Tax implications of purchasing or renting second property
A lot of people own more than one house, whether it is ancestral property or when you upgrade to a bigger place. You may choose to keep the property vacant or put it on rent.
Instant Home Loan Sanction, is a pre-approved Home Loan exclusively for customers who have a Salary Account with us.
You can avail of pre-approved Home Loan through ICICI Bank Internet Banking and generate your Home Loan sanction letter in just a few clicks.
View & Click on Pre-Approved Offer | Pay Processing Fee | Download Sanction Letter
In case you have already taken Pre approved home loan sanction click here to proceed for disbursement.
Instant online sanction
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Home Loan sanction in a few clicks
No documents required at the time of loan sanction
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Instant Home Loan is an instant sanction for our customers with pre-approved Home Loan offers. You can generate your Home Loan sanction letter online in just a few clicks. Steps for Instant Home Loan:
The sanction letter will be valid for a period of months from the date of generation of the sanction letter.
Pre-approved Home Loan offers are generated for customers having a Salary Account with ICICI Bank and the loan amount is based on the salary credits appearing in the bank account.
No, the instant Home Loan sanction is available only for customers having a Salary Account with ICICI Bank and pre-approved Home Loan offers.
The sanction letter is valid for a period of 6 months, during which you can avail of the disbursement.
The maximum loan amount is based on your salary credit to your account and your existing obligations. The loan amount will be displayed when you log in to Internet Banking to avail of the offer. The maximum loan which can be availed of under the pre-approved Home Loan is Rs 3 crore.
The maximum tenure that can be availed of is 30 years. However, the offer tenure based on your age will be displayed on the offer page. You can reduce the tenure if required but cannot increase it beyond the offer tenure.
If you need a higher loan amount, you need to add the income of spouse or other blood relatives which are acceptable as per ICICI Bank. For a loan amount higher than the pre-approved offer amount, you can visit the nearest branch or contact your Relationship Manager as per the pre-approved sanction letter.
Yes. The following documents will be required to be submitted at the time of availing of the disbursement:
In case you reduce the offer tenure, your loan offer amount will get reduced according to the tenure so that the overall Equated Monthly Instalment (EMI) remains same.
Example: If your offer amount is Rs 1 crore and offer tenure is 30 years at ROI of 9%. The maximum EMI you can pay is Rs 80,460.
Suppose you reduce the tenure to 20 years. Now, since the maximum offer EMI is Rs 80,460, the revised loan amount will be computed at an EMI for Rs 80,460 but for a tenure of 20 years which comes to Rs 89.42 lakh.
So, the slider value for loan amount will reduce from Rs 1 crore to Rs 89.42 lakh when you reduce the tenure from 30 years to 20 years.
If you increase the tenure slider back to 30 years, the loan amount will be reset to the offer amount of Rs 1 crore.
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Taking investment decision in real estate is usually a difficult one, especially when it comes to choose between residential property and commercial property. For someone who is new to investing in real estate, the decision is all the more difficult.
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