ICICI Bank Home Loan
- Interest Rate
- 10.75%
- Pre payment charges
- NIL - 4% + applicable Service Tax & Surcharge on full prepayment
- Balance Transfer Charges
(incase of refinance) - 2%
- Part-payment Charges
- Nil
- Switching Charges
(Fixed to Floating or vice-a-versa) - 1.75% on principal oustanding
- Loan to Value ratio
- 80%
- Speed of Sanction
- 7 working days
- Ease of documentation
- Pre- Approved projects only. Less Documentation
- Customer Service
- Good
- Franking Charges
- 0.2%
Features and Benefits of ICICI Bank Home Loan
Features:
- Home loan amount depends on repayment capability, and is restricted to a maximum of 80% of cost of property or cost of construction.
- Loan repayment period is up to 20 years.
- Insurance options for your home loan at attractive premium
- Simplified documentation
- Regular guidance & help available throughout the process
- EMI payment starts from the month after full disbursement has been made
Eligibilty :
- Home loans are available to salaried or self-employed who can be a resident of India or NRI.
- A person can be 21 years of age for applying home loan & it must terminate before the borrower turns 65 years.
- It is must for the borrower to be employed or self-employed with a regular source of income.
Charges:
- Loan processing charges: 0.50%- 1% of the loan amount
- Prepayment Charges: 2% to 4% of the loan amount +applicable service tax & surcharge on full repayment.
- Late payment Charges: 2% per month, Home loan OD: 1.5% of outstanding amount subject to minimum of Rs 500/-& maximum of Rs 5000/-.
- Switching Charges: 1.75% on principal outstanding.
- Cheque Swap Charges: Rs 500/-
- Document Retrieval Charges: Rs 500/-
- Cheque Bounce Charges: Rs 200/-
- Amortization Schedule: Rs 100 per schedule
- Statement of Account: Rs 100 per statement
- Final prepayment statement: Rs 100 per statement
- Duplicate No objection Certificate: Rs 100
- Revalidation of NOC: Rs 100 per NOC
Interest Rate:
- ICICI bank offers home loan on floating rates on basis of 9.50%.
|
Amount |
Interest rate (%) |
|
Upto 20 lakh |
10.25 |
|
Above 20 to 30 lakh |
10.5 |
|
Above 30 to 75 lakh |
10.75 |
|
Above 75 lakh |
11 |
- Fixed interest rates are available for 14.5% p.a. for loan amount up to Rs 2500000.
Documentation:
Salaried
- Last 3 months' salary slips
- Form 16
- Bank Statement for last 6 months from salary account
- Repayment details on any existing loans or loan closure letter
Self-Employed
- Income Tax Return / Computation of Total Income / Auditors Report / Balance Sheet / Profit & Loss Account certified by Chartered Accountant for last 2 years (3 years for Home Equity) (both for business and personal of partners/directors)
- Bank Statement for last 6 months from operating account
- Repayment details on existing loans or loan closure letter
- Board Resolution in case of a company
- Proof of existence of the business entity
- Proof of Office Address
- Photo Identity Proof, Residence Address Proof, Signature Verification must be provided for all the main partners / directors
Documents Required for ICICI Bank Home Loan
Salaried Individual
|
|
Self Employed
|
|
User Reviews
- Product Rating -
Average user rating
- Member's Recomendation
By: Rakesh, Mumbai | 26 October 2009
I took loan from ICICI bank in Dec 2005 at 7.25% floating rate. As the builder asked to pay the whole amount in 7 days, I had no option but go to ICICI. (Only ICICI could give the loan in 7 days). I w...[Read]
- Product Rating -
Average user rating
- Member's Recomendation
ICICI bank is very fast a easier loan provider compare to other Banks.
