ICICI Home Finance (ICICI HFC) Home Loan


ICICI Home Finance Company Limited provides home loans ranging from Rs 3 lakh to Rs 5 crores at interest rates starting from 9.20% per annum for repayment periods of up to 25 years. They offer affordable home loan schemes tailored for both salaried and self-employed individuals, including those who may not have income proof documents. Under the PMAY scheme, eligible applicants can benefit from a subsidy of Rs 2.67 lakh. ICICI Home Finance aims to disburse home loans within 72 hours, providing quick and efficient service to its customers.

ICICI Home Finance Home Loan Highlights
Interest Rate 9.20% p.a. onwards
Loan Amount Rs 3 lakh – 5 crores
Tenure Up to 25 years
Processing Fees 0.75%-3%

Pre Approved Home loan | Check Eligibility & Apply Online

Table of Contents
Comparison of ICICI Home Finance Interest Rate vs. Other Lenders
Interest Rates
Types of ICICI Home Finance Home Loans
Processing Fees & Charges
Eligibility Criteria
Documents Required
EMI Calculator
FAQs

Compare Interest Rates on Home Loans for Top Banks & HFCs

Name of Lender Up to Rs. 30 Lakh Above Rs. 30 Lakh to Rs. 75 Lakh Above Rs. 75 Lakh  
SBI Bank 8.40% - 10.15% p.a. 8.40% - 10.05% p.a. 8.40% - 10.05% p.a. Apply Now
HDFC Bank Limited 8.40% p.a. onwards 8.40% p.a. onwards 8.40% p.a. onwards Apply Now
Kotak Mahindra Bank 8.70% p.a. onwards 8.70% p.a. onwards 8.70% p.a. onwards Apply Now
ICICI Bank 8.75% p.a. onwards 8.75% p.a. onwards 8.75% p.a. onwards Apply Now
Federal Bank 8.80% p.a. onwards 8.80% p.a. onwards 8.80% p.a. onwards Apply Now
L&T Finance Limited 8.60% p.a. onwards 8.60% p.a. onwards 8.60% p.a. onwards Apply Now
Bajaj Housing Finance 8.50% p.a. onwards 8.50% p.a. onwards 8.50% p.a. onwards Apply Now
LIC Housing Finance 8.35% - 10.35% p.a. 8.35% - 10.55% p.a. 8.35% - 10.75% p.a. Apply Now
PNB Housing Finance 8.50% - 14.50% p.a. 8.50% - 14.50% p.a. 8.50% - 11.45% p.a. Apply Now
Punjab National Bank 8.45% - 10.25% p.a. 8.40% - 10.15% p.a. 8.40% - 10.15% p.a. Apply Now
Bank of Baroda 8.40% - 10.65% p.a. 8.40% - 10.65% p.a. 8.40% - 10.90% p.a. Apply Now
IDFC First Bank 8.75% p.a. onwards 8.75% p.a. onwards 8.75% p.a. onwards Apply Now
Tata Capital Housing Finance 8.70% p.a. onwards 8.70% p.a. onwards 8.70% p.a. onwards Apply Now
Axis Bank 8.70% - 13.30% p.a 8.70% - 13.30% p.a 8.70% - 9.10% p.a. Apply Now
Godrej Housing Finance 8.55% p.a. onwards 8.55% p.a. onwards 8.55% p.a. onwards Apply Now

Also read: Best Home Loan in India

 

ICICI HFC Home Loans Interest Rates 

Fixed-Rate Home Loans

Applicant Type Interest Rate
For Self-employed Applicants 11.15% p.a.
For Salaried Applicants 11% p.a.

Floating-Rate Home Loans

Loan Type Interest Rate
Regular Home Loan

For salaried- 9.20% p.a. onwards

For self-employed- 9.35% p.a. onwards
Apna Ghar

For salaried- 11.50% p.a. onwards

For self-employed-12.25% p.a. onwards

Types of ICICI Home Finance (ICICI HFC) Home Loans

New Home Loan

Purpose: Home loans are available for both salaried and self-employed applicants.

Loan Amount: Rs 3 lakhs- 5 crores

Tenure: The repayment tenure can extend up to 25 years, with a maximum age limit of 60 years for salaried individuals at the time of loan maturity or retirement, and 70 years for self-employed applicants.

Processing Fees: 0.75% of the loan amount or Rs 11,000 plus applicable taxes

Home Loan Balance Transfer

Purpose: ICICI Home Finance provides the option for individuals to transfer their existing home loans from other banks and Housing Finance Companies (HFCs) to ICICI Home Finance, offering lower interest rates.

Loan Amount: Rs 3 lakh to Rs 5 crores

Tenure: Up to 25 years

Processing Fees: 0.75% of the loan amount

Apna Ghar Home Loan

Purpose: ICICI Home Finance offers an affordable housing loan scheme for both salaried and self-employed applicants, which includes the benefit of Pradhan Mantri Awas Yojana’s (PMAY) subsidy of up to Rs 2.67 lakh.

Loan Amount:

  • Up to Rs 20 lakh for salaried
  • Up to Rs 50 lakh for self-employed
  • Processing Fees: 1% of the loan amount + GST @ 18%

Plot Loan

Purpose: ICICI Home Finance provides loans to both salaried and self-employed individuals for purchasing a plot of land intended for the construction of a house.

