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ICICI Home Loans @ Lowest Rates

  • Interest Rates: 8.55% Onwards
  • Loan Tenure: Up to 30 years 

Apply for Home Loan Starting From 7.85%*

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Date :27/01/2020

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Paisabazaar Marketing and Consulting Private Limited

CIBIL TERMS AND
CONDITIONS

To,
TransUnion CIBIL Limited
[Formerly known as Credit Information Bureau (India) Limited]
One Indiabulls building ,Unit No 1901 – 1905,
19th Floor, Tower 2A-2B, Jupiter Mill compound,
Senapati Bapat Marg, Lower Parel, Mumbai 400 013

Sub: Grant of Consent

Dear Sirs,

In connection with submission of the application for my credit information offered by CIBIL (“Consumer Credit Information”) through Paisabazaar (referred to as the “Company”) and delivery of the Consumer Credit Information to the Company, I hereby acknowledge and agree to the following:

A. The Company is my lawfully appointed agent and he / it has agreed to be my agent for the purposes, including, without limitation, to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, and the Company has granted its consent for being appointed for the aforesaid purpose.

B. I grant my unconditional consent to the Company to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, as the case may be, and the Company has granted its consent for being appointed for the aforesaid purpose. I hereby represent and acknowledge that: the Terms of Understanding in relation to the use of the Consumer Credit Information has been agreed between me and the Company.

C. I hereby expressly grant unconditional consent to, and direct, TUCL to deliver and / or transfer my Consumer Credit Information to the Company on my behalf.

D. I shall not hold TUCL responsible or liable for any loss, claim, liability, or damage of any kind resulting from, arising out of, or in any way related to: (a) delivery of my Consumer Credit Information to the Company ; (b) any use, modification or disclosure by the Company of the contents, in whole or in part, of my Consumer Credit Information , whether authorized or not; (c) any breach of confidentiality or privacy in relation to delivery of my Consumer Credit Information to the Company ; (d) for any use made by the Company which is contrary to the Agreement entered into between the Company and TUCL

E. I acknowledge and accept that: (a) TUCL has not made any promises or representations to me in order to induce me to provide my Consumer Credit Information or seek any consent or authorization in this regard; and (b) the implementation of the Agreement between TUCL and the Company is solely the responsibility of the Company.

F. I agree that I may be required to record my consent / provide instructions electronically and in all such cases I understand that by clicking on the "I Accept" button below, I am providing "written instructions" to Paisabazaar authorizing Paisabazaar to obtain my Consumer Credit Information from my personal credit profile from TransUnion CIBIL LIMITED, [formerly known as Credit Information Bureau (India) Limited]]. I further authorize Paisabazaar to obtain such information solely to confirm my identity and display my Consumer Credit Information to me. Further in all such cases “By checking this box and clicking on the ‘Authorize button, I agree to the terms and conditions, acknowledge receipt of TUCL privacy policy and agree to its terms, and confirm my authorization for Paisabazaar to obtain my Consumer Credit Information.

G. I understand that in order to deliver the product to me, I hereby authorize Paisabazaar, to obtain my Consumer Credit Information from TUCL.

H. By submitting this registration form, I understand that I am providing an express adhoc one-time written instructions for Paisabazaar to request and receive information about me from third parties, including but not limited to a copy of my consumer credit report and score from consumer reporting agencies, at any time for so long as I have an active Paisabazaar account. I further authorize Paisabazaar to retain a copy of my information for use in accordance with the terms of use of this service, Paisabazaar’s Terms of Use and Privacy Policy.

I. I UNDERSTAND THAT THE PRODUCT IS PROVIDED ON AN “AS-IS”, “AS AVAILABLE” BASIS AND TUCL EXPRESSLY DISCLAIMS ALL WARRANTIES, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.

J. I shall not sue or otherwise make or present any demand or claim, and I irrevocably, unconditionally and entirely release, waive and forever discharge TUCL , its officers, directors, employees, agents, licensees, affiliates, successors and assigns, jointly and individually (hereinafter “Releasee”), from any and all manner of liabilities, claims, demands, losses, claims, suits, costs and expenses (including court costs and reasonable attorney fees) (“Losses”), whatsoever, in law or equity, whether known or unknown, which I ever had, now have, or in the future may have against the Releasee with respect to the submission of my Consumer Credit Information and / or my decision to provide TUCL L with the authority to deliver my Consumer Credit Information to the Company . I agree to defend, indemnify, and hold harmless the Releasee from and against any and all Losses resulting from claims made against TUCL L by third parties arising from and in connection with this letter.

K. I agree that the terms of this confirmation letter shall be governed by the laws of India and shall be subject to the exclusive jurisdiction of the courts located in Mumbai in regard to any dispute arising hereof. TUCL is entitled to assign its rights hereunder to any third person without taking my prior written consent.

