ICICI Home Loan Interest Rates
ICICI Bank provides attractive home loan options with interest rates beginning at 8.75% p.a. and a maximum tenure of 30 years. Eligible borrowers can secure loans up to ₹5 crore, suitable for various property-related purposes such as purchasing plots, constructing homes, renovations, and home extensions.
ICICI Home Loan Interest Rates by Employment
ICICI Bank offers customized home loan interest rates based on employment type, with competitive rates for salaried and self-employed individuals. Women borrowers enjoy additional discounts, promoting affordability and inclusivity.
Also Read: Calculate your net tax savings with a home loan
ICICI Home Loan Interest Rates for Salaried Employees
| Home Loan Type | Home Loan Interest Rates |
|---|---|
| Home Loan For Salaried | 8.75% p.a. onwards |
ICICI Home Loan Interest Rates for Self Employed
| Home Loan Type | Home Loan Interest Rates |
|---|---|
| Home Loan For Self Employed | 8.75% p.a. onwards |
ICICI Home Loan Interest Rates for NRIs
| Home Loan Type | Home Loan Interest Rates |
|---|---|
| Home Loan For Salaried | 8.75% p.a. onwards |
Source: ICICI Bank Official Website
ICICI All Schemes Home Loan Interest Rates
ICICI offers multiple home loan schemes, renovation loan, plot loans, rural housing loan, top up, balance transfer, LAP, etc. Each with its own interest rate structure and features. Here’s an overview of the current rates for various ICICI schemes.
| Home Loan Type | Home Loan Interest Rates |
|---|---|
| ICICI Express Home Loan | 8.60% p.a onwards |
| ICICI NRI Home Loan | 8.75% p.a onwards |
| ICICI Balance Transfer Home Loan | 8.75% p.a onwards |
| ICICI Land Loan | 8.75% p.a onwards |
| ICICI Step up Home Loan | 9.10% p.a onwards |
| ICICI Loan Against Property | 8.35% p.a onwards |
| ICICI Home Overdraft | 8.75% p.a onwards |
| ICICI Commercial Property Purchase Loan | 8.75% p.a onwards |
| ICICI Home Top Up Loan | 8.75% p.a onwards |
| ICICI Home Improvement Loan | 8.75% p.a onwards |
Read More: Interest Rate Calculator
All Schemes Offered by ICICI: A Detailed Overview
ICICI has a range of home loan schemes catering to diverse needs, from ready-to-move properties to under-construction projects. Read on to find the best fit for your housing requirements.
ICICI Express Home Loan
- Instant approval: Quick processing for digital loans and temporary applicants within a matter of a few hours.
- Simplified process: Typing an uncomplicated application and required documents completely digitized, resulting in a hassle-free experience.
- Eligibility wide range: Attractive terms applied to both Salaried and Self-employed Individuals.
| Features | Details |
|---|---|
| Interest rate | 8.60% p.a onwards |
| Maximum loan amount | Up to Rs. 5 crores |
| Loan tenure | Up to 30 years |
| Processing fees | 0.50% of the loan amount, plus applicable taxes. |
| Eligibility | New and Existing Bank Customers |
Also Read: ICICI Bank Home Loan Processing Fees
ICICI NRI Home Loan
- User friendly Quick Processing: Minimal documentation will even be required for overseas-based locations.
- Eligibility: A large number of NRIs and PIOs are covered under the salary and self-employed classification.
- No penalty for Pre-closure: Prepay the loan at any time without significant penalty charge.
| Features | Details |
|---|---|
| Interest rate | 8.75% p.a onwards |
| Maximum loan amount | Up to Rs. 5 crores |
| Loan tenure | Up to 30 years |
| Processing fees | 0.50% of the loan amount, plus applicable taxes. |
| Eligibility | New and Existing Bank Customers |
Check Out: CIBIL Score Required for ICICI Bank Home Loan
ICICI Balance Transfer Home Loan
- Simple Transfer Process: A way to transfer loans that is easy to understand and fast in terms of application processes that require comparatively fewer documents in order to make transferring one’s loan stress-free.
- Lower EMI: Lower the EMI on a current home loan by transferring it to ICICI, because of their competitive interest rates.
- Top-up possibility: The opportunity to borrow additional funds: for instance, top-up loans for home improvements or other needs.
| Features | Details |
|---|---|
| Interest rate | 8.75% p.a onwards |
| Maximum loan amount | up to Rs. 5 crores or more |
| Loan tenure | Up to 20 years |
| Processing fees | Up to 2% of the loan amount, plus applicable taxes. |
| Eligibility | New and Existing Bank Customers |
Also Read: ICICI Bank Home Loan Repayment Options
ICICI Land Loan
- Fast and Easy Process: All it takes is a little documentation and Just say yes.
