ICICI - Regular Home Loan Interest Rates & Eligibility

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overview-icon   Overview

ICICI home loan can be availed for the purchase of a new or resale property and Home improvement loan is for the extension or renovation of an existing home. In case you are short of money even after availing these loans, ICICI offers a top up loan called Home Plus. It can be availed along with any other home loan.

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.

Floating rates for Salaried Borrowers

Loan Slab Lending Rate Lending Rate for Women
Upto 5 crore 9.60 9.65
Above 5 crore 9.85 9.90

Fixed rate for Salaried Borrowers

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

Floating rates for Self-Employed Borrowers

Loan Slab Lending Rate
Upto 1.5 crore 9.65
Above 1.5 crore 9.75 to 9.90

Fixed rate for Self-Employed Borrowers

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

Identity and residence proof (any 1 can be submitted)
  1. Valid Passport
  2. Aadhar Card
  3. Voter ID Card
  4. PAN, TAN Card
  5. Letter of Allotment

Income proof
  1. PAN, TAN Card
  2. Income Tax Returns along with computation of income for the last 3 Assessment Year's
  3. Balance Sheet for the last three years with Annexure / Schedules
  4. Profit & Loss account statements for the last three years with annexure / Schedules

    5. (points 3 and 4 should be of both the individual and the business entity and attested by a CA)


  5. Current A/c Statements of the business entity for the last 6 months.
  6. Savings Account Statements of the individual for last 6 months.
Other documents
  1. Profile for Business
  2. Latest Form 26 AS
  3. List of Directors and Shareholders with their individual shareholding certified by a CA / CS in case of the business entity being a company
  4. Partnership deed in case of the business entity being a partnership firm
  5. Details of outstanding amount, installments, security, purpose, balance loan term including the ongoing loans of the individual and the business entity.
  6. Application form with attached photographs of applicants / co-applicants
  7. Cheque for processing fee
  8. Property related documents
For NRI:
  1. Copy of relevant pages of Passport
  2. Copy of visa / work permit
  3. Overseas address proof:
  4. Company .Memorandum and Articles of Association
  5. Any one of the following
    1. Utility Bill (Electricity, Telephone, Gas)
    2. Driving License issued abroad
    3. Government issued National Identity Card or Labor Card, or Social Card at the country of residence
  6. Original copy of latest overseas bank account showing overseas address
  7. Application form with attached photographs of applicants / co-applicants
  8. Cheque for processing fee
  9. Property related documents

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.


Link: http://www.icicihfc.com/home_improvement/hi_emi.html


ICICI Bank Logo

ICICI Bank

Introduction:


ICICI bank is one of the leading and most preferred home loan lenders in India. It has assets worth INR 4,736.47 billion as of March 31, 2012 and a network of 4,050 branches and 12,642 ATMs in India. Along with its national presence it is also present in countries like the United Kingdom and Canada, United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar, Dubai International Finance Centre and China. It also has representative offices in United Arab Emirates, South Africa, Bangladesh, Malaysia and Indonesia.

It offers the following products:

  • EMI under Construction
  • Home Plus
  • Home Improvement Loan
  • Land loan
  • Office Premises Loan
  • Lease Rental Discounting
  • Balance Transfer

Advantages of borrowing from this bank:


The bank is known for their quality of service and competitive interest rates. They also process documents faster than public sector banks so that your dream home can be yours faster.

More Schemes


Loan for Commercial Properties

Office premises loan can be availed for an existing or new business. The entrepreneur can purchase, construct or extend their office premises with the loan money. It can also be used for the renovation of the property.

ICICI Bank Land Loan

A Land Loan is for people who want to buy land/plot for the purpose of constructing a property on it. It is great for investment purposes as you can avail another loan fromh ICICI along with this loan.

ICICI Bank Regular Home Loan

ICICI home loan can be availed for the purchase of a new or resale property and Home improvement loan is for the extension or renovation of an existing home.

EMI Under Construction - ICICI Bank

This loan can be availed to buy a property that is presently under construction. Builders offer minimum 20% lower rates for such properties.