Yours faithfully,
Name :

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :27/01/2020

CC:
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Paisabazaar Marketing and Consulting Private Limited

EQUIFAX TERMS AND
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I Mr./Ms. -------------------- ---------------------residing at ------------------------ ---------------------------------------- do hereby authorise Paisabazaar Team ,to do all acts on my behalf as may be necessary including to execute/sign application(s), make payment of applicable fees* and generally to all other acts as may be necessary to receive, on my behalf and at my request, my Credit Information Report (CIR) from Equifax Credit Information Services Private Limited("Equifax") at the following address/email id:

I hereby confirm that all the powers hereby conferred may be exercised by officer(s) or manager(s) / agent(s) / employees of the Paisabazaar who is duly authorized by the Paisabazaar.

I hereby confirm, agree, undertake and accept that I shall at all times be solely responsible for all the above actions and omissions of the Paisabazaar shall be binding on me as though such actions had been carried out by me directly. I further confirm that my CIR shall be used only for the purpose as mentioned in the attached standard terms and conditions and I shall be solely liable for, and indemnify and hold harmless Equifax for and against, any and all third party claims or damages or proceedings of any kind, arising from or in connection with (a) any misrepresentations, incorrect information or omission of any critical information in my application, or (b) furnishing my CIR based on this authorization letter, and shall not at any time hold Equifax or its affiliates and their respective officers, directors, employees or representatives liable in this respect.

I hereby also confirm that I have only appointed Paisabazaar to be my authorized agent/representative for collection of my CIR.

I undertake to keep Equifax intimated and informed at all times, of any renewals or termination of the authorization to Paisabazaar or any amendments, modifications or changes in the terms governing the obligations or my relationship with Paisabazaar.

I shall at all times co-operate with Equifax and execute and deliver to Equifax such instruments and documents and take such other actions as may be required by Equifax from time to time in connection with this authority letter.

By signing on this authorization letter, I hereby acknowledge and accept the Standard Terms and Conditions mentioned above.

Date : 27/01/2020

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :27/01/2020

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

EXPERIAN TERMS AND
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YOU HEREBY APPOINT PAISABAZAAR AS YOUR AUTHORISED REPRESENTATIVE TO RECEIVE YOUR CREDIT INFORMATION FROM EXPERIAN.

YOU HEREBY IRREVOCABLY AND UNCONDITIONALLY CONSENT TO SUCH CREDIT INFORMATION BEING PROVIDED BY EXPERIAN TO YOU AND PAISABAZAAR AND YOU HEREBY AGREE, ACKNOWLEDGE AND ACCEPT THE TERMS AND CONDITIONS SET FORTH HEREIN. YOU HEREBY ALSO AGREE AND ACKNOWLEDGE THAT FOR PAISABAZAAR TO SERVICE YOU AS A CUSTOMER, THE CREDIT INFORMATION SHALL BE SHARED BY EXPERIAN WITH YOU AND PAISABAZAAR ON A MONTHLY BASIS. YOU FURTHER ALSO AGREE AND CONSENT TO RECEIVE SUCH CREDIT INFORMATION DIRECTLY FROM EXPERIAN AND ALSO THROUGH YOUR PAISABAZAAR ACCOUNT AS PER YOUR INDEPENDENT REGISTRATION WITH PAISABAZAAR.

Please read the Terms and Conditions of this document carefully before accepting. By clicking on the "I ACCEPT" button below, you are expressly agreeing to access the Experian Credit Information Report and Credit Score (as defined in the Important Information Section below) (together referred as "Credit Information") and share a copy of the Credit Information with Paisabazaar in the "as is" format. Please click on the link below to read and understand the Important Information section below.

** This document is an electronic record in terms of the Information Technology Act, 2000 and Rules made there under, and the amended provisions pertaining to electronic records.

Information Collection, Use, Confidentiality, No-Disclosure and Data Purging

PAISABAZAAR/ We/ Us can only access your Credit Information as your authorized representative and we shall use the Credit Information for limited end use purpose consisting of and in relation to the services proposed to be availed by you from us on the Website. We shall not aggregate, retain, store, copy, reproduce, republish, upload, post, transmit, sell or rent the Credit Information to any other person and the same cannot be copied or reproduced other than as agreed herein.

We shall protect and keep confidential the Credit information both online and offline and use best in class security measures in line with applicable laws. The Credit Information shared by You, or received on your behalf shall be destroyed, purged, erased promptly upon the earlier of: (i) your written request to terminate this relationship with Paisabazaar (ii) the completion of provision of the Services by us to you.

Governing Law and Jurisdiction The relationship between you and the Parties shall be governed by laws of India and all claims or disputes arising there from shall be subject to the exclusive jurisdiction of the courts of [Mumbai].

