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home loans

ICICI Home Loans- Know all about interest rates, eligibility and pre-closure

Purchasing your own home in a locality you like, could be a challenging task. You feel many emotions at one single time. Out of those entire emotions, one is “worry”. What If anything goes wrong? Well ICICI home loan interest rate helps you with all your worries regarding home loan as it says, “Khayal aapka”. Getting home loan for your dream home is now made easy by ICICI. Customer satisfaction is utmost priority of ICICI along with door to door services and better interest rates. Though the reduction repo rates provided by Reserve Bank of India has directly influenced bank rates but still you can feel the ease in interest rate that ICICI offers to their customers.


Floating interest rates are lower in terms of fixed interest rate types. With ICICI you can get benefit on interest rates linked to MCLR (Marginal Cost Lending Rate). Lower EMIs at attractive interest rates, higher loan amount, better eligibility options and balance transfer facility are some features offered by ICICI Bank home loan.


Eligibility Criteria & Enhancing Eligibility:

ICICI Bank Home Loan has world class digital infrastructure which provides faster approval of home loan by processing applications through the bank’s tablet and smart phone apps termed as zero paper processing.


  • Minimum age of the applicant must be 21 years to get eligible for sanction of the loan
  • Maximum age of applicant up to which they can take loan is 65 years or age of retirement (whichever is earlier).
  • Applicant must be a salaried employee or a self-employed (professional / non-professional) with a continuous source of income.
  • If applicant wish to add a co-applicant then it is possible but minimum age of that co-applicant must be 18 years.


Enhance Your Eligibility:

  • If applicant wishes to increase their loan limit, they always have an option of adding their spouse as co-applicant considering that person is also an earning member.
  • If applicant has a co-owner in their property then to have that co-owner as co-applicant is necessary.
home loan interest rate

USP of ICICI Bank Home Loan:

  • ICICI has wide domain of home loan solutions from which customer can choose according to their feasibility.
  • Processing time for home loan is very less when compared to competitors and with zero paper processing it becomes hassle free and fast.
  • Assistance provided by relationship manager throughout the whole process from beginning of purchasing home till end of it.
  • Applicants need not to visit branch, Doorstep service by ICICI Bank puts customer’s comfort first.
  • Documentation process is as easy as reading ABC, Simple & Easy.
  • Pre-Approved Home loan facility is also available even before customer has selected property.
  • Flexible repayment options are there for customer ease.
  • Over 2500 branches PAN India, out of which 900 branches provides loan services.
  • Insurance facilities with ICICI home loan are also available depending on type of product chosen by applicant.


For more information about advantages and benefits of ICICI Bank home Loan you can contact us at 9529331331, also get information on low interest rates home loan.


Home loan for Non Resident Indians (NRI) are also available at ICICI Bank. Applicant must be of 21 years or more for sanctioning of loan. Getting Home Loan has been made easy & quick by ICICI Bank Home Loan as bank keeps paperwork and other formalities to minimum. Only important documents like ID Proof, Address Proof and Income Proof are some key documents required. If applicant is already an existing customer at ICICI bank they had to submit even less documents.

ICICI Home Loan Interest Rates:

A) Special pricing for loans up to 30 lacs

Floating Interest Rate



I-MCLR-6M (8.15%)

I-MCLR-1Y (8.20%)

Salaried Borrower Loan Amount <= 30 lacs

Women Borrower

I-MCLR-6M + 0.20% (8.35%) I-MCLR-1Y + 0.15% (8.35%)
Others I-MCLR-6M + 0.25% (8.40%) I-MCLR-1Y + 0.20% (8.40%)
Self Employed Borrower Loan Amount <=  30 lacs
Women Borrower I-MCLR-6M + 0.35% (8.50%) I-MCLR-1Y + 0.30%(8.50%)
Others I-MCLR-6M + 0.40% (8.55%) I-MCLR-1Y+ 0.35% (8.55%)


Fixed rate for 24/36 months


Category I-MCLR-1Y (8.20%)
Fixed rate for 24/36 months Floating rate pricing from third & fourth year onwards
Salaried Borrower Loan Amount <=  30 lacs
Women Borrower 8.35% I-MCLR-1Y + 0.15%
Others 8.40% I-MCLR-1Y + 0.20%
Self Employed Borrower Loan Amount <= 30 lacs
Women Borrower 8.50% I-MCLR-1Y + 0.30%
Others 8.55% I-MCLR-1Y + 0.35%



B). Below mentioned floating rates are linked to I-MCLR-1Y (One year MCLR) benchmark rate. I-MCLR-1Y is 8.20%.


