{"id":359,"date":"2020-07-18T07:39:16","date_gmt":"2020-07-18T07:39:16","guid":{"rendered":"https:\/\/www.loanfasttrack.com\/blog\/?p=359"},"modified":"2020-07-18T07:39:16","modified_gmt":"2020-07-18T07:39:16","slug":"why-choose-icici-bank-home-loans","status":"publish","type":"post","link":"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/why-choose-icici-bank-home-loans\/","title":{"rendered":"Why Choose ICICI Bank Home Loans?"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"684\" src=\"https:\/\/www.loanfasttrack.com\/blog\/wp-content\/uploads\/2020\/07\/ICICI-BANK-1024x684.png\" alt=\"ICICI Bank Home Loan - Loanfasttrack\" class=\"wp-image-360\" srcset=\"https:\/\/www.loanfasttrack.com\/blog\/wp-content\/uploads\/2020\/07\/ICICI-BANK.png 1024w, https:\/\/www.loanfasttrack.com\/blog\/wp-content\/uploads\/2020\/07\/ICICI-BANK-300x200.png 300w, https:\/\/www.loanfasttrack.com\/blog\/wp-content\/uploads\/2020\/07\/ICICI-BANK-768x513.png 768w, https:\/\/www.loanfasttrack.com\/blog\/wp-content\/uploads\/2020\/07\/ICICI-BANK-800x534.png 800w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>ICICI bank is one of the largest home loan providers in India which provides home loans to purchase, repair, renovate or redecorate and construct your home with ICICI\u2019s range of home loan products. The bank offers you with a variety of home loan schemes at low processing fees and attractive interest rates with extended loan tenures upto 30years in addition with easy repayment options and full waiver of prepayment penalty on floating interest rate loans. ICICI Bank\u2019s attractive interest rates start from 6.95% p.a and flat processing fees of 0.30% on the loan amount. <\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Advantages Of ICICI Bank Home Loans<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\"><li>Wide\nrange of products.<\/li><li>Over\n900 Bank Branches pan India to service your loans.<\/li><li>Guidance throughout the process making home\nbuying hassle free.<\/li><li>Pre-approved home loan facility\navailable.<\/li><li>Sanction approval without having selected\na property.<\/li><li>Simplified Documentation.<\/li><li>Flexible repayment options upto 30 years.<\/li><li>Quick loan approvals.<\/li><li>Faster disbursements.<\/li><li>Home loan insurance options available at\nattractive premiums to ease the burden of loan repayments on you and your\nfamily in any unforeseen incidents. <\/li><li>Attractive interest rates which starts\nfrom 6.95% pa.<\/li><li>Floating and fixed interest rate option\navailable. <\/li><li>PMAY credit linked subsidy schemes\navailable with subsidy upto Rs.2.67 lakhs.<\/li><\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>ICICI\nBank Home Loans Offers Home Loan For Following Purposes<\/strong><\/h4>\n\n\n\n<p>1) <strong>Home Loan<\/strong>: Loan taken to purchase a new residential property,\napplied individually or jointly with a co-applicant.<\/p>\n\n\n\n<p>2) <strong>Home Improvement Loan<\/strong>: Loan taken for renovations and repairs such\nas home interiors, painting, water-proofing, external repair work, electrical\nwork, etc.<\/p>\n\n\n\n<p>3) <strong>Balance Transfer<\/strong>: Loan transfer from another lender Bank\/NBFC to\navail the benefit of low interest rates and increased tenures.<\/p>\n\n\n\n<p>4) <strong>Top-Up Loan<\/strong>: Loan taken on the already existing home loan to meet\nthe immediate requirement of funds. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\">ICICI Bank Home Loan Details<\/h3>\n\n\n\n<p><strong>Interest Rates<\/strong>: Starts from 6.95%p.a. The ICICI Bank\u2019s interest rates are linked to repo rates. Below mentioned is the interest slab for salaried and self-employed as on July 14,2020. Current repo rate is 4%.<\/p>\n\n\n\n<p>For\nSalaried Borrowers<\/p>\n\n\n\n<table class=\"wp-block-table\"><tbody><tr><td>\n  Slab\n  <\/td><td>\n  Floating Interest Rates\n  <\/td><\/tr><tr><td>\n  Up-to Rs.35lakhs\n  <\/td><td>\n  RR + 2.95% (6.95%) &#8211; RR + 3.60% (7.60%)\n  <\/td><\/tr><tr><td>\n  Rs.35lakhs- 75lakhs\n  <\/td><td>\n  RR + 3.20% (7.20%) &#8211; RR + 3.75% (7.75%)\n  <\/td><\/tr><tr><td>\n  Above 75lakhs\n  <\/td><td>\n  RR + 3.30% (7.30%) &#8211; RR + 3.95% (7.95%)\n  <\/td><\/tr><\/tbody><\/table>\n\n\n\n<p>For\nSelf-Employed Borrowers<\/p>\n\n\n\n<table class=\"wp-block-table\"><tbody><tr><td>\n  Slab\n  <\/td><td>\n  Floating Interest Rates\n  <\/td><\/tr><tr><td>\n  Up-to Rs.35lakhs\n  <\/td><td>\n  RR + 3.20% (7.20%) &#8211; RR + 3.85% (7.85%)\n  <\/td><\/tr><tr><td>\n  Rs.35lakhs- 75lakhs\n  <\/td><td>\n  RR + 3.35% (7.35%) &#8211; RR + 3.95% (7.95%)\n  <\/td><\/tr><tr><td>\n  Above 75lakhs\n  <\/td><td>\n  RR + 3.45% (7.45%) &#8211; RR + 4.05% (8.05%)\n  <\/td><\/tr><\/tbody><\/table>\n\n\n\n<p>For\nHome Loan Balance Transfer<\/p>\n\n\n\n<table class=\"wp-block-table\"><tbody><tr><td>\n  Segment\n  <\/td><td>\n  Floating Interest Rates\n  <\/td><\/tr><tr><td>\n  Salaried\n  (Any loan amount)\n  <\/td><td>\n  RR+3.10% (7.10%) \u2013 RR+3.35% (7.35%)\n  <\/td><\/tr><tr><td>\n  Self-Employed\n  (Any loan amount)\n  <\/td><td>\n  RR+3.25% (7.25%) \u2013 RR+3.50% (7.50%)\n  <\/td><\/tr><\/tbody><\/table>\n\n\n\n<p><em>Note: (i) Interest rates\nmentioned above may vary depending&nbsp; upon\nthe CIBIL score, profile, segments, different loan products, etc.<\/em><\/p>\n\n\n\n<p><em>(ii) Interest rates are subject\nto change as per RBI\u2019s discretion without prior notice.<\/em><em> <\/em><\/p>\n\n\n\n<p><strong>Loan Amount<\/strong>: The home loan amount starts from Rs.5lakhs\nonwards. Maximum ceiling limit is of Rs.20crores.<\/p>\n\n\n\n<p><strong>Eligibility Criteria<\/strong>: A borrower with regular flow of\nincome and within the age\ngroup of 21 years to 70 years.<\/p>\n\n\n\n<table class=\"wp-block-table\"><tbody><tr><td>\n  &nbsp;\n  <\/td><td>\n  Age\n  Bracket\n  <\/td><\/tr><tr><td>\n  Applicant\n  \n  <\/td><td>\n  18\n  years &#8211; 70 years\n  <\/td><\/tr><tr><td>\n  Co-Applicant\n  \n  <\/td><td>\n  21\n  years &#8211; 70 years\n  <\/td><\/tr><tr><td>\n  NRI\n  <\/td><td>\n  25\n  years &#8211; 60 years\n  <\/td><\/tr><\/tbody><\/table>\n\n\n\n<p><strong>Who Can Apply<\/strong>: Salaried, self-employed-\n(proprietor, partner), self-employed professionals, company- partnership firm,\nproprietorship firm, private limited and NRI.