Definitions: Capitalised terms used herein but not defined above shall have the following meanings:
"Credit Information Report" means the credit information / scores / aggregates / variables or reports which shall be generated by Experian;
"Credit Score" means the score which shall be mentioned on the Credit Information Report which shall be computed by Experian.
"CICRA" shall mean the Credit Information Companies (Regulation) Act, 2005 read with the Credit Information Companies Rules, 2006 and the Credit Information Companies Regulations, 2006, and shall include any other rules and regulations prescribed thereunder.
PLEASE READ THE ABOVE MENTIONED IMPORTANT INFORMATION AND CLICK ON "ACCEPT" FOLLOWED BY THE LINK BELOW TO COMPLETE THE AUTHORISATION PROCESS FOR SHARING OF YOUR CREDIT INFORMATION BY EXPERIAN WITH YOU AND PAISABAZAAR, IN ITS CAPACITY AS YOUR AUTHORISED REPRESENTATIVE.
BY CLICKING "ACCEPT" YOU AGREE AND ACCEPT THE DISCLAIMERS AND TERMS AND CONDITIONS SET OUT HEREIN. THE TERMS AND CONDITIONS MENTIONED HEREIN MAY CHANGE IN ORDER TO COMPLY WITH GOVERNING LAWS OF THE COUNTRY AND THE CONSUMER SHALL BE BOUND TO ANY CHANGES TO THIS AGREEMENT

Name :
Date : 27/01/2020

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :27/01/2020

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

CRIF HIGH MARK TERMS
AND CONDITIONS

This End User Agreement (the "Agreement") is made between you (the "User" or "You") and Paisabazaar Marketing and Consulting Pvt Ltd ("PaisaBazaar"), a private limited company having its registered office at Plot No 119, Sector-44, Gurgaon-122001, Haryana ("PAISABAZAAR", "Us" or "We", which term shall include its successors and permitted assigns). The User and PAISABAZAAR shall be collectively referred to as the "Parties" and individually as a "Party".

YOU HEREBY APPOINT PAISABAZAAR AS YOUR AUTHORISED REPRESENTATIVE TO RECEIVE YOUR CREDIT INFORMATION FROM CRIF HIGH MARK. BY EXECUTING THIS AGREEMENT / CONSENT FORM, YOU ARE EXPRESSLY AGREEING TO ACCESS THE CRIF HIGH MARK CREDIT INFORMATION REPORT AND CREDIT SCORE, AGGREGATE SCORES, INFERENCES, REFERENCES AND DETAILS (AS DEFINED BELOW)(TOGETHER REFERRED AS "CREDIT INFORMATION"). YOU HEREBY ALSO IRREVOCABLY AND UNCONDITIONALLY CONSENT TO SUCH CREDIT INFORMATION BEING PROVIDED BY CRIF HIGH MARK TO YOU AND PAISABAZAAR BY USING CRIF HIGH MARK TOOLS, ALGORITHMS AND DEVICES AND YOU HEREBY AGREE, ACKNOWLEDGE AND ACCEPT THE TERMS AND CONDITIONS SET FORTH HEREIN. YOU ALSO ACKNOWLEDGE THAT YOU SHALL NOT RAISE ANY CLAIM OR HOLD LIABLE CRIF HIGH MARK CREDIT INFORMATION SERVICES PRIVATE LIMITED IN RELATION TO YOUR CREDIT INFORMATION REPORT AND CREDIT SCORE PROVIDED OR TO BE PROVIDED BY CRIF HIGH MARK TO PAISABAZAAR.

Terms and Conditions: Information Collection, Use, Confidentiality, No-Disclosure and Data Purging PAISABAZAAR shall access your Credit Information as your authorized representative and PAISABAZAAR shall use the Credit Information for limited end use purpose consisting of and in relation to the services proposed to be availed by you from PAISABAZAAR. PAISABAZAAR shall not aggregate, retain, store, copy, reproduce, republish, upload, post, transmit, sell or rent the Credit Information to any other person and the same cannot be copied or reproduced other than as agreed herein.

The Parties agree to protect and keep confidential the Credit Information both online and offline. The Credit Information shared by you, or received on by us on your behalf shall be destroyed, purged, erased promptly upon request from the consumer or the consumer withdrawing the consent to retain such credit information / reports by deleting/deactivating the consumers account with Paisabazaar.

Governing Law and Jurisdiction Definitions: Capitalised terms used herein but not defined above shall have the following meanings:
" Business Day" means a day (other than a public holiday) on which banks are open for general business in Gurgaon and Mumbai.
" Credit Information Report" means the credit information / scores/ aggregates / variables / inferences or reports which shall be generated by CRIF High Mark;
" Credit Score" means the score which shall be mentioned on the Credit Information Report which shall be computed by CRIF High Mark.
" CICRA" shall mean the Credit Information Companies (Regulation) Act, 2005 read with the Credit Information Companies Rules, 2006 and the Credit Information Companies Regulations, 2006, and shall include any other rules and regulations prescribed thereunder.
IN CASE THERE IS ANY DISCREPANCY OR INABILITY IN COMPLETION OF ONLINE AUTHENTICATION, PLEASE SUBMIT YOUR SELF ATTESTED KYC DOCUMENTATION IN SCANNED COPIES FOR SHARING OF YOUR CREDIT INFORMATION BY CRIF HIGH MARK WITH YOU AND PAISABAZAAR (YOUR AUTHORISED REPRESENTATIVE).
ONLINE SUBMISSION - DOES NOT REQUIRE SIGNATURE AND EXECUTION"

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Date :27/01/2020

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Updated: 03-01-2020 12:49:51 PM
ICICI Home Loan Interest Rates & Other Details – Dec 2020
Interest Rate8.55% onwards
Loan AmountDepends on the applicant’s credit profile
Loan TenureUp to 30 years
Processing Fees0.5% – 1.00% of loan amt. (Min. Rs. 1,500) + GST

Note: The figures given in the table are indicative and are subject to change as per the loan scheme at ICICI Bank’s or RBI’s discretion without prior information.

