ICICI Bank Home Loan Eligibility

To make dream home a reality, ICICI bank offers ICICI home loan scheme on easy conditions and attractive rate of interest. To avail ICICI home loan scheme, ICICI bank has set easy eligibility conditions for the applicants which are based on three prime factors, i.e.:

• EMI limited to about 50% of monthly income
• Loan capped @ 80% of property value
• EMIs of other loans

ICICI Home Loan Eligibility Calculator

Eligibility Criteria	ICICI Home Loan
Eligible Age	21 – 65 Yrs
Work Experience for Salaried	2 Yrs
Minimum Eligible Income	Rs. 25,000 and above
Processing Fee	0.50%-1.00% of the loan amount
Loan Amount Eligibility	Upto 10 Crores
Tenure	Upto 30 Yrs
Interest Rate	8.80% Onwards
Maximum EMI as percent of income	Up to 65%

The details of the ICICI Bank home loan eligibility criteria are:

Eligibility Criteria for ICICI Home Loan

Eligibility Criteria for Age

The minimum and maximum age requirement to apply for ICICI Home loan is:

• The minimum age to apply for ICICI Home loan is 25 years.
• The maximum age of the applicant at the time of loan termination or at retirement should be 65 years, whichever is earlier
• Minimum age of co-applicant should be 18 years

Eligibility Criteria for Profession

To meet home loan eligibility and apply for ICICI Home Loan, the applicant must be salaried or self-employed and must have a regular source of income.

Eligibility Criteria for Income

Bank has set ICICI home loan eligibility based on salary. The minimum income requirement is different for self-employed individuals, salaried employees and working professionals.

• The minimum income requirement for salaried applicant and working professionals is Rs. 5,00,000 p.a.
• The minimum income requirement for self-employed professionals is Rs.7,50,000 p.a.

Documents Home Loan Eligibility Criteria

To avail home loan, an applicant must also meet ICICI home loan eligibility documents criteria. To apply for home loan from ICICI Bank, an applicant must have KYC Document proofs, last 3 months salary slips, Income tax details, and supporting bank statements.

How can you enhance your Eligibility to get ICICI Home Loan Scheme?

To enhance home loan eligibility chances for getting the ICICI home loan, an applicant can:

• Clear his existing loans or any other credit dues.
• Ensure to have a good record of receiving bonuses or benefits as a salaried employee and should be able to show them to the bank.
• Show other source of incomes, such as rent from a property.
• Spouse’s income further enhances the eligibility to get the loan.

Housing Loan Eligibility Calculator

Paisa Bazaar offers ICICI home loan eligibility calculator for the ease of ICICI home loan borrowers. With the home loan eligibility calculator by Paisa Bazaar, interested loan applicants can check their home loan eligibility and accordingly apply for the same home loan amount. This Paisa Bazaar’s ICICI home loan eligibility calculator is free of cost and can be used for multiple times to identify the right home loan terms and scheme.

How to Use Paisa Bazaar’s ICICI Home Loan Amount Eligibility Calculator?

To use Home loan amount eligibility calculator by Paisa Bazaar, user needs the following details:

• Net Monthly Income: Net monthly income earned by the intended loan borrower.
• Existing EMI: Details about any EMI paid for preexisting loans
• Rate of interest: Rate of interest offered on home loan by ICICI Bank
• Loan Tenure: Duration for which you intend to borrow loan amount

Steps to use ICICI Home loan Eligibility Calculator:

Step one: Visit PaisaBazaar.com > click on Tab ‘Tools’ > Click on Loan Eligibility Calculator.

Step two: Using the slider enter details for Net Monthly income that you earn.

Step three: Using the slider enter details for existing EMI, if any. Do not forget to turn the slider to Zero, if you do not have to any preexisting loan commitments.

Step Four: Using the slider enter details for Rate of interest on home loan charged by ICICI Bank.

Step Five: Enter details for loan tenure.

Step six: As soon as you enter all the required details, check the right hand side highlighted box to know about how much loan amount do you stand eligible for.

Why to use ICICI Home Loan Eligibility Calculator by Paisa Bazaar?

Use this loan eligibility calculator by Paisa Bazaar for the following reasons:

To Save Your Time: Your time is crucial, and your requirement to avail home loan can be urgent. Use this calculator as an opportunity to save your time in visiting ICICI branch personally and talking with bank representatives about how much loan amount do you stand eligible for.

To Save Your Efforts: It takes a lot of time to manually calculate the loan amount details. To your amusement, you can use this tool to know about qualified loan amount within seconds.

To Compare: For those who want to take well-informed decision and best available home loan scheme, this tool is a boon. Within minutes, a person can compare different loan terms & conditions and know about which one would be the most feasible scheme.

It Is Free Of Cost: This tool is free to use for unlimited time!