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Get Home Loan Online Up to ₹ 5 Crore*

ICICI Bank offering Home Loan up to Rs. 5 Crore* online with a attractive interest rate @ 8.75%** p.a. Get benefits with minimal documentation and instant provisional sanction*. ICICI Bank offers flexible tenure options, ensuring convenient repayment. Secure the perfect Housing Loan amount and embark on your homeownership journey with confidence. Trust ICICI Bank for a seamless and customer-friendly Home Loan experience.

 

*T&Cs. Provisional sanction is subject to verification and approval of information and documents submitted to the Bank.

**T&Cs. Subject to bureau score. Applicable to customers with pre-approved Home Loan offer only.

Home Loan Calculators
  • EMI Calculator
    Check your monthly EMI
  • ELIGIBILITY CALCULATOR

    Check your Home Loan eligibility

  • Balance Transfer Calculator

    Calculate your monthly savings

  • AFFORDABILITY CALCULATOR

    Plan your finances for Home Loan

Calculate your monthly EMI

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*The EMI displayed is indicative and may vary during actual loan processing.

*The EMI displayed is indicative and may vary during actual loan processing.

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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
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65,43,590

50,43,590

60,000

40,000

*Subject to CIBIL Score and Loan Amount

Home Loan Eligibility

Determining your eligibility for a Home Loan is crucial before initiating the application process. This eligibility table will outline the key factors lenders consider, including income, credit score, employment status, age and property value, helping you assess your likelihood of approval and plan your home purchase journey effectively.

Criterion

Details

Profession

Both salaried and self-employed individuals are eligible for a Home Loan

Income

  • Salaried individuals: Minimum monthly salary of ₹ 25,000

  • Self-employed individuals: Minimum monthly income of ₹ 30,000

Age

21 years - 70 years

Loan Tenure

Up to 30 years

Loan Amount

No upper cap, loan amount sanctioned depends on your eligibility. You can apply for a Home Loan of up to ₹ 5 crore while applying online

Nationality

Indian citizen

Offline Branch Support

ICICI Bank offers a wide branch network where you can come in person for assistance with Home Loans, including help with loan applications, paperwork and speaking with our team for individualised assistance.

Home Loan Interest Rates & Charges

Explore Home Loan Interest Rates and Charges with the table given, outlining the costs and rates involved in securing your home financing.

 

Home Loan Interest Rate (Pre-approved Customers)

Pre-approved customers at ICICI Bank stand to benefit from preferential Home Loan rates, which are lower than standard rates. These rates are tailored to reward loyalty and financial stability *T&Cs. Subject to bureau score. Applicable to customers with pre-approved Home Loan offer only.

 

Current Home Loan Interest Rate

8.75%* p.a.

 

Special Home Loan Interest Rates

Special Home Loan interest rates, often lower than standard, are offered for a limited time or to eligible customers, serving as incentives or promotional offers. Below are the special Housing Loan interest rates:

 

CIBIL

Salaried

Self-Employed

>800

9.00%

9.00%

750-800

9.00%

9.10%

Standard Home Loan Interest Rates

Standard Home Loan interest rates apply uniformly to all applicants, determined by market conditions and creditworthiness. Below are the standard Housing 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 plus applicable taxes

Prepayment Charges

click here

The above rates are linked to Repo Rate:

* Current Repo rate 6.50%.

* Valid till 31st Dec, 2024

Documents required to apply for a Home Loan?

Below is the list of documents required for a Mortgage Loan:

  • Identity Proof/Address Proof: Aadhaar, Passport, Driving License, Voter ID, National Rural Employment Guarantee Act (NREGA) Card, Letter from the National Population Register (NPR) containing details of your name and address

  • DOB Proof: Passport, Driving License, Voter ID, NREGA Card, Letter from the NPR containing details of your name and address.

  • Income Proof: Salaried

    • Latest Form 16

    • Latest one-month salary slip

    • Bank statements of the last 6 months.

  • Income Proof: Self-Employed Individuals

    • Last 6 months Bank statement of all operative accounts

    • Last 2 years CA Certified/Audited Income Tax Returns (ITR), Computation of income, Profit and Loss Account Statement and Balance sheet

    • GST return of the last 1 year.

