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    We found 2 ICICI Home Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    8.50% - 8.85% Floating
    0.25% (max. ₹11,800) One time fee
    5L - 10Crs
    3-30 Years
    Response Time : Within 30 minutes
    Rs.5,000 Amazon Voucher 100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    8.45% - 8.80% Floating
    0.25% (max. ₹11,800) One time fee
    5L - 10Crs
    3-30 Years
    Response Time : Within 30 minutes
    Rs.5,000 Amazon Voucher 100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    ICICI Home Loan is Rated as "Great!" by 2429 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Home Loan BYTES FROM OUR KITCHEN

    ICICI Home Loan

    ICICI bank is a nationalised bank that has its robust network spread throughout the country. Its network makes it easier for customers to educate themselves about the quality products that the bank has to offer. One of the most renowned products of theirs is their home loan products. Equipped with competitive rates of interest and processing fee, a ICICI home loan is preferred by several loan customers all across the nation.

    ICICI Bank Home Loan Interest RatesUpdated on 22 May 2018

    ICICI Bank Home Loan Details
    Interest Rate 8.50% to 8.85% for General Borrowers 8.45% to 8.80% for Women Borrowers
    Processing Fees 0.25% of the loan amount (Maximum Rs. 11,800)
    Loan Tenure 3 year to 30 years
    Partial pre-payment Charges Nil
    Pre-closure Charges Nil
    Guarantor Requirement No Guarantor Required

     

    ICICI Bank Home Loan

    The practical aspects of buying, constructing or renovating a house involves immense responsibility, impeccable research and thorough planning. For most of us, getting the right home loan scheme (which perfectly suits our needs) and repaying it with an interest can be a mammoth task, or maybe quite impossible. Though some people settle for a mortgage, it may not be the wisest option. In this scenario, the best thing to opt for is a comprehensive home loan plan. Most leading banks extend financial assistance to customers in the form of home loans, with the purpose of helping them to buy a house.ICICI Bank is one on of India’s largest private sector banks.

    Some of the Best Features Provided By ICICI Bank Home Loan are as follows:

    • It is a really a very quick and easy process to get a home loan from ICICI Bank.
    • With a higher eligibility, the bank also offers lower EMIs at affordable and attractive rates of interest.
    • Keeping up evolving technology, ICICI bank has introduced a new system by which you can go through the application process Tablet and Smart phone. This ensures faster processing and quick disbursal of the loan.
    • You can avail home loan from ICICI to buy your dream house (of your choice), or from ICICI bank’s approved projects.
    • They also offers pre-approved home loans to selected customers, and existing customers get to enjoy reduced documentation process.

    Features and Benefits of ICICI Bank Housing Loan

    ICICI Housing Loan
    • Affordable interest rates and both floating and fixed options
    • The home loan can be sanctioned before selecting the property
    • A really smooth simplified documentation process and even faster documentation process for existing customers
    • You get the freedom of enjoying a longer tenure with lower EMIs
    • The ‘Balance Transfer’ feature allows you to transfer your existing home loan availed from any other bank, to ICICI Bank. This is for you to enjoy long term savings.
    • With the Balance Transfer feature, you can enjoy up to additional top up loan amount. This can be up to 100% of the original home loan.
    • The bank’s home loan page provides unique online tools like Eligibility calculator and EMI calculator. With the eligibility calculator you can find the home loan amount you are eligible to avail for, and the EMI calculator calculates the monthly repayment amount towards the loan.
    • Selected customers can enjoy pre-approved home loans.
    • Up to 30 years of loan tenure available
    • Enjoy a fixed interest rate for the first 10 years, and thereafter a choice of fixed or floating interest rates.

    ICICI Home Loan Eligibility Criteria:

    • Applicants must be at least 21 years old when the loan is sanctioned.
    • The entire loan must be repaid at or before the age of 65 years.
    • Applicant must be self-employed or salaried with a regular income source.
    • The co-applicant’s age must be at least 18 years.
    Apply for Home Loan Online

    ICICI Bank Home Loan Interest Rates

    Before we get into the absolute numbers, it is essential to know how the interest rates are actually calculated. Like other home loans available from other banks in India, ICICI Bank home loans also offer an MLCR based interest rate calculation. It is essential to understand that the ICICI Bank floating rate home loan is benchmarked to I-MCLR-1Y. Effective Aug 01, 2016 I-MCLR-1Y is 9.10%. But the interest rates are calculated differently for different groups based on demographics which include:

