A "low interest" loan shouldn't mean you have very little interest in paying it back!
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    We found 2 ICICI Home Loan EMI Calculator

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    8.40% - 8.85% Floating
    0.5% (max. ₹11,800) One time fee
    5L - 10Crs
    3-30 Years
    Response Time Within 30 minutes
    Rs.5,000 Amazon voucher free Paperless Approval Option Available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    8.35% - 8.80% Floating
    0.5% (max. ₹11,800) One time fee
    5L - 10Crs
    3-30 Years
    Response Time Within 30 minutes
    Rs.5,000 Amazon voucher free Paperless Approval Option Available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria

    ICICI Home Loan EMI Calculator is Rated as "Great!" by 2123 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Home Loan BYTES FROM OUR KITCHEN

    Overview:

    The role played by a home loan in realizing our housing dream is undisputed. Since paying off a housing loan is a long term commitment, we must carry out sufficient amount of homework to ensure we sign up for the right loan and choose the most appropriate terms. The most visible aspect of paying a home loan is the EMI (Equated Monthly Installment) component. Since it has the potential break into the monthly income and household budget, one must choose the right EMI value by altering key terms such as loan amount and tenure.

    Home Loan Offers

    Calculating the EMI amount manually can be tasking, specially with all those complex calculations which may not necessarily yield the desired results. In such situations, using an EMI calculator to arrive at numbers helps in this task.

    ICICI Bank Home Loans

    As a leading private sector banking institution in the country, ICICI offers housing loan for a variety of requirements such as purchasing a house/plot, construction and also balance transfer where you can transfer outstanding balance from other banks/HFCs to ICICI at low rates.

    ICICI also offers the Rewards Points program on housing loans which gives you rewards earning potential by paying the EMI by way of auto debit from ICICI bank savings account.

    ICICI Home Loan Calculator:

    Before throwing further light on how to use the Home Loan EMI Calculator, let’s get acquainted with some of the most common terms used in calculating the installment value so that it becomes easy to understand and obtain and the required output.

    Terminology

    1. EMI: An abbreviation for Equated Monthly Installment, it is a term used to denote the monthly payment amount payable by the borrower towards clearing the loan. The EMI value is uniform throughout the loan tenure chosen by the borrower and consists of the principal amount plus applicable interest charges billed at prevailing rates.

    2. Tenure: It is a pre-fixed term agreed between the lender and borrower in the loan contract during which the borrowed amount along with the applicable interest charges should be paid in monthly installments. The borrower is largely free to choose a tenure of their choice from the available options.

    3. Interest Rate: As the name suggests, it is the fixed or variable rate at which interest charges are billed by the lender on the outstanding loan amount every month to ascertain the EMI value. In housing loans, interest rates are of two types, fixed and floating depending on the loan offer.

    4. Amortization Schedule: It is like the loan statement issued in advance which contains in depth information about the loan such as outstanding balance before a specific EMI payment, installment amount, payment schedule and other numbers important to understand the loan repayment.

    5. Processing Fee: A fee charged by the borrower towards documentation and handling of paperwork relating to loan application. The fee is generally billed as a percentage of the approved loan amount.

    How to Calculate EMI for ICICI Bank Home Loan?

    BankBazaar hosts an all-inclusive calculator under the “Finance Tools” section under the main menu. This tool not only provides the required output in less than a second, but also offers graphs, pie charts and an amortization table to give a comprehensive view on the loan.

    Before using this calculator, keep handy, information such as the proposed loan amount and tenure, interest rate and processing fee (percentage), if any. Steps to use this tool as below.

    • Use slider 1 (Loan Amount) to freeze the proposed loan amount. Move the slider slowly to ensure the correct amount is chosen. The output is instantly displayed at the end of this slider.
    • The slider 2 (Tenure) is used to choose the proposed loan tenure. Move the slider slowly to select the tenure, to be displayed at the end of the scale.
    • In the following tab, key the interest rate in percentage. For example, if the quote given to you by the bank is 10.25%, provide the same here.
    • In the next tab, input the processing fee percentage as per the quote.
    • The last field deals with pre-payments. If you intend to make pre-payments during the loan tenure, say “Yes” and fill the required details. Otherwise, select “No”
    • Now, verify the correctness of numbers and click “Calculate”.

    What follows is a the EMI Amount followed by a pie chart that consists of overall costs involved in the loan along a bar graph and an amortization table consisting of breakup, year wise. Now that you’ve the required details, you can go ahead and choose/alter the term in the actual home loan application with ICICI. This calculator also does the needful if you’re looking at reassessing or paying off an existing loan with the bank.