ICICI bank home loan interest rate is 8.55% onwards. The bank offers a variety of home loan schemes at low processing fees and flexible loan tenure of up to 30 years. Both salaried and self employed customers can apply for ICICI home loan. Customers can avail the loans under Pradhan Mantri Awas Yojana Scheme (PMAY). Check below various ICICI home loan products along with their features, benefits, rates and charges.

ICICI Home Loan Features & Benefits
ICICI Home Loan Interest Rates
ICICI Home Loan Processing Fees & Other Charges
ICICI Home Loan EMI Calculator
ICICI Home Loan Eligibilty
ICICI Bank Home Loan Documents Required
ICICI Home Loan Schemes
Apply for ICICI Bank Home Loan
ICICI Home Loan Customer Care
FAQs
ICICI Home Loan News

ICICI Home Loan Features & Benefits

The key features and benefits of ICICI Home Loan are as follows:

  • Facilitates pre-approved loans
  • Offers Home Loan insurance to make ICICI Home loan repayment easier for borrower’s family in case of their demise.
  • Get tax benefit of up to Rs. 1.5 lakh on home loan
  • Offers a wide range of ICICI home loan schemes to cater to different home loan requirements of its customers
  • Offers loans at attractive interest rates

Value Added Offerings on ICICI Home Loan

Added benefits on ICICI Home Loan are given as follows:

  • Approved projects: Get loan quickly with simple documentation by buying projects approved by ICICI Bank.
  • Pre-approved home loans: ICICI bank facilitates pre-approved loans for its selected customers, thus reducing the burden of detailed documentation.
  • Home loan insurance: ICICI bank keeping in mind any unforeseen incident in the user’s life, provides for Home Loan insurance to make ICICI Home loan repayment easier for the user’s near ones. These products come in two variants:
    • Home Insurance and Secure Mind: This scheme is also known as a single premium long-term plan that offers no medical checkup upto a premium of 3 crore. This plan is also helpful in a tax benefit and multiple applicants can be covered under one single plan.
    • Loan Protect: Provides for tax benefit and also gives the flexibility to continue life cover even after loan closure. Life coverage remains constant for 20 years. This plan also offers no medical test for premium up to 5 crore.

ICICI Home Loan Interest Rates

ICICI Bank offers floating rate interest rate on home loans. As per the RBI guidelines, the ICICI home loan interest rates are linked to repo rate, which currently is 5.15% (as updated on October 4, 2019). The rates differ on the basis of the scheme, employment type, loan amount and credit score.

Compare ICICI home loan interest rates for various loan schemes

ICICI Home Loan SchemesRLLR inked Interest Rate For SalariedRLLR linked Interest Rate for Self Employed
ICICI Home Loan8.55% – 9.10%9.00% – 9.20%
30 Year Home Loan10.05% – 14.85%10.05% – 14.85%
Step Up Home Loan8.55% – 9.50%8.60% – 9.55%
Rural Housing Loan8.65% – 9.95%8.70% – 9.95%
Home Improvement Loan8.55% – 9.50%8.60% – 9.55%
Home Extension Loan8.55% – 9.50%8.60% – 9.55%
Top Up Loan8.55% onwards8.55% onwards

Note: The figures given in the table are indicative and are subject to change as per changes in ICICI Bank’s home loan schemes or RBI policy.

ICICI Home Loan Processing Fees & Other Charges

ParticularsFees & Charges
Loan Processing Charges / Renewal Charges0.50% – 1.00% of the loan amount or Rs. 1500/- (Rs. 2000/- for Mumbai, Delhi and Bengaluru), whichever is higher
Prepayment Charges· NIL for ICICI Home Loans and ICICI Home Improvement Loans with a floating rate of interest
· 2% on the outstanding principal on full repayment for ICICI Bank Home Loan with a fixed rate of interest
· 2% on the outstanding principal on full repayment for Top Up Loan if the applicant or co-applicant is Non-Individual
· 4% on the outstanding amount of loan where the loan is given to Non Individual borrowers or with a fixed rate of interest to Individual borrowers.
Charges for late payment· Home Loans: 2% per month
· Home OD: 1.5% of the outstanding amount subject to a minimum of Rs. 500/- & Maximum of Rs.5000/-
Conversion charges for ICICI home loans· Floating to Floating: 0.5% of the principal outstanding
· Dual fixed rate to Floating: 0.5% of the principal outstanding
· Floating to Dual fixed rate: 0.5% of the principal outstanding
· Lifetime fixed to Floating: 1.75% of the principal outstanding
Repayment mode swap ChargesRs 500
Document Retrieval ChargesRs 500
Cheque bounce chargesRs 500
Duplicate No Objection Certificate / No Due CertificateRs 100
Revalidation of No Objection Certificate Rs 100
Administrative Charges Rs 5000
CIBIL Report Charges Rs 50
Legal, Repossession and Incidental Charges At Actuals

Note: GST and other applicable charges applicable as per prevailing rate will be levied over and above on the charges given in the table. The figures given in the table are indicative and are subject to change at the banks’ discretion without prior information.

