ICICI Home Loan Rates

When you are exploring the market for a suitable home loan, you will definitely think about the interest rate associated with it. Interest rate is one of the most important factors to be taken into consideration when you are thinking about a home loan since it decides how costly your loan will be. ICICI home loan rates are one of the most competitive rates that you will find while exploring the home loan market. ICICI Bank also offers insurance

policies to protect your home. “HomeAssure/HealthAssure” & “HomeSafePlus” are the two innovative insurance policies launched by ICICI Bank.

About ICICI Bank Home Loan rates

ICICI Bank Ltd home loan rates are one of the most attractive rates in the market. Given below are some important information that will help you get some idea about these rates.

Base rate of ICICI Bank

ICICI Bank has announced an increase of 0.25% in the ICICI Bank Base Rate (‘I-Base’) with effect from October 6, 2010. The revised rate will be 7.75% pa.

If you have made a decision to go for an ICICI Bank home loan, then you should also have knowledge about the registration fees, total cost, stamp duty fees and transfer charges since these costs are incorporated into the loan cost.

Disbursement documents necessary for ICICI Bank home loan

Given below is a list of documents you need to furnish at the time of the disbursement of the loan amount:

Disbursement Documents

• Property deeds (according to P&D for particular states and as solicited by paneled lawyers for particular circumstances).
• Facility agreement
• Disbursement application form
• Cheque Submission Form - for Pre EMI and EMI cheques.
• Auto Debit or ECS for ICICI Bank account holders or Post Dated Cheques (PDCs) for Pre EMI/EMI.
• Individual Guarantor's Documents (Photograph, Personal Guarantor Form, Residential Proof, Identity Proof, Income Proof and Signature Verification, if applicable).

If a company is the owner of the property

• Form 8
• Memorandum of Entry
• No Objection Certificate

Schedule of Charges of ICICI Bank Ltd home loans

The table given below will give you a clear idea about the various charges associated with ICICI Bank home loans:

Charges	Amounts
Loan Processing Charges / Renewal Charges	0.5% of the loan amount or Rs. 1500/- (Rs. 2000/- for Delhi, Mumbai & Bangalore), whichever is higher along with applicable Service Tax and Surcharge
Charges for delayed payment	Home Loans : 2% per month Home OD : 1.5% of the amount due conditional on a minimum of Rs. 500/- and maximum of Rs.5000/-
Prepayment Charges	NIL - 2% along with applicable Service Tax and Surcharge on total prepaid amount
Charges for switching from floating to fixed rates of interest	1.75% on principal amount due
Charges for switching from fixed to floating rates of interest	1.75% on principal amount due
Document Recovery Charges	Rs. 500/-
Cheque Swap Charges	Rs. 500/-
Cheque bounce charges	Rs. 200/-
Statement of Account	Rs.100 per statement (includes Service Tax)
Amortisation Schedule	Rs.100 per schedule (Includes Service Tax)
Foreclosure Statement	Rs.100 per statement (Includes Service Tax)
Revalidation of No Objection Certificate	Rs.100 per NOC (Includes Service Tax)
No Due Certificate/Duplicate No Objection Certificate	Rs.100 (Includes Service Tax)
Final Income Tax Certificate	Nil
Interim Income Tax Certificate	Nil
Interest Certificate	Nil
Copy of Agreement	Nil
Alteration of Address	Nil
No Due Certificate/No Objection Certificate	Nil