A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • loading

    ICICI Home Loan EMI Calculator

    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% (min. ₹11,500) One time fee
    5L - 10Crs
    3-30 Years
    Response Time Within 30 minutes
    Paperless Approval Option Available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    8.35% - 8.80% Floating
    0.5% (min. ₹11,500) One time fee
    5L - 10Crs
    3-30 Years
    Response Time Within 30 minutes
    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 2092 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.

    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.

     Loading your search... Loading your search...
  • ICICI Home Loan EMI Calculator Reviews

    • ICICI Bank Home Loan
      "Average Service"
      0.5 1.0/5 "Really Bad"
      Once I approached ICICI bank for a housing loan. When I was inquiring with them about the loan process, they quoted some high rate of interest. I was totally disappointed becasue they are not considering the customers account history and their promptness but blindly they are quoting the highest interest rate. So I stopped approaching ICICI for the loans. I recently taken the loan from SCB.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 25, 2017
    • ICICI Bank Home Loan
      "Need a slight improvement with the service"
      0.5 3.0/5 "Satisfactory"
      I was not briefed in detail about the loan process, out of my own interest I questioned them and later they gave clarification about the product. Till date I did not receive any loan sanction letter or any other document confirming my loan approval. However, ICICI process was very smooth quick and fast they hardly took 15 days of time for the loan disbursal, even their rates are low and it is line with the market rate. My only suggestion for them would be work on their service, as they need to be more customer centric.
      Was this review helpful? 0
      , chennai
      Reviewed on May 22, 2017
    • ICICI Bank Home Loan
      "Hassle Free Experience"
      0.5 5.0/5 "Blown Away!"
      I had done some research about the interest rate with other banks but I found ICICI rate as the best. I am happy with ICICI disbursement, I am going to construct an independent house, based on the property they have disbursed 60% of loan for plot, remaining 40% would be released for construction. To summarize, I am completely fine with ICICI process.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 19, 2017
    • ICICI Bank Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      ICICI have processed my home loan quickly. The process went in a smoother way. The verification and documentation process also went smooth. They took around 1 month to disburse my loan. The rate of interest is nominal. Overall the service is given in a polite and perfect way.
      Was this review helpful? 0
      , chennai
      Reviewed on May 18, 2017
    • ICICI Bank Home Loan
      "High on ROI"
      0.5 4.0/5 "Great!"
      ICICI Bank has been good in the services and the process for the home loan. I have no problem with the processing charges as it is common. But I later got to know that SBI was offering a lower rate of interest even though a customer does not have a savings account. Because though I have an account at ICICI bank I was offered a high rate of 8.65%.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 18, 2017
    • ICICI Bank Home Loan
      "Need to be customer centric in future"
      0.5 3.0/5 "Satisfactory"
      Actually Overall the process was very good with ICICI bank Home loan service. But there was delay in disbursement. They have made delay with their process and there sales manager and the executive didn't response to my mails or calls and their customer support didn't gave proper response with the home loan concern. The lack of communication happened between the customer and the executives also the sales manager. They took around 40 days to disburse my home loan. The rate of interest is little higher than the HDFC bank. They can decrease the interest rate in future.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 18, 2017
    • ICICI Bank Home Loan
      "Better Service"
      0.5 3.5/5 "Pretty good"
      Great job done by ICICI Bank on my housing loan . I had not gone through any kind of challenges with them. But I am not happy with the rate of interest, because SBI provides 8.5% of interest rate but ICICI quoted a high interest rate. I hold a savings account with them for more than ten years. Also they charged me some processing fee for the loan. At least they should consider corporates on the processing fee, it would be better if they waive off the charges for corp employees. In this competitive world, a lot of options are available for the people to go with, so ICICI should consider this while providing the loan to the people. Customer service is also equally good.
      Was this review helpful? 0
      , thane
      Reviewed on May 16, 2017
    • ICICI Bank Home Loan
      "Good deal on ROI"
      0.5 5.0/5 "Blown Away!"
      My first experience for my home loan was with ICICI Bankwas during the year 2008. At that moment I got a better deal. The rate of interest was initially of 11% and later reduced to 7%. It was better than the current one. The charges was also minimal and the process is also quick.
      Was this review helpful? 1
      , pune
      Reviewed on May 16, 2017
    • ICICI Bank Home Loan
      "High on the ROI"
      0.5 5.0/5 "Blown Away!"
      ICICI Bank was really good in services especially when it comes to home loan. The process was excellent as they completed it on time. The rate of interest has been reduced by 0.05% and I got a rate of 9.5%. Where as the other banks were offering 8.5%. The processing charges was as per the market standard.