    EMI per Lac for 30 Year Tenure at 9.45% Rate & 0.5% Processing Fee:

    Year Principal Paid(A) Interest Paid(B) Total Payment (A+B) Outstanding Loan Balance
    2016 356 5,504 5,860 99,644
    2017 658 9,388 10,046 98,986
    2018 723 9,324 10,047 98,262
    2019 793 9,252 10,045 97,468
    2020 873 9,173 10,046 96,595
    2021 959 9,087 10,046 95,636
    2022 1,054 8,992 10,046 94,582
    2023 1,158 8,889 10,047 93,424
    2024 1,272 8,774 10,046 92,152
    2025 1,399 8,649 10,048 90,754
    2026 1,533 8,514 10,047 89,219
    2027 1,688 8,359 10,047 87,532
    2028 1,853 8,192 10,045 85,678
    2029 2,036 8,010 10,046 83,641
    2030 2,239 7,810 10,049 81,404
    2031 2,459 7,588 10,047 78,945
    2032 2,701 7,346 10,047 76,244
    2033 2,967 7,079 10,046 73,276
    2034 3,260 6,787 10,047 70,015
    2035 3,583 6,464 10,047 66,433
    2036 3,937 6,111 10,048 62,497
    2037 4,325 5,722 10,047 58,172
    2038 4,751 5,295 10,046 53,420
    2039 5,222 4,826 10,048 48,200
    2040 5,736 4,311 10,047 42,464
    2041 6,303 3,742 10,045 36,162
    2042 6,925 3,123 10,048 29,238
    2043 7,606 2,440 10,046 21,630
    2044 8,359 1,688 10,047 13,272
    2045 9,182 863 10,045 4,089
    2046 4,089 97 4,186 0

    Frequently Asked Questions:

    1. How does part payments help the home loan in longer run?

      When you infuse the loan account with additional payments, it reduces the outstanding amount in the loan account, which in turn reduces the interest charges. It also helps in clearing the loan much quicker.

    2. I see that the interest charges in the amortization table is slightly higher during the initial months into the loan. Can you please explain?

      Since the interest rate is applied on the basis of “reducing balance principle”, the interest charges are slightly higher during the initial phase since the principal outstanding is higher. As this amount reduces, the incidence of interest also comes down proportionately.

    3. Is the result displayed accurate?

      There may be a slight difference due to the method of actual calculation by the bank and the inclusion of other charges and fees in the loan.

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  • ICICI Home Loan EMI Calculator Reviews