<\/p>\n\n\n\n<p><strong>Loan Tenure<\/strong>: Minimum tenure has to be 5 years and is\navailable till 30 years. <\/p>\n\n\n\n<p><strong>CIBIL Score<\/strong>: Required CIBIL score is 750 and above. <\/p>\n\n\n\n<p><strong>Processing Fees &amp; Other Charges<\/strong>: <\/p>\n\n\n\n<table class=\"wp-block-table\"><tbody><tr><td>\n  Processing Fees (non-refundable)\n  <\/td><td>\n  0.30%-1% on the loan amount + applicable\n  GST.\n  <\/td><\/tr><tr><td>\n  Administrative Charges (one time\n  non-refundable)\n  <\/td><td>\n  Rs.5000\/- (legal and technical charge) +\n  applicable GST.\n  <\/td><\/tr><tr><td>\n  Cheque\/AD\/ECS bounce Charges\n  <\/td><td>\n  Rs.500\/- + applicable GST.\n  <\/td><\/tr><tr><td>\n  Document Retrieval Charges\n  <\/td><td>\n  Rs.500\/- + applicable GST.\n  <\/td><\/tr><tr><td>\n  CIBIL Report Charges\n  <\/td><td>\n  Rs.100\/- + applicable GST.\n  <\/td><\/tr><tr><td>\n  Cersai Charges\n  <\/td><td>\n  Rs.100\/- + applicable GST.\n  <\/td><\/tr><tr><td>\n  Late Payment Charges \n  <\/td><td>\n  Home loan: 2% per month \n  &nbsp;\n  Home OD : 1.5% of the outstanding amount\n  subject to minimum of Rs. 500\/- &amp; Maximum of Rs.5000\/-\n  <\/td><\/tr><tr><td>\n  Foreclosure Charges\n  <\/td><td>\n  For home loan with floating interest rates &#8211;\n  NIL.\n  &nbsp;\n  For home loan with fixed interest rates &#8211;\n  2%-4% on the outstanding loan amount + applicable GST.\n  &nbsp;\n  <\/td><\/tr><tr><td>\n  Conversion Charges \n  <\/td><td>\n  If Prepayment charges are not applicable in\n  the loan&nbsp; &#8211;\n  Rs. 1000\/- plus applicable GST.\n  &nbsp;\n  If Prepayment charges are applicable in the\n  loan then below conversion charges are applicable\n  Floating to Floating &#8211; 0.5% of the principal\n  outstanding + applicable GST.\n  Dual fixed rate to Floating &#8211; 0.5% of the\n  principal outstanding + applicable GST.&nbsp;\n  \n  Floating to Dual fixed rate &#8211; 0.5% of the principal\n  outstanding&nbsp; + applicable GST.\n  Life time fixed to floating &#8211; 1.75% of the\n  principal outstanding&nbsp; + applicable\n  GST.\n  <\/td><\/tr><tr><td>\n  Miscellaneous charges viz. Title search, etc\n  and any other charges (as applicable) that are not budgeted or specified, but\n  are incurred by the bank on behalf of the customer.\n  <\/td><td>\n  At actual.\n  <\/td><\/tr><\/tbody><\/table>\n\n\n\n<p><em>Note: Figures mentioned above\nare subject to change as per ICICI Bank\u2019s discretion without prior notice.<\/em><em> <\/em><\/p>\n\n\n\n<p>Additional Read: <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/must-know-all-costs-in-home-loan\/\"><strong>DON\u2019T GET\nFOOLED !! MUST KNOW ALL COSTS IN HOME LOAN<\/strong><\/a><strong><\/strong><\/p>\n\n\n\n<p><strong>Loan To\nValue (LTV)<\/strong>: Varies from 75%-90% depending upon the\nloan amount and the market value of the property. <\/p>\n\n\n\n<table class=\"wp-block-table\"><tbody><tr><td>\n  Market\n  Value Of Property\n  <\/td><td>\n  LTV %\n  <\/td><\/tr><tr><td>\n  Upto\n  30lakhs\n  <\/td><td>\n  90% of\n  market value of the property.\n  <\/td><\/tr><tr><td>\n  30lakhs\n  &#8211; 75lakhs\n  <\/td><td>\n  80% of\n  the market value of the property.\n  <\/td><\/tr><tr><td>\n  75lakhs\n  and above\n  <\/td><td>\n  75% of\n  the market value of the property.\n  <\/td><\/tr><\/tbody><\/table>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img loading=\"lazy\" decoding=\"async\" width=\"381\" height=\"132\" src=\"https:\/\/www.loanfasttrack.com\/blog\/wp-content\/uploads\/2020\/07\/image-2.png\" alt=\"home loan eligibility - loanfasttrack\" class=\"wp-image-363\" srcset=\"https:\/\/www.loanfasttrack.com\/blog\/wp-content\/uploads\/2020\/07\/image-2.png 381w, https:\/\/www.loanfasttrack.com\/blog\/wp-content\/uploads\/2020\/07\/image-2-300x104.png 300w\" sizes=\"auto, (max-width: 381px) 100vw, 381px\" \/><\/figure><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>ICICI Bank Home Loan Eligibility <\/strong><\/h3>\n\n\n\n<p>Home\nloan eligibility with ICICI depends upon various factors such as your current\nage, retirement age, monthly income, net profits, professional\/employment\ndetails, fixed monthly obligations, property valuation and LTV. Your\neligibility is determined by two means<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li>Income Eligibility <\/li><\/ol>\n\n\n\n<p>Income eligibility is calculated @ FOIR (fixed obligation to\nincome ratio) % on the net income subject to deductions.<\/p>\n\n\n\n<p>Income eligibility for salaried is calculated @ 60%-65% of the net\nper month income.<\/p>\n\n\n\n<p>Income eligibility for self-employed is calculated @ 65%-70% of\nthe net profit.<\/p>\n\n\n\n<p><strong>((Net income per month X FOIR %) \u2013\nObligation OR Deductions) \u00f7 Per lakh EMI <\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Loan Eligibility as per the property\nfunding.<\/li><\/ul>\n\n\n\n<p>As per the property valuation, your eligibility will be calculated\nas under:<\/p>\n\n\n\n<p>Market value of the property X applicable LTV % (75%-90%).<\/p>\n\n\n\n<p>The\nlower figure from 1) and 2) will be your final home loan eligibility.<\/p>\n\n\n\n<p>To\ncalculate income eligibility with ICICI bank other equally important factors\nconsidered are- your profile, segment, CIBIL score, income stability, job\ncontinuity, past repayment history, etc. Income eligibility can also be\nenhanced by adding an earning co-applicant to the application. (<a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/know-the-co-applicant-in-home-loan\/\">Click to <\/a><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/know-the-co-applicant-in-home-loan\/\"><strong>Know The Co- Applicant In Home Loan<\/strong><\/a>). ICICI Bank uses the criteria such as gross turnover product,\nbanking surrogate, salary multiplier, etc. to calculate the home loan\neligibility. &nbsp;<\/p>\n\n\n\n<p>Additional\nRead: <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/what-do-you-mean-by-loan-eligibility-in-home-loan\/\"><strong>What Do You Mean\nBy Loan Eligibility In Home Loan?