ICICI Bank Home Loan

  • Interest Rate starting at 6.95%
  • Loan Tenure up to 30 years
  • Processing Fees is 1-2% of loan amount + GST
Get ICICI Bank Home Loan

ICICI Bank offers home loans to both salaried and self-employed individuals starting at just 6.99%. They offer a range of schemes with attractive benefits at low processing fees and a tenure that extends up to 30 years. They also come with home loan insurance to cover the loan repayment in case of unforeseen situations like the borrower’s death or accident. 

They also come with the Home Loan Balance Transfer and Top-Up facilities, offering borrowers up to 100% of the original loan amount, with quick disbursement.

ICICI Bank Home Loan Summary
Interest Rate 6.95% onwards
6.95% onwards Depends on the applicant’s credit profile
Loan Tenure Up to 30 years
Processing Fees 1% – 2% of loan amount (Min. Rs.1,500) + GST

Note : The above rates are subject to change at the discretion of the banks or on the basis of RBI directives.

ICICI Bank Home Loan Eligibility

Criteria for different ICICI Bank Home Loan schemes may differ but the common ones are:

An Applicant must be:
  • An Indian Resident
  • Salaried or self-employed
  • Between 21 and 65 years of age
  • Minimum age of co-applicant must be 18

Find out how much ICICI Bank Home Loan you’re eligible for with the Fincity Home Loan Eligibility Calculator.

Enter the required details into the calculator and it will give you the result in seconds.

ICICI Bank Home Loan Interest Rates

ICICI Bank Home Loans are linked to external benchmarks like the RBI repo rate, and fluctuations in the benchmark causes the interest rate to vary. It also depends on factors such as the applicant’s credit score, employment type and required loan amount. Currently, their home loan interest rate starts from 6.95%.

ICICI Home Loan Schemes For Salaried (RLLR-linked Interest Rate) For Self-Employed (RLLR-linked Interest Rate)
ICICI Home Loan 6.95% – 9.10% 9.00% – 9.20%
30 Year Home Loan 10.05% – 14.85% 10.05% – 14.85%
Step Up Home Loan 8.55% – 9.50% 8.60% – 9.55%
Rural Housing Loan 8.65% – 9.95% 8.70% – 9.95%
Home Improvement Loan 8.55% – 9.50% 8.60% – 9.55%
Home Extension Loan 8.55% – 9.50% 8.60% – 9.55%
Top Up Loan 8.55% onwards 8.55% onwards

Note :The above rates are subject to change at the discretion of the banks without prior notice.

ICICI Bank Home Loan Processing Fees & Charges

Here’s a list of the processing and other fees charged by ICICI Bank when you apply for a Home Loan.

Particulars Applicable Fees & Charges
Loan Processing Charges / Renewal Charges

1% – 2% of the loan amount or Rs.1500/- (Rs.2000/- for Mumbai, Delhi and Bengaluru), whichever is higher 

Prepayment Charges
  • NIL for ICICI Home Loans and ICICI Home Improvement Loans with a floating rate of interest
  • 2% on the outstanding principal on full repayment for ICICI Bank Home Loan with a fixed rate of interest
  • 2% on the outstanding principal on full repayment for Top Up Loan if the applicant or co-applicant is Non-Individual
  • 4% on the outstanding amount of loan where the loan is given toNon Individualborrowers or with a fixed rate of interest to Individual borrowers. 
Charges for late payment
  • Home Loans: 2% per month
  • Home OD: 1.5% of the outstanding amount subject to a minimum of Rs. 500/- & Maximum of Rs.5000/-
Conversion charges for ICICI home loans
  • Floating to Floating: 0.5% of the principal outstanding
  • Dual fixed rate to Floating: 0.5% of the principal outstanding
  • Floating to Dual fixed rate: 0.5% of the principal outstanding
  • Lifetime fixed to Floating: 1.75% of the principal outstanding
Repayment mode swap Charges

Rs.500 

Document Retrieval Charges

Rs.500 

Cheque bounce charges

Rs.500 

Duplicate No Objection Certificate / No Due Certificate

Rs.100 

Revalidation of No Objection Certificate

Rs.100 

Administrative Charges

Rs.5000 

CIBIL Report Charges

Rs.50 

Legal, Repossession and Incidental Charges

At Actuals

Note :The above rates are subject to change at the discretion of the banks without prior notice.

ICICI Bank Home Loan EMI Calculation

Knowing your ICICI Bank Home Loan EMI for every scheme from the start can help you narrow down the right one for you! Use the Fincity Home Loan EMI calculator to enter your loan amount, tenure and interest rate, and find out the EMI amount in each case right away.

ICICI Bank Home Loan Documents Required

Here are some documents you will require to avail of an ICICI Home Loan:

For Salaried Individuals: 

  • Application form with photograph duly signed 
  • Identity, residence and age proof 
  • Last 6 months bank statements 
  • Last 3 months Salary-slips 
  • Processing fee cheque 
  • Form 16 / Income Tax Returns 

For Self Employed Professionals / Self Employed Non-Professionals: 

  • Application form with photograph duly signed 
  • Identity, residence and age proof 
  • Last 6 months bank statements 
  • Processing fee cheque 
  • Form 16 / Income Tax Returns 
  • Proof of business existence 
  • Education qualification certificate and proof of business existence 
  • Last 3 years Income Tax Returns with computation of Income 
  • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Note : Required documents must be self-attested and may slightly differ.

The interest rate for salaried individuals starts at 9.95% and self-employed applicants starts at 8.80%. Documentation is simple and loan sanction is fast. Borrowers with an ICICI Bank salary account can apply for this loan.

This scheme is available to women and other individuals that are employed by a specific set of companies. They come with a higher loan eligibility, attractive interest rates and a loan repayment tenure of up to 30 years.

This helps borrowers with funds to add additional spaces (such as a room or balcony) to their existing house. Borrowers can avail up to 90% of the property value (limited to Rs.15 lakhs) as loan under this scheme and repay it through a maximum tenure of 20 years. Women and individuals in the lower income groups can apply for this loan. Note: One can also avail of this scheme to acquire, construct, repair or renovate a house in rural areas.

This scheme is designed to help borrowers who want to purchase a plot of land for the construction of a house. The property should be completed within two years from date you receive the first disbursement.

Under this scheme, borrowers can get a higher loan amount by up to 20% and they can repay it up to 67 years of age. Self-employed applicants, and young and middle aged salaried individuals (up to 37 and 48 years respectively) are eligible for this loan. This loan scheme is offered in association with Indian Mortgage Guarantee Corporation (IMGC), a joint venture between National Housing Bank, Genworth Financial Inc., Asian Development Bank and International Finance Corporation.

With this, borrowers can avail up to 90% of the property value as loan, limited to a maximum Rs.15 lakhs. This loan can be taken by women and the weaker income section of the Indian society, and the repayment period extends till 20 years.

This scheme can be availed by both salaried and self-employed individuals for the purpose of home loan and home improvement. It allows customers to avail up to Rs.50 lakhs loan for a tenure of up to 20 years. It also comes with an easy balance transfer facility. To be eligible for this scheme, salaried applicants must earn at least Rs.10,000 per month with a minimum work experience of a year while self-employed individuals should have a business portfolio extending 5 years at least with 3 years in the current business.

The home loan leap doesn’t have to be a stressful one - especially when you have Fincity advisors by your side along the way!

Reach out to a home loan expert at hl@fincity.com for free assistance on the lowest rate home loans now!