ICICI was formed as a financial institution in the year 1955 as an initiative of Govt. of India, the World Bank and representatives of Indian Industry. The organization was formed with an aim to make an establishment that would lend long-term and mid-term loans especially for development of businesses across India. Later in the year 1990 the organization broadened its territory by not limiting itself into the business areas alone but also providing a large gamut of loan products through its various branches and subsidiaries. The organization was the first Indian bank that was listed on NYSE in non-Japan Asia. The bank has a total asset of Rs.6,461.29 billion i.e. 103 billion US dollars. The Net PAT of the organization is Rs.111.75 i.e. 1788 million US dollars as on 31st March, 2015. The bank operates through 4070 branches and 13235 no’s of ATM that are present across the country. There are a number of loan products that the bank offers. The loans offers are affordable and planned keeping in view the customer requirements
Home Loans at ICICI:
ICICI is one of the most preferred private banks for Indians. The bank is well known for its customer centric approach. The bank offers tailor-made solution for its customers. The bank has been successfully providing home loans to millions across the country. Services such as door-step services, paperless transactions, easy application procedure, and quick disbursal of home loans by the bank makes the bank everyone’s preferred bank. Home loans are available for people from all walks of life salaried, self-employed, professionals, working women, covering a larger category of people who can apply for home loans at ICICI. Online facilities such as EMI calculators allow you to know your eligibility without you having to visit the bank personally. Once you know your eligibility you know which house to pick and plan your budget accordingly. If you have a house on your mind which is higher than your eligibility you can consider your partner’s, parents, or sibling’s income and re-check your eligibility to obtain higher eligibility. The bank offers genuine rate of interests, lower EMIs, and longer tenures that you can re-pay your loan at your own pace and be an owner of your home. ICICI home loan can be applied at the tip of your fingers by making use of your smart phone, tabs, or laptop. Online processes ensure that there is no loss of documents, and your application is quickly approved therefore making the entire loan procedure safe and fast.
Know some benefits and features of ICICI home loans:
1. ICICI- Loan Amount: The bank offers loan amount upto Rupees 10,00,00,000/- to its values customers.
2. ICICI- Rate of Interests – 8.65% to 8.95%: ICICI bank offers quite economic rate of interests to its customers. The interest rates start from 8.65% to 8.95% p.a. A special rate of interest is given to its women customers.
ICICI- Loan Tenure: Home loans at ICICI can be availed for loan tenure of 360 months.
ICICI – Home Loan Processing Fee: A fee of 0.50% is charged as a processing fee for the processing of the loan.
ICICI- Fore Closure Charges: ICICI charges NIL fore-closure charges if you wish to make a pre-payment of the loan. Therefore if you are saving to pay off early you will not be charged any additional fee towards it
ICICI – Approved Projects: ICICI offers pre-approved projects that have been already assessed by the bank. If you pick one of the pre-approved projects that have been pre-assessed by the bank you will not have to labor on searching for your home as you will acquainted with all the features of your home pre-assessed by ICICI. Approved projects are reliable projects as the bank is confident that the builder will not leave the project half way through with a proper time-line of the completion of the project and you are certain to get your dream home without a hassle.
ICICI- Balance Transfer: ICICI offers balance transfer facility which means if you have availed a home loan from any bank or finance institution and you are paying higher EMIs and rate of interest towards your loans in such cases you can avail a balance transfer facility and choose ICICI if you find that the bank is offering you loan at less rate of interest and lower EMIs. You can save a lot of money by taking balance transfer of your home loan.
ICICI- Loan Against Property: if you are in need of money for any reason such education of your children, starting up a business, you can imply avail a loan against property for a loan tenure of 15 years without depositing any security or collateral or a guarantee.
ICICI- Preapproved home Loans: If you are a reliable customer of ICICI you automatically become eligible for pre-approved loans which is displayed in your online banking account. If you are eligible for any such loan then you should right away grab the opportunity and get your home loan today. You can also choose from the approved projects of ICICI and get the best deal on your home with a long approval process of the bank.
ICICI- Home Loan Insurance: If you are getting your home financed through ICICI there are insurance schemes for the customers, which will not only help you give your EMI in case of any unfortunate event that may occur to you but also insure your home till the time your loan tenure ends to cater for any damage to the property. There are two such Home Loan Insurance schemes that are prevalent at ICICI
(i) Home Insurance and Secure Mind
(ii) Loan Protect
If you wish to get your home financed through ICICI, visit Letzbank!