ICICI Home Loan Interest Rates

Highlights

  • Compare ICICI home loan rates and processing fees.
  • Checkout the interest rates ranging from 6.90% - 8.05% on ICICI home loans.

Buying a home loan from ICICI Bank is quick and easy. A home loan from ICICI Bank can not be missed. The bank offers home loans to both salaried and self-employed at fixed as well as floating interest rates. Read more to know the details below:

Apply ICICI Home Loan @ 6.90%* Rate

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ICICI Home Loan Interest Rates November 2020

Below is the table showing the rate of interest, maximum loan amount, tenure and processing fee applicable to ICICI home loans.

ParticularsSalariedSelf-employed
Home Loan Interest Rate6.90% - 7.95%7.05% - 8.05%
Loan AmountCustomizedCustomized
TenureUp to 30 yearsUp to 30 years
Processing Fees0.25% of Loan Amount + GST or INR 10,000 + GST whichever is less0.5% - 1% of Loan Amount + GST

ICICI Home Loan Interest Rates 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.

ICICI Home Loan Interest Rates Across Different Cities (Limited Period Offer)

Keeping in mind the festive season, ICICI Bank has rolled out an exciting home loan deal for people living in Delhi-NCR, Bangalore, Hyderabad and Chennai. The rate can be as low as 6.90% per annum*. Check out the table below to know how long the offer will exist across cities.

CityOffer Period
Delhi-NCROctober 16 - November 20, 2020
BangaloreNovember 10 - December 25, 2020
HyderabadOctober 16 - November 20, 2020
ChennaiNovember 10 - December 25, 2020

Home Loan Balance Transfer Interest Rates of ICICI Bank

You can lower your EMI burden and save money by transferring your existing home loan to ICICI. Yes, with the help of availing the Balance Transfer facility, you can get a lower home loan interest rate and save more on your EMIs and Interest Outgo. The rate for the same can be seen below.

SegmentInterest Rate (In Per Annum)
Salaried7.60%
Self-employed7.75%

Note – These rates apply irrespective of the balance transfer amount.

ICICI Home Loan Rates Based on CIBIL Score

ICICI Bank offers home loan rates based on CIBIL score for both salaried and self-employed applicants across different loan amounts. Let’s check the rates for both of them below.

Salaried

Loan Amount (In INR)CIBIL Score >=750CIBIL Score 700-750CIBIL<=700New to Credit
Upto 35 Lakh6.95%7.25%7.55%7.60%
Above 35 Lakh-75 Lakh7.20%7.40%7.70%7.75%
Above 75 lakh7.30%7.60%7.90%7.95%

Self-employed

Loan Amount (In INR)CIBIL Score >=750CIBIL Score 700-750CIBIL<=700New to Credit
Upto 35 Lakh7.20%7.50%7.80%7.85%
Above 35 Lakh-75 Lakh7.35%7.60%7.90%7.95%
Above 75 lakh7.45%7.70%8.00%8.05%

Pre-approved ICICI Home Loan Balance Transfer Interest Rates

ICICI Bank offers special rates to individuals who have got pre-approved home loan balance transfer offers from the private lender. The rate depends on the amount of transfer as well as the top-up amount you request when doing a balance transfer to ICICI Bank. Let’s check out the rates as well as the processing fee on a pre-approved balance transfer.

ProductLoan Amount (In INR)Types of Lending InstitutionsInterest Rate (In Per Annum)Processing Fee
Home Loan<35 LakhMNC Banks, PSBs, Private Banks, LIC Housing Finance, HDFC Ltd.6.95%INR 3,100
Others7.50%
>35 LakhMNC Banks, PSBs, Private Banks, LIC Housing Finance, HDFC Ltd.7.05%
Others7.50%
Top Up on Home Loan<35 LakhMNC Banks, PSBs, Private Banks, LIC Housing Finance, HDFC Ltd.7.25%0.50% of the loan amount plus GST
Others7.50%
>35 LakhMNC Banks, PSBs, Private Banks, LIC Housing Finance, HDFC Ltd.7.35%
Others7.50%