<\/strong><\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>ICICI Bank Home Loan EMI Calculator<\/strong><\/h3>\n\n\n\n<p>You\ncan easily estimate your monthly installment by using the ICICI bank home loan\nEMI calculator. With the help of the calculator <a href=\"https:\/\/www.loanfasttrack.com\/emi-calculator.html\">calculate how much EMI\nyou can comfortably pay <\/a><a href=\"https:\/\/www.loanfasttrack.com\/emi-calculator.html\"><strong><em>just at a single click<\/em><\/strong><\/a>. Knowing the kind of EMI you need to\npay is important for planning a budget as lower EMIs weigh light on your\nwallet. The EMI calculator also calculates for you the total interest payable\non the loan amount which helps you to choose a suitable loan tenure. At the\nsame time you can also compare multiple EMIs with different loan tenures and\ninterest rates and choose the one which is best within your budget. <\/p>\n\n\n\n<p>The\nhome loan EMI mainly depends on the principal amount, loan tenure and the rate\nof interest. With <a href=\"https:\/\/www.loanfasttrack.com\/emi-calculator.html\">these details entered on the calculator you can easily <\/a>come to know your EMI and the total\ninterest payable till the loan tenure. <\/p>\n\n\n\n<p><strong>ICICI Bank\u2019s Home\nLoan EMI for Rs. 1 Lakh loan amount at lowest 6.95% interest rate for different\ntenures&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/strong><\/p>\n\n\n\n<table class=\"wp-block-table\"><tbody><tr><td>\n  <strong>Calculated\n  Results For ICICI Bank Home Loan EMI<\/strong>\n  <\/td><td>\n  <strong>Tenure <\/strong>\n  <strong>&nbsp;<\/strong>\n  <\/td><\/tr><tr><td>\n  &nbsp;\n  <\/td><td>\n  5 Years \n  <\/td><td>\n  10 Years\n  <\/td><td>\n  15 Years\n  <\/td><td>\n  20 Years\n  <\/td><\/tr><tr><td>\n  Per Lakh EMI\n  <\/td><td>\n  Rs.1,978\/- \n  <\/td><td>\n  Rs.1,159\/-\n  <\/td><td>\n  Rs.896\/-\n  <\/td><td>\n  Rs.772\/-\n  <\/td><\/tr><tr><td>\n  Total Interest Payable\n  <\/td><td>\n  Rs.18,666\n  <\/td><td>\n  Rs.39,021\/-\n  <\/td><td>\n  Rs.61,286\/-\n  <\/td><td>\n  Rs.85,352\/-\n  <\/td><\/tr><tr><td>\n  Total amount payable including principal and\n  interest\n  <\/td><td>\n  Rs.1,18,666\/-\n  <\/td><td>\n  Rs.1,39,021\/-\n  <\/td><td>\n  Rs.1,61,286\/-\n  <\/td><td>\n  Rs.1,85,352\/-\n  <\/td><\/tr><\/tbody><\/table>\n\n\n\n<p><strong>ICICI Bank Home Loan EMI Calculator @ 7.45%\nInterest Rates<\/strong><\/p>\n\n\n\n<table class=\"wp-block-table\"><tbody><tr><td>\n  <strong>Loan\n  Amount<\/strong>\n  <\/td><td>\n  <strong>10\n  Years<\/strong>\n  <\/td><td>\n  <strong>15\n  Years<\/strong>\n  <\/td><td>\n  <strong>20\n  Years<\/strong>\n  <\/td><td>\n  <strong>25\n  Years<\/strong>\n  <\/td><td>\n  <strong>30\n  Years<\/strong>\n  <\/td><\/tr><tr><td>\n  25 Lakhs\n  <\/td><td>\n  Rs.29,610\/-\n  <\/td><td>\n  Rs.23,104\/-\n  <\/td><td>\n  Rs.20,063\/-\n  <\/td><td>\n  Rs.18,394\/-\n  <\/td><td>\n  Rs.17,395\/-\n  <\/td><\/tr><tr><td>\n  50 Lakhs\n  <\/td><td>\n  Rs.59,220\/-\n  <\/td><td>\n  Rs.46,209\/-\n  <\/td><td>\n  Rs.40,127\/-\n  <\/td><td>\n  Rs.36,787\/-\n  <\/td><td>\n  Rs.34,790\/-\n  <\/td><\/tr><tr><td>\n  75 Lakhs\n  <\/td><td>\n  Rs.88,831\/-\n  <\/td><td>\n  Rs.69,313\/-\n  <\/td><td>\n  Rs.60,190\/-\n  <\/td><td>\n  Rs.55,181\/-\n  <\/td><td>\n  Rs.52,185\/-\n  <\/td><\/tr><tr><td>\n  1 Crore\n  <\/td><td>\n  Rs.1,18,441\/-\n  <\/td><td>\n  Rs.92,417\/-\n  <\/td><td>\n  Rs.80,254\/-\n  <\/td><td>\n  Rs.73,574\/-\n  <\/td><td>\n  Rs.69,579\/-\n  <\/td><\/tr><\/tbody><\/table>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Different Home Loan Products Of ICICI Bank<\/strong><\/h3>\n\n\n\n<p>Since\nall home loan requirements are not the same, ICICI bank offers you a variety of\nhome loan products. There is a home loan product for renovation and repairs,\nhome improvement, for additional loan requirements of top-ups, for loan transfers,\nfor smaller incomes and for cash incomes earned.<\/p>\n\n\n\n<p>1) <strong>Home Loan<\/strong><\/p>\n\n\n\n<p>Home\nloan with ICICI bank is available for all borrowers right from the small income\nearners to the maximum loan requirements @ attractive interest rates which\nstarts from 6.95% p.a. with flexible loan tenures. Special discounted interest\nrates are available for women borrowers. Interest rates offered are floating as\nwell as fixed. The interest rates are linked to repo rates -RLLR.&nbsp; PMAY benefits upto Rs.2.67lakhs is also\navailable for the eligible borrowers. <\/p>\n\n\n\n<p><strong>Home Loan Features<\/strong><\/p>\n\n\n\n<table class=\"wp-block-table\"><tbody><tr><td>\n  Age \n  <\/td><td>\n  25 Years &#8211; 70 years.\n  <\/td><\/tr><tr><td>\n  Eligible\n  Profiles\n  <\/td><td>\n  Both Salaried &amp; Self-employed. \n  <\/td><\/tr><tr><td>\n  Tenure \n  <\/td><td>\n  For salaried &#8211; Upto 30 years.\n  For self-employed- Upto 15 years.\n  <\/td><\/tr><tr><td>\n  Minimum\n  Income\n  <\/td><td>\n  For\n  salaried &#8211; Rs.18,000- per month.\n  For\n  self-employed &#8211; Rs.2.6 lakhs p.a.\n  For\n  affordable housing &#8211; Rs.10,000\/- per month.\n  <\/td><\/tr><tr><td>\n  Interest\n  Rates\n  <\/td><td>\n  For\n  salaried &#8211; 6.95% -8.05%\n  <\/td><\/tr><tr><td>\n  Processing\n  Fees\n  <\/td><td>\n  0.30%-2%\n  on the loan amount + applicable GST. \n  <\/td><\/tr><tr><td>\n  Transaction\n  Type\n  <\/td><td>\n  Builder\n  purchase, resale, self-construction, extension, renovation and transfer of\n  existing loans.\n  <\/td><\/tr><\/tbody><\/table>\n\n\n\n<p>Click\nfor <strong>Home Loan <\/strong>documentations &#8211; <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/home-loan-salaried-list-of-documents-resale-case\/\"><strong>For Salaried<\/strong><\/a><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/home-loan-salaried-list-of-documents-resale-case\/\"> <\/a><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/home-loan-salaried-list-of-documents-resale-case\/\"><strong>resale case<\/strong><\/a> &amp; <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/home-loan-salaried-list-of-documents-builder-case\/\"><strong>builder case<\/strong><\/a>, <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/home-loan-list-of-documents-for-self-employed-proprietorship-firm-resale-case\/\"><strong>For Self-Employed- Proprietorship Firm<\/strong><\/a><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/home-loan-list-of-documents-for-self-employed-proprietorship-firm-resale-case\/\"> <\/a><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/home-loan-list-of-documents-for-self-employed-proprietorship-firm-resale-case\/\"><strong>resale