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Compare: Home Loan Interest Rate all Banks
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. All you need to do is enter your preferred loan amount, interest rate, processing fee, and tenure. Hit “Calculate” to view the results.
You can also check a detailed breakdown of your repayment schedule through an amortisation table.ICICI Bank Home Loan EMI Calculation
|Amount||10 years||20 years||30 years|
*Lowest interest rate of 8.60% 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.
The standard interest rates for ICICI Bank home loan schemes are as follows:
|Slab||Floating Interest Rate|
|Up to 35 lakhs||8.95% to 9.70%|
|35 lakhs to 75 lakhs||8.95% to 9.70%|
|More than 75 lakhs||8.95% to 9.70%|
|Slab||Floating Interest Rate|
|Up to 35 lakhs||9.05% to 9.85%|
|35 lakhs to 75 lakhs||9.05% to 9.85%|
|More than 75 lakhs||9.05% to 9.85%|
|Borrowers Type||Floating Rate of Interest (% p.a.)||Processing Fee|
|For All||8.60% - 9.60%||Up to 2% of the loan amount or Rs.1,500* (whichever is higher)|
* Rs.2,000 in Bangalore, Delhi and Mumbai
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:
The CLSS can be availed by customers looking to:
Benefits of PMAY Scheme:
|Type of Employment|
|Identity Proof (any one)||
|Proof of Residence (any one)||
|Age Proof (any one)||
|Proof of Income||
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.
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.
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.
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.
Yes, for women borrowers the interest rate on home loan is starting from 8.10%. 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-
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.
The documents that are required to apply for ICICI home loan are identity proof, address proof, age proof, income proof, etc.
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.
The interest rate for ICICI Bank home loan vary from scheme to scheme.
The interest rates on fixed deposits under Rs.2 crore were increased by up to 50 basis points by ICICI Bank on 29 October 2022. The interest rates on fixed deposits from Rs.2 to Rs.5 crores have been revised by ICICI Bank.
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