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  • ICICI NRI Home loan

    Fees & Charges

    Promised Interest Rate

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    Home Loan BYTES FROM OUR KITCHEN

    ICICI NRI Home loan

    ICICI Bank was established in 1994 as ICICI Limited and over the years, it widened the scope of its business to become a diversified financial services group. ICICI is India’s second largest bank when it comes to market capitalization. ICICI bank offers a wide array of comprehensive banking products and services including deposits, credit, life & non-life insurance, asset management and investment banking which caters to the ever-growing needs of Indians and NRIs.

    ICICI NRI home loans are specially designed keeping in mind, the requirements of NRIs. The home loan can be used for varied needs such a building a house and purchasing a property. With guaranteed convenience and fast approval process, ICICI NRI Home Loans will definitely delight the borrowers.

    ICICI Bank NRI Home Loan Eligibility:

    Eligibility Conditions:
    • The applicant must be at least 21 years of age. The maximum age of application is 60 years or age of retirement, whichever is earlier, at the time of maturity of loan.
    • Salaried applicants should have been abroad for at least 1 year.
    • Self-employed applicants should have spent at least 3 years abroad.
    • Education Criteria:
      • For loan tenures ranging from 11 to 15 years, the applicant should have a minimum educational qualification of Diploma or Graduate, having at least 3 years of employment experience abroad.
      • Applicants with professional qualification should have had at least 1 year work experience abroad.
      Income Criteria:
      CountryTerm is less than or equal to 5 yearsIf the term is 6 and 10 yearsMinimum Income for Self-Employed applicants
      Middle East36,000 dhms48,000 dhmsProfessional72,000 dhms
      Post Graduate96,000 dhms
      USA and Other Countries30,000 USD42,000 USD 42,000 USD
      • For applicants from Merchant Navy, the minimum income criteria for terms less than or equal to 5 years is 20,000 USD and for 6 & 10 year terms, 26,000 USD.
      • Self-employed applicants must be earning at least 48,000 dhms for GCC to apply for loans with tenure less than or equal to 5 years. For 6 & 10 year term loans, they should be earning 2,000 USD if they reside in USA and other countries.

    Documents required for ICICI NRI Home Loans:

    Personal Details Documents:
    • Valid VISA and Passport copies for all applicants
    • Latest passport size photo signed across by each applicant and co-applicant
    • Duly signed document of Power of Attorney, authority letter and company details as per ICICI format
    • Copy of existing overseas residential verification proof (driving license, bank statement etc.) for all applicants
    • Self-attested address proof, copy of PAN card and Form 60 for all applicants
    Financial Details for Salaried Applicants:
    • Copy of all previous appointment letters
    • Copy of salary certificate bearing date of joining, current salary and designation or a copy of the current appointment letter
    • For fixed salary, salary slip for last 3 months and for variable salary, salary slip for the last 4 months.
    • Bank statements mentioning salary credits for the last 6 months
    Financial Documents for Self-Employed Applicants:
    • Copy of incorporation of business
    • In case of partnership firm, a copy of partnership deed and MOA & AOA if the company is a private limited
    • Business profile and address proof for office
    • Bank statements for the last 6 months in company’s and individual’s name
    • Last 2 years CPA compiled or reviewed or audited Profit and Loss (P&L) accounts as applicable, depending on the country of operation.
    Personal Guarantor Documents:

    In case the applicant has chosen a NRI Personal Guarantor, the following documents are to be submitted.

    • Current Income documents, Passport and VISA copies of the NRI Guarantor
    • Current overseas address verification proof pertaining to the NRI Guarantor which can be any of utility bill, insurance premium, driving license or bank statement.

    ICICI NRI Home Loan Rates and Charges:

    A processing fee of 0.5% of the total loan any applicable GST will be levied.

    ICICI Bank NRI Home Loan EMI Calculator:

    To ensure your home loan affordability, you must always ascertain the EMI that you would be paying every month towards the home loan and interest. This will not only help you compare various home loan options but will also help you in finding the right home that fits your budget. Online home loan EMI calculators will help you find the amortization details in an instant. You just have to enter details like the loan amount, tenure in years, interest rate and processing charges. The calculator will automatically project your monthly repayment amount i.e., the EMI and amortization schedule.

