HOME LOAN

Determining your eligibility for a Home Loan is crucial before initiating the application process. This eligibility table will outline the key factors lenders consider, including income, credit score, employment status, age and property value, helping you assess your likelihood of approval and plan your home purchase journey effectively.

Explore Home Loan Interest Rates and Charges with the table given, outlining the costs and rates involved in securing your home financing.

Below is the list of documents required for a Mortgage Loan based on profile:

• Individuals:

  • Identity Proof & Address Proof of Individuals: Aadhaar/Passport/Driving License/Voter ID/National Rural Employment Guarantee Act (NREGA) Card/Letter from the National Population Register (NPR) containing details of your name and address.

  • DOB Proof: Passport/Driving License/Voter ID/NREGA Card/Letter from the NPR containing details of your name and address.

• Non-Individuals (Entity):

  • Identity Proof: Registration Certificate including Udyam Registration Certificate (URC) issued by the Government/Certificate/License issued by the municipal authorities under Shop and Establishment Act/Sales and Income Tax returns/CST/VAT/GST Certificate/Certificate/Registration document issued by Sales Tax/Service Tax/Professional Tax authorities/ IEC (Importer Exporter Code) issued to the proprietary concern by the office of the Directorate General of Foreign Trade (DGFT)/License/Certificate of practice issued in the name of the proprietary concern by any professional body incorporated under a statute/Complete Income Tax Returns (not just the acknowledgement) in the name of the Sole Proprietor where the firm's income is reflecting, duly authenticated/acknowledged by the Income Tax authorities/Utility bills such as electricity, water, landline telephone bills etc.

Note: For sole proprietorship concerns, any of the above-mentioned two documents are required.

• Address Proof: GST Certificate/Business Registration Certificate/Gumastaa License/Udhyam Registration Certificate/Bank statement (not to be considered for entity proof)/Utility Bill/ITR/Rent Agreement with utility bill within 2 months.

Note: If the registered address and permanent address of the entity are different – proof is required in both cases.

Apart from the above-mentioned document, additional documents will be required for the below entities:

• Partnership Firm: Partnership Deed

• Limited Liability Partnership: LLP Agreement and Certificate of Incorporation, List of designated partners and latest profit-sharing ratio certified by a Chartered Accountant (CA)/Company Secretary (CS)

• Public & Private Limited Co. (Even if there is only 1 director): Certificate of Incorporation, Memorandum of Association (MOA) and Articles of Association (AOA), CA/CS certified latest list of Directors and Shareholders with their names, date of birth, nationality and address

• Trust: Trust Deed with Registration Certificate, list of all beneficiaries, trustees, settlors, protectors and authors of the trust, containing their names and Date of Birth

• Society: By-laws/Memorandum of a Society with Registration Certificate, list of members with their names, address and Date of Birth

• HUF: List of Adult Coparceners (Joint Heirs) attested by the Karta (Head of the family)

• Authorised signatory along with KYC and Relationship Segment details in case of Private/Public Limited Companies/Limited Liability Partnerships/Partnership Firms/Trust/Society

• List of Directors and Senior Management details in case of Private/Public Limited Companies

• Legal Entity Identifier (LEI) Certificate of non-individual borrowers having a banking system exposure of ₹ 5 crore and above.

Beneficial owner details along with KYC documents as per below:

• In case of Company/Partnership Firms/Limited Liability Partnership, more than 10% of shares/capital/profit of the company 

• In case of Unincorporated Association or Body of Person/Individual, more than 15% of capital/profit of the company

• In case of author of the trust, the trustee, the beneficiaries with 10% and more interest in the trust.

Below is the list of documents required for a Mortgage Loan based on employment:

• Income Proof:

  • Salaried:

    • Latest Form 16

    • Latest one-month salary slip

    • Bank statements of the last 6 months.

  • Self-Employed

    • Last 6 months’ Bank statements of all operative accounts

    • Last 2 years CA Certified/Audited Income Tax Returns (ITR), computation of income, Profit and Loss Account Statement and Balance sheet

    • GST returns of the last 1 year.

Disclaimer This is an indicative list only. Additional documents may be required for a case-to-case basis.

A home loan is essentially a financing option where funds are provided to an individual or an entity for the purchase, construction, extension, or renovation of a residential or commercial property. Lenders provide funds upfront, and borrowers repay through monthly installments, usually over many years. It's crucial for prospective homeowners to understand the terms, interest rates, tenure, and eligibility criteria before applying.

Read Homebuyers Smartbook

There are multiple ways to apply for a Home Loan with ICICI Bank: using the iMobile app or Internet Banking, on our website or by visiting any ICICI Bank Branch. Steps to apply are given below:

1. iMobile App

Follow the steps given below to apply for a pre-approved Home Loan:

1. Download the iMobile app
2. Log into the app using the required credentials
3. Go to the ‘Transact’ tab and click on the ‘Pre-Approved Loans / Offers’ tile
4. Scroll and search for your Pre-Approved Home Loan offer
5. Customise your offer and fill in the information
6. Proceed to fee payment.

2. Internet Banking

Follow the steps given below to apply for a pre-approved Home Loan:

1. Log into your Internet Banking account using the required credentials
2. Go to the ‘Loans’ section and click on the ‘Pre-Approved Home Loan’ tile
3. After getting redirected, enter the required details and proceed ahead to pay the login fee.

3. ICICI Bank website

If you are a new customer, follow the steps below:

1. Visit the ICICI Bank Home Loan portal by clicking here
2. Enter the desired loan amount and tenure
3. Provide the required information like PAN, Date of Birth and Aadhaar number
4. Read and accept the disclaimer and verify using OTP to complete the KYC process
5. Select the loan option as per your financial requirement and proceed
6. Adjust the loan terms as per your financial standing
7. Provide additional details like income and property information
8. Pay the processing fee and submit.

The loan is sanctioned after verification is complete.

4. Branch Visit

Loan applications can also be done offline. Visit any ICICI Bank Branch to apply for a Home Loan in person. Fill out the application form with standard paperwork and submit the application for approval.

Eligibility for an ICICI Bank Home Loan is determined by multiple factors, including:

1. Age: 21 – 65 years for salaried individuals, 21 – 70 years for self-employed individuals.

2. Income: ₹ 25,000 per month as minimum salary, ₹ 30,000 per month as minimum income for a self-employed individual.

3. Employment Stability: A steady employment or a solid track record in business is required.

4. Credit Score: A credit score of at least 750 is ideal.