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

    We found 2 ICICI Home Loan
    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.10,000 Amazon Voucher free Paperless approval 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.10,000 Amazon Voucher free Paperless approval available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    ICICI Home Loan is Rated as "Great!" by 2379 Users
    Home Loan BYTES FROM OUR KITCHEN

    ICICI Home Loan

    ICICI Bank Home Loan Interest RatesUpdated on 18 Jan 2018

    ICICI Bank Home Loan Details
    Interest Rate 8.40% to 8.85% for General Borrowers 8.35% to 8.80% for Women Borrowers
    Processing Fees 0.50% 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.

    Latest Updates on ICICI Bank Home Loan

    1% Cashback Offered by ICICI Bank on EMI payments for Home Loans

    Possibly to capture a large chunk of the market for home loans, ICICI Bank presented a new home loan product. This is a home loan that offers borrowers cashback of 1% on every Equated Monthly Instalment paid as repayment of the home loan, for the complete tenure of the loan.

    This particular offer is available for home loans that have a minimum tenure of 15 years and is applicable to residents of India as well as NRI (Non Resident Indian) customers. One must note however that the cashback will accumulate in the borrower’s account only after a tenure of 3 years of the EMI payments or the 36th EMI.

    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

    ICICI Bank Home Loan Reviews

    • ICICI Bank Home Loan
      "Normal service"
      0.5 4.0/5 "Great!"
      I had taken a home loan from ICICI BanK during the year 2005. The rate of interest was high. That home loan was completed during the year of 2015. It was very hard to reach the customer support and the process was lengthy too. On the same lines, even the processing is also little bit high compared to other bankers.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 13, 2018
    • ICICI Bank Home Loan
      "Very Reasonable Interest Rate"
      0.5 5.0/5 "Blown Away!"
      My uncle had this Loan and eventually I continued with the same. They gave me an interest rate of 8% odd, which I feel is quite good. The overall experience with them was pretty good. It was an alright experience with them throughout and trustworthy too.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 06, 2018
    • ICICI Bank Home Loan
      "Good One"
      0.5 4.0/5 "Great!"
      I actually postponed the plan for now and cancelled the application from my side . The Customer service was good from the bank side , the bank executive came to meet me also but i did not take it further so it got cancelled . Altogether, it was a good experience.
      Was this review helpful? 3
      , jaipur
      Reviewed on Dec 27, 2017
    • ICICI Bank Home Loan
      "Home loan with ICICI"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan from ICICI bank. The approved loan amount was 16 lakhs 25 thousand. The rate of interest was 8.35%. The monthly EMI is 13955 which i have to pay for 20 years. The documentation process is good and comfortable. There was no process fee which is charged by ICICI bank.
      Was this review helpful? 2
      , new delhi
      Reviewed on Dec 27, 2017
    • ICICI Bank Home Loan
      "Pretty good"
      0.5 3.5/5 "Pretty good"
      The customer service was good from the ICICI BANK side for the home loan i took . The bank gave me a full approval on the amount i asked for . From the bank side Process was on time . We delayed from our side . The money got disbursed in 10 working days . The Rate of interest when the bank told me was 8.6% and then it went a bit high like 8.76% and then they came down at 8.7% . The Processing fee was there of 5K in month of april . The bank gave me a Pre closure option told with no charges and also part payment option is also there .
      Was this review helpful? 1
      , bangalore
      Reviewed on Dec 15, 2017
    • ICICI Bank Home Loan
      "Very good"
      0.5 4.5/5 "Excellent!"
      I have my home loan with ICICI bank 1 year back . The loan amount was 15,50,000. The rate of interest was 8.35% which was very less so I am satisfied with it . They have provided door step service for collecting documents. The processing fee was 0.25% which was satisfactory .
      Was this review helpful? 1
      , ahmedabad
      Reviewed on Dec 14, 2017
    • ICICI Bank Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      The ICICI bank is giving me the reward points for the EMI which I pay for the Home loan. The customer support is good with the ICICI bank. The interest rate is getting reduced automatically whenever it getting down in the floating . I have got the home loan around 6 years ago,. I got the required loan amount.
      Was this review helpful? 1
      , chennai
      Reviewed on Dec 11, 2017
    • ICICI Bank Home Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I have taken home loan with ICICI bank and it was a good loan experience, the loan amount was for Rs 36 lakhs with the rate of interest of 8.65% which is nominal when compared to other banks. The tenure of this loan is 20 years. Customer service was good, they provided door step service to collect the documents. The process was quite long and it took 1 month for the loan amount to get disbursed.
      Was this review helpful? 3
      , thane
      Reviewed on Dec 09, 2017
    • ICICI Bank Home Loan
      "Better service"
      0.5 3.0/5 "Satisfactory"
