Important Information


1% Cashback


1% Cashback offering is available for all home loan sanctions done till September 30, 2013 subject to first disbursement being availed before October 31, 2013.
1% Cashback is offered on every EMI (excluding Pre-EMIs) for the entire tenure of the loan i.e. on a home loan of 50 lakh at 10.65% rate of interest for a tenure of 20 years you save over 3,50,000 (Adjustment against principal outstanding)
1% Cashback is available with both floating rate home loans as well as renewable fixed rate home loans.
Cashback benefit will be provided depending upon the mode of Cashback selected i.e.
Credit to ICICI Bank account or Adjustment against principal outstanding towards home loan
Under Credit to ICICI Bank account, the benefit of Cashback will be credited to the ICICI Bank account only
Under Adjustment against principal outstanding, the benefit of Cashback will be adjusted against the principal outstanding. The reduction in principal amount will result into reduction in tenure without any change in EMI
Customers will be eligible for first Cashback only after completion of first 36 EMI months. Subsequently, 1% Cashback will be credited after every 12 EMI months for the EMIs paid in the preceding 12 months
In the event there are any outstanding dues on the part of the customer with respect to the payment of EMI, at the time of computation of Cashback by ICICI Bank (i.e. at the end of first 36 EMI months /thereafter 12 EMI months), the customer shall become ineligible to claim the Cashback benefit even if the overdue EMIs are paid later. However, the ineligibility shall not continue for entire tenure of the facility. For instance, if the Cashback was to be paid by ICICI Bank to the customer on December 31, 2012 for preceding 12 months and if there are outstanding dues against the customer at the time of computation of Cashback benefit by ICICI Bank, the customer shall be ineligible to Cashback benefit only for this time period and not for future Cashbacks
The 1% Cashback does not apply to pre-payments
The Cashback facility shall cease on closure of the facility by the customer and in the event the facility is closed prior to completion of 12 months post which Cashback is paid, the Cashback shall be computed on the sum of total amount of EMIs paid during that time period i.e. time period beginning from the payment of last Cashback till the closure of the facility by the customer
Cashback benefit will be paid to the customer post adjusting any statutory dues or overdue charges in the loan account
This Cashback benefit cannot be clubbed with any other offer
The said offer is non-transferable, non-binding, non-encashable and non-negotiable
ICICI Bank reserves the right, at any time, without prior notice and without assigning any reason whatsoever, to add/alter/modify/change or amend all of these terms and conditions or to replace, wholly or in part, this Cashback offer by another offer, whether similar to this offer or not, or to extend or withdraw it altogether.

Renewable Fixed Interest Rate


Renewable fixed rate home loan is available only for new home loan customers
Post completion of initial fixed rate tenures of 2/3/5 years, the loan would convert to floating rate decided on the prevailing ICICI Bank Base Rate (I-Base) at that point of time plus the margin decided at the time of sanction of the loan
Customers can avail renewable fixed interest rate for 2/3/5 years at a zero conversion fee within 30 days post completion of initial fixed rate tenure decided on the prevailing ICICI Bank Base Rate (I-Base) at that point of time plus the margin decided at the time of sanction of the loan. In case the request for availing renewable fixed interest rate is made by the customer after 30 days, the customer shall be levied with applicable conversion fee.