Repo Rate 6.50%

Special Home Loan Rates

At ICICI Bank, Special Home Loan Interest Rates are tailored to your credit score. These rates significantly determine the interest applicable to your Home Loan, ensuring fair and personalised lending.

Credit Score Salaried Self - Employed
9.00% 9.00%
750 - 800 9.00% 9.10%


Valid till 30 Nov, 2023

The above rates are linked to repo-rate.

Interest Rates

Standard Home Loan Interest Rates

Loan Slab Salaried Self-Employed

Up to ₹ 35 lakhs

9.25% - 9.65%

9.40% - 9.80%

₹ 35 lakhs to ₹ 75 lakhs

9.50% - 9.80%

9.65% - 9.95%

Above ₹ 75 lakhs

9.60% - 9.90%

9.75% -10.05%

Above mentioned interest rates will vary basis various parameters such as the Bureau Score, Profile, Segments, etc.

The above rates are linked to repo-rate.

The processing fee is 0.50% of the loan amount, plus applicable taxes

Valid till 31 July, 2023

Fixed Home Loan Interest Rates

Fixed Tenure Rate of Interest
24 Months Fixed


37 Months Fixed

60 Months Fixed

120 Months Fixed


Full Term Fixed


Above mentioned interest rates will vary basis various parameters such as the Bureau Score, Loan Slab, Profile, Segments, etc.

Valid till 31 July, 2023

Loan against Property (LAP)/NRP/LRD Interest Rates

Loan Slab Salaried/ Self-Employed( PSL) Self-Employed (Non PSL)

Up to ₹ 50 lakhs

11.35% - 12.00%

11.85% - 12.50%

₹ 50 lakhs to ₹ 100 lakhs


11.60% - 12.25%

Above ₹ 100 lakhs

10.85% - 11.50%

11.35% - 12.00%

Above mentioned interest rates will vary basis various parameters such as the Bureau Score, Profile, Segments, etc.

The above rates are linked to repo-rate.

Valid till 31 July, 2023

Home Loans FAQs

What is the current interest rate on Home Loans?

Please click here to know about the current interest rate on Home Loans.

How do you reduce the Home Loan interest rate?

The Home Loan interest rate can be reduced by doing a Balance Transfer to the new lender offering a lower rate of interest as compared to the existing lender. One can also approach an existing financier to lower the rate of interest.

Which rate of interest is considered to be the better option?

The rate of interest offered by the banks, which is linked with the external benchmark rate, is considered to be better as it offers faster transmission of rate changes.

How is the Home Loan EMI calculated?

The Home Loan EMI is calculated basis the loan amount required, the loan tenure and the rate of interest applicable.

What are the Interest Rates charged on Home Loans?

With ICICI Bank, you can get Home Loans at attractive Interest Rates. The Repo Rate fixed by the Reserve Bank of India (RBI) primarily determines what a borrower will pay, as do some other factors like the Loan Amount. Salaried individuals and the self-employed are charged different Interest Rates. For more on the topic, visit the Home Loans page on the ICICI Bank website.

Are there any other factors that determine the Interest Rates on Home Loans?

Yes, your CIBIL Score plays a major role in determining the Interest Rates you pay on your Home Loan, irrespective of when you apply.

How can I know my EMI amount for a particular Interest Rate?

Any applicant can find out what their EMI amount would be, using ICICI Bank’s Loan EMI Calculator. By entering the Loan Amount, Tenure and Interest Rate, you can get the EMI amount and the Interest payable on your Loan, instantly.

What are the types of interest rate in Mortgage Loan ?

The type of interest rate you choose can have a significant impact on your EMIs over the long term. Let's explore the two primary types of interest rates available for home loans:

1. Fixed Interest Rate: With a fixed interest rate, your loan repayment remains constant throughout the agreed-upon term. This option has stability and allows you to plan your budget effectively. It means your EMIs won't be affected by fluctuations in the market, making it easier to manage your monthly payments.

2. Floating Interest Rate: Unlike a fixed rate, a floating interest rate fluctuates based on the market conditions. It can be influenced by - the economy, inflation, and RBI policies. While it offers the potential for lower interest rates, it also exposes you to the risk of rates rising. If you're comfortable with uncertainty and want the possibility of lower repayments, a floating interest rate might be suitable for you.

What are the different methods for calculating interest rate payment ?

Understanding the rate calculation method can help you gain clarity on how your interest is calculated, this way you can plan your finances accordingly. Here are two common rate calculation approaches:

1. Flat Interest Rate: Under this method, the interest is calculated on the entire loan amount throughout the loan tenure. The interest remains the same throughout the repayment period, regardless of the outstanding principal. While this method may seem straightforward, it often results in higher interest costs over time.

2. Reducing Balance Method: This is the most commonly used method for home loan interest calculations. The interest is calculated based on the outstanding principal balance. As you make your monthly payments, the principal amount decreases, resulting in a lower interest charge. This method can help you save on interest costs over the long term.

What are the factors affecting the rate of interest on Mortgage your Loan ?

Securing a home loan is a significant financial commitment, and the interest rate you receive can greatly impact the cost of your mortgage. Several factors come into play when determining the interest rate for your home loan:

1. Credit Score: Your credit score is a crucial factor considered by lenders. A higher credit score demonstrates your creditworthiness and reliability as a borrower. Lenders often offer lower interest rates to individuals with excellent credit scores, as they pose lower risk.

2. Loan-to-Value Ratio (LTV): The LTV ratio is the proportion of the loan amount to the appraised value of the property. A lower LTV ratio indicates that you have a larger down payment, reducing the lender's risk. A higher down payment can help you secure a lower interest rate.

3. Economic Conditions: Interest rates are influenced by broader economic factors such as inflation, market trends, and central bank policies. During periods of economic growth, interest rates may rise, while they may decrease during economic downturns. Monitoring economic conditions can give you an idea of where interest rates may be headed.

4. Loan Term: The duration of your loan also affects the interest rate. Generally, longer loan terms may attract higher interest rates compared to shorter terms. Shorter terms offer less risk to lenders and may come with lower interest rates.

5. Loan Type: Different types of home loans, such as government-backed loans or conventional loans, can have varying interest rates. It's essential to explore different loan options and compare interest rates offered by different lenders to find the best fit for your needs.

6. Borrower's Income and Debt-to-Income Ratio: Lenders assess your income and debt levels to determine your repayment capacity. A higher income and lower debt-to-income ratio may result in a lower interest rate, as it indicates a stronger ability to repay the loan.

How to save on interest expenses of your Mortgage Loan ?

1. Make Extra Repayments: By making additional payments towards your principal amount, you can reduce the outstanding balance on which interest is charged. This can help you pay off your loan faster and save on interest costs. Consider allocating any surplus funds or windfalls towards your mortgage to accelerate the repayment process.

2. Refinance Your Loan: Refinancing involves replacing your current loan with a new one, typically at a lower interest rate. If market conditions have improved or your creditworthiness has improved since you initially obtained your loan, refinancing can help you secure a more favourable interest rate and potentially save thousands of dollars over the loan term.

3. Opt for a Shorter Loan Term: Choosing a shorter loan term can result in a higher monthly payment but can significantly reduce the overall interest you pay over the life of the loan. Evaluate your financial situation to determine if you can afford the higher monthly payments associated with a shorter term.

4. Negotiate with Your Lender: Don't be afraid to negotiate with your