Women Borrower**

Floating Interest Rate
Category Effective Rate of Interest Rate
₹ 30 lacs to ₹ 75 lacs 8.65% I-MCLR-1Y+0.45%
₹ 75 lacs to ₹ 5 crore 8.70% I-MCLR-1Y+0.50%
Above ₹ 5 crore 8.80% I-MCLR-1Y +0.60%
Fixed Interest Rate for 5 Years, 10 Years
Category Effective Rate of Interest Rate
Up to ₹ 30 lacs 8.70% I-MCLR-1Y + 0.50%
₹ 30 lacs to ₹ 5 crore 8.80% I-MCLR-1Y + 0.60%
Above ₹ 5 crore 8.90% I-MCLR-1Y+0.70%
Full Tenor Fixed Interest Rate
Category Effective Rate of Interest
Up to ₹ 30 lacs 9.70%
₹ 30 lacs to ₹ 5 crore 9.80%
Above ₹ 5 crore 10.05%


For More Information Contact us @ 9529331331

Salaried Borrower

Floating Interest Rate
Category Effective Rate of Interest Rate
₹ 30 lacs to ₹ 75 lacs 8.70% I-MCLR-1Y + 0.50%
₹ 75 lacs to ₹ 5 crore 8.75% I-MCLR-1Y + 0.55%
Above ₹ 5 crore 8.85% I-MCLR-1Y + 0.65%
Fixed Interest Rate for 2 Years, 3 Years
Category Fixed rate for 24/36 months Floating rate pricing from 25th/37th month
₹ 30 lacs to ₹ 75 lacs 8.70% I-MCLR-1Y + 0.50%
₹ 75 lacs to ₹ 5 crore 8.75% I-MCLR-1Y + 0.55%
Above ₹ 5 crore 8.85% I-MCLR-1Y + 0.65%
Fixed Interest Rate for 5 Years, 10 Years
Category Fixed rate for 60/120 months Floating rate pricing from 61st/121st month
Up to ₹ 30 lacs 8.75% I-MCLR-1Y + 0.55%
Above ₹ 30 lacs 8.85% to 8.95% I-MCLR-1Y + (0.65% to 0.75%)
Full Tenor Fixed Interest Rate
Category Effective Rate of Interest
Up to ₹ 30 lacs 9.75%
Above ₹ 30 lacs 9.85% to 10.10%


Self Employed Borrower

Floating Interest Rate
Category Effective Rate of Interest Rate
₹ 30 lacs to ₹ 75 lacs 8.70% I-MCLR-1Y + 0.50%
Above ₹ 75 lacs 8.75% to 8.85% I-MCLR-1Y + (0.55% to 0.65%)
Fixed Interest Rate for 2 Years, 3 Years
Category Fixed rate for 24/36 months Floating rate pricing from 25th/37th month
₹ 30 lacs to ₹ 75 lacs 8.70% I-MCLR-1Y + 0.50%
Above ₹ 75 lacs 8.75% to 8.85% I-MCLR-1Y + (0.55% to 0.65%)
Fixed Interest Rate for 5 Years, 10 Years
Category Fixed rate for 60/120 months Floating rate pricing from 61st/121st month
Up to ₹ 30 lacs 8.75% I-MCLR-1Y + 0.55%
Above ₹ 30 lacs 8.85% to 8.95% I-MCLR-1Y + (0.65% to 0.75%)
Full Tenor Fixed Interest Rate
Category Effective Rate of Interest
Up to ₹ 30 lacs 9.75%
Above ₹ 30 lacs 9.85% to 10.10%


icici home loan

Documentation & Processing Fees:




Self Employed Professional

Self Employed Non Professional

Photo with Application Yes  Yes  Yes
Address Proof / Identity Proof  Yes  Yes  Yes
Last 6 Months Bank Statements  Yes  Yes  Yes
Last 3 Months Salary-Slips  Yes  Yes  Yes
Processing Fee Cheque  Yes  Yes  Yes
Form 16 / Income Tax Returns  Yes  Yes  Yes
Proof Of Business Existence  Yes
Business Profile  Yes
Education Qualification Certificate And Proof Of Business Existence  Yes  Yes
Last 3 years Income Tax Returns with computation of Income  Yes  Yes
Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account  Yes  Yes




ICICI Home Loan Pre Closure Procedure:
ICICI Bank charges no fees for prepayment of home loan. It is absolutely free process for customers who have taken home loan from ICICI Bank. Zero processing fees for pre-closure of home loan.



  • Visit your servicing ICICI branch from where you have applied for home loan.
  • Get an appointment from bank for pre-closure of your home loan.
  • Visit on scheduled date, fill out a disclosure form provided by bank. There you have to provide details of source of income through which you are planning to pay off your loan.
  • After submitting the disclosure form, Bank will calculate the remaining loan amount that you have to repay to bank.
  • Pay that mentioned amount via cheque or Demand Draft.
  • Once bank receives the payment, they will complete the formalities and will close home loan on your account, you will get a receipt for the complete payment you have done to the bank.
  • Ask for Amortization sheet. It is nothing but details of all your payment through EMIs and final payment that you have done to bank from day one.
  • As soon as payment is received, depending whether your visiting branch is same or different from servicing branch, it takes around 2 weeks to get your property deed files back to you.
  • The Foreclosure Statement will be sent on your email address, within 5 working days from the date of request.
  • If you have provided your mobile number or email, ICICI Bank will inform you about the closure of your request by SMS or email respectively.
  • Providing the mobile number or email here will not result in an update of your mobile number or email as recorded with ICICI Bank.
  • ICICI Bank does not take any responsibility, and will also not be liable, for your claims if the details provided by you are incorrect/incomplete.


Suggestion: Don’t get your documents couriered, get a date from your representative and receive them personally because if any document is torn or not there then bank doesn’t take responsibility for it

Documents that you should receive on Home Loan Closure:


Property Deed.

NOC( No objection Certificate)/LCC(Loan Closure Certificate)/NDC(No Dues Certificate)

Updated CIBIL Score

MOD*(Memorandum of deposit)

Promissory Note.


*MOD must have been received at the time you had started home loan with bank


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