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Home Loan Overview
Unlock the door to your dream home with an ICICI Bank Home Loan. Enjoy a competitive interest rate @ 8.75%* p.a. (applicable only to customers with Pre-approved Home Loan Offer), making homeownership affordable. Benefit from a hassle-free online application process, minimal documentation and instant sanction. ICICI Bank offers flexible tenure options, extending up to 30 years, ensuring convenient repayment. Secure the perfect Loan amount and embark on your homeownership journey with confidence. Trust ICICI Bank for a seamless and customer-friendly Home Loan experience.
Home Loan Calculators
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EMI Calculator
Check your monthly EMI
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ELIGIBILITY CALCULATOR
Check your Home Loan eligibility
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Balance Transfer Calculator
Calculate your monthly savings
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AFFORDABILITY CALCULATOR
Plan your finances for Home Loan
₹
- ₹1L
- ₹30Cr
%
- 0%
- 20%
- 24
- 360
₹10,026
Apply for Home loan Get A Callback
₹
- ₹10,000
- ₹1Cr
₹
- ₹0
- ₹1Cr
%
- 0%
- 15%
- 1
- 30
₹
₹
Apply for home loan Get a callback
₹
- ₹5,00,000
- ₹3,00,00,000
%
- 1
- 21
- 12
- 360
%
- 1%
- 21%
- 12
- 360
Your Existing Home Loan
ICICI Bank Home Loan
₹ 30,000
₹ 20,000
Monthly EMI
You Save ₹10,201/month
₹ 30,000
₹ 20,000
Total Amount Paid
₹24,48,240
TRANSFER YOUR LOAN Get A Callback
₹
- ₹0
- ₹1Cr
₹
- ₹10k
- ₹1Cr
₹
- ₹0
- ₹1Cr
%
- 0%
- 15%
- 1
- 30
₹65,43,590
₹50,43,590
₹60,000
₹40,000
Apply For Home Loan Get a callback
Apply for home loan
Value Added Services
Learn more about home loans!
Blogs, Videos and Tools curated just for you, to guide you through your home loan journey.
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Choose your dream home from 48,000 approved properties with ICICI Bank’s list of approved projects
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Resale Services
Do you want to buy a resale property?
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CIBIL Score
Check Your CIBIL Score, Elevate Your Financial Potential with ICICI Bank, and Secure Better Opportunities for Financial Peace of Mind Today.
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Home Loan Eligibility
Eligibility Criteria | Salaried and Self-Employed |
|---|---|
Income Criteria | Minimum salary for ICICI Bank Home Loan: Rs 25,000 |
Age Criteria | Minimum: 21 years, Maximum: 70 years |
Loan Tenure | Up to 30 years |
Loan Amount | No cap, depending on your eligibility |
Nationality | Indian |
Home Loan Interest Rates & Charges
Special Home Loan Interest Rates | ||
|---|---|---|
CIBIL | Salaried | Self-Employed |
>800 | 9.00% | 9.00% |
750-800 | 9.00% | 9.10% |
Standard Home Loan Interest Rates | ||
Loan Slab | Salaried | Self-Employed |
Up to ₹ 35 lakhs | 9.25% - 9.65% | 9.40% - 9.80% |
₹ 35 lakhs to ₹ 75 lakhs | 9.50% - 9.80% | 9.65% - 9.95% |
Above ₹ 75 lakhs | 9.60% - 9.90% | 9.75% -10.05% |
Home Loan Fees & Charges | ||
Processing Fees | 0.50% of the loan amount+ AT* | |
Prepayment Charges | Nil | |
The above rates are linked to Repo Rate:
* Current Repo rate 6.50%.
*Valid till31st March, 2024
Documents required to apply for a Home Loan
- Submit your Aadhaar card, passport or driving licence for KYC
- For address proof, your utility bills, or rent agreement with your current address works fine
- *For income proof, ICICI Bank needs your salary slips, income tax returns or Form 16
- Submit the title deeds of the property and construction approvals
- **Prove your financial stability by submitting bank statements for the last 6 months
- Provide your job offer or appointment letter for a stress-free experience
- If applicable, submit your co-applicants’ documents for joint loan applications.
