ICICI Pre-Approved Home Loan is available for the existing customers of the bank in order to help them achieve their dream of buying and living in the house that they have always wanted. You will be able to check your loan amount eligibility online on the official website of ICICI Bank by filling out the quotes form with the required details and submitting it. Additionally, you will have to submit minimal documents in order to secure this loan.
Check out the rates offered by ICICI Bank on pre-approved home loans mentioned in the table below:
|Type of Borrowers||Category||Floating Interest Rate for Salaried Professionals||Floating Interest Rate for Self-Employed Individuals|
|ICICI Bank account customers||Up to Rs.35 lakh||I-MCLR-1Y + 0.05% p.a. = 8.80% p.a.||I-MCLR-1Y + 0.05% p.a. = 8.80% p.a.|
|Other borrowers||Up to Rs.35 lakh||I-MCLR-1Y + 0.30% p.a. = 9.05% p.a.||I-MCLR-1Y + 0.35% p.a. = 9.10% p.a.|
|Rs.35 lakh to Rs.75 lakh||I-MCLR-1Y + 0.40% p.a. = 9.15% p.a.||I-MCLR-1Y + 0.45% p.a. = 9.20% p.a.|
|Above Rs.75 lakh||I-MCLR-1Y + 0.45% p.a. = 9.20% p.a.||I-MCLR-1Y + 0.50% p.a. = 9.25% p.a.|
|Types of Charges||Details|
|Loan processing fees or renewal charges||0.5% to 1% of the loan amount or Rs.2,000 for Mumbai, Delhi, and Bangalore/Rs.1,500 for other cities (whichever is higher) + applicable surcharge and service tax|
|Charges for late payment||
|Repayment mode swap charges||Rs.500|
|Cheque, AD, or ECS bounce charges||Rs.500|
|Document retrieval charges||Rs.500|
|No Objection Certificate or No Due Certificate Fees||Nil|
|Charges for duplicate No Objection Certificate or No Due Certificate||Rs.100|
|Fees for revalidation of No Objection Certificate||Rs.100|
|CIBIL report charges||Rs.50|
|Legal, repossession, and incidental charges||At actuals|
The prepayment charges associated with pre-approved home loans offered by ICICI Bank as on 13 May 2019 are as follows:
|Floating rate of interest||Nil|
|Fixed rate of interest||2% of outstanding principal amount plus applicable taxes|
|Top Up loan||2% of outstanding principal amount plus applicable taxes|
|Non-individual borrowers or individual borrowers with fixed interest rate||4% of outstanding principal amount plus applicable taxes|
If you are planning to buy your dream home using an ICICI Pre-Approved Home Loan, you should learn about your eligibility beforehand. This will allow you to freely negotiate with the builder or seller. You can check your eligible loan amount by visiting the official website of ICICI Bank, filling out the required form, and submitting the same. You will only have to provide the required personal information, loan details, work information, and details of co-applicant (if any) to receive a personalised quote.
The list of mandatory documents that should be submitted in order to avail a pre-approved home loan from ICICI Bank is mentioned below:
|Proof of Identity||
|For self-employed professionals||
|For self-employed non-professionals||
|original property documents||
Learn about the main features of ICICI Pre-Approved Home Loans by checking out the list mentioned below:
No, the one-time processing fee paid by the borrowers while availing an ICICI Pre-Approved Home Loan is completely non-refundable.
Yes, ICICI Bank levies an additional fee if you want to convert your rate of interest type.
Yes, customers can choose to make part pre-payments of their pre-approved loans offered by ICICI Bank.
Yes, the rates of interest available under this scheme are linked to the ongoing MCLR which is reviewed and published every month on a pre-determined date.
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