Discover your eligibility for an ICICI Bank home loan with our ICICI Bank Home Loan Eligibility Calculator. With affordable interest rates starting at 9.00% p.a. and repayment terms of up to 30 years, SBI makes homeownership more accessible. Check if you qualify in minutes and take a step closer to your dream home.
ICICI Bank Home Loan Eligibility Criteria
ICICI Bank Home Loan eligibility criteria are designed to assess your financial stability, income, credit score, and other factors to determine your loan approval.
| Criteria | Details |
|---|---|
| Age | Salaried: 21 to 65 years Self Employed: 21 to 70 years |
| Employment Type | Salaried, Self-Employed |
| Nationality | Indian |
| Income | Minimum Salary: Rs. 25000 p.m. |
| Credit Score | 700+ |
| Work Experience | Stable work history/ business track record |
Must Read: Find Out How Much You Can Save with a Home Loan Overdraft
Check Out: Home Loan Eligibility Checklist for ICICI
ICICI Bank Home Loan Highlights
| Category | Highlights |
|---|---|
| Interest Rate | 8.70% p.a. onwards |
| Loan Amount | Maximum Amount: Rs. 5 Crores |
| Loan Tenure | 30 Years |
| Processing Charges | Upto 2% of loan amount. |
| Prepayment Charges | NIL |
ICICI Home Loan Interest Rates
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.
ICICI Home Loan Interest Rates (Pre-Approved)
ICICI Bank offers preferential Home Loan rates to pre-approved customers, rewarding loyalty and financial stability with lower-than-standard rates.
| Current Home Loan Interest Rate | 8.75%* p.a. |
ICICI Standard Home Loan Interest Rates for Salaried/Self-Employed
ICICI Bank’s Standard Home Loan Interest Rates offer competitive and accessible options tailored to diverse borrowing needs.
| Loan Amount | Salaried Customers | Self-Employed Customers |
|---|---|---|
| Up to ₹35 lakhs | 9.25% – 9.65% | 9.40% – 9.80% |
| ₹35 lakhs to ₹75 lakhs | 9.50% – 9.80% | 9.65% – 9.95% |
| Above ₹75 lakhs | 9.60% – 9.90% | 9.75% – 10.05% |
ICICI Special Home Loan Interest Rates for Salaried/Self-Employed
Special Home Loan rates, often below standard rates, are offered for a limited time or to eligible customers as promotional incentives. Here are the current special Housing Loan rates:
| CIBIL Score | Salaried | Self-Employed |
|---|---|---|
| >800 | 9.00% | 9.00% |
| 750-800 | 9.00% | 9.10% |
Also Read: ICICI Home Loan Top-Up
Documents Required For ICICI Home Loans
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:
General Documents
| Category | Documents Required |
|---|---|
| Proof of Identity | PAN Card/ Driver’s License / Voter ID / Passport / Aadhar Card |
| Proof of Address | Driver’s License / Ration Card / Voter ID / Passport / Aadhar Card / Registered Rent Agreement |
Income Proof
| Salaried | Self Employed |
|---|---|
| Latest Form 16 | Last 6 months Bank statement of all operative accounts |
| Latest one-month salary slip | Last 2 years CA Certified/Audited Income Tax Returns (ITR), Computation of income, Profit and Loss Account Statement and Balance sheet |
| Bank statements of the last 6 months. | GST return of the last 1 year. |
Check Out: ICICI Home Loan Interest Certificate
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How to Use ICICI Bank Home Loan Eligibility Calculator?
ICICI Bank’s Home Loan Eligibility Calculator allows you to check your housing loan eligibility online quickly. Follow these simple steps:
- Input your total gross monthly income.
- Choose the desired loan term. Longer tenures can increase your eligibility.
- Enter ICICI Bank’s current home loan interest rate.
- Input your existing monthly EMIs for other loans.
- View your eligible loan amount based on the entered details.
Check Out: ICICI Home Loan Interest Rate Calculator
ICICI Bank Home Loan Eligibility Based on Age
Applying for ICICI home loan early ensures that you can get a longer repayment tenure, lowering your EMI and helping you manage your finances better.
| Applicant Age | Maximum Eligible Tenure |
|---|---|
| 21 – 35 years | 30 years |
| 36 years | 29 years |
| 37 years | 28 years |
| 38 years | 27 years |
| 39 years | 26 years |
| 40 years | 25 years |
| 41 years | 24 years |
| 42 years | 23 years |
| 43 years | 22 years |
| 44 years | 21 years |
| 45 years | 20 years |
ICICI Bank Home Loan Eligibility Based on Property Value
ICICI Bank home loan eligibility is not only determined by the applicant’s income but also by the value of the property being purchased. The bank evaluates the property’s market value to ensure that it serves as adequate collateral for the loan.
