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  • ICICI Home Loan

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  • ICICI Bank offers eligible borrowers housing loans at attractive interest rates starting at 8.60% 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 and full waiver of prepayment penalty on floating rate loans. ICICI also links with the PMAY Scheme, offering home-buyers a boost with respect to buying a house.
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    We found 1 ICICI Bank Home Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    8.65% - 10.35% Floating
    0% - 0.50% + Applicable Taxes One time fee
    5L - 10Crs
    3-30 Years
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know

    ICICI Bank Home Loan Schemes

    Key Highlights

    • Attractive Interest rates on both fixed and floating rate loans
    • Lower Equated Monthly Installments (EMIs)
    • Zero prepayment charges on floating rate loans
    Borrowers Type Floating Rate of Interest (% p.a.) Processing Fee
    For Salaried 8.80 – 9.10 Up to 2% of the loan amount or Rs.1,500* (whichever is higher)
    For Self-employed 8.95 – 9.25 Up to 2% of the loan amount or Rs.1,500* (whichever is higher)

    * Rs.2,000 in Bangalore, Delhi and Mumbai

    1. 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
      Borrowers Type Floating Rate of Interest (% p.a.) Processing Fee
      For Salaried 8.80-9.10 Up to 2% of the loan amount plus applicable tax
      For Self-employed 8.95 – 9.25 Up to 2% of the loan amount plus applicable tax
    2. 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
      Borrowers Type Floating Rate of Interest (% p.a.) Processing Fee
      For Salaried 8.80 – 9.10 Up to 2% of the loan amount or Rs.1,500* (whichever is higher)
      For Self-employed 8.95 – 9.25 Up to 2% of the loan amount or Rs.1,500* (whichever is higher)
    3. 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
      Borrowers Type Floating Rate of Interest (% p.a.) Processing Fee
      For All 8.80 – 9.25 Up to 2% of the loan amount or Rs.1,500* (whichever is higher)

      * Rs.2,000 in Bangalore, Delhi and Mumbai

    4. 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 Home Loan Eligibility Criteria

    Age
    Applicant:
    • Minimum Age: 18 years
    • Maximum Age: 65 years
    Co-applicant:
    • Minimum Age: 21 years
    • Maximum Age: 65 years
    NRIs:
    • Minimum Age: 25 years
    • Maximum Age: 60 years
    Residency Status
    • Resident Indian
    • Non-Resident Indian (NRI)
    Type of Employment
    • Salaried
    • Self-employed
    • Self-employed professional

    Document Required for All Home Loan Applicants Under ICICI Bank

    Identity Proof (any one)
    • Voter ID
    • Aadhaar Card
    • Valid Passport
    • Driving License
    • PAN Card
    Proof of Residence (any one)
    • Driving License
    • Passport
    • Copy of Utility Bills
    • Aadhaar Card
    • Voter ID
    Age Proof (any one)
    • Birth Certificate
    • Aadhaar Card
    • Valid Passport
    • Voter ID
    Proof of Income
    • Bank account statements for the previous 6 months
    • Latest Form 16 or Income Tax Returns
    Other Documents
    • Processing fee cheque in favour of the bank
    • Duly filled loan application form with passport size photographs

    Use BankBazaar ICICI Bank Home Loan EMI Calculator to Know Your EMI

    The BankBazaar ICICI Bank Home Loan EMI Calculator is an automized online tool that allows you to compute the EMIs payable against your loan by entering a few basic parameters. The tool also provides an amortization schedule illustrating your debt repayments towards the interest and principal components of the EMIs on a monthly and annual basis.

    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 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 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.

    ICICI Bank Home Loan FAQs

    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.

