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About ICICI Home Loans

Are you ready to step into your dream home? With ICICI Bank Home Loans, aspirations of owning a home are within easy reach. Their competitive interest rates, starting at just 8.75%* p.a. (exclusive to customers with Pre-approved Home Loan Offers), make owning a home more affordable than ever.


Types of ICICI Home Loans

ICICI helps you secure the perfect loan amount to start your homeownership journey confidently. ICICI Home loans aren't limited to buying property; they cover construction, renovation, or extension.

Some of the home loans offered by ICICI Bank:

Express Home Loans

Instant loans for purchasing, constructing, renovating, or extending residential properties.

NRI Home Loans

Low-interest rate financing options for NRIs with special processing fees.

Money Saver Home Loans

Special Loans with reduced interest rates.

Step Up Home Loan

Specifically tailored for first-time loans.

Land Loans

Financing for purchasing residential plots, whether new or resale, to facilitate future construction of homes.

Balance Transfer Loans

Transfer existing home loans to ICICI Bank for better interest rates, repayment terms, or enhanced services.

ICICI Home Loan Interest Rates

Interest Rate* 8.75% onwards
Loan Amount Depends on the applicant’s credit score
Loan Tenure Up to 30 years, depending on the type of loan
Processing Fees 0.5 – 1% of the loan amount + applicable taxes

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Note: The interest rates shown here are as of Feb 2024. The above rates are subject to change at the bank’s discretion in accordance with RBI guidelines. Applicants are advised to check with the bank to determine the interest rate for their loans at the time of application.

Eligibility for ICICI Bank Home Loans

The applicant must meet following criteria to be eligible for ICICI bank home loans

Eligibility Criteria ICICI Home Loans
Age Minimum: 21 years, Maximum: 70 years
Minimum work experience for salaried 2 Years
Minimum income required ₹25000 per month
Processing Fees 0.50% - 1.00% of the loan amount
Maximum loan amount Up to ₹10 crore
Tenure Maximum up to 30 years
Interest rates 9.00% onwards
Maximum EMI as percent of income Up to 65%

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Assessing Eligibility for ICICI Bank Home Loans

Several factors are evaluated when considering a home loan application with ICICI Bank, ensuring a thorough assessment to determine eligibility. Let's break it down in simpler terms:

Age for ICICI Bank Home Loans

  • Your age plays a crucial role in home loan approval. ICICI Bank has specific age criteria – applicants must be at least 21 to qualify. Additionally, the maximum age at the time of loan termination or retirement should not exceed 70 years.
  • If you are asking why, the answer is simple. A younger applicant typically has a longer tenure to repay the loan, increasing their chances of approval. ICICI Bank offers a maximum repayment period of 30 years.

Income for ICICI Bank Home Loans

  • Your net monthly income is the foundation of the evaluation process. This is the amount you retain after deductions like PF, ESI, taxes, and other obligatory expenses. The higher your net monthly income, the more you're likely to qualify for in terms of loan amount.
  • If you wish to boost your eligibility, add a co-applicant – it increases the combined net monthly salary that the bank considers, potentially expanding the limits of your loan amount.

Property Value Parameters for ICICI Bank Home Loans

  • ICICI Bank employs loan-to-value (LTV) ratios rather than disbursing loans equal to the total property value. These ratios are contingent upon the assessed value of the property in question. For properties valued below INR 30 Lacs, ICICI Bank extends loans at up to 90% LTV. For properties valued between INR 30 Lacs and INR 70 Lacs, the LTV stands at 80%. Properties exceeding INR 80 Lacs in value warrant a loan at 75% LTV.

CIBIL Score for ICICI Bank Home Loans

  • Your CIBIL score is a testament to your creditworthiness. In India, the CIBIL score is the sum of the applicant's credit history and past financial conduct, which is very important to maintain an optimal score.
  • A high score increases your chances of loan approval, while a low one may hinder the process.

FOIR Focus for ICICI Bank Home Loans

  • FOIR, or Fixed Obligation to Income Ratio, is another critical factor for ICICI Bank's home loan eligibility. This ratio compares your fixed financial commitments vis-à-vis monthly income, including current EMIs, if any.
  • ICICI Bank stipulates a minimum FOIR of 0.65 as a prerequisite for home loan eligibility.
  • Age, income, property value, CIBIL score, and FOIR collectively qualify your ICICI Bank home loan eligibility.
  • The right balance ensures a smooth and successful loan approval process.

