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| ICICI Home Loan Highlights | |
| Interest Rate | 6.75% onwards |
| Loan Amount | Depends on the applicant’s credit profile |
| Loan Tenure | Up to 30 years |
| Processing Fees | Up to 2% of the loan amount + 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.
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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:
| New Home Loan | Land Loan | Extraa Home Loan |
| NRI Home Loan | Express Home Loan | Pratham Home Loan |
| Instant Home Loan | Top Up Loan | Insta Top Up Loan |
| 24 Hours Top Up Loan | Balance Transfer Plus Top Up | Money Saver |
1. ICICI Bank Home Loan
ICICI bank offers new home loan to both salaried and self-employed individuals. Customers can apply for this loan for several purposes including buying/constructing a new house, extending, repairing or improving an existing property.
| Loan Amount | As per eligibility | |
| Interest Rate* | For salaried: Up to Rs. 35 lakh: 6.75% – 7.15% Rs. 35 lakh – Rs. 75 lakh: 7.00% – 7.30% Above Rs. 75 lakh: 7.10% – 7.40% | For self-employed: Up to Rs. 35 lakh: 6.90% – 7.30% Rs. 35 lakh – Rs. 75 lakh: 7.15% – 7.45% Above Rs. 75 lakh: 7.25% – 7.55% |
| Loan Tenure | Up to 30 years | |
| Processing Fee | 0.50% – 2.00% of the loan amount or Rs. 1,500 (Rs. 2,000 for Mumbai, Delhi & Bangalore), whichever is higher + GST | |
2. ICICI Bank Land Loan
ICICI Bank Land Loan is for all those individuals who wish to buy a land for construction of residential/non-residential property. You can also avail the loan for construction depending on the construction cost estimate. The construction has to be completed within a period of two years from the date of availing the loan.
| Loan Amount | Rs. 8 lakh – Rs. 3 crore | |
| Interest Rate* | For salaried: Up to Rs. 35 lakh: 7.00% – 7.40% Rs. 35 lakh – Rs. 75 lakh: 7.25% – 7.55% Above Rs. 75 lakh: 7.35% – 7.65% | For self-employed: Up to Rs. 35 lakh: 7.15% – 7.55% Rs. 35 lakh – Rs. 75 lakh: 7.40% – 7.70% Above Rs. 75 lakh: 7.50% – 7.80% |
| Loan Tenure | Up to 20 years | |
| Processing Fee | 1% of the loan amount + GST | |
| Age Limit | 25 – 65 years | |
3. ICICI Bank Extraa Home Loan
ICICI Bank Extraa Home Loans allow you to enhance your loan amount by up to 20%. It provides you an option to extend the loan repayment period up to 67 years of age. The loan is available in three variants to address the needs of middle age salaried individuals, self-employed professionals and young age salaried individuals. Moreover, the enhancement in loan/repayment period is backed by Mortgage Guarantee, making the eligibility criteria less stringent.
| Loan Amount | Up to Rs. 2 crore | |
| Interest Rate* | For salaried: Up to Rs. 35 lakh: 7.00% – 7.40% Rs. 35 lakh – Rs. 75 lakh: 7.25% – 7.55% Above Rs. 75 lakh: 7.35% – 7.65% | For self-employed: Up to Rs. 35 lakh: 7.15% – 7.55% Rs. 35 lakh – Rs. 75 lakh: 7.40% – 7.70% Above Rs. 75 lakh: 7.50% – 7.80% |
| Loan Tenure | Up to 67 years of age | |
| Processing Fee | 1% of the loan amount + GST | |
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4. ICICI Bank NRI Home Loan
ICICI NRI Home Loan allows salaried and self-employed Non-Resident Indians (NRIs) or Persons of Indian Origin (PIOs) to get financial support when investing in properties. The bank also has a large database of real estate projects approved for funding.
| Loan Amount | As per eligibility | |||||||||
| Interest Rate | As per credit assessment | |||||||||
| Loan Tenure | Up to 30 years | |||||||||
| Age Limit | 21 – 65 years or retirement age, whichever is earlier at the time of loan maturity | |||||||||
| Work Experience/ Business Continuity | Salaried: At least 1 year of employment overseas Self-Employed: At least 3 years in current business overseas | |||||||||
| Minimum Income |
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4. ICICI Bank Express Home Loan
ICICI Bank offers Express Home Loans, which is designed to make your home loan process quick and easy. With this facility you can apply for a home loan online anytime and once you submit your application, you get a quick approval on the loan amount and a provisional sanction letter, which comes with a validity of 6 months.
| Loan Amount | Up to Rs. 5 crore |
| Interest Rate | 6.75% p.a. onwards |
| Loan Tenure | Up to 30 years |
5. ICICI Bank Pratham Home Loan
Under affordable housing segment, ICICI bank offers Pratham home loans to both salaried and self-employed individuals. Individuals can avail home loan, home improvement loan, non residential premises loan and balance transfer.