NOTE: No salary slip is required in case the customer has a salary account at ICICI Bank.
Explore our uniqueHome Loan solutions
Express Home Loan
Get your home loan instantly with ICICI Bank Express Loans.
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NRI Home Loan
A unique loan for NRIs with low interest rate and special processing fees.
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Balance Transfer
Home Loan
Transfer your home loan conveniently and get lower interest rates.
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Land Loan
Need to buy a plot for your unique vision? GetICICI Bank Land Loan now!
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Money Saver Home Loan
Pay reduced Interest On Your Home Loan
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Step Up Home Loan
Enhance your eligibility for your first Home Loan
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Loan Against
Property
Your property can help you fulfil your dreams. Avail a Loan Against Property, at lower interest rates
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Home Overdraft
Withdraw your funds anytime and pay interest only on the utilized amount
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Commercial Property Purchase Loan
Loan For Purchase / Construction Of Commercial Property Up To 75%
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Home Top Up Loan
Get A Top Up On Your Existing Loan
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Home Improvement Loan
Renovate your Home Loan with our Home Improvement loan
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Home Loan Reviews
8 reviews
I want to express my sincere appreciation for the Relationship Manager who assisted me with my Home Loan application. His follow-up and guidance was instrumental in making the loan process fast and efficient. It took less than two days for the sanction. The disbursem*nt was quick, covering the legal and technical aspects which is not possible with other banks. Thank you for such dedicated supportand exceptional service.
Peddintli Rao Dodda
I availed Home Loan from ICICI Bank and I will highly recommend it. The application process was simple, documentation requirements were clear and the Bank's team was responsive and professional. The loan approval and disbursal were on time and the transparency of the terms and conditions was commendable. Overall, I had a hassle-free and satisfying experience with ICICI Bank Home Loan team. I am grateful for the support and assistance I have received from the dedicated team of ICICI Bank. I am looking forward to a long and trusted relationship with ICICI Bank.
Abhishek Gupta
ICICI Bank and its Relationship Manager made my Home Loan process as simple as it could be. It just took 3 weeks right from the first enquiry call to the loan disbursem*nt. Hats off to the team for their promptactions, timely reminders for documents, closure of tasks etc. I will share my wonderful experience with others and strongly recommend ICICI Bank Home Loan to everyone. Thanks team.
Suraj Srivastava
I wanted to thank the Relationship Manager of ICICI Bank for his outstanding professionalism, dedication and customer focused approach. I was a bit worried about buying property in India while I was based in the UK with the additional complication of Power of Attorney executed by aged parents. Our Relationship Manager took us through the whole process with complete clarity of inputs, documents and evidences required for execution. We were able to complete the process and register the property in a timely manner. Moving through the red tape and registering a property within a week of a person flying to India is like a miracle for an NRI.
Basaveshwara Mahadevaiah
I would like to thank my Relationship Manager for his help and guidance while processing my Home Loan application. The quick approach that he followed in processing my application is commendable. I was attended to with utmost professional attitude and perfection and all my queries were resolved. I especially appreciate his efforts that he made me feel extremely comfortable while discussing the procedures and comprehensive processes of documentationof Home Loans provided by ICICI Bank to NRIs.
Kamini Pandey
Thank you very much for making our Home Loan experience hassle-free and convenient. I have taken Home Loans earlier from other banks, but this experience has been the best. ICICI Bank's vision, ‘Fair to Customers, Fair to Bank’ is very true and can be seen in practice. The commitment and sincerityshownby ICICI Bank employees is really appreciated.
Laxmi Malipatil
Thanks to my Relationship Manager for all the help in getting my loan disbursed. I still remember the day when I told him about the property in Mysore and I was little sceptical whether the loan would be processed or not. His approach to the case and knowledge is what impressed me.His prompt responses to all my messages, questions, and guidance in making me understand the calculations werevery helpful.
People like him are an asset to the organisation.All the best!!!
