ICICI Bank is one of the most eminent private sector banks. It offers financial help to the people willing to move in their own house. The bank proffers loan to both the salaried and self-employed individuals and lets them acknowledge their dream of owning a house.

The bank makes it easy for the customer to make repayment by accepting the loan amount in installments. The loan can be availed for the period as long 30 years. This helps to reduce the burden of EMI on the customer.

The customer can help himself in calculating the EMI amount by using ICICI Home Loan EMI Calculator. It becomes easy to compute the value using the calculator. Moreover, you get the accurate result.  

Computation of EMI value is important so as not to default the payment. Not paying an installment on time builds the charges on loan as the customer has to pay penalty for this. Also, this hampers your CIBIL report.

In order to maintain good credit report, the customer should pay the EMI regularly. If you think that repaying the loan would be a trouble for you then you must check and compare the rate of interest before applying for the loan.

Checking the rate will help you select the best deal according to your comfort. ICICI Bank charges a reasonable rate of interest that variates according to the tenure of the loan and type of borrower. The ICICI Bank Home Loan Interest Rate are mentioned below:

The bank offers loan at reduced rates to the female borrowers and provide them easy access to their dream home. The rates have been given under:

Fixed interest rate for five and ten years:

  • Up to ₹ 30 Lakhs- 8.70%
  • ₹ 30 lakhs to ₹ 5 crore- 8.80%
  • Above ₹ 5 crore- 8.90%

Floating interest rate:

  • Up to ₹ 75 Lakhs- 8.65%
  • ₹ 75 lakhs to  ₹ 5 crore- 8.70%
  • Above ₹ 5 crore- 8.80%

Full term fixed interest rate:

  • Up to ₹ 30 Lakhs- 9.70%
  • ₹ 30 lakhs to ₹ 5 crore- 9.80%
  • Above ₹ 5 crore- 10.05%

Rates for salaried employees have been given below-

Floating interest rate:

  • Up to ₹ 75 Lakhs- 8.70%
  • ₹ 75 lakhs to  ₹ 5 crore- 8.75%
  • Above ₹ 5 crore- 8.85%

Fixed interest rate for five and ten years:

  • Up to ₹ 30 lakhs- 8.75%
  • Above ₹ 30 lakhs- 8.85%-8.95%

Fixed interest rate for two and three years:

  • Up to ₹ 75 Lakhs- 8.70%
  • ₹ 75 lakhs to  ₹ 5 crore- 8.75%
  • Above ₹ 5 crore- 8.85%

Full term fixed interest rate:

  • Up to ₹ 30 lakhs- 9.75%
  • Above ₹ 30 lakhs- 9.85%-10.10%

Weaker sections of the society can also avail finance from the bank to fulfil their housing needs. They can take loan up to ₹ 28 lakhs which will be available at a floating rate of 8.65%.

For self-employed individuals, the rates are as follows-

Fixed interest rate for two and three years:

  • Up to ₹ 75 Lakhs- 8.70%
  • ₹ 75 lakhs to  ₹ 5 crore- 8.75%
  • Above ₹ 5 crore- 8.85%

Floating interest rate:

  • Up to ₹ 75 Lakhs- 8.70%
  • Above ₹ 75  Lakhs- 8.75%-8.85%

  Full term fixed interest rate:

  • Up to ₹ 30 lakhs- 9.75%
  • Above ₹ 30 lakhs- 9.85%-10.10%

 Fixed interest rate for five and ten years:

  • Up to ₹ 30 lakhs- 8.75%
  • Above ₹ 30 lakhs- 8.85%-8.95%

This rate list is applicable only for the candidates considered eligible by the bank. The bank decides the suitability of the candidate on basis of factors like- age, income and occupation. The ICICI Bank Home Loan Eligibility criteria is described below:

  • Minimum Age- The minimum age of the applicant at the time of application should be 21 years.
  • Maximum Age-  The maximum age of the applicant at the maturity of the loan should not be more than 65 years.
  • Occupation- The loan can be availed by the salaried and self-employed individuals
  • The co-applicant must be of or above the age of 18 years and should earn adequate income

The candidate should apply for loan only when considered eligible by the bank. Also, should negotiate the rates with the bank to get the best rates. Once the rates on the loan get decided then he/she should calculate the EMI amount using the ICICI Home Loan EMI Calculator. This will help to get the better picture of the future payments and save from defaulting.

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