ICICI Bank Home Loan, Interest Rate and EMI Calculator December 2017

 

(Updated on 01.12.17) ICICI Bank Home Loan and EMI Calculator December 2017Get Instant Quick & Easy Approval on ICICI Home Loan. Loansninsurances.com provide a simple tool to calculate your Home Loan EMI on the basis of✓Interest Rate✓Loan Tenure✓Processing Fee✓Eligibility✓Best Offers & more.

ICICI Home Loan
Interest Rates for Women 8.35% – 8.50%  (Loan Amt Rs 30 Lakhs) for Salaried
Interest Rates for Others 8.40% – 8.85%
Processing Fees 0.50% of the loan amount *Valid till 30th September 2017
Pre payment Charges Nil
Loan Amount upto 90% of market value
Min. Income Rs.12000/- p.m
Loan Repayment 1 to 30 years

ICICI BANK HOME LOAN – INSTANT QUOTES ONLINE

Professional Details
Loan Amount
Occupation
Yearly Income
City
Disclaimer: We do not provide Home Loans but help you to connect with banks to get best deals.
All loans are on sole discretion on the respective banks

Latest News on ICICI Bank

ICICI has launched a festive cashback offer on both debit & credit card expenditure for the customers availing home loan in a period of 3 months till November 30. Whoever was waiting for ICICI to come up with new festive offers, For them the wait is over. Customers can get a cashback of 20% (up to 10,000). the cashback will be done on a minimum expenditure of ₹ 30,000. The offer is valid from 1st September to 30th November 2017.

ICICI also offers a 20% step – up or enhancement on existing home loans up to ₹ 3 crore with a minimum monthly income of ₹ 20,000.

The cashback will be processed within 90 days post the offer period.

Customers with both credit & debit card can avail the cashback only on one card where maximum cashback is available.

ICICI Bank Home Loan

ICICI Bank offers various home loan products at its simplest and hassle-free way. To meet every customer’s multiple requirements, ICICI Bank Home Loan has lots of tempting features such as affordable interest rates, pre-sanctioned home loan before property selection, longer tenure with lower EMIs, special EMI options, unique “Balance Transfer” feature, pre-approved home loans for selective customers, facility to link personal loan with home loan, floating and fixed interest rates, and lots more. Know your Home Loan Eligibility with ICICI Bank Home Loan Eligibility Calculator and get your suitable home loan approved instantly.

You may know about ICICI Bank Personal Loan which is one of the most enticing personal loans ever designed to help all classes of people to fund their financial emergencies.

ICICI Bank Home Loan Eligibility

  • For ICICI Home Loan, The minimum age of the applicant should be 18 years & the maximum age should be 70 years. i.e. the age by which the loan should be fully repaid.

  • To avail ICICI Home Loan facility, The minimum income for Salaried individual should be ₹ 1,44,000/- whereas for Self-employed individuals the income should be at least ₹ 1,50,000/- per annum.
  • ICICI home loan amount will be depended on applicant’s income and repaying capacity, age, assets and liabilities, cost of the proposed house/flat etc.

  • Income of your spouse/ your son/ daughter living with you, provided they have a steady income and his/ her salary account is maintained with ICICI Bank.

  • Expected rent actual (fewer taxes, cess, etc.) if the house/ flat being purchased is proposed to be rented out.

  • The borrower should have regular income source. 

  • Equitable mortgage of the property.

ICICI Bank Home Loan Features

ICICI Bank Home Loan has lots of exciting features such as:

  • Affordable interest rates.

  • Pre-sanctioned home loan before property selection.

  • Longer tenure with lower EMIs and unique “Balance Transfer” feature.

  • Loans can be manage online.
  • Pre-payments are accepted through NEFT for customer’s convenience.
  • Pre-approved home loans for selective customers.

  • Facility to link personal loan with the home loan.

  • Home Loan overdraft facility is also available with interest applicable on utilised amount. The facility will be linked to the borrower savings or salaried account.
  • ICICI also offers home loan insurance facility.

ICICI Bank Home Loan EMI Calculator

Loan Amount
Interest Rate (Reducing) % Per Annum
Loan Tenure (in Months)
 
Monthly EMI
Total Amount with Interest
Flat Interest Rate PA
Flat Interest Rate PM
Total Interest Amount
Yearly Interest Amount

Home Loan Re-Payment Options

  • For a fully disbursed loan,Option of EMI & Flexible Loan Installment Plan (FLIP) is available.
  • For a partly disbursed home loan,

         – Pre – EMI option is available, Where the customer is required to pay only the interest on the amount disbursed till the full loan is availed.

