ICICI Home Loan
ICICI Bank offers eligible borrowers housing loans at attractive interest rates Starting from 8.50% p.a with extended loan tenures up to 30 years and easy repayment options. The low processing fees ranging from 0% - 0.50% (plus Applicable Taxes) of the loan amount. ICICI also links with the
PMAY Scheme, offering home-buyers a boost with respect to buying a house.
ICICI Home Loan Calculator
BankBazaar ICICI Bank Home Loan EMI Calculator is an easy-to-use and hassle-free financial tool that lets you calculate your monthly instalments quickly with 100% accurate results every time
You can also check a detailed breakdown of your repayment schedule through an amortisation table.
Click here for "Calculator"
Compare: Home Loan Interest Rate all Banks
ICICI Bank Home Loan EMI Calculation
Amount | 10 years | 20 years | 30 years |
Rs.10 lakh | Rs.12,803 | Rs.9,159 | Rs.8,227 |
Rs.20 lakh | Rs.25,607 | Rs.18,317 | Rs.16,454 |
Rs.40 lakh | Rs.51,213 | Rs.36,635 | Rs.32,907 |
Rs.50 lakh | Rs.64,016 | Rs.45,793 | Rs.41,134 |
*Lowest interest rate of 8.90% p.a. has been taken into consideration for this loan EMI illustration. Your final EMI amount can vary based on the rate offered to you by the bank.
ICICI Bank Home Loan Schemes
The standard interest rates for ICICI Bank home loan schemes are as follows:
Standard Home Loan Interest Rates for Salaried Individuals
Credit Score | Rate of Interest |
800 | 8.75% p.a. |
750 - 800 | 8.75% p.a. |
Standard Home Loan Interest Rates for Self-employed Individuals
Credit Score | Rate of Interest |
800 | 8.75% p.a. |
750 - 800 | 8.85% p.a. |
Standard Home Loan Interest Rates for Salaried Individuals
Slab | Rate of Interest |
Up to Rs. 35 lakh | 8.75% p.a. to 9.40%p.a. |
Rs. 35 lakh to Rs. 75 lakh | 8.75% p.a. to 9.55%p.a |
More than Rs. 75 lakh | 8.75% p.a. to 9.65%p.a |
Standard Home Loan Interest Rates for Self-employed Individuals:
Slab | Rate of Interest |
Up to Rs. 35 lakh | 8.75% p.a. to 9.55%p.a |
Rs. 35 lakh to Rs. 75 lakh | 8.75% p.a. to 9.70%p.a |
More than Rs. 75 lakh | 8.75% p.a. to 9.80%p.a |
Fixed Home Loan Interest Rates
Fixed Tenure | Rate of Interest |
24 Months Fixed | 8.85% p.a. |
37 Months Fixed | 8.65% p,a, to 8.80%p.a, |
60 Months Fixed | Contact the bank |
120 Months Fixed | 10.75%p,a to 11.80% p,a, |
Full Term Fixed | 10.90% p.a to 11.20% p.a. |
Standard Home Loan Interest Rates for Salaried, Self-employed (PSL) Individuals:
Loan Amount | Salaried Customers, Self-employed: Priority Sector (PSL) Customers |
Up to Rs. 50 lakh | 11.10%p.a. to 11.75% p.a. |
Rs. 50 lakh to Rs. 100 lakh | 10.85%p.a. to 11.50% p.a. |
Above Rs. 100 lakh | 10.60%p.a. to 11.25% p.a. |
Standard Home Loan Interest Rates for Self-employed Non-PSL Individuals:
Loan Amount | Self-employed: Non-PSL Customers |
Up to ₹ 50 lakhs | 11.60%p.a. to 12.25% p.a. |
₹ 50 lakhs to ₹ 100 lakhs | 11.35%p.a. to 12.00% p.a. |
Above ₹ 100 lakhs | 11.10%p.a. to 11.75% p.a. |
Note: The rates are valid till 30 June 2025.
ICICI Bank Instant Home Loan
- Pre-approved housing loans up to Rs.1 crore available exclusively for customers with salary account with the bank
- No documents to be submitted at the time of sanction
- Discounted processing fee
ICICI Bank 30 Year Home Loan
- Competitive rates of interest on both floating and fixed rate loans
- Extended loan term up to 30 years for easy repayment
- EMI per lakh as low as Rs.808
ICICI Bank Step Up Home Loans
- Suitable for young salaried professionals with moderate income
- Minimum monthly income required: Rs.20,000
- Loan term up to 20 years
- The interest rates are the same as for standard home loans
ICICI Bank NRI Home Loan
- Zero charges on part-prepayment
- Competitive rates of interest
- Interest rates calculated on monthly reducing basis
- Processing Fee: Up to 2% of the loan amount plus applicable tax
ICICI Bank Pradhan Mantri Awas Yojana
ICICI Bank offers eligible beneficiaries Credit Linked Scheme (CLSS) under Pradhan Mantri Awas Yojana (PMAY). The scheme is available to beneficiaries under the following categories:
- Economically Weaker Section (EWS)
- Low Income Group (LIG)
- Middle Income Group - I (MIG - I)
- Middle Income Group - II (MIG - II)
The CLSS can be availed by customers looking to:
- Purchase a new flat/property
- Construct a house
- Extend/expand an already existing house
- Improve/alter the structure of an already existing property
Benefits of PMAY Scheme:
- Upfront interest subsidy ranging between 3.00% - 6.50% offered on the outstanding principal amount.
- Maximum loan subsidy of Rs.2.67 lakh depending on the category the beneficiary is eligible for.
- Interest subsidy can be availed on loan terms up to 20 years.
- A 9.00% discount included in the calculation of the Net Present Value (NPV) of the interest subsidy.
ICICI Bank Home Loan Eligibility Criteria
Parameter | Requirement |
Age | 20 to 65 years for salaried individuals and 21 to 70 years for self-employed individuals |
Income | Minimum salary of Rs 25,000 |
Employment Stability | Self-employed: Stable business track record |
Credit Score | A good credit score of 700 and above |
Nationality | Indian |
Documents Required for All Home Loan Applicants Under ICICI Bank
Identity Proof (any one) |
|
Proof of Residence (any one) |
|
Age Proof (any one) |
|
Proof of Income |
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Other Documents |
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Features and benefits of ICICI Bank 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 ICICI 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 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 Bank Home Loan
- What are the documents required to apply for ICICI Home Loan?
The documents that are required to apply for ICICI home loan are identity proof, address proof, age proof, income proof, etc.
- Does ICICI provide 90% home loan?
ICICI Bank will offer a loan at 90% LTV if the subject property is valued at less than Rs.30 Lakh. ICICI Bank will offer mortgages with an 80% LTV for properties with values between INR 30 Lakh and Rs.70 Lakh.
- 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.
- 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.
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