Professional Documents
Culture Documents
Mortgages
Learning Agenda
What is a Mortgage Loan? Classification of Mortgage Loans Basic eligibility criteria for our customer Basic eligibility criteria for the security being offered Basic Eligibility Calculation (Salaried) Documentation Loan Approval & Disbursement Process Product Features Our USP FAQs
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Mortgage Loan
Secured Loan Offered for either buying a property or for funding personal requirements by raising funds against self owned and self occupied property. Property is the security for the loan.
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Documentation
Pre Sanction Documents Application Form with photo Bank Statements KYC documents Age Proof Income Documents Processing fee cheque Pre Disbursement / Post Disbursement Documents Property Documents Click the Universe Link: http://10.16.168.211/businessgroups/legal/htmls/ dms_hlap.htm#hl_7
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Product Features
Home Loans NRP Loans LAP
Maximum
Rs. 3 Crores
Rs. 1 Crore
Rs. 3 Crores
Maximum
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20 years
15 years
15 years
Our USP
Door step service Speedy Loan Sanction Simplified Documentation Attractive interest rate options: Floating Rate, Fixed Rate or Part Fixed and Part Floating Rate Loan amount ranging up to Rs. 3 Crores Sanction prior to selection of property No fee on part prepayment Free personal accident insurance cover Guidance throughout the process
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FAQs
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Part Disbursement:
Part Disbursement would mean still part of the loan amount sanctioned or as per the requirement is yet to be disbursed, so only Pre EMI is payable Pre EMI constitutes only interest component
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Is Pre-Payment allowed/chargeable?
Part Prepayment:
Part prepayment is the process of paying additional sum of money. Any amount paid excess of the EMI amount due for the month gets adjusted towards the principal amount O/S. In ICICI bank, no charges are levied for part prepayment at this point of time, subject to leaving 12 EMIs to be paid in the normal course.
Full Prepayment:
Full prepayment would mean paying the entire principal outstanding leading to closure of the account. In ICICI bank, 2% is charged on the outstanding principal amount.
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SWITCH means moving from one contracted ROI to another bringing reduction in EMI or tenure or both.
A customer can SWITCH from fixed-fixed, fixed-floating, floating-fixed, floating-floating & money saver-home loan and vice versa. SWITCH charges are 1.75% on outstanding principal amount plus applicable taxes.
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Auto Loans
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New Cars
Risk
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New Car
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Some Facts
India is emerging as the 2nd fastest auto market in the world New Car is termed as a Car which is directly purchased from An Authorized Car Dealer with ownership serial 1
A New Car will have Invoice Issued by an Authorized Dealer Insurance A car will be termed as a used car, if the invoice date and insurance cover note date is more than 30 days old. Minimum Loan Amount should be 1 Lac Tenor ranges from 12 to 60 months
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We will only fund a value on X show room cost. Discounts are to be deducted from X Show room cost for LTV
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2 Types of Customer
Cost of Car is Rs 100, Finance is Rs 70, Discount is Rs 10
Customer Type 1
Customer Type 2
Will Subvent
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Example
Loan Amount Tenor Bank Rate Subvention No of Advance EMIs Customer EMI Customer Rate #DIV/0! #DIV/0! 0 0 0.00% 0 0
Loan Amount Tenor in months Bank Rate
Discount
No of Advance EMI EMI Customer Rate
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Customer 1
Loan Amount Tenor Bank Rate Subvention No of Advance EMIs Customer EMI Customer Rate 500000 60 10.50% 0 0 10747 10.50%
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Customer 1
Loan A mount Tenor Bank Rate Subvention No of A dvance EMIs Customer EMI Customer Rate 500000 60 10.50% 20000 0 10318 8.75%
Customer Rate and EMI comes down due to Rs 20,000 subvention or discount
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C u s t o m e r s
Partnership Firms
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Special Profiles
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A g e N o r m s
Minimum Age
For employees working with Elite, Super Prime, Preferred companies or employees of organization having salary account with ICICI Bank the minimum age is 23 years For other employees working with other companies minimum age is 25 years. For Self Employed Individuals the minimum age is 28 yeas
Maximum Age
For Salaried the maximum age at the end of the Auto Loan tenor should be 58 years For Salaried individuals the maximum age can be 60 years in case a documented proof of HR is available mentioning the retirement age of 60 years For Self Employed it is 65 years
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Income
I N C O M E
Rental & Interest Income
For Salaried Individuals Cat 1 State : Rs 2 Lac gross annual income Cat 2 State : Rs 2.5 Lac gross annual income For Self Employed Cat 1 State : Rs 1.75 Lacs Business Income Cat 2 State : Rs 2.00 Lacs Business Income
75% of net rental and interest income as per ITR Rental Income should be reflecting in last 2 years ITR Rent Credit should reflect in bank statements FI to confirm rental status of property Rent deed to be documented
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S T A B I L I T Y
Residence
In Case of Rented Residence, Permanent Ownership Proof is mandatory 1 year stability in case of rented residence In case of self employed customers at least one, residence or office should be owned.
Employment Stability
For Salaried, Current employment should be minimum 1 year For Salaried, Total should be minimum of 2 years For Self employed, minimum should be 2 years
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Banking Norms
N o r m s
Fixed Obligation to Income Ratio
Minimum 6 months bank statement for all customers AQB should be greater then 1 time the proposed EMI In case 2 bank accounts are served, clubbing is permissible subject to maximum of 2 accounts Repayment should be from salary account In case of OD/CC limit account average utilization not to exceed 85% of the total limit. For Salaried, maximum FOIR should be 50% Voluntary PF can be added in net salary Clubbing of Income and Obligation of Spouse is allowed provided spouse is co applicant with minimum income of 1.5 lacs
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Residence and Office FI is mandatory and same should not be negative for adverse reasons For employees of Elite, Super prime, Preferred companies, office FI can be waived subject to loan amount less than 10 lacs and mail from official mail id(forming customer name and company name).
N o r m s
FI Waiver For all I Bank active loan track customer satisfying following norms Repayment from same bank account Address is same in track and bank account and to match with KYC and CIBIL On the basis of credit manager/Relationship Manger and Branch Manager visit. Landline/CDMA/WLL/Post paid mobile is mandatory TVR is mandatory for both Residence and Office Two reference checks are mandatory
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Co Applicants
Co Applicants are taken in case eligible norms are not met or credit comfort.
Co Applicant can be Father, Mother, Spouse, Brother, Sister, Father In Law, Mother In Law, Daughter In Law, Son In Law with a relationship proof to be documented If Co Applicant is taken to satisfy age or stability norms then, repayment should be taken from applicant account, and co applicant should meet age or stability norms. In case the co applicant is taken for other than age or stability norms then co applicant should meet all the norms and repayment should be taken from co applicant account.
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Cat 4 Salaried with Elite/ Superprime Company + Annual Income > Rs. 8 Lacs
STATE CLASSIFICATION
State Cat I - Andhra Pradesh, Tamil Nadu, Kerala, Maharashtra State Cat II - Delhi, Rajasthan, Haryana, Karnataka, Gujarat, Madhya Pradesh Chhattisgarh
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Field Investigation
Credit Appraisal
Post Processing
Disbursement
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Personal Loans
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Features
Multi-purpose loan Fixed rate of Interest Flexible tenures up to 48 months No security, no collateral Loan payable in easy instalments Repayment through Auto-debit Can be used for holidays, education, marriage, etc.
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A Salaried person having Salary account with ICICI Bank Working with Elite / Super prime / Preferred company (List of companies to be provided)
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Documentation
Proof of Income
Salary Slips, Form 16, ITR, Audited Financials Proof of Continuity Salary Slips, Form 16, ITR, Audited Financials Residence Proof
Passport, Driving License, Election ID, LIC Policy, Utility Bill Identity Proof
Credit Card
Signature Verification Passport, Photo PAN Card, Credit Card with Printed
Signatures, Banker Verification
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Credit Card
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Plastic Money Has the issuing bank (ICICI Bank/HDFC etc) name / Logo Network name / logo (Visa/Master/Amex) Magnetic strip behind, which can be read by ATM/merchant establishment Can be swiped to make payments/withdraw cash
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Handy Replacement of Cash Wide Acceptance & Safety : ICICI Bank credit cards are accepted at over 5,00,000 merchant establishments powered by Visa/Master/Amex
Credit free period & Revolving Facility Emergency : ICICI Bank Credit cards are accepted widely in most Hospitals & Pharmacies
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Reward Points on Spends* Surcharge waiver of 2.5% at select HPCL pumps Email and Mobile alerts Credit Free Period of up to 48 Days Accepted globally at Shops, Malls, Hospitals, Restaurants, Petrol Pumps, Airlines, Railways
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Salaried individuals with minimum Salary of Rs.20000 pm KYC Fulfillment Customer Latest photo with Application Form Address & Photo ID Proof Eligibility as per Policy Norms
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How to apply?
Online Cards Apply at www.icicibank.com Call ICICI Bank Customer Care Call at the 24 hour call centre and apply
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Rate of Interest
Varies from 2.75% to 3.40% per month on different cards .
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Instant Credit Card is a credit card which is issued against a Fixed Deposit There are two variants of Instant Card Gold Platinum Minimum FD required for Gold Credit Card is Rs. 20,000 & Platinum is Rs. 60,000 Credit limit is 85% of the FD amount*
* T& C Apply
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General Banking
New To Credit
Need for a credit line Need to build a good credit history Value for money attractive APR, best deals Hygiene benefits like fuel surcharge waiver Basic reward program Interest free period No frills card & usage benefits Access to attractive reward program catalogue based or air miles Seamless service & support experience Seeking lifestyle privileges & recognition
Privilege Banking
Convenience Seeker
Wealth
Spend centric
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Important note
This content has been updated till October 31,2010. Please refer latest circulars and guidelines for any changes
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Thank You
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