Suraj Krishnadas
Thanks to my RM for helping me on my Mortgage Loan with the paperwork and closing it. I really liked her positive attitude and commitment to work. Excellent communication,coordination and ability to get things done distinguish her from the mass.
I loved the way she followed up with the customers and on top of it, collaborating with her teammates and making things happen. She is an asset to the NRI Mortgage team and ICICI Bank is lucky to have a team player like her. She understood that we have busy schedules and coordinated accordingly, making sure to update us at every step. She exemplifies the principles of ‘customer obsession’ and ‘ownership’. She treats every request with utmost professionalism and tries her best to deliver things. Wishing her all success in the current and future assignments.
Susila Jonnalagedda
Home Loan FAQs
What is a home loan?
A home loan is essentially a financing option where funds are provided to an individual or an entity for the purchase, construction, extension, or renovation of a residential or commercial property. Lenders provide funds upfront, and borrowers repay through monthly installments, usually over many years. It's crucial for prospective homeowners to understand the terms, interest rates, tenure, and eligibility criteria before applying.
How do I apply for a home loan?
You can apply for a home loan from ICICI Bank through our website www.icicibank.com. Or, you could visit the nearest branch of ICICI Bank to submit your application for a loan.
What are the documents required to apply for a home loan?
Here are mandatory documents required for home loan such as a proof of identity, a proof of address, a loan application form that has been duly filled and your financial documents.
What are the parameters for arriving at Housing Loan eligibility?
Home Loan eligibility is determined by factors like age, income, employment stability, credit score, existing financial obligations and nationality. For ICICI Bank, applicants aged 20-65 (salaried) or 21-70 (self-employed), with a minimum income of Rs 25,000, stable employment or business record, a good credit score of 700+, and Indian nationality are eligible. These parameters ensure a comprehensive assessment aligning with the bank's policies and regulations.
How is the Equated Monthly Instalment (EMI) for a home loan calculated?
The Home Loan EMI is calculated on the basis of specific factors like the amount of the loan, its tenure and the rate of interest.
What do you understand by floating rate of interest in Home Loan?
A floating rate of interest is linked to a benchmark rate. As per guidelines of RBI, floating rate Home Loans from banks are linked to external benchmark rates. ICICI Bank’s floating rate of interest is linked to Repo Rate declared by RBI from time to time. So, rate of interest of your housing loan changes in line with the Repo Rate. As a result, the EMI or the tenure of your loan will increase or decrease, depending on the change in the rate of interest.
What is the meaning of a fixed rate of interest on a home loan?
A fixed rate of interest on aHousing loan means that the rate of interest does not change throughout the tenure of the loan. Regardless of market fluctuations, the borrower pays the same interest rate through the same equated monthly installments (EMIs) from the loan's inception to its conclusion. This stability provides predictability in monthly payments, allowing homeowners to plan their finances without being affected by interest rate variations in the market.
Is there any tax benefit available on home loans?
Yes, home loans offer tax benefits. You can claim the amount paid towards the repayment of the principal and the interest components as deductions in your income tax return. The limits on the amount deductible are governed by the applicable income tax laws.. In India, under Section 24(b), the interest paid on a home loan is eligible for deduction up to Rs 2 lakh per year. Additionally, under Section 80C, the principal repayment is eligible for a deduction of up to Rs 1.5 lakh. These tax benefits make home loans an attractive financial instrument, encouraging homeownership while providing potential savings on taxable income.
What are the Types of Housing Loans available in India?
In India, home or housing loans are diverse, tailored to specific needs.
- Home Purchase Loans fund the acquisition of new or existing homes, while Home Improvement Loans facilitate renovations.
- Home Construction Loans support building on owned land, and Home Extension Loans aid expansion. Land Loans target acquiring land for future construction.
- Joint Home Loans involve shared liability among co-applicants.
- Home Loan Balance Transfers allow shifting an existing loan to a new lender for improved terms.
Apart from these, ICICI Bank also offers Home Top Up Loans for increasing existing home loan amounts, Commercial Property Purchase Loans, Home Overdraft, Loans Against Property, and Money Saver Home Loans. This variety accommodates the multifaceted requirements of all types of borrowers.
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