Starting at 9.00% p.a., ICICI Bank offers home loans with maturities of up to 30 years. Additionally, it offers pre-approved quick home loan sanction and home loan balance transfer options to salary account users at lower interest rates. Through the ICICI Bank Pratham Housing Loan Scheme, self-employed borrowers with a minimum five-year firm history and salaried applicants generate at least Rs. 10,000 per month can both obtain affordable housing loans. In addition, ICICI Bank offers ICICI Bank Extra Home Loans, a special home loan program backed by Mortgage Guarantee, with the aim of extending the loan term till the borrower becomes 67 and so increasing the loan amount eligibility of the borrower.
The highlight of the ICICI Bank Home Loan:
| Interest Rate | 9.00%-10.05% |
| Amount | Based on Eligibility |
| Duration | Up to 30 Years |
| Processing Charges | 0.5% |
Slab and Floating Interest Rates for Salaried and Self-Employed(p.a.)
Slab | Floating Interest Rates | |
| For Salaried | For Self-Employed | |
| Up to 35 lakhs | 9.25% – 9.65% | 9.40% – 9.80% |
| From 35 to 75 lakhs | 9.50% – 9.80% | 9.65% – 9.95% |
| More than Rs. 75 lakhs | 9.60% – 9.90% | 9.75% – 10.05% |
Types of ICICI Bank Home Loan:
- House Loan: Regular home loans for a new home’s acquisition or construction are used for this and up to 20 years tenure.
- Instant Home Loan (Pre-approved): The ICICI pre-approved home loan facility with rapid approval is made available to people who have ICICI Bank payroll accounts. Up to Rs. 3 crore is the value and for a tenure period of 30 years.
- Express Home Loan: To obtain home loans quickly through online application, efficient processing, and digital sanction. For a period of six months from the date of issuance, the provisional sanction letter is still in effect. The maximum loan amount is Rs. 5 crores and for a tenure period of up to 30 years.
- Extra Home Loan: House loan program with the option to extend the applicant’s payback period up until age 67 in exchange for a 20% increase in the house loan amount. A mortgage Guarantee is used to support the increased loan amount and payback term. The maximum loan amount is up to Rs. 2 crores and the tenure is up to 67 years of age of the borrower.
- Pratham Home Loan: Offers home loans for affordable housing to salaried candidates with a minimum monthly wage of Rs, 10,000 and self-employed applicants with a minimum 5-year business history. The amount of the loan is Rs. 5 lakhs to Rs. 50 lakh and the tenure period are up to 20 years.
- ICICI Plot Loan: Plot Loan is available for the acquisition of land or plots of land. The loan amount is up to Rs. 8 lakhs to Rs.3 crore, up to 20 years tenure.
- NRI Home Loan: The purpose of an NRI home loan is to fund the purchase or construction of a home in India by NRI applicants. The tenure period is up to 30 years.