ICICI Bank offers a variety of home loan schemes at an interest rate starting from 8.70% p.a. Customers can get the loan at an EMI as low as Rs. 805 per lakh. ICICI also offers Credit Linked Subsidy Scheme under PMAY. Check below various ICICI home loan products along with their features, benefits, rates and charges.
|ICICI Home Loan Details|
|Interest Rate||Loan Amount||Loan Tenure||Processing Charges|
|8.70% onwards||Depends on the applicant’s credit profile||Up to 30 Years||0.5% – 1.00% of loan amount (Min. of Rs. 1,500) + GST|
Note: The figures given in the table are indicative and are subject to change as per the loan scheme at ICICI Bank’s or RBI’s discretion without prior information.
The key features and benefits of ICICI Home Loan are as follows:
- Facilitates pre-approved loans.
- Offers Home Loan insurance to make ICICI Home loan repayment easier for borrower’s family in case of their demise.
- Get tax benefit of up to Rs. 1.5 lakh on home loan.
- Offers a wide range of ICICI home loan schemes to cater to different home loan requirements of its customers
Offers loans at attractive interest rates
Value Added Offerings on ICICI Home Loan
Added benefits on ICICI Home Loan are given as follows:
- Approved projects: Get loan quickly with simple documentation by buying projects approved by ICICI Bank.
- Pre-approved home loans: ICICI bank facilitates pre-approved loans for its selected customers, thus reducing the burden of detailed documentation.
- Home loan insurance: ICICI bank keeping in mind any unforeseen incident in the user’s life, provides for Home Loan insurance to make ICICI Home loan repayment easier for the user’s near ones. These products come in two variants:
- Home Insurance and Secure Mind: This scheme is also known as a single premium long-term plan that offers no medical checkup upto a premium of 3 crore. This plan is also helpful in a tax benefit and multiple applicants can be covered under one single plan.
- Loan Protect: Provides for tax benefit and also gives the flexibility to continue life cover even after loan closure. Life coverage remains constant for 20 years. This plan also offers no medical test for premium up to 5 crore.