Calculate your monthly EMI
*
*
*
.*For representation purpose only. Final values may vary subject to bank’s policy.
Calculate your monthly EMI
*The EMI displayed is indicative and may vary during actual loan processing.
₹
₹
*The EMI displayed is indicative and may vary during actual loan processing.
- ₹5L
- 50L
- 1CR
- 1.5CR
- 2CR
- 2.5CR
- ₹3Cr
- 1
- 21
- 12
- 360
- 1%
- 21%
- 12
- 360
Monthly EMI
You Save ₹10,201/month
Total Amount Paid
- ₹0
- 10L
- 20L
- 30L
- 40L
- 50L
- 60L
- 70L
- 80L
- 90L
- ₹1Cr
- ₹10k
- 10L
- 20L
- 30L
- 40L
- 50L
- 60L
- 70L
- 80L
- 90L
- ₹1Cr
- ₹0
- 10L
- 20L
- 30L
- 40L
- 50L
- 60L
- 70L
- 80L
- 90L
- ₹1Cr
- 0%
- 15%
- 1
- 30
₹65,43,590
₹50,43,590
₹60,000
₹40,000
*Subject to CIBIL Score and Loan Amount
Home Loan Eligibility
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.
Criterion |
Details |
---|---|
Profession |
Both salaried and self-employed individuals are eligible for a Home Loan |
Income |
|
Age |
21 years - 70 years |
Loan Tenure |
Up to 30 years |
Loan Amount |
No upper cap, loan amount sanctioned depends on your eligibility. You can apply for a Home Loan of up to ₹ 5 crore while applying online |
Nationality |
Indian citizen |
Home Loan Interest Rates & Charges
Explore Home Loan Interest Rates and Charges with the table given, outlining the costs and rates involved in securing your home financing.
Home Loan Interest Rate (Pre-approved Customers)
Pre-approved customers at ICICI Bank stand to benefit from preferential Home Loan rates, which are lower than standard rates. These rates are tailored to reward loyalty and financial stability *T&Cs. Subject to bureau score. Applicable to customers with pre-approved Home Loan offer only.
Current Home Loan Interest Rate |
8.75%* p.a. |
Special Home Loan Interest Rates
Special Home Loan interest rates, often lower than standard, are offered for a limited time or to eligible customers, serving as incentives or promotional offers. Below are the special Housing Loan interest rates:
CIBIL |
Salaried |
Self-Employed |
---|---|---|
>800 |
9.00% |
9.00% |
750-800 |
9.00% |
9.10% |
Standard Home Loan Interest Rates
Standard Home Loan interest rates apply uniformly to all applicants, determined by market conditions and creditworthiness. Below are the standard Housing Loan interest rates:
Loan Slab |
Salaried |
Self-Employed |
---|---|---|
Up to ₹ 35 lakhs |
9.25% - 9.65% |
9.40% - 9.80% |
₹ 35 lakhs to ₹ 75 lakhs |
9.50% - 9.80% |
9.65% - 9.95% |
Above ₹ 75 lakhs |
9.60% - 9.90% |
9.75% -10.05% |
Home Loan Fees & Charges |
||
Processing Fees |
0.50% of the loan amount plus applicable taxes |
|
Prepayment Charges |
The above rates are linked to Repo Rate:
* Current Repo rate 6.50%.
* Valid till 31st Dec, 2024
Documents required to apply for a Home Loan?
Below is the list of documents required for a Mortgage Loan:
Identity Proof/Address Proof: 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.
Income Proof: Salaried
Latest Form 16
Latest one-month salary slip
Bank statements of the last 6 months.
Income Proof: Self-Employed Individuals
Last 6 months Bank statement 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 return of the last 1 year.
Disclaimer: This is an indicative list only. Additional documents may be asked for a case-to-case basis.
ICICI Bank Home Loan Features & Benefits
Maximising Your Home Loan Approval: Dos and Don'ts
Dos | Don'ts |
---|---|
Investigate loan and property details thoroughly. |
Avoid applying for a Home Loan on multiple aggregator sites to maintain approval chances. |
Plan for unexpected expenses wisely. |
Refrain from carrying excessive loans to maintain a favourable creditworthiness. |
Keep all necessary paperwork organised. |
Avoid overspending on Credit Cards or delaying loan repayments to prevent a negative impact on your credit score. |
Improve your credit before applying for a Home Loan. |
Don't commit to a Home Loan beyond your means to ensure manageable repayments. |
Home Loan FAQs
What is a home loan?
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.
How do I apply for a home loan?
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:
- Download the iMobile app
- Log into the app using the required credentials
- Go to the ‘Transact’ tab and click on the ‘Pre-Approved Loans / Offers’ tile
- Scroll and search for your Pre-Approved Home Loan offer
- Customise your offer and fill in the information
- Proceed to fee payment.
2. Internet Banking
Follow the steps given below to apply for a pre-approved Home Loan:
- Log into your Internet Banking account using the required credentials
- Go to the ‘Loans’ section and click on the ‘Pre-Approved Home Loan’ tile
- 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:
- Visit the ICICI Bank Home Loan portal by clicking here
- Enter the desired loan amount and tenure
- Provide the required information like PAN, Date of Birth and Aadhaar number
- Read and accept the disclaimer and verify using OTP to complete the KYC process
- Select the loan option as per your financial requirement and proceed
- Adjust the loan terms as per your financial standing
- Provide additional details like income and property information
- 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.
What are the parameters considered for deciding Housing Loan eligibility?
Eligibility for an ICICI Bank Home Loan is determined by multiple factors, including:
Age: 21 – 65 years for salaried individuals, 21 – 70 years for self-employed individuals.
Income: ₹ 25,000 per month as minimum salary, ₹ 30,000 per month as minimum income for a self-employed individual.
Employment Stability: A steady employment or a solid track record in business is required.
Credit Score: A credit score of at least 750 is ideal.
Housing Loan Value Added Services
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Home Loan Related Videos
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Your dream home is just a few clicks away!
With Home Loans from ICICI Bank.