Home Loan Interest Rates 202029083 views
Highlights
- Compare ICICI home loan rates and processing fees.
- Checkout the interest rates ranging from 7.45% - 8.55% 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 @ 7.45%* Rate
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Table of Contents
ICICI Home Loan Interest Rates July 2020
Below is the table showing the rate of interest, maximum loan amount, tenure and processing fee applicable to ICICI home loans.
| Particulars | Salaried | Self-employed |
|---|---|---|
| Home Loan Interest Rate | 7.45% - 8.45% per annum | 7.70% - 8.55% per annum |
| Loan Amount | Customized | Customized |
| Tenure | Up to 30 years | Up to 30 years |
| Processing Fees | 0.50% - 1% of the loan amount plus GST | 0.50% - 1% of the loan amount plus 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.
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.
| Segment | Interest Rate (In Per Annum) |
|---|---|
| Salaried | 7.60% |
| Self-employed | 7.75% |
Note – These rates apply irrespective of the balance transfer amount.
For Home Loan Products/ Pre-approved Top-up Loan for Insurance/ Home Loan – Refinance (< 6 Months)/ Home Improvement Loan
Salaried
| Loan Amount Slab | Home Loan Interest Rates |
|---|---|
| Up to INR 35 lacs | 7.45% - 8.10% |
| INR 35 lacs to INR 75 lacs | 7.60% - 8.25% |
| Above INR 75 lacs | 7.80% - 8.45% |
Self Employed
| Loan Amount Slab | Home Loan Interest Rates |
|---|---|
| Up to INR 35 lacs | 7.70% - 8.35% |
| INR 35 lacs to INR 75 lacs | 7.80% - 8.45% |
| Above INR 75 lacs | 7.90% - 8.55% |
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 Locations | 25 bps higher than the above-mentioned HL Rate |
| Extra Home Loans/ Home Loan Plus | 25 bps higher than the above-mentioned HL Rate |
| Land Loan | 25 bps higher than the above-mentioned HL Rate |
| Money Saver | 25 bps higher than the above-mentioned HL Rate |
| *Top Up on Existing Home Loan | 30 bps higher than the above-mentioned HL Rate |
| RBP Top Up Loan | 25 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 Customer | 25 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 Employees | 25 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.
- For all the Non-auto Debit Cases, there will be an additional 10 basis points premium will be charged.
- For the loan amount upto INR 35 lakh and if they are Non-PSL, an additional 15 bps premium will be charged.
- For loan amounts upto INR 35 lakh and if Loan to value (LTV) is below 80%, an additional 15 bps premium will be charged.
- 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.
- 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
- 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 Amount | Salaried | Self-employed |
|---|---|---|
| Any Loan Amount | RR + 3.85% (8.25%) | RR + 4.00% (8.40%) |
- There will be an additional 10bps premium that will be charged on the above-mentioned pricing if the repayment mode is not Auto Debit.
- Top up on the Balance Transfer Facility of the Home Loan will be 30 bps higher than the above-mentioned pricing.
- 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.
- 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.
- For RIBG Locations, pricing will be 25 bps higher than the above pricing.
- Empower (Banking Product), Garmin & LTV + FOIR Combo > 140%, then the pricing will be 25 bps higher than the above-mentioned pricing.
- For Money Saver, pricing will be 25 bps higher than the above pricing.
- For collateral Plus (Secured), pricing will be 200 bps higher than the above pricing.
- An additional pricing basis LTV, PSL, and Under-constructed Properties not to be applied on the pricing mentioned for Balance Transfer of the Loan.
Pricing of the Express Balance Transfer Cases, Land + Construction, and Top Up Loan on Balance Transfer & Pre-approved Balance Transfer
| Financial Institutions | Salaried | Self-employed |
|---|---|---|
| All MNC Banks, PSBs, Private Sector Banks, LIC Housing, HDFC Ltd. | RR + 3.85% (8.25%) | RR + 4.00% (8.40%) |
| Others | 200 bps higher above the rate | 200 bps higher above the rate |
Notes
- There will be an additional 10bps premium that will be charged on the above-mentioned pricing if the repayment mode is not Auto Debit.
- Top up on the Balance Transfer Facility of the Home Loan will be 30 bps higher than the above-mentioned pricing.
- 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.
- 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.
- For RIBG Locations, pricing will be 25 bps higher than the above pricing.
- Empower (Banking Product), Garmin & LTV + FOIR Combo > 140%, then the pricing will be 25 bps higher than the above-mentioned pricing.
- For Money Saver, pricing will be 25 bps higher than the above pricing.
- For collateral Plus (Secured), pricing will be 200 bps higher than the above pricing.
- An additional pricing basis LTV, PSL, and Under-constructed Properties not to be applied on the pricing mentioned for Balance Transfer of the Loan.
