ICICI Home Loan Interest Rate Calculator - Dec 2016

ICICI Bank Home Loan Interest Rates

Last Updated 08th Dec 2016
7th Dec 2016 - RBI keeps interest rates unchanged. Repo rate stays at 6.25%. CRR at 4%. 100% CRR on fresh deposits withdrawn
Interest Rate 9.15% - 9.50%
Check Special Offers
Lowest EMI Rs. 815 per lakh
Max Tenure 30 years
Processing Fee Upto 1.00%
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans
Age Min 21 and Max 60 years for Salaried
Min 21 and Max 65 years for Self Employed
Apply Home Loan Online
 Salaried   Self Employed - Professional   Self Employed - Business 





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ICICI Bank Home Loan

ICICI Bank offers home loan to the people who want money to purchase a house, home renovation and home extension etc. The house itself acts as a security to the loan.

Home Loan ICICI

Home loan interest rates offered by ICICI Bank depends upon MCLR.
  • Fixed rates allow you to borrow loan at a fixed price which won’t change in the whole tenure in case of change in MCLR rate and should be chosen only if you believe that the rates will not hike in future.
  • Floating rates changes with a single change in MCLR rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates.
ICICI Bank offers home loan based on 1 Year MCLR rates which is currently 8.90%.
ICICI Bank home loan interest rate depends upon
  • Loan amount: Home loan rate in ICICI Bank depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate
  • Company where you work: ICICI Bank has a list of companies to which they lend Home loan. Interest rate will be less if your company is listed
  • Your Salary: Income helps you in identifying your rate of interest. ICICI Bank interest rate varies with your monthly income. Higher the income, less will the rate of interest

Home Loan Charges

  • Foreclosure Charges - These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. ICICI Bank allows prepayment of home loan with Nil prepayment charges
  • Processing Fee - ICICI Bank asks for a processing fee of 1.00% of loan amount with applicable service tax

ICICI Home Loan EMI Calculator

    Home Loan EMI of ICICI Bank is a fixed amount that you pay each month towards the repayment of your home loan till the end of tenure
  • Home Loan EMI calculator of ICICI Bank helps you to calculate your monthly EMI at different rate of interest and also check lowest EMI per lakh on home loan.
  • You can plan your loan amount according to your monthly repayment capacity because higher the loan amount, higher will be the EMI
  • Rate of interest is an important factor which affects your EMI. Higher the interest rate, higher will be the EMI
  • Loan tenure matters equally as higher tenure reduces your EMI
What are the benefits of calculating ICICI Bank Home Loan EMI?
  • EMI calculator of ICICI Bank helps you to calculate your monthly EMI at different rate of interest
  • ICICI Bank Housing Loan EMI calculator helps you to know your capacity to repay the loan after maintaining your standard of living
  • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly

ICICI Home Loan Eligibility Calculator

Home Loan eligibility criteria ICICI Bank
Eligibility of House loan in ICICI Bank relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are
  • Age: Age plays an important role to know your eligibility and repayment capacity. ICICI Bank offers Home loan to salaried at the age of 21 to 60 years and self employed individuals at 21 to 65 years
  • Income: In case of salaried person, ICICI Bank Loan eligibility significantly depends upon the income. Usually bank set minimum levels of income to apply for house loan. ICICI Bank asks for net monthly income of minimum 25,000. Salaried employee should be in government job or working with a reputed private company and getting regular salary in bank account with salary slip, form 16
  • Job stability and Profession: Job stability is important to improve your status and eligibility for Home loan from ICICI Bank. In case you are salaried, you must be in a full time job for at least 2 months. In case you are self-employed, you must be in current profession or business for at least 5 years and should preferably own either your office or your place of residence. Minimum turnover and minimum net income criteria may apply. Business must be registered with at least one government agency such as service tax, VAT, excise, shops and establishment registrar. Other than job stability, profession is also an important factor which can affect your ICICI Bank eligibility. If you are working with a reputed company, probability of getting home loan from ICICI Bank increases as the income is considered to be more stable
  • CIBIL Score: Your past CIBIL history and repayment record of existing loans and credit cards has direct impact on your Home loan eligibility. If you have a poor repayment record, then you may not get the loan but on the other side, a regular repayment record increases your Home loan eligibility
  • Loan Amount: ICICI Bank gives you Home loan depending upon your income. ICICI Bank gives you an amount ranging from Rs. 1,500,000 to Rs. 100,000,000. To improve chances of approval, apply for a loan amount that you can comfortably service
  • Estimated eligibility online by using Eligibility Calculator.
    Popular Products
    ICICI offers you different type of loans.