ICICI Home Loan EMI Calculator

Home loans should be planned in advance to ensure timely repayment of a hefty sum. An EMI calculator can help borrowers plan ahead and pay off the borrowed amount with accrued interest within the loan tenure. Paisabazaar.com provides the facility of ICICI Home Loan EMI Calculator for free. It is easy to use and provides instant results. The steps to use Paisabazaar’s Home Loan EMI Calculator are:

ICICI Home Loan EMI depends on loan tenure, loan amount and interest rate. The following table shows the effect of loan amount and loan tenure on loan EMIs. The values of loan amount and loan tenure are variable and the value of home loan interest rate is constant at 8.60% p.a.

Loan AmountEMIs as per Different Loan Tenures
15 years20 years30 years
Rs. 30 lakhRs. 29,718Rs. 26,225Rs. 23,280
Rs. 60 lakhRs. 59,437Rs. 52,450Rs. 46,561
Rs. 90 lakhRs. 89,155Rs. 78,675Rs. 69,841
Rs. 1 croreRs. 99,061Rs. 87,416Rs. 77,601

In the table, you can notice that the monthly instalments or EMIs increase with the increase in the loan amount. Also, the EMIs reduce with the increase in the loan tenure. Choosing longer loan tenure might seem like a right choice but remember that even though longer tenure reduces your EMI but it increases the total interest payout. Hence, pick your home loan tenure after careful consideration.

ICICI Home Loan Eligibilty

ICICI home loan eligibility varies from one scheme to another. It majorly depends on the following factors:

  • Current age– The age of the loan applicant helps the lending institutions set the loan tenure. They usually try to restrict the home loan tenure to the applicant’s retirement age.
  • Employment – Depending on the home loan scheme, both salaried and self-employed individuals can apply for the ICICI Home Loan. The stability of the job or business also plays an important role in determining home loan eligibility.
  • Income– The amount of income through job or business determines if the home loan applicant will be able to repay the amount on time or not. The applicant must have sufficient and regular source of income.
  • Financial obligations– The loan applicant’s current financial obligations reflect his/her loan repayment capacity. Getting another loan with an existing one increases the risk of loan default.

Your home loan eligibility can be further improved by adding a co-applicant to your loan.

ICICI Bank Home Loan Documents Required

Some of the common documents required for ICICI Home Loan are:

For Salaried Individuals:

  • Application form with photograph duly signed
    • Identity, residence and age proof
    • Last 6 months bank statements
    • Last 3 months Salary-slips
    • Processing fee cheque
    • Form 16 / Income Tax Returns

For Self Employed Professionals / Self Employed Non-Professionals:

  • Application form with photograph duly signed
    • Identity, residence and age proof
    • Last 6 months bank statements
    • Processing fee cheque
    • Form 16 / Income Tax Returns
    • Proof of business existence
    • Education qualification certificate and proof of business existence
    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

ICICI Home Loan Schemes

Understanding that not all home loan requirements are same, ICICI Bank offers a wide range of home loan products for its customers. The ICICI home loan types include the following:

Instant Home Loan30 Year Home LoanHome Improvement Loan
Balance Transfer Plus Top UpInsta Top Up Loan24 Hours Top Up Loan
Top Up LoanExtraa Home LoansSaral Housing Loan
Pragati Home LoansLand LoanPradhan Mantri Awas Yojna

Compare ICICI Home Loan Offers

1. Instant Home Loan

Features & Benefits

  • Loan sanction in just a few clicks
  • No documents required at the time of loan sanction
  • Exclusive top offers for top corporates
  • Online application process

Interest Rates

SlabFloating Interest Rate
For Salaried IndividualsFor ICICI Employees
Upto 35L8.65%8.65%
35L – 75L9.15%8.75%
More than 75L9.20%8.75%

Processing Fees & Other Charges

Loan Processing Charges / Renewal Charges0.25% of the loan amount + applicable taxes
Prepayment ChargesNil for floating interest rate
CIBIL Report ChargesRs. 50
Administrative ChargesRs. 5000 or 0.25% (whichever is lower)
ICICI GroupNil

Eligibility

  • Customers who have ICICI Bank Salary Account can apply for this loan

To know more about ICICI Instant Home Loans, click here.

