ICICI Bank Home Loans

ICICI bank has got great attractive schemes for lending home loans to its Indian and NRI customers. Housing finance loans rates differ based on different loan schemes.

There will be no extra charges applicable on the Partial prepayment of house loans from ICICI bank. Whereas , 2% will be payable as Preclosure Charges if the Home loan taken is closed before 1 year of the loan sanctioning.

1. ICICI Home Loan - ICICI Home Loans are issued to borrowers for purchasing or constructing homes.Simple documents and doorstep delivery of the home loan details is a main attraction provided by ICICI bank.
2. ICICI Home Improvement Loan - ICICI Home Improvement Loans are given for improving or maintenance of an existing house.
   
3. ICICI Land Loan - ICICI Land Loans are given for purchasing lands. These type of loans are useful to the borrowers in constructing a house in this land after some time.
   
4. ICICI EMI Under Construction - EMI Under Construction loans are given as partial emi payments. These loans are used for paying EMI's to a home loan that is being used currently for constructing a home.
5. ICICI Balance Transfer Loan -This facility is for transferring home loans from other banks to ICICI bank.
6. ICICI Top-Up Loan - ICICI Top Up Loans are for getting additional loans based on the existing home loan.
7. ICICI Office Premises Loan - This loans is useful for Self employed people or professionals who want to construct their offices.
8. Lease Rental Discounting - Lease Rental Discounting loans are given for requirements like Marriage , Medical Treatment , property purchase .etc. The basic requirement for getting this loan is that the property should be occupied by Lessee.
   

ICICI home loans are available for periods from 1 to 20 years. There are chances to get a loan amount up to 80% of the value of home or property.

Processing Fees for all ICICI home loans will be Rs. 2,000 or 0.5 percentage of loan amount which ever is higher. Amount Funded as finance will be up to 80% of property value.

Interest Rates on Monthly reducing balance scheme will be 8.25 % for home loans taken till March 2011. After this , Fixed rate home loans of interest rate of 9.25 % will be applicable from 2011 April to 2012 March.

Further in April 2012 the floating interest rates on loans of 30 lakhs or more will range from 9% to 9.25%.

There are no Guarantor's required for getting the house loans from ICICI.