- Extensive Availability: Those with a paycheck as well as the more independent individuals can apply for support terms that are attractive.
- Keep Everything Transparent: You need clear loan structures that do not have minimal hidden fees.
| Features | Details |
|---|---|
| Interest rate | 8.75% p.a onwards |
| Maximum loan amount | Up to Rs. 5 crores |
| Loan tenure | Up to 20 years |
| Processing fees | 0.50% of the loan amount, plus applicable taxes. |
| Eligibility | New and Existing Bank Customers |
ICICI Step up Home Loan
- Lower EMI in the Case of Diminished Payments in Early Years: Easy handling of early payments with lower EMIs.
- Return the EMI According to Salary Hikes: Gradual enhancement of EMIs with individual increases in income makes slower repayment with increased returns.
- Higher Qualification for Loan: Greater amount of money for future income expansion with a structured plan for repaying.
| Features | Details |
|---|---|
| Interest rate | 9.10% p.a onwards |
| Maximum loan amount | Up to Rs.3 crores |
| Loan tenure | Up to 20 years |
| Processing fees | 0.50% of the loan amount, plus applicable taxes. |
| Eligibility | New and Existing Bank Customers |
ICICI Loan Against Property
- Fast Processing: Instant approval and quick release of loan against property with less documentation.
- Multiple Usage Purposes: It can also be availed for personal or business requirements like construction of a house or child education.
- A Rising Loan-to-Value (LTV) Ratio: Up to 70% advanced or 80 % is also provided on the basis of the property cost.
| Features | Details |
|---|---|
| Interest rate | 8.35% p.a onwards |
| Maximum loan amount | Up to Rs.5 crores |
| Loan tenure | Up to 15 years |
| Processing fees | 0.50% of the loan amount, plus applicable taxes. |
| Eligibility | New and Existing Bank Customers |
ICICI Home Overdraft
- Quick Money Access: Instant Loan Amount available for all your urgent needs related to money or home.
- Larger Loan Amount: Depending on the valuation of property, there are bigger overdraft limits.
- Convenient Repayment: In the initial period, you have various interest repayment options which improve managing the cash flow.
| Features | Details |
|---|---|
| Interest rate | 8.75% p.a onwards |
| Maximum loan amount | Up to Rs.5 crores |
| Loan tenure | Up to 20 years |
| Processing fees | 0.50% of the loan amount, plus applicable taxes. |
| Eligibility | New and Existing Bank Customers |
Read More: ICICI Home Loan Overdraft
ICICI Commercial Property Purchase Loan
- Fast Approval: Quick loan approval and disbursal process for acquiring properties in time.
- Multiple Effectiveness: A loan to acquire commercial real estate like office, shop or industrial premises.
- Enthralling Easy Qualifications: Owns an attractive feature involving a minimal documentation process, can be availed to salaried and self-employed individuals alike.
| Features | Details |
|---|---|
| Interest rate | 8.75% p.a onwards |
| Maximum loan amount | Up to Rs.5 crores |
| Loan tenure | Up to 15 years |
| Processing fees | 1.50% of the loan amount, plus applicable taxes |
| Eligibility | New and Existing Bank Customers |
ICICI Home Top Up Loan
- Multi-purpose End Usage: Funds can be used for house improvements, educational expenses, medical bills, or for any kind of personal use.
- No Pre-Closure Charges: Enjoy pre-defining terms without strict footprints leading to lower rates of return.
- Simple Eligibility: Specifically accessible to ICICI home loans customers, borrowing. Criteria such as Good repayment track record required.
| Features | Details |
|---|---|
| Interest rate | 8.75% p.a onwards |
| Maximum loan amount | Up to Rs.1.5 crores |
| Loan tenure | Up to 20 years |
| Processing fees | 0.50% of the loan amount, plus applicable taxes. |
| Eligibility | New and Existing Bank Customers |
ICICI Home Improvement Loan
- Quick processing: Quickly approved and disbursed to ensure timely completion of home improvement projects.
- Minimal documentation: The documentation is simple and easy for fast loan approval.