ICICI Home Loan Applications - Simplified

Applying for an ICICI Bank Home Loan is a straightforward and streamlined process designed to simplify your journey to homeownership.

Here's a concise guide on how to apply, along with the necessary documents:

Check Your Eligibility For ICICI Bank Home Loan

  • Assess factors such as age, income, credit history, FOIR, and dependents to gauge eligibility.
  • Ensure you meet ICICI Bank's eligibility criteria before proceeding.


Apply Online

Apply online for a loan


Download Application

Download and fill out the Application form accurately


Keep Documents Ready

Gather all essential documents, including identification proof


Start Verification Process

The Save Max team will help you with verification & ensure all requirements are met

Document Checklist ICICI Home Loan

Address Proof

  • Registered Rent Agreement
  • Electricity Bills (last three months)
  • Valid Passport

Employment Documentation (for less than 1 year)

  • Appointment letter from employer
  • Form 16(last 2 years)
  • Bank Statements(last 6 months)

Identification Proof

  • Aadhar Card
  • Passport
  • Driving License
  • Voter ID
  • PAN Card

Additional Documents Based on Employment Type For ICICI Home Loan

Salaried Individuals

  • Sale Deed
  • Title Deed
  • Driving License
  • Approved Building Plan
  • Occupancy Documents

Self- Employed Individuals

  • Audited financial statements (last two years)
  • GST Registration
  • Trade License
  • Partnership Deed
  • ROC Registration Certificate

Post - ICICI Bank Loan Closure

  • Arrange for the power of attorney format for collecting original property documents.
  • In the event of the loan account holder's demise, provide a request letter from the legal heir/nominee and a letter of relinquishment if applicable.

Ensure you have all the necessary documents and follow these steps to initiate your ICICI Bank Home Loan effectively.

List of Documents Required to Apply for ICICI Bank Home Loan

Documents Salaried Self-employed Professional Self-employed non Professional
Application form with photograph duly signed
Identity, address and age proof
Bank statements of last 6 months
Salary slips of last 3 months
Processing fee cheque
Form 16/Income Tax Returns
Proof of Business existence
Business profile
Education qualification certificate and Proof of Business existence
Income Tax Returns (ITR) of last 3 years with computation of income
Last 3 years CA certified/audited Balance Sheets and Profit & Loss Statements

Disclaimer : Bank policies and interest rates are subject to fluctuations and may vary over time. For accurate and up-to-date information, we recommend you talk to a member of the Save Max team. The information provided on this page is referenced from the bank's website (


How do you apply for an ICICI Home Loan?
To apply for an ICICI Home Loan through Save Max, connect with our team. We'll guide you through the process, help with forms and documents, and ensure a smooth submission to our banking partner. With Save Max's assistance, getting your ICICI Home Loan becomes streamlined and hassle-free.
What documents are needed for an ICICI Home Loan?
To initiate your ICICI Home Loan application via Save Max, you must furnish documents such as proof of identity, address, income, property-related confirmations, and bank statements.
What is the maximum tenure for an ICICI Home Loan?
The tenure for an ICICI Home Loan can vary but typically extends up to 30 years.
How can you increase the chances of getting a larger ICICI Home Loan?
Higher income, a strong credit score, a co-applicant, lower debts, and a higher-value property can help. However, each bank has its guidelines on this. Typically, banks lend 80 to 85% of the property's value. If EMI amounts restrict your loan size, extending the loan period can potentially increase the loan amount you qualify for.
What is the maximum loan amount that ICICI Home Loans offer?
The amount depends on your eligibility, income, and loan product. The maximum home loan amount available through ICICI Home Loans ranges from 75% to 90% of the property cost. You get funding to acquire your dream home, home improvement, or extension needs.
What are the Tax benefits of ICICI Home Loans?
Yes, you can take advantage of Tax benefits with ICICI Home Loans. Tax deductions may apply on principal (Section 80C) and interest (Section 24(b)) repayments under Indian tax laws. Consult a tax professional for accurate information as applicable to you.
What is an EMI for ICICI Home Loans?
EMI is a fixed monthly installment covering the principal and interest. It's calculated based on the loan amount, tenure, and interest rate. Use the Save Max EMI calculator to help with precise calculations.