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ICICI Home Loan

Last Updated 16th Jun 2017

ICICI Housing Loans

Rate of Interest 8.35% - 8.85%
Maximum Loan Tenure From 5 years to 30 years
Loan Amount Between Rs. 1,500,000 to Rs. 100,000,000
Lowest EMI per lakh Rs. 758 per lakh
Age Between 21 years to 60 years
Processing Fee 1.00%
Apply Home Loan @ 8.35%*
Rs.
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ICICI Home Loan Details

ICICI Bank home loan is dependent on various factors and varies from person to person. These factors are -

Loan Tenure - ICICI Home loans are of shorter tenure ranges from 5 years to 30 years and carry lower rate of interest compared to shorter term loans.

Repayment Capacity - Before giving home loan to the borrower, ICICI Bank checks the repayment capacity of the borrower. Bank verifies the repayment capacity of the customer through CIBIL as it has all the details of previous loans taken and their repayments. CIBIL also gives the information of credit card bills payment.

Relationship with the bank/NBFCs - ICICI offers special rates, offers and charges to the existing account holders of the bank. Those who have managed their accounts and made all the payments on time in past will get benefit from the bank.

ICICI Home Loan Document List

Documents Salaried Self Employed
Signed Application Form Yes Yes
Passport Size Photo Yes Yes
Copy of Income Tax PAN Yes Yes
Identity Proof Passport/ Driving License/ Voter ID/ PAN Passport/ Driving License/ Voter ID/ PAN
Income Proof Latest pay slip, Form 16, 3 months bank statement showing salary credit and any EMI debit 6 months bank statement, ITR of last 2 years
Address Proof Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
Business Proof VAT/ service tax registration, incorporation details in case of companies, partnership deed, business address proof

ICICI Home Loan Apply

ICICI Bank gives the facility of home loan to the people who want money to meet their urgent requirements. There are some features and benefits of taking house loan from ICICI Bank:

ICICI Home Loan Calculator

Interest Rate Calculator - This helps you in identifying the interest rate charged on applied loan amount for effective tenure.

Interest rate on ICICI Home loan depends upon

Loan Amount - Higher the loan amount, lesser will be the interest rate

Benchmark Rate - Home loan floating of ICICI depends upon 1 Year MCLR which is currently 8.20%.

Eligibility Calculator - This calculator calculates your House loan eligibility depending upon your monthly income, loan tenure, interest rate and existing obligations (if any). Apply for only that much loan amount, what you are eligible for. This calculator calculates eligibility based on salary. You can also calculate your home loan eligibility online and based on that apply for loan. Eligibility depends on:

  • NTH – Higher monthly income increases your eligibility to get ICICI Housing loan. ICICI requires a minimum income of at least Rs. 25000 to avail you loan
  • Loan Tenure – You can get home loan for maximum tenure of 30 years depending upon your current age
  • Obligations – Your existing obligations can reduce your chances of getting Home loan from ICICI. So, complete your existing obligations first and then apply for loan
  • There are various methods of calculating eligibility

  • Multiplier method – This method calculates your loan amount based on your income and company profile
  • FOIR (Fixed Obligation Income Ratio) – Your loan amount eligibility is calculated on the basis of your maximum EMI or monthly installments in respect to your income

EMI Calculator - Home Loan EMI calculator helps you in calculating your monthly EMI based on the loan amount, interest rate and tenure you have applied for.

Loan amount - You should apply for only eligible loan amount from ICICI ranges from Rs. 1,500,000 to Rs. 100,000,000. EMI will be high based on your loan amount.

Loan Tenure - High tenure of home loan leads to low amount of EMI.

Interest Rate - ICICI home loan EMI will be low if your rate of interest is less.

FAQs on Home Loan from ICICI Bank

How ICICI Bank does calculate NTH for Home loan?

NTH in ICICI Bank is calculated as the average of last 2 to 3 months net income as per your salary slip and same replicating in statement.

Can I prepay my Home loan in ICICI Bank?

Yes, you can prepay your House loan in ICICI Bank with Nil charges.

How much fee is charged by ICICI Bank for Home loan?

Processing fee charged on ICICI Bank Home loan is 1.00% with applicable service tax.

Is ICICI BT a better option?

ICICI offers minimum rate of 8.35% with lowest EMI of Rs. 758 per lakh. If you are paying higher EMI than ICICI, then balance transfer is the right option.

Can I check my loan account statement online?

You can login into your ICICI Bank online net banking account to get your loan details, track your loan history and make the payment online.

Is buying home loan insurance mandatory?

No, with home loan, home loan protection plans are not mandatory by law, or IRDA or RBI. However, different banks have different policy to safeguard their interest. Hence some banks insist on taking an insurance plan along with loan.

Easy comparison of ICICI home loan with other banks

ICICI Bank 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
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