Notes

  1. There will be an additional 10bps premium that will be charged on the above-mentioned pricing if the repayment mode is not Auto Debit.
  2. Top up on the Balance Transfer Facility of the Home Loan will be 30 bps higher than the above-mentioned pricing.
  3. Effective Rate for Top-up Loans with Home Loan Balance Transfer (external) cannot be priced lower than the applicable home loan rate for a balance transfer.
  4. For Top-up loans with External Home Loan Balance Transfer, the LAP Rate will be applicable if the Top-up loan amount is greater than 100% of the original balance transfer sanction amount.
  5. For RIBG Locations, pricing will be 25 bps higher than the above pricing.
  6. Empower (Banking Product), Garmin & LTV + FOIR Combo > 140%, then the pricing will be 25 bps higher than the above-mentioned pricing.
  7. For Money Saver, pricing will be 25 bps higher than the above pricing.
  8. For collateral Plus (Secured), pricing will be 200 bps higher than the above pricing.
  9. An additional pricing basis LTV, PSL, and Under-constructed Properties not to be applied on the pricing mentioned for Balance Transfer of the Loan.

For Home Loan Products/Pre-approved Top-up Loan for Insurance/Home Loan – Refinance (< 6 Months)/Home Improvement Loan

Salaried

Loan Amount SlabHome Loan Interest Rates
Up to INR 35 lakhs6.90% - 7.60%
INR 35 lakhs to INR 75 lakhs7.00% - 7.75%
Above INR 75 lakhs7.00% - 7.95%

Self Employed

Loan Amount SlabHome Loan Interest Rates
Up to INR 35 lakhs7.05% - 7.85%
INR 35 lakhs to INR 75 lakhs7.10% - 7.95%
Above INR 75 lakhs7.10% - 8.05%

Rates for Different Types of Home Loans

Home Loan (Empower (Banking) & Gramin)

LTV + FOIR Combo > 140%
25 bps higher than the above-mentioned HL Rate
RIBG Locations25 bps higher than the above-mentioned HL Rate
Extra Home Loans/ Home Loan Plus25 bps higher than the above-mentioned HL Rate
Land Loan25 bps higher than the above-mentioned HL Rate
Money Saver25 bps higher than the above-mentioned HL Rate
*Top Up on Existing Home Loan30 bps higher than the above-mentioned HL Rate
RBP Top Up Loan25 bps higher than the above-mentioned HL Rate
Collateral Plus (Secured)200 bps higher than the above-mentioned HL Rate
Home OD With Top Up Loan (On HL including Balance Transfer) - Salaried Customer25 bps higher than the HL Top Up Pricing
(i.e. HL Pricing + Top up Pricing + Home OD Pricing)
Home OD With Top Up Loan (On HL including Balance Transfer) - ICICI, Infosys & Tata Group Employees25 bps higher than the HL Top Up Pricing of ICICI, Infosys, and Tata
(i.e. HL Pricing + Top up Pricing + Home OD Pricing)

Additional Premium will be charged to all the customers availing home loan on the above-mentioned RAAC Rate based on the criteria mentioned below. You can have a look at that.

  1. For all the Non-auto Debit Cases, there will be an additional 10 basis points premium will be charged.
  2. For the loan amount upto INR 35 lakh and if they are Non-PSL, an additional 15 bps premium will be charged.
  3. For loan amounts upto INR 35 lakh and if Loan to value (LTV) is below 80%, an additional 15 bps premium will be charged.
  4. For loan amounts more than INR 35 lakh and upto INR 75 lakh, with LTV below 70%, an additional 15 bps premium will be charged.
  5. There will be an additional 10 bps premium will be charged on under-construction projects of builders (as per the builder scoring model of MVIG group) except for CAT and Builders
  6. For ICICI Group, Infosys, & Tata Group Employees, Top 51 corporates, and Top 30 Developers, an additional premium to be charged only if it is Non AD. The rest of the additional premium parameters will not be applied. (LTV, PSL, and Under-construction).

