logo
Home Loans
Calculators
Resources
Partner with Us
Find Properties
Free Credit Report
Home > Home Loan > ICICI Home Loan > Home loan eligibility checklist for ICICI

Home loan eligibility checklist for ICICI

December 17, 2024
Table of Contents

The precise requirements for qualifying for an ICICI Bank home loan may change depending on the loan type and other variables.

ICICI Home Loan Calculator

Home Loan from ICICI Bank With the help of the hassle-free and user-friendly EMI Calculator, you can quickly and consistently get 100% accurate results when calculating your monthly installments.

Entering the desired loan amount, interest rate, processing fee, and tenure is all that is required. Click on the Calculate to see the outcome.

An amortization chart provides a comprehensive analysis of your repayment schedule.

Calculation of ICICI Bank Home Loan EMIs


Amount

10 years

20 years

30 years

Rs. 10 Lakh

Rs.12,803

Rs.9,159

Rs.8,227

Rs. 20 Lakh

Rs.25,607

Rs.18,317

Rs.16,454

Rs. 30 Lakh

Rs.51,213

Rs.36,635

Rs.32,907

Rs. 40 Lakh

Rs.64,016

Rs.45,793

Rs.41,134

The lowest interest rate, 9.25% p.a., has been factored into this loan amortization schedule. Depending on the rate that the bank offers you, your ultimate EMI amount may change.

Schemes for Home Loans from ICICI Bank

The following are the standard interest rates for home loan programs offered by ICICI Bank-

Salaried-


Slab

Floating Interest Rate

Up to 35 lakhs

9.25% to 9.65%

35 lakhs to 75 lakhs

9.50% to 9.80%

More than 75 lakhs

9.60% to 9.90%

Self Employed-


Slab

Floating Interest Rate

Up to 35 lakhs

9.40% to 9.80%

35 lakhs to 75 lakhs

9.65% to 9.95%

More than 75 lakhs

9.75% to 10.05%

Instant Home Loan from ICICI Bank

  • Preapproved home loans up to Rs. 1 crore are only offered to clients who have a payroll account with the bank.
  • No documentation is required at the time of approval.
  • Reduced processing charge

A 30-year home loan from ICICI Bank

  • Competitive interest rates on loans with both fixed and adjustable rates
  • 30-year maximum loan period extended for convenient payback
  • EMIs as low as Rs. 808 per lakh

Bank of India Increases Home Loans

  • Ideal for youthful, middle-class salaried professionals
  • Required minimum monthly income: Rs. 20,000
  • Maximum 20-year loan length
  • The interest rates are identical to those of conventional house loans.

NRI Home Loan from ICICI Bank

  • No fees for partial payments, competitive interest rates
  • Interest rates are computed using a monthly decrease.
  • Processing Fee: 2% maximum of the loan amount plus relevant taxes

ICICI Bank Yojana Pradhan Mantri Awas

Under the Pradhan Mantri Awas Yojana (PMAY), ICICI Bank provides the Credit Linked Scheme (CLSS) to qualified beneficiaries. The following groups of beneficiaries are eligible for the scheme-

  • Section Designated for Economic Weaker People (EWS) 
  • Low Income Group (LIG)
  • The first Middle Income Group (MIG-I) and,
  • The second Middle Income Group (MIG-II)

The CLSS is available to clients who want to.

  • Buy a new apartment or property
  • Build a home
  • Extend or enlarge a current home
  • Enhance or change a property’s existing structure

Advantages of the PMAY Program

  • Interest subsidy is offered upfront on the outstanding principal amount, with a range of 3.00% to 6.50%.
  • A maximum loan subsidy of Rs. 2.67 lakh may be granted, contingent upon the beneficiary’s eligibility category.
  • For up to 20 years during the loan duration, interest subsidies are available.
  • The interest subsidy’s Net Present Value (NPV) was calculated with a 9.00% discount.

ICICI Bank Home Loan Eligibility Criteria


Age

Applicant:

Minimum Age: 18 yearsMaximum Age: 65 years

                            Co-applicant:

Minimum Age: 21 yearsMaximum Age: 65 years

NRIs:

Minimum Age: 25 yearsMaximum Age: 60 years

Residency Status
Resident IndianNon-Resident Indian (NRI)

Type of Employment
SalariedSelf-employedSelf-employed professional

All ICICI Bank Home Loan Applicants Must Provide This Document



Identity Proof (any one)
Voter IDAadhaar CardValid PassportDriving LicencePAN Card


Proof of Residence (anyone)
Driving LicensePassportCopy of Utility BillsAadhaar CardVoter ID


Age Proof (any one)

Birth CertificateAadhaar CardValid PassportVoter ID


Proof of Income

The last six months’ worth of bank account statementsLatest Form 16 or Income Tax Returns

