Thinking about switching your home loan to ICICI Bank for better rates? The ICICI Home Loan Balance Transfer Calculator makes it easy to see how much you can save! Just enter your current loan details—like the outstanding amount, interest rate, and tenure—and compare it with ICICI Bank’s offer.
ICICI Bank Home Loan Balance Transfer Highlights
| Highlights | Details |
|---|---|
| Interest Rate | 8.75% p.a. onwards |
| Loan Amount | As per applicant’s eligibility |
| Tenure | Up to 20 years |
| Processing Fees | Up to 2% of the loan amount |
ICICI Bank Home Loan Balance Transfer Interest Rate 2025
ICICI provides home loans with interest rates that reflect current market conditions and are influenced by factors like your CIBIL score. You can choose a fixed rate or a floating rate, according to your financial situation.
| Slab | Salaried | Self-employed |
|---|---|---|
| Up to Rs. 35 lakh | 9.25% p.a. – 9.65% p.a. | 9.40% p.a. – 9.80% p.a. |
| Rs. 35 lakh to Rs. 75 lakh | 9.50% p.a. – 9.80% p.a. | 9.65% p.a. – 9.95% p.a. |
| Above Rs. 75 lakh | 9.60% p.a. – 9.90% p.a. | 9.75% p.a. – 10.05% p.a. |
Suggested Read: ICICI Bank Customer Care
ICICI Bank Pre Approved Home Loan Balance Transfer
- Available for existing ICICI Bank customers with a Home Loan, Loan Against Property (LAP), or Commercial Property Loan from other banks/financial institutions.
- Use the saved amount for children’s higher education, retirement corpus, or Systematic Investment Planning (SIP).
- Get pre-approved loan sanction with no documentation required.
- Avail an additional Loan Top-up along with the balance transfer.
- Transfer up to ₹1 crore for better financial flexibility.
Suggested Read: ICICI Bank Home Loan Top Up
ICICI Bank Home Loan Balance Transfer Eligibility Criteria
Before applying for a home loan, it’s essential to understand the eligibility criteria. Here’s the essential eligibility checklist set by ICICI:
| Eligibility Criteria | Requirement |
|---|---|
| Age | Salaried: 20 to 65 years Self-employed: 21 to 70 years |
| Income | Minimum salary of ₹25,000 per month |
| Employment Stability | Self-employed individuals must demonstrate a stable business track record |
| Credit Score | A good credit score of 700 or above |
| Nationality | Indian citizens are eligible |
ICICI Bank Home Loan Balance Transfer Fees and Charges
| Charge Type | Details |
|---|---|
| Processing Fee | Up to 2% of the principal amount or Rs. 3,000 (whichever is higher) |
| Prepayment Fee | – Floating Rate: No fee – Fixed/Top-Up: 2% of the outstanding principal plus applicable taxes |
| Conversion Fee | If prepayment charges apply: • Floater to Fixed: 0.5% of the outstanding principal + taxes • Dual Fixed to Floater: 0.5% of the principal + taxes • Floater to Dual Fixed: 0.5% of the principal + taxes • Lifetime Fixed to Floater: 1.75% of the principal + taxes If prepayment charges do not apply: Rs. 1,000 plus taxes |
| Repayment Mode Swap | Rs. 500 |
| Document Retrieval Fee | Rs. 500 |
| Duplicate NOC Fee | Rs. 100 |
| CIBIL Report Fee | Rs. 50 |
| Administrative Charge | Rs. 5,000 or 0.25% of the loan amount (whichever is lower), plus applicable taxes |
| Cheque Bounce Fee | Rs. 500 |
Suggested Read: Download ICICI Bank Home Loan Tax Certificate
ICICI Bank Home Loan Balance Transfer Documents Required
When applying for a home loan with the ICICI, you will need to provide specific documents that verify your identity, income, and property details. Below is a detailed list:
KYC Documents Required for ICICI Bank Home Loan Balance Transfer
| Document Type | Required Documents |
|---|---|
| KYC Documents | PAN Card/ Aadhaar Card/ Residence Proof |
Income Documents Required
| For Salaried Individuals | For Self-employed and Professionals |
|---|---|
| Salary slip and Form 16 | Last 3 years of income tax returns with financials |
| Last 6 months of bank statements | Last 6 months of bank statements |
Other Documents Required
| Document Type | Required Documents |
|---|---|
| Other Documents | Latest principal outstanding letter List of documents from existing financier Repayment track record |
Pre-approved Home Loan Balance Transfer Documents