    Express Home Loan

    • This type of home loan is offered to salaried class people residing in India. A customer needs to apply online, upload the documents online and the bank will sanction the loan in 8 working hours without any meeting
    • Women borrower can get loan at 9.40% rate and others at 9.45%

    ICICI Bank Saral Rural Housing Loan

    • This loan is invented to empower the delicate sector of rural areas and women borrowers to fulfill their dream of having a home
    • Applicant can get a loan up to 90% of the property value and loan amount Rs. 5 Lakh to Rs. 15 Lakh for a loan tenure of 3-20 years

    ICICI Bank Extra Home Loan

    • Extra home loans gives you dual benefit by letting you boost your amount up to 20% and give you an option to expand your loan tenure up to an age of 67 years. A guarantee fee has to be provided for development in loan period
    • Currently, this service is available in Bengalure, National Capital Region, Greater Mumbai and Surat

    Pradhan Mantri Awas Yojna

    • Our honorable Prime Minister Narendra Modi launched a Credit Linked Subsidy Scheme under Pradhan Mantri Awas Yojna. The scheme belongs to the family who comes under Economically Weaker Section and Low Income Group
    • Families including husband, wife and unmarried children who don't have a pucca house
    • The loan is provided at 6.5% p.a. rate to first home buyers for tenure of 15 years

    Land Loan for Self Construction

    • You can apply for land loan for the purchase of a residential plot and can do construction on the plot. Construction should get complete with in 2 years of first disbursement
    • The land should be allotted under municipal limit or by Development Authority

    NRI Home Loan

    • ICICI bank offers home loan to Non Resident Indians for purchasing a house or property in India. Applicant age should be 25 years at the time of loan sanction and 60 years at loan maturity
    • The loan is provided for a maximum tenure of 20 years

    ICICI Bank Floating Rate Home Loans

    ICICI Home Loan Floating
    Upto Rs. 2,500,000 - 9.20%
    Rs. 2,500,001 - 7,500,000 - 9.20%
    Rs. 7,500,001 - 50,000,000 - 9.35%
    Above Rs. 50,000,000 - 9.50% linked to 1 Year MCLR
    special offer for female borrower
    Upto Rs. 2,500,000 - 9.15%
    Above Rs. 2,500,001 - 7,500,000 - 9.15%
    Above Rs. 7,500,001 - 50,000,000 - 9.30%
    Above Rs. 50,000,000 - 9.45% linked to 1 Year MCLR
    Express Home Loan
    Upto Rs. 3,000,000 - 9.25%
    Rs. 3,000,001 - 7,500,000 - 9.25%
    Rs. 7,500,001 - 15,000,000 - 9.25%
    Above Rs. 15,000,000 - 9.25% linked to 1 Year MCLR
    special offer for female borrower
    Upto Rs. 3,000,000 - 9.20%
    Above Rs. 3,000,001 - 7,500,000 - 9.20%
    Above Rs. 7,500,001 - 15,000,000 - 9.20%
    Above Rs. 15,000,000 - 9.20% linked to 1 Year MCLR
    Saral Rural Housing Loan
    Upto Rs. 500,000 - 9.20%
    Rs. 500,001 - 750,000 - 9.20%
    Rs. 750,001 - 1,000,000 - 9.20%
    Above Rs. 1,000,000 - 9.20% linked to 1 Year MCLR
    special offer for female borrower
    Upto Rs. 500,000 - 9.15%
    Above Rs. 500,001 - 750,000 - 9.15%
    Above Rs. 750,001 - 1,000,000 - 9.15%
    Above Rs. 1,000,000 - 9.15% linked to 1 Year MCLR

    ICICI Bank Fixed Rate Home Loans

    ICICI Home Loan Fixed
    Upto Rs. 3,000,000 - 9.20%
    Rs. 3,000,001 - 15,000,000 - 9.20%
    Rs. 15,000,001 - 50,000,000 - 9.35%
    Above Rs. 50,000,000 - 9.50% linked to 1 Year MCLR
    special offer for female borrower
    Upto Rs. 3,000,000 - 9.15%
    Above Rs. 3,000,001 - 15,000,000 - 9.15%
    Above Rs. 15,000,001 - 50,000,000 - 9.30%
    Above Rs. 50,000,000 - 9.45% linked to 1 Year MCLR