Other Documents

Check processing charge payable to the bankA properly completed loan application that includes passport-sized photos

Benefits and features of the house loan from ICICI Bank

  • Reasonably priced interest rates, as well as both fixed and floating alternatives
  • Before choosing the house, the home loan might be approved.
  • A really easy and streamlined paperwork process that is even quicker for current clients
  • With reduced EMIs, you can enjoy a longer tenure with greater freedom.
  • With the ‘Balance Transfer’ function, you can move your current house loan to ICICI Bank from any other bank. You can benefit from long-term savings from this.
  • You can benefit from an additional top-up loan amount of up to ICICI Balance Transfer. It may cover up to 100% of the initial house loan.
  • Eligibility and EMI calculators are two of the exclusive online tools available on the bank’s home loan page. The EMI calculator determines the monthly loan payback amount, while the eligibility calculator shows you how much of a house loan you can qualify for.
  • Preapproved home loans are available to a select group of clients.
  • There are loan terms available for up to 30 years.
  • For the first ten years, take advantage of a fixed interest rate; after that, you can choose between fixed and floating rates.

Transfer of the ICICI home loan balance

Customers of ICICI Bank have the option to reduce their EMI load and earn savings by moving their existing home loan plan from another bank to ICICI Bank. The bank’s creative and considerate gesture is the balance transfer option.

ICICI Bank Home Loan Eligibility

ICICI Bank, a financial institution renowned for its creative solutions, has distinct features regarding house loan eligibility-

  • Step-Up Repayment Plan- ICICI provides a step-up repayment plan with lower beginning installments that progressively rise over time. Perfect for people hoping for a pay increase.
  • Part-Prepayment Charges- Examine ICICI’s policy regarding part-prepayment charges. Having a better understanding of any related fees will help you create a more accommodating repayment plan.
  • Benefits of a Balance Transfer- ICICI has enticing offers for home loan balance transfers, which may result in interest expense savings. Examine these possibilities for improvement.

FAQs

What paperwork is needed in order to apply for an ICICI home loan?

The following documentation is needed in order to apply for an ICICI home loan: evidence of identification, proof of address, proof of age, proof of income, etc.

Does ICICI provide mortgages at 90% APR?

In the event that the subject property is valued at less than Rs. 30 lakh, ICICI Bank will provide a loan at 90% LTV. Mortgages with an 80% loan-to-value (LTV) are available from ICICI Bank for properties valued between INR 30 lakh and Rs. 70 lakhs.

Compare Home Loans
from Top Banks

HDFC Home LoanHDFC Home Loan
VS
SBI Home LoanSBI Home Loan
credit dharma home loan
credit dharma referral
  • Compare Popular Banks
  • HDFC vs SBI Home Loan
  • HDFC vs ICICI Bank Home Loan
  • Tata Capital vs HDFC Home Loan
  • SBI vs ICICI Bank Home Loan
  • HDFC vs Kotak Mahindra Home Loan
  • Bank of Baroda vs SBI Home Loan
  • HDFC vs Axis Bank Home Loan
  • SBI vs IDBI Home Loan
  • Recent Posts
  • Bank of India Star Home Loan – Furnishing
  • Bajaj Housing Finance Home Loan Processing Fees and Other Charges
  • Bajaj Housing Finance Home Loan Pre Payment Calculator
  • What is the CIBIL Score Required for Bank of India Home Loan Approval?
  • HDFC Bank Home Loan Interest Rates 2025
  • Related Posts
  • ICICI Home Loan Interest Rates @8.75% | Updated 2025
  • ICICI Bank Plot Loan: Interest Rates, Eligibility, and Processing Fees
  • ICICI Bank Home Loan Application Process
  • How to Download ICICI Bank Home Loan Statement Online?
  • ICICI Bank Home Loan
  • ICICI Bank Home Loan Top Up: A Comprehensive Guide | Updated 2025
  • ICICI Bank Home Loan Eligibility Calculator
logologo
Fast. Transparent. Spam Free.
Getting a home loan in India is none of the above.
At Creditdharma we are changing that and making your home buying journey stress free. Top Experts, Best Banking Partners and Super Easy Process.
Quick Links
Blogs
Home Loan Eligibility
Balance Transfer
Calculators
About Us
Partner with Us
Become an Advisor
Properties
Glossary
IFSC Code Search
Refer & Earn
Free Credit Report
Home Loan Score
Help
Sitemap
Get in Touch
Enzyme Office Spaces , 27th Main, 480/B, 18th Cross Road, HSR Layout, Bengaluru, Karnataka 560102
linkedininstatwt/x
General Enquiry
contact@creditdharma.in

Home Loans From Top Banks

SBI

SBI Home LoansSBI Home Loan EMI CalculatorSBI Home Loan Eligibility CalculatorSBI MaxGain Home LoansSBI Privilege Home LoanSBI Home Loan StatementSBI Home Loan Customer Care

