Icici bank home loan interest rate

ICICI Home Loan Processing Fees 0.5% to 2% of the amount of loan or Rs. 3000, whichever is higher + applicable taxes Foreclosure or Prepayment Charges Nil for a Home loan with a floating interest rate Repayment Swap Charges Rs. 500 Document Retrieval charges Rs. 500 Cheque/ECS/AD Charges Rs. 500 CIBIL Report Charges Rs. 50 Which ICICI Home Loan Scheme is Right for You? ICICI brings an extensive range of home loan schemes for salaried professionals and self-employed individuals. The following ICICI Home Loan schemes can be opted for by eligible applicants – 1. ICICI Instant Home Loan • It exclusively provides home loan up to a maximum amount of Rs. 3 crore for applicants having their salary account in the ICICI bank • 0.25% processing fee plus applicable taxes on the borrowed amount • No requirement for submission of documents at the sanction time 2. ICICI Step Up Home Loans • Ideal for young salaried individuals having a moderate income • Loan amount up to 3 crores and tenure up to 20 years. • Minimum requirement of Monthly Income: Rs. 20,000 3. ICICI 30 Year Home Loan • Competitive fixed and floating rates of interest • It provides a maximum repayment tenure of 30 years 4. ICICI NRI Home Loan • Competitive interest rates • Part prepayments are allowed with zero charges • Interest rate calculation: On reducing monthly basis How to Calculate ICICI Home Loan EMI? • Visit the • Enter the desired loan amount • Fill in the preferred maximum loan tenure • Enter the applicable in...

This loan is available for all kinds of housing-related needs such as construction of a new house, buying a new house, reconstruction, amendments, etc. However, it is not available for buying land. While applying for a home loan the applicants were asked to deposit a login fee of INR 5,000, which is not refundable even if the bank declines your application, but now it is not being charged. Both floating and fixed rates of interest are available but now the bank is emphasizing on the floating rate of interest as data for fixed rate has not been provided. Amount Given as Loan by ICICI Bank: Up to INR 7 crore and a minimum of INR 15 lakh (the minimum and maximum amount will depend on various factors). Time Period: Maximum 30 years (this will depend on the age of the person). Moratorium Period: 6 months Prepayment or Foreclosure Charges : Prepayment for home loan with floating rate of interest is nil. Conversion Charges for Home Loan: If Prepayment charges are not applicable in the loan then conversion charges of INR 1000+ GST will be charged. Full Prepayment for Home Loans with Floating Rate of Interest: 2% + GST on principal outstanding on full repayment of home loan. Full Prepayment of Top Up: 2% plus applicable + GST on principal outstanding on full repayment of top up on home loan if the end use is for business purpose. Approval Process Approval process of a home loan is a little different and takes some time. Once an application has been accepted, the bank sends their pe...

*** Private lender ICICI bank, on August 5, 2022, announced a 50-basis-point increase in its repo-rate linked home loan interest rate. With the hike, ICICI Bank home loans will cost a borrower an annual interest of 9.10%, from August 5, 2022, as against 8.60% earlier. The announcement by ICICI Bank was made hours after the Reserve Bank of India raised the repo rate to 5.40% from 4.90%, taking the benchmark policy rate to a 3-year high. Also see: How to check Table of Contents • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • All about ICICI Bank home loan Among the private lenders that offer See also: Loan types: Fixed and floating The private lender offers loans on floating and fixed rates. See also: ICICI Bank home loan interest rate ICICI Bank’s floating rates are linked with the Reserve Bank of India’s (RBI’s) repo rate, the rate at which the banking regulator lends money to scheduled banks. Following a RBI mandate, the bank has linked its loans to the repo rate starting from October 1, 2019. Borrowers must note here that old home loans, where the borrower has not made an application to the bank to switch to the new regime, are linked with old benchmarks such as the marginal cost of funds-based lending rate (MCLR) or base rate. See also: Important facts about ICICI Bank home loan Current interest rate range 9.10% Interest rate for women 9.05% Highest tenure 30 years Shortest tenure 3 years Processing fee 0.50% of the loan amount Highest loan amount Rs 10 cror...