ICICI bank offers home loans to Indians and NRIs for purchase of new and resale properties as well as plots. The repayment schedule can be stretched up to 25 years. A Free Personal Accident Insurance is also offered with this loan. The loan is available at fixed and floating interest rates and loan transfer option is also available.

ICICI Bank offers home loans for purchase or construction of house and the loan amount can be up to 85% of the cost of the property. The loan must terminate before or when the borrower turns 65 years of age or before retirement, whichever is earlier. ICICI home loans come with the benefits like easy interest rates, simplified documentation, doorstep service and free personal accident insurance.

ICICI Bank offers Home Improvement Loans for renovation/refurbishment of a home. One can avail of loan up to Rs. 50 Lakhs and the interest rate is same as that of the Home Loans. The loan covers up to 70 % of the cost of improvement and the repayment period is 15 years.

Features :-

• Guidance through out the process
• Home loan amounts suited to your needs
• Home Loan tenure upto 20 years
• Simplified Documentation
• Doorstep Service
• Attractive interest rates
• Sanction approval without having selected a property.
• Free Personal Accident Insurance (Terms & Conditions)
• Insurance options for your home loan at attractive premium

Rate of Interest :-

Float Interest Rate	:	9.75 %
Processing Fee	:	0.5% to 1% of loan amount or Rs 2000
Late Payment Charges	:	2% per month
Document Retrieval	:	Rs 500

FAQ's :-

• My rate of interest is linked to FRR. How will it get affected by the rate change?
  The FRR has been reduced by 50 basis points (i.e. 0.50%) with effect from December 31, 2008. FRR has changed from 14.25% to 13.75%. Thus, the rate of interest on will go down by 50 basis points (i.e. 0.5%).
• My rate of interest is linked to PLR. How will it get affected by the rate change?
  The PLR has been reduced by 50 basis points (i.e. 0.5%) with effect from December 31, 2008. PLR has changed from16.25% to 15.75%. Thus, the rate of interest will go down by 50 basis points (i.e. 0.5%).
• My rate of interest is linked to IHPLR. How will it get affected by the rate change?
  The IHPLR has been has been reduced by 50 basis points (i.e. 0.5%) with effect from December 31, 2008. IHPLR has changed from 16.25% to 15.75%. Thus, the rate of interest will go down by 50 basis points (i.e. 0.5%).
• From when are the new rates applicable? Or From when will the rate of interest on my Home loan be changed?
  The new rate of interest will be applicable from December 31, 2008. For disbursements already availed on or before December 31, 2008, the change in the rate of interest will be effective from next reset date i.e. January 01, 2009.
• Why is the reset done from January 01, 2009?
  For all home loans with first disbursals before 4th July 2006 the rate of interest will be reset on a QUARTERLY basis. The reset dates for effecting the rate of interest changes for the above mentioned existing customers would be January 01, April 01, July 01 & October 01. Thus, the change in the rate of interest will be effective from the next reset date i.e. from January 01, 2009.