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Land Loans made simple
Are you planning to purchase a piece of land to build your dream home or for investment purposes? ICICI Bank offers Land Loans to help you finance your land purchase. ICICI Bank Plot Loans are available at attractive interest rates with a tenure of up to 20 years.
Eligibility Criteria for a Land Loan
The eligibility criteria for you to avail an ICICI Bank Land Loan depends on the following factors:
Loan type | Land Loan |
---|---|
Age | Minimum: 20 years, Maximum: 70 years |
Eligible profiles | Salaried & Self-Employed |
Tenure | Up to 20 years |
Explore our unique Home Loan solutions
Balance Transfer
Home Loan
Transfer your home loan conveniently and get lower interest rates.
Commercial Property Purchase Loan
Loan For Purchase / Construction Of Commercial Property Up To 75%
Home Construction Loan
Raise funds to purchase land and construct a property on the same land
Land Loan FAQs
I want to purchase a land. However, I do not have any approved plans etc. for the construction. Can I still take the loan for the purchase of the land?
Yes, Land Loan can be taken for purchase of land without approved plans. Post completion of this transaction, you can take the estimate and other construction approvals.
Do I get income tax benefit on Land Loan?
No, there is no income tax benefit for Land Loans. The benefit is available only for Home Loans.
What is the maximum time available for starting construction on a purchased land?
The construction has to be completed within a period of 2 years from the date of disbursement of Land Loan.
I want to purchase a commercial land and construct a shop on the plot. Can I get a Land Loan for the same?
We have a separate product offering for the purchase and/or construction on a commercial or industrial plot for our self-employed customers. You can apply for the same under that program.
I am a builder, constructing a 2 storey, 2-unit house which will be sold as individual units. Can I avail a Land Loan and Home Loan for the construction of the house?
No, Land Loans are provided for construction of individual residential units for self-consumption only. It cannot be availed by a builder or for construction of multiple units for sale.
What are the documents required for confirming construction of a house on a purchased plot?
For information related to the documents required and other details, please click here
Can I get a Top-up Loan on a Home Loan?
Yes, you can get a Top-up Loan on your existing ICICI Bank Home Loan. It provides additional funds over and above your original loan amount, making it convenient for various financial needs.
What is the processing fee for a Home Loan Top-up?
The processing fee for an ICICI Bank Home Loan Top-up is 0.5% to 2% of the Loan amount. This fee covers the administrative costs associated with processing your Loan application. Contact the Bank for further details.