Home Loan

NRI Home Loan

Getting a home loan from ICICI Bank is quick and easy. Variety of products depending on your unique needs such as buying a house, building a house or purchasing property in India, and more. Whatever be your unique need, ICICI Bank has a loan product just for you. We offer higher eligibility and lower EMIs at attractive interest rates.

 

Request a call back for Mortgage Loan

 


Home Loan Benefits

  • Higher eligibility
  • Attractive interest rates & processing fees.
  • Doorstep service in India till disbursement
  • Choice between fixed and floating interest rates.
  • Free personal accident insurance cover to first applicant subject to total loan amount up to to Rs 25 lakh.*
  • Flexible loan tenure
    * The amount is to the extent of outstanding principal amount and as per the applicable conditions

Home Loan Benefits

  • Higher eligibility
  • Attractive interest rates & processing fees.
  • Doorstep service in India till disbursement
  • Choice between fixed and floating interest rates.
  • Free personal accident insurance cover to first applicant subject to total loan amount up to to Rs 25 lakh.*
  • Flexible loan tenure
    * The amount is to the extent of outstanding principal amount and as per the applicable conditions

 

Request a call back for Mortgage Loan

NRI Home Loan Eligibility

Age

  • Minimum Age – 25 years & Maximum Age – 60 years or Retirement age, whichever is earlier

Work Experience

  • Salaried: Minimum 1 year of employment overseas.
  • Self-Employed: Minimum 3 years in current business overseas.

 

 

 

Maximum Loan Tenure:

Product
Loan Tenure
Home Loan
20 Years
Home Improvement Loan
20 Years
Land Loan
10 Years

 

Minimum Income:

 

Country/Employment Type
Salaried
Self-Employed
Merchant Navy
GCC
84000 AED
84000 AED
26000 USD
Other Countries
42000 USD
42000 USD
26000 USD

Interest Rate

To know more Click here

Charges

Processing Fee: 1% of the loan amount+ Applicable Tax

Administrative Charges: ₹ 5000+ Applicable Tax or 0.25% of the loan amount + Applicable tax whichever is lower (*The Administrative charges are a one-time non- refundable charges collected by the Lender for the purpose of appraising the valuation and legal verification of property to ascertain suitability of accepting the property for mortgage and the same is independent of the outcome /result of such appraisal. Please note that the administrative charges are payable at the time of disbursement of the Facility)

Documents required for NRI Home Loan

 

Basic Documents:

Sr No
Document Type
Salaried
Self-employed
1
Application form as per our Format and passport size photographs – to be signed by the applicants
Y
Y
2
KYC documents – Identity Proof, Overseas & Indian Address Proof, Signature proof  (PAN Card / Form 60 as per our format, Passport etc)
Y
Y
3
Residence Proof in India:- Aadhar card/ Passport copy
Y
Y
4
Copy of Valid Passport and Visa copy
Y
Y
5

For PIO / OCI applicants-

  • PIO or OCI Card
  • Stamped and notarized declaration as per format with Ration Card/ Passport of parents/grand-parents/ spouse of PIO establishing their Indian citizenship
Y
Y
6
Processing fee cheque from NRE/NRO/overseas salary account of the customer - “ Favouring ICICI Bank Ltd for Loan a/c of applicant name“ If customer is outside India while applying loan, customer can pay PF amount directly through his/her NRO/NRE account before sanction.
Y
Y
7
Power of Attorney document as per our format duly signed by all the applicants
Y
Y
8
Non solicitation declaration as per our format to be signed by the applicants if home loan is applied when customer is in India
Y
Y

 

Income & Other Documents:

Sr No
Document Type
Salaried
Self-employed
1
Salary Slip for 3 months
Y
N
2
Bank Statement
3 months
6 months
3
Appointment Letter/ employment contract
Y
N
4
Incorporation certificate, Latest 3 years audited financials with CA certification, IT Returns etc.
N
Y
5
Form W2 1040 of last 3 year
N
Y
6
Credit Report downloaded (From Transunion / Equifax), Experian or Transunion of all applicants.
Y
Y
7
Office Address Proof & Business Profile
N
Y

 

Please note Co-applicant’s income can be considered for enhancing loan eligibility.

 

Additional Documents required for Balance Transfer

Sr No
Document Type
Salaried
Self-employed
1
Latest 12 months Statement from  loan account
Y
Y
2
Outstanding principal statement on existing lender’s letterhead
Y
Y
3
Original list of documents
Y
Y
4
Declaration cum Undertaking of legal documents submitted to existing lender
Y
Y

 

Please note these are basic documents required for Sanction. Additional documents may be required on case to case basis.

 

 

 

 

Repayment

Repayment mode can be done through the following options:

  1. Location where ECS facility is available: Electronic Clearing Service (ECS)/ National Automated Clearing House (NACH) or Auto Debit
  2. Location where ECS facility is not available: Post Dated Cheque (PDC).

Under the extant Reserve Bank of India (RBI) regulations, the repayment of loan should be either by inward remittance from outside India or by debit to NRE / NRO / FCNR(B)/. The amount must be payable in Indian Rupees only.

 

Blogs

How To Choose The Right Home Loan In India.To know more Click Here

 

How Your Credit Score Can Impact Your Home Loan.To know more Click here