| Property Value | LTV Ratio |
|---|---|
| Up to Rs.30 lakh | 90% of the property cost |
| From Rs.30 lakh to Rs.75 lakh | 80% of the property cost |
| Above Rs.75 lakh | 75% of the property cost |
ICICI Bank Home Loan Eligibility Based on Credit Score
A strong credit score is essential for securing ICICI Bank home loan, as it reflects your creditworthiness and repayment reliability.
| Rating | Credit Score |
|---|---|
| Good | 750 and above |
| Average | 600 – 750 |
| Poor | Below 600 |
ICICI Bank Home Loan Eligibility for Women
- Eligibility Criteria: Women applicants must meet the same eligibility requirements as other borrowers, including income, credit score, and property value.
- Benefit: This discount helps make home ownership more affordable for women borrowers.
Benefits of Using ICICI Bank Home Loan Eligibility Calculator
- Instantly determines your loan eligibility
- Access the calculator online anytime for free
- Get a clear understanding of your borrowing capacity
- Helps in aligning your home search with your budget
- Use your eligibility estimate to negotiate better terms and conditions
Factors Affecting ICICI Home Loan Eligibility
Several factors affect your eligibility for an ICICI home loan, including:
| Factor | Impact on Eligibility |
|---|---|
| Age of the applicant | Younger applicants get longer repayment tenures |
| Financial position | Strong financials improve eligibility |
| Repayment record | Also good repayment history boosts eligibility |
| Credit score | Higher scores increase chances of approval |
| Existing liabilities | Higher liabilities reduce eligibility |
| Applicant’s profile | Stable profiles are favored |
| Property specifications | Newer, well-located properties have better eligibility |
| Loan guarantor status | Being a guarantor to another loan can affect eligibility |
How to Improve My Eligibility For ICICI Home Loan?
To improve your eligibility for an ICICI home loan, take these key steps to qualify for a higher loan amount with better terms.
| Factor | How to Improve Eligibility |
|---|---|
| Credit Score | Maintain a score of 750+ by clearing dues on time and reducing debt. |
| Employment Stability | Stay employed with a stable job or business for at least 2 years. |
| Debt-to-Income Ratio | Reduce existing debts or liabilities to lower your DTI ratio. |
| Loan Tenure | Opt for a longer tenure to lower monthly EMI and improve eligibility. |
| Co-applicant | Add a co-applicant with a steady income to boost eligibility. |
| Property Value | Choose a property with a higher market value to increase loan eligibility. |
| Additional Savings | Having significant savings or assets can demonstrate financial stability. |
| Avoid Unnecessary Loans | Refrain from taking new loans during the application process. |
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Home Loan Interest Rates by Top Banks
| Bank | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
|---|---|---|---|
| SBI Bank | 8.50% p.a. onwards | 8.5% p.a. onwards | 8.50% p.a. onwards |
| HDFC Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| LIC Bank | 8.50% – 10.35% 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 |
| Punjab National Bank | 8.50% – 11.05% p.a. | 8.50% – 11.05% p.a. | 8.50% – 11.05% p.a. |
| Bank Of Baroda | 8.40% onwards | 8.40% – 10.65% p.a. | 8.40% – 10.90% p.a. |
| Bajaj Housing Finance | 8.50% p.a. onwards | 8.50% p.a. onwards | 8.50% p.a. onwards |
| Axis Bank | 8.75%-10.30% p.a. | 8.75%-10.30% p.a. | 8.75%-10.30% p.a. |
| Bank of India | 8.40% p.a onwards | 8.40% p.a onwards | 8.40% p.a onwards |
| TATA Capital | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
Home Loan 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 |
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Frequently Asked Questions [FAQs]
You can check your home loan eligibility with ICICI Bank by visiting their website and using the Home Loan Eligibility Calculator. Enter your income, age, and financial details to get an estimate. Alternatively, visit your nearest ICICI Bank branch for assistance.
The loan amount depends on your income, age, credit score, and other financial commitments. ICICI Bank usually offers loans up to 80-90% of the property value, provided your salary meets the eligibility criteria. Use the ICICI Bank Home Loan Calculator for precise results.
Your age determines the maximum tenure of the loan. Younger applicants can opt for longer tenures (up to 30 years), while older applicants may have shorter loan periods. ICICI Bank considers your age to ensure repayment is feasible within your working years.
The calculator provides an estimate, but the bank evaluates additional factors such as credit score, existing debts, employment stability, and property documentation. If these don’t meet ICICI Bank’s requirements, your application may be rejected.
You can enhance your home loan eligibility by maintaining a high credit score (750+), reducing existing debts, opting for a longer loan tenure, and including a co-applicant with stable income.
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