ICICI Bank Home Loan - Features, Benefits & Documents

ICICI Bank Home Loan

ICICI Bank Home Loan

ICICI Bank helps you own a house by offering several home loan schemes. ICICI bank understands how critical it is to choose the right home and how important it is to you and your family when looking for a home.

You have to view all your options, keeping in mind the factors that are important to you and starting your search using reliable sources. ICICI Bank can help you with both new constructions as well as resale property.

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Features and benefits of ICICI Bank home loan

  • Prepayment, foreclosure charges are NIL for floating-rate loans.
  • Track your loan application status online with the Trackmyloan Application feature on the official website of ICICI Bank.
  • Quick and transparent processing.
  • Special benefits for premium banking customers.
  • Repay your home loan in smaller EMIs initially and step up eventually over a tenure of 30 years subject to conditions.
  • Avail attractive interest rates for different categories.
  • Choose the right home loan scheme based on your requirements.
  • Transfer the home loan from another bank to ICICI Bank and pay reduced EMI.

Who is eligible for ICICI Bank home loans

  • Any person in the age group of 21 to 60 years (salaried applicants) and 21 to 65 years (self-employed applicants) can apply for the home loan.
  • Existing and new bank customers.
  • Resident Indians.

Documents Required for ICICI Bank Home Loan

Here are the mandatory documents that should be submitted by all applicants to apply for ICICI home loan.

  • You should submit a complete home loan application with the recent photographs attached.
  • You need to provide proof of Identity which can be your passport, visa, voter ID, Aadhar card, pan card, or a driving licence.
  • You also need to provide a proof of residence, which can be your Aadhar card, voter ID for a driving licence, or a registered rent agreement.

ICICI Home Loan Documents Required for Salaried Individuals.

  • Salaried individuals must provide these documents if they want the home loan to be sanctioned.
  • Salaried individuals must provide the salary slips of the last 3 months to prove that they have been drawing a salary from the mentioned employer.
  • They must also submit their IT returns and the latest Form-16.
  • They must also provide their bank account statements for the last 6 months.

ICICI Home Loan Documents Required for Self-employed Individuals.

  • Self-employed individuals must submit the following documents if they want their home loan application to be approved by ICICI bank.
  • Self-employed individuals have to submit their IT returns and the latest Form-16.
  • They also have to submit their bank statement for the last six months.
  • They must also submit their P&L account and balance sheet certified by a CA.

ICICI Home Loan Documents Required for Non-resident Indians.

  • Indians living abroad can also apply for a home loan at the ICICI bank but they must provide the following documents.
  • Non-resident Indians must provide a photo-copy of their passport and Visa. Both passport and visa must remain valid at the time of application.
  • They must also possess the power of attorney.
  • They must also provide the bank account statements to show that their bank accounts are currently active and salary being credited to the account.
  • Non-resident Indians (if salaried) also need to provide the appointment letter and salary slips for the last six months.

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