With us, you have an option of availing loans either on the basis of floating rates or fixed rates.

What is noteworthy is that you can switch anytime from floating rate to fixed rate, on payment of a switching fee of 1.5% of the outstanding loan. You can also switch from fixed rate to floating rate on payment of a switching fee of 0.5% of the outstanding loan.

As you can see, with us you enjoy complete flexibility on interest structuring.

Floating Rate Home Loan Installment calculator

Under floating rates, the interest rate is reset at the beginning of every quarter, i.e 1st January, 1st April, 1st July and 1st October. The rate is reset with reference to the ICICI Home Loan Prime Lending Rate, prevailing as on the dates of the respective resets.

Upon the rate getting reset as above, you have an option of either adjusting your loan installment or the loan tenure, subject to the overall restrictions on the loan tenure.

Fixed Rate Home Loan Installment calculator

Under the fixed rate option, the interest rate remains fixed over the entire tenure of the loan.