ICICI NRI Home loan

Prepayment Charges

Up to 4% + applicable taxes

Late Payment Charges

2% per month

Rate Conversion Charges

1. 0.5% of the principal outstanding + taxes (from floating to floating rate)
2. 0.5% of the principal outstanding + taxes (dual fixed rate to floating)
3. 0.5% of the principal outstanding + taxes (from floating to dual fixed rate)
4. 1.75% of the principal outstanding + taxes (lifetime fixed rate to floating)

Age

Minimum 21 years and maximum 65 years or retirement age

Residential status

Living outside India for a minimum period of 1 year (salaried)

Residential status

Living outside India for a minimum period of 3 years (self-employed)

Minimum qualification for the salaried

Graduate or diploma (up to 10 years loan tenure)

Minimum qualification for the salaried

Post graduate for Middle East countries (up to 15 years loan tenure)

Minimum qualification for the self-employed

SSC or its equivalent

Income criteria

$42,000 (for salaried and self-employed individuals living in the US and other countries)

Income criteria

GCC: $26,000 for merchant navy and AED 84,000 for others (Other countries: $26,000 for merchant navy and $42,000 for others)

Personal Details

1. Duly signed passport-size photograph (both applicant and co-applicant)
2. Visa copies of both the applicant and co-applicant
3. Passport copies of both the applicant and co-applicant
4. Duly signed Power of Attorney document
5. Duly signed letter of authorisation
6. Overseas residential address proof
7. PAN Card details
8. Self-attested address proof
9. Company/organisation details

Other documents for the salaried

1. Last 3 months' salary slips for fixed income and 4 months' salary slips for variable income
2. Copy of employment letter or salary certificate of the current company
3. Last 6 months' bank statements
4. Copy of previous employment letters

Other documents for the self-employed (Income Proof)

1. Profit and loss statements for the last 2 years certified by C.A. (Middle East countries)
2. Profit and loss statements for the last 2 years reviewed by CPA (US and Canada)
3. Profit and loss statements for the last 2 years certified by C.A. or any other equivalent

Guarantor documents

1. Copy of Visa and passport
2. Current residential address (overseas) proof
3. Income proof