About ICICI Bank Home Loans

ICICI Bank is a fairly popular Indian multinational banking and financial services company that has gradually evolved as amongst the largest banks of India, over a period of time. Headquartered in Mumbai, ICICI Bank offers all kinds of banking products and financial services to both its retail and corporate clients, through special subsidiaries and multiple delivery channels. It has close to 14,000 ATMs and 4500 branches in India, employing more than 75,000 people.

ICICI Bank promises home loans with higher eligibility, lower EMIs and competitive interest rates. The entire application process can be completed online in a matter of few minutes, facilitating quick processing and faster disbursal of the loan. ICICI Bank Home Loan can be availed for either purchasing an already-selected home of your choice, or from any of the bank’s approved projects. The bank also provides preapproved loans to its qualifying customers. Its existing customers enjoy reduced documentation and sometimes attractive deals on the interest rate as well. Below you can find more details on ICICI Bank Home Loan eligibility criteria, features and charges.

Home Loan Eligibility Criteria for Salaried / Self-Employed

In order to avail ICICI Bank Home Loan, the applicant must be at least 21 years old at the time of sanctioning of the loan application. The entire loan amount must be repaid before reaching 65 years age. You could be either salaried or self-employed with a regular source of income. In the event that you choose to bring a co-applicant on board, he/she must be minimum 18 years old. Below provided are updated and precise details on ICICI Bank Home Loan eligibility criteria.

18 – 65 years

Age (Min – Max)

4k – 65k

Minimum Income (Metro Cities)

4k – 65k

Minimum Income (Other Cities)

6 – 10 yearsk

Overall Employment

6 – 10 years

Tenure Current Employment

750 Points

CIBIL Score (=>)

18 – 65 years

Age (Min – Max)

4k – 65k

Minimum Income (Metro Cities)

4k – 65k

Minimum Income (Other Cities)

4k – 65k

Minimum Income
(Doctors/ CA)

5 – 10 Years

Post Qualification experience a
(Doctors / CA)

5 – 10 Years

Post Qualification experience a
(CS / Architect)

750 Points

CIBIL Score (=>)

ICICI Bank Home Loan Features / Details

ICICI Bank Home Loan comes with various attractive features that make this product amongst its most popular offerings. You get affordable interest rates, in both fixed as well as floating arrangement. The loan amount can be sanctioned even before finalizing the property. The tenure of the loan can range from 3 years to 30 years. The balance transfer facility provided by the bank enables people to transfer any of their existing home loan liabilities to ICICI Bank at attractive interest rates. Following are up to date details on ICICI Bank Home Loan features.

8.40%

Interest Rate (Min)

5 – 30 Years.

Loan Tenure

25k – 50Lacs

Loan Amount (Min – Max)

ICICI Bank Home Loan Fees / Charges

ICICI Bank Home Loan involves a processing charge of 0.25% of the loan amount (or a maximum of INR 11,800). Various other pertinent charges like cheque bounce charges, cheque swapping charges, loan cancellation charges, foreclosure charges, duplicate no objection certificate charges, amortization schedule charges etc. might also be applied depending upon the borrower’s requirements and the circumstances. Updated details on all such ICICI Bank Home Loan fees/charges can be found below.

2.4% of Loan Amount.

Processing Fees

2.4% – 5.2% of amount prepaid.

Pre-payment Charges

Yes / No

Part Payment Facility

2000

Part Payment Processing Fees