| Loan Amount | Rs. 5 lakh – Rs. 50 lakh |
| Interest Rate | 6.75% p.a. onwards |
| Loan Tenure | Up to 20 years |
| Processing Fee | 2% of the loan amount + GST |
| Age Limit | 21 – 70 years |
| Work Experience/ Business Continuity | Salaried: At least 1 yr. of total exp. including 6 months’ exp. in the current organisation Self-employed: At least 5 yrs. in business including 3 yrs. in the current business |
6. ICICI Bank Instant Home Loan
ICICI Instant Home Loan is an instant sanction for customers with pre-approved ICICI home loan offers. And ICICI Bank generates pre-approved home loan offers for customers having a salary account with the bank and the loan amount is decided on the basis of the salary credits appearing in the bank account. The eligible customers can generate their home loan sanction letter online in just a few clicks. The sanction letter will be valid for a certain period from the date of generation of the sanction letter. Since it is a pre-approved loan, therefore, the bank doesn’t need an
| Loan Amount | As per credit assessment | |
| Interest Rate* | For salaried: Up to Rs. 35 lakh: 7.50% – 7.80% Rs. 35 lakh – Rs. 75 lakh: 7.90% – 8.05% Above Rs. 75 lakh: 7.95% – 8.10% | For self-employed: Up to Rs. 35 lakh: 7.65% – 7.95% Rs. 35 lakh – Rs. 75 lakh: 8.05% – 8.20% Above Rs. 75 lakh: 8.10% – 8.25% |
| Loan Tenure | Up to 30 years | |
| Processing Fee | 0.25% of the loan amount + GST | |
7. ICICI Top Up Loan
ICICI Top-up Loan allows customers to avail of a certain amount of money, over and above the existing Home Loan. Borrowers can use this loan to meet a host of personal and business related expenses including home renovation, business expansion and funding of your child’s higher education. Moreover, it is easily available at better rate of interest and longer tenure as compared with the other options.
| Min. Loan Amount | Rs. 50,000 |
| Max. Loan Amount | Up to 100% of the original loan amount sanctioned |
| Interest Rate | As per credit assessment |
| Loan Tenure | Up to 20 years |
8. ICICI Bank Insta Top Up Loan
Insta Top Up Loan is a pre-approved loan for all existing ICICI home loan customers. The funds from this loan can be used for any purpose and will be disbursed directly in your ICICI Bank account. Moreover, for the convenience of the customers, the bank offers a complete digital experience with no physical documentation.
| Loan Amount | Up to Rs. 1 crore |
| Interest Rate | As per credit assessment |
| Loan Tenure | Up to 10 years |
9. ICICI Bank 24 Hours Top Up Loan
ICICI bank 24 hour top up loan is an additional loan facility available to existing ICICI home loan borrowers, who have a pre-approved top up loan offer from the bank. The funds can be availed by any salaried and self-employed professionals or non-professionals, over and above their existing home loans. The top up loan gets credited to your account within 24 hours. The funds vailed can be used to cover big-ticket expenses, such as marriage costs, child’s education, travel costs, home renovation, medical emergencies and more.
| Loan Amount | Equivalent to 100% of the home loan amount |
| Interest Rate | As per credit assessment |
| Loan Tenure | Up to 10 years |
10. ICICI Balance Transfer Plus Top Up
ICICI’s balance transfer facility allows you to transfer your outstanding home loan balance from your existing lender to ICCI Bank at a lower rate of interest. The balance transfer facility not only helps you lower your EMIs but also the overall interest payout. Other benefits that comes with the balance transfer facility include online sanction facility and the provision of top up loan to fund personal and business related financial requirements.
| Loan Amount | Up to 100% of the original loan amount | |
| Interest Rate* | For salaried: Up to Rs. 35 lakh: 6.75% – 7.15% Rs. 35 lakh – Rs. 75 lakh: 7.00% – 7.30% Above Rs. 75 lakh: 7.10% – 7.40% | For self-employed: Up to Rs. 35 lakh: 6.90% – 7.30% Rs. 35 lakh – Rs. 75 lakh: 7.15% – 7.45% Above Rs. 75 lakh: 7.25% – 7.55% |
| Loan Tenure | Up to 20 years | |
| Processing Fee | 0.50% – 2.00% of the loan amount or Rs. 1,500 (Rs. 2,000 for Mumbai, Delhi & Bangalore), whichever is higher + GST | |
11. ICICI Bank Money Saver
ICICI Money Saver is an overdraft facility, which allows you to save on the interest paid towards your home loan premium. Under this plan, your home loan account is a Money Saver Account, where you deposit excess funds; your savings, bonus, increment, etc. The funds parked in the Money Saver Account reduces the interest amount, as interest is calculated on a daily basis on the difference between the principal outstanding of your home loan and the funds maintained in the Money Saver Account. Thus, the more the funds maintained in the Money Saver Account, the more will be the savings on interest. The funds deposited in the Money Saver Account can be withdrawn by the borrowers, as and when required. Moreover, you get access to a chequebook, Debit Card and Internet Banking facilities to carry out banking transactions. You also get top up loan facility under this home loan overdraft facility.
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ICICI Home Loan Documents
Some of the common documents required for ICICI Home Loan are:
- Application form with photograph duly signed
- Proof of Identity
- Proof of Residence
- Proof of Age proof
- Processing fee cheque
For Salaried Individuals:
- Last 6 months bank statements
- Last 3 months Salary-slips
- Form 16 / Income Tax Returns
For Self-employed Professionals/ Self-employed Non-professionals:
- Identity, residence and age proof
- Last 6 months bank statements
- 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
Note: The above list of documents is indicative and your lender may ask for more documents during the loan process.
How to 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 home 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 checkbox 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.
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ICICI Home Loan Processing Fees & Other Charges
| Particulars | Applicable Fees & Charges |
| Loan Processing Charges / Renewal Charges | 0.50% of loan amount or Rs. 1,500 (Rs. 2,000 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 Charges | Rs 500 |
| Document Retrieval Charges | Rs 500 |
| Cheque bounce charges | Rs 500 |
| Duplicate No Objection Certificate / No Due Certificate | Rs 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 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
Q. How should I contact ICICI Bank for home loan related queries and assistance?
For queries related to ICICI home loan or in case of any general enquiries, get in touch with the ICICI Home Loan Customer Care in the following ways:
- Call ICICI customer care at 1860 120 7777
- Give a missed call at 9022499400
- Send an e-mail at customer.care@icicibank.com
