ICICI Bank Loan Against Property (LAP)
| Lowest Lap Rate Of Interest In ICICI Bank – @ 8.90%* p.a. |
ICICI bank lap loans are suitable to meet immediate fund requirements of business and personal needs at attractive low ICICI lap loan interest rate with flexible repayment options available up-to 15years.
(Loan Against Property is also referred to as Mortgage Loan)
Prominent Features Of ICICI Loan Against Property
- Easy & hassle free application process for ICICI mortgage loan.
- Enjoy comfortable EMIs for ICICI lap with long tenure up-to 15 years.
- Both residential and commercial property can be mortgaged.
- ICICI bank mortgage loan available for NRIs.
- ICICI bank overdraft against property is possible.
- Competitive rates available for ICICI loan against property interest rate.
- Fixed and floating interest rates available.
- Fast processing of ICICI home mortgage loans.
- Special offers for doctors- loan up-to 70% of the market value available.
- Attractive ICICI bank lap rate for existing mortgage loan balance transfer.
Details Of Lap Loan ICICI Bank
Loan against property eligibility ICICI Bank – is assessed based on the financials of the loan borrower and the value of the property being offered as a collateral. Given below are the details of the mortgage loan ICICI Bank.
| Eligible Profiles | Salaried, Self-Employed, Self-Employed Professionals and NRIs. |
| Property To Mortgage | Residential and Commercial. |
| Age Of The Borrower | Minimum: 25 Years Maximum: 65 Years or retirement age whichever is earlier. |
| Loan Amount | Rs.10 lakhs – Rs.5 crores. |
| Loan Tenure | Up-to 15 years. |
| ICICI Lap Rate Of Interest | Starts from 8.95%*p.a. |
| Processing Fees | Up-to 1% on loan amount + applicable GST. |
| Administrative Charges | Rs.5000 + applicable GST OR 0.25% + applicable GST (whichever is low) |
| CIBIL Report Charge | Rs.50 + applicable GST. |
| LTV (Loan To Value) | 60%-70% |
| Part- Payment Charges | Nil. |
| Pre- Payment / Foreclosure Charges | 4% + applicable GST. (Applicable Only for non-individual borrowers i.e. self-employed – Proprietorship Firm, Private Ltd., Public Ltd. Partnership Firm, HUF) |
ICICI Bank Loan Against Property Rate Of Interest
Given below is the table for ICICI lap rate for various loan slabs for both salaried and self- employed.
| Slabs | Loan Against Property Interest Rate ICICI | |
| Priority Sector Lending (PSL) | Non- Priority Sector Lending (Non PSL) | |
| Up-to Rs.50 Lakhs | RR + 5% (9%) | RR + 5.10% (9.10%) |
| Rs.50 Lakhs – Rs.1 Crore | RR + 4.95% (8.95%) | RR + 5.05% (9.05%) |
| Above Rs.1 Crore | RR + 4.90% (8.90%) | RR + 5% (9%) |
Note: (i) RR = Repo Rate, Repo Rate is 4% as on Sept 2020.
(ii) Lap interest rate ICICI – are subject to change without prior notice.
List Of Other Charges
| Conversion Charges | 0.50% of outstanding loan amount + applicable GST. (For floating to floating, dual fixed rate to floating, floating to dual fixed rate) 1.75% of outstanding loan amount + applicable GST. (For lifetime fixed to floating) |
| Repayment Mode Swap charges | Rs.500/- |
| Documents retrieval charges | Rs.500/- |
| Cheque / AD / ECS / Bounce Charges | Rs.500/- |
| Duplicate No Objection Certificate / No Due Certificate | Rs.100/- |
| Revalidation of No Objection Certificate | Rs.100/- |
| Late payment charges | 2% per month. |
ICICI Bank Lap EMI Calculator
ICICI loan against property EMI calculator is helpful to calculate the outgo for the mortgage loan EMI. Enter the details – loan amount, rate of interest and tenure and get the per month installment figure along-with the interest payable.
Calculate Your EMI & compare multiple EMIs with different loan tenures and interest rates with Loanfasttrack’s EMI calculator. The EMI calculator also gives you the figure for total interest payable on the loan amount.
NRI Loan Against Property ICICI Bank
ICICI Bank also provides mortgage loan for NRIs. ICICI NRI loan against property is available only for salaried NRIs working in the countries other than Iran, North Korea (Democratic People’s Republic of Korea), Cuba, Syria, Sudan, and Crimea Region of Ukraine, Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Nepal, Macau, Nigeria, Hong Kong or Bhutan.
Details For Loan Against Property For NRI
- Applicable only for salaried NRIs.
- NRI needs to be present in person at the time of initial loan application.
- A salaried borrower with Indian merchant navy is considered as an NRI.
- Minimum salary required is $42,000 (US and other countries), 84,000 AED (GCC countries), & USD 2000 p.m. for 9 months for merchant navy.
Click to know NRI list of documents for applying for a mortgage loan.
For Detail information on NRI home loans refer to – https://www.loanfasttrack.com/blog/blog/finance/everything-you-must-about-nri-home-loans/
&
For NRI home loan transfer refer to – https://www.loanfasttrack.com/blog/blog/finance/home-loan-transfer-for-nri/
Documents Required For Loan Against Property In ICICI Bank
| Salaried | Self-Employed | |
| KYC | Pan Card, Aadhar Card, Residence & Office Proof | Pan Card, Aadhar Card, Residence & Office Proof |
| Income Documents | 1) 4 Months Salary Slips 2) 2 Years Form 16 3) 6 Months Bank Account Statement. | 1) 3 Years ITR Copy with Saral Copy, Balance Sheet, P&L account, Capital Account – CA certified with membership no. 2) Business Profile 3) Business Proofs. |
| Property Documents | 1) Prior Chain Of Agreement 2) OC /CC + Plan Copy 3) Index 2 4) Share Certificate 5) Property Tax 6) Property Maintenance 7) Society Registration Certificate | 1) Prior Chain Of Agreement 2) OC /CC + Plan Copy 3) Index 2 4) Share Certificate 5) Property Tax 6) Property Maintenance 7) Society Registration Certificate |
| For Detailed List Refer | Mortgage loan list of documents for salaried customers – Click. | |
| Document checklist for mortgage loan balance transfer for salaried customers- Click. |
For Enquire on commercial property loan interest rates ICICI bank – contact Loanfasttrack.
| Apply Today For Mortgage Loan ICICI Bank – Contact Loanfasttrack For Best Offers. |
Loanfasttrack is a direct sales associate with leading banks namely, ICICI Bank, HDFC Ltd, Canara Bank, Citi Bank, Piramal Housing Finance, etc. It is a Mumbai based loan provider company since 2015 offering loan services in Mumbai.
Services Offered By Loanfattrack Includes – Housing Loan In Mumbai, Mortgage Loan In Mumbai, Personal Loan In Mumbai, Business Loan In Mumbai, Unsecured Business Loans,Home Loan Transfer, Top-up Loans, Car Loans, Educational Loans And Loan Transfers.
Loanfasttrack provides you hassle free services at your doorsteps with comparative evaluations of more than 13+ top banks, with no additional cost. Checkout specialized services for providing:
- The Best bank for home loan.
- Make you qualify for the maximum loan against property eligibility.
- Assured low interest rates for loan against property in Mumbai.
- Lowest home loan rates in Mumbai.
- Instant loan in Mumbai.
- Instant personal loan in Mumbai & business loan in Mumbai.
- Low cost home loan balance transfer.
Speak to our experts on 9321020476 or log on to https://www.loanfasttrack.com/ for additional details. You can also email on info@loanfasttrack.com.
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