    ICICI Home Loan Interest Rates for Women:

    Floating Rate of Interest
    Category Effective Interest Rate Rate
    30 Lakhs to Rs.75 Lakhs 8.65% I-MCLR-1Y+0.45%
    Rs.75 Lakhs – Rs.5 Crores 8.70% I-MCLR-1Y+0.50%
    Above Rs.5 Crores 8.80% I-MCLR-1Y +0.60%
    Fixed Interest Rate for tenure of 5 years and 10 years
    Up to 30 Lakhs 8.70% I-MCLR-1Y+0.50%
    Rs.30 Lakhs – Rs.5 Crores 8.80% I-MCLR-1Y +0.60%
    Above Rs.5 Crores 8.90% I-MCLR-1Y +0.70%
    Fixed Interest Rate (Full tenure)
    Up to 30 Lakhs 8.70%
    Rs.30 Lakhs – Rs.5 Crores 8.80%
    Above Rs.5 Crores 8.90%

    Note :

    • I-MCLR-1Y is 8.20% : Above mentioned floating rates are linked to One year MCLR (I-MCLR-1Y) benchmark rate.
    • The above interest rates are valid only for home loans where the woman borrower is the main applicant. She also has to be the owner or co-owner of the property for which the loan is being borrowed.

    ICICI Home Loan Interest Rates for Salaried Borrower:

    Floating Rate of Interest
    Category Effective Interest Rate Rate
    30 Lakhs to Rs.75 Lakhs 8.70% I-MCLR-1Y+0.50%
    Rs.75 Lakhs – Rs.5 Crores 8.75% I-MCLR-1Y+0.55%
    Above Rs.5 Crores 8.85% I-MCLR-1Y +0.65%
    Fixed Interest Rate for tenure of 2 years and 3 years
    Category Fixed Interest Rate for 24 months or 36 months Floating Rate pricing from the 25th month or the 37th month
    30 Lakhs to Rs.75 Lakhs 8.70% I-MCLR-1Y+0.50%
    Rs.75 Lakhs – Rs.5 Crores 8.75% I-MCLR-1Y+0.55%
    Above Rs.5 Crores 8.85% I-MCLR-1Y +0.65%
    Fixed Interest Rate for tenure of 5 years and 10 years
    Category Fixed Interest Rate for 60 months or 120 months Floating Rate pricing from the 61st month or the 121st month
    Up to 30 Lakhs 8.75% I-MCLR-1Y+0.50%
    Above 30 Lakhs 8.85% to 8.95% I-MCLR-1Y+(0.65% to 0.75%)
    Fixed Interest Rate (Full tenure)
    Category Effective Interest Rate
    Up to 30 Lakhs 9.75%
    Above 30 Lakhs 9.85% to 10.10%

    ICICI Home Loan Interest Rates for Self Employed Borrower:

    Floating Rate of Interest
    Category Effective Interest Rate Rate
    30 Lakhs to Rs.75 Lakhs 8.70% I-MCLR-1Y+0.50%
    Above Rs.75 Lakhs 8.75% to 8.85% I-MCLR-1Y + (0.50% to 0.65%)
    Fixed Interest Rate for tenure of 2 years and 3 years
    Category Fixed Interest Rate for 24 months or 36 months Floating Rate pricing from the 25th month or the 37th month
    30 Lakhs to Rs.75 Lakhs 8.70% I-MCLR-1Y+0.50%
    Above Rs.75 Lakhs 8.75% to 8.85% I-MCLR-1Y + (0.50% to 0.65%)
    Fixed Interest Rate for tenure of 5 years and 10 years
    Category Fixed Interest Rate for 60 months or 120 months Floating Rate pricing from the 61st month or the 121st month
    Up to 30 Lakhs 8.75% I-MCLR-1Y+0.55%
    Above 30 Lakhs 8.85% to 8.95% I-MCLR-1Y+(0.65% to 0.75%)
    Fixed Interest Rate (Full tenure)
    Category Effective Interest Rate
    Up to 30 Lakhs 9.75%
    Above 30 Lakhs 9.85% to 10.10%

