ICICI Loan Against Property

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Name :
Date :20/01/2020

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Paisabazaar.com,
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 :20/01/2020

CC:
Paisabazaar.com,
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 : 20/01/2020

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 :20/01/2020

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

EXPERIAN TERMS AND
CONDITIONS

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 : 20/01/2020

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 :20/01/2020

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 :20/01/2020

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Updated: 05-12-2019 11:37:23 AM

ICICI Bank offers Loan Against Property to individuals who require funds to meet their business or personal needs against the mortgage of their existing property. Individuals can mortgage both residential and commercial properties to avail the loan. While customers can apply for Loan Against Property through ICICI Bank, the funds will be disbursed through ICICI Home Finance Company Limited – a separate entity of the ICICI Group, registered under National Housing Bank (NHB), the regulatory authority for the Housing Finance Companies.

Loan AmountRs. 10 lakh – Rs. 5 crore
Interest Rate9.85% onwards (floating)
Loan-to-Value (LTV) RatioUp to 70% of the property value
Loan TenureUp to 15 years
Processing Fee1% of the loan amount
Table of Contents
1. Features & Benefits
2. Interest Rates
3. Eligibility Criteria
4. Documents Required
4. Processing Fees & Other Charges
5. Loan Against Property EMI Calculator
6. ICICI Mortgage Loan Apply Online
7. Frequently Asked Questions (FAQs)
ICICI Loan Against Property Features & Benefits
ICICI Mortgage Loan Interest Rates
ICICI Loan Against Property Eligibility Criteria
Documents Required for ICICI Loan Against Property
Processing Fees & Charges
ICICI Bank Loan Against Property EMI Calculator
Apply for ICICI Bank Loan Against Property
ICICI Bank Loan Against Property FAQs

ICICI Loan Against Property Features & Benefits

The key benefits and features of ICICI Bank Loan Against Property are:

  • The loan can be used for both business and personal use
  • The maximum loan amount offered is Rs. 5 crore
  • Maximum loan tenure is 15 years
  • Offers balance transfer facility at an attractive interest rate
  • Offers special offers for doctors
  • Can mortgage both residential and commercial properties
  • Offers upto 90% of the total LAP as an overdraft

ICICI Mortgage Loan Interest Rates

Interest Rates for Salaried & Self Employed Professionals

SlabFloating Interest RatesFixed Interest Rates

(3Y/5Y/10Y)

Upto Rs. 50 lakh10.30%11.95%
Rs. 50 lakh to Rs. 1 crore10.25%11.95%
More than 1 crore10.20%11.95%

Note: The ICICI Bank LAP interest rate is as updated on the bank’s website. The figures given in the table are indicative and are subject to change at the bank’s or RBI’s discretion without prior information.

Interest Rates for ICICI Group/Infosys Employees

SlabFloating Interest Rates
Upto Rs. 50 lakh9.85%
Rs. 50 lakh to Rs. 1 crore9.85%
More than 1 crore9.85%

Note: The ICICI Bank LAP interest rate is as updated on the bank’s website. The figures given in the table are indicative and are subject to change at the bank’s or RBI’s discretion without prior information.

Factors that Affect Loan Against Property Interest Rate

Some of the factors that affect Loan Against Property Interest Rates are:

  • Loan tenure:Home loans involve a big sum of money; therefore, they have longer loan tenure, usually stretching upto 10-15 years. The shorter the loan tenure, the higher will be the EMIs and vice-versa. The ICICI Bank might levy a little higher interest rate if the loan is availed for shorter loan tenure. Some lenders might levy a slightly higher interest rate if the loan is availed for shorter loan tenure.
  • Type of property: ICICI Bank LAP is easier to get as it accepts both residential and commercial properties as a mortgage. However, the interest rate given on them might differ because of the difference in their value. The age of the property and location are also influencing factors.
  • Borrower’s profile:The borrower’s details such as their age, occupation, city of residence, income, etc. reflect their repayment capacity; thus, affecting the interest rate levied by the lender. The ICICI Bank LAP interest rates will be higher for an individual nearing retirement. Also, usually, the interest rate levied for salaried professionals is lower than the interest rates offered to self-employed professionals. This is because the income of salaried individuals is regular. And the income of the self-employed professionals is not regular or depends on their business. The lender may charge
  • Credit score: Your CIBIL Score or credit score reflects how responsibly you can handle your debts. Usually, consumers with higher credit scores get a loan at lower interest rates than consumers with lower credit scores.