Notes

  • Pricing for all the NRI and existing customers opting for interest rate conversion will be the pricing equivalent to the bureau score of more than 750.
  • For conversion, an additional premium of 10 bps to be charged if the repayment mode is Non-auto Debit. Other criteria like LTV, PSL, and Under-construction will not be applied for this conversion.
  • If the top up on the existing home loan is greater than the original sanction amount of the parent Home Loan, then LAP (Loan Against Property) rate will be applicable for the additional Top Up.
  • The pricing offered to Top Corporates or Top Developers will be lower than the pricing mentioned for Top Corporates/Top Developers or the pricing mentioned for Home Loan products.
  • Insurance Amount to be excluded from the mortgage loan amount while deriving at the applicable rate of interest for a mortgage loan.
  • Penal Interest of 1% will be applicable on the land loan if customers do not complete the construction of a house on the land within 2 years from the first disbursement date of the land plot loan.
  • Top 61 Corporates pricing is also applicable for conversion for existing customers working with top 61 Corporates & Top 30 developers.
  • Top 61 corporates Pricing is also applicable for balance transfer of home loan – land + construction.
  • An additional premium based on LTV, PSL, and Under-construction not to be applied on pricing mentioned for Top 61 Corporates.
  • If customers are availing property from Top 30 Developers, then the pricing will be according to the pricing mentioned for Top 30 developers.

Pricing of Balance Transfer Cases, Land + Construction and Top Up Loan Balance Transfer

Loan AmountSalariedSelf-employed
Any Loan Amount7.10% - 7.35%7.25% - 7.50%
  1. There will be an additional 10bps premium that will be charged on the above-mentioned pricing if the repayment mode is not Auto Debit.
  2. Top up on the Balance Transfer Facility of the Home Loan will be 30 bps higher than the above-mentioned pricing.
  3. Effective Rate for Top-up Loans with Home Loan Balance Transfer (external) cannot be priced lower than the applicable home loan rate for a balance transfer.
  4. For Top-up loans with External Home Loan Balance Transfer, the LAP Rate will be applicable if the Top-up loan amount is greater than 100% of the original balance transfer sanction amount.
  5. For RIBG Locations, pricing will be 25 bps higher than the above pricing.
  6. Empower (Banking Product), Garmin & LTV + FOIR Combo > 140%, then the pricing will be 25 bps higher than the above-mentioned pricing.
  7. For Money Saver, pricing will be 25 bps higher than the above pricing.
  8. For collateral Plus (Secured), pricing will be 200 bps higher than the above pricing.
  9. An additional pricing basis LTV, PSL, and Under-constructed Properties not to be applied on the pricing mentioned for Balance Transfer of the Loan.

Fees & Charges on Pre-approved Home Loan from ICICI Bank

ICICI Bank has brought down the processing fee on pre-approved home loans much lower than the standard fee applicable. Check out the table below to know the same.

ProductsStandard Processing Fee (In INR)Pre-approved Processing Fee (In INR)
Home Loan/Land Loan10,000 + Applicable Taxes or 0.25% of the Loan Amount + Applicable Taxes, Whichever is Lower3,100 (Inclusive of Taxes)
Home Loan Balance Transfer10,000 + Applicable Taxes or 0.25% of the Loan Amount + Applicable Taxes, Whichever is Lower3,100 (Inclusive of Taxes)
Top-up on Home Loan Balance Transfer1.00% of the Loan Amount + Applicable Taxes0.50% of the Loan Amount + Taxes
Administrative Charges5,000 + Applicable Taxes or 0.25% of the Loan Amount + Applicable Taxes, Whichever is Lower5,000 + Applicable Taxes or 0.25% of the Loan Amount + Applicable Taxes, Whichever is Lower
Special Applicable Fee for Home Loans/Land LoansProcessing Fee
Super Work SiteINR 2,500 + Applicable Taxes
  • Lower of Standard Fee or Special Applicable Fee as given above would be applicable
  • Currently, the processing for all online cases is capped to INR 10,000, excluding service taxes. However, this offer might change and the value will change accordingly
  • In the case of top-up on home loan balance transfer, the processing fee will be calculated separately, like the Processing Fee for Balance Transfer Amount and Processing Fee for the Top-up Amount.

