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
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    8.90% - 9.10% 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
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    Documents
    Perks
    Fees & Charges
    Good to Know
    8.85% - 9.05% 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
    ICICI Home Loan is Rated as "Great!" by 2491 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 21 Nov 2018

    ICICI Bank Home Loan Details
    Interest Rate 8.90% to 9.10%
    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

    • 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. Below mentioned floating rates are linked to I-MCLR-1Y (One year MCLR) benchmark rate. I-MCLR-1Y is 8.55%. But the interest rates are calculated differently for different groups based on demographics.

    ICICI home loan interest rate for self employed borrower (Floating Interest Rate)

    Loan amount Effective Rate of Interest Rate
    30 lacs to 75 lacs 9.15% I-MCLR-1Y + 0.50%
    Above 75 lacs 9.20% I-MCLR-1Y + 0.55%

    ICICI home loan interest rate for salaried borrower (Floating Interest Rate)

    Loan amount Effective Rate of Interest Rate
    30 lacs to 75 lacs 9.10% I-MCLR-1Y + 0.45%
    Above 75 lacs 9.15% I-MCLR-1Y + 0.50%

    ICICI home loan interest rate for women borrower- self employed (Floating Interest Rate)

    Loan amount Effective Rate of Interest Rate
    30 lacs to 75 lacs 9.10% I-MCLR-1Y + 0.45%
    Above 75 lacs 9.15% I-MCLR-1Y + 0.50%

    ICICI home loan interest rate for women borrower- salaried (Floating Interest Rate)

    Loan amount Effective Rate of Interest Rate
    30 lacs to 75 lacs 9.05% I-MCLR-1Y+0.40%
    Above 75 lacs 9.10% I-MCLR-1Y+0.45%

    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 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.

    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

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    ICICI Bank Home Loan Reviews