ICICI Loan Against Property Eligibility Criteria

The eligibility for ICICI Bank Loan Against Property is evaluated on the basis of the financials of the customer and the value of the property being pledged as collateral. Other important prerequisites required to apply for the loan are:

ICICI Bank Loan Against Property Eligibility Criteria
Eligible ProfileSalaried and Self-employed Professionals
Age Limit25 to 65 years or retirement age, whichever is earlier

Documents Required for ICICI Loan Against Property

Some of the common documents required for ICICI Bank Loan Against Property are:

SalariedSelf EmployedSelf Employed Professional
Application Form with photograph duly signedApplication Form with photograph duly signedApplication Form with photograph duly signed
Identity, residence and age proofIdentity, residence and age proofIdentity, residence and age proof
Processing fee chequeProcessing fee chequeProcessing fee cheque
Copy of title documents for the property being mortgagedOffice address proofOffice address proof
Latest 6 months’ savings account statementCopy of title documents for the property being mortgagedCopy of title documents for the property being mortgaged
Latest 3 months’ salary slipsProof of business stability/existenceProof of business stability/existence
Form 16/ Income Tax ReturnsBusiness profileBusiness profile
RTR for existing loans for the last 12 monthsLatest 6 months’ current account statementLatest 6 months’ current account statement
Educational qualification certificateForm 16/ Income Tax ReturnsForm 16/ Income Tax Returns
Educational qualification certificateEducational qualification certificate
Latest 3 years’ Financials

a) Computation of Income

b) Balance Sheet and Profit & Loss Account (with Schedules and Audit Report) – Audited or CA certified

Latest 3 years’ Financials

a) Computation of Income

b) Balance Sheet and Profit & Loss Account (with Schedules and Audit Report) – Audited or CA certified

RTR for existing loans for the last 12 monthsRTR for existing loans for the last 12 months

Processing Fees & Charges

ParticularsFee & Charges
Loan Processing Charges/Renewal Charges1.00% of the loan amount
Prepayment Charges4% on the principal outstanding*
Part Prepayment ChargesNil
CIBIL Report ChargesRs. 50 + applicable taxes
Administrative chargesRs. 5000 or 0.25% (whichever is lower)
Conversion charges· 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

* The prepayment charges are applicable only for non-individual borrowers including Private Ltd., Public Ltd., Partnership Firms, Proprietorship firms, HUFs, etc.

Note:

  • The prepayment charges mentioned above are applicable on full repayment of the loan
  • The applicable prepayment charges will be calculated on the principal outstanding on the loan closure date
  • If the borrower/s makes full prepayment within one year of part prepayment, the full prepayment fees shall be applicable on the amount prepaid to foreclose the loan and on all amounts tendered by the borrower/s towards the prepayment of the facility during the last one year from the date of final prepayment
  • Current principal outstanding and all amounts tendered by the borrower towards prepayment of the Facility during the last one year from the date of final prepayment
  • Administrative charges are one-time charges levied for the purpose of appraising the valuation and legal verification of property to ascertain suitability of accepting collected and the same is independent of the outcome/result of such appraisal. Please note that the administrative charges are payable at the time of disbursement of the loan facility
  • The GST and other charges applicable on the basis of the 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 Bank Loan Against Property EMI Calculator

An EMI calculator is an online tool that helps you calculate your monthly instalments for repayment towards your Loan Against Property. Paisabazaar.com provides the facility of Loan Against Property EMI Calculator for free. It is easy for anyone to use. While manual calculation takes time, the online EMI calculator provides instant results.

