Icici Home Loan Eligibility

Icici Home Loan Eligibility

Bank Finance Amount Interest Rate Tenor Processing Fee Advance Part Payment Action
10,00,00,000/- 8.35 - 8.85 360 0.50% YES Check Eligibility

ICICI offers loan products that are really affordable for customers of all kinds. ICICI offers loans for purchase of a new home, home expansion and improvement loans, etc under the home loan segment. The bank also offers loans on approved projects or properties which have been evaluated by ICICI.

Various Features of ICICI Home Loans

  • Loan Amount: ICICI offers home loan upto Rs.10,00,00,000/- for purchase of home (Bungalow, Flat, Villa, land for construction of Home, etc. ) The home loan offered by ICICI depends on the eligibility of the customers which depends of the credit score of the individual. To obtain higher amount as home loan you can always club your partner’s income.
  • Rate of Interest: The home loan offered by ICICI is of two types – Fixed Rate of Interest and Floating Rate of Interest. The rate of interest charged as floating rate of interest ranges between 8.65 to 8.85 % per annum. Whereas, the rate of interest charges as fixed rate of interest is charged as 9.70 to 8.95% per annum.
  • Loan Tenure: The loan tenure of the home loan can be decided based on your own pocket, if you can afford you can pay your loan in a shorter loan tenure whereas if you cannot, you can pay smaller EMIs and repay your loan by making use of longer loan tenure option.
  • Processing Fee: The bank charges a nominal processing fee of 0.50% which is a one-time processing fee at the time of processing your loan before the disbursal of the loan amount.
  • Fore-closure Charges: The bank charges Nil fore-closure charges if you had want to repay the entire loan amount and close the loan account at any point of time during your loan tenure.

Eligibility Criteria

  • Age must be 21years
  • Salaried professional you should be drawing an income of atleast Rs.5,00,000/- per annum.
  • ISelf employed individual then you should be drawing atleast Rs. 7,50,000 per annum .
  • Income is not sufficient you can club your spouse, parents, any blood relative’s income to enhance your eligibility and buy the home of your dreams.

Documents Required

For Salried

  • Photograph
  • KYC - PAN / passport / driving license /Voter Id Card / Aadhaar Card
  • Present Address Proof
  • Signature verification proof
  • Latest 3 months salary slips / certificate for fixed salary
  • From16
  • Last 6 month’s salary account bank statement
  • Property Documents

For Self-Employed

  • Photograph
  • KYC - PAN / passport / driving license /Voter Id Card / Aadhaar Card
  • Present Address Proof
  • Signature verification proof
  • IT- returns for the last 3 years along with computation of income
  • Last 1 Year Bank statement for both personal and business
  • Property Documents