case<\/strong><\/a> &amp; <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/home-loan-list-of-documents-for-self-employed-proprietorship-firm-builder-case\/\"><strong>builder case<\/strong><\/a>, <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/home-loan-list-of-documents-for-self-employed-private-limited-company-resale-case\/\"><strong>Private Limited Company<\/strong><\/a><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/home-loan-list-of-documents-for-self-employed-private-limited-company-resale-case\/\"> <\/a><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/home-loan-list-of-documents-for-self-employed-private-limited-company-resale-case\/\"><strong>resale case<\/strong><\/a> &amp; <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/home-loan-list-of-documents-for-self-employed-private-limited-company-builder-case\/\"><strong>builder case<\/strong><\/a>, <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/home-loan-list-of-documents-for-self-employed-partnership-firm-resale-case\/\"><strong>Partnership Firm<\/strong><\/a><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/home-loan-list-of-documents-for-self-employed-partnership-firm-resale-case\/\"> <\/a><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/home-loan-list-of-documents-for-self-employed-partnership-firm-resale-case\/\"><strong>resale case<\/strong><\/a> &amp; <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/home-loan-list-of-documents-for-self-employed-partnership-firm-builder-case\/\"><strong>builder case<\/strong><\/a>.<\/p>\n\n\n\n<p>2) <strong>Home Loan Balance Transfer<\/strong><\/p>\n\n\n\n<p>Home\nloan balance transfer is a loan product to switch your existing loan to ICICI\nbank to enjoy the benefits of low interest rate which starts from 6.95%*. The\nproduct requires a minimum CIBIL score of 750 and above and a mandatory\ncondition of good repayment track history. With ICICI\u2019s express balance\ntransfer product, loan transfer is easy and quick because the loan is\ntransferred only on the basis of your 18months repayment track record. Also\nenjoy the top-up benefit to meet your personal needs with balance transfer with\ntop-up loan and get top-up upto 100% of the loan amount. <\/p>\n\n\n\n<p>Home\nloan taken for under-construction property cannot be transferred. <\/p>\n\n\n\n<table class=\"wp-block-table\"><tbody><tr><td>\n  Minimum\n  Loan Amount\n  <\/td><td>\n  For balance transfer &#8211;\n  Rs.10 lakhs.\n  For balance transfer with\n  top-up &#8211; Rs.5 lakhs.\n  <\/td><\/tr><tr><td>\n  Precondition\n  \n  <\/td><td>\n  Good repayment history of 18 months.\n  <\/td><\/tr><tr><td>\n  Property\n  Type\n  <\/td><td>\n  Only completed properties are eligible for\n  balance transfer loan.\n  <\/td><\/tr><tr><td>\n  CIBIL\n  Score\n  <\/td><td>\n  Above\n  750\n  <\/td><\/tr><tr><td>\n  Additional\n  Documents Required\n  <\/td><td>\n  12\n  months &#8211; 18 months repayment track record.Outstanding\n  principal letter.LOD\n  (list of documents) from existing Bank\/NBFC.\n  \n  \n  <\/td><\/tr><\/tbody><\/table>\n\n\n\n<p>Click\nfor <strong>Home Loan Balance Transfer <\/strong>documentations\n&#8211; <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/home-loan-balance-transfer-list-of-documents-for-salaried\/\"><strong>For Salaried<\/strong><\/a>, <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/home-loan-balance-transfer-list-of-documents-for-self-employed-proprietorship-firm\/\"><strong>For Self-Employed- Proprietorship Firm<\/strong><\/a>,<a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/home-loan-balance-transfer-list-of-documents-for-self-employed-private-limited-company\/\"> <\/a><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/home-loan-balance-transfer-list-of-documents-for-self-employed-private-limited-company\/\"><strong>Private Limited Company<\/strong><\/a>, <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/home-loan-balance-transfer-list-of-documents-for-self-employed-partnership-firm\/\"><strong>Partnership Firm<\/strong><\/a>.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.loanfasttrack.com\/balance-transfers.html\"><strong>Click to switch your high interest rate home loan to\n7%-7.50%. <\/strong><\/a><\/p>\n\n\n\n<p>3) <strong>Top-Up Loan<\/strong><\/p>\n\n\n\n<p>Top-up\nLoans are provided as additional funding on an existing ICICI bank home loan or\non balance transfers of home loan. The top-up funds can be used for any\nbusiness or personal use except speculative purposes. To avail the top-up you\nmust have a good track record with ICICI bank. The top-up amount is subject to\nyour income eligibility and the market value of the property.<\/p>\n\n\n\n<table class=\"wp-block-table\"><tbody><tr><td>\n  Minimum\n  Loan Amount\n  <\/td><td>\n  Rs. 50,000\/-\n  <\/td><\/tr><tr><td>\n  Maximum\n  Loan Amount\n  <\/td><td>\n  100% of original loan amount sanctioned\n  <\/td><\/tr><tr><td>\n  Purpose\n  <\/td><td>\n  Personal as well as business use.\n  <\/td><\/tr><tr><td>\n  Property\n  Type\n  <\/td><td>\n  Only completed properties eligible for\n  top-up loan\n  <\/td><\/tr><tr><td>\n  LTV\n  <\/td><td>\n  Upto\n  80%.\n  <\/td><\/tr><tr><td>\n  Maximum\n  Tenure\n  <\/td><td>\n  Balance tenure of existing loan or 10 years\n  whichever is higher. \n  (subject to max tenure defined as per the\n  customer profile)\n  <\/td><\/tr><\/tbody><\/table>\n\n\n\n<p>4) <strong>Instant Pre-Approved Loans<\/strong><\/p>\n\n\n\n<p><strong>Instant Home Loan<\/strong><\/p>\n\n\n\n<p>The facility of instant home loan\nsanction is available only for the borrowers having a salary account with ICICI\nbank and pre-approved home loan offers (Pre-approved home loan is the loan\namount based on the salary credits appearing in the bank account). You\ncan generate your home loan sanction letter online in just a few clicks and no\ndocuments are required to get a loan sanction. Exclusive top offers are available for top corporates.&nbsp; <\/p>\n\n\n\n<p>Steps\nfor Instant Home Loan:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>View\noffer and <a href=\"https:\/\/www.loanfasttrack.com\/home-loan\/apply-online-now.html\">select your home loan\noffer<\/a>.<\/li><li>Pay a\ndiscounted processing fee<\/li><li>Download\nyour sanction letter<\/li><\/ul>\n\n\n\n<table class=\"wp-block-table\"><tbody><tr><td>\n  Eligible\n  Profile\n  <\/td><td>\n  Salaried\n  having a salary account with ICICI bank and pre-approved home loan offer.