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HOME LOAN

Getting a home loan from ICICI Bank is quick and easy. We offer higher eligibility and lower EMIs at attractive interest rates.

Moreover, application processing through our TABLET and Smart phone applications ensures faster approval of your home loan.

 

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Preapproved Home Loan

Make your dream home a reality with ICICI Bank pre-approved home loans. Please click here to check your pre-approved home loan offer.

Pre-approved Home Loan offers are extended to selected existing customers of ICICI Bank. Existing customers also get the benefit of reduced documentation.

 

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Pradhan Mantri Awas Yojana

Pradhan Mantri Awas Yojana

ICICI Bank is pleased to offer "Credit Linked Subsidy Scheme" for EWS and LIG categories under Pradhan Mantri Awas Yojana. The scheme was announced by our honourable Prime Minister Narendra Modi and envisages the vision of housing for all by the year 2022.

 

Affordable Home Loans at effective rates as low as 5.11% per annum

Calculated on a loan amount of Rs. 25 lakh for a first-time home buyer with an annual family income of Rs.15 lakh and rate of interest of 9.05% per annum considering subsidy of Rs. 2.30 lakh under Pradhan Mantri Awas Yojana (PMAY). The effective interest rate may vary based on the loan amount, PMAY subsidy and applicable income tax slab. The effective rate is applicable for the first year only.

 

E.g. If your annual family income is Rs. 15 lakh and you avail a home loan of Rs. 25 lakh from ICICI Bank with Credit Linked Subsidy Scheme (CLSS) of PMAY, then you would receive a subsidy of Rs. 2.30 lakh. Also on your above income, you would be able to avail income tax benefit of Rs. 72,244 for a year. Therefore, though the interest rate applied to your loan account is 9.05% per annum, the effective interest rate would be 5.11% p.a. for the first year considering the above benefits.

 

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Pradhan Mantri Awas Yojana
ICICI Bank Step Up Home Loans

ICICI Bank Step Up Home Loans

ICICI Bank Step Up Home Loans

ICICI Bank Step Up Home Loans, a home loan for spacious living for young salaried borrowers.

 


Balance Transfer

Balance Transfer

Lower your EMI burden and save money by transferring your existing home loan to ICICI Bank.

 


Balance Transfer
Loan Against Property

Loan Against Property

Loan Against Property

Unlock the value of your property to avail funds for your personal and business requirements.

Loan Against Property is available at an attractive rate of interest, which makes it easy to be repaid through comfortable EMIs over as many as 15 years. Click here to know more.

 


Top Up loan on your Home Loan

Top Up loan on your Home Loan

Planning to redecorate your home or thinking of funding your child’s higher education or simply wanting to take that dream vacation, a top-up loan on your existing Home Loan could be the perfect solution.

 


Top Up loan on your Home Loan

Frequently Asked Questions (FAQs) for Home Loan

How do I apply for a Home Loan?


You can apply for ICICI Bank Home Loan through our website www.icicibank.com or visit the nearest ICICI Bank branch.

How is Equated Monthly Instalment (EMI) of Home Loan calculated?


Banks and financial institutions, in general, calculate Equated Monthly Instalment (EMI) of a Home Loan through a common mathematical formula. Hence, EMI is calculated basis loan amount, tenure and interest rate. Bank will take the outstanding loan amount at the end of each month and multiply it by the interest rate that applies to your loan, then divide that amount by 12. To calculate Home Loan EMI, click here.

What is a Home Loan?


Funds provided to an individual / entity for purchase construction extension or renovation of a residential property is called a Home Loan.

What are the documents required for applying for a Home Loan?


Documents required for applying for Home Loan are loan application form, address proof, identify proof and your financial documents. To know more, click here.

What are the parameters for arriving at Home Loan eligibility?


Home Loan eligibility is calculated after considering various factors including monthly income, fixed monthly obligation, current age, retirement age, etc. Your Home Loan eligibility can also be considered as an indicator of your Home Loan affordability. To check your eligibility, click here.

What do you understand by floating rate of interest in Home Loan?


Under floating rate of interest, loans are linked to benchmark rate. Hence, whenever bank increases or decreases the benchmark rate, the interest rates of the loans will fluctuate and accordingly the EMI or tenure of the loan will increase or decrease.

What do you understand by fixed rate of interest in Home Loan?


A fixed rate of interest on a loan would mean that the interest rate of the loan would remain fixed throughout the tenure of the loan and hence, the EMI of the loan would remain fixed.

Is there any tax benefit available on Home Loans?


Yes, you can claim deductions in your income tax return against principal and interest payments that you make towards repayment of your Home Loans. The type and amount of income tax deduction available against repayment of Home Loan is governed by applicable Income Tax Laws of Government of India.

Customer Reviews

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knowing iWish
by Menoka Chatterjee on Aug 19, 2019

Very very interesting. Perhaps the only bank offering this amazing flexibility.

Home Loan With Low Rate Great Exp
by ABHI farende on Jul 12, 2019

I got a home loan with lowst int rate by 10%, I within few days and documentation

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