ICICI bank home loan

icici bank home loan banking zoneThe purpose to provide ICICI bank Home Loan is :

1. Purchase/Construction of House/Flat.

2. Purchase of Plot and construction of house thereon

3. Repairs/ improvements/ extension of the existing residential property.

4. Repayment of loan already availed from other banks or financial institutions

 

Basic details of ICICI Bank Housing Loan

 

  • Minimum age of an individual should be 21 years
  • Maximum should be 60 years for salaried person and 65 years for self employed
  • Quantum of loan can be financed is in the range of Rs. 20 Lakhs to Rs. 7 Crore
  • Margin is 10% of the loan amount
  • Maximum tenure for loan repayment is 30 years
  • Processing fee is 0.50% – 2% of loan amount subject to minimum of Rs. 1,500/-

 

 

 

 

 

Rate of Interest for availment of ICICI Bank housing loan

Loan Amount ICICI Repo Rate Home Loan Rate
Upto ₹ 35 Lakh 8.10%
₹ 35 Lakh – ₹ 75 Lakh 8.25%
₹ 75 Lakh – ₹ 5 Cr 8.45%
Above ₹ 5 Cr 8.45%

 

Basic details of ICICI Bank Saral Rural Housing Loan

 

  • Loan is financed for social and economic development of women’s’ and other weaker section of the society
  • Besides construction/purchase of house/flat, it is also provided for repair/renovation or up gradation of rural houses
  • Minimum age of an individual should be 21 years and maximum should be 60 years
  • Loan amount can be avail between Rs. 5 Lakhs to Rs. 15 Lakhs
  • Maximum tenure for loan repayment is 20 years subject to minimum of 3 years
  • Margin is 10% of loan amount
  • Rate of interest is in the range between 9.65% to 10.25%

 

 

 

 

Basic details of ICICI Bank Extra Home Loan

 

  • This type of home loan is available for self-employed and for young as well as middle age salaried individual
  • Salaried individual up to the age of 37 years can avail a 30-year home loan with repayment tenure till the age of 67 years.
  • Salaried individuals above the age of 37 year but below 48 years are also eligible subject to repayment tenure till the age of 65 years
  • By this scheme, you can enhance your previous loan amount by 20%

 

 

 

 

 

Basic details of ICICI Bank Pragati Home Loan

 

  • This scheme is provided for availing home Loan, Home Improvement Loan and Non Resident Premises Loan
  • Salaried individual with a minimum monthly income of Rs. 10,000/- and self-employed with a business experience of 5 year are eligible
  • Salaried individual must have a minimum work experience of 1 year
  • Maximum loan amount can be finance is Rs. 50 Lakhs subject to minimum of Rs. 5 LakhsMaximum tenure for loan repayment is 20 years
  • Rate of interest is in the range between 9.65% to 10.25%

 

 

 

 

 

Document required for the availment of ICICI Bank housing loan

Documents for salaried individuals

  • Filled up loan application form
  • 2 Passport Size Photo
  • ITR of last 2 years
  • Identity Proof – Passport/ Driving Licence/ Voter ID/ PAN
  • Residential Address Proof – Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
  • Income Documents – 6 months’ payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit
  • Property Documents – Past title chain: Conveyance deed, Sales deed, Allotment letter, Possession letter, Latest property tax receipt, Copy of approved plan for construction/ extension

 

Documents for self employed

  • Filled up loan application form
  • 2 Passport Size Photo
  • Identity Proof – Passport/ Driving License/ Voter ID/ PAN
  • Residential Address Proof – Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport
  • Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile
  • Property Documents – Past title chain: Conveyance deed, Sales deed, Allotment letter, Possession letter, Latest property tax receipt, Copy of approved plan for construction/ extension

 

 

 

That’s all for ICICI bank home loan. Thanks for visiting us !

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