          & EMI Under Construction option – EMI under construction can be paid either on part disbursed amount or on sanctioned loan amount.

ICICI Bank Home Loan Schemes

1) ICICI Bank Step-Up Home Loan

ICICI step-loan has been exclusively designed for young salaried professionals who have a dream to own a house in the early days of their job. There is enhanced eligibility up to 20% on ICICI Bank Step-Up home Loan.

  • You can avail loan amount up to Rs. 3 Crore.

  • To be eligible for this scheme, the minimum income should be of Rs.20, 000 per month.

  • Maximum loan tenure is up to 20 years.

2) ICICI Bank Extraa Home Loans

ICICI Bank Extraa home loan is currently offered in Greater Mumbai, National Capital Region, Bengaluru and Surat. ICICI Bank Extraa Home Loans is available in three variants to cater to the diverse needs of every citizen.

  • For middle age, salaried customers with age up to 48 years of age. You can get an added facility of repaying the loan till your retirement age or up to 65 years of age.
  • Loan can be availed by self-employed customers who earn higher income in some months of the year, given the seasonality of their business.
  • Young salaried borrowers up to 37 years of age are eligible to avail a 30-year home loan with repayment tenure till 67 years of age.

3) ICICI Bank Pragati Home Loans

  • ICICI Bank Pragati Home Loan you can avail Home Loan, Home Improvement Loan and Non-Residential Premise Loan (NRP).

  • Minimum income of Rs.10,000 per month for salaried applicants.

  • Loan amount from Rs.5 lakh to Rs.50 lakh.

  • Tenure up to 20 years.

  • Easy Balance Transfer facility available.

4) Home Loan Balance Transfer 

Through home loan balance transfer facility, customers can transfer their current home loan from any other bank or any other financial institution at an attractive interest rates with additional top up loan amount up to 100% of the original home loan.

In addition to this, Customers can opt for Balance transfer plus Top Up to lower the EMI obligation on the existing home loan from any other bank or NBFCs & avail additional funds for personal or business requirements.

5) ICICI Bank Saral Rural Housing Loan

This particular housing loan provides loan upto 90% of property value which concentrates on the Women & Weaker sections of the society.

  • It enables them to push their dream into reality of owning a house. Under the loan, facility of acquisition, construction, repair, renovation and up gradation can be availed in rural areas only.
  • Loan tenure will be between 3 – 20 years with a minimum of 5 lacs to a maximum of 15 lacs.

6) ICICI Home Improvement Loan

Home Improvement Loan is offered in order to cover a wide range of external & internal to the structure of the house. The loan as the name suggests focuses on the house improvement with a Home equity rate of interest.

7) 30 Years Home Loan

This particular home loan product provides loan for an extended period of 30 years at an attractive floating and fixed interest rates. The EMI starts at just Rs. 780/-  per lakh.

ICICI Home Loan For NRIs & PIOs

ICICI Bank provides home loans for non resident Indians who wishes to own a house in India.

  • Minimum age of applying for the loan is 25 years with a maximum age of 60 years or retirement age (whichever is earlier) at the time of loan maturity.
  • Facility of online loan application as well as online tracking of application.
  • Part – pre payment facility for zero fees is available with free personal accident insurance to the extend of loan outstanding.
  • To avail the loan, Salaried individuals must be in abroad for a minimum period of 1 year & self employed people should have been in abroad for a min. Period of 3 years.

For Salaried Person(s) – loan tenure upto 10 years with minimum qualification Graduate/ Diploma

  • For Middle East & all other countries, Tenure is 11 to 15 years with minimum qualification Post Graduate/ professional degree and Graduate/ Diploma with minimum 3 years of employment abroad/ professional degree with min 1 year of employment abroad respectively.

For Self-Employed Individual(s) – SSC or it’s equivalent is the minimum requirement.

  • Maximum tenure: Maximum tenure for Home Loan and Home Improvement Loan is 20 yrs.
  • Maximum tenure for Land loan and Home equity loan-Residential is 10 yrs.
  • No Office Premises Loan is allowed.
  • Processing fees is 0.5% of the loan amount + applicable service tax & surcharges.
  • Personal details, Financial details, Personal guarantor documents are needed in hand at the customer’s end.
  • Re payment can be done before / after availing disbursement of the loan & also through pre – payments.

However, for full pre payment of the loan, A 2% pre closure charge would be levied on the outstanding amount or amount that is pre paid in the last 12 months.

