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
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
| 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
|
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.
