ICICI Bank Home Loan Interest rate @8.65% p.a Onwards EMI Calculator

 

(Updated on 02.01.2017) ICICI Bank Home Loan EMI Calculator JAN 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 BANK HOME LOAN – INSTANT QUOTES ONLINE

Professional Details
Loan Amount
Occupation
Yearly Income
City
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ICICI Bank Home Loan

ICICI Bank is the largest private sector bank in India and is headquartered in Mumbai. It has pan India presence with 4,450 branches across India. It is a well known brand in home loan market because of it’s excellent home loan plans . It offers home loan at competitive interest rates, repayment period is high and has simple documentation. ICICI Bank offers home loan at rate of interest of 9.10% to 9.40% per annum to women borrowers and 9.15% to 9.45% per annum for general borrowers.

ICICI Bank Home Loan Interest Rate

Women Borrowers

Floating Interest Rate

Upto ₹ 75 lakhs

8.65%

₹ 75 lakhs to ₹ 5 Crores

8.70%

Above ₹ 5 crores

8.80%

 

Fixed Interest Rate for 5 years, 10 years

Up to ₹ 30 lacs

8.70%

₹ 30 lacs to ₹ 5 crore

8.80%

Above ₹ 5 crore

8.90%

 

Full Tenor Fixed Interest Rate

Up to ₹ 30 lacs

9.70%

₹ 30 lacs to ₹ 5 crore

9.80%

Above ₹ 5 crore

10.05%

Weaker Section Borrower

Floating Interest Rate

Up to ₹ 28 lacs

8.65%

Salaried Borrower

Floating Interest Rate

Up to ₹ 75 lacs

8.70%

₹ 75 lacs to ₹ 5 crore

8.75%

Above ₹ 5 crore

8.85%

 

Fixed Interest Rate for 2 years, 3 years

Up to ₹ 75 lacs

8.70%

₹ 75 lacs to ₹ 5 crore

8.75%

Above ₹ 5 crore

8.85%

Fixed Interest Rate for 5 years, 10 years

Up to ₹ 30 lacs

8.75%

Above ₹ 30 lacs

8.85% to 8.95%

Full Tenor Fixed Interest Rate

Up to ₹ 30 lacs

9.75%

Above ₹ 30 lacs

9.85% to 10.10%

Self Employed Borrowers

Floating Interest Rate

Up to ₹ 75 lacs

8.70%

Above ₹ 75 lacs

8.75% to 8.85%

 

Fixed Interest Rate for 2 years, 3 years

Up to ₹ 75 lacs

8.70%

Above ₹ 75 lacs

8.75% to 8.85%

 

Fixed Interest Rate for 5 years, 10 years

Up to ₹ 30 lacs

8.75%

Above ₹ 30 lacs

8.85% to 8.95%

 

Full Tenor Fixed Interest Rate

Up to ₹ 30 lacs

9.75%

Above ₹ 30 lacs

9.85% to 10.10%

 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

ICICI Bank Home Loan Features

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

  • Affordable interest rates.

  • Pr-sanctioned home loan before property selection.

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

  • Pre-approved home loans for selective customers.

  • Facility to link personal loan with home loan.

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

Types of Home Loans

1) ICICI Bank Step Up Home Loans

  • This home loan scheme can be availed by young salaried professionals.

  • You have the provision to pay moderate EMIs.

  • There is enhanced eligibility up to 20%.

  • 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

  • You can enhance your loan amount by up to 20% with ICICI Extraa Home Loans

  • An option to extend the repayment period up to 67 years of age.

  • For middle age, salaried customers, Self Employed customers, For young, salaried customers.

  • The enhancement in loan/repayment period is backed by Mortgage Guarantee.

3) ICICI Bank Pradhan Mantri Awas Yojana

The primary aim of Pradhan Mantri Awas Yojana is to ensure that 2 crore houses are build across the country. The target group of this scheme are people who belong to low income group and economically weaker section of the society. ICICI Bank being the largest private sector bank in India provides home loan in accordance with Pradhan Mantri Awas Yojna guidelines.

4) ICICI Bank Pragati Home Loans

  • Under Pragati Home Loans 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.

ICICI Home Loan Interest Rates

Category

Effective rate of Interest

Upto Rs. 75 lakhs

9.10% p.a.

Rs. 75 lakhs to Rs. 5 crores

9.25% p.a.

Above Rs. 5 crores

9.40% p.a

ICICI HOME LOAN ELIGIBILITY

  • Min. Age 18 years & Max. 70 years. i.e. the age by which the loan should be fully repaid.

  • Loan amount will be determined taking into consideration 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 SBI.

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

  • Regular income from all sources.

  • Equitable mortgage of the property.

ICICI BANK HOME LOAN DOCUMENTS REQUIRED

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.

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 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 with floating rate of interest.

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

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

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

How to apply for ICICI bank home loan?

You can apply for ICICI bank home loan online through loansninsurances.com . Both existing and new customer can apply for home loan online by logging on to the registration page and completing the application process with the required details.

ICICI BANK MCLR RATE JANUARY 2017

Interest rate on all rupee loans sanctioned and credit limits renewed w.e.f. JAN 1, 2017 will be priced with reference to I-MCLR benchmarks.

Loan Tenure

MCLR

Overnight

8.00%

One month

8.00%

Three months

8.10%

Six months

8.15%

One year

8.20%

YEARLY CALCULATED VALUES FOR ICICI BANK HOME LOAN AMOUNT OF Rs. 100,000 @ INTEREST RATE OF 8.65% FOR 10 YEARS

For a loan against the amount of Rs 10,00,000 for 10 years at the interest rate of 9.10% p.a., the EMI comes out as Rs. 12,479. To know the EMIs for all the years, see the below given table. Values calculated on Jan 1, 2017

Home Loan Amount(Rs)

Interest Rate(%p.a.)

Loan Tenure(yrs)

Monthly Installment(EMI)

Total Interest Amt

Total Amount (Principal + Interest)

10,00,000

8.65

1

Rs 87,289

Rs 47,471

Rs 10,47,471

10,00,000

8.65

2

Rs 45,524

Rs 92,584

Rs 10,92,584

10,00,000

8.65

3

Rs 31,637

Rs 1,38,935

Rs 11,38,935

10,00,000

8.65

4

Rs 24,719

Rs 1,86,521

Rs 11,86,521

10,00,000

8.65

5

Rs 20,589

Rs 2,35,334

Rs 12,35,334

10,00,000

8.65

6

Rs. 17,852

Rs 2,85,367

Rs 12,85,367

10,00,000

8.65

7

Rs. 15,912

Rs 3,36,610

Rs 13,36,610

10,00,000

8.65

8

Rs. 14,469

Rs 3,89,050

Rs 13,89,050

10,00,000

8.65

9

Rs. 13,358

Rs 4,42,676

Rs 14,42,676

10,00,000

8.65

10

Rs. 12,479

Rs 4,97,472

Rs 14,97,472

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 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.

Q3)Who is called a guarantor?

A guarantor is a person who guarantees the loan you take. Home loan that are taken by NRIs require guarantor ship of an NRI only.

Q4) Is there option to foreclose the loan?

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

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

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

ICICI BANK HOME LOAN TRENDS JANUARY 2017

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