15:36 © & @ Cg QO wANe) ICICI Bank Home Loan Amount and Term Amount Given as Loan by ICICI Bank: Up to INR7 crore and a minimum of INR 15 lakh (the minimum and maximum amount will depend on various factors). Time Period: Maximum 30 years (this will depend on the age of the person). Moratorium Period: 6 months Prepayment or Foreclosure Charges : Prepayment for home loan with floating rate of interest is nil. Conversion Charges for Home Loan: If Prepayment charges are not applicable in the loan then conversion charges of INR 1000+ GST will be charged. Full Prepayment for Home Loans with Floating Rate of Interest: 2% + GST on principal outstanding on full repayment of home loan. Full Prepayment of Top Up: 2% plus applicable + GST on principal outstanding15:36 © & @ Cg QO wANe) Full Prepayment of Top Up: 2% plus applicable + GST on principal outstanding on full repayment of top up on home loan if the end use is for business purpose. Approval Process Approval process of a home loan is a little different and takes some time. Once an application has been accepted, the bank sends their people to analyze the property and then submit the report to the bank. In accordance with the report the bank concludes whether a loan can be given or not, how much can be given and at what rate. This process takes time and may take weeks or even a month. The process can be quick in metros and differ in different parts of the country. ICICI Bank Home Loan Costs Processing Fees 0.50% — 2.00% of the loan amount or INR 1500 (INR 2000 for Mumbai, Delhi and Bangalore)OQ @ forbes.com/advi: = Forbes apvisor ICICI Bank Home Loan Costs Processing Fees 0.50% — 2.00% of the loan amount or INR 1500 (INR 2000 for Mumbai, Delhi and Bangalore) Interest Rates For salaried applicants: Floating Rate of aaa a Upto 35 lakh 8.05% Above 35 lakh to 8.20% 75 lakh Above #5 lakh 8.30% For self-employed:QO wANe) For self-employed: aera meted aaa Upto 35 lakh 8.20% Above 35 lakh to 8.35% 75 lakh Above #5 lakh 8.45% Administrative Charges: INR 5000 + GST or 0.25% + GST (whichever is lower) Statutory Charges Charges on account of stamp duty, memorandum of deposit (MOD), memorandum of entry (MOE), Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) or such other statutory bodies + applicable taxes will have to be paid.QO wANe) Features and Benefits Of ICICI Bank Home Loan Eligibility For Salaried Individuals: Present Age and Remaining Working Years: The age of the applicant plays a major role in determining home loan eligibility. The maximum loan term is generally capped at 30 years. Age Limit: Applicant Minimum 2! N Co-applicant Minimum 18 N Minimum Income: INR 25000. Maximum Loan Term: 30 years. Financial Position: The current income and the income prospects of an individual are given great importance while sanctioning a loan. Past and Present Credit History and Credit Score: Credit score of a person is another imnortant thine consideredQO wANe) Features and Benefits Of ICICI Bank Home Loan Eligibility For Salaried Individuals: Present Age and Remaining Working Years: The age of the applicant plays a major role in determining home loan eligibility. The maximum loan term is generally capped at 30 years. Age Limit: Minimum 21 Maximum 65 Minimum 18 Maximum 65 Minimum Income: INR 25000. Maximum Loan Term: 30 years. Financial Position: The current income and the income prospects of an individual are given great importance while sanctioning a loan. Past and Present Credit History and Credit Score: Credit score of a person is another imnortant thine consideredee) QO wANe) Past and Present Credit History and Credit Score: Credit score of a person is another important thing considered while giving a loan. Other Financial Obligations: Ongoing loans, like car loan, credit card debt, etc, are all taken into consideration. Repayment EMIs can be repaid by opening a savings account in the bank and then making the bank debit the money on a monthly basis from there. Documentation Salaried Individuals e Application form, photograph. e Residence and age proof, proof for identity. e Bank statements of the last six months. e Salary slips of the last three months. e Processing fee cheque. e Form 16 or income tax returnsQO wANe) e Bank statements of the last six months. e Salary slips of the last three months. e Processing fee cheque. e Form 16 or income tax returns Self-Employed Individuals e Application form, photograph. @ Residence and age proof, proof for identity. e Bank statements of the last six months. e Processing fee cheque. e Form 16 or Income Tax Returns. e Proof of a running business. e Certificate of education. e Tax returns with computation of Income for the last 3 years. e Audit documents of the balance sheet and profit and loss account (CA certified). Self-Employed Non Professionals1D 989 QO wANe) Self-Employed Non Professionals e Application form, photograph. e Residence and age proof, proof for identity. e Bank statements of the last six months. e@ Processing fee cheque. e Form 16 or Income Tax Returns. e Proof of a running business. e Tax returns with computation of Income for the last 3 years. e Audit documents of the balance sheet and profit and loss account (CA certified). e Profile of the business. How To Apply For ICICI Bank Home Loan e One can apply online for these home loans or by visiting a branch of the bank. e@ The home loan balance transfer facility ic availahle an an evictingQO wANe) How To Apply For ICICI Bank Home Loan © One can apply online for these home loans or by visiting a branch of the bank. @ The home loan balance transfer facility is available on an existing loan at a lower interest rate. e@ Top up on existing home loans is also available. ICICI Bank Home Loan Insurance Any borrower can buy a personal loan insurance policy from the bank or a service provider acceptable to the bank to safeguard himself or herself from paying the loan in case coming across any incapability like death, critical illness, permanent disability, job loss etc. Borrowers pay a separate premium for this insurance and in case they face any of the above issues, the insurance pays the rest of the amount and the balance is paid to the nominee of the account holder.EA macy OQ @ forbescom/advi < © @ = Forbes apvisor ICICI Bank Home Loan Insurance Any borrower can buy a personal loan insurance policy from the bank or a service provider acceptable to the bank to safeguard himself or herself from paying the loan in case coming across any incapability like death, critical illness, permanent disability, job loss etc. Borrowers pay a separate premium for this insurance and in case they face any of the above issues, the insurance pays the rest of the amount and the balance is paid to the nominee of the account holder. Methodology To rate the ICICI Home Loan, we have taken into consideration the following factors: e Ease of getting the home loan. e Interest rate charged by the bank. e Fees charged by the bank otherQO wANe) Methodology To rate the ICICI Home Loan, we have taken into consideration the following factors: e Ease of getting the home loan. e Interest rate charged by the bank. e Fees charged by the bank other than the interest rate namely. @ States covered by a bank and if the service is available in all the areas of a district. Frequently Asked Questions — What is the floating rate of interest? It is the rate of interest which is linked with the base interest rate. Any change in the base interest will change the floating rate of interest as well. + What is the base interest rate? + Howhigh can the rate of interest for ICICI Bank Home Loan? Poa eae