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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

Slab Floating interest rate Fixed interest rate
Up to Rs.50 lakh 10.30% 11.95%
Rs.50 lakh to Rs. 1 crore 10.25% 11.95%
More than 1 crore 10.20% 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 lakh 9.85%

 

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

salaried Self-employed Self-employed professionals
Application form with a signed photo Application form with a signed photo Application form with a signed photo
Identity, place of residence and proof of age Identity, place of residence and proof of age Identity, place of residence and proof of age

 

Revision of processing costs Revision of processing costs Revision of processing costs

 

Copy of property titles to the property Proof of office address Proof of office address

 

Savings account statement for the last 6 months Copy of the property lien of the property lien Copy of the property title of the property lien

 

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

 

Stability control / commercial existence Stability control / commercial existence

 

Form 16 / Declaration of income Commercial profile Commercial profile

 

 Processing Fee and Charges

Loan processing fees/renewal fees 1.00% of the loan amount

 

prepayment charge 4% on the principal outstanding *

 

Prepaid fees NIL
CIBIL report fees Rs.50 + applicable taxes

 

Administration fees Rs.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 fees Rs 500

 

Document recovery costs Rs 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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