ICICI MCLR RATE DECEMBER 2017

Loan Tenure

MCLR

Overnight

7.85%

One month

7.85%

Three months

7.90%

Six months

8.15%

One year

8.20%

ICICI Bank Home Loan Documents Required

ICICI Bank Home Loan for Salaried Individual

  • Application form with photograph duly signed needs to be submitted.

  • Valid passport, Voter ID Card, Aadhaar Card, Pan Card, Valid Driving Licence etc as Identity, residence and age proof.

  • Last 6 months bank statements.

  • Last 3 months Salary-slips.

  • Processing fee cheque.

  • Form 16 or Income Tax Returns.

ICICI Bank Home Loan for Self-employed Individual

  • Application form with photograph duly signed.

  • Valid passport, Voter ID Card, Aadhaar Card, Pan Card, Valid Driving Licence etc as Identity, residence and age proof.

  • Last 6 months bank statements.

  • Last 3 months Salary-slips.

  • Processing fee cheque needs to be submitted.

  • Form 16 or Income Tax Returns.

  • Education qualification certificate and proof of business existence.

  • Last 3 years Income Tax Returns with the computation of Income.

  • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account.

ICICI Bank Home Loan Prepayments

  • Nil for Home Loans and Home Improvement Loans under floating rate of interest.

  • 2% plus applicable taxes on principal outstanding on full repayment on ICICI Home Loans with fixed rate of interest.

  • 2% plus applicable taxes on principal outstanding on full repayment on Top-Up loan if the applicant or co-applicant is Non-Individual.

  • 4% plus applicable taxes on principal outstanding where ICICI home loan is given to Non-Individual borrowers or with fixed rate of interest to Individual borrowers.

Fee & Service Charges

CHARGES HOME LOANS
Loan processing charges / Renewal Charges (Non – Refundable) 0.50% – 1% of the loan amount or Rs. 1500/- (Rs. 2000 for Mumbai, Delhi & Bangalore), whichever is higher + applicable Service Tax & Surcharges.
Charges for late payments 2% per month Home OD : 1.5% of the outstanding amount subject to a minimum of Rs. 500/- & maximum of Rs. 5000/-
Conversion charges for home loan Floating to Floating 0.5% of the principal outstanding + Applicable taxes. Dual fixed rates to Floating 0.5% o the principal outstanding + Applicable taxes. Floating to Dual fixed rate 0.5% of the principal outstanding + Applicable taxes. Life time fixed to floating 1.75% of the principal outstanding +Applicable taxes.
Repayment mode swap charges ₹ 500/-
Document Retrieval Charges ₹ 500/-
Cheques/AD/ECS bounce charges ₹ 500/-
Amortisation Schedule NIL
Statement of Account NIL
Final Pre Payment Statement NIL
Duplicate No Objection Certificate / No Due Certificate ₹ 100/-
Revalidation of No objection Certificate ₹ 100/-
Provisional Income Tax Certificate NIL
Final Income Tax Certificate NIL
Interest Certificate NIL
Change of Address NIL
Agreement Copy NIL
No Objection Certificate / No Due Certificate NIL
Administrative Charges ₹ 5000 (The Administrative charges are a one – time non refundable charges collected by the lender for the purpose of appraising the valuation & legal verification of property to ascertain suitability of accepting the property for mortgage and the same is independent of the outcome / result of such appraisal. Please note that the administrative charges are payable at the time of disbursement of the facility.
CIBIL Report Charges ₹ 50/-

ICICI Bank home loan FAQs

Q1)What is meant by co-applicant ? Is co-applicant mandatory for home loan?

A co-applicant is a person who avails ICICI home loan along with the main applicant. A co-applicant is mandatory if you want to apply for home loan.

Q2)What is meant by security for the loan?

You will be required to provide security of the property or any other additional collateral security to avail ICICI Home Loans.

Q3) Is there option to foreclose the loan?

Yes, there is the option to foreclose the home loan before it’s original tenure expires. The foreclosure charges are 2% of the outstanding amount.

Q5) Do ICICI Bank have the option of prepayment for ICICI home loan?

Yes, ICICI Bank provides its customer with the option to prepay part of the loan at no additional cost during the tenure of the home loan.

ICICI HOME LOAN TRENDS DECEMBER 2017

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User searches for ICICI Home Loan Login up +90% in past week – 12.03.2017
User searches for ICICI Customer Care up +60% in past week – 27.03.2017
User searches for ICICI Bank Home Loan Status up +160% in past week – 05.04.2017
User searches for ICICI Bank Home Loan Calculator up +120% in past week – 28.05.2017
User searches for ICICI Home Loan Login up +84% in past week – 22.06.2017