2. 30 Year Home Loan

Key Features & Benefits

  • Attractive floating and fixed interest rates options
  • EMI as low as 809 per lakh (T&C Apply)
  • Longer repayment tenure up to 30 years
  • Higher loan eligibility

Eligibility

  • Women borrowers and other individuals working for a select group of companies can apply for this loan

3. ICICI Home Improvement Loan

Key Features & Benefits

  • Cover a range of facilities internal as well as external to the structure without increase in the living space
  • The loan will be extended for acquisition, construction, repairs, renovation or up-gradation of a house in rural areas
  • Get the loan scheme at Home Equity rate of interest
  • LTV: Loan up to 90% of property value
  • Loan amount: Between 5 lakh and 15 lakh
  • Tenure: 3-20 years

Eligibility

  • Women and weaker section of the society are eligible to apply for this loan

4. ICICI Balance Transfer Plus Top Up

Balance Transfer Interest Rates

SlabFloating Interest RateFixed Interest Rate (2Y/3Y)
Upto 35L9.05%9.95%
35L – 75L9.15%10.05%
More than 75 L9.20%10.15%

Top Up Interest Rates

SlabFloating Interest RateFixed Interest Rate (2Y/3Y)
Upto 35L9.05%9.95%
35L – 75L9.15%10.05%
More than 75L9.20%10.15%

Processing Fees & Other Charges

Loan Processing Charges / Renewal Charges0.50 % + applicable taxes
CIBIL Report ChargesRs. 50 + applicable taxes
Administrative ChargesRs. 5000 + applicable taxes or 0.25% + applicable taxes (whichever is lower)
ICICI GroupNIL

Prepayment Charges

Types of Pre-Payment ChargesLoan TypeCharges
Floating Rate of InterestHome Loan and Home Improvement LoanNIL
Fixed Rate of InterestHome Loan, Top Up Loan2 % + Applicable Charges

Note:

  • Pre-payment charges mentioned above are applicable on full repayment of the loan
  • Nil charges on partial payment into the loan
  • Charges will be calculated on the principal outstanding on the loan closure date

Key Features & Benefits

  • Fast processing and quick disbursement with Express Balance Transfer
  • Flexible end use
  • Top up loan amount up to 100% of your original loan
  • Attractive interest rates
  • Can be availed to get Top Up on Home Loan, Loan Against Property (LAP), Non-Residential Premises Loan
  • The loan amount offered is from Rs. 8 lakh to Rs. 5 crore
  • Loan tenure is up to 30 years, as per the loan type

Eligibility

  • Both salaried and self-employed (professionals& non-professionals) can apply for the loan
  • The age of the loan applicant should be from 25 to 65 years (or lower retirement age)
Documents Required

For Salaried Individuals:

  • Application form with photograph duly signed
    • Identity, residence and age proof
    • Processing fee cheque
    • A copy of title documents Form 16 / Income Tax Returns
    • List of documents with existing financier
    • Latest Outstanding Letter from existing financier
    • Repayment Track Record
    • Latest 6 months’ bank statement of Salary Account
    • Latest 3 months’ salary slips
    • Form 16/ Income Tax Returns
    • RTR for existing loans for the last 12 months

For Self Employed Professionals / Self Employed Non-Professionals:

  • Application form with photograph duly signed
      • Identity, residence and age proof
      • Last 6 months bank statements
      • Processing fee cheque
      • Form 16 / Income Tax Returns
      • Proof of business existence
      • Education qualification certificate and proof of business existence
      • Last 3 years Income Tax Returns with computation of income
      • Latest 6 months’ bank statement of Current Account for self-employed
      • Form 16/ Income Tax Returns
      • Educational qualification certificate
      • Latest 3 years’ Financials –
        • Computation of Income
        • Balance Sheet and Profit & Loss Accounts(with Schedules and Audit Report) – Audited or CA certified
      • RTR for existing loans for the last 12 months

5. ICICI Bank Insta Top Up Loan

Key Features & Benefits

The Top Up facility can be availed by eligible customers in just a few clicks

    • Digital experience with no need for physical documents
    • Eligible individuals can get the Instant Top Up Loan for up to 10 years
    • The maximum loan amount that the bank can lend is of up to Rs. 20 lakhs

To know more about ICICI Insta Top-up Loan, click here.

6. ICICI Bank 24 Hours Top Up Loan

Key Features & Benefits

  • Pre-approved top up loan
  • Loan disbursal in just 24 hours
  • Can avail the loan for up to 10 years
  • Documentation process is simple
  • Loan Amount: Up to 25 lakh

Eligibility

All existing home loan borrowers can apply for the loan

7. ICICI Top Up Loan

Key Features & Benefits

  • Can be used to fulfill any business or personal financial requirements
  • Offers attractive interest rate
  • Offers loan tenure up to 20 years
  • Has simplified documentation process
  • Facilitates quick loan processing

Eligibility

  • Property construction to be completed within two years from the date of availing first disbursement of the loan
  • The plot must be within municipal limits of hub locations or outside municipal limits in case of direct allotment by Development Authority

8. ICICI Bank Extraa Home Loans

Key Features & Benefits

  • Enhance your loan amount by up to 20%
  • Depending on the loan variant, extend the repayment period up to 67 years of age
  • Get dual advantage of improved affordability and a longer repayment period
  • Enhancement in loan/repayment period is backed by Mortgage Guarantee
  • Facility is offered in Greater Mumbai, National Capital Region, Bengaluru and Surat
  • Available in 3 variants to address the needs of middle age salaried individuals, self-employed professionals and young age salaried individuals
  • The loan is offered in association with Indian Mortgage Guarantee Corporation (IMGC), a joint venture between National Housing Bank, Genworth Financial Inc., Asian Development Bank and International Finance Corporation.