 

Disclaimer: This is an indicative list only. Additional documents may be asked for a case-to-case basis.

ICICI Bank Home Loan Features & Benefits

Generous Loan Amount

Generous Loan Amount

ICICI Bank offers up to Rs 5 crore* Home Loan online, providing ample financing options for diverse housing needs.

approval

Minimal Documentation

Our streamlined documentation process liberates you from excessive paperwork, accelerates approval and amplifies convenience for applicants.

Flexibility Tenure

Instant Provisional Sanction*

Receive swift pre-approval, enabling confident home purchases with no delays, streamlining the buying process.

*T&Cs. Subject to verification and approval of information and documents submitted to the Bank.

Online services

Flexible Tenure

Our Home Loan offers flexible tenure and repayment options, allowing borrowers to choose a schedule that suits their finances and preferences for affordability and convenience.

Minimum Documentation

No Foreclosure Charges*

We offer early loan repayment without foreclosure charges, giving borrowers financial flexibility to clear debts ahead of schedule at no extra cost. *T&Cs

nope

Competitive Fixed Interest Rates

Enjoy the security of stable fixed interest rates, ensuring predictable monthly repayments and peace of mind.

Maximising Your Home Loan Approval: Dos and Don'ts

Dos Don'ts

Investigate loan and property details thoroughly.

Avoid applying for a Home Loan on multiple aggregator sites to maintain approval chances.

Plan for unexpected expenses wisely.

Refrain from carrying excessive loans to maintain a favourable creditworthiness.

Keep all necessary paperwork organised.

Avoid overspending on Credit Cards or delaying loan repayments to prevent a negative impact on your credit score.

Improve your credit before applying for a Home Loan.

Don't commit to a Home Loan beyond your means to ensure manageable repayments.

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.

Read Homebuyers Smartbook

How do I apply for a home loan?

There are multiple ways to apply for a Home Loan with ICICI Bank: using the iMobile app or Internet Banking, on our website or by visiting any ICICI Bank Branch. Steps to apply are given below:

 

1. iMobile App

 

Follow the steps given below to apply for a pre-approved Home Loan:

 

  1. Download the iMobile app
  2. Log into the app using the required credentials
  3. Go to the ‘Transact’ tab and click on the ‘Pre-Approved Loans / Offers’ tile
  4. Scroll and search for your Pre-Approved Home Loan offer
  5. Customise your offer and fill in the information
  6. Proceed to fee payment.

 

2. Internet Banking

 

Follow the steps given below to apply for a pre-approved Home Loan:

 

  1. Log into your Internet Banking account using the required credentials
  2. Go to the ‘Loans’ section and click on the ‘Pre-Approved Home Loan’ tile
  3. After getting redirected, enter the required details and proceed ahead to pay the login fee.

 

3. ICICI Bank website

 

If you are a new customer, follow the steps below:

 

  1. Visit the ICICI Bank Home Loan portal by clicking here
  2. Enter the desired loan amount and tenure
  3. Provide the required information like PAN, Date of Birth and Aadhaar number
  4. Read and accept the disclaimer and verify using OTP to complete the KYC process
  5. Select the loan option as per your financial requirement and proceed
  6. Adjust the loan terms as per your financial standing
  7. Provide additional details like income and property information
  8. Pay the processing fee and submit.

The loan is sanctioned after verification is complete.

 

4. Branch Visit

 

Loan applications can also be done offline. Visit any ICICI Bank Branch to apply for a Home Loan in person. Fill out the application form with standard paperwork and submit the application for approval.

What are the parameters considered for deciding Housing Loan eligibility?

Eligibility for an ICICI Bank Home Loan is determined by multiple factors, including:

  1. Age: 21 – 65 years for salaried individuals, 21 – 70 years for self-employed individuals.

  2. Income: ₹ 25,000 per month as minimum salary, ₹ 30,000 per month as minimum income for a self-employed individual.

  3. Employment Stability: A steady employment or a solid track record in business is required.

  4. Credit Score: A credit score of at least 750 is ideal.

How is the Equated Monthly Instalment (EMI) for a home loan calculated?

