Home Loan, Home Loans, Home Loans in India

	A home loan expert that 'hand-holds' you through the entire home buying process.
	ICICI Bank

At ICICI Bank we understand the joy of owning a dream home. Right from identifying the property to helping you understand the complicated documentation and EMI break-up, we hand hold you through the entire process. Making ICICI HFC one of the most helpful and hassle-free Home Loan partners you could wish for.


	Your Dream Home
	Our Expertise

We, at ICICI Bank Home Loans, understand what it means for you to own your dream home. We realise that you go through a fair share of anxiety during this entire process, which is precisely why we are there to guide and assist you at every step of your home buying process.

Why ICICI Bank is the best for you

Attractive interest rates
Personalised home loan counselling
Legal and technical assistance
Home and home loan insurance

ICICI Bank offers Home Loans to Resident as well as Non Resident Indians

You must be at least 25 years of age when the loan is sanctioned
The loan must terminate before or when you turn 65 years of age or age of retirement, whichever is earlier.
You must be salaried or self-employed with a regular source of income
Minimum age of co-applicant should be 18 years

How to enhance your eligibility

If your spouse is an earning member, you can make him/ her a co-applicant. Their income will be considered to enhance the eligibility
In case of co-owners, they must necessarily be co-applicants

For loan sanction

Salaried Customers	Self Employed Professionals	Self Employed Non Professional
Application form with photograph duly signed by all applicants	Application form with photograph duly signed by all applicants	Application form with photograph duly signed by all applicants
Identity, residence and age proof	Identity, residence and age proof	Identity, residence and age proof
PAN card copy of the main applicant	PAN card copy of the main applicant	PAN card copy of the main applicant
Last 3 months Salary-slips	Education qualification certificate and proof of business existence	Proof of business existence
Form 16 / Income Tax Returns	Last 3 years Income Tax Returns with computation of Income	Business profile
Last 6 months bank statements	Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account	Last 3 years Income Tax Returns with computation of Income
Last 6 months bank statements		Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
Processing fee cheque	Last 6 months bank statements	Last 6 months bank statements (self and business)
Processing fee cheque	Processing fee cheque	Processing fee cheque

ICICI Bank ensures you get the best deal on Home Loans in terms of interest rates and other facilities. You can opt for a floating, fixed or a part fixed and part floating rate Home Loan.

Charges	Home Loans
Loan Processing Charges / Renewal Charges	0.5% of loan amount as Administrative Fee or Rs. 2,000, whichever is higher
Pre-payment Charges (Part)	Nil
Pre-payment Charges (Full)	2% of Principal Outstanding including amount prepaid in the last 12 months

We are pleased to announce this special offer for our customers. This offer is applicable for all new Home Loan Sanctions and Disbursements.

The Rates as applicable for this Scheme are as below:

Category	App. ROI (%) ARHL*
Upto Rs. 30 Lacs	8.75 ( FRR – 4 .00)
Rs. 30 Lacs – Rs.50 Lacs	9.00 ( FRR – 3.75)
Above Rs. 50 Lacs	9.50 ( FRR – 3.25 )

^ FRR : 12.75%
* ARHL: Adjustable Rate Home Loans

Note: Service Tax and other taxes, levies, etc. applicable as per prevailing rate will be charged over and above these charges.

Disclaimer: The rates, fees and charges etc. as stated herein above are subject to changes/ revision from time to time at the sole discretion of ICICI Bank.

1. When can you apply for a loan?
The moment you decide to buy a home, you can put in your application for a Home Loan with ICICI Bank. You can apply for a Home Loan even before you have selected the property. The loan amount would be sanctioned or approved, based on your repayment capability.

2. What are the loan tenure options?
ICICI HFC offers loans up to 20 years, provided the term does not extend beyond 65 years of age or the retirement age, whichever is earlier.

3. How is the interest charged/ calculated?
Interest is calculated on monthly rest.

4. Who can be the co-applicants for the loan?

Your spouse can be a co-applicant for the loan.
Co-owners need to be co-applicants too. You can consult your Home Loan counselor for any other approved co-applicants for the loan.

5. What are the securities/ collaterals you need to provide?
Security for the loan is a first and exclusive charge of the property to be financed, by way of deposit of title deeds and/ or such other collateral security as may be necessary. The title to the property should be clear, marketable and free from any encumbrances.

6. What are the stages involved in taking a loan?

Application - Submit a completely filled in application with all the necessary documents.
Sanction - You get an approval for a specific loan amount based on your requirement, repayment capability and the value of the property.
Disbursement – Transfer of loan amount.
Disbursement – Disbursement will be made as per stage of construction.

7. What are the various types of loans that ICICI Bank provides?

Home Loan
Land Loan
Office Premises Loan
EMI Under Construction
Balance Transfer
Top-Up Loan
Loan Against Property
Lease Rental Discounting

8. What is a Monthly Reducing Balance?
An Equated Monthly Installment (EMI) has 2 components: interest and principal. When the interest is calculated on monthly rests, the principal on which the interest is charged goes down every month. This results in significant savings for the customer over the tenure of the loan.

9. What is an Annual Reducing Balance?
An Equated Monthly Installment (EMI) has 2 components: interest and principal. When the interest is calculated on annual rests, the principal reduces only at the end of the year. Therefore, you continue to pay interest on a portion of the principal that you have already actually paid back to the lending company.

10. How does ICICI Bank help you in selecting a property of your choice?
Through ICICI Home Search, you can identify a property that fulfills your requirements from a vast database of properties. We arrange for site visits to the properties short-listed by you, and also assist you with the legal documentation. This service comes to you free of cost for first sale properties. This facility is available in select cities only.

11. What is an amortization schedule?
An amortization schedule is a table giving the reduction of your loan amount by monthly installments. The amortization schedule gives the break-up of every EMI towards repayment interest and outstanding principal of your loan.

12. Can you get IT certificates in the name of both the applicant and co-applicant separately?
As per IT rules, only one certificate can be issued for a Home Loan hence one certificate will be issued in the name of both the applicant and co applicant.

13. When is the IT certificate issued?
You can request for a provisional IT certificate that can be issued any time during the course of the year. The final IT certificate will be issued at the end of a financial year. You can expect to receive your copy in the month of April or May.

14. What kind of Tax Benefit does an individual get while applying for a Home Loan?
Many of us have taken home loans / mortgages to buy our house. One of the most important motivators for availing a housing loan is the income-tax benefit that it provides.

If you have availed of a home loan, you can claim tax benefits on both the principal and interest components of the home loan as per the Income Tax Act. These benefits are in the form of deductions available to assesses who have taken a loan to either buy a house or build one. You can reduce your tax liability by a maximum of Rs. 6,250 per month (Rs. 75000 p.a.)

Under section 80(c), repayment of principal of up to Rs. 1 lac is deductible in full from your income which means you can save tax up to a maximum of
Rs. 30,000 p.a. on principal. Similarly under section 24 of the Income Tax Act, interest is deductible up to a maximum of Rs. 1.5 lac. Thus, this leads to an additional saving of a maximum of Rs. 45,000 p.a.

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A home loan expert that 'hand-holds' you through the entire home buying process.

ICICI Bank

Your Dream Home

Our Expertise