ICICI Home Loan EMI Calculator

EMI Calculator 455 views

ICICI Bank home loan is one of the best options you have in the banking sector today. With the facility of different home loan schemes, ICICI Bank makes it easier for a person to make a choice. The interest calculator or the EMI calculator is another helping hand for the customers who are either planning to take a loan or are already a loan borrower. There is a special home loan EMI calculator with tells you the monthly installments and the maturity value.

EMI Calculator for Home Loan
Loan Amount (₹)
Interest Rate (%)
Tenure(year)
Results
Loan Amount
Interest Rate
Tenure(Months)
Monthly Instalment (EMI)
Total Interest Amount
Total Amount (Principal + Interest)
Year Principal Interest Balance Amount

Housing Loan Interest Rates

With the low-interest rate option, ICICI home loan is presently one of the best home loans in India. There is a concession for women applicants as well. Have a look at the rates below:

ParticularsDetails
Interest Rate8.35% - 8.85%
Loan AmountCustomized
TenureUp to 30 years
Processing Fees0.50% - 1% of the loan amount plus GST
Prepayment ChargesNil (in floating rate) else 2% plus GST on principal outstanding

Home Loan Calculator

EMI Calculator is also popular as an interest calculator. This tool functions online so as to make it convenient for you to know the EMI payments anytime anywhere. The home loan EMI calculator, like other loan calculators, takes into account the basic details of your loan: the loan amount, the interest rate, and the tenure. Once you have mentioned these details, you get your home loan EMI details in the form of pie-chart. Since the interest offered to you by ICICI Bank is the annual rate, the calculating tool converts the annual rate into the monthly rate and then gives the result. Here is the formula used for the calculation.

EMI Calculation Formula

The calculation in the EMI calculator is done through the below-given formula:

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
where,
EMI = Equated Monthly Installment
P = Principal Loan Amount
R = Monthly Interest Rate
N = Number of Monthly Installments

ICICI Home Loan Customer Care

ICICI Bank is known for its customer service as it has always helped its customers in case of any query. As a result of which there is a special assistance team for the loan borrowers with a separate one for home loans. So, if you have applied for a loan and want to check the status of your application or you just want to contact the bank and want to know whether or not you can get the loan, just contact the customer care department. The contact number is different for each city which is available at the official website of the bank. However, you can also dial 1800 200 3344 between 9 a.m. to 6 p.m. from Monday to Friday.

ICICI Home Loan Statement

The borrowers will get the loan statement every month on the registered email ID provided at the time of applying. The statement includes the EMI deduction details and other details related to your loan repayment which can be reviewed by the customer. In case of doubts, you can also contact the nearest bank branch or can dial the customer care number as mentioned above.

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