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ICICI Bank ensures that you get the best Loans in terms of interest rates and other facilities. You can choose from Adjustable, Fixed or Floating Rate Loan.
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| Charges | Mortgages Loans |
|---|---|
| Loan Processing Charges (Non Refundable) | 0.50% - 2.00% of the loan amount or Rs. 3000/- whichever is higher plus applicable taxes (including GST) and other statutory levies, if any. The processing/login fee is a one-time non-refundable fee and is collected by the Bank for the purpose of appraising the Application for the Facility and the same is independent of the outcome/result of such appraisal. The processing/login fee is payable at the time of submitting of the Application, by way of Cheque/Demand Draft favoring the Bank and/or such other mode as may be acceptable to the Bank. |
| Administrative Charges | 0.25 % of Facility Amount or ₹ 5000/- whichever is lower plus applicable taxes. (The Administrative charges are a one-time non-refundable charges collected by the Lender for the purpose of appraising the valuation and legal verification of property to ascertain suitability of accepting the property for mortgage and the same is independent of the outcome /result of such appraisal. Please note that the administrative charges are payable at the time of disbursement of the Facility) |
| Commitment charges / Non utilisation fee (Applicable for Overdraft Facility) | Minimum 30% utilization required on a quarterly average basis. Charge of 0.5% will be levied on the deficit amount*.
|
| Part Prepayment Fees | Nil of amount prepaid plus applicable taxes and/or other statutory levies. |
| Prepayment Charges | 1. For the Facility with Fixed Interest Rate at the time of prepayment: a) 2% on Home loan, Home improvement loan, Land loan and Top up on home loan on amount prepaid and on all amounts tendered by the Borrower(s) towards prepayment of the Facility during the last one year from the date of final prepayment. b) 4% on Non-home loan (i.e. Loan Against Property, Non Residential Premises, Lease Rental Discounting, Non Home Loan Top Up, Retail Trade Finance, Overdraft) on amount prepaid and on all amounts tendered by the Borrower(s) towards Prepayment of the Facility during the last one year from the date of final prepayment. c) Nil Prepayment charges on fixed rate loans if loan is booked under priority sector lending and Borrower(s) type is Small or Micro & Loan amount is less than or equal to Rs. 50 lacs. 2) For the Facility with Adjustable Interest Rate at the time of prepayment: a) Nil prepayment charges on home loan, home improvement loan and land loan. b) Nil prepayment charges on top up on home loan where the Borrower(s) is individual and the end use of the loan facility is other than business purpose. c) 2% on top up on home loan on amount prepaid and on all amounts tendered by the Borrower(s) towards prepayment of the Facility during the last one year from the date of final prepayment where the loan is given to individual Borrower(s) for business purpose and to Non-Individual Borrower(s) for all purpose. Nil prepayment charges will be applicable to individual Borrower(s) if loan is booked under priority sector lending and Borrower(s) type is Micro or Small Enterprise. d) Nil prepayment charges on Non-home loan (Loan against property, Non Residential Premises, Lease Rental Discounting, Non Home Loan Top Up, Retail Trade Finance , Overdraft) where loan is given to Individual Borrower(s) and the end use of the Facility is other than business purpose. e) 4% on Non-home loan (Loan Against Property, Non Residential Premises, Lease Rental Discounting, Non Home Loan Top Up, Retail Trade Finance, Overdraft) on amount prepaid and on all amounts tendered by the Borrower(s) towards prepayment of the Facility during the last one year from the date of final prepayment where the loan is given to individual Borrower(s) for business purpose and to non-individual Borrower(s) for all purpose. Nil prepayment charges will be applicable to individual Borrower(s) if loan is booked under priority sector lending and Borrower(s) type is Micro or Small Enterprise. f) Nil prepayment charges on Money Saver Account. |
| Conversion Charges | If Prepayment charges are not applicable in the Facility, then conversion charges shall be Rs. 1000/- plus applicable taxes
Adjustable Interest Rate to Adjustable Interest Rate - 0.5% of the principal outstanding plus applicable taxes |
| Cheque/ECS/NACH dishonor Charges, per transaction | Rs. 500/- charges per bounce/return/dishonor of cheques and /or any payment instruction including AD / ECS / NEFT / E-Cheque or such other amount as may be specified by the Bank from time to time and it shall be levied as per the discretion of the Bank. The applicable taxes and/or other statutory levies shall be levied over and above charges charged by the Bank. |
| Property Document retrieval charges | Rs. 500/-plus applicable taxes and other statutory levies, if any. |
| Cheque/Repayment mode swap charges | Rs. 500/-plus applicable taxes and other statutory levies, if any. |
| Cheque reissuance & revalidation charges | Rs. 250/-plus applicable taxes and other statutory levies, if any. |
| Late Payment Fees (Applicable for Overdraft Product) |
Rs. 500/-plus applicable taxes and other statutory levies, if any. |
| Additional interest | 1) Home Loans: 2% per month (2) Home OD : 1.5% of the outstanding amount (subject to minimum of Rs. 500/- & Maximum of Rs.5000/-) |
| Charges for Amortisation Schedule | Rs. 150/-plus applicable taxes and other statutory levies, if any for physical print out |
| Charges for Statement of account | Rs. 150/-plus applicable taxes and other statutory levies, if any for physical print out |
| Charges for prepayment statement | Rs. 150/-plus applicable taxes and other statutory levies, if any for physical print out |
| Charges for duplicate NOC/No Dues Certificate | Rs. 250/- plus applicable taxes and other statutory levies, if any. |
| Charges for revalidation of NOC | Rs. 100/- plus applicable taxes and other statutory levies, if any. |