Eligibility

  • Self-employed individuals and middle-age and young-age salaried customers can apply for this loan
  • The age of middle-age salaried individuals must be up to 48 years
  • The age of young-age salaried individual must be up to 37 years

 9. ICICI Bank Saral Housing Loan

Key Features & Benefits

  • The loan will be extended for acquisition, construction, repairs, renovation or up-gradation of a house in rural areas
  • LTV: Loan up to 90% of property value
  • Loan amount: Between 5 Lakh – 15 Lakh
  • Tenure: 3-20 years

Eligibility

Women and weaker section of the society are eligible to apply for this loan

10. ICICI Bank Pragati Home Loans

Key Features & Benefits

  • Under this loan scheme, eligible customers can avail Home Loan, Home Improvement Loan and Non Residential Premise Loan (NRP)
  • Loan amount:  From Rs. 5 lakh to Rs. 50 lakh
  • Tenure: Up to 20 years
  • Easy Balance Transfer facility available
  • Maximum LTV (HL) to salaried borrowers is as prescribed by RBI guideline
  • Maximum LTV (HL) for Self Employed Non Professional (SENP) borrowers is 65%
  • Maximum LTV (NRP) is 60%

Eligibility

  • Both salaried and self-employed individuals can apply for this loan
  • The minimum income required for salaried individuals is 10,000 per month
  • Salaried individuals must have the minimum work experience of 1 year
  • Self-employed individuals must have a business vintage of 5 years (3 years in same business)

11. ICICI Bank Land Loan

Key Features & Benefits

  • Enables the purchase of a residential plot of land for self-construction
  • Property construction to be completed within two years from the date of availing first disbursement of the loan
  • The plot must be within municipal limits of hub locations or outside municipal limits in case of direct allotment by Development Authority

12. Pradhan Mantri Awas Yojana – Credit Linked Subsidy Scheme (PMAY-CLSS)

Key Parameters of Credit Linked Subsidy

Scheme TypeEWS/LIGMIG – IMIG – II
Eligibility Family Income (Rs.)EWS: Up to Rs. 3 lakh

LIG: Between Rs. 3 lakh and Rs. 6 lakh

Between Rs. 6 lakh and Rs. 12 lakhBetween Rs. 12 lakh and Rs. 18 lakh
Carpet Area-Max (sq. m.)30 sqm** / 60 sqm**160200
Subsidy calculated on a max loan ofRs. 6 lakhRs. 9 lakhRs. 12 lakh
Interest Subsidy (%)6.504.003.00
Max Subsidy (Rs.)2.67 lakh2.35 lakh2.30 lakh
Validity of the scheme31st March 202231st March 202031st March 2020
Woman OwnershipMandatory*Non MandatoryNon Mandatory

Note: *The House constructed/acquired should be in the name of the female head of the household or in the joint names of a male head of the household and his wife. Only in cases, where there is no adult female member in the family, the house can be in the name of a male member of the household.

However, this stipulation is applicable only for new purchases and not for new construction (on an existing piece of land) or for enhancement/repairs of an existing house.

** This Norm is currently relaxed.

Key Features & Benefits

  • Features
  • Upfront interest subsidy benefit on principal outstanding
  • Aadhaar number(s) of the beneficiary family are mandatory for MIG category
  • Interest subsidy will be available for a maximum loan tenure of 20 years or the loan tenure availed by the borrower whichever is lower
  • There is no cap on the loan amount or on the cost of the property.
  • The Net Present Value (NPV) of the interest subsidy will be calculated at a discount rate of 9 %.
  • The additional loan beyond the specified limits, if any to be at a non-subsidized rate.

Eligibility

  • The scheme is offered to families, comprising of husband, wife and unmarried children. (An adult earning member irrespective of marital status can be treated as a separate household in MIG category)
  • The family should not own a pucca house in his/ her name or in the name of any member of the family, in any part of India.
  • The interest subsidy on purchase/ construction/ extension/ improvement of a house is provided to customers belonging to Economical Weaker Section (EWS)/Lower Income Group (LIG)/Middle Income Group (MIG).
  • The beneficiary family should not have received central assistance under the Mission “Housing for all by 2022”.

Apply for ICICI Bank Home Loan

Apart from visiting the branch personally, the individuals can apply for ICICI Bank home loans online. Some of the home loan schemes offered by the bank facilitate a complete digital experience. Customers can apply for these schemes online through internet banking without having to visit the bank branch personally or submit physical documentation.

An alternative way to apply for ICICI Bank home loan online is via Paisabazaar.com. The steps to do are given as follows:

  • Visit the Home Loan page at Paisabazaar.com
  • Fill out the required details such as type of loan, required home loan amount, etc.
  • Fill out some more details related to your home loan requirements and personal details such as property cost, your full name, date of birth, etc.
  • Select the check box to agree on the terms and conditions
  • Click the View Best Offers button to proceed

The best home loan offers as per your eligibility will appear for you to compare and choose.

