ICICI offers a special loan scheme wherein the customers can avail loans against property. ICICI loan against property comes at an attractive rate of interest. The loan amount can be used for business or personal needs.
Features of ICICI Loan against Property (Mortgage Loan)
Listed below are the features of ICICI loan against property scheme.
- The loan is sanctioned against existing property owned by the applicant.
- The loan can be used for any purpose ranging from business expenditure to education needs.
- Competitive rates
- Fast processing
- The loan is available for salaried, self-employed professionals and non-professionals residing in India.
- High loan amounts
- Loan tenors up to 15 years
- The loan can be applied for online
- Easy and hassle free application process
- Dedicated team of customer service
Benefits of ICICI Loan against Property
Listed below are the benefits of ICICI loan against property.
- High loan amounts- The bank offers high loan amounts for its ICICI loan against property.
- Long tenor-The loan comes ta high tenor periods of up to 15 years.
- Utility-The loan can be utilised for any personal expenditure and there is no restriction on it.
Eligibility criteria for ICICI Loan against Property
Listed below is the eligibility criteria for ICICI loan against property.
- Available for salaried individuals and self-employed professionals and non-professionals.
- The applicant should be the owner of the property being mortgaged.
Fees and charges for ICICI Loan against Property
Listed below are the fees and charges for ICICI loan against property.
- Prepayment charges- No prepayment charges after six months of final disbursement. Prepayment charges of 2% on principal outstanding amount is applicable within six months of final disbursement.
- Processing fee- Up to 1% of the loan amount.
ICICI Loan against Property Interest rate
- ICICI Regular loan against property interest rate- 12.50%
How to avail ICICI Loan against Property?
It is very easy to avail ICICI loan against property (Mortgage Loan) schemes. One can apply for it online through the bank’s official website or visit one of the bank’s branches. The applicant can also apply for the loan through third party financial websites.