By: pradeep, Mumbai | 22 March 2010
ICICI bank is very fast a easier loan provider compare to other Banks. ...[Read]
- Product Rating -
Average user rating
- Member's Recomendation
-
very flaxibel & fast process in home loans
By: Kumar, Ahemdabad | 20 March 2010
very flaxibel & fast process in home loans.large & fastest salution customer care & all customer care is in hube location. ...[Read]
- Product Rating -
Average user rating
- Member's Recomendation
-
see how one can survive with this bank
By: Rameshwar Rai, Kolkata | 18 March 2010
I\\\'d taken ICICI home laon in year 2005 @ 7.5%, with installment of Rs. 5434/- now I\\\'m paying Rs. 8909/m, as per statement received I\\\'d paid Rs.93189/- during the year out of which Rs.89487/- ...[Read]
- Product Rating -
Average user rating
- Member's Recomendation
-
save ordinary citizen who or in there clutches of HOME LOAN
By: Nirmal, Mumbai | 18 March 2010
The most horrible bankers and there services............ they or cheating public in day light....... govt of india and banking association must do something to save ordinary citizen who or in there cl...[Read]
- Product Rating -
Average user rating
- Member's Recomendation
-
My executive really deserves to say HUM HAI NAA
By: Sridhar, Mumbai | 17 March 2010
Unlike others, I had a great service from ICICI HFC. The speed at which my documents were processed was amazing. I expressed my desire to obtain a Home loan for 30 laksh to the call centre.The second ...[Read]
- Product Rating -
Average user rating
- Member's Recomendation
-
I realised that our A/C No. should not be disclosed to any one
By: Thandava59, Mumbai | 15 March 2010
Dear all ICICI Home Loan A/C holders,I, Ch.Thandava Krishna, taken the home loan on June 2007. Since that day onwards my repayments are regular. Jan.09 & Feb. 09(two months) my ECS chqs(19,511/-).were...[Read]
- Product Rating -
Average user rating
- Member's Recomendation
-
ICICI Bank is charging different floating interest rates to its new and existing customers
By: Bagla27, Mumbai | 14 March 2010
ICICI Bank is charging different floating interest rates to its new and existing home loan customers. When interest rates went up, ICICI Bank immediately increased the floating interest rates for its ...[Read]
- Product Rating -
Average user rating
- Member's Recomendation
-
I C I C I wants thier loan customers as bonded labours
By: zvijayin, Mumbai | 13 March 2010
I C I C I wants thier loan customers as bonded labours. The day i took the home loan from them i have seen them increasing the loan from day 1 .. This is crazy they immmediatly respond and increase th...[Read]
- Product Rating -
Average user rating
- Member's Recomendation
-
after getting loan we have no option except to pay
By: pawan ghambir, Mumbai | 12 March 2010
Sir,I have taken Home loan from ICICI Housing Finance. Desided rates were floating rate of interest as per RBI norms. But after taking loan bank is charging atleast 1% to 2% extra every month over and...[Read]
- Product Rating -
Average user rating
- Member's Recomendation
-
it might be another satyam in indian banking sector
By: ramana, Mumbai | 10 March 2010
Please do not trust ICICI bank - The reasons.1. When i took home loan in 2005 the floating rate of interst was 7.5% and par with any other leading private banks - now see ICICI charging interest at 13...[Read]
- Product Rating -
Average user rating
- Member's Recomendation
-
ICICI is slapping me with a 2.25% pre closure charges
By: gitesh, Mumbai | 09 March 2010
Greetings.Post the complaint earlier to Rajeev Sabharwal - COO of ICICI Home Finance and the addressal of the same, ICICI has chosen to continue its non-customer friendly ways. My loan has not seen re...[Read]
- Product Rating -
Average user rating
- Member's Recomendation
-
ICICI bank\\\'s home loans are extremely frustrating
By: prabhakar, Mumbai | 07 March 2010
ICICI bank\\\'s home loans are extremely frustrating.When RBI increased the loan %, they increased immediately but now when RBI has reduced the home loan %, ICICI bank says they will not reduce for ex...[Read]
- Product Rating -
Average user rating
- Member's Recomendation
-
they just want money and switch fee to change to lower interest rates
By: apatel, Mumbai | 05 March 2010
Hello Everypone,I am an ICICI home loan customer. I went for the loan during 2005 at 8.25% of floating rate of interest. Then ICICI did increase the % of both fixed and floating interest rates and tod...[Read]
- Product Rating -
Average user rating
- Member's Recomendation
-
THIS BANK IS LOOKING LIKE A PARASITE
By: raja guru g, Mumbai | 03 March 2010
ON THE ABOVE SUBJECT WHOM CAN WE APPROACH?THIS IS UNJUSTIFIED APPROACH FROM ICICI HOME LOAN DEPARTMENT, WHY THESE PEOPLE SIMPLE EXTRACTING MONEY IN TERMS OF INTEREST COMPARE TO OUR NATIONALIZED BANKS....[Read]
- Product Rating -
Average user rating
- Member's Recomendation
-
there is no relation to the rate of interest you take the loan at
By: glass, Mumbai | 01 March 2010
I have taken a Home Loan from ICICI Bank and found they have hopeless systems. While they duly charge the customer for the smallest of delays from the customer’s side, they take all their servi...[Read]
- Product Rating -
Average user rating
- Member's Recomendation
-
bank is very prompt in deducting EMI.
