ICICI Bank Home Loan

Apply for ICICI Home Loan Online | ICICI Home Loan Schemes | Features & Benefits

✓ Home Loan from ₹2 Lakhs To ₹15 Cr ✓ Multiple Lending Partners ✓ Interest Rates Starting @ 8.50%

ICICI bank offers home loans at affordable interest rates to both salaried and self-employed individuals. On fulfilling some basic eligibility criteria, you can get a good loan amount for a longer repayment tenure. You can use this money for purposes such as home construction or purchase. Also, you can immensely benefit from a variety of plans that they have launched.

 

Avail ICICI Home Loan of up to Rs.5 Cr from Bajaj Markets with 90% of the property value as a loan amount. Interest rate starts at 8.75% p.a. with a maximum repayment tenure of 30 years.

ICICI Bank Home Loan Details

Interest Rate

8.75% p.a. Onwards (salaried applicants)

 to

8.75% p.a. Onwards (self-employed applicants)

Maximum loan amount

Up to ₹5 Cr

Processing fees

₹3000 + GST + (Higher of ₹5,000 + GST or 0.25% of the loan amount + GST)

Max repayment Tenure

Up to 30 years

Types available

Fixed and floating interest rate

Penalty Interest Rate

Up to 2% per month

ICICI Housing Loan Interest Rate 2023

Particulars

Interest Rate

Salaried Applicants

8.75% p.a.onwards

Self-Employed Applicants

8.75% p.a. onwards

Also Check, Current Interest Rate for Home Loan 2023

Compare ICICI Home Loan Interest Rates vs Other Lenders

The following table highlights the comparison between ICICI Home Loan Interest Rates vs Other Lenders:

Name of Lender

Up to Rs 30 Lakhs

Above Rs 30 Lakhs & up to Rs 75 Lakhs

Above Rs 75 Lakhs

ICICI Bank

8.40% p.a.onwards

8.40% p.a.onwards

8.40% p.a.onwards

HDFC

8.20% p.a.onwards

8.20% p.a.onwards

8.20% p.a.onwards

State Bank of India

8.40% p.a.onwards

8.40% p.a.onwards

8.40% p.a.onwards

PNB Housing Finance

8.75% p.a.onwards

8.75% p.a.onwards

8.85% p.a.onwards

Kotak Mahindra Bank

8.30% p.a.onwards

8.30% p.a.onwards

8.30% p.a.onwards

Punjab National Bank

8.60% p.a.onwards

8.55% p.a.onwards

8.55% p.a.onwards

Union Bank of India

8.25% p.a.onwards

8.25% p.a.onwards

8.25% p.a.onwards

Bank of Baroda

8.25% p.a.onwards

8.25% p.a.onwards

8.25% p.a.onwards

IDFC First Bank

8.45% p.a.onwards

8.45% p.a.onwards

8.45% p.a.onwards

Bajaj Housing Finance

8.30% p.a.onwards

8.30% p.a.onwards

8.30% p.a.onwards

L&T Housing Finance

8.40% p.a.onwards

8.40% p.a.onwards

8.40% p.a.onwards

Godrej Housing Finance

8.39% p.a.onwards

8.39% p.a.onwards

8.39% p.a.onwards

LIC Housing Finance

8.30% p.a.onwards

8.30% p.a.onwards

8.30% p.a.onwards

Tata Capital

8.60% p.a.onwards

8.60% p.a.onwards

8.60% p.a.onwards

Federal Bank

8.37% p.a.onwards

8.37% p.a.onwards

8.37% p.a.onwards

Note: The interest rate varies depending on bank’s policy

ICICI Bank Home Loan EMI Calculator

Loan Amount
Tenure
  • Months
  • Years
Rate of Interest
%

Your monthly EMI is

at % interest rate for months

Total Amount Payable
Principal Amount
Total Interest Amount
Year Principal Interest Balance

ICICI Bank Home Loan Eligibility

Given below is the comprehensive list of ICICI Home Loan Eligibility Criteria:

 

  1. As a salaried applicant, your age must be between 21-58 years. As a self-employed applicant, your age must be between 21-65 years.
  2. The net monthly income should be at least Rs. 30,000 for salaried applicants.
  3. The minimum PAT (Profit After Tax) should be at least Rs. 30,000 for self-employed applicants.
  4. You must have a work experience of at least 2 years if you are a salaried applicant. As a self-employed applicant, your business must have a vintage of 3 years at least. 

Calculate your Home Loan Eligibility Criteria and also check out factors determining on improving eligibility criteria.

Documents Required for ICICI Housing Loan

The common documents required are as follows: 

Common Documents:

  • Identity Proof: PAN/Voter ID/Aadhaar Card

  • Address proof: Aadhaar Card/Passport/Driving License

Additional Documents for Salaried Individuals:

  • Bank statements of last 6 months

  • Salary slips of last 3 months (for salaried applicants)

Additional documents for self employed individuals:

  • Certificate & Proof of business existence (for self-employed applicants)

  • Form 16 / Income Tax Returns

ICICI Home Loan Features & Benefits

  • High-value Loan: You can avail a Home Loan as high as ₹5 Cr to finance your home purchase.

  • Flexible Repayment Tenure: Enjoy flexibility in repayment tenure that ranges between 12-360 months and 12-240 months for salaried and self-employed applicants respectively.

  • Low Interest Rates: You can avail Home Loan at attractive ICICI Home Loan interest rates ranging from  8.40% to 10.75%.

