ICICI Bank Home LoanSeptember 23, 2022
If you want to purchase a home, you can avail an ICICI Bank home loan. This loan offers flexible repayment tenure, and it is available for both newly constructed homes and resale flats. The regular home loan is typically repaid over a 30-year period. However, if you need to pay off your loan sooner, you can apply for an express home loan. With this type of loan, you can pay off your loan in as little as five easy steps.
ICICI Bank offers a variety of home loan options, including fixed-rate and floating-rate loans. For loans up to 25 lakhs, the bank charges a 0.25% disbursal fee. For loans greater than 25 lakhs, a 4% disbursal fee will be assessed.
ICICI Bank home loan interest rates vary according to a number of factors, including your age and monthly income. Also, a bank’s lending criteria can be based on your credit history, employment status, and residency status. It can also be helpful to look at the ICICI Bank home loan eligibility calculator to see if you qualify for a particular home loan.
If you want to extend the length of your home loan, you can also apply for a top-up loan. Unlike a normal mortgage, a home top-up loan from ICICI Bank lets you borrow up to twenty percent more than you can afford with your current mortgage. And, if you have a second mortgage, you can use your top-up loan to consolidate your debt and get a better interest rate.
To qualify for an ICICI Bank home loan, you need to provide the bank with documents. This includes your CIBIL score and credit history. You also have to provide proof of identity. ICICI bank will verify these documents and make sure they are authentic. You may also be charged an application processing fee, which can amount up to 0.50% of the total loan amount.
The ICICI Bank home loan application process is simple and quick. Once you have collected all necessary documents, you should submit the application. If you have questions, you can consult the bank’s representative. Then, the loan will be processed. After approval, you will receive your foreclosure letter. This letter will be sent to the address you provided in your home loan application form.
ICICI Bank home loan rates are competitive. You can choose a plan that meets your needs best. You can apply for a loan of up to thirty years. You can apply online or through phone banking. The ICICI Bank home loan processing fee is minimal – just Rs 3,000.
You can avail an EMI moratorium if you are struggling to make your payments. To do this, you need to opt in for the moratorium by SMS, email, or the bank’s website. This moratorium is only for a three-month period. It will not affect your credit history.