By: pvrajeev68, Mumbai | 28 February 2010
I have taken loan of 10 lakhs from ICICI in year 2003 at the floating rate of 7.25%. Now it has gone up to 10.25%.My collegue who has taken loan at the sametime from HDFC at the floating rate of 7.5% ...[Read]
- Product Rating -
Average user rating
- Member's Recomendation
-
public sector banks there are no hidden costs and additions after the loan is sanctioned.
By: septemberblues, Mumbai | 27 February 2010
I called up ICICI Home Finance in Jun 2004 and their agent visited me in the next few days and collected the necessary documents to assess my eligibility and the amount of loan that could be given.Nex...[Read]
- Product Rating -
Average user rating
- Member's Recomendation
-
big pain in transfering this loan to govt bank and paid 17,70,000 at the end to ICICI
By: pr_chary, Mumbai | 26 February 2010
Hi,i am victim of the ICICI home loan. Today 9th Dec 2009 they came up with the attractive interest rate of 8.25%. Friends it is a big trap that ICICI trying to do. Neverever believe in ICICI home loa...[Read]
- Product Rating -
Average user rating
- Member's Recomendation
-
ICICI keeps on increasing our EMI and tenure
By: aparna masal, Mumbai | 25 February 2010
My husband has taken a home loan of Rs.700000/- for 20 years tenure in floating interest rate. ICICI keeps on increasing our EMI and tenure also. 10 days before we received letter from ICICI that they...[Read]
- Product Rating -
Average user rating
- Member's Recomendation
-
i had to undergo very delaying and tedious process for approval of loan
By: siddhartha s. banaulikar, Marigoan | 23 February 2010
On 08/08/08, i had taken my home loan file from Shiv Tower office, Panaji, Goa of ICICI home loans as i had to undergo very delaying and tedious process for approval of loan. They wanted my mother to ...[Read]
- Product Rating -
Average user rating
- Member's Recomendation
-
By: Anish, India | 16 November 2010
I took an ICICI home loan in Mumbai for 12.96 lacs for 10 years during early 2006 for 7.25% floating. Till today I have paid back 8.2 lacs.I am now closing this loan by paying this stupid bank 10.6...[Read]
- Product Rating -
Average user rating
- Member's Recomendation
-
Think twice before you go to ICICI home loan
By: Nagabhushan, India | 27 June 2011
If you look any website for rate of interest for home loan in icici they say it is 10% they will increase gradually now i am paying 13.25% Think twice before you look for ICICI. Below is the email fo...[Read]
- Product Rating -
Average user rating
- Member's Recomendation
-
- Product Rating -
Average user rating
- Member's Recomendation
-
Ask the Expert
Having difficulties with your existing credit card? have so many problems but no one to answer them?
Our experts will give you unbiased advise free from any sales intent.
Ask our experts and get your problem solved:
Home loan companies
Select by benefits
-
Home loan
Home loans India Home loan interest rates SBI home loan HDFC home loan Home loan bank India Home loan EMI calculator -
Personal loan
Personal loan India Personal loan bank Personal loan interest rate Personal loan EMI calculator SBI personal loan HDFC personal loan -
Credit card
Credit card India Credit card bank India Apply credit card online SBI credit card ICICI credit card HDFC credit card -