The EMI is generally calculated using variables like the loan amount, loan interest rate and the tenure. The formula used is:-

EMI = EMI=(1+r)n−1P×r×(1+r)n​

 

  1. P = principal loan amount

  2. r = monthly interest rate (annual rate divided by 12)

  3. n = loan tenure in months

 

What is Floating Rate of Interest on a Home Loan?

Floating Rate of Interest on a Home Loan means that the interest rate is not fixed and can change over time. The change takes place according to a benchmark rate/repo rate set by the Reserve Bank of India (RBI) that can impact your overall monthly EMIs. 

What is the meaning of a fixed rate of interest on a home loan?

A fixed rate of interest on a Housing 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.

Do I need a guarantor for a Home Loan?

For ICICI Bank, the requirement of a guarantor for a Home Loan hinges upon several factors, notably the applicant's creditworthiness, income stability and the loan amount. Generally, a guarantor may not be necessary if the borrower fulfils the eligibility criteria of ICICI Bank. However, if the applicant's financial profile falls below the bank's standards, a guarantor could be requested to ensure loan repayment.

 

ICICI Bank assesses each application on its merits. Hence, consulting directly with our representative is recommended for complete guidance on your Home Loan application.

How long does it take to get a Home Loan sanctioned?

At ICICI Bank, the duration for sanctioning a Home Loan varies depending on several factors, such as the applicant’s documentation accuracy, credit history, property evaluation and the applicant's credit score.

Generally, the process can take one to two weeks. ICICI Bank usually requires thorough verification of the applicant's financial documents, such as income proof, identity proof and property documents. The time taken for property valuation and legal checks also contributes to the overall processing time. Applicants should provide all necessary documents promptly to expedite the house loan process.

What is the maximum housing loan I can get?

Your eligibility for a housing loan is determined by factors such as your income, credit score and the value of the property. Generally, lenders offer around 80-90% of the property's value. Your ability to repay and financial stability are crucial in deciding the loan amount you can receive.

How long does it take for a house loan to be disbursed?

The disbursement of a house loan usually takes a few minutes with ICICI Bank post approval. This timeline hinges on document verification, property assessment and how quickly the lender processes applications. Submitting all documents promptly can expedite the process.

Who is the co-applicant in a home loan?

A co applicant for a loan for a house is someone who applies for the loan, alongside the borrower, a spouse, parent or sibling. The co applicants income and credit history are taken into account potentially leading to a loan amount and favorable terms.

Can I repay my outstanding housing loan amount?

You have the option to repay your housing loan at any time. You can make full or partial prepayments to lower your interest expenses and shorten the repayment period. It's advisable to confirm with your lender regarding any prepayment penalties or terms.

Housing Loan Value Added Services

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Learn more about home loans!

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Track My Loan

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Owning your home is this easy

Owning your home is this easy

Choose your dream home from 48,000 approved properties with ICICI Bank’s list of approved projects

CIBIL Score

CIBIL Score

Check Your CIBIL Score, Elevate Your Financial Potential with ICICI Bank, and Secure Better Opportunities for Financial Peace of Mind Today. 

Explore ICICI Bank’s unique Home Loan solutions

Express Home Loan

Express Home Loan

Get your home loan with ICICI Bank Express Loans.

NRI Home Loan

NRI Home Loan

A unique loan for NRIs with low interest rate and special processing fees.

Balance Transfer Home Loan

Balance Transfer
Home Loan

Transfer your home loan conveniently and get lower interest rates.

Land Loan

Land Loan

Need to buy a plot for your unique vision? Get ICICI Bank Land Loan now!

Step Up

Step Up Home Loan

Enhance your eligibility for your first Home Loan

Loan against property

Loan Against
Property

Your property can help you fulfil your dreams. Avail a Loan Against Property, at lower interest rates

Home Overdraft

Home Overdraft

Withdraw your funds anytime and pay interest only on the utilized amount

Commercial property Loan

Commercial Property Purchase Loan

Loan For Purchase / Construction Of Commercial Property Up To 75%

Home Top Up Loan

Home Top Up Loan

Get A Top Up On Your Existing Loan

Home Improvement Loan

Home Improvement Loan

Renovate your Home Loan with our Home Improvement loan

Apply for Home loan
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