\n  <\/td><\/tr><tr><td>\n  Maximum\n  Loan Amount\n  <\/td><td>\n  Rs.3\n  crore.\n  <\/td><\/tr><tr><td>\n  Tenure \n  <\/td><td>\n  Upto 30\n  years.\n  <\/td><\/tr><tr><td>\n  Sanction\n  Validity\n  <\/td><td>\n  6\n  months.\n  <\/td><\/tr><tr><td>\n  Interest\n  Rates\n  <\/td><td>\n  6.95% &#8211;\n  7.95%\n  <\/td><\/tr><\/tbody><\/table>\n\n\n\n<p><strong>Instant Balance Transfer<\/strong><\/p>\n\n\n\n<p>The Instant Balance Transfer sanction is\navailable only for borrowers having a salary account with ICICI bank and\npre-approved balance transfer offer. Pre-approved balance transfer offers are\ngenerated for customers on the basis of the ongoing loan(s) of the customers.\nYou can transfer maximum 2 loans in instant balance transfer. <\/p>\n\n\n\n<p>Generate instant sanction letter within 3\nclicks.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>View and <a href=\"https:\/\/www.loanfasttrack.com\/balance-transfers.html\">select your balance transfer offer<\/a>.<\/li><li>Pay a\ndiscounted processing fee.<\/li><li>Download\nyour sanction letter.<\/li><\/ul>\n\n\n\n<table class=\"wp-block-table\"><tbody><tr><td>\n  Eligible\n  Profile\n  <\/td><td>\n  Salaried\n  having a salary account with ICICI bank and pre-approved balance transfer\n  offer.\n  <\/td><\/tr><tr><td>\n  Maximum\n  Loan Amount\n  <\/td><td>\n  Rs.3\n  crore.\n  <\/td><\/tr><tr><td>\n  Tenure \n  <\/td><td>\n  Upto 30\n  years.\n  <\/td><\/tr><tr><td>\n  Sanction\n  Validity\n  <\/td><td>\n  6\n  months.\n  <\/td><\/tr><tr><td>\n  Interest\n  Rates\n  <\/td><td>\n  7.10% &#8211;\n  7.35%\n  <\/td><\/tr><\/tbody><\/table>\n\n\n\n<p><strong>Insta\nTop-Up<\/strong><\/p>\n\n\n\n<p>Insta top-up loan is an pre-approved loan\navailable to meet your instant financial needs. It provides an instant solution\nto all your business and personal requirements. The loan can be applied in 3\nsimple steps.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>View and <a href=\"https:\/\/www.loanfasttrack.com\/home-loan.html\">select your top-up offer<\/a>.<\/li><li>Pay a\ndiscounted processing fee.<\/li><li>Download\nyour sanction letter.<\/li><\/ul>\n\n\n\n<table class=\"wp-block-table\"><tbody><tr><td>\n  Eligible\n  Profile\n  <\/td><td>\n  Salaried\n  having a salary account with ICICI bank and pre-approved top-up offer.\n  <\/td><\/tr><tr><td>\n  Maximum\n  Loan Amount\n  <\/td><td>\n  Rs.1\n  crore.\n  <\/td><\/tr><tr><td>\n  Tenure \n  <\/td><td>\n  Upto 10\n  years.\n  <\/td><\/tr><tr><td>\n  Sanction\n  Validity\n  <\/td><td>\n  6\n  months.\n  <\/td><\/tr><tr><td>\n  Interest\n  Rates\n  <\/td><td>\n  7.10% &#8211;\n  7.50%\n  <\/td><\/tr><\/tbody><\/table>\n\n\n\n<p>5) <strong>Home Improvement Loan<\/strong> <\/p>\n\n\n\n<p>Home\nimprovement loan is available for refurbishing your house. Home improvement\nloan cover a range of facilities internal as well as external to the structure\nwithout increasing in the living space. Home improvement loan is based on the\nestimation of the cost of improvement to be approved by the bank. It cannot be\nsought under Instant Home Loan. <\/p>\n\n\n\n<table class=\"wp-block-table\"><tbody><tr><td>\n  Loan\n  Amount \n  <\/td><td>\n  Minimum\n  &#8211; Rs.5 lakhs.\n  Maximum\n  &#8211; Rs.15 lakhs.\n  <\/td><\/tr><tr><td>\n  Loan\n  Tenure\n  <\/td><td>\n  Minimum\n  &#8211; 3 years.\n  Maximum\n  &#8211; 20 years.\n  <\/td><\/tr><tr><td>\n  Interest\n  Rates\n  <\/td><td>\n  6.95% &#8211;\n  8.05%\n  <\/td><\/tr><\/tbody><\/table>\n\n\n\n<p>6) <strong>Express Home Loan<\/strong><\/p>\n\n\n\n<p>Express\nhome loan is available to get quick and easy home loan sanctioned online. Both\nsalaried and self-employed can apply for this product without visiting the\nbranch or the sales executives. By simply applying online, providing basic\ndetails, filling the application form and by uploading the required KYC &amp;\nincome documents you can generate your provisional sanction letter.<\/p>\n\n\n\n<p>7) <strong>Extra Home Loans<\/strong><\/p>\n\n\n\n<p>Extra\nhome loan provides dual advantage of improved affordability and a longer\nrepayment period. Both salaried and self-employed are eligible to apply for\nthis loan. It is available in 3 variants to address the needs of middle age\nsalaried individuals (up-to 48years), self-employed professionals (earning\nhigher income in some months of the year, given the seasonality of the business\nthey are in) and young age salaried individuals (up-to 37years). <\/p>\n\n\n\n<p>The\nproduct allows to enhance your home loan amount by upto 20% and therefore make\nyourself qualify for a higher loan amount. You can also extend your repayment\ntenure upto 67years of your age provided the enhancement in loan &amp;\nrepayment period is backed by mortgage guarantee. <\/p>\n\n\n\n<p>The maximum home loan that can be availed under extra home\nloans is Rs.2crs.<\/p>\n\n\n\n<p>The loan is offered in association with\nIndian Mortgage Guarantee Corporation (IMGC), a joint venture between National\nHousing Bank, Genworth Financial Inc., Asian Development Bank and International\nFinance Corporation.<\/p>\n\n\n\n<p>8) <strong>NRI\nHome Loans<\/strong><\/p>\n\n\n\n<p>Both salaried and self employed NRIs can\napply for a home loan to purchase a house, build a house or purchase a property\nin India provided he is not a citizen of Iran, Pakistan, Bangladesh, Sri Lanka, Afghanistan, China,\nNepal, North\nKorea (Democratic People\u2019s Republic of Korea), Cuba, Syria, Sudan, and Crimea\nRegion of Ukraine, Macau, Nigeria,\nHongkong or Bhutan. <\/p>\n\n\n\n<p><strong>NRI Home Loan Eligibility <\/strong><\/p>\n\n\n\n<table class=\"wp-block-table\"><tbody><tr><td>\n  Age \n  <\/td><td>\n  Minimum: 21 Years\n  Maximum: 65 Years or retirement age\n  whichever is earlier at the time of maturity of loan.\n  <\/td><\/tr><tr><td>\n  Eligible\n  Profiles\n  <\/td><td>\n  Salaried: Minimum 1 year of employment\n  overseas\n  Self-Employed: Minimum 3 years in current\n  business overseas\n  <\/td><\/tr><tr><td>\n  Tenure \n  <\/td><td>\n  Home Loan: 30 Years\n  Home Improvement Loan: 15 Years\n  Land Loan: 20 Years\n  <\/td><\/tr><tr><td>\n  Minimum Income\n  <\/td><td>\n  Rs. 2lakhs\n  <\/td><\/tr><tr><td>\n  Interest Rates\n  <\/td><td>\n  For salaried &#8211; 6.95% &#8211; 7.95%\n  For self-employed &#8211; 7.20% &#8211; 8.05%\n  <\/td><\/tr><\/tbody><\/table>\n\n\n\n<p>Click to know the <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/nri-list-of-documents-for-applying-home-loan\/\"><strong>NRI List Of\nDocuments For Applying Home Loan<\/strong><\/a>.