HDFC

HDFC Home LoansHDFC Home Loan EMI CalculatorHDFC Home Loan Eligibility CalculatorHDFC Loan Against PropertyHDFC Home Loan with Overdraft FacilityHDFC Home Loan StatementHDFC Home Loan Customer Care

LIC Housing Finance

LIC Housing Finance Home LoansLIC Home Loan EMI CalculatorLIC Home Loan Eligibility CalculatorLIC Plot Loan DetailsLIC Home Loan StatementLIC Home Loan Customer Care

Bank of Baroda

Bank of Baroda Home LoansBank of Baroda Home Loan EMI CalculatorBank of Baroda Home Loan Eligibility CalculatorBank of Baroda Loan Against PropertyBank of Baroda Home Loan StatementBank of Baroda Home Loan Customer Care

IDBI Bank

IDBI Bank Home LoansIDBI Bank Home Loan EMI CalculatorIDBI Bank Home Loan Eligibility CalculatorIDBI Bank Home Loan Interest RatesIDBI Bank Home Loan StatementIDBI Bank Home Loan Customer Care

ICICI Bank

ICICI Bank Home LoansICICI Bank Home Loan EMI CalculatorICICI Bank Home Loan Eligibility CalculatorICICI Bank Home Loan Top-UpICICI Bank Home Loan StatementICICI Bank Home Loan Customer Care

AXIS Bank

AXIS Bank Home LoansAXIS Bank Home Loan EMI CalculatorAXIS Bank Home Loan Eligibility CalculatorAXIS Bank Loan Against PropertyAXIS Bank Home Loan StatementAXIS Bank Home Loan Customer Care

BAJAJ Housing Finance

BAJAJ Housing Finance Home LoansBAJAJ Housing Finance Home Loan EMI CalculatorBAJAJ Housing Finance Home Loan Eligibility CalculatorBAJAJ Housing Finance Sambhav Home LoanBAJAJ Housing Finance Home Loan StatementBAJAJ Housing Finance Home Loan Customer Care

Resources

Best Home Loans in Your City

Home Loans in BangaloreHome Loans in HyderabadHome Loans in MumbaiHome Loans in DelhiHome Loans in ChennaiHome Loans in JaipurHome Loans in Pune

Home Loans by Amount

Home Loan for 40 LakhsHome Loan for 45 LakhsHome Loan for 50 LakhsHome Loan for 55 LakhsHome Loan for 60 LakhsHome Loan for 65 LakhsHome Loan for 70 Lakhs

Home Loans by Salary

Home Loan for 40,000 SalaryHome Loan for 50,000 SalaryHome Loan for 60,000 SalaryHome Loan for 70,000 SalaryHome Loan for 80,000 SalaryHome Loan for 90,000 SalaryHome Loan for 1 Lakh Salary

Trending Home Loan Options

Home Loans for Salaried IndividualsHome Loans for Business OwnersPlot cum Construction LoansLoan Against Property DetailsHome Loan Top-Up DetailsHome Loan for NRIsHome Loan Without ITR Documents

Tools

Home Loan EMI CalculatorHome Loan Balance Transfer CalculatorCompare Home LoansHome Loan Eligibility CalculatorBuy vs Rent CalculatorFind Branch Details with IFSC CodeHome Loan Tax Benefits CalculatorFOIR CalculatorCheck Your Credit ScoreHome Loan Prepayment CalculatorHome Loan Insurance CalculatorProperty Budget CalculatorHome Loan with Overdraft CalculatorCapital Tax Gains CalculatorExplore CD Approved PropertiesPlot Loan EMI CalculatorRental Yield CalculatorHome Loan Downpayment Calculator30-30-30-10 Calculator

Compare Home Loans

HDFC vs SBI Home LoansHDFC vs ICICI Home LoansHDFC vs BAJAJ Housing FinanceSBI vs AXIS Home LoansBank Of India vs SBIBank of Baroda vs AXIS BankHDFC vs Bank of BarodaSBI vs IIFL Housing FinanceSBI vs ICICI BankSBI vs BAJAJ Housing FinanceAXIS Bank vs ICICILIC vs SBI Home Loans

Best Home Loan Offers

Best Banks for a Home Loan Balance TransferBest NBFCs for a Home LoanBest Small Finance Banks for Home LoansBest Housing Finance CompaniesBest Public Sector BanksBest Options for Independent Properties
© Copyright Tres Commas Technologies Pvt. Ltd.
CIN : U72900KA2021PTC143997
Privacy Policy | Terms & Conditions
Disclaimer : The information contained in this website is presented purely for information purposes only provided as service to the internet community at large. It does not constitute insurance advice and we do not guarantee the accuracy, adequacy or the completeness of the information contained here.
Loading...