    Special pricing for Home Loans up to 30 lakhs

    Floating Interest Rate

    Category (8.15%) I-MCLR-6M (8.20%) I-MCLR-1Y
    Salaried Borrower Loan Amount up to 30 Lakhs
    Women (8.35%) I-MCLR-6M + 0.20% (8.35%) I-MCLR-1Y + 0.15%
    Others (8.40%) I-MCLR-6M + 0.25% (8.40%) I-MCLR-1Y + 0.20%
    Self Employed Borrower Loan Amount up to 30 Lakhs
    Women (8.50%) I-MCLR-6M + 0.35% (8.50%) I-MCLR-1Y + 0.30%
    Others (8.55%) I-MCLR-6M + 0.40% (8.55%) I-MCLR-1Y+ 0.35%

    Fixed rate for 24 months or 36 months - (8.20%) I-MCLR-1Y

    Category Fixed rate for 24 or 36 months Floating rate pricing from 3rd & 4th year onwards
    Salaried Borrower Loan Amount up to 30 Lakhs
    Women 8.35% I-MCLR-1Y + 0.15%
    Others 8.40% I-MCLR-1Y + 0.20%
    Self Employed Borrower Loan Amount up to 30 Lakhs
    Women 8.50% I-MCLR-1Y + 0.30%
    Others 8.55% I-MCLR-1Y + 0.35%

    ICICI Bank Home Loan EMI Calculator

    ICICI Bank offers unique and dynamic tools like EMI calculator and Eligibility calculator to help customers with choosing the right home loan. With the use of the eligibility calculator you can find the home loan amount you are eligible to avail for, by entering certain basic details/parameters, and the EMI calculator calculates the monthly repayment amount you need to make towards the loan. For this you need to enter basic details like the loan tenure and loan amount. Make use of these tools to get the best deal.

    Pradhan Mantri Awas Yojana By ICICI Bank

    The CLSS or Credit Linked Subsidy Scheme has been announced by the Prime Minister of India, Narendra Modi under the Pradhan Mantri Awas Yojana. According to the CLSS under PMAY, everyone will have a house by 2022.

    Under the housing for all by 2022 scheme, interest subsidy can be availed by the customers belonging to MIG (Middle Income Group), LIG (Lower Income Group) and EWS (Economically Weaker Section) for improvement, extension, construction and purchase of houses.

    Features of PMAY Schemes:

    • In case of MIG categories, the beneficiary family’s Aadhaar numbers are mandatory.
    • The interest subsidy benefit can be availed on the outstanding principal.
    • The subsidy can be availed for maximum tenure of 20 years or the tenure availed by the customer, whichever is lower.
    • No cap is there on the property’s cost or the amount of loan.
    • The NPV or Net Present Value of the subsidy is calculated at a discounted rate of 9%.
    • Any additional loan above the specified cap, will come with a non-subsidized rate.

    Eligibility for Applying PMAY Scheme:

    • In order to be eligible for this scheme, the beneficiary family must not have received any central assistance under Housing of all by 2022.

    Beneficiaries Under the PMAY Scheme:

    • This particular scheme is offered to the families comprising of wife, husband and unmarried kids. Any adult member earning for himself/herself, irrespective of his/her marital status, will be treated as separate household under the Middle Income Group category.
    • The beneficiary family should not have a pucca house in any part of India. Even the family members cannot own a pucca house anywhere in India.

    Interest Rate:

    The NPV or Net Present Value of the subsidy is calculated at a discounted rate of 9%.

    ICICI Home Loan Balance Transfer

    ICICI bank gives the privilege of lowering the EMI burden to its customers, and allows them to make savings by transferring their current home loan scheme from any other Bank to ICICI bank. The balance transfer feature is very innovative and a very thoughtful gesture on the bank’s part.

    FAQs On ICICI Home loan

    1. I have opted for the floating interest rate option on my ICICI bank home loan. If there is a change in the rate, will it affect me? If so, then how?

      This depends on what your home loan is linked to. If your loan is linked to FRR and PLR your rate of interest will reduce by 0.05%. This will happen due to the change in the FRR/PLR on June 26, 2015. Please note that this change will also correspondingly have an impact upon your EMI or loan tenor.

    2. I am a home loan customer with an Initial /Renewable fixed rate of interest. What happens when the fixed rate tenure expires?

      As per the fixed rate home loan, the loan is fixed for a stipulated period of time. The same would have been intimidated to you in the loan sanction letter. After the fixed rate period is over, your interest category of the loan would convert to floating rate. The applicable floating rate is decided based on a certain factor. This is the benchmark rate which is prevailing during the completion of fixed rate period.

