ICICI Home Loan EMI Calculator

Overview of ICICI Bank Home Loan

ICICI is the largest private sector banks in the country, and it is the favorite of salaried professionals. ICICI offer home loans with easy EMI which can be calculated on ICICI home Loan EMI calculator. There are a number of reasons as to why ICICI is the most favorite bank of most of the Indians especially when it comes to Home Loans.

Features of ICICI Bank Home Loan

  • ICICI offers the fastest home loan sanction for its eligible customers – Home Loan is sanctioned within a time span of 8 Hours after submission of your application.
  • ICICI offers loan amount upto Rs.10 Crores for purchase of a residential property which can be a flat, bungalow, villa, or even for purchase of a plot for construction of home over it. You need to be eligible to borrow Home Loan from ICICI – Make use of eligibility calculator at letzbank website absolutely free.
  • The rate of interest at which the bank lends the loan is 8.35% p.a.
  • The bank offers a really long loan tenure making your home loan EMI really affordable. The bank offers home loan for loan tenure of 360 months.
  • Processing fee charged by the bank for processing home loan at ICICI is 0.50%
  • The bank charges Nil fore-closure charges if the customer plans to pre-closure the loan deal during the middle of the loan tenure.

It is easy to not just borrow home loan from ICICI but also be able to plan your EMI and customize it as per your monthly budget. To plan your EMI you need to make use of Letzbank ICICI bank EMI Calculator. First and foremost thing you need to know is that your EMI stands for ‘Equated Monthly Installment’. The EMI of a home loan comprises of two components viz.

  • The principle amount
  • The Interest Charged.

So right from your first EMI you start paying not just the principle amount but also the rate of interest levies by the bank towards your home loan and also the interest component charged towards the first few EMI is comparatively more than the interest rate component charged during the later stages of the home loan. Now the question arises how to calculate an EMI to make it a perfect fit with your monthly budget. You can get the answer by following a quick and easy 3 Stepped process for which you need to visit Letzbank Home Loan EMI Calculator and enter the following details on the tool:

  • Step 1: Enter Loan Amount
  • Step 2: Enter Rate of Interest
  • Step 3: Enter the loan Tenure

Once you furnish these details you will be able to get an idea of the following:

  • EMI – Equated Monthly Instalments
  • Amount charged towards the rate of interest of home loan
  • Loan stages throughout the loan tenure for making better financial decision.

Once you have planned your EMI you are all set to apply for ICICI Home loan online – just do not forget to compare your Home loan offer at Letzbank and grab the best home loan deal in town. All online applicants are eligible to avail a 100% waiver on the service charges.