ICICI Bank home loans offer affordability, flexibility and a host of other benefits to make your home loan journey a smooth one. But like any other home loan, it’s important to do your own research and ensure that an ICICI Bank home loan is the right fit for you.

To help you make a decision, we’ve compiled everything you need to know about ICICI Bank home loans in this comprehensive review.

What is ICICI Bank?

ICICI Bank is one of India’s leading banks, offering a wide range of banking products and services to both retail and institutional customers.

ICICI Bank home loans are just one of the many products on offer. As of March 2020, ICICI Bank had a home loan portfolio of over Rs. 250,000 crore and a market share of 6.6%

Types of ICICI Bank Home Loans

ICICI Bank offers a wide range of home loan products to suit the different needs of borrowers.

They offer both fixed and floating rate home loans, as well as home loans for different purposes such as home purchase, home construction, home improvement and home extension.

They also have home loans for different borrower profiles such as self-employed individuals, salaried professionals and even senior citizens.

ICICI Bank Home Loan Interest Rates

One of the key considerations when taking a home loan is the interest rate.

ICICI Bank offers both fixed and floating interest rates on their home loans.

The interest rate on a fixed rate home loan remains constant throughout the tenure of the loan, whereas the interest rate on a floating rate home loan fluctuates in line with market rates.

ICICI Bank home loan interest rates start from as low as 8.05% for a fixed rate loan and 8.35% for a floating rate loan.

ICICI Bank Home Loan Eligibility Criteria

To qualify for an ICICI Bank home loan, you must meet the following eligibility criteria:

-You must be aged 21-65 years at the time of loan application.

-You must be an Indian resident.

-You must have a regular source of income.

-You must have a good credit history.

-You must have a property to use as collateral for the loan.

ICICI Bank Home Loan Documents Required

To apply for an ICICI Bank home loan, you will need to submit the following documents:

-Identity proof such as PAN Card, Aadhar Card, Passport, etc.

-Address proof such as Aadhar Card, Passport, Driving License, etc.

-Income proof such as salary slips, bank statements, etc.

-Property documents such as property title deeds, sale agreement, etc.

ICICI Bank Home Loan Application Process

The ICICI Bank home loan application process is relatively simple and can be completed online.

To begin the process, you will need to fill in an online application form with your personal and financial details.

Once your form is submitted, an ICICI Bank customer care representative will get in touch with you to discuss your loan options and help you complete the application process.

ICICI Bank Home Loan EMI Calculator

An EMI or Equated Monthly Installment is the amount you will need to pay each month towards the repayment of your home loan.

You can use an EMI calculator to calculate your monthly EMI payments.

To use the ICICI Bank home loan EMI calculator, you will need to enter the loan amount, interest rate and loan tenure.

The calculator will then generate a detailed table showing the break-up of your EMI payments.

ICICI Bank Home Loan Customer Care

If you have any questions or concerns about your ICICI Bank home loan, you can contact their customer care team.

The team is available 24/7 and can be reached at 1800-103-8181 or [email protected]

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