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Your guide to getting started

We have compiled easy-to-understand articles, infographics and videos to help you with your home buying journey from consideration to when you finally move in.

  • Various type of benchmarks governing your interest rates

    Read knowledge-hub

  • Thinking of upgrading to a bigger home? Consider these factors

    Read knowledge-hub

  • Is it better to rent a home or to buy it?

    Read knowledge-hub

  • What are bank approved projects

    Read knowledge-hub

  • Under construction vs. resale

    Read knowledge-hub

  • How do you choose a Home Loan Provider?

    Read knowledge-hub

Calculators for you

When you're buying your first home, getting an understanding of the finances is an important first step

HOME LOAN EMI CALCULATOR CALCULATE ELIGIBILITY CALCULATE AFFORDABILITY

Calculate your ICICI Home Loan EMI

Use the calculator below to get an estimate of how much you will pay
every month if you decide to take a home loan.

Loan Amount

The value entered must be a number that is greater than or equal to 0 and less than or equal to 50000000.

Interest Rate*

The value entered must be a number that is greater than or equal to 6 and less than or equal to 12.

Loan Term

The value between 1 to 30 Years.
calculator

Your Monthly EMI is:

?�28,752.16
APPLY FOR HOME LOAN

*Interest rate subject to CIBIL score

Principal

?�0

Interest Payable

?�0

Total Amount Payable

?�0

AVAIL NOW

Home Loan Eligibility Calculator

Use the calculator below to get all the details about your loan

Monthly Income (Gross)

The value entered must be a number that is greater than or equal to 0 and less than or equal to 5000000.

Interest Rate*

The value entered must be a number that is greater than or equal to 6 and less than or equal to 20.

Tenure

The value between 1 to 30 Years.

Existing EMIs

The value between 0 to 50000000.
calculator

Your Home Loan Eligibility will be:

-

Your Monthly EMI will be:

-
APPLY FOR HOME LOAN

*Interest rate subject to CIBIL score

Home Loan Affordability Calculator

Use the calculator below to get all the details about your loan.

Down Payment
(Own Contribution)

The value entered must be a number that is greater than or equal to 0 and less than or equal to 50000000.

Tenure

The value between 1 to 30 Years.

Interest Rate*

The value entered must be a number that is greater than or equal to 6 and less than or equal to 20.

Monthly Income (Gross)

The value entered must be a number that is greater than or equal to 0 and less than or equal to 5000000.

Existing EMIs

The value between 0 to 50000000.
calculator

Your Home Loan Eligibility
will be:

? 5,043,590

Your Monthly EMI
will be:

? 60,000

Property Cost you can
afford:

? 55,43,590

Remaining Balance:

? 40,000
APPLY FOR HOME LOAN

*Interest rate subject to CIBIL score

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Home Loan Glossary

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Acre

A unit of area equivalent to 43,560 square feet or 4,047 square meters approximately. It is a commonly used term for larger land parcels in India.

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Allotment Letter

A letter issued by the developer (private or state development agency) allotting a particular plot or unit in an under development or under construction project. This letter is important in availing loan from banks. It is generally superseded by builder-buyer agreement once that is signed.

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Amortization

The loan payment consists of a portion which will be applied to pay the accruing interest on a loan, with the remainder being applied to the principal. Over time, the interest portion decreases as the loan balance decreases, and the amount applied to principal increases so that the loan is paid off (amortized) in the specified time.

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Amortization Schedule

A table which shows how much of each payment will be applied toward principal and how much toward interest over the life of the loan. It also shows the gradual decrease of the loan balance until it reaches zero.

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Co-Borrower

A party or individual who cosigns a mortgage loan. Co-borrowers are jointly liable with the other borrower for the balance of the loan period. 

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Completion Certificate/ Statement

A certificate/ statement issued by the local development authority certifying that all necessary works have been completed and that the property is fit for occupation. In case of private development, such certificate can be given by the builder to individual unit owners at the time of possession.

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Downpayment / Margin Money

The part of the purchase price of a property that the buyer pays in cash and does not finance with a loan

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Encumbrance Certificate

A report issued by Registrar of Assurances or Sub-Registrar's office after due verification of the relevant documents certifying that the property in question is free from all encumbrances such as loans, leases, easements or restrictions

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Fixed Interest Rate

An interest rate on a loan that remains fixed either for the entire term of the loan or for part of the term and does not increase or decrease with market fluctuations.

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Floating Interest Rate

An interest rate that is allowed to move up and down with the rest of the market or along with an index.

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Foreclosure

A situation in which a homeowner is unable to make principal and/or interest payments on his or her property loan, so the lender, be it a bank or building society, can seize and sell the property as stipulated in the terms of the loan agreement.

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Loan Processing Fee

A fee paid to a lender (bank) for processing application of a loan. This fee is charged by the lender to cover its administrative and other application related costs.

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Loan to Value (LTV) Ratio

The amount of the loan financed as a proportion of the property value, expressed as a percentage.

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No Objection Certificate (NOC)

A certificate issued by the concerned local authority that the plans are in order and conform to the guidelines and rules in force. In other words, the authority concerned has NO OBJECTION to the commencement of construction

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Occupancy Certificate

A certificate issued by the local development authority certifying that all necessary works have been completed as per the sanctioned plans and that the property is fit for occupation. The OC is issued after clearance from the water, electricity, sewerage, fire fighting authorities etc.

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Pre Approval

An evaluation of a potential borrower by a lender to determine whether the borrower qualifies for a loan

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Principal

The amount borrowed or still to be repaid. The part of the monthly payment that reduces the balance of the loan.

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Refinance

The process of paying off one loan with the proceeds from a new loan using the same property as security.

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Resale Property

Resale signifies that a property is being sold by the person who was allotted the same property. In other words, when property once purchased is now put on sale by the initial buyer, the property is said to be on resale.

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Stamp Duty

Stamp duty is the tax governments place on legal documents, usually in the transfer of assets or property.

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Title Search

An investigation of public records into the history of ownership of a property to check for liens, unpaid claims, restrictions or problems, to prove that the seller can transfer free and clear ownership.

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Under Construction Property

A property which has received all necessary approvals from authorities, raised funds from private investors or financial institutions, appointed the construction contractor and is currently under construction.

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