Home Loan Repayment Options

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ICICI Bank offers convenient repayment options to its customers. Following repayment options are being offered currently

 

For a fully disbursed loan

EMI: An EMI refers to an equated monthly instalment. It is a fixed amount which you pay every month towards your loan. It comprises of both, principal repayment and interest payment.

 

Flexible Loan Instalment Plan (FLIP): FLIP is a repayment facility, given when incomes are going to reduce after a certain time period during the loan tenure due to one of the borrowers retiring before the loan maturity.

 

For a partly disbursed home loan

Pre-EMI: Where you have availed only a part of the loan, you would be required to pay us only the interest on the amount disbursed till the full loan is availed. This interest is called pre-EMI interest (PEMI) and is payable monthly till the final disbursement is made, after which the EMIs would commence.


EMI Under Construction: EMI Under Construction is offered for structuring a home loan to enable individuals to commence their EMI in a partly disbursed under construction project. Commencement of EMI ensures re-payment towards principal amount leading to savings in interest and faster repayment of the loan. EMI under construction can be paid either on part disbursed amount or on sanctioned loan amount.