    • ICICI Bank Home Loan
      "Very Pathetic experience with ICICI HOME LOAN Department"
      0.5 0.5/5 "Unacceptable"
      I had a very Pathetic experience with ICICI HOME LOAN Department as their employees not aware of process to be followed for home loan. They did not consider House Government Proofs. They have their own list according to which all property documents should be arranged. No Responsible employee in Kaushambi Ghaziabad branch. ICICI should take care of this. Same property has been loaned from SBI bank and PNBHFL was also ready to provide loan on same property. Very Bad Service from Kaushambi Ghaziabad Team. Take care if you approach this branch.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Jul 19, 2017
    • ICICI Bank Home Loan
      "ICICI bank great service"
      0.5 3.0/5 "Satisfactory"
      I really appreciate ICICI bank for there service. There is not following normal bank hours and there are very flexible to customer timing. Instant loan approval is amazing idea through online and able to submit document through online is great
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 10, 2017
    • ICICI Bank Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      My home loan was from ICICI Bank and the services from them was excellent. It was a good experience and very much satisfactory. They offered me a decent interest rate 9.25% processing charges was also nominal. In all it was a nice and the after loan is also smooth.
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Jul 09, 2017
    • ICICI Bank Home Loan
      "AVERAGE"
      0.5 3.0/5 "Satisfactory"
      To begin with, I received a call from ICICI bank regarding my home loan application but the bank has asked me to submit ITR for the current financial year which I was not holding. Hence I got the dropped plan also the response was on time and I had applied for a loan amount of ten lakhs rupees.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jul 03, 2017
    • ICICI Bank Home Loan
      "Very Good service"
      0.5 4.0/5 "Great!"
      I got a home loan experience with ICICI bank. I got home loan since in 2004 and I have closed it in 2010. The rate of interest was nominal with ICICI bank. There was fore closure charges which was nominal with ICICI bank. The customer service and the response was good with ICICI bank.
      Was this review helpful? 0
      , madurai
      Reviewed on Jun 29, 2017
    • ICICI Bank Home Loan
      "Need Transparency in the process"
      0.5 3.0/5 "Satisfactory"
      I have got the ICICI bank home loan around 12 years ago. The executive has promised that they will offer the loan with flat interest rate but in documents I found it was a floating interest rate. ICICI need to stick on their promises. The rate of interest is nominal at present. ICICI can still increase the loan amount. I am satisfied with the ICICI bank service.
      Was this review helpful? 1
      , varanasi
      Reviewed on Jun 27, 2017
    • ICICI Bank Home Loan
      "Wonderful "
      0.5 4.0/5 "Great!"
      I got the home loan with the ICICI bank and the interest rate is around 8.35%, also the service aspects are good. I had chosen them because the ICICI bank have strong bond with the builder, so the builder recommends me to deal with the ICICI bank. Response was fine with the ICICI bank and they have delayed the disbursement up to the month of November.
      Was this review helpful? 0
      , nagpur
      Reviewed on Jun 22, 2017
    • ICICI Bank Home Loan
      "Recommendable Bank"
      0.5 5.0/5 "Blown Away!"
      During the year of 2014, I availed housing loan from ICICI bank. Interest rate is 10.30% now they had reduced it to 9.35%. They disbursed the loan according to my convenience. ICICI is a recommendable bank for the housing loan because they used to send executive and on behalf of the customer they will complete all the formalities. Really they are helpful but the drawback is the interest rate will be 1% higher than the government sector banks.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 20, 2017
    • ICICI Bank Home Loan
      "Good bank has flexible loan process"
      0.5 5.0/5 "Blown Away!"
      ICICI loan process is very much flexible. I felt ICICI is much better than HDFC Ltd. I could check the loan transaction through netbanking, Interest rate is also quite normal, and it is quite similar to other banks. I had taken the loan amount of Rs.32 lakhs this is for a tenure of 20 years. I am completely fine with the loan process.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 20, 2017
    • ICICI Bank Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      Rate of interest is around 11.49 % for the home loan with ICICI bank . I am having this loan from the last eight years of time tenur. Customer service is also a good one with them and the processing charges were very normal with them and its a balance transfer loan from DHCL and that was also smooth process and the EMI is 20k.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 18, 2017
    • ICICI Bank Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I am happy with ICICI bank in terms of the housing loan. Recently I had taken this loan from ICICI bank. The loan process was good and there was no issues with the bank during the loan process. The rate of interest was 8.65% which is nominal and all things went good and the tenured is for 25 years and EMI is around 42k loan got disbursed with in 20 days of time.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 18, 2017
    • ICICI Bank Home Loan
      "Its Good"
      0.5 4.0/5 "Great!"
      I am an existing customer of ICICI, I got the home loan interest rate around 9.75% it is bit high compared to other competitor. The processing fee was also high they have taken more than Rs.7000 from the disbursement, but loan process was good.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 16, 2017
    • ICICI Bank Home Loan
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      ICICI Bank was excellent in the home loan process. They were very flexible and helpful to me. I got the loan on time also all the documents were also collected on time as they have committed and I also got a good deal on the interest rate and processing charges too.
      Was this review helpful? 2
      , pune
      Reviewed on Jun 16, 2017
    • ICICI Bank Home Loan
      "Average"
      0.5 2.0/5 "Expected more"
      I had been using ICICI Bank services for the home loan and I do not find the portal very convenient for this product. I need to visit the bank for every small thing. If I need a statement, I need to walk up to the branch. The only reason I did not switch over to another bank was because of the huge process. But if this inconvenient service continues I would surely think of moving ahead.
      Was this review helpful? 0
      , delhi
      Reviewed on Jun 15, 2017
    • ICICI Bank Home Loan
      "Its Good"
      0.5 3.0/5 "Satisfactory"
      Whenever rate of interest is reducing ICICI wont give that benefit, still now they didn't give any information related to the reversed interest rate. ICICI should give transparent information to the customer. But loan process was good they have sanctioned 75% of loan on the property value, my disbursement done quickly.
      Was this review helpful? 0
      , faridabad
      Reviewed on Jun 14, 2017
    • ICICI Bank Home Loan
      "Response part should be faster"
      0.5 3.0/5 "Satisfactory"
      I applied for the home loan same time with a different institute . ICICI delayed a lot, meanwhile I got a response from Can fin home limited, they had done fast process when it comes to home loan. But ICICI interest rate is good, they offered me 8.65% of interest but Can fin house limited provided around 8.95% as the interest.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Jun 14, 2017
    • ICICI Bank Home Loan
      "Supportive Service"
      0.5 4.0/5 "Great!"
      I am happy with ICICI bank in terms of the housing loan. Recently I had taken this loan from ICICI bank. The loan process was good and there was no issues with the bank during the loan process. The rate of interest was 8.65% which is nominal and all things went good.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 13, 2017
    • ICICI Bank Home Loan
      "Need improvement in customer service"
      0.5 2.0/5 "Expected more"
      The ICICI executives didn't gave any kind of response in concern to my home loan application. They gave a call and told that they need to check my eligibility, but after that I didn't got any response from ICICI bank. I would like to suggest the ICICI to give proper response to the customers, because I am waiting for the product status for last 1 month. The rate of interest is nominal with ICICI bank.
      Was this review helpful? 1
      , chennai
      Reviewed on Jun 13, 2017
    • ICICI Bank Home Loan
      "Below average service"
      0.5 1.0/5 "Really Bad"
      ICICI bank doesn't had any kind of communication in concern to my home loan application. There was no call back made by ICICI executive . ICICI haven't even gave a call to explain the product. ICICI was not at all coordinating in regards to my home loan application. The rate of interest is nominal with ICICI bank. I would say it was below average service.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 13, 2017
    • ICICI Bank Home Loan
      "Good Service"
      0.5 4.5/5 "Excellent!"
      ICICI offered 8.4% of interest rate for the housing loan. I approached ICICI bank through agency, so they had done with the work instead of me. I received all the services through the agent. Documentation part been over and everything has been submitted to the builder. 80% of the work is over. Things are going good for the home loan. Because of the agency I have done this much of the work so I will give the best rating only for them.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jun 13, 2017
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