<\/p>\n\n\n\n<p>Additional Read: <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/everything-you-must-about-nri-home-loans\/\"><strong>Everything You\nMust Know About NRI Home Loans<\/strong><\/a><strong><\/strong><\/p>\n\n\n\n<p>9) <strong>Home\nOverdraft<\/strong><\/p>\n\n\n\n<p>Home Overdraft is a special offering only\nfor salaried customers having salary account or savings account with ICICI Bank\nor are salaried with selected corporate, wherein you can avail a home loan or\nmortgage loan or top-up loan or balance transfer with top-up loan in the form\nof an overdraft. The interest will be charged only on the utilized amount. The\nflexibility to withdraw and use funds whenever required is the USP of this\nproduct however the amount so withdrawn as overdraft cannot be utilized for\nspeculative and restricted purposes. <\/p>\n\n\n\n<p>The loan amount that can be drawn under\nthis product is Rs.5lakhs-Rs.1crore. The overdraft offered with this product is\nrenewable annually and will attract applicable renewal charges, which will be\ndebited to the overdraft account.<\/p>\n\n\n\n<p>10) <strong>24\nHours Top-Up Loan<\/strong><\/p>\n\n\n\n<p>A 24 hours top-up loan is a pre-approved\ntop-up loan available for the customers with a good repayment record. It is a\nhassle free loan with minimum documents required. The loan is disbursed in just\n24 hours.<\/p>\n\n\n\n<table class=\"wp-block-table\"><tbody><tr><td>\n  Eligible\n  Profile\n  <\/td><td>\n  Both\n  salaried &amp; self-employed.\n  <\/td><\/tr><tr><td>\n  Maximum\n  Loan Amount\n  <\/td><td>\n  Upto-\n  Rs.1 crore.\n  <\/td><\/tr><tr><td>\n  Tenure \n  <\/td><td>\n  Upto\n  10years.\n  <\/td><\/tr><tr><td>\n  Interest\n  Rates\n  <\/td><td>\n  7.10% &#8211;\n  7.50%\n  <\/td><\/tr><\/tbody><\/table>\n\n\n\n<p>11) <strong>Pratham\nHome Loan<\/strong><\/p>\n\n\n\n<p>Pratham home loan is an affordable home\nloan product for the customers with low income earnings. Cash income is not\nconsidered under this product. Both salaried and self-employed customers can\napply for this product. Pratham home loan can be availed for home loan, home\nimprovement loan and home loan balance transfers. <\/p>\n\n\n\n<p><strong>Eligibility Criteria For Pratham Home Loan<\/strong><\/p>\n\n\n\n<table class=\"wp-block-table\"><tbody><tr><td>\n  Eligible\n  Profile\n  <\/td><td>\n  Both\n  salaried &amp; self-employed.\n  <\/td><\/tr><tr><td>\n  Age \n  <\/td><td>\n  Minimum: 21 Years\n  Maximum: 70 Years\n  <\/td><\/tr><tr><td>\n  Loan\n  Amount\n  <\/td><td>\n  Minimum\n  &#8211; Rs.5 lakhs.\n  Maximum\n  &#8211; Rs.50 lakhs\n  <\/td><\/tr><tr><td>\n  Tenure \n  <\/td><td>\n  Upto\n  20years.\n  <\/td><\/tr><tr><td>\n  Work\n  Experience\n  <\/td><td>\n  Salaried\n  &#8211; 1 year (6 months experience in current organization).\n  self\n  -employed &#8211; business vintage of 5 years (3 years in same business).\n  <\/td><\/tr><tr><td>\n  Income\n  Per Month\n  <\/td><td>\n  Minimum\n  Rs.10,000\/-\n  <\/td><\/tr><tr><td>\n  LTV\n  <\/td><td>\n  For\n  salaried &#8211; as per RBI guidelines.\n  For\n  self-employed &#8211; maximum 65%.\n  <\/td><\/tr><tr><td>\n  Processing\n  Fees \n  <\/td><td>\n  2% of\n  the loan amount + applicable GST.\n  <\/td><\/tr><\/tbody><\/table>\n\n\n\n<p>12) <strong>Banking Product<\/strong><\/p>\n\n\n\n<p>The\nproduct is especially designed for self-employed borrowers. The borrower is not\nrequired to submit any ITRs or financials and the income eligibility assessment\nis based only on their bank statements. For higher income eligibility the\nborrower can also provide his multiple accounts for eligibility calculation and\nthere is no cap on the number of accounts which can be considered.<\/p>\n\n\n\n<table class=\"wp-block-table\"><tbody><tr><td>\n  Eligible\n  Product\n  <\/td><td>\n  Home\n  loan, home loan balance transfer &amp; top-up.\n  <\/td><\/tr><tr><td>\n  Loan\n  Amount\n  <\/td><td>\n  Minimum\n  &#8211; Rs.10 lakhs.\n  Maximum\n  &#8211; Rs.3 crores.\n  Loan Amounts for Professionals (CA, DR, CS,\n  and Architect) basis savings account only &#8211; Rs.50 lakhs. \n  <\/td><\/tr><tr><td>\n  Maximum\n  Loan Tenure \n  <\/td><td>\n  15\n  years.\n  <\/td><\/tr><tr><td>\n  LTV\n  <\/td><td>\n  70%\n  <\/td><\/tr><tr><td>\n  Accounts\n  Credit\n  <\/td><td>\n  Current Account- Minimum 3 business credits\n  in main account and 1 in other accounts.\n  Savings Account \u2013 Minimum 3 transactions per\n  month.\n  <\/td><\/tr><\/tbody><\/table>\n\n\n\n<p><strong>The ADB-EMI Ratio<\/strong><\/p>\n\n\n\n<p>ADB\nstands for average daily balance. On the basis of your banking transactions,\nthe bank determines your eligibility by using the ADB-EMI formula. For\ndetermining ADB, your total balance in the banking account is considered for\nall the subsequent dates of 1st, 11th and 21st for 36 months. The ADB figure so\nderived is then used to determine the eligible EMI.<\/p>\n\n\n\n<p>Eligible\nEMI = ADB\/ ADB-EMI Ratio.<\/p>\n\n\n\n<p>The\napplicable ADB ratio depends on the ADB range. Mentioned below is the grid of\nADB range and its applicable ratio along with the maximum loan amount as per\nthe ADB range.<\/p>\n\n\n\n<table class=\"wp-block-table\"><tbody><tr><td>\n  <strong>ADB Range (10 years) <\/strong>\n  <\/td><td>\n  <strong>Applicable Ratio<\/strong>\n  <\/td><td>\n  <strong>Maximum Loan Amount <\/strong>\n  <\/td><\/tr><tr><td>\n  &lt;=107603\n  <\/td><td>\n  2\n  <\/td><td>\n  Upto Rs.25 lakhs.\n  <\/td><\/tr><tr><td>\n  &gt;107603 and=&lt;286942\n  <\/td><td>\n  3\n  <\/td><td>\n  &gt; Rs 25 Lakhs and upto Rs 50 Lakhs\n  <\/td><\/tr><tr><td>\n  &gt;286942\n  <\/td><td>\n  4\n  <\/td><td>\n  &gt; Rs 50 Lakhs and upto Rs 3 Cr\n  <\/td><\/tr><\/tbody><\/table>\n\n\n\n<p>Learn in\ndetail about the banking product, read more on <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/banking-surrogate-product-of-icici-bank\/\"><strong>Banking\nSurrogate Product Of ICICI Bank<\/strong><\/a><strong>.