    This information will help you plan your finances in advance. You can also keep varying the loan amount and tenure till you arrive at a comfortable EMI.

    Features of ICICI Bank NRI Home Loan:

    Here are some of the benefits offered by ICICI for NRI Home Loans.

    • Competitive interest rates, calculated on a monthly reducing basis
    • Applicants are offered the flexibility to choose from either fixed or floating interest rates
    • Part-payment facility at no extra cost
    • Till loan disbursement, unmatchable doorstep service will be offered.
    • Complimentary personal accident insurance up to outstanding loan amount.

    FAQs about ICICI NRI Home Loans in India:

    1. Can I apply for ICICI NRI Home loan without a co-applicant?

      If there is no co-applicant, an NRI Guarantor is mandatory. The Guarantor must also submit his income proof and proof of address.

    2. How do I make the repayment?

      Through normal banking medium, NRE/NRO accounts or from the rental income that comes from the property, the repayment can be done. Also, according to the RBI regulations, the amount should be paid in Indian Rupees only.

    3. Can I prepay the loan before the end of my tenure?

      Yes, you can make prepayments at no additional cost. Depending on the amount prepaid, the outstanding balance will be reduced. For full prepayment, a pre-closure charge of 2% of the outstanding amount and whatever amount is prepaid during the last 12 months, will be levied as pre-closure charges.

    4. When will the loan be disbursed?

      The housing loan amount will be disbursed after you have submitted all the required legal documents for your property. The property should be legally and technically cleared and you must have settled your own contribution for the purchase. For a property that is still under construction, ICICI will disburse the loan amount as per the state of construction.

    5. Will I be permitted to change between fixed and floating interest rates during the loan tenure?

      Yes. However, you will be charged a nominal fee of 1.75% of the outstanding loan amount, for switching between the interest rates.

      Buying a home is probably the biggest investment any of us would ever make in a lifetime. Ensure that the purchase process is happy and hassle-free with ICICI NRI Home loans. Expert guidance, minimal documentation requirements, flexible tenure options and a quick disbursal will ensure that you realize your dream of owning a home, sooner than you’ve expected.

