Apply for ICICI Bank Home Loan

Hassle-free Documentation Process | Doorstep Service | Secured Loan | Complete Transparency | Low Interest Rate

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20

Years Of Experience

About ICICI Bank Home Loan

ICICI Bank Home Loan provides the necessary financial support for Home Buying, Home Renovation, Home Extension, and Plot Purchase. It is a secured loan that requires the borrower to provide collateral as a form of security.

LoanMoney is a registered and authorized Direct Selling agent of various National, Multinational, and Non-Banking Financial Companies. It provides a loan with minimum documentation, low-interest rates for a longer tenure, fast approval mechanism, low processing fees, and multiple repayment options. Apply for ICICI Bank Home Loan through LoanMoney to get hazel-free get hassle-free financial support from India's leading Bank.

Features of ICICI Bank Home Loan

  • Sanction approval without having selected a property
  • Flexible repayment option
  • Free Personal Accident Insurance
  • Insurance options for your home loan at attractive premium
  • Attractive floating and fixed interest rates options
  • Higher Loan Eligibility
  • Longer tenure and lower EMI
  • Loan sanction possible before selecting the property
  • Doorstep service
  • Simplified documentation
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Details of ICICI Bank Home Loan

  • Interest Rate

  • Eligibility Criteria

  • Documents Required

  • General Information

Interest Rate

Fee Amount to be Paid
Rate of Interest 6.75% to 7.25%
Loan Processing Charges Min. 10000/ Or 0.25% of Loan Amount
Cheque Bounce Charges NA
Cheque/ Instrument Swap charges NA
Prepayment/ Foreclosure Charges NA
Default Interest Rate NA
Duplicate Statement Issuance Charges NA
Duplicate Amortization Schedule Charges NA
Duplicate Interest Certificate NA
S(Provisional/ Actual) issuance Charges NA
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ICICI Bank Home Loan Eligibility Criteria

  • You must be at least 21 years of age on sanction of the loan
  • You must be salaried or self-employed with a regular source of income
  • Minimum age of co-applicant should be 18 years
Particulars Salaried Self Employed Professional
Age(Min-Max) 21 To 60 Years 21 To 70 Years 21 To 70 Years
Minimum Income Min. 2,00,000/ p.a Min. 1,50,000/ p.a Min. 1,50,000/ p.a
Co-applicant NA NA NA
Loan Tenure Max. 30 years Max. 20 years Max. 20 years
Maximum Loan Amount Max. 10 Crore Max. 25 Crore Max. 25 Crore
Employment/Business Continuity Min. 2 Year Min. 3 Year Min. 3 Year
CIBIL Score Min. 700+ Min. 600+ Min. 600+
ICICI Bank Documents Required

Getting a home loan from ICICI Bank is easy and quick. We keep the paperwork and other formalities to a minimum. Proof of your identity, address and income are some of the key documents that are required to be submitted for ICICI Bank home loan.

  • Application form with photograph duly signed
  • Identity, residence and age proof
  • Last 6 months bank statements
  • Last 3 months Salary-slips
  • Processing fee cheque
  • Form 16 / Income Tax Returns
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ICICI Bank General Information

Salaried Self Employed Professional
Age 21 To 60 Years 21 To 70 Years 21 To 70 Years
Loan Amount Upto 10 Crore Upto 25 Crore Upto 25 Crore
Tenure 5 To 30 Years 5 To 30 Years 5 To 30 Years
Rate of Interest / APR [Annual Percentage Rate] 6.75% To 7.25% 6.75% To 7.25% 6.75% To 7.25%
Features Get Up to 20% Higher Eligibility & EMI as low as ₹809/lakh Get Up to 20% Higher Eligibility & EMI as low as ₹809/lakh Get Up to 20% Higher Eligibility & EMI as low as ₹809/lakh
Processing Fees Min. 10000/ Or 0.25% of Loan Amount 0.25% of Loan Amount 25% of Loan Amount
Special it will be applicable time to time as per bank offers it will be applicable time to time as per bank offers it will be applicable time to time as per bank offers
Documentation KYC/Financial(2 Years) & Property Documents. KYC/Financial(2 Years) & Property Documents. KYC/Financial(2 Years) & Property Documents.
Eligibility

  • Your dream home is now within your reach with ICICI Bank Home Loans. We offer higher loan amount on your income. Your home loan eligibility can be further enhanced by including income of the co-applicant(s) of your Home Loan.

  • 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 an indicator of your home loan affordability.
  • It wil calculate as per yearly business income
  • As per Business Tenure
  • Type of Business
  • Requier Avrage Bank balance in Banking
  • It will be calculate As per Professional practic tenure
  • As per yearly Receipt

Self-Employed Documents

Application Form

Provide accurate information on the form.

KYC Documents

Documents such as Aadhar Card, Passport, Voter ID, or any other government-issued photo ID.

Proof of Address

  • Proof of Address: Aadhaar Card, Passport, Utility Bills (electricity, water, gas), or Rental Agreement.
  • Passport-sized photographs.

Proof of Business Existence

Documents indicating the existence and nature of the business, such as:

  • Business registration documents (Partnership Deed, Memorandum of Association, Articles of Association.).
  • GST registration certificate.
  • Trade license, if applicable.
  • Shop and Establishment certificate.

Income Proof

Documents demonstrating your income and financial stability:

  • Audited financial statements (Balance Sheet, Profit & Loss statement) for the last 2-3 years.
  • Income Tax Returns (ITR) filed for the past 2-3 years.
  • Computation of Income for the same period, certified by a Chartered Accountant.

