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Fees and Service Charges
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.
| Charges | Mortgages Loans |
|---|---|
| Loan Processing Charges / Renewal Charges (Non Refundable) | 0.50% - 2.00% of the loan amount or Rs. 1500/- (Rs. 2000/- for Mumbai, Delhi & Bangalore), whichever is higher + applicable Goods & Service Tax |
| Prepayment Charges | Nil for Home Loan, Land Loan and Home Improvement Loan with floating rate of interest. 2% plus applicable taxes on principal outstanding* on full repayment of Home Loan, Land Loan, Home Improvement Loan & Top Up on Home Loan with fixed rate of interest. 2% plus applicable taxes on principal outstanding* on full repayment of Top Up on Home Loan if the end use is for business purpose Nil for Non Home Loan** with floating rate of interest and the end use is other than business purpose. 4% plus applicable taxes on principal outstanding* on full repayment of Non Home Loan** if the end use is for business purpose 4% plus applicable taxes on principal outstanding* on full repayment of Non Home Loan** with fixed rate of interest. *Current principal outstanding and all amounts tendered by the borrower towards prepayment of the Facility during the last one year from the date of final prepayment. **Home Equity Loan/Home Equity Enhancement Loan, Office Premises Loan and Lease Rental Discounting Loan. |
| Charges for late payment | Home Loans : 2% per month Home OD : 1.5% of the outstanding amount subject to minimum of Rs. 500/- & Maximum of Rs.5000/- |
| Conversion charges for home loan | If Prepayment charges are not applicable in the loan then below conversion charges are applicable Rs. 1000/- plus applicable taxes If Prepayment charges are applicable in the loan then below conversion charges are applicable Floating to Floating 0.5% of the principal outstanding plus applicable taxes Dual fixed rate to Floating 0.5% of the principal outstanding plus applicable taxes Floating to Dual fixed rate 0.5% of the principal outstanding plus applicable taxes Life time fixed to floating 1.75% of the principal outstanding plus applicable taxes |
| Repayment mode swap Charges | ₹ 500/- |
| Document Retrieval Charges | ₹ 500/- |
| Cheque/AD/ECS bounce charges | ₹ 500/- |
| Amortisation Schedule | Nil |
| Statement of Account | Nil |
| Final prepayment statement | Nil |
| Duplicate No Objection Certificate / No Due Certificate | ₹ 100 |
| Revalidation of No Objection Certificate | ₹ 100 |
| Provisional Income Tax Certificate | Nil |
| Final Income Tax Certificate | Nil |
| Interest Certificate | Nil |
| Change of Address | Nil |
| Agreement Copy | Nil |
| No Objection Certificate / No Due Certificate | Nil |
| Administrative charges | ₹ 5000 (The Administrative charges are a one-time nonrefundable 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) |
| CIBIL Report Charges | ₹ 50 |
| 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 are not budgeted or specified, but are incurred by the bank on behalf of the customer. | At actuals |
| Cash transaction charge for repayment of EMI dues at Branches | ₹ 100 |
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 June 2021 | Minimum | Maximum | Mean |
|---|---|---|---|
| Home Loan | 6.70% | 11.00% | 7.07% |
| Non Home Loan | 7.25% | 12.10% | 8.61% |
Note:
- The range of interest rates provided above is with respect to loans to individuals disbursed during Quarter I - FY:2021-22.
- 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 | 15 days | - |
| Copy of Property Documents | 15 days | - |
| Foreclosure Statement | 15 days | - |
| 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.