    ICICI NRI Home Loan Reviews

    • ICICI Bank Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It has been a very good experience with them and the process has taken nearly ten days in getting the loan amount. The loan amount which they had provide had been satisfactory and interest rate also had been okay, where it has been 9.30% initially but now it has been changed to 8.50%. There has not been any issues faced so far.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jun 19, 2018
    • ICICI Bank Home Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken housing loan from Icici bank , as they have given promising rate of interest while comparing to other banking which available in market There is no processing fees and easy approval process , payments made through ecs process .customer service and customer response is good regarding queries. The tenure period is 20 years .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 19, 2018
    • ICICI Bank Home Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken housing loan from Icici bank , as they have given promising rate of interest while comparing to other banking which available in market There is no processing fees and easy approval process , payments made through ecs process .customer service and customer response is good regarding queries. The tenure period is 20 years .
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jun 19, 2018
    • ICICI Bank Home Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken housing loan from Icici bank , as they have given promising rate of intrest while comaparing to other banking which available in market , easy approval process , payements made through ecs process .customer service and customer responce is best reagarding queries provides solution. The tenure period is 10 years .
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 19, 2018
    • ICICI Bank Home Loan
      "Good Services from ICICI for Home loan"
      0.5 5.0/5 "Blown Away!"
      The Processing fee is very much comfortable with ICICI Bank. Overall, the documentation process is good. I got the loan in the stipulated time like within 1 week. They have offered a interest rate of 8.50%. They have charged me around Rs. 5000 as processing fee. I have got hassle free services from ICICI bank.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Jun 14, 2018
    • ICICI Bank Home Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have taken home loan from the Icici bank . Documentation and approval took 20 days . As am not satisfied with the rate of interest which is high . They have processing fees cartages which is quiet nominal one. They gave tenure period of 20 years which gets auto debited from bank. Their customer service and response is good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 14, 2018
    • ICICI Bank Home Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      My home loan was taken with ICICI Bank. The process was very good and professional. The loan amount was 5 lakhs and the given interest rate was 8.5% which is average . The tenure period was 6 years . Their executives were not aware of few process but they have sanctioned the loan with the committed time. There is no processing fee also.
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Jun 12, 2018
    • ICICI Bank Home Loan
      "Very good"
      0.5 4.0/5 "Great!"
      My home loan was taken with ICICI bank. The loan amount was 15,50,000 and the given interest rate was 8.55% which is average . The tenure period was 20 years . I had a very good fast and hassle free process here . They have sanctioned the loan wit the committed time and the processing fee was nominal.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jun 12, 2018
    • ICICI Bank Home Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      My home loan was taken with ICICI bank. The process was good but the followup's not done properly.The loan amount was 13 lakhs and the interest rate was 8.45% which is not satisfactory . The process git bit delayed .My overall experience was average .
      Was this review helpful? 0
      , noida
      Reviewed on Jun 12, 2018
    • ICICI Bank Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      My home loan was taken with ICICI bank. The loan amount was 11 lakhs and the interest rate was 8.45% which is average and the tuner period was 5 years The customer service and responses was up to the mark. They have sanctioned the loan with the committed time. The executives were very cooperative and smooth.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 12, 2018
    • ICICI Bank Home Loan
      "Excellent"
      0.5 4.5/5 "Excellent!"
      My car loan was taken with ICICI BANK. The loan amount was 38 lakhs and the interest rate was 8.75% which is not satisfactory . The customer service and responses was up to the mark. I have requested for 44 lakhs and they have given just 38 lakhs so i am planning to cancel the request.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 08, 2018
    • ICICI Bank Home Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      My home loan application was closed with ICICI bank, the reason why the application is closed is due to the Panchayati reason. Customer service was good, they followed up on time and they explained all the details. The rate of interest was nominal when compared to other banks.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 31, 2018
    • ICICI Bank Home Loan
      "Very good"
      0.5 4.5/5 "Excellent!"
      My home loan was taken with ICICI bank11 years back. The loan amount was 9 lakhs and the interest rate was 8.555 which is average. The tenure period was 15 years . The process was good and the processing fee was also nominal. They have provided door step service for collecting documents,.
      Was this review helpful? 0
      , thane
      Reviewed on May 29, 2018
    • ICICI Bank Home Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I have my home loan application closed with ICICI bank, the reason why the application was closed is because the loan amount was not sufficient. Customer service was good and they followed up on time. The rate of interest was nominal when compared to all other banks.
      Was this review helpful? 0
      , lucknow
      Reviewed on May 28, 2018
    • ICICI Bank Home Loan
      "Nice experience "
      0.5 5.0/5 "Blown Away!"
      I also bank with ICICI Bank with home loan. The bank was very transparent and clear in the details. If they were to charge me a fee, they would check with me and then process the same. The rate of interest is also normal. I am happy with the clear process and in all it was smooth.
      Was this review helpful? 0
      , raebareli
      Reviewed on May 26, 2018
    • ICICI Bank Home Loan
      "Not satisfied"
      0.5 2.0/5 "Expected more"
      I have taken a home loan from ICICI bank and the loan experience was not good, the loan amount was for Rs 2.75 lakhs with high interest rate when compared to other banks. I am not happy with the services and the tenure period for this loan is 20 years.
      Was this review helpful? 0
      , coimbatore
      Reviewed on May 24, 2018
    • ICICI Bank Home Loan
      "Needs to improve on customer service"
      0.5 1.0/5 "Really Bad"
      My experience was not good with ICICI bank as my home loan application was closed. It is because i have taken a home loan from other bank. Customer service was not up to the mark and their response was delayed. The rate of interest of 8.45% is bit high when compared to other banks.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 23, 2018
    • ICICI Bank Home Loan
      "Average Service"
      0.5 4.0/5 "Great!"
      I took a home loan from the ICICI bank for 30 Lacs, it was long back and the application process was slow . I got the loan after a month, The whole application and documentation was at the branch. The experience was good and the whole process was smooth and hassle free.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 22, 2018
    • ICICI Bank Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have my home loan application approved with ICICI bank and the experience was good, the process took 1 month to complete. Customer service was good and they followed up on time. The rate of interest was nominal when compared to all other banks.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 20, 2018
    • ICICI Bank Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My home loan application was approved with ICICI bank and the experience was good, the process was quite long and it took 2 months to receive the loan. The rate of interest was nominal when compared to other banks. Customer service was good and they followed up on time.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 20, 2018
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