HOW TO APPLY ONLINE HOME LOAN WITH ICICI BANK
The pandemic Covid-19 has shaken the entire nation and has encountered detrimental effects in the majority of the sectors in India. Banking is one such sector which is badly hit owing to the coronavirus breakout. RBI however from time to time has introduced newer reforms in support to protect the interest of the public by amending its various policies for the welfare of the public in general; corresponding to which banks have adopted new policies, techniques and methods to reach out to people.
Recently ICICI Bank also took a crucial decision to start online loan applications for its home loan customers. Owing to the effects of coronavirus lockdown, it has become practically impossible for the customers to reach the bank to process their loan applications or submit the hard copies. Taking this into consideration ICICI bank through its Express Home Loan product has made it convenient for the customers to opt online for their loan requirements. The desiring customers can upload their documents and KYC along with the online application form to get a Provisional Sanction letter from the bank. (Provisional Sanction is given only on the basis of an applicant’s income eligibility). Once lockdown is opened, the bank will provide an official sanction letter to the applicant. The online loan processing benefits the applicant as it saves his time and the applicant can track the status of his loan application and also view online his submitted documents.
Below mentioned are the FAQs on ICICI Bank’s Express Home Loan
Q. What products can be applied through Express Home Loan?
Ans. Through Express Home Loan the applicant can apply for Home Loan, Home Loan Balance Transfer and Top-Up loans. The applicant can select the products from the drop down at the first page.
Q. What documents the sales representative will collect on visiting the customer after sanction of the case from the credit manager?
Ans. The sales representative has to collect duly signed application form, KYC documents, processing fees cheque, any other pending documents which were not uploaded by the customer online or any other documents as per the PSD condition mentioned on the sanction letter. (Learn how to read a sanction letter on our blog- “How To Read The Home Loan Sanction Letter Of The Bank)
Q. If the customer wants to upload the documents later, how can the same be done?
Ans. If the customer wants to upload the documents later, he needs to open the link, Click on option > My application. Login to “my application” using the mobile number and application number and then upload the remaining documents.
Q. If the customer doesn’t have an existing relationship with ICICI BANK, will he be able to apply under Express Home Loan?
Ans.- Yes, customers who are not having any existing relationship with ICICI BANK, can also apply for a loan under Express Home Loan.
Q. Is there any difference in the rate of interest – for the existing customers and non-existing customers?
Ans. No, the rate of interest will remain the same for existing customers as well as for non-existing customers.
Q. How can a customer get in touch with the representative of ICICI bank?
Ans. Once the customer uploads his documents online he will receive a coordination call from the sales representative of ICICI bank. The customer can then clear his doubts if any regarding his loan process.
Q. Can a loan be disbursed through an online process?
Ans. The online disbursement of loan is non- implemented, because the customer needs to handover the original property paper to the bank before the final disbursement of the loan.
Q. Are there any additional charges for online processing of home loans?
Ans.- NO, there are no additional charges for online processing of the home loan. The applicable charges are the same i.e. the processing fees + the applicable taxes.
To know more on Express Home Loan contact loanfasttrack on 9321020476 or log on to https://www.loanfasttrack.com/ for additional details. Loanfasttrack is run by Reverso Fin Solution, an authorized channel partner for ICICI Bank.
Loanfasttrack is a Mumbai based loan provider company since 2015 offering loan services in Mumbai on– housing loan in Mumbai, mortgage loan in Mumbai, personal loan in Mumbai, business Loan, unsecured business loans, home loan transfer, top-up loans, car loans, educational loans and loan transfers.
It also helps you:
√ To find the best bank for home loan
√ To get lowest home loan rates in Mumbai
√ To get an instant loan in Mumbai
√ To get instant personal loan in Mumbai & business loan in Mumbai
√ To make you qualify for the maximum loan against property eligibility
√ To get a low cost home loan balance transfer
√ To get assured low interest rates for loan against property in Mumbai