    • ICICI Bank Home Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with ICICI BANK , there rate of interest and processing fee was very nominal compare to other in the market . I have taken loan for the first time so i do not have much knowledge about others . Overall it has been great experience while taking loan .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 18, 2018
    • ICICI Bank Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My home loan experience was good with ICICI bank, the process was smooth and i received my loan amount on time. The rate of interest is very less when compared to other banks. Customer service was good with ICICI bank and the tenure period for this loan is 20 years.
      Was this review helpful? 0
      , kolkata
      Reviewed on Nov 15, 2018
    • ICICI Bank Home Loan
      "Good service"
      0.5 4.5/5 "Excellent!"
      My home loan was taken with ICICI BANK , the tenure period is 15year and they charge very nominal rate of interest . The processing fee is high with this bank . They provide satisfactory loan amount and there are no hidden charges with this bank .
      Was this review helpful? 1
      , mumbai
      Reviewed on Nov 12, 2018
    • ICICI Bank Home Loan
      "Good card"
      0.5 5.0/5 "Blown Away!"
      I have took my home loan from ICICI bank ,the service was good, and they have charge nominal rate of interest and processing fee and i am very satisfied with my loan amount as i expected i got more than that and they donâ??t charge unnecessarily like there is no hidden charges and the tenure period is good and even customer support team is good they respond well.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Oct 30, 2018
    • ICICI Bank Home Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan with ICICI bank and my experience was good, the loan amount was for Rs 44 lacs with nominal interest rate when compared to other banks. Customer service was good and they followed up on time. The tenure period for this loan is for 21 years.
      Was this review helpful? 2
      , lucknow
      Reviewed on Oct 24, 2018
    • ICICI Bank Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The experience i had in getting this Home Loan has been good and the loan amount which they had provided has been satisfactory as well. There has not been any sort of additional charges which they had provided and there has been some small problems which they had resolved immediately as well.
      Was this review helpful? 7
      , new delhi
      Reviewed on Oct 17, 2018
    • ICICI Bank Home Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan with ICICI bank and my experience was good, the loan amount was for Rs 22 lacs with nominal interest rate when compared to other banks. Customer service was good and they followed up on time. The tenure period for this loan is for 30 years.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Oct 09, 2018
    • ICICI Bank Home Loan
      "Good Experience"
      0.5 4.0/5 "Great!"
      I got best interest rate from ICICI because I am an exsting customer of the bank.They gave me floating interest around 8% and I done fore closure payment, there was some charges applicable. However my entire home loan process went well with ICICI.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 29, 2018
    • ICICI Bank Home Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan with ICICI bank and the experience was good, the loan amount was for Rs 13 lacs with less interest rate when compared to others. Customer service was good and they followed up on time. The tenure period for this loan is 20 years.
      Was this review helpful? 3
      , vadodara
      Reviewed on Sep 25, 2018
    • ICICI Bank Home Loan
      "Satisfactory"
      0.5 4.0/5 "Great!"
      I have taken my home loan with ICICI bank. The loan amount was 45 lakhs and the interest rate was satisfactory . The tenure period was 23 years . The customer service and responses was good. I had very smooth process here and there is no inconvenience faced ,
      Was this review helpful? 6
      , pune
      Reviewed on Sep 22, 2018
    • ICICI Bank Home Loan
      "Not satified"
      0.5 2.5/5 "Just OK"
      I have taken with home loan with ICICI bank . The loan amount was 643 lash and the interest rate was on a higher side. The tenure period was 25 years . The process was complicated here and they did not inform about the insurance amount which they have added along with processing fee . The process fee was very high here.
      Was this review helpful? 2
      , new delhi
      Reviewed on Sep 21, 2018
    • ICICI Bank Home Loan
      "Satisfactory"
      0.5 4.0/5 "Great!"
      I have taken my home loan with ICICI bank. The loan amount was 4 lakhs and the interest rate was satisfactory . The tenure period was 20 years . The customer service ad responses was very good. I have not faced any inconvenience here and the loan was approved on time.
      Was this review helpful? 2
      , new delhi
      Reviewed on Sep 21, 2018
    • ICICI Bank Home Loan
      "Satisfactory"
      0.5 4.0/5 "Great!"
      I have taken my home loan with ICICI bank 12 years back. The loan amount was 30 lakhs and the interest rate was satisfactory . The tenure period was 30 year . .There is no issues with the service here and it was quite smooth also. They have sanctioned the loan with the committed time,
      Was this review helpful? 1
      , mumbai
      Reviewed on Sep 14, 2018
    • ICICI Bank Home Loan
      "Satisfactory"
      0.5 4.0/5 "Great!"
      I have take my home loan ICICI bank . The loan amount was I25,000 and the given interest rate was 5 years . The loan process was very good and the documentation was very smooth. processing fee was nominal when compared with other banks.My overall experience was good.
      Was this review helpful? 7
      , mumbai
      Reviewed on Aug 30, 2018
    • ICICI Bank Home Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have my home loan approved with ICICI bank and the experience was good, the process was smooth and the loan amount was disbursed in a month. The loan amount was for Rs 18 lacs with nominal interest rate. Customer service was fine and they responded on time. The tenure period for this loan is 20 years.
      Was this review helpful? 1
      , new delhi
      Reviewed on Aug 29, 2018
    • ICICI Bank Home Loan
      "Not satisfied"
      0.5 2.0/5 "Expected more"
      My home loan experience was not good with ICICI bank, the process took 1 month to complete. The loan amount was for Rs 13.29 lacs with rate of interest of 8.6% which is high. Customer support is not that good with this bank. For any queries, we need to raise a request ID on the web and then call to the customer service.
      Was this review helpful? 2
      , new delhi
      Reviewed on Aug 29, 2018
    • ICICI Bank Home Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have my home loan application approved with ICICI bank and the experience was good, the loan amount was for Rs 22 lacs with nominal interest rate in the market. Customer service was good and they collected documents on time. The process was smooth and the loan was disbursed on time.
      Was this review helpful? 2
      , mumbai
      Reviewed on Aug 29, 2018
    • ICICI Bank Home Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      The application process was smooth with ICICI bank for home loan, it took 1 month to disburse the loan amount. Documents were collected on time and the customer service was good with ICICI bank. The loan amount was for Rs 20.5 lacs with nominal interest rate when compared to other banks.
      Was this review helpful? 2
      , pune
      Reviewed on Aug 28, 2018
    • ICICI Bank Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a home loan with ICICI bank and my loan experience was good, the loan amount was for Rs 6 lakhs with high interest rate of 13%. Customer service was good with ICICI bank and they responded on time I pay an EMI of Rs 8300 and the tenure period for this loan is 10 years.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Aug 17, 2018
    • ICICI Bank Home Loan
      "Overall good."
      0.5 5.0/5 "Blown Away!"
      My home loan is with ICICI Bank and the process was smooth and easy. There was no much of documentation and the experience was nice. The customer support and response is good and there are no issues to get the loan. The rate of interest and processing charges are reasonable too.
      Was this review helpful? 2
      , navi mumbai
      Reviewed on Aug 16, 2018
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