The steps to use Paisabazaar’s Loan Against Property EMI Calculator are given as follows:

  • Visit the Paisabazaar’s Loan Against Property EMI Calculator page
  • Enter the following details:
  • Loan Amount: The principal amount that you wish to apply for
  • Rate of Interest: The rate of interest that the ICICI Bank is offering you for your desired amount
  • Loan Tenure: The tenure over which you would like to repay the amount borrowed

The moment you enter the above details, the calculator will show result.

Apply for ICICI Bank Loan Against Property

Apply for ICICI Bank Loan Against Property – Offline

Visit the Nearest Bank Branch: To apply for ICICI Bank Loan Against Property, customers can visit their nearest bank branch and get in touch with the representatives to take you through the application process.

Give a Missed Call: The bank also provides a Missed Call facility to its customers. Interested individuals can give a missed on this toll-free number – 8100881008 anytime and wait for the bank executive to call them back. When they receive the call, the bank executive will ask for a few details and then process the loan request.

Apply for ICICI Bank Loan Against Property – Online

ICICI bank provides an online loan application facility to its customers. They can avail this facility through the bank’s website where they will need to fill out a form. On successful submission, the bank will get in touch with the concerned person within the next 24 hours to take the process further.

Customers can also apply for the loan through online marketplaces like Paisabazaar.com. Applying for a loan through an online marketplace improves the chances of getting best loan rates and quick disbursal.

To apply for ICICI Bank Loan Against Property at Paisazbaar.com, follow these steps:

  • Visit the Paisabazaar’s Loan Against Property
  • Fill out the form and accept terms and conditions to proceed.
  • You will receive an OTP via SMS on your mobile number.
  • Enter the OTP.
  • Provide more details.
  • View offers for which you are eligible and apply.

Within 24 hours, the bank’s relationship manager will get in touch with you to take the process forward.

ICICI Bank Loan Against Property FAQs

Q. Loan Against Property from ICICI Bank can be used for which purpose?

Customers can avail ICICI Bank Loan Against Property for any personal or business purposes such as expanding a business, children’s higher education, purchase of expensive equipment, etc.

Q. Which type of property can be mortgaged for ICICI Bank’s Loan Against Property?

Both residential and commercial properties can be pledged as a mortgage to avail Loan Against Property. However, the property customers will offer as a security must be free from any charges.

Q. How much loan can a customer get under ICICI Bank Loan Against Property?

The maximum loan amount that a customer can get bank under ICICI Bank Loan Against Property is Rs. 5 crore. However, the loan amount offered by the bank to a customer will depend on his/her financials and also the value of the property.

Q. How much amount will the ICICI Bank be able to finance against a property?

The amount which the bank will grant you a loan depends on the customer’s repayment capacity, property type and the market value of the concerned property. The bank can give customers a loan of upto 70% of the market value of the property. The market value of the property will be appraised by the bank’s team of Valuers.

Q. Does ICICI Bank offer Loan Against Property as an overdraft?

Yes, customers can avail upto 90% of the total LAP as an overdraft.

Did you find this article helpful? Rate it.

ICICI Loan Against Property
(4/5 ) 4 Reviews
Write a review
Dec 26 , 2016
4/5
Happy with my LAP

I used to get offer messages from the site. I never paid much interest its just now I bumped into the site when I wanted a LAP. Very nice and very easy to apply. I took a ICICI LAP and I am really happy with the process. They have very good customer ..Read more...

Dec 24 , 2016
3/5
Good services

In just 7 days I received my loan amount. All was good and everything was done very smoothly. My loan got processed and I got it within 5 days. Now I am planning to apply for a ICICI LAP from the website.

Dec 22 , 2016
5/5
Good loan schemes

All I can say is excellent services. I think it is the first time I am reviewing here. They have very good process of applying for product and services. I got my ICICI LAP scheme at an interest rate of 13% p.a. only.

Dec 18 , 2016
4/5
Fast application process

I applied for my ICICI loan against property. I got my loan disbursed at a very low interest rate of 12.45%. Applying for my loan was very easy and convinient. I just entered few details and uploaded the required documents. Superb website! I cant bel..Read more...

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