    ICICI Bank Home Loan Resource Centre

      

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    ICICI Bank Home Loan Reviews

    • ICICI Bank Home Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have taken home loan directly through ICICI Bank.The rate of interest and the processing fee was medium.I have got the loan sanctioned on time .The documents was very less and each and every detail was shared clearly by the agent .This loan is still active and there was no difficulties faced so far.
      Was this review helpful? 2
      , salem
      Reviewed on Nov 26, 2019
    • ICICI Bank
      ICICI Bank Home Loan
      "Need to improve the privileged customer service"
      0.5 3.5/5 "Pretty good"
      My home loan was taken from ICICI and they have deducted my EMI even before given the cheque to me. I have taken the loan amount of Rs. 40 lakhs in the year of 2012. Even before given the cheque to the builder they have taken the EMI amount of Rs. 55000 except processing fee. The loan has a tenure period of 10 years.
      Was this review helpful? 4
      , jaipur
      Reviewed on Nov 08, 2019
    • ICICI Bank Home Loan
      "Good interest rate to the needy person"
      0.5 5.0/5 "Blown Away!"
      My home loan was taken from ICICI because i am a banking customer of ICICI from the year of 2012. I purchased the loan amount of Rs. 18 lakhs and i have been paying the EMI amount of Rs. 14900. I have selected the duration of 30 years. They have sanctioned the loan within 10 days.
      Was this review helpful? 3
      , ahmedabad
      Reviewed on Nov 06, 2019
    • ICICI Bank Home Loan
      "Average Loan service"
      0.5 3.0/5 "Satisfactory"
      ICICI bank has provided me a home loan at the time of i want on a immediate basis. Since the necessity is over they have provided me a timeliness loan. I taken the loan amount of Rs. 10 lakhs and the have charged me a higher interest rates which i'm not comfortable with.
      Was this review helpful? 1
      , mumbai
      Reviewed on Oct 05, 2019
    • ICICI Bank Home Loan
      "Need to be very clear with the process"
      0.5 1.0/5 "Really Bad"
      I am running a home loan with ICICI BANK and making the payments time to time from last 3 years. They have provided me 31L to purchase residential property but the loan process and services are not good, whatever I enquire they don't know that. The interest rate was very good.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Sep 24, 2019
    • ICICI Bank Home Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I have chosen ICICI BANK for a home loan because they have provided me maximum fund and supportive. The loan duration is 10 years. I can do partial payment and foreclosure with some charges. The interest rate is okay and the processing fee is also normal.
      Was this review helpful? 3
      , coimbatore
      Reviewed on Sep 17, 2019
    • ICICI Bank Home Loan
      "Good but can do better on the interest"
      0.5 4.0/5 "Great!"
      I took new housing loan from ICICI bank, they approved the loan amount of Rs.26 lakhs with the duration of 10 years. They taken some stamp duty and processing fee from the disbursement, they have balance transfer part payment and foreclosure.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 06, 2019
    • ICICI Bank Home Loan
      "Very bad loan service"
      0.5 0.5/5 "Unacceptable"
      I have applied the home loan from ICICI bank since i have a salary account with them. In the branch, the approach is not good and they are not interested to provide the loan to the customer. I had applied the loan amount of Rs. 21 lakhs and they asked me to submit the documents once i given the same, they said they cannot able to process the same because they will give only for CITI side house.
      Was this review helpful? 3
      , kochi
      Reviewed on Aug 31, 2019
    • ICICI Bank Home Loan
      "Good Loan"
      0.5 3.0/5 "Satisfactory"
      I got the good option in CITI bank when i chosen the home loan. I purchase the loan in the year of 2006 but the interest rate is high. I applied the loan amount of Rs. 6.5 lakhs for that they have given me a interest rate of 11%. I have closed the loan in 2013. I have pre-closed the loan with the additional charges of 3%
      Was this review helpful? 1
      , indore
      Reviewed on Aug 20, 2019
    • ICICI Bank Home Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken Home loan directly through ICICI Bank .The rate of interest and the processing fee was nominal .I have applied for the loan amount of 27 lakhs for the tenure of 18 years .I have got the loan amount on time and it was sufficient as well .While submitting the documents there was no drawbacks .
      Was this review helpful? 2
      , jaipur
