ICICI Bank Home Loan


ICICI Bank provides home loans with interest rates starting from 8.75% p.a. onwards for tenures up to 30 years. Additionally, ICICI Bank offers pre-approved instant home loan sanctions to its salary account holders. It also provides a home loan balance transfer facility, allowing existing home loan borrowers from other lenders to transfer their loans to ICICI Bank at lower interest rates.

ICICI Bank Home Loan Highlights 
Interest Rate 8.75% p.a. onwards
Loan Amount As per the applicant’s eligibility
Tenure Up to 30 years
Processing Fees 0.50%

Pre Approved Home loan | Check Eligibility & Apply Online

Table of Contents
Compare interest rates offered by other lenders
Interest Rates
Types of ICICI Bank Home Loan
Processing Fees & Charges
Eligibility Criteria
Documents Required
FAQs

Compare ICICI Bank Home Loan Interest Rates vs Other Lenders

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 Bank Home Loan Interest Rate

ICICI Bank offers home loan interest rates starting from 8.75% p.a. onwards for pre-approved customers. The bank provides different interest rates depending on factors such as the applicant's credit score, loan amount, and occupation profile.

Special Home Loan Rates

CIBIL Score Salaried Self-employed
>=800 9.00% 9.00%
750-800 9.00% 9.10%

Standard Pricing

Slab Floating Interest Rates (p.a.)
For Salaried For Self-employed
Up to Rs. 35 lakh 9.25% - 9.65% 9.40% - 9.80%
Rs. 35 lakh to Rs. 75 lakh 9.50% - 9.80% 9.65% - 9.95%

Types of ICICI Bank Home Loan

ICICI Bank New Home Loan

Purpose: ICICI Bank provides a New Home Loan scheme for individuals looking to purchase or construct a house or flat.

Tenure: Up to 30 years

ICICI Bank Home Loan Balance Transfer

Purpose: Existing home loan borrowers from other banks and Housing Finance Companies (HFCs) have the option to avail ICICI Bank's Home Loan Balance Transfer facility. This allows them to transfer their existing home loans to ICICI Bank at lower interest rates.

Tenure: Up to 30 years

ICICI Bank Land Loan

Purpose: Consumers have the option to avail ICICI Bank Land Loans to raise funds for purchasing land or a plot for home construction purposes. However, it's important to note that the construction must be completed within 2 years from the date of disbursement of the loan.

Tenure: Up to 20 years

ICICI Bank NRI Home Loan

Purpose: NRI individuals can avail ICICI Bank NRI Home Loan for various purposes such as purchasing, constructing, repairing, or renovating their home in India.

Loan Amount: Up to Rs 5 crore or more

Tenure: Up to 30 years

ICICI Bank Home Loan Overdraft

Purpose: Existing home loan borrowers have the option to avail the home loan overdraft facility provided by ICICI Bank. This feature allows them to deposit surplus funds in the linked overdraft account, up to a predetermined limit, and withdraw money as needed. Importantly, interest is only charged on the amount withdrawn, offering flexibility and potential interest savings.

Loan Amount: Rs 5 lakh-Rs 5 crore

ICICI Bank Insta Home Loan Overdraft (Pre-Approved)

Purpose: Consumers have the option to avail pre-approved digital ICICI Bank Insta Home Loan Overdraft facility, which provides instant access to funds to meet various personal expenses such as education, home renovation, debt consolidation, and other emergencies.

Loan Amount: Up to Rs 1 crore

ICICI Bank Insta Home Top-up Loan (Pre-Approved)

Purpose: ICICI Bank provides Pre-approved Insta Top-up Home Loans to its existing home loan borrowers, offering additional funds over and above their existing home loans. Applicants can apply for this loan digitally through mobile or internet banking. Upon approval, the loan amount is disbursed instantly to the savings account linked to the existing home loan account.

Loan Amount: Up to Rs 1 crore

Tenure: Up to 10 years

ICICI Bank Step Up Home Loans

Purpose: Under ICICI Bank Step Up Home Loans, applicants can access higher loan amounts compared to their eligibility under regular home loans. The repayment schedule is divided into two terms: the Initial or Primary Term, where the borrower pays only the interest, and the Secondary or Balance Term, where the total EMI (including interest and principal) becomes payable. This scheme allows prospective home loan borrowers to increase their loan amount eligibility by up to 20%.

Loan Amount: Up to Rs 3 crore

Tenure: Up to 30 years

ICICI Bank Money Saver Home Loan Scheme

Purpose: ICICI Bank Money Saver Home Loan is a unique home loan overdraft facility. With this feature, applicants can deposit extra funds into their Money Saver account or home loan account and withdraw them as needed. Additionally, ICICI Bank provides a top-up facility under the Money Saver Home Loan scheme.