    3. Do I have the freedom to choose the category of interest rate (fixed or floating) on my ICICI bank home loan?

      With ICICI bank home loans, borrowers can enjoy fixed interest rate for the first 10 years, and thereafter avail a choice of fixed or floating interest rates. The rate of interest varies according to certain factors like the loan amount, category of borrower, period of the loan and fixed or floating rate of interest.

    4. Is there any special concession on the home loan interest rates offered by ICICI bank, for women borrowers?

      Yes, for women borrowers the starting rate of interest from home loan is from 8.35% to 8.80%. The woman borrower needs to be the main applicant of the loan, or a co-owner in the financed property to avail the following rates of interest-

      • The floating rate of interest ranges from 8.65% to 8.80%.
      • The fixed rate of interest (for 5 years, 10 years) ranges from 8.70% to 8.90%
      • The full tenor fixed interest rate ranges from 9.70% to 10.05%
    5. If I want to close my home loan, are there any charges on prepaying the loan?

      If the home loan is availed on floating rate of interest, then there are no charges for this. If the loan has been availed on fixed rate of interest, then you need to pay 2% (plus applicable taxes) on the outstanding principal.

    Why You Should Choose ICICI Home Loan

    Choosing a home loan provider is challenging. Building a new home is a dream to many, choosing the right bank takes you one step closer to make your dream come true. Many leading banks offer excellent home loans with attractive features. ICICI Bank is one such bank that offers home loans that is specially designed keeping their customers in mind. To know more ICICI Bank home loans, the charges associated with it, the documentation process, or to check your eligibility: Click Here

    Excellent Home Improvement Loans From ICICI

    People often require funds and opt for loans to renovate their existing home. To help homeowners refurbish their house, ICICI Bank is now offering home improvement loans with attractive features. To check if you are eligible to apply for a ICICI Bank home improvement loan: Click Here

    Home Equity Loan Offered By ICICI Bank

    Home equity loan is trending these days. This type of loan is when a borrower uses the equity of the house as collateral. Many people opt for home equity loans to take care of other expenses like home renovations, medical expenses, or for higher education. One of the most popular home equity loans in India is ICICI Bank Home Equity Loan. If you want to check if you are eligible to apply for a ICICI Bank Home Equity Loan: Click Here

