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     Housing Loans

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  ICICI
      Loan Structures
 
  • Range from a minimum of Rs. 1 lakh to a maximum of Rs.1 crore.
  • Finance up to a maximum of 85% of the price of the property or the cost of  construction (as applicable). 
      Fees                      : 1.8% of the sanctioned Loan amount.
      Processing fee       :  Rs 500 (at the time of application).
      Administrative fee  :Balance amount (i.e. 1.8% - Rs 500, will be deducted from the 
                                               amount disbursed).
      The repayment due dates are the 1st or the 7th day of every month and your 
     payment would be collected through post dated cheques.
 
      Interest rates
Tenure (years) Interest Rate
1-5 11.25 %
6-20 12.75 %
21-30 12.85 %

       
      For loans with a tenure less than 5 years, the rate of interest is 11.25% irrespective 
      of the loan amount.
 
      You can decide your loan tenure subject to the following two conditions:
  • Maximum tenure is 30 years.
  • The loan term does not extend beyond retirement age 65 years of age,
     Eligibility
       You are eligible for an ICICI Home Loan to construct or purchase a house/flat or 
        extend your existing house if you are:
  • Non-Resident Indian holding a valid Indian passport
  • Over 25 years.
  • A salaried individual
      
       Details about the documents that you are required to submit along with the 
       application form :
 
  • Passport size photograph of all the applicants.
  • Copy of the passport and visa.
  • Copy of work permit (if applicable).
  • Copy of the CDC in case of customers who are employed in the merchant navy.
  • Bank Statements for the last six months-both domestic and international.
  • General Power of Attorney as per our draft duly attested by the Indian consulate in case the NRI is not in India. If the NRI is in India then the POA can be locally notarized.
  • Copy of your appointment letter and contract.
  • Copy of the labour card/identity card (translated in English & countersigned by the consulate) if employed in the Middle East.
  • Salary certificate (in English) specifying name, date of joining, designation and salary details.
 
 
 

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