Loan Amount: Up to Rs 1 crore

Processing Fees: 0.75% of the loan amount or Rs 11,000

Home Improvement Loan

Purpose: ICICI Home Finance offers home loans for carrying out home repairs and renovations.

Loan Amount: Rs 3 lakh to Rs 5 crores

Tenure: Up to 20 years

Processing Fees:  0.75% of the loan amount or Rs 11,000

Apna Ghar Dreamz

Purpose: ICICI Home Finance offers affordable home loans tailored for individuals who may lack income proof documents. Additionally, these loans come with the benefit of Pradhan Mantri Awas Yojana's (PMAY) subsidy, providing assistance of up to Rs 2.67 lakhs.

Loan Amount:

  • Salaried: Rs 2 lakh- 20 lakh
  • Self-employed: Rs 2 lakh- 30 lakh (up to Rs 50 lakh in Delhi/Mumbai)

LTV Ratio: Up to 80% of a Home’s market value

Tenure: Up to 20 years

Top-up Home Loan

Purpose: ICICI Home Finance offers the option to arrange finance for any personal or business requirements during the tenure of the home loan.

Loan Amount: Up to Rs 1.5 crores

Tenure: Up to 20 years

Processing Fees: 0.75% of the loan amount or Rs 11,000

Insta Top-up Home Loan

Purpose: ICICI Home Finance provides additional loans over and above the existing home loan to meet the financial needs of both existing home loan and non-housing loan borrowers.

Tenure: Up to 10 years

Loan Processing Time: within 72 hours

Also Read : Best Home Loan EMI Calculator

 

ICICI Home Finance (ICICI HFC) Home Loan Fees and Charges

Charges Home Loans
Processing Fees 0.75%-3%
Pre-payment charges NIL
Charges for pre-payment statement Rs 500 plus applicable taxes
Copy of original documents Rs 1,000 plus applicable charges
Charges for the swap of property Rs 10,000 plus applicable taxes
Charges for a statement of account Rs 100 plus applicable taxes
Charges for amortization schedule Rs 100 plus applicable taxes
List of documents Rs 500 plus applicable taxes
Penalty for delayed payment 2% per month plus applicable taxes
Repayment mode swap charges Rs 1,000 plus applicable taxes
Charges on non-submission of PDC/NACH Mandate Form for EMI payment, per transaction Rs 2000 plus applicable taxes
Charges for duplicate NOC/No dues Rs 500 plus applicable taxes
ECS/Cheques/NACH dishonor charges Rs 500 or other amount specified by IHFC plus applicable taxes
Conversion charges 0.50% for housing loans, 1% for the non-housing loans plus applicable charges

Also read: Best Home Loan Fees and Charges

Eligibility for ICICI Home Finance (ICICI HFC) Home Loans

Age:

  • Salaried: 23-60 years of age for Indian residents; 25-60 years of age for NRIs
  • Self-employed: 28-70 years of age

Nationality:

  • Salaried: Indians residing in India and NRIs
  • Self-employed: Indians residing in India

Income:

  • Salaried: Minimum monthly income of Rs 12,000
  • Self-employed: Minimum annual income of Rs 1.5 lakh (after tax deduction)

Co-applicant:

  • Salaried/Self-employed: The co-applicant's age should be between 18 and 65 years for both salaried and self-employed applicants.

Also Read : Best Home Loan Eligibility

Documents Required for ICICI Home Finance (ICICI HFC) Home Loan 

For Salaried Individuals:

  • Duly filled and signed application form
  • Last 2-month salary slips, 3 months bank statement, and Form 16
  • Documents related to the property (if finalized)
  • Residence and ID proofs for KYC, such as Aadhaar card, PAN card, voter ID, or job card issued by NREGA

For Self-employed Individuals/Non-individuals:

  • Property documents
  • ID and residence proofs for KYC
  • Completely filled and signed application form
  • Latest 2 income tax returns, 6 months bank statement, and latest 2 years balance sheet (with schedules) and P&L accounts

Also Read : Best Home Loan Documents Required

Frequently Asked Questions

Yes, it's possible to get your bike financed even as a student if you meet the specific eligibility criteria set by the lenders.

The best loan for financing your bike or scooter is the one with the lowest interest rate. This way, you'll have to pay less in monthly installments (EMIs) throughout your loan term.

To get financing for your motorcycle, bike, or scooter, you can easily apply for the loan online from home. Or, if you prefer, you can go directly to a bike shop and apply for the loan there by giving them the documents they need

You can check your loan status online through internet banking. Another option is to visit the closest branch of the bank or financial institution that's providing the loan.

Many lenders consider a credit score of 620 and above to be good when giving out loans for motorcycles, superbikes, or scooters. However, if your credit score is lower than 620, you can still find lenders who may be willing to give you a loan, although they might charge a higher interest rate.

Banks allow you to make prepayments after successfully paying 3-6 EMIs. Depending on the number of EMIs you've already paid, there might be a small fee applicable on the outstanding amount when you choose to prepay.