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ICICI Bank's mortgage portfolio crosses Rs 1 lakh crore

January 14, 2016

  • First private sector bank to cross the milestone
  • To commemorate the achievement, it announces two ‘first-of-its kind’ initiatives in India:
    1.‘Express Home Loans’, a fully online home loan approval in 8 working hours
    2. Completely digital processing through a mobile app for part disbursement of home loans for under construction projects

Mumbai: ICICI Bank today announced that it crossed the milestone of disbursing mortgage loans of over Rs 1 lakh crore, a first among private sector banks in the country. To commemorate this milestone, the Bank also launched two new digital initiatives to simplify and quicken the assessment for new home loans as well as disbursements linked to the construction stage of projects.


The first service-- online approval of home loans at an unprecedented speed of within eight working hours--empowers borrowers to complete the entire mortgage assessment online without visiting a branch. Christened ‘Express Home Loans’, with this offering customers can now make their applications, upload KYC and income documents, and receive the final home loan approval anywhere at their convenience. This service is available for all salaried individuals, including non-ICICI Bank customers. It is a marked improvement on the existing practice of lenders providing provisional sanctions of home loans to the aspiring borrowers on the basis of their self-declared information.


The second initiative helps individuals taking home loans for under construction projects to get subsequent disbursements (after the first disbursement) through the Bank’s ‘iLoans’ mobile application in a completely paperless way from the convenience of their home or office. All they need to do is download ‘iLoan’ app, scan and upload the demand letter from builder and proof of own contribution. Once uploaded, ICICI Bank assesses the demand and makes the disbursement. This offering, which one can avail of 24x7, anywhere makes the current practice of the borrowers having to visit the lender’s branch redundant, thereby saving time and enhancing convenience for the customers.


Speaking on the occasion, Rajiv Sabharwal, Executive Director, ICICI Bank said, “ICICI Bank catalysed the growth of retail lending in the country by making home, auto and other retail loans widely accessible and affordable. Our efforts included taking home loans to smaller towns, making applications easier for the borrowers by offering them doorstep services and disbursing loans quickly. In our journey through the years, we embarked on many initiatives: we introduced a whole new range of products, built a wider distribution network and leveraged on technological advancements like Tab Banking. As a result of our continued endeavour, we have crossed the milestone of disbursing over Rs 1 lakh crore of mortgage loans in a profitable manner with the lowest delinquency in the industry. Today, we have taken another leap forward with the launch of two first-of-its-kind initiatives. We believe these initiatives will bring simplicity to the home loan process, while delivering solutions at a never-seen-before speed.”


Aspirant home loan borrowers can avail the facility of getting their final sanction online within eight working hours in four simple steps:

  1. Visit: and provide basic personal details
  2. Check the home loan offer on the site
  3. Fill the online application form
  4. Upload KYC and income documents online


To read more on the online sanction within eight working hours, visit


An applicant can avail home loans for under construction projects to get subsequent disbursements through the Bank’s ‘iLoans’ application by following the below steps. It is available for Android & iOS phones and can be downloaded from Play Store or App Store.

  1. Download and install the ‘iLoans’ app
  2. Access the loan account
  3. Select ‘loan summary’
  4. Select disbursement request
  5. Upload required documents



Once the documents are uploaded, the Bank assesses the request and delivers the disbursal cheque to the customer. Customers can also track the status of their applications through the app itself. To know more on ‘iLoans’, visit


About ICICI Bank Ltd: ICICI Bank Ltd (NYSE:IBN) had consolidated total assets of US $ 132.17 billion at March 31, 2015. ICICI Bank's subsidiaries include India's leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms. ICICI Bank's presence currently spans 17 countries, including India.


Except for the historical information contained herein, statements in this release, which contain words or phrases such as 'will', 'would', etc., and similar expressions or variations of such expressions may constitute 'forward looking statements'. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to our ability to obtain statutory and regulatory approvals and to successfully implement our strategy, future levels of non-performing loans, our growth and expansion in business, the adequacy of our allowance for credit losses, technological implementation and changes, the actual growth in demand for banking products and services, investment income, cash flow projections, our exposure to market risks as well as other risks detailed in the reports filed by us with the United States Securities and Exchange Commission. ICICI Bank undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof. All reference to interest rates, penalties and other terms and conditions for any products and services described herein are correct as of the date of the release of this document and are subject to change without notice. The information in this document reflects prevailing conditions and our views as of this date, all of which is expressed without any responsibility on our part and is subject to change. In preparing this document, we have relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources. ICICI Bank and the "I man" logo are the trademarks and property of ICICI Bank. Any reference to the time of delivery or other service levels is only indicative and should not be construed to refer to any commitment by us. The information contained in this document is directed to and for the use of the addressee only and is for the purpose of general circulation only.


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