The ICICI home loan is a cost-effective and comfortable home loan program that is designed to help people realize their dream of owning a home. ICICI bank provide variety of home financing choices that are well-suited to your budget and needs. Loan avail from ICICI for some purpose like buy a house, build a house, or renovate and redecorate your current room. The processing fee on an ICICI Bank home loan starts at up to 1.00%. Pradhan Mantri Awas Yojna, ICICI Home Loan Balance Transfer, ICICI Home Loan Top up are some of the most common home loan products provided by ICICI.
ICICI Bank Home Loan Schemes:
ICICI - PMAY: ICICI Bank offers The Pradhan Mantri Awas Yojana to economically weaker segments, lower-income classes, and middle-income groups. These segments are eligible for an interest subsidy of up to 2.67 lakhs and home loans with terms up to 20 years.
ICICI Home Loan Balance Transfer: Current home loan borrowers who have taken out a home loan from another bank can transfer their loan to ICICI, which offers a low interest rate, low processing fees, and a quick balance transfer process.
ICICI Home Loan Top: The ICICI home loan top-up product helps customers with current home loans to borrow extra funds to meet their financial needs. The ICICI home loan top-up needs limited paperwork and includes the option of taking out an overdraft.
ICICI Land Loan:
- A loan to purchase land for the purpose of constructing a residential property.
- Within two years of the disbursement date, construction should be completed.
- The interest rate is reasonable and comparable to that of traditional home loans.
- The value of a land loan will range from Rs. 8 lakh to Rs. 3 crore.
- The ICICI Land Home Loan has a maximum term of 20 years.
- The applicant's age should be between 25 and 65 years old.
- Both salaried and self-employed people are eligible to apply.
ICICI Home Loan Interest Rate 2021:
ICICI provides home loans to both salaried and self-employed borrowers. Interest rates are vary by occupation loan amount and property type. ICICI's current lowest home loan rate for salaried borrowers is 6.75 %, while the lowest home loan rate for self-employed borrowers is 6.90 %.
|
ICICI Home loan schmes |
Interest rate for salaried |
ICICI Interest rate of self-employed |
|
ICICI Home Loan |
6.75% |
6.90% |
|
ICICI Home Loan Top up |
6.75% |
6.90% |
|
ICICI Land Loan |
8.90% |
8.90% |
|
HOME IMPROVEMENT LOAN |
6.75% |
6.90% |
|
ICICI Home Loan Balance Transfer |
6.75% |
6.90% |
Features and Benefits of an ICICI Home Loan:
- EMI as low as 662 per/lakh*
- Simplified Disbursement
- Minimum Documentation.
- With the Track my loan Application feature on ICICI Bank's official website, you can keep track of your loan application status online.
- Take advantage of competitive interest rates for various categories .
Documents Required for ICICI Home Loan :
|
Documents Required |
Salaried |
Self-employed |
|
Identity proof: |
Passport, PAN Card, Aadhar Card, Driving Licence. |
Passport, PAN Card, Aadhar Card, Driving Licence. |
|
Residence Proof: |
Passport, Aadhar Card, Driving Licence, Ration Card, Registered Rent Agreement, Latest Electricity Bill. |
Passport, Aadhar Card, Driving Licence, Ration Card, Registered Rent Agreement, Latest Electricity Bill. |
|
Income proof |
Last 3 months Salary slips.Last 6 Months Bank Statements. Income Tax returns + Form 16 issued by the employer for previous 2 years
|
Last two years' IT returns For company owners, financial statements include: Profit & Loss (Balance Sheet) Audited statement. GST registration certificate. |