    ICICI Bank Home Loan Top up, Transfer

    Transfer of Home Loan from another bank to ICICI Bank?
    ICICI Bank offers home loan balance transfer from another bank. This is subject to your meeting other eligibility criteria of ICICI Bank
    You can avail additional top-up home loan from ICICI Bank, subject to your eligibility

    Housing Loan ICICI documents required

    Home Loan for Salaried employee ICICI Bank documents required

    • Filled up loan application form
    • 2 Passport Size Photo
    • ITR of last 2 years
    • Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit

    Home Loan for Self-Employed ICICI Bank documents required

    • Filled up loan application form
    • 2 Passport Size Photo
    • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
    • ITR of last 3 years
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile

    Frequently Asked Questions

    Why to take home loan from ICICI Bank?
    ICICI Bank offers home loan at lower rate of interest i.e. at 9.15% with the lowest EMI of Rs. 815 per lakh. If you are paying EMI more than this then you can opt for balance transfer and relocate your home loan to ICICI Bank.
    What is the maximum loan tenure I can opt under ICICI Bank house loan?
    ICICI Bank offers you a longer tenure of 30 years to repay your home loan with a benefit of paying less EMI per month.
    Do I get tax benefit on home loan from ICICI Bank?
    As per Indian Income Tax Act of 1961, residents of India are eligible for tax benefits on principal amount and interest components of a home loan under the section 24 and section 80C of Income Tax Act.
    Can I foreclosure my home loan? What are the charges applicable?
    Yes, you can foreclose your home loan with Nil charges.
    Can I transfer my home loan from another bank to ICICI Bank?
    Yes, ICICI Bank gives you the facility to transfer your existing home loan with a hassle free process. Home loan balance transfer to ICICI Bank offers you to pay lower EMIs and save money.
    Can I club the income of my spouse with mine and apply for joint home loan?
    You can club the income of your spouse to increase your loan eligibility if the spouse is co-owner of the property or guarantor of the loan.
    What is the benchmark applicable for home loan in ICICI Bank?
    The benchmark applicable for home loan in ICICI Bank is 1 Year MCLR.
    What is the effect of part payments on ICICI Bank housing loan EMI ?
    Part payments help you in reducing the outstanding amount of loan which in turn will reduce the interest amount due. After making part payments, paying the same EMI will increase your involvement towards the principal amount which will help you in repaying the loan faster.
    How to increase my eligibility on ICICI Bank housing loan?
    If your spouse or family member is earning well, you can make your spouse or family member the co-applicant for your loan. The combination of both of your income will help you in increasing your eligibility to get loan.
    How will interest rate on ICICI Bank housing loan change in future?
    • Floating interest rate on ICICI Bank housing loan is linked to its 1 Year MCLR Rate, which is currently at 8.90%. So, when ICICI Bank offers a home loan at 9.15%, it applies a premium of 0.25% to its MCLR Rate to arrive at this home loan interest rate.
    • When RBI increases interest rates, the bank may increase its MCLR rate and the applicable interest rate for all existing and new home loans would increase. When RBI cuts interest rates and the bank reduces the MCLR rate, the benefit of lower rates will have to be passed to both old borrowers and new house loan accounts.
    Can I convert my home loan rate from fixed rate to floating rate or vice-versa? What are the charges applicable?
    Yes, you can convert your home loan rates from fixed rate to floating rate and vice- versa. The charges applicable are as following:
    • On conversion of loan from fixed rate to floating rate, charges are 0.5% of the outstanding loan amount and applicable tax
    • On floating rate to fixed rate loan conversion, you will be charged 0.5% on the outstanding principal and applicable tax
    Am I eligible for top up on my existing home loan?
    ICICI bank allows you to top up your existing home loan at the time of balance transfer.