      Reviewed on Aug 17, 2019
    • ICICI Bank Home Loan
      "Fast Loan"
      0.5 5.0/5 "Blown Away!"
      The process is simple hence i have chosen the Home loan from ICICI. It was done the loan in 7 days. So far i have taken the home loan 5 times in that 4 has been repaid and final one still going on. I bought the loan amount of Rs. 30 lakhs and the tenure period of 20 years. My previous loan was done a pre-closure one. They have charged me a pre-closure charges of 2 to 3% which is on higher side.
      Was this review helpful? 1
      , chandigarh
      Reviewed on Aug 17, 2019
    • ICICI Bank Home Loan
      "Good for home loan "
      0.5 5.0/5 "Blown Away!"
      The rate of interest is low at the time of taking a loan when i compared to other bank and also they have a fore-closure options hence i have taken my home loan from ICICI bank. It was a 5 years loan and i have paid the entire amount in 2 years. The loan amount was Rs. 15 lakhs and they have provided me a loan within 20 days.
      Was this review helpful? 1
      , kolkata
      Reviewed on Aug 16, 2019
    • ICICI Bank Home Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have applied for a home loan with ICICI BANK because they are giving me good offer on the interest rate was around 8.5%. Their representative was very helpful and good to me but unfortunately I could not process this loan due to my personal reason from my end but still they have been keep following me and getting notifications too.
      Was this review helpful? 3
      , chennai
      Reviewed on Aug 13, 2019
    • ICICI Bank Home Loan
      "Too Good Service"
      0.5 5.0/5 "Blown Away!"
      I have taken the home loan from ICICI and they are too good on any kind of commitment even they have given me some grace period to make the payment. I have already cleared the loan 5 years back. In face i have a savings account from them. Their interest rates are very reasonable and they come up with all the offers and some surprised discount will be there which customer looks into it.
      Was this review helpful? 1
      , mumbai
      Reviewed on Aug 09, 2019
    • ICICI Bank Home Loan
      "Good Loan"
      0.5 4.0/5 "Great!"
      I have a loan from ICICI. I have chosen ICICI because one of my friend is working over there and their interest rate is competitive in the market. They have disbursed the loan in 15 days. I'm not aware of the partial payment and pre-closure charges.
      Was this review helpful? 1
      , thane
      Reviewed on Aug 08, 2019
    • ICICI Bank Home Loan
      "Good"
      0.5 4.0/5 "Great!"
      I was applied for a home loan in ICICI bank on a previous month which was processed through an online. The loan was sufficient for the tenure of 20 years. The rate of interest and fee are nominal. Due to some documents are not available so I have not processed for further.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Aug 02, 2019
    • ICICI Bank Home Loan
      "GOOD"
      0.5 4.0/5 "Great!"
      I am using from lat 2 years, i have submitted the documents, i got the loan amount within a weeks time. The loan amount i got was within one shot, it is sufficient, the rate of interest was 8.30%, 8.6%. The duration for repaying the loan was 15 years.
      Was this review helpful? 2
      , mumbai
      Reviewed on Jul 26, 2019
    • ICICI Bank Home Loan
      "Good Loan Services"
      0.5 3.0/5 "Satisfactory"
      Last 5 years i have a account with them hence i have chosen ICICI for my home loan. The loan amount is 13 lakhs which has processed in 5 days. I'm not sure about the interest rate provided to me. Through ECS, the EMI amount has been deducted. Total tenure period of the loan is 15 years.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jul 15, 2019
    • ICICI Bank Home Loan
      "Very Good Loan service"
      0.5 3.0/5 "Satisfactory"
      I approached the bank directly when i purchased the loan. The service has been good and it took 2 months to sanctioned the loan. I got the loan 15 years back and the interest rate was 11 to 13.5%. Still the EMI is going since i have chosen the EMI for 20 years. I have been paying the premium of Rs. 20000 through net banking.
      Was this review helpful? 2
      , bangalore
      Reviewed on Jul 13, 2019
    • ICICI Bank Home Loan
      "Good"
      0.5 4.0/5 "Great!"
      I applied for a home loan from ICICI Bank. I have not submitted my documents yet. I am businessman so ITR is pending. They did not inform me about rate of interest. Loan amount is very less. Their customer service is really good. I visited the branch one for the same reason. They had given me very clear information.
      Was this review helpful? 0
      , surat
      Reviewed on Jul 12, 2019
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