  • Balance Transfer Options: You can also transfer your Home Loan balance through the facility of balance transfer at a low rate of interest.

ICICI Home Loan Schemes

  • Regular home loan: This is your regular home loan that borrowers avail to purchase a newly constructed property or a resale flats. You can avail funding of up to ₹5 Cr through it and repay it over the course of 30 years.

  • Express home loan: If you want to avail the funding for the home of your dreams quickly, you can go for an express home loan. You can avail an ICICI Express Home Loan in five simple steps once you submit all of the required home loan documents online. At the end of the process, you will receive a provisional sanction letter that you can use to avail the home loan.

  • Land loans: If you want to purchase a plot of land on your own and build a house on it later, you can get a Plot loan. You will be charged the same interest rate on the land loan as you would be in the case of a regular home loan.

  • Extra Home Loans: Extraa Home Loans is a form of balance-top up facility that will allow you to avail an additional 20% over and above your original sanctioned regular loan amount. In addition to the same, once you avail this facility, you can repay the total amount until 67 years of age.

  • NRI Home Loan: As the name suggests, this home loan is for you if you are a Non Resident Indian (NRI). Some of the facilities you can avail if you apply for an NRI home loan is doorstep service until the disbursal of your loan, the option of getting to choose from properties that have been approved for funding and the facility of choosing between fixed and floating rate system.

  • Instant Home Loans (Pre-approved): If you have a salary account in ICICI bank, you can get a home loan up to Rs. 3 Crores. Additionally, you have the flexibility to select a loan tenure of up to 30 years to repay it in easy instalments. 

  • Pre-Approved (Instant) Balance Transfer: ICICI bank provides this offer to their pre-existing customers. They can get up to Rs. 1 Crore on transferring their existing loan at some other banks to ICICI bank. Furthermore, they can get an additional duration to repay the same.  

  • Balance Transfer and Top-up: Under this facility, while in the balance transfer process, you can opt for an additional top-up in the loan amount in case you require extra funds. Thus, you can keep from applying for new credit. Subsequently, you can also get extra time to repay your loan in easy instalments.

  • Pratham Home Loans: Salaried individuals with a minimum monthly income of Rs. 10,000 can opt for a credit under this scheme. In addition to this, self-employed individuals with a business vintage of 5 years can also opt for this loan. The amount under this scheme usually ranges between Rs. 5 Lakhs and Rs. 50 Lakhs, and the tenure ranges up to 20 years.

  • Insta Top-up Loan (Pre-Approved): You can instantly top-up your loan with a few clicks for additional funds to meet sudden requirements. The credit amount available under this scheme is Rs. 1 Crore, and you can get up to 10 years to repay it.

Why Choose Bajaj Markets for ICICI Home Loan

  • Fast Online Process: Now get an online home loan with easy approval and disbursal process.

  • Minimal Documentation: Get the best home loan offers hassle-free, without any tedious paperwork.

  • Transparency Guaranteed: No hidden charges, no dubious policies, just 100% transparency.

  • Custom-made Loans: Finance your dream home with easy home loans designed to meet your specific requirements.

  • Trusted Companion: Customers across the country have sought financial enablement from us. Give us a chance and we won’t let you down. 

ICICI Home Loan Customer Care Numbers

One can reach out to ICICI Bank regarding home loan queries or grievances through the customer care numbers that have been mentioned below:

 

  1. Delhi: 011 33667777
  2. Mumbai: 022 33667777
  3. Kolkata: 033 33667777
  4. Chennai: 044 33667777
  5. Customers Travelling Overseas: +91-40-7140 3333

FAQs on ICICI Housing Loan

  • ✔️Can I apply for an ICICI Home Loan online?

    Yes, you can apply for an ICICI Home Loan online by visiting the ICICI website.

  • ✔️ What are the processing fees for ICICI Home Loans?

    The processing fees for ICICI Home Loans are 0.50% - 1% of the loan amount or Rs.1,500, whichever is higher + taxes and surcharge.

  • ✔️Does ICICI give pre-approved Home Loans?

    Yes, ICICI gives pre-approved Home Loans.

  • ✔️How can I check my ICICI Home Loan status?

    You can check the status of your ICICI Home Loan application using ‘Trackmyloan’ by entering your loan application and mobile number. This can be done using your desktop or mobile.

  • ✔️Does ICICI check CIBIL for a Home Loan?

    Yes, ICICI checks CIBIL for a Home Loan, but it is not mandatory.

  • ✔️What is the maximum loan tenure I can opt for under ICICI House Loan?

    The maximum loan tenure you can opt for under ICICI House Loan is 30 years.

  • ✔️Can I transfer my House Loan from another bank to ICICI?

    Yes, you can transfer your House Loan from another bank to ICICI.

  • ✔️Can I club the income of my spouse with mine and apply for ICICI joint Home Loan?

    Yes, you can apply for an ICICI joint Home Loan with your spouse.

  • ✔️What are the special concessions on the home loan interest rates offered by ICICI bank for women borrowers?

    Women borrowers can get a home loan with an interest rate ranging between 8.35% and 8.80%. The fixed interest rate varies between 8.70% and 8.90%, floating interest rate varies between 8.65% and 8.80%, and full tenure interest rate varies between 9.70% and 10.05%.

  • ✔️Does ICICI Provide 90% Home Loan?

    Yes, ICICI bank can provide up to 90% home loan when you opt for a top-up during a balance transfer.