Overview
This loan can be availed to buy a property that is presently under construction. Builders offer minimum 20% lower rates for such properties.
Now, if you take a loan for such a property, ICICI will pay the builder in installments, whereas you can pay only the interest till the construction is complete. The EMIs that include the principle and the interest will begin after that period.
Here are the current lending rates being offered to new borrowers by ICICI bank. While Salaried women have the option of availing a reduced lending rate by 0.5% (provided they are the first owner of property). The same privilege is not being extended to self-employed women.
Loan Slab | Lending Rate | Lending Rate for Women |
Upto 5 crore | 9.60 | 9.65 |
Above 5 crore | 9.85 | 9.90 |
Loan Slab ( 1 - 3 years) | Lending Rate | Lending Rate for Women |
Upto 5 crore | 9.65 | 9.65 |
Above 5 crore | 9.90 | 9.90 |
Loan Slab ( 5 years, 10 years) | ||
Upto 30 lakhs | 9.65 | 9.60 |
30 lakhs - 5 crore | 9.75 | 9.70 |
Above 5 crore | 10 | 9.95 |
Loan Slab (30 years) | ||
Upto 30 lakhs | 9.75 | 9.70 |
30 lakhs - 5 crore | 9.85 | 9.80 |
Above 5 crore | 10.1 | 10.05 |
Loan Slab | Lending Rate |
Upto 1.5 crore | 9.65 |
Above 1.5 crore | 9.75 to 9.90 |
Loan Slab ( 1 - 3 years) | Lending Rate |
Upto 1.5 crore | 9.65 |
Above 1.5 crore | 9.75 to 9.90 |
Loan Slab ( 5 years, 10 years) | |
Upto 30 lakhs | 9.65 |
Above 30 lakhs | 9.75 to 10 |
Loan Slab (30 years) | |
Upto 30 lakhs | 9.75 |
Above 30 lakhs | 9.85 to 10.10 |
Eligibility
These loans can be availed by resident Indians whether salaried or self-employed and also by non-resident Indians.
Processing Fees
0.5% - 1% of the loan amount or Rs. 2000/- whichever is higher + applicable Service Tax & Surcharge.
Document Required
(points 3 and 4 should be of both the individual and the business entity and attested by a CA)
All documents to be self-attested.
Please note that the above list is indicative in nature and the bank may require more documents as per case.
Note: All documents listed above are only indicative of the general list of documents requested by the bank, these may vary depending on your location and financial history. Do check with your bank while applying for the loan.