| Document Type | Required Documents |
|---|---|
| General Documents | Passport size photo Last 6 months’ bank statements Last 3 months’ salary slip or Income Tax returns |
| Property Documents | Relevant property documents for verification |
Suggested Read: ICICI Bank Home Loan Tax Benefits
Home Loan Balance Transfer Interest Rates by Top Banks
| Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
|---|---|---|---|
| Bajaj Housing Finance | 8.50% p.a. onwards | 8.50% p.a. onwards | 8.50% p.a. onwards |
| SBI | 8.50%-9.85% p.a. | 8.50%-9.85% p.a. | 8.50%-9.85% p.a. |
| HDFC Bank Limited | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| LIC Housing Finance | 8.50% – 11.25% p.a. | 8.50% – 10.55% p.a. | 8.50% – 10.75% p.a. |
| ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| Kotak Mahindra Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| PNB Housing Finance | 8.50% – 14.50% p.a. | 8.50% – 14.50% p.a. | 8.50%-11.45% p.a. |
| Punjab National Bank | 8.45% – 10.25% p.a. | 8.40% – 10.15% p.a. | 8.40% – 10.15% p.a. |
| Bank of Baroda | 8.40% – 10.65% p.a. | 8.40% – 10.65% p.a. | 8.40% – 10.90% p.a. |
| IDFC First Bank | 8.85% p.a. onwards | 8.85% p.a. onwards | 8.85% p.a. onwards |
| L&T Finance Limited | 8.65% p.a. onwards | 8.65% p.a. onwards | 8.65% p.a. onwards |
| Tata Capital Housing Finance | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| Federal Bank | 8.80% p.a. onwards | 8.80% p.a. onwards | 8.80% p.a. onwards |
| Axis Bank | 8.75%-13.30% p.a. | 8.75%-13.30% p.a. | 8.75%-9.65% p.a. |
| Godrej Housing Finance | 8.55% p.a. onwards | 8.55% p.a. onwards | 8.55% p.a. onwards |
ICICI Bank Home Loan Balance Transfer Benefits
- Competitive Rates: Lower borrowing costs.
- Reduced EMIs: More manageable monthly payments.
- Interest Savings: Lower overall loan cost.
- Flexible Terms: Customizable repayment options.
- Quick Process: Fast approval and minimal documentation.
- Expert Support: Dedicated guidance throughout.
Suggested Read: ICICI Bank Home Loan Statement Download
ICICI Bank Home Loan Balance Transfer: Case Study
- Outstanding Principal (P): Rs.70,00,000
- Existing Annual ROI: 10.5%
- Remaining Tenure (T): 20 years
- New Annual ROI (NROI): 9.45%
- New Tenure (NT): 20 years
Calculated Outputs
| Output | Calculated Value |
|---|---|
| Existing EMI (E) | Rs.69,887 |
| New EMI (NE) | Rs.65,021 |
| Monthly Savings (ES) | Rs.4,866 |
| Total Savings (S) | Rs.11,67,791 |
In this example, the calculator determines that by transferring the home loan to ICICI Bank at a reduced interest rate (from 10.5% to 9.45%) while keeping the tenure unchanged, the borrower enjoys:
- A reduction in EMI from Rs.69,887 to Rs.65,021.
- Monthly savings of approximately Rs.4,866.
- Total savings of around Rs.11,67,791 over the loan period.
Home Loan Balance Transfer Processing Fees by Top Banks
| Bank | Home Loan Processing Fee |
|---|---|
| SBI (State Bank of India) | 0.35% of the loan amount (min ₹2,000, max ₹10,000) + GST |
| HDFC Bank | Upto 0.50% of the loan amount or Rs. 3300/- whichever is higher |
| ICICI Bank | 0.50% of the loan amount (min ₹3,000, max ₹5,000) + GST |
| Axis Bank | 1% of the loan amount or ₹10,000 (whichever is lower) |
| Kotak Mahindra Bank | 0.5% – 1.00% of the loan amount |
| Bajaj Housing Finance | Up to 4% of the loan amount |
Suggested Read: ICICI Bank LAP
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- Lowest Interest Rates: Save more with every EMI.
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- Expert Guidance: Lifetime support from our team of specialists.
Compare, choose, and secure the best ICICI Bank Home Loan Balance Transfer offer with Credit Dharma — your home loan journey starts here!
Frequently Asked Questions
Individuals with a minimum CIBIL score of 700 (salaried) or 750 (self-employed) are eligible.
Transferring can be beneficial if ICICI offers a lower interest rate than your current lender.
Identify a suitable lender, apply for the loan, submit required documents, close the existing loan, and sign a new agreement.
Potential drawbacks include processing fees and the time required for documentation.
HDFC Home Loan
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