ICICI Home Loan Interest Rates
ICICI Home Loan Interest Rates - Updated in July 2022
ICICI, India’s largest bank, provides lucrative interest rates for home loans. They start as low as 7.05% p.a. The loan tenure ranges to a maximum 30 years. If you are looking to get a home loan, here’s all you need to know about interest rates charged by ICICI on home loans.
Smart Home Top-up | Reverse Mortgage Loan | Earnest Money Deposit | Insta Top-up YONO and INB | HL for Kerala Government employees | ||
---|---|---|---|---|---|---|
Term Loan | Overdraft | Overdraft | Term Loan | Max Gain | ||
7.65% | 8.05% | 9.45% | 10.85% | 7.65% | 7.20% | 7.55% |
*Interest rate is floating and linked to Repo Rate.
*Above table includes Flexipay, NRI home loan, home loans to non-salaried – differential offering, privilege, Shaurya and Apon Ghar.
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What Other Fees & Charges are Applicable?
ICICI charges a consolidated processing fee (including Advocate Fee and Valuer Fees) of 0.40% of the loan amount, subject to a minimum charge of Rs 10,000 and maximum of Rs 30,000, plus applicable GST.
Which ICICI Home Loan Scheme is Right for You?
ICICI Flexipay Home Loan
- The interest rate depends on your credit score
- Younger professionals will get a 20% concession in their home loan eligibility
- Step-up EMI
ICICI Regular Home Loan
- Interest rate starting from 6.90%
- Zero charges in case of pre-payments
- Applicants must be of 18 to 70 years
- 0.05% concession for women
ICICI Privilege Home Loan
- Interest rates starting from 6.95% p.a. with check-off
- Interest rates starting from 7% p.a. without check-off
- Fully waived processing fee
ICICI Tribal Plus
- Especially available for individuals living in hilly regions or tribal areas
- Interest rate is available at 10bps over the final rate
- Maximum repayment tenure: 15 years
- No requirement for land mortgage
ICICI Shaurya Home Loan
- Specifically available for the armed forces and defense personnel
- Longer loan tenure and low rate options
- No need for processing fee
ICICI Pre-Approved Loan
- The interest rate for salaried male starts from 7% onwards
- The interest rate for salaried female starts from 6.95% onwards
- The interest rate for non-salaried male starts from 7.15% onwards
- The interest rate for non-salaried female starts from 7.10% onwards
ICICI Home Loan to Non-Salaried Differential offerings
- The interest rate for salaried male starts from 7.15% onwards
- The interest rate for salaried female starts from 7.10% onwards
- Exclusive scheme for applicants who don't earn a proper monthly salary but have an income
- It is also available for directors, partners, and proprietors
ICICI Earnest Money Deposit
- Interest rate of 10.45% p.a.
- The loan plan the booking advance for a plot or house
- Maximum loan tenure: 1 year
ICICI Bridge Home Loan
- The interest rate for 1st Year starts from 6.95% onwards
- The interest rate for the 2nd year starts from 6.95% onwards
- Available for individuals for are buying one property while selling another
- Maximum repayment tenure: 2 years
ICICI NRI Home Loan
- The interest rate for salaried male starts from 7% onwards
- The interest rate for salaried female starts from 6.95% onwards
- The interest rate for non-salaried male starts from 7.15% onwards
- The interest rate for non-salaried female starts from 7.10% onwards
ICICI Corporate Home Loan
- Exclusively available for corporate who want to purchase or construct residential buildings for their employees
- It is available to both private and public limited companies
- 0.5% processing fee ranging from Rs. 50,000 to Rs. 10,00,000
ICICI Realty Home Loan
- Ideal for individuals who want to purchase a plot for constructing their own house
- Borrowing loan amount limit: Up to Rs. 15 crore
- Maximum repayment tenure: 10 years
How to Calculate ICICI Home Loan EMI?
Take the following steps to calculate your home loan EMI:
Step 1: Visit the official Magicbricks home loan EMI calculator site
Step 2: Enter the amount of loan that you want to borrow from ICICI
Step 3: Fill in your preferred maximum loan tenure
Step 4: Enter the correct interest rate
Step 5: Click on the 'Calculate Your EMI' option
ICICI Home Loan Eligibility Criteria
To know the ICICI home loan eligibility criteria check the following points –
- Type of Resident who are eligible: Indians and NRIs (Non-Resident Indians)
- The age range of the home loan applicants: 21 to 65 years
- Minimum Monthly incomes of primary ICICI home loan applicants: Rs. 15000
- Co-applicant minimum monthly income: Rs. 10,000
How to Apply for ICICI Home Loan
- Through Magicbricks: Go to the official ICICI Home Loan page on Magicbricks. Scroll down to & apply for a home loan from ICICI Bank.
- Through ICICI Online Portal: Visit the official ICICI portal and fill up the loan form. This portal also allows applicants to check their status easily.
- Through an ICICI branch office: If you want to avail of the loan directly from ICICI then visit your nearest ICICI branch.
Useful Links
ICICI Home Loan Customer Care | ICICI PMAY Scheme | ICICI Home Loan Statement |
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Bank Wise Rate
Bank of Baroda Home Loan Interest Rate
HDFC Home Loan Interest Rate
ICICI Bank Home Loan Interest Rate
PNB Home Loan Interest Rate
Indian Bank Home Loan Interest Rate
SBI Home Loan Interest Rate
Bajaj Home Loan Interest Rate
Union Bank Home Loan Interest Rate
Sundaram Home Loan Interest Rate
L&T Home Loan Interest Rate
Cholamandalam Home Loan Interest Rate
Magma Home Loan Interest Rate
Karnataka Bank Home Loan Interest Rate
Citi Bank Home Loan Interest Rate
Axis Bank Home Loan Interest Rate
Kotak Mahindra Bank Home Loan Interest Rate
YES Bank Home Loan Interest Rate
IIFL Finance Home Loan Interest Rate
LIC Home Loan Interest Rate
Bank of India Home Loan Interest Rate
Canara Bank Home Loan Interest Rate
Central Bank Home Loan Interest Rate
IDBI Home Loan Interest Rate
AU Small Finance Bank Interest Rates
Indiabulls Home Loan Interest Rate
Shubham HF Home Loan Interest Rate
Personalized Deals
Pre Approved Home Loan
Home Loan for Salaried
Home Loan for Govt Employees
Home Loan for Self Employed
Home Loan without Income Proof
Home Loan Tax Benefits
Home Loan Insurance
Home Loan Subsidy
Home Loan Equity
Joint Home Loan
Second Home Loan
Plot Loan
Home Loan FAQs
It is a straightforward tool that allows you to calculate ICICI home loan EMI in advance on your home loan. You need to fill in your loan amount, tenure, and interest rate to calculate the EMI.
Calculating your monthly EMI before applying for a home loan will enable you to identify the future costs associated with the loan. Based on your financial stability, you can assess the various loan options by changing the maximum loan amount and tenure.
Prepaying a part of your home loan much before the end of its tenure will help to reduce the EMI payments. However, banks will charge a certain penalty fee for prepayment allowance.
ICICI allows a maximum home loan tenure of 30 years (360 months).
ICICI offers home loans within the range of 10 lakh to 10 Crore (INR).
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