ICICI Bank Express Home Loan

Purpose: ICICI Bank provides Express Home Loans to both new and select existing customers, allowing them to obtain home loans quickly. With this service, applicants can receive a provisional sanction within a few hours. This provisional sanction enables prospective borrowers to negotiate with sellers or builders before finalizing the property.

Loan Amount: Up to Rs 5 crore

Tenure: Up to 30 years

ICICI Bank Instant Home Loans (Pre-approved)

Purpose: ICICI Bank offers Instant Home Loans, also known as ICICI Pre-approved Home Loans, with instant sanction for individuals who have their salary accounts with ICICI Bank.

Loan Amount: Up to Rs 3 crore

Tenure: Up to 30 years

ICICI Bank Pre-Approved (Instant) Balance Transfer

Purpose: ICICI Bank provides pre-approved instant home loan balance transfer facility to existing customers of other banks and HFCs, allowing them to transfer their existing home loans to ICICI Bank at lower interest rates. The lender issues a sanction letter to the applicant, which remains valid for 6 months.

Loan Amount: Up to Rs 1 crore

Tenure: Up to 20 years

ICICI Bank 24 hours Top-up Loan

Purpose: Consumers have the option to avail ICICI Bank Pre-approved Top-up Loans, also known as "24 hours Top-up Loans," where the bank provides instant sanction on Top-up Loans to its select existing customers. These loans are offered over and above the existing home loans to meet the personal requirements of the applicants, such as travel, wedding, education, home renovation, medical emergencies, and more.

Loan Amount: Up to Rs 1 crore

Tenure: Up to 10 years

Also Read : Best Home Loan EMI Calculator

 

ICICI Home Loan Processing Fees & Other Charges

Particulars Applicable Fees & Charges
Loan Processing Charges / Renewal Charges 0.50%
Repayment mode swap Charges Rs 500
Document Retrieval Charges Rs 500
Cheque bounce charges Rs 500
Duplicate No Objection Certificate / No Due Certificate Rs 100
Revalidation of No Objection Certificate Rs 100
Administrative Charges Rs 5000
CIBIL Report Charges Rs 50
Legal, Repossession and Incidental Charges At Actuals
Charges for late payment

Home Loans: 2% per month

Home OD: 1.5% of the outstanding amount subject to a minimum of Rs. 500/- & Maximum of Rs.5000/-
Prepayment Charges
  • Nil for ICICI Home Loans and ICICI Home Improvement Loans with a floating rate of interest.
  • 2% on the outstanding principal on full repayment for ICICI Bank Home Loans with a fixed rate of interest.
  • 2% on the outstanding principal on full repayment for Top Up Loans if the applicant or co-applicant is Non-Individual.

4% on the outstanding amount of the loan where the loan is given to Non-Individual borrowers or with a fixed rate of interest to Individual borrowers.
Conversion charges for ICICI home loans
  • Floating to Floating: 0.5% of the principal outstanding
  • Dual fixed rate to Floating: 0.5% of the principal outstanding
  • Floating to Dual fixed rate: 0.5% of the principal outstanding
  • Lifetime fixed to Floating: 1.75% of the principal outstanding

Also read: Best Home Loan Fees and Charges

ICICI Bank Home Loan Eligibility Criteria

Age 20 Years
Applicant:
  • Minimum Age: 18 years
  • Maximum Age: 65 years
Co-applicant:
  • Minimum Age: 21 years
  • Maximum Age: 65 years
NRIs:
  • Minimum Age: 25 years
  • Maximum Age: 60 years
Residency Status
  • Resident Indian
  • Non-Resident Indian (NRI)
Type of Employment
  • Salaried
  • Self-employed
  • Self-employed professional

Also Read : Best Home Loan Eligibility

Documents Required for ICICI Bank Home Loan

Here are some of the common documents required for an ICICI Bank Home Loan :

For all applicants:

  • Proof of Identity
  • Proof of Residence
  • Proof of Age
  • Processing fee cheque
  • Application form with a photograph duly signed

For Salaried Individuals:

  • Last 6 months bank statements
  • Last 3 months Salary-slips
  • Form 16 or Income Tax Returns

For Self-employed Professionals/ Self-employed Non-professionals:

  • Identity, residence, and age proof
  • Proof of business existence
  • Last 6 months bank statements
  • 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 or Audited Balance Sheet and Profit & Loss Account

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.