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MEET YOUR PERSONAL AND PROFESSIONAL NEEDS WITH ICICI PROPERTY LOAN

ICICI - Loan against property - (A)

Use the ICICI real estate bank loan (LAP) for your professional or personal needs. You can mortgage residential and commercial properties and take advantage of comfortable electromagnetic interference for a longer stay of up to 15 years.

Features:

Finance your business needs

Loans up to Rs 5 crores

EMI loans with a maximum duration of 15 years

Transfer your existing loan on advantageous terms

INTEREST RATE:

The interest rate for employees and the self-employed

SlabFloating interest rateFixed interest rate
Up to Rs.50 lakh10.30%11.95%
Rs.50 lakh to Rs. 1 crore10.25%11.95%
More than 1 crore10.20%11.95%

Note: The ICICI Bank LAP interest rate is updated on the bank’s website. The figures in the table are guidelines and are subject to change at the discretion of the bank or RBI without notice.

The interest rate for employees of the ICICI / Infosys group

 

Slab

 

The interest rate of the floating slab

 

Up to Rs.50 lakh9.85%

 

Rs.50 lakh to Rs.1 crore

 

9.85%
More than one crore

 

9.85%

Note: The ICICI Bank LAP interest rate is updated on the bank’s website. The figures in the table are guidelines and are subject to change at the discretion of the bank or RBI without notice.

ELIGIBILITY CRITERIA:

Eligibility for an ICICI real estate bank loan is assessed based on the client’s finances and the value of the collateral. The other important conditions for applying for the loan are:

ICICI bank loans based on the eligibility criteria for real estate

Eligible profile: employees and self-employed

Age limit: 25 to 65 or retirement age, whichever is earlier

INTEREST RATES

salariedSelf-employedSelf-employed professionals
Application form with a signed photoApplication form with a signed photoApplication form with a signed photo
Identity, place of residence and proof of ageIdentity, place of residence and proof of ageIdentity, place of residence and proof of age

 

Revision of processing costsRevision of processing costsRevision of processing costs

 

Copy of property titles to the propertyProof of office addressProof of office address

 

Savings account statement for the last 6 monthsCopy of the property lien of the property lienCopy of the property title of the property lien

 

Proof of salary for the last 3 monthsStability control / commercial existence Stability control / commercial existence

 

Stability control / commercial existence Stability control / commercial existence

 

Form 16 / Declaration of incomeCommercial profileCommercial profile

 

 Processing Fee and Charges

Loan processing fees/renewal fees1.00% of the loan amount

 

prepayment charge4% on the principal outstanding *

 

Prepaid feesNIL
CIBIL report feesRs.50 + applicable taxes

 

Administration feesRs.5000 or 0.25% (whichever is less)

 

Conversion of costs Floating by floating: 0.5% of the capital remaining due

 

Double fixed rate with a variable rate: 0.5% of the principal owed

 

Variable interest fixed at twice: 0.5% of the principal remaining due

 

Fixed-term: 1.75% of the capital due

 

 

Modification of reimbursement mode feesRs 500

 

Document recovery costsRs 500

 

LOAN AGAINST PROPERTY EMI CHECKER

An EMI calculator is an online tool that you can use to calculate your monthly payments to pay off your home loan. Paisabazaar.com provides the EMI home loan calculator for free. It is easy to use for everyone. While manual calculation takes some time, the online EMI calculator provides immediate results.

Here are the steps to use the Mudra Home EMI loan calculator:

Visit the Mudra Home EMI loan calculator page

Enter the following information:

Loan amount: the principal amount you wish to request

Interest rate: The interest rate offered by ICICI Bank for the desired amount

Duration of the loan: period over which you wish to pay the amount borrowed

If you enter the details above, the calculator will display the result.

ADDITIONAL READING – LOAN AGAINST PROPERTY: ALL YOU NEED TO KNOW

CHECK OUR MAXIMUM ELIGIBILITY FOR LOAN AGAINST PROPERTY

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