ICICI Bank Home Loan Review – Forbes Advisor India | Techno Glob

Amount given as loan by ICICI Bank: Up to INR 7 Crores and a minimum of INR 15 Lakhs (minimum and maximum amounts will depend on various factors).

Time period: Maximum 30 years (it will depend on the person’s age).

Suspension period: 6 months

Advance payment or storage fees Prepayment for home loan with interest is no interest.

Exchange Rates for Home Loans: Exchange charges of INR 1000+ GST ​​will be charged if prepayment charges are not applicable on the loan.

Prepayment for Single Home Loans with Interest Rate: 2% + GST ​​on full repayment of home loan.

Full Advance Payment of Recharge: + GST ​​applicable on full repayment of home loan if final use is for business purpose + GST.

Approval process

The home loan approval process is slightly different and takes some time. Once the application is accepted, the bank sends their people to analyze the assets and then submit a report to the bank. Based on the report, the bank concludes that whether or not the bank can give a loan, how much it can give and at what rate.

This process is time-consuming and may take weeks or even months. The process may be faster in metros and may vary across the country.

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