<\/strong><\/p>\n\n\n\n<p>13) <strong>Gross Turnover Product (GTP)<\/strong> <\/p>\n\n\n\n<p>The GTP\nproduct is also especially designed for self-employed borrowers to calculate\ntheir eligibility on the basis of their gross profit (lower of actual or\nimputed) and therefore a higher loan amount of 3.3 times the normal eligibility\ncan be funded under this product.\nThe imputed margins to be taken for calculations are defined as per the\nbusiness category. All manufacturers, services and traders are eligible for\nfunding under GTP.<\/p>\n\n\n\n<table class=\"wp-block-table\"><tbody><tr><td>\n  Eligible\n  Product\n  <\/td><td>\n  Home\n  loan, home loan balance transfer &amp; top-up.\n  <\/td><\/tr><tr><td>\n  Loan\n  Amount\n  <\/td><td>\n  Minimum\n  &#8211; Rs.10 lakhs.\n  Maximum\n  &#8211; Rs.3 crores.\n  <\/td><\/tr><tr><td>\n  Maximum\n  Loan Tenure \n  <\/td><td>\n  15\n  years.\n  <\/td><\/tr><tr><td>\n  Imputed\n  Margins \n  <\/td><td>\n  For\n  manufacturer and services 10%.\n  For\n  trader &#8211; 7%.\n  <\/td><\/tr><tr><td>\n  Business\n  Vintage\n  <\/td><td>\n  Minimum 5 years.\n  <\/td><\/tr><\/tbody><\/table>\n\n\n\n<p>14) <strong>Salary Multiplier<\/strong><\/p>\n\n\n\n<p>This\nproduct is specially designed for salaried borrowers availing home loan for the\nfirst time and working for elite corporates as per the bank\u2019s specified list of\ncompanies. The USP of this product is that the other obligations of the\nborrower are not considered for determining the eligibility of the borrower.<\/p>\n\n\n\n<table class=\"wp-block-table\"><tbody><tr><td>\n  Eligible Profile\n  <\/td><td>\n  Only salaried resident Indians working for\n  specified elite list of companies.\n  <\/td><\/tr><tr><td>\n  Maximum Loan Amount\n  <\/td><td>\n  Rs.1.5 crores.\n  <\/td><\/tr><tr><td>\n  Minimum Salary\n  <\/td><td>\n  Net Salary excluding overtime allowances,\n  variable components.\n  &gt;=\n  Rs 50,000 pm for MMR and NCR.&gt;=Rs\n  40,000 for other locations.\n  \n  <\/td><\/tr><tr><td>\n  Net salary multiplier for loan eligibility\n  <\/td><td>\n  58% of Net Salary\n  <\/td><\/tr><tr><td>\n  Documents waived\n  <\/td><td>\n  Form 16.\n  <\/td><\/tr><\/tbody><\/table>\n\n\n\n<p>15) <strong>SURF<\/strong><\/p>\n\n\n\n<p>SURF\nproduct is specially designed for the borrowers who are in the initial stage of\ntheir career and are expected to have a higher and consistent salary growth in\ntheir near future. SURF is a structured repayment facility. It is designed on\nthe basis that the repayment capacity of the borrower will gradually increase\nover the time. The loan eligibility in this product is therefore 18% higher\nthan the normal eligibility. <\/p>\n\n\n\n<table class=\"wp-block-table\"><tbody><tr><td>\n  Eligible Profile\n  <\/td><td>\n  Salaried- Employees of Elite, Super Prime\n  and Preferred List of companies.\n  <\/td><\/tr><tr><td>\n  Minimum Qualification\n  <\/td><td>\n  Professionally qualified\/Post graduate.\n  <\/td><\/tr><tr><td>\n  Minimum Salary\n  <\/td><td>\n  Rs.20,000\/- per month.\n  <\/td><\/tr><tr><td>\n  Income Growth For Eligibility\n  <\/td><td>\n  Elite &#8211; 7%\n  Super prime &#8211; 6%\n  Preferred &#8211; 5%.\n  <\/td><\/tr><tr><td>\n  Maximum Tenure\n  <\/td><td>\n  20 years (including under-construction\n  period).\n  <\/td><\/tr><tr><td>\n  Outflow \n  <\/td><td>\n  Primary term: Only interest on the disbursed\n  loan amount\n  Secondary term: EMI on the balance term\n  <\/td><\/tr><\/tbody><\/table>\n\n\n\n<table class=\"wp-block-table\"><tbody><tr><td>\n  Particulars \n  <\/td><td>\n  Primary Terms\n  <\/td><td>\n  Secondary Terms\n  <\/td><\/tr><tr><td>\n  Under Construction APF Project.\n  <\/td><td>\n  3-5 years as per completion period.\n  <\/td><td>\n  Balance tenure.\n  <\/td><\/tr><tr><td>\n  Completed Properties \n  <\/td><td>\n  Maximum 3 years.\n  <\/td><td>\n  Balance tenure.\n  <\/td><\/tr><tr><td>\n  Outflow \n  <\/td><td>\n  Only interest.\n  <\/td><td>\n  EMI on principal amount.\n  <\/td><\/tr><tr><td>\n  Re-schedulement Of Loan\n  <\/td><td>\n  Not allowed.\n  <\/td><td>\n  Allowed. \n  <\/td><\/tr><tr><td>\n  Top-Up Loan\n  <\/td><td>\n  Not allowed.\n  <\/td><td>\n  Allowed. \n  <\/td><\/tr><\/tbody><\/table>\n\n\n\n<p>16) <strong>Flexible Loan Installment Plan (FLIP)<\/strong><\/p>\n\n\n\n<p>This\nnew variant of ICICI bank is specially designed to provide higher loan tenure\nto the borrower especially in cases where one or more loan applicants, whose\nincome is considered for eligibility is retiring early. FLIP is a special\nrepayment facility wherein the EMI in the initial period of loan is higher than\nthe later period and the EMI alongwith the loan amount is calculated separately\nfor all the loan applicants. The eligible co-applicant in the loan can be\nfather, mother, spouse or son. The loan borrower can either apply for floating\nor fixed interest rates. <\/p>\n\n\n\n<p>Speak to our experts on <strong>9321020476<\/strong> or log on to <a href=\"https:\/\/www.loanfasttrack.com\/\"><strong>https:\/\/www.loanfasttrack.com\/<\/strong><\/a>\nfor additional details. You\ncan also email on <a href=\"mailto:info@loanfasttrack.com\"><strong>info@loanfasttrack.com<\/strong><\/a>.<\/p>\n\n\n\n<p>Loanfasttrack is a direct sales associate\nwith ICICI bank. <\/p>\n\n\n\n<p><a href=\"http:\/\/www.loanfasttrack.com\"><strong>Loanfasttrack <\/strong><\/a>is the best online user friendly\nplatform to compare and evaluate the <a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/best-banks-for-housing-loan-in-india\/\"><strong>best bank for home loan in India<\/strong><\/a>.