How to Apply for ICICI Home Loan - Features and Benefits of ICICI Home Loans

Make your dream home a reality with the help of ICICI Home Loans. ICICI Bank offers a wide range of customer-specific home loans with decent interest rates. It offers a higher loan amount on your income. The eligibility can be further enhanced by including the income of the co-applicants of your Home Loan. Give it a read and find out the features, benefits, interest rates,  and a lot more.

Features and Benefits of ICICI Home Loans

• Offers quick loan with simple documentation by buying ICICI Bank-approved projects.
• Facilitates pre-approved loans for selected customers, thus reducing the burden of detailed documentation.
• Offers Home Loan insurance to make the repayment easier for borrower’s family in case of the applicant’s demise. It comes in two variants: Home insurance & Secure mind and Loan Protect.
• Tax benefit of up to Rs. 1.5 lakh.
• Offers a wide range of ICICI home loan schemes to suffice the requirements of its customers.
• Offers loans at attractive interest rates.

Types of ICICI Home Loans

ICICI Bank Saral Rural Housing Loan

Saral Rural Housing Loan offers support to the socio-economic development of women and other weaker sections of the society. It also includes support in construction, repairs, acquisition, renovation or upgradation of rural houses.

Eligibility

• Rural women and other weaker sections of the society are eligible to apply for the loan.
• Individual must be between 21-60 years.
• The loan amount ranges from Rs. 15 Lakh-Rs. 10 crores.
• Option to apply for a maximum loan-to-value of 90%.
• The maximum period for the loan is 30 years. 
  

ICICI Bank Extra Home Loan

ICICI Bank Extra Home Loan increases your loan amount by up to 20%. It also extends the repayment period up to 67 years of age.

Eligibility

• Suitable for young and middle-aged salaried and self-employed customers.
• Extended repayment tenure of up to 65 years and salaried borrowers up to 48 years old.
• The loan amount ranges from Rs. 15 lakh-Rs. 75 lakh.
• Option to apply for a maximum loan to value of 80%.
• The maximum period for the loan is 30 years.
  

Pragati Home Loans

It is specially designed to meet your home loan requirements. Under this Home Loan, you can apply for a home loan/home improvement loan/non-residential premises loan.

Eligibility

• Salaried individuals who have a minimum income of Rs. 10,000 per month/self-employed individuals with experience in business for 5 years.
• Individual must be between 21-60 years.
• The loan amount ranges from Rs. 5 lakhs-Rs. 50 lakhs.
• Option to apply for a maximum loan to value of 90%.
• The maximum period for the loan is 20 years
  

ICICI Home Loan Balance Transfer

ICICI Home Loan Balance Transfer offers interesting interest rates to borrowers who want to lower the EMI on an existing loan from other banks and non-banking financial companies or for those who want additional funds to meet their personal/business needs.

Eligibility

• Individual must be between 21-60 years.
• The loan amount ranges from Rs. 5 Lakh-Rs. 10 Crores.
• Option to apply for a maximum loan to value of 80%.
• The maximum period for the loan is 30 years.
  

Home Improvement Loan

Loan to improve/renovate your home by availing a loan at a lower rate of interest. It is offered at home equity interest rate for both internal and external furnishing at an affordable interest rate.

Eligibility

• Individuals who want to renovate/re-furnish their existing house.
• Individual must be between 21-60 years.
• The loan amount ranges from Rs. 15 lakhs-Rs. 10 crores.
• Option to apply for a maximum loan to value of 80%.
• The maximum period for the loan is 30 years.
  

ICICI Home Loan Top-up

ICICI Home Loan Top-up offers loan to those who want to meet their home furnishing/marriage expenses/funding children’s higher education/holiday expenses, etc. You can avail a loan amount of up to 100% of originally sanctioned Home Loan.

Eligibility

• Salaried/self-employed professional/businessmen can apply for this loan.
• Individual must be between 21-60 years.
• The loan amount ranges from Rs. 15 lakhs-Rs. 10 crores.
• Option to apply for a maximum loan to value of 80%.
• Tenure is up to the remaining period of the existing loan, and the maximum period for the loan is 20 years.