savings
Money Saver Home Loan

Money Saver Home Loan

ICICI Bank Money Saver Home Loan is a unique offering in which loan is sanctioned in the form of an overdraft account that allows you to save on the interest payable on your Home Loan. Any surplus funds deposited in the Money Saver Account reduces your interest outflow and at the same time, you avail the flexibility to transact or withdraw the funds whenever needed.

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Prominent Features of ICICI Bank Money Saver Home Loan

FAQs:

What is Money Saver product?


Money Saver product is a unique proposition in which you get benefit on interest payable towards home loan depending on the surplus funds kept in the Money Saver account and at the same time you avail the flexibility to utilize surplus funds whenever required.

Who are eligible to apply for Money Saver product?


Money Saver product can be availed by individual Resident Indian customers.

Can Salaried or Self-Employed customer apply for Money Saver product?


Yes, Money Saver product can be availed by both Salaried and Self-Employed customers

I am having a home loan with other bank/financial institution. Can I transfer my loan to ICICI Bank under Money Saver?


. Yes, customers having home loan with other bank/financial institution can do balance transfer to ICICI Bank under Money Saver and avail the benefits of the product.

Is there any requirement of maintaining minimum average balance to get the interest benefit under Money Saver?


No, there is no requirement of maintaining minimum average balance in order to get interest benefit under Money Saver.

Can I avail Fixed or Floating rate of interest under Money Saver product?


Only Floating rate of interest can be availed under Money Saver product.

How interest amount is calculated under Money Saver product?


Interest amount is calculated on daily basis on the principal outstanding minus the balance maintained in the Money Saver account.

Can I avail Top Up loan under Money Saver product?


Yes, Top Up loan can be availed under Money Saver product.

Disclaimer


The data generated herein is completely and solely based on the information/details provided by you in response to the questions specified by ICICI Bank Limited ("ICICI Bank"). These questions and the calculations thereon resulting in specific data are developed and based on certain tools and calculators that are made available to ICICI Bank and are based on pre-determined presumptions/assumptions. ICICI Bank, while providing and developing these tools, has relied upon and assumed, without independent verification, the accuracy and completeness of all information made available to it from public / private sources and vendors or which has otherwise been reviewed by ICICI Bank.

Such information and the resultant data is provided only for user's convenience and information purposes. ICICI Bank does not guarantee accuracy, completeness or correct sequence of any the details provided therein and therefore no reliance should be placed by the user for any purpose whatsoever on the information contained / data generated herein or on its completeness / accuracy. The use of any information set out is entirely at the User's own risk. User should exercise due care and caution (including if necessary, obtaining of advise of tax/ legal/ accounting/ financial/ other professionals) prior to taking of any decision, acting or omitting to act, on the basis of the information contained / data generated herein. ICICI Bank does not undertake any liability or responsibility to update any data. No claim (whether in contract, tort (including negligence) or otherwise) shall arise out of or in connection with the services against ICICI Bank. Neither ICICI Bank nor any of its agents or licensors or group companies shall be liable to user/ any third party, for any direct, indirect, incidental, special or consequential loss or damages (including, without limitation for loss of profit, business opportunity or loss of goodwill) whatsoever, whether in contract, tort, misrepresentation or otherwise arising from the use of these tools/ information contained / data generated herein.

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