\nLoanfasttrack is a Mumbai based loan provider company since 2015 offering loan services in Mumbai on&#8211; <a href=\"https:\/\/www.loanfasttrack.com\/home-loan\/apply-online-now.html\"><strong>housing\nloan in Mumbai<\/strong><\/a>, <a href=\"https:\/\/www.loanfasttrack.com\/mortgage-loan\/apply-online-now.html\"><strong>mortgage\nloan in Mumbai<\/strong><\/a>, <a href=\"https:\/\/www.loanfasttrack.com\/personal-loan\/apply-online-now.html\"><strong>personal\nloan in Mumbai<\/strong><\/a><a href=\"https:\/\/www.loanfasttrack.com\/personal-loan\/apply-online-now.html\">,<\/a><a href=\"https:\/\/www.loanfasttrack.com\/business-loan\/apply-online-now.html\"> <\/a><a href=\"https:\/\/www.loanfasttrack.com\/business-loan\/apply-online-now.html\"><strong>business\nLoan in mumbai<\/strong><\/a>, <a href=\"https:\/\/www.loanfasttrack.com\/business-loan.html\"><strong>unsecured business loans<\/strong><\/a>,<a href=\"https:\/\/www.loanfasttrack.com\/balance-transfers.html\"><strong>home loan transfe<\/strong><\/a><a href=\"https:\/\/www.loanfasttrack.com\/balance-transfers.html\"><strong>r<\/strong><\/a>, top-up loans, <a href=\"https:\/\/www.loanfasttrack.com\/car-loan.html\"><strong>car loans<\/strong><\/a><a href=\"https:\/\/www.loanfasttrack.com\/car-loan.html\">,<\/a> educational loans and <a href=\"https:\/\/www.loanfasttrack.com\/balance-transfers.html\"><strong>loan transfers<\/strong><\/a>. <\/p>\n\n\n\n<p>It also helps you:<\/p>\n\n\n\n<p>\u221a To find the<a href=\"https:\/\/www.loanfasttrack.com\/home-loan.html\"> <\/a><a href=\"https:\/\/www.loanfasttrack.com\/home-loan.html\"><strong>best bank for home loan<\/strong><\/a><strong><\/strong><\/p>\n\n\n\n<p>\u221a To get lowest<a href=\"https:\/\/www.loanfasttrack.com\/home-loan\/apply-online-now.html\"> <\/a><a href=\"https:\/\/www.loanfasttrack.com\/home-loan\/apply-online-now.html\"><strong>home loan\nrates in Mumbai<\/strong><\/a><strong><\/strong><\/p>\n\n\n\n<p>\u221a To get an<a href=\"https:\/\/www.loanfasttrack.com\/personal-loan\/apply-online-now.html\"> <\/a><a href=\"https:\/\/www.loanfasttrack.com\/personal-loan\/apply-online-now.html\"><strong>instant\nloan in Mumbai<\/strong><\/a><strong><\/strong><\/p>\n\n\n\n<p>\u221a To get instant <a href=\"https:\/\/www.loanfasttrack.com\/personal-loan\/apply-online-now.html\"><strong>personal loan in Mumbai<\/strong><\/a> &amp;<a href=\"https:\/\/www.loanfasttrack.com\/business-loan\/apply-online-now.html\"> <\/a><a href=\"https:\/\/www.loanfasttrack.com\/business-loan\/apply-online-now.html\"><strong>business\nloan in Mumbai<\/strong><\/a><strong><\/strong><\/p>\n\n\n\n<p>\u221a To make you\nqualify for the maximum<a href=\"https:\/\/www.loanfasttrack.com\/loan-against-property.html\"> <\/a><a href=\"https:\/\/www.loanfasttrack.com\/loan-against-property.html\"><strong>loan\nagainst property eligibility<\/strong><\/a><strong><\/strong><\/p>\n\n\n\n<p>\u221a To get a low\ncost<a href=\"https:\/\/www.loanfasttrack.com\/balance-transfers.html\"> <\/a><a href=\"https:\/\/www.loanfasttrack.com\/balance-transfers.html\"><strong>home loan\nbalance transfer<\/strong><\/a><strong><\/strong><\/p>\n\n\n\n<p>\u221a To get assured\nlow interest rates for<a href=\"https:\/\/www.loanfasttrack.com\/mortgage-loan\/apply-online-now.html\"> <\/a><a href=\"https:\/\/www.loanfasttrack.com\/mortgage-loan\/apply-online-now.html\"><strong>loan\nagainst property in Mumbai<\/strong><\/a><\/p>\n\n\n\n<p>Additional\nRead:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/everything-you-must-know-before-applying-for-a-housing-loan\/\"><strong>Everything You Must Know Before Applying For A\nHousing Loan<\/strong><\/a><strong><\/strong><\/li><li><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/how-to-read-home-loan-sanction-letter-of-bank\/\"><strong>Know How To Deal With The Increasing Interest Rates\nOf Housing Loans<\/strong><\/a><strong><\/strong><\/li><li><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/housing-loan-benefits-for-women-borrower-in-india\/\"><strong>Housing Loan Benefits For Women Borrower In India<\/strong><\/a><strong><\/strong><\/li><li><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/know-how-your-home-loan-inquiry-impacts-your-cibil-scores\/\"><strong>Know How Your\nHome Loan Inquiry Impacts Your CIBIL Scores<\/strong><\/a><strong><\/strong><\/li><li><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/mportant-loan-facts\/\"><strong>Purchasing An Under-Construction Property? Here Are\nThe Important Loan Facts You Must Know Before Making A Purchase<\/strong><\/a><strong><\/strong><\/li><li><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/difference-in-applying-home-loan-with-public-bank-private-bank\/\"><strong>Difference In Applying Home Loan With Public Bank\n&amp; Private Bank<\/strong><\/a><strong><\/strong><\/li><li><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/home-loan-interest-rates%ea%98%a1compare-rates-of-top-banks\/\"><strong>Home Loan\nInterest Rates<\/strong><strong>\ua621<\/strong><strong>Compare Rates Of Top Banks<\/strong><\/a><strong><\/strong><\/li><li><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/why-home-loan-interest-rates-of-nbfcs-higher-than-banks\/\"><strong>Why Home Loan\nInterest Rates Of NBFCs Higher Than Banks<\/strong><\/a><strong><\/strong><\/li><li><a href=\"https:\/\/www.loanfasttrack.com\/blog\/blog\/finance\/the-slow-down-home-loan-industry-is-now-reviving\/\"><strong>The Slow Down\nHome Loan Industry Is Now Reviving<\/strong><\/a><strong><\/strong><\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>ICICI bank is one of the largest home loan providers in India which provides home loans to purchase, repair, renovate or redecorate and construct your home with ICICI\u2019s range of home loan products. The bank offers you with a variety of home loan schemes at low processing fees and attractive interest rates with extended loan &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33],"tags":[11,41],"class_list":["post-359","post","type-post","status-publish","format-standard","hentry","category-finance","tag-home-loan-in-mumbai","tag-icici-home-loan"],"_links":{"self":[{"href":"https:\/\/www.loanfasttrack.com\/blog\/wp-json\/wp\/v2\/posts\/359","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.loanfasttrack.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.loanfasttrack.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.loanfasttrack.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.loanfasttrack.com\/blog\/wp-json\/wp\/v2\/comments?post=359"}],"version-history":[{"count":2,"href":"https:\/\/www.loanfasttrack.com\/blog\/wp-json\/wp\/v2\/posts\/359\/revisions"}],"predecessor-version":[{"id":364,"href":"https:\/\/www.loanfasttrack.com\/blog\/wp-json\/wp\/v2\/posts\/359\/revisions\/364"}],"wp:attachment":[{"href":"https:\/\/www.loanfasttrack.com\/blog\/wp-json\/wp\/v2\/media?parent=359"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.loanfasttrack.com\/blog\/wp-json\/wp\/v2\/categories?post=359"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.loanfasttrack.com\/blog\/wp-json\/wp\/v2\/tags?post=359"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}