      Was this review helpful? 0
      , pune
      Reviewed on May 16, 2017
    • ICICI Bank Home Loan
      "Bench Mark needs to acheive in customer service part"
      0.5 3.0/5 "Satisfactory"
      I felt ICICI customer support is not upto the mark, when I used to call them, they wont provide the information to me. They often ask me to visit to the bank. I took the loan amount of Rs.4.11 lakhs with tenure of 10 years, I have done the foreclosure recently.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on May 16, 2017
    • ICICI Bank Home Loan
      "Very Cooperative"
      0.5 5.0/5 "Blown Away!"
      ICICI bank was very prompt for my housing loan application. Actually when I applied for the same loan last time, I did not finalize the car, at that time the bank informed me to take my own time to finalize the car model and come back. So they are very cooperative. Interest rate is normal. They provided a very good service for my loan application.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 16, 2017
    • ICICI Bank Home Loan
      "The Best Bank"
      0.5 5.0/5 "Blown Away!"
      The person who contacted me from ICICI bank on my housing loan application helped me a lot every time whenever I required. I had received very good response and the rate of interest is really good. I personally negotiated with ICICI bank on interest rate and they agreed to provide as per my request.
      Was this review helpful? 0
      , greater noida
      Reviewed on May 15, 2017
    • ICICI Bank Home Loan
      "Average Service"
      0.5 3.5/5 "Pretty good"
      Partially I received a good response from ICICI bank for my housing loan. Because I had an issue with them. Actually the loan disbursement date is on 31st Mar'17 but the closing was on 15th Apr'17. I paid interest rate for these days 1-15 of Apr. This is the big issue with the bank and I am looking for the resolution. Still not received. Furthermore, the bank representative did not pick my calls sometime and he did not share the bank manager number as well. I got the manager contact number after 4-5 days only. Interest rate is something common in all the banks and nothing special about the rate of interest.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on May 15, 2017
    • ICICI Bank Home Loan
      "Excallent Services by ICICI"
      0.5 4.5/5 "Excellent!"
      Team ICICI is doing a great job to connect clients. Its proven "KHAYAAL AAP KA" PUNCH LINE.My earlier experience with ICICI bank was good for the home loan. The team is proactive in contacting me and getting my loan completed on time. The interest rate and processing charges was also at par with the market.
      Was this review helpful? 1
      , bangalore
      Reviewed on May 10, 2017
    • ICICI Bank Home Loan
      "Quick services"
      0.5 5.0/5 "Blown Away!"
      My earlier experience with ICICI bank was good for the home loan. This process was about five years back. They were proactive in contacting me and getting my loan completed on time. The interest rate and processing charges was also at par with the market.
      Was this review helpful? 0
      , kolkata
      Reviewed on May 10, 2017
    • ICICI Bank Home Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      I applied for a home loan with ICICI Bank as I had the options online. When I applied for the same it took me to a another channel for loans. After which I received no response from the bank and in the meanwhile I got the loan from another bank. Since it was the fag end of the financial year I was asked to get the disbursement done quickly. But ICICI Bank was not helpful to me.
      Was this review helpful? 0
      , kolkata
      Reviewed on May 10, 2017
    • ICICI Bank Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      ICICI bank is where I hold my savings account with and they had offer me a home loan. I got loan of 9.18 lacs with 10 years of tenure. Every month they had deduct my EMI amount of 9018 rs from my savings account. In 2012 I have preclosed the loan because the interest rate was increasing for that also they had not charged anything.I have opted this loan long back during the year 2005.
      Was this review helpful? 0
      , asansol
      Reviewed on May 07, 2017
    • ICICI Bank Home Loan
      "Process time has to be improved"
      0.5 3.0/5 "Satisfactory"
      I had taken home loan from ICICI before three years, they offered 9.1% it was very much competitive in the market. But their loan process was very slow that has to be improved. I took the loan amount of Rs.30 lakhs for the tenure of ten years and the rest was good.
      Was this review helpful? 0
      , chennai
      Reviewed on May 03, 2017
    • ICICI Bank Home Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have closed the home loan with the ICICI bank and the interest rate was good like it was around 8.25%. Loan disbursement to my account after two to three months of time, which was very long. Processing charges were fine and there were no issues.
      Was this review helpful? 1
      , mumbai
      Reviewed on Apr 27, 2017
    • ICICI Bank Home Loan
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      Overall experience with the ICICI bank was good for my home loan and the executive Mr. Satheesh from ICICI bank have helped me a lot. There was no hiccups with them for my approval of home loan. I would like to say that they are better in every aspects.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Apr 26, 2017
    Common Loader Icon
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.