    ICICI Bank Home Loan in India

    ICICI Bank Home Loan Customer Care Number, Email, Application Status, Branches

    City Customer Care Number
    Agra 808-166-7777
    Ahmedabad 079-33667777/ 079-44455000
    Ambala 901-766-7777
    Anand 800-066-7777
    Aurangabad 902-166-7777
    Bangalore 080-33667777/ 080-44455000
    Bhilai 909-866-7777
    Bhilwara 787-766-7777
    Bhiwadi 787-766-7777
    Bhopal 0755-3366777
    Bhubaneswar Cuttack 0674-3366777
    Bikaner 787-766-7777
    Chandigarh 0172-3366777/ 0172-4445500
    Chennai 044-33667777/ 044-44455000
    Cochin 902-066-7777
    Coimbatore 0730-566-7777
    Dehradun 0135-3366777
    Delhi 011-33667777/ 011-44455000
    Durg 909-866-7777
    Faridabad 901-766-7777
    Gandhinagar 800-066-7777
    Ghaziabad 808-166-7777
    Goa 902-166-7777
    Greater Noida 808-166-7777
    Gurgaon 0124-3366777/ 0124- 4445500
    Guwahati 986-466-7777
    Gwalior 909-866-7777
    Hyderabad 040-33667777/ 040-44455000
    Indore 909-866-7777
    Jabalpur 909-866-7777
    Jaipur 0141-3366777/ 0141-4445500
    Jalandhar 730-766-7777
    Jodhpur 787-766-7777
    Kanpur 808-166-7777
    Karnal 901-766-7777
    Kolhapur 902-166-7777
    Kolkata 033-33667777/ 033-44455000
    Kota 787-766-7777
    Kozhikode 902-066-7777
    Lucknow 0161-3366777/ 0161-4445500
    Ludhiana 730-766-7777
    Madurai 0730-566-7777
    Meerut 808-166-7777
    Mehsana 800-066-7777
    Mohali Sas Nagar 730-766-7777
    Mumbai 022-33667777/ 022-44455000
    Mussoorie 808-166-7777
    Nagpur 902-166-7777
    Nashik 902-166-7777
    Noida 808-166-7777
    Noida Extn. 808-166-7777
    Panipat 901-766-7777
    Patna 0612-3366777
    Pondicherry 0730-566-7777
    Pune 902-166-7777
    Raipur 0771-3366777
    Rajkot 800-066-7777
    Ranchi 0651-3366777
    Rohtak 901-766-7777
    Roorkee 808-166-7777
    Salem 0730-566-7777
    Shimla 0177-3366777
    Sonepat 901-766-7777
    Surat 800-066-7777
    Trichy 0730-566-7777
    Udaipur 787-766-7777
    Vadodara 800-066-7777
    Varanasi 808-166-7777
    Vijaywada 730-666-7777
    Vizag 730-666-7777
ICICI Home Loan Interest Rate News - Dec 2016
04th Nov 16 ICICI home loan rate at 9.15 percent from 1st November, 2016
ICICI Bank has reduced its home loan rates by 0.15 percent to 9.15 percent for female borrowers and 9.20 percent for male borrowers. The revised rates are applicable for loan amount upto Rs. 75 lakh. The new rates will be effective from 1st November, 2016. With this, ICICI home loans are now available at same rate as HDFC and Axis Bank but 0.05 percent higher than SBI home loans.
03rd Nov 16 ICICI Bank launches home loan overdraft scheme for salaried employees
ICICI Bank announced launch of home loan overdraft scheme for salaried employees. The scheme will provide benefits of home loan and overdraft simultaneously. T he lender will now provide overdraft option to customers with home loan. The minimum amount available for loan will be Rs. 5 lakh and maximum will be Rs. 1 crore. Customers can avail 10 percent of the total loan as term loan and the balance 90 percent as overdraft.
05th Oct 16 ICICI Bank slashes the lending rates by 0.5 bps from 9.10 to 9.05 per cent
With the decision of RBI to lower the repo rate by 25 bps, second largest private sector lender ICICI bank also lowered the MCLR by 5 bps. Effective from 1st October, 2016, the one month MCLR will be 8.85 percent against 8.90 per cent, on the other hand the one year MCLR which is generally used to compute some of the products such as personal loans will be 9.05 percent as against 9.10 per cent.
02nd Jun 16 ICICI Bank cuts benchmark rate by 5 bps
ICICI Bank on Wednesday reduced its marginal cost lending rate (MCLR) by 5 bps to 9.15%, with immediate effect. With this reduction, ICICI Bank one year MCLR rate is now at par with that of SBI and HDFC Bank. This reduction in rates will impact home loan, personal loan and other loans rates too. The rate cut by ICICI Bank comes ahead of the monetary policy announcement by the RBI, slated for 7 June. Public sector lender State Bank of Bikaner and Jaipur too reduced its two year and three year MCLR by 5 bps each to 9.6% and 9.7%, respectively.
18th May 16 ICICI Bank inaugurates a new branch at Panipat
ICICI Bank Ltd inaugurated a new branch at HUDA, Panipat in Haryana. This is the fourth branch of the bank in city. The branch also houses a ATM at its premises. It will offer a comprehensive range of loans and deposits including saving, current and term deposits; auto, home and gold loans; NRI services along with lockers facility.
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