Special Home Loan Pricing for November 2020

ICICI Bank has launched special pricing for a home loan and home loan balance transfer for September 2020. The rates are lower than 6.90% - 8.05%, usually charged by the renowned private lender. However, the rate is applicable if you have a CIBIL score of more than 750. Cases sanctioned till September 30 will be eligible for lower rates. Let’s check out the rates below.

Loan Amount (In INR)SalariedSelf-employed
Upto 35 Lakh6.90%7.05%
> 35 Lakh7.00%-
> 35 Lakh <= 75 Lakh-7.10%

Target Segments Regarding ICICI Bank Special Home Loan Pricing for November 2020

ICICI Bank has announced the segments to which its special home loan pricing will be applicable for September 2020. Take a look at the table below.

FilterTarget SegmentSpecial Proposition for September
Age30-45
Employment TypeSalaried
Income Band>=50,000 Per Month
Bureau Score700+
Bureau Score + Salaried750+ROI of 6.90% for loans upto INR 35 Lakh
ROI of 7.00% for loans > INR 35 Lakh
Target Profiles with Special Pricing for SeptemberDefense Employees, Doctors (MD/MS), Employees of Top 61 Corporates6.90% irrespective of bureau score
Target LocationsDelhi-NCR, Mumbai, Hyderabad, Bangalore, Chennai, Pune, Kolkata, Ahmedabad

Which are Those Top 61 Corporates Whose Employees are Eligible for Special Pricing?

Check out the table below to know the same.

L&T Infotech LtdMindtree LimitedNovartis Healthcare Pvt Ltd24/7 Customer Pvt Ltd
ABB India LtdAbbott Healthcare (P) Ltd \ Piramal Enterprises LtdAccenture Solutions Pvt LtdAmazon Development Center India Pvt Ltd
Amdocs Development Centre India LLPAmerican Express India Pvt LtdAtos India Pvt LtdBharat Petroleum Corporation Ltd
Reliance GroupCapgemini Technology Services India LtdCaterpillar India P LCEAT Ltd
Cipla LtdCognizant Technology Solutions India Pvt LtdCRISIL LimitedCyient Ltd
Daimler India Commercial Vehicles Pvt LtdDell International Services India (P) Ltd.Ernst & Young LLPEXL Group (EXL Service.COM India Pvt Ltd
FLSmidth Pvt LtdFord India Pvt LtdGlenmark Pharmaceuticals LtdGodrej and Boyce Mfg Co Ltd
HCL Technologies Ltd/ HCL Technologies -IOMCHindustan Unilever LimitedHonda Cars India LtdICICI Group of Companies
Infosys Group of CompaniesIpca Laboratories LtdJohnson & JohnsonJSW Steel Ltd
KEC International LtdLarsen & Toubro Limited ECC DivisionLarsen & Toubro Ltd GroupLG Electronics India (P) Ltd
Lupin LtdM/S Sutherland Global Services Pvt LtdMicrosoftMaruti Suzuki India Ltd
Nagarro Software P.L.NIIT Technologies LtdPfizer LimitedWipro Enterprises Ltd / PPA Wipro Ltd.
Reliance Communications LtdReliance IndustriesReliance Infrastructure LtdReliance Retail Limited
Samsung R&D Institute India - Bangalore Pvt LtdSerum Institute of India LtdShoppers Stop LimitedTata Group of Companies
Tech Mahindra Ltd (Erstwhile Satyam Computer Services)Titan Company LtdValue LabsWockhardt Ltd
SRF Limited/ SRF Foundation

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