ICICI Ltd provides eligible borrowers with affordable home loan interest rates on ICICI home loan. The interest rate starts as low as 8% p.a. exclusive of other charges. The repayment tenure can be extended up to 30 years with flexible repayment options.
ICICI Home Loan Home Loan Highlights
Interest Rate
8%-9.85% p.a.
Loan Amount
As per the applicant’s eligibility
Tenure
Up to 30 years
Processing Fees
0.50% – 2% of loan amount
What Other Fees & Charges are Applicable on ICICI Home Loan Home Loan?
ICICI Home Loan Processing Fees
0.5% to 2% of the amount of loan or Rs. 3000, whichever is higher + applicable taxes
Foreclosure or Prepayment Charges
Nil for a Home loan with a floating interest rate
Repayment Swap Charges
Rs. 500
Document Retrieval charges
Rs. 500
Cheque/ECS/AD Charges
Rs. 500
CIBIL Report Charges
Rs. 50
Which ICICI Home Loan Home Loan Scheme is Right for You?
ICICI Home Loan Schemes
ICICI brings an extensive range of home loan schemes for salaried professionals and self-employed individuals. The following ICICI Home Loan schemes can be opted for by eligible applicants –
1. ICICI Instant Home Loan: It exclusively provides home loans up to a maximum amount of ₹3 crore for applicants having their salary account in ICICI Bank.
0.25% processing fee plus applicable taxes on the borrowed amount.
No requirement for submission of documents at the sanction time.
2. ICICI Step Up Home Loans: Ideal for young salaried individuals having a moderate income.
Loan amount up to ₹3 crores and tenure up to 20 years.
Minimum required monthly income: ₹20,000.
3. ICICI 30 Year Home Loan: Offers competitive fixed and floating rates of interest.
Provides a maximum repayment tenure of 30 years.
4. ICICI NRI Home Loan: Competitive interest rates with the benefit of part prepayments allowed at zero charges.
Interest rate calculation: On reducing monthly basis.
How to Calculate ICICI Home Loan EMI?
Visit the home loan EMI calculator page.
Enter the desired loan amount.
Fill in the preferred maximum loan tenure.
Enter the applicable interest rate.
Click on the ‘Calculate Your EMI’ option.
ICICI Home Loan Eligibility Criteria
Type of Resident: Indians and NRIs (Non-Resident Indians)
Age of the applicants: 18 to 65 years
Age of the co-applicants: 21 to 65 years
Age of NRI applicants: 25 to 60 years
Type of Employment: Self-employed, salaried, and self-employed professionals
Minimum monthly income of primary home loan applicants: ₹15,000
Co-applicant’s minimum monthly income: ₹10,000
How to Apply for ICICI Home Loan?
Through Magicbricks: Visit the official website of Magicbricks. Scroll down to ICICI Bank and fill up the form.
Through ICICI Ltd. Portal: The official ICICI portal contains the home loan form. You can fill up the form and also track the application status through this official portal.
Through an ICICI Branch Office: Visit your nearest ICICI branch to apply offline and avail of in-person assistance.
