Interest Rates 2017 801 views
Interest Rate Comparison Tool All that glitters is not gold; the same goes for loans! Have you done your research? Compare Banks. Estimate EMIs. Enable Wishes on wishfin.com
Interest Rate Comparison Tool
All that glitters is not gold; the same goes for loans! Have you done your research?
Compare Banks. Estimate EMIs. Enable Wishes on wishfin.com
Buying a home loan from ICICI Bank is quick and easy as the bank with its fastest approval process makes the journey smooth for you. Talking about a home loan from ICICI Bank, how can the interest rates be missed? The bank offers the home loan on both fixed as well as floating interest rates to salaried and self-employed individuals. And, according to the category of the employer and loan amount, the rates offered by the lender vary. If we talk more about interest rates, the bank’s floating rates are linked to its 1-year MCLR (Marginal Cost of Lending Rate), which is currently standing at 8.20%.
Let’s take a look at the tables below to have a better understanding of ICICI home loan interest rates.
Table of Contents
ICICI Home Loan Interest Rates
|Interest Rate||8.35% - 8.85%|
|Tenure||Up to 30 years|
|Processing Fees||0.50% - 1% of the loan amount plus GST|
|Prepayment Charges||Nil (in floating rate) else 2% plus GST on principal outstanding|
ICICI Home Loan Calculator
With the help of a home loan interest calculator or a loan calculator, you get to know the payment details in advance. This is by far the best facility especially for a home loan borrower as the tenure is as high as 30 years and the monthly EMIs should be in the budget. Because later when your expenses increase and you want to reduce your EMI, you cannot do it until and unless you go for the balance transfer facility. Thus, calculate your home loan EMI with this calculator and see what is the monthly EMI, the total interest outgo, and the total repayment. By doing so, you will not even be prepared for the future expenses but will also be confident your deal which will help you stick to your decision.
ICICI Home Loan Interest Rate for Existing Customers
With interest rate conversion option, the existing customers of home loans of ICICI Bank can reduce their current rate of interest by opting for a lower rate. The customers can switch from fixed rate to floating rate or vice versa. However, there is a marginal fee of 0.5% of the principal outstanding plus GST would be charged by the bank under the conversion facility. The borrowers also have the option of going for either reducing EMIs or loan tenure.
Home Loan Balance Transfer Interest Rates
You can lower your EMI burden and save money by transferring your existing home loan to ICICI. Yes, with the help of availing the BT facility, you can get a lower home loan interest rate and save more on your EMIs and Interest Outgo.