ICICI Home Loan

ICICI Bank Home Loans, offer unbeatable benefits to ensure that you get the best deal without any hassles.

As one of the leading home loan provider, ICICI Bank understands how special building a new home is for you and our Home Loan help you lay the foundation for your dream home.

ICICI offers you the most convenient home loan plans to suit your needs. With so many attractive features in every type of home loan we offer, creating the home you always wanted is no longer a distant dream. Some of our key benefits are:

• Guidance through out the process
  
• Home loan amounts suited to your needs
  
• Home Loan tenure upto 20 years
  
• Simplified documentation
  
• Doorstep delivery of home loan papers
  
• Sanction approval without having selected a property.
  
• Free Personal Accident Insurance (Terms & Conditions)
  
• Insurance options for your home loan at attractive premium
  

No matter what the requirement, we have an appropriate plan for you.Get the best deals, and finance your perfect home, only from ICICI Bank.

ICICI Bank announces it's Base Rate, valid from January 3, 2011

ICICI Bank has announced a shift in the existing benchmark rate from Floating Reference Rate (FRR)/ I-BAR the Base Rate (I-Base). The same will be effective for all it's mortgage products from July 1, 2010.

The current ICICI Bank Base Rate (I-Base) is at 8.25%. This is the minimum rate that ICICI Bank will charge to its new customers. 

Loan Amount

With ICICI Bank Home Loans, you can get a home loan suited to your needs. The home loan amount depends on your repayment capability and is restricted to a maximum of 80% of the cost of the property or the cost of construction as applicable. A number of factors are taken into account when assessing your repayment capacity. Repayment capacity takes into consideration factors such as income, age, qualifications, number of dependants, spouse's income, assets, liabilities, stability, continuity of occupation and savings history.

However, there are ways by which you can enhance your eligibility.

If your spouse is earning, put him/her as a co-applicant. The additional income shall be included to enhance your loan amount. In case of any co-owners they must necessarily be co-applicants.

The final amount to be sanctioned will depend on your repayment capacity. However, what you ultimately are entitled to will have to conform within the limits fixed for each loan.

Also, when the company looks at the total cost, registration charges, transfer charges and stamp duty costs are included. 

Documents required for the Sanctioning of Home Loan

 

ICICI Bank, offers attractive interest rates and unbeatable benefits to ensure that you get the best deal without any hassles. Keeping your convenience in consideration, we ask you for minimal mandatory documents for the sanctioning of your Loan Against Property. We require the following documents to sanction your Loan Against Property:

• Duly Completed Application Form
• Photograph
• Fee cheque
• Photo Identity Proof
• Signature Verification Proof
• Residence Address Proof
• Property documents as required

Document specific for Salaried

• Last 3 months' salary slips
• Form 16
• Bank Statement for last 6 months from salary account
• Repayment details on any existing loans or loan closure letter

Document specific for Self Employed

• Income Tax Return / Computation of Total Income / Auditors Report / Balance Sheet / Profit & Loss Account certified by Chartered Accountant for last 2 years (3 years for Home Equity) (both for business and personal of partners/directors)
• Bank Statement for last 6 months from operating account
• Repayment details on existing loans or loan closure letter
• Board Resolution in case of a company
• Proof of existence of the business entity
• Proof of Office Address
• Photo Identity Proof, Residence Address Proof, Signature Verification must be provided for all the main partners / directors