  • Apply for the home loan offer you think best suits your requirements

Instantly you will receive an acknowledgement message, which will include a reference number. From here, you will receive a call from Paisabazaar’s home loan expert to take the process forward.

ICICI Home Loan Customer Care

To get ICICI Housing Loan related doubts or complaints resolved, customers can reach the lending institution through the following ways:

ICICI Home Loan Customer Care Number

 

1860 120 7777

 

ICICI Home Loan Alternate Customer Care Numbers
Delhi: 011 33667777
Kolkata: 033 33667777
Mumbai: 022 33667777
Chennai: 044 33667777

For any unresolved query, you may register grievances on the ICICI’s official website or dial the toll-free number 1800 200 3344 between 9 a.m. and 6 p.m. from Monday to Friday. Before diaing this number make sure you provide the Service Request Number (numeric digits only) which is not more than 2 months old.

FAQs

What are the ICICI Home Loan benefits?

ICICI Home Loan benefits are:

  • Offers home loan at affordable interest rates
  • Offers pre-approved home loans for urgent fund requirements
  • Provides a wide range of home loan schemes to suit different loan requirements
  • Offers home loan insurance to make home loan repayment easy in case of borrower’s demise
  • Allows to get a home loan sanctioned before selecting the property (depending on the scheme)
  • Offers home loan online application facility
  • Has easy and quick documentation process
  • Offers longer loan tenure with lower EMIs (depending on the scheme)

How much home loan can a customer get on his/her salary?

The loan amount a home loan applicant will get on his/her salary depends on various factors such as net salary, credit score, current debt situation and value of the property.

Which ICICI Home Loan Scheme is the best?

All ICICI Home Loan Schemes are different from each other. Each has its unique features and benefits to cater to varied home loan requirements. Which ICICI Home Loan Scheme will be the best for customers depends on their requirements and credit profiles. If you are unable to decide on which home loan scheme is best for you, check out the options, here.

Which factors determine ICICI Home Loan Eligibility?

ICICI Home Loan eligibility is dependent on various factors. Some of them are:

  • Age of the loan applicant
  • Type of employment (Salaried or Self Employed)
  • Work experience or total years in business
  • Status of business or employment
  • Monthly income or business turnover
  • Credit history of company or individual
  • Type of property being purchased under home loan

Which is better between fixed and floating home loan interest rates?

Here’s a comparison table between home loan floating and fixed interest rates to help you make an informed decision:

Fixed Interest RateFloating Interest Rate
This interest rate remains fixed throughout the loan tenure.This interest rate changes as per the change in the lender’s benchmark rate.
Fixed home loan interest rates are slightly higher than floating home loan rates.Floating home loan interest rates are slightly lower than fixed home loan interest rates.
Customers, who are comfortable with the prevailing interest rate, should opt for a fixed rate home loan.Customers unsure about the course of home loan interest rates can opt for a floating rate home loan.
In case of fixed rate home loans, there is a prepayment penalty.In case of floating rate home loans, there is no prepayment penalty.

It is difficult to say which home loan interest rate is better. Choosing between fixed and floating home loan interest rate depends on the loan applicant’s needs, preferences and financial profile.

Can a home loan applicant get a 100% loan to buy a new home?

No, a home loan applicant cannot get a 100% loan to buy a new house. This is because as per the Reserve Bank of India guidelines, lending institutions cannot lend more than 90% on housing loans. For the loan amount up to Rs 30 lakh, lending institutions can sanction >80% and <=90% of the pledged property.

ICICI Home Loan News

28 March 2019 – On Thursday, ICICI Bank launched two instant home loan products – Instant Home Loan and Insta Top Up Loan. Customers can avail both home loan facilities digitally using the bank’s internet banking facility. The ‘Instant Home Loan’ facility allows the bank’s pre-approved salaried customers to get home loans of up to Rs. 1 crore for a tenure of up to 30 years. The bank’s existing home loan customers can avail the ‘Insta Top Up Loan’ facility instantaneously up to Rs. 20 lakhs for tenure till 10 years. Instead of taking a few working days, the bank will disburse the top up the amount in the customer’s account immediately.

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ICICI Home Loan
(4.6/5 ) 50 Reviews
Write a review
May 27 , 2019
5/5
No foreclosure

I did not pay any foreclosure charges as I opted for ICICI floating interest rate.

May 27 , 2019
5/5
Refinance scheme

I refinanced my ICICI home loan at a lower interest rate and saved on some money.

May 27 , 2019
5/5
Higher loan amount

the loan amount is higher at 5 crores for any ICICI home loan.

May 27 , 2019
5/5
Tenure of home loan

the ICICI home loan was tenured at 25 years to close the liability.

May 27 , 2019
5/5
No Foreclosure charges

there is no foreclosure charge for my ICICI home loan at all.

May 27 , 2019
4/5
Low processing fees

the processing fees was just 0.25% of the ICICI home loan amount above 50 lakhs.

May 27 , 2019
5/5
No security

the security of the ICICI home loan was the home itself without issues.

May 20 , 2019
5/5
Foreclosure charges

I did not pay any foreclosure charges since I opted for floating interest.

View All Reviews
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