      The home loan service is not up to the mark with the ICICI bank . The additional charges are very high with the ICICI bank. The customer support and the response is not up to the mark with the ICICI bank. The transparency is not seen in the home loan process with ICICI bank.
      Was this review helpful? 3
      , chennai
      Reviewed on Dec 05, 2017
    • ICICI Bank Home Loan
      "Satisfactory"
      0.5 4.5/5 "Excellent!"
      I had taken home loan with ICICI bank last year. The process was very simple and as per my needs they did quick disbursement. The customer service and response was very good. The rate of interest was satisfactory when compared to other banks I have noticed that they are charging higher charges.
      Was this review helpful? 4
      , hyderabad
      Reviewed on Dec 04, 2017
    • ICICI Bank Home Loan
      "OK OK EXPERIENCE"
      0.5 3.0/5 "Satisfactory"
      It was a ok ok experience with ICICI Bank for the home loan i took from them . The bank gave me a rate of interest was 8.4% and the bank gave me a Full approval on the amount i asked for . The money got Disbursed form the bank in a months time . The Processing fee they charged was 5K . The bank gave Pre closure option with no charges it was a thing i don't like .
      Was this review helpful? 2
      , chennai
      Reviewed on Dec 02, 2017
    • ICICI Bank Home Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan with ICICI bank when they offered me it. I have started this existing home loan by 2 years back. The total tenure is 12 years and the loan amount is 20 lakhs which got disbursed immediately. They had only less documentation. The rate of interest which they offered is between 8% to 9% and no processing fees was there.
      Was this review helpful? 2
      , noida
      Reviewed on Dec 02, 2017
    • ICICI Bank Home Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      My home loan was taken with ICICI bank 3 years back. They provided a good service. The documentation process is simple. It was a faster process compared to other bankers. The payment option is convenient. The customer service and response was average. The rate of interest was 9.35%.
      Was this review helpful? 2
      , pune
      Reviewed on Nov 30, 2017
    • ICICI Bank Home Loan
      "Good"
      0.5 4.0/5 "Great!"
      I am having the home loan with the ICICI bank and the interest rate is around 9.5%. I would like to say that the customer service is good one with the ICICI bank for the home loan. Initial down payment is lesser one with the ICICI bank.
      Was this review helpful? 1
      , bangalore
      Reviewed on Nov 30, 2017
    • ICICI Bank Home Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      ICICI home loan service was good ,the documentation part was very simple they collected from my door step and the interest rate they offered me was fine compared to others in the market but the staffs of icici was little slow. So it was a average experience that I had with ICICI Bank with regards to the home loan process.
      Was this review helpful? 1
      , navi mumbai
      Reviewed on Nov 30, 2017
    • ICICI Bank Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      The home loan service was prompt with ICICI bank. The customer support was very helpful in regards to my home loan application, they have disbursed the loan amount within 20days of time. The required loan amount has not given, they have approved 90% of loan amount .
      Was this review helpful? 1
      , hyderabad
      Reviewed on Nov 29, 2017
    • ICICI Bank Home Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have applied for a home loan with ICICI bank. Later I closed down my application because I have postponed the plan as of now. ICICI bank staffs approached me immediately after my application was passed to the ICICI bank. They offered me the loan with 8.35% as rate of interest.
      Was this review helpful? 0
      , faridabad
      Reviewed on Nov 24, 2017
    • ICICI Bank Home Loan
      "Better service"
      0.5 4.0/5 "Great!"
      My home loan experience with ICICI bank was good, the loan amount was for Rs 16 lakhs with the rate of interest of 8.4% which is nominal when compared to other banks. The process was quite long, it took 15 days for the loan amount to get approved. Documents were collected door step from the executive. Customer service was good and they responded on time.
      Was this review helpful? 0
      , bhubaneshwar
      Reviewed on Nov 23, 2017
    • ICICI Bank Home Loan
      "Good experience with ICICI"
      0.5 4.0/5 "Great!"
      I have taken a home loan with ICICI bank. The approved loan amount was 17 lakhs. First the given rate of interest was high. Later they have reduced to 8.7%. The monthly EMI is 21500 with a tenure of 10 years. There was no processing fee with my home loan.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 22, 2017
    • ICICI Bank Home Loan
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      First I applied for a home loan with HDFC bank but I close that loan application with HDFC bank because I got a better offer with ICICI bank where I have an existing loan with them so I choose them instead of HDFC bank. ICICI bank was also so quick in processing the loan just like 5 minutes only. They offered me the loan with 8.5% as rate of interest.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 21, 2017
    Common Loader Icon
     Loading your search... Loading your search...
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.