Bank Statements

Personal and business bank statements for the last 6-12 months to show transaction history and financial behavior.

Business Profile

A detailed profile of your business, including its nature, products/services, and client base.

Property Documents

Documents related to the property you are purchasing or constructing, including:

  • Sale Agreement.
  • Allotment Letter from the builder.
  • Property title documents and chain of ownership.
  • Approved building plan.

Legal Documents

Property-related legal documents such as:

  • Encumbrance Certificate.
  • Property Tax Receipts.
  • NOC (No Objection Certificate) from relevant authorities.

Other Financial Obligations

Details of any existing loans or financial commitments.

Self-Employed Eligibility

  1. Age: Applicant should be at least 21 years old and should not exceed 65 years.
  1. Income and Stability: ICICI Bank assesses the applicant's income stability and repayment capacity. Generally, self-employed individuals need to provide proof of a stable and regular source of income for the last few years. This can be in the form of income tax returns, audited financial statements, and/or business turnover.
  1. Business Stability: The bank usually requires a minimum of 3 to 5 years of continuous business existence for the applicant. The stability of the business indicates the applicant's ability to generate a consistent income and repay the loan.
  1. Credit Score: A good credit score is important for loan approval. A credit score is a numerical representation of an individual's creditworthiness. ICICI Bank typically considers a credit score of 650 and above as favorable for loan eligibility.
  1. Loan Amount: The loan amount eligibility depends on the applicant's income, age, business turnover, and repayment capacity. ICICI Bank may offer a loan amount of up to a certain percentage of the property's value.
  1. Property Valuation: The property for which the loan is sought is also evaluated by the bank's authorized valuers. The bank considers the property's value to determine the loan amount.
  1. Co-applicant: Having a co-applicant, like a spouse or immediate family member, with a stable income and good credit history can enhance the chances of loan approval.
  1. Documentation: Self-employed individuals need to submit various documents like income tax returns (ITRs) of the last 3 years, balance sheets, profit and loss statements, business ownership proof, and other relevant financial documents.
  1. Loan Tenure: ICICI Bank offers home loans with varying tenure options, usually ranging from 3 to 30 years. The applicant's age and repayment capacity might influence the loan tenure offered.
  1. Loan-to-Value (LTV) Ratio: ICICI Bank typically offers home loans up to a certain percentage of the property's value. The LTV ratio indicates the proportion of the property value that the bank is willing to finance.

Quick Enquiry for ICICI Bank Home Loan

Share your contact details and talk with our experts to get an instant decision on your loan.

Check Your Eligibility

How much do you need?

EMI Calculator

Check Your Cibil Score

Purpose for Taking Home Loan

Home Buying

Buy your dream house or home that is within your budget.

Home Renovation

Make your home more beautiful by renovating your dream home.

Home Extension

Increase the amount of built-up space at your home using this loan.

Clients words

What our clients say

We pride ourselves on providing transparent and quality service to our clients, but you don’t just have to take our word for it. Read what our clients have to say about us.

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Job Varghese

Client

I am totally satisfied by loan money and the way it services its customers.... especially I thank and appreciate Ms. Somya as she is a great resource to the organization. She has been constantly assisting me from start till the end and has been a very prompt and sensible officer as she could offer the relevant deal for me.

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Vishwajeet Nanaware

Client

LoanMoney is really good in providing loan services. Particularly Chanchal, my loan assistant has great skills to communicate with her clients and understand their needs. She processed my personal loan on time. The rate of interest offered was lower than the others. it was overall a good experience with 100% satisfaction.

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Avlokit Kaushik

Client

This is my second time in have taken a loan from LoanMoney. Kavita has helped me a lot..very cooperative very helpful very fast. Thanku again.

FAQ of Home Loan

  • Who can apply for a Home Loan?

    Home Loan is available for salaried/self-employed as well as Professionals, Employees of public/pvt Ltd companies. Every bank has individual minimum criteria for net monthly income Rs. 25,000, age between 21 to 60 years, profession, CIBIL Score, job continuity, etc.

  • How long will it take for my Home Loan to be processed?

    Once you submit your application form and the required documents as per Bank's criteria, you can expect our approval and disbursal within 5 working days, provided everything is in order. All loan approvals are at the sole discretion of the bank.

  • What is the Cheapest Home Loan or Affordable Home Loan?

    An Affordable or cheapest Home Loan is a loan in which not only you can get an attractive interest rate starting from 10:75% to 18%, and you can get a quick Home Loan with minimum processing fees, No hidden charges. With our easy & minimal paperwork, and flexible EMI payment options will make it a hassle-free Home Loan.

  • What are Nil Foreclosure Charges in Home Loan?

    The term Loan foreclosure means that when a person does the full repayment of the remaining loan amount in one single & final payment instead of paying it back in multiple EMIs.

    Some banks don't allow foreclosure of the loan as they won’t get the interest from the borrower and some banks allow foreclosure of the loan but they charge a certain amount from the borrower. While taking a Home Loan to try to see if there is zero foreclosure charges or nil foreclosure charges facility available for borrowers. This can save your money which you was going to pay to the bank.

  • What are the features of Loanmoney's Fastest Home Loan?

    The features of Loanmoney's Fastest Home Loan are No Collateral or no Security, Easy Repayment options, Safety, Attractive Interest rates, It is Unsecured, Can be Obtained for any Purpose and Fast, Cheap & Reliable.

  • Do I need to provide any security or collateral to obtain Home Loan from Bank?

    No, you don’t have to provide any security, collateral or guarantee to obtain Home Loan from Bank.

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