    Home Loan - Sitemap

    ICICI Bank Home Loan Reviews

    • ICICI Bank Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My home loan application was approved with ICICI bank and the experience was good, the process was quite long and it took 2 months to receive the loan. The rate of interest was nominal when compared to other banks. Customer service was good and they followed up on time.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 20, 2018
    • ICICI Bank Home Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      The application process was quite long with ICICI home loan, it took 20 days for the loan amount to get disbursed. The loan amount was based on my requirement and the rate of interest was nominal when compared to all other sources. The tenure for this home loan is for 20 years.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 20, 2018
    • ICICI Bank Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My home loan application was approved with ICICI bank and the experience was good, the process was smooth and i received my loan amount on time. Customer service was up to the mark and their response was good. The rate of interest was nominal when compared to all other banks.
      Was this review helpful? 0
      , pune
      Reviewed on May 20, 2018
    • ICICI Bank Home Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have applied for the home loan from ICICI bank and the experience was good, the process was quite long and it took more than 1 month to disburse the loan. Customer service was good with ICICI bank and they collected documents on time. The rate of interest was nominal when compared to other banks.
      Was this review helpful? 0
      , noida
      Reviewed on May 20, 2018
    • ICICI Bank Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have my home loan application approved with ICICI bank and the experience was good, documents were collected on time and the customer service was good. The rate of interest is nominal when compared to other banks. I received my loan amount within 10 days after the application was approved.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 20, 2018
    • ICICI Bank Home Loan
      "Good service"
      0.5 4.5/5 "Excellent!"
      My home loan application was approved with ICICI bank and the experience was good, the process took 1 month to complete. Customer service was good with ICICI bank as they responded on time. The rate of interest was nominal when compared to other banks. The tenure period for this loan is 10 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 20, 2018
    • ICICI Bank Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I took a home loan from the ICICI bank which I got under subsidized rate of interest. I was paying an EMI of 12000 Monthly. Interest rate was nominal. The tenure was 15 years but I closed the loan even before the tenure. The loan was fully paid with in 7.5 years..closed 7.5 year. There were no pre closure charges.
      Was this review helpful? 0
      , chennai
      Reviewed on May 17, 2018
    • ICICI Bank Home Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      My home loan application was not approved with ICICI bank is because the square ft of the property is not meeting the requirements. When it comes to customer service, it was good and they followed up on time. The rate of interest was nominal when compared to other banks.
      Was this review helpful? 0
      , coimbatore
      Reviewed on May 17, 2018
    • ICICI Bank Home Loan
      "Needs to improve"
      0.5 3.0/5 "Satisfactory"
      I have my home loan application closed with ICICI bank, the reason behind closing the application is, i have taken home loan from other source. The customer support of ICICI bank was not up to the mark and there was delay in the response. The rate of interest of 8.6% was hig when compared to other banks.
      Was this review helpful? 0
      , jaipur
      Reviewed on May 16, 2018
    • ICICI Bank Home Loan
      "Needs to improve"
      0.5 3.0/5 "Satisfactory"
      My home loan application was closed with ICICI bank, the reason behind closing the application is there was no follow up done by the customer service, they called after one week from the date the application was sent. The rate of interest was nominal when compared to other banks.
      Was this review helpful? 0
      , indore
      Reviewed on May 16, 2018
    • ICICI Bank Home Loan
      "Need to reduce ROI"
      0.5 5.0/5 "Blown Away!"
      I have applied for the home loan from ICICI bank, my loan application was closed because i have taken home loan from other source. Customer service of ICICI was good, they responded on time and there was no delay. The rate of interest was high when compared to all sources.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 15, 2018
    • ICICI Bank Home Loan
      "Need to reduce ROI"
      0.5 4.0/5 "Great!"
      My home loan application was closed with ICICI bank, the reason behind closing the application is, the rate of interest is very high when compared to other banks and i have postponed the plan to get the home loan. Customer service was good and they followed up on time.
      Was this review helpful? 0
      , lucknow
      Reviewed on May 15, 2018
    • ICICI Bank Home Loan
      "Need to reduce charges"
      0.5 3.0/5 "Satisfactory"
      I have closed my home loan application with ICICI bank because there was an on- going issue with the property and the documents were not clear to submit. When it comes to customer service, it is very good and they responded on time. The rate of interest of 8.45% was high when compared to other banks.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 15, 2018
    • ICICI Bank Home Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      My home loan application was closed with ICICI bank, the reason behind closing the application is, they were approving only for 1200 square ft but my property was only for 800 square ft. The rate of interest of 8.6% is nominal when compared to other banks. Customer service was good and they followed up on time.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 14, 2018
    • ICICI Bank Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have applied for the home loan from ICICI bank, my loan application was closed because i have postponed my plan to get the home loan. The rate of interest was nominal when compared to other banks. Customer service was good, they followed up on time and their response was on time.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 14, 2018
    • ICICI Bank Home Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have applied for the home loan from ICICI bank, my loan application was closed because i was waiting for the documents to keep ready and submit. Customer service of ICICI bank was very good, they responded on time and the rate of interest was nominal when compared to other banks.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 14, 2018
    • ICICI Bank Home Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have applied for the home loan from ICICI bank, my loan application was closed because they were not ready to accept the B khata. Apart from this, customer service was very good and they followed up on time. The rate of interest was nominal when compared to other banks.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 14, 2018
    • ICICI Bank Home Loan
      "BEST"
      0.5 4.0/5 "Great!"
      The home loan that i have took long back years and now i have closed it. Actually i have to complete it in 15 years but the thing is that i have closed it with in 7-8 years. The rate of interest that they given is 7.5% at the beginning and latter i had 14% due to floating interest that i i had. No pre closure charge for my loan.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 13, 2018
    • ICICI Bank Home Loan
      "Need improvement in the services"
      0.5 1.0/5 "Really Bad"
      I also bank with ICICI Bank for the home loan. The process is not been up to the mark. They need to be more proactive and customer friendly. The rate of interest and processing charges is also not to my satisfaction. Though I am a existing customer there are no benefits.
      Was this review helpful? 0
      , hosur
      Reviewed on May 09, 2018
    • ICICI Bank Home Loan
      "Need to be more proactive in services"
      0.5 2.0/5 "Expected more"
      I have taken my home loan with ICICI Bank and the rate of interest is of 8.45% on floating. I am not happy with the customer services. They are too slow and they was a lot of delay. The team has to be more proactive. The interest rate and processing fee was normal.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on May 09, 2018
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