- No Collateral required: They are unsecured loan options and provide flexibility without collateralization.
| Features | Details |
|---|---|
| Interest rate | 8.75% p.a onwards |
| Maximum loan amount | Up to Rs.5 crores |
| Loan tenure | Up to 15 years |
| Processing fees | 0.50% of the loan amount, plus applicable taxes. |
| Eligibility | New and Existing Bank Customers |
How Does Reserve Bank of India (RBI) Repo Rate Impact Home Loan Interest Rates?
The repo rate is the interest rate at which the RBI lends short-term funds to commercial banks. It acts as a benchmark for the economy, influencing liquidity and credit availability. For example, a lower repo rate reduces banks’ borrowing costs, encouraging them to lend more.
Direct Impact on Home Loan Rates
- Rate cuts reduce borrowing costs : When the RBI lowers the repo rate, banks can borrow funds at cheaper rates, potentially reducing home loan interest rates
- Example from 2025 : In February 2025, the RBI reduced the repo rate by 25 basis points to 6.25%, followed by another cut to 6%.These moves aimed to stimulate economic growth by making loans more affordable.
Transmission to Borrowers
- Partial or delayed pass-through : Banks may not immediately pass the full benefit of repo rate cuts to borrowers. For instance, after the February 2025 cut, lenders gradually adjusted home loan rates, with potential EMIs dropping by ₹500–₹1,000 per lakh
- Dependence on bank policies : Banks factor in operational costs, profit margins, and market competition when adjusting rates. For example, SBI and HDFC reduced rates to 8.25–8.5% post-February 2025 cuts, but smaller lenders might lag.
Key Outcomes for Home Loan Borrowers (2025)
- Lower EMIs : A 25-basis-point repo rate cut could reduce monthly EMIs for existing and new borrowers if banks adjust their rates
- Potential sub-8% rates : Analysts suggest home loan rates might dip below 8% in 2025 due to cumulative repo rate reductions, benefiting first-time buyers and refinancers
Inflation and Repo Rate Dynamics
- High inflation : The RBI typically raises the repo rate to curb inflation, increasing home loan costs.
- Low inflation : Falling inflation allows the RBI to cut rates, easing the burden on borrowers.
Suggested Read: When Does Your Home Become a Non Performing Asset?
How to Get Lowest and Best ICICI Home Loan Interest Rates?
- Aim for a 750+ Credit Score to secure preferential rates.
- Select the Right LIC Housing Finance Scheme that matches personal requirements for cost efficiency.
- Leverage Special Concessions offered to government employees, women borrowers, and defense personnel.
- Use the Check-Off Facility for direct salary deductions, which may lower interest rates.
- Make a Higher Down Payment to reduce the principal and potentially get better terms.
- Watch Out for Festive Offers or promotional discounts from LIC Housing Finance.
- Keep Income Documents Updated for quicker approvals and more favorable rates.
- Maintain Steady Employment to boost financial credibility and rate eligibility.
- Build a Strong Relationship with LIC Housing Finance for possible preferential pricing.
- Always Negotiate to explore discounts on interest rates or processing fees.
How to Get Lowest and Best Home Loan Interest Rates at ICICI
1. Check your credit report: the tradeoff is that the higher your score is, the greater chance to qualify for a lower rate of interest.
2.Comparison: Rate should be an ICICI Bank rate. Compare it with others too.
3.Decide to Choose the Best-Wanted Loan: Fixed interest is good because it means relaxation, yet floating rates typically start lower.
4.Opt for the higher tenure: The duration of the loan becomes longer so that the EMI decreases while the total amount of interest increases.
5.Make Profitable Investment: Cut down the loan amount by major payment options and receive improved rates.
6.Express Interest in Special Offers: Especially for the female and ICICI account holders, there are no special offers for female customers and ICICI account holders presently.
7.Get a discount on higher loan amounts: For loans drawn in higher amounts, the predominant factors are what reduction has been given on it.
8.Check Loan Attachment: Look to swap or refinance in case of better loan terms available anymore.
9. Negotiate on Processing Charges: With reference to some of those charges in terms of variations, you need to bargain out the ‘take-it-or-leave-it’ stance adopted by them.
10. Earn steady income to hand it over: it is more vital to be drawing a salary over time.
Types of Home Loan Interest Rates
| Interest Rate Type | Definition | Pros | Cons |
|---|---|---|---|
| Fixed | Rate remains constant throughout a predetermined period or entire tenure. | – Predictable EMIs for budgeting- Protection against rising interest rates | – Typically, higher rates compared to floating- No benefit if market rates go down |
| Floating (Variable) | Linked to market benchmarks (e.g., Repo Rate, MCLR) and changes over time | – Often cheaper when rates fall- Can partly or fully prepay with lower penalties | – EMIs fluctuate with market conditions- Costs may rise if rates increase |
| Hybrid | Combination of fixed and floating phases. | – Stability in the initial fixed period- Potential cost savings in the variable phase | – Transition from fixed to floating can carry uncertainties |
Suggested Read: All Banks Home Loan Interest Rates 2025
Factors that Affect ICICI Home-Loan Interest Rate
| Factor | How It Affects the Interest Rate |
|---|---|
| Credit score & repayment history | Higher credit scores & consistent repayments often lead to lower rates |
| Loan amount & tenure | Larger loan amounts or extended tenures can raise rates due to increased risk |
| Type of interest rate (fixed or floating) | Floating rates fluctuate with market changes; fixed rates remain constant but can be higher initially |
| Market & repo rate trends | Rates typically rise or fall in line with the central bank’s policy decisions |
| Employment & income stability | Steady job & robust income can fetch more favorable rates |
| Loan-to-value (LTV) ratio | A lower LTV (larger down payment) signals reduced risk, helping secure lower rates |
| Banking relationship | Good track record or existing relationship with the bank may result in preferential rates |
How to Obtain ICICI Home Loan Interest Certificate
Time needed: 3 minutes
- Log in to Internet Banking
Visit the ICICI Bank website and log in to your internet banking account using your credentials.
- Access Loan Section
Once logged in, navigate to the “Loans” section. Look for the “Home Loan” option.
- Request for Interest Certificate
In the home loan section, look for the option to Download Interest Certificate for the relevant financial year.
- Download from Mobile Banking
If you use ICICI Bank’s mobile app, log in, go to the “Loans” section, and select Home Loan. There should be an option to download the interest certificate directly.
- Contact Customer Support
If you’re unable to find the certificate online, you can call ICICI Bank’s customer care at 1860 120 7777 or visit the nearest branch. Request for the interest certificate by providing your loan details.
- Email Request
You can also send an email to home.loans@icicibank.com or the appropriate email address provided by ICICI Bank to request the certificate.
- Receive the Certificate
The certificate can be downloaded immediately if you use internet or mobile banking, or it will be sent to you via email or postal mail, depending on your request.
Will Home Loan Interest Rates Go Down in 2025?
Yes, home loan interest rates in India have already started declining in 2025, following the Reserve Bank of India’s (RBI) decision to cut the repo rate by 25 basis points (bps) on April 9, 2025 .
This reduction, combined with a similar cut in February 2025, brings the cumulative repo rate decrease to 50 bps this year, lowering the rate from 6.25% to 6% .
These cuts directly impact floating-rate home loans linked to the repo rate, which most banks use as their external benchmark.
EMI vs. Tenure Reduction: Which Saves More?
Banks typically shorten the loan tenure while keeping EMIs unchanged during rate cuts. Borrowers can opt for this or request an EMI reduction.
For example, a Rs 50 lakh loan at 8.25% (post-February cut) will now cost 8%, lowering monthly EMIs by Rs 777 (from Rs 42,603 to Rs 41,826).
- Lower EMIs : Immediate cash flow relief (e.g., saving Rs 777/month). Total interest saved over 20 years: ~Rs 1.85 lakh .
- Shorter Tenure : Retaining the original EMI shaves 10 months off the loan term, saving ~Rs 4.36 lakh in interest. Experts recommend this option for 234% higher savings compared to EMI cuts.
Suggested Read: What is Reverse Repo Rate?
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Conclusion
The ICICI Bank offers lower Home Loan Interest Rates with attractive flexible options, partnering with finance seekers to offer affordable and acceptable financing.
Frequently Asked Questions
ICICI Bank offers home loan interest rates starting from 8.75% onwards depending upon eligibility and specific type of loan.
The interest is benchmarked against MCLR / EBLR and the spread is based on credit score, loan amount, and tenure.
Yes; ICICI allows you to move from fixed to floating interest rates on an easy request but subject to the terms and conditions.
Loan tenures vary from 5 years up to 30 years in ICICI, subject to individual eligibility.
Yes, it charges a processing fee of about 0.5% to 1% of the loan amount, plus applicable taxes.
ICICI does not charge any prepayment penalty in loans with floating rates, but there could be prepayment charges on fixed-rate loans.
All changes in home loan interest rates are made at the bank’s discretion, and the ICICI bank may change it according to market forces and RBI guidelines on a quarterly basis.
Yes, ICICI has been offering you competitive rates on top-up loans on home loans to its existing customers.
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