| Charge for non submission of post disbursement documents | Rs. 5000/- plus applicable taxes and other statutory levies, if any. Every month the said charge will be levied from the day the document is due till the same is not submitted. |
| Charges for non collection of property documents post 60 days from the loan closure date | Rs. 500/- plus applicable taxes and other statutory levies, if any. Every month charges will be levied till collection of documents |
| Land Loan Penal Interest | 1% annually on the principal outstanding or Rs. 50,000/- whichever is lower or such other amount as may be specified by the Bank from time to time and it shall be levied as per the discretion of the Bank. This will be levied if the construction of the house is not completed within 4 years from the first disbursement date. Interest will be levied every year after 4 years till the construction is completed. |
| Renewal Fees (Applicable for Money Saver / Overdraft Product) | Rs. 3000/- + applicable taxes for sanction limit upto Rs. 5 million. Rs. 5000/- + applicable taxes for sanction limit above Rs. 5 million. Subject to yearly renewal at the request of the Borrower(s) and subject to the sole discretion of the Bank and terms and conditions set out herein. |
| Charges for List of Document | Rs. 250/-plus applicable taxes and other statutory levies, if any. |
| Loan Document Retrieval charges | Rs. 650/- plus applicable taxes and other statutory levies, if any. |
| Cash Transaction Charges (for repayment of EMI due in cash at branches) | Rs. 100/-plus applicable taxes and other statutory levies, if any. |
| Information utility charges (Only for corporate cases) | Rs. 300/-plus applicable taxes and other statutory levies, if any. |
| Additional Admin Fee for Non Auto Debit cases | Rs. 500/-plus applicable taxes and other statutory levies, if any. |
| CIBIL Report Charges | 1. For Individual Applicant/Co-applicant: Rs. 50/-plus applicable taxes and other statutory levies, if any. 2. For Non Individual (Corporate) Applicant/Co-Applicant: Rs. 500/-plus applicable taxes and other statutory levies, if any |
| Non-refundable charges under Central Registry of Securitization Asset Reconstruction and Security Interest of India (CERSAI) | For registration of security created in favor of ICICI Bank:
The charges for modification and satisfaction of security created in favour of the Lender, if and when applicable, shall be levied as per applicable law. For current charges and any revisions thereof, kindly refer to the applicable rules, regulations, and notifications etc., issued by CERSAI. The CERSAI charges mentioned above are non-refundable, statutorily regulated and are subject to change as per applicable law. |
| Provisional Income Tax Certificate | Nil |
| Final Income Tax Certificate | Nil |
| Interest Certificate | Nil |
| Change of Address | Nil |
| No Objection Certificate / No Due Certificate | Nil |
| Non Maintenance of Mode of Payment charges (NMMP) | Rs. 800/-plus applicable taxes and other statutory levies, if any. |
| Pick-up charges | Rs. 500/-plus applicable taxes and other statutory levies, if any. (For all retail products) |
| Miscellaneous charges viz. charges incurred in filing legal suit, repossession charges, Non Maintenance of Mode of Payment (NMMP) charge, pick-up charges) wherein customer requests for a pickup of the payment, professional charges for availing services of professionals i.e. title search, valuation, etc., charges incurred in SARFAESI proceedings, paper advertisement charges, auction charges for repossessed asset, security guard charges for protection of repossessed assets, yard charges for parking the repossessed asset in authorised yard, enforcement charges for availing logistical support during repossession, charges incurred in sending different notices, charges levied for deposition of cheque in branches for the purpose of paying loan dues and any other charges (as applicable) that arenot budgeted or specified, but are incurred by the bank on behalf of the customer. | At Actuals |
Note :
- Goods & Service Tax and other taxes, levies, etc. applicable as per prevailing rate will be charged over and above these charges
Range of Interest rates for Mortgage Loans
| Quarter ended on March, 2023 | Minimum | Maximum | Mean |
|---|---|---|---|
| Home Loan | 8.40% | 10.65% | 8.83% |
| Non Home Loan | 8.65% | 13.10% | 9.90% |
Note:
- The range of interest rates provided above is with respect to loans to individuals disbursed during Quarter IV - FY:2022-23
- It includes various categories like fixed rate, floating rate and is based on factors such as loan amount, customer relationships, etc.
- It excludes subsidy, government schemes.
- Mean rate = Sum of rate of interest of all loan accounts / Number of all loan accounts.
Annual Percentage Rate
The Annual Percentage Rate (APR) is a method to compute annualized credit cost which includes interest rate and loan origination fee.
To calculate the same, please click here to download the APR calculator
| Deliverable Type | Deliverable Processing Turn Around Time (TAT) | |
|---|---|---|
| Physical | ||
| Welcome Letter Post Disbursement of Loan | 15 days | 2 days |
| List of Documents | 7 days | - |
| Copy of Property Documents | 15 days | - |
| Foreclosure Statement | 1 day | - |
| Amortization Schedule | 7 days | 1 day |
| Statement of Account | 7 days | 1 day |
| No Objection Certificate (NOC) | 8 days (Post Loan Closure Date) | - |
| Income Tax Certificate | 5 days | 1 day |
| Reschedulement Letter - Conversion/Part Payment (Payment through Cash) | 5 days | 2 days |
| Reschedulement Letter - Conversion/Part Payment (Payment through Cheque) | 11 days | 8 days |
| Reschedulement Letter - Part Payment (Payment through Call Centre) | 6 days | 3 days |
| Handover of Original Property documents | 15 days | - |
Note : Except for welcome letter, the turn-around time of all other deliverables is post registration of service request. All days are considered as working days for turn-around time.
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