New Delhi (Delhi, India), January 16, 2020<\/p>\n
The ICICI Bank Limited has decreased its home loan interest rates by 0.10 percent, or 10 basis points with effect from Wednesday, January 01, 2020.<\/p>\n
ICICI Bank Limited has revised its minimum home loan floating interest rate from 8.35 percent to 8.25 percent per annum (Repo Rate 5.15% + 3.10%) for salaried female applicants (EMI \u20b9751 per lakh for a period of 30 years) and from 8.35 percent to 8.25 percent per annum (Repo Rate 5.15% + 3.10%) for salaried male applicants (EMI \u20b9751 per lakh for a period of 30 years) for the home loan amount up to \u20b935,00,000.<\/p>\n
ICICI Bank Limited has also revised its minimum home loan floating interest rate from 8.60 percent to 8.50 percent per annum (Repo Rate 5.15% + 3.35%) for self-employed female applicants (EMI \u20b9769 per lakh for a period of 30 years) and from 8.60 percent to 8.50 percent per annum (Repo Rate 5.15% + 3.35%) for self-employed male applicants (EMI \u20b9769 per lakh for a period of 30 years) for the home loan amount up to \u20b935,00,000.<\/p>\n
The home loan interest rate of ICICI Bank is benchmarked or linked to Reserve Bank of India’s Repo Rate (RR). Reserve Bank of India’s current Repo Rate, which is also called RR, is 5.15 percent per annum with effect from Friday, October 04, 2019.<\/p>\n
ICICI Bank Limited’s reduction in current mortgage loan interest rate will bring down the cost of funds for those people who have taken their home loan advances on floating rate of interest. However, this interest rates revision will not affect the ICICI Bank Limited\u2019s fixed rate customers, as their contracted rates will remain unchanged.<\/p>\n
8.25% (Repo Rate 5.15% + 3.10%) to 8.90% (Repo Rate 5.15% + 3.75%) Per Annum for Home Loan Amount up to \u20b935,00,000<\/p>\n
8.40% (Repo Rate 5.15% + 3.25%) to 9.05% (Repo Rate 5.15% + 3.90%) Per Annum for Home Loan Amount \u20b935,00,001 to \u20b975,00,000<\/p>\n
8.60% (Repo Rate 5.15% + 3.45%) to 9.25% (Repo Rate 5.15% + 4.10%) Per Annum for Home Loan Amount above \u20b975,00,000<\/p>\n
8.50% (Repo Rate 5.15% + 3.35%) to 9.15% (Repo Rate 5.15% + 4.00%) Per Annum for Home Loan Amount up to \u20b935,00,000<\/p>\n
8.60% (Repo Rate 5.15% + 3.45%) to 9.25% (Repo Rate 5.15% + 4.10%) Per Annum for Home Loan Amount \u20b935,00,001 to \u20b975,00,000<\/p>\n
8.70% (Repo Rate 5.15% + 3.55%) to 9.35% (Repo Rate 5.15% + 4.20%) Per Annum for Home Loan Amount above \u20b975,00,000<\/p>\n
8.25% (Repo Rate 5.15% + 3.10%) to 8.90% (Repo Rate 5.15% + 3.75%) Per Annum for Home Loan Amount up to \u20b935,00,000<\/p>\n
8.40% (Repo Rate 5.15% + 3.25%) to 9.05% (Repo Rate 5.15% + 3.90%) Per Annum for Home Loan Amount \u20b935,00,001 to \u20b975,00,000<\/p>\n
8.60% (Repo Rate 5.15% + 3.45%) to 9.25% (Repo Rate 5.15% + 4.10%) Per Annum for Home Loan Amount above \u20b975,00,000<\/p>\n
8.50% (Repo Rate 5.15% + 3.35%) to 9.15% (Repo Rate 5.15% + 4.00%) Per Annum for Home Loan Amount up to \u20b935,00,000<\/p>\n
8.60% (Repo Rate 5.15% + 3.45%) to 9.25% (Repo Rate 5.15% + 4.10%) Per Annum for Home Loan Amount \u20b935,00,001 to \u20b975,00,000<\/p>\n
8.70% (Repo Rate 5.15% + 3.55%) to 9.35% (Repo Rate 5.15% + 4.20%) Per Annum for Home Loan Amount above \u20b975,00,000<\/p>\n
ICICI Bank Home Loan Interest Rate for Weaker Section Borrower: 8.25% Per Annum for Home Loan Amount up to \u20b928,00,000<\/p>\n
ICICI Bank Home Loans Minimum Borrowing Amount: Minimum Home Loan Amount is \u20b93,00,000<\/p>\n
ICICI Bank Home Loans Rate of Interest is Floating or Fixed: Floating Rate of Interest (Reset Period 1 Year)<\/p>\n
ICICI Bank Home Loan Processing Fee and Documentation Charges: 0.50% to 1.00% of the Loan Amount (Minimum \u20b91,500 plus GST)<\/p>\n
Minimum Tenure for the ICICI Bank Home Loan: Minimum Home Loan Tenure is 3 Years<\/p>\n
Maximum Tenure for the ICICI Bank Home Loan: Maximum Home Loan Tenure is 30 Years<\/p>\n
Minimum Age Limit for Getting the ICICI Bank Home Loan Sanctioned: Minimum 24 Years at the Time of Home Loan Commencement<\/p>\n
Maximum Age Limit for Getting the ICICI Bank Home Loan Sanctioned: Maximum 60 Years for Salaried Applicants and 65 Years for Self-Employed Applicants<\/p>\n
ICICI Bank Home Loan Pre Closure Charges or Prepayment Penalty: Nil Charges or Penalty for ICICI Bank Home Loans and ICICI Bank Home Improvement Loans with floating rate of interest.<\/p>\n
Charges for ICICI Bank Home Loan EMI Late Payment: Minimum 2% Per Month of the ICICI Bank Home Loan EMI Outstanding Amount (Minimum \u20b9500 Maximum \u20b95,000 plus GST)<\/p>\n
ICICI Bank Home Loan EMI Cheque, AD, or ECS Bounce Charges: \u20b9500 plus GST<\/p>\n
Conversion Charges for ICICI Bank Floating Rate of Interest Home Loan: 0.50% of the ICICI Bank Home Loan Principal Outstanding Amount plus GST<\/p>\n
Guarantor Requirement for the ICICI Bank Home Loan: No Guarantor is Required<\/p>\n
ICICI Bank Home Loan Margin Amount: Minimum 15% of the House or Property Purchase Value<\/p>\n
Different Options for Making ICICI Bank Home Loan EMI Payments: The four options for making EMI payments are Internet Banking, Standing Instruction (SI), Electronic Clearing Service (ECS), or Post-Dated Cheques (PDCs)<\/p>\n
Note:<\/strong><\/p>\n MCLR = I-MCLR (ICICI Bank MCLR)<\/p>\n Base Rate = I-Base (ICICI Bank Base Rate)<\/p>\n Benchmark Prime Lending Rate = I-BAR (ICICI Bank Benchmark Advance Rate)<\/p>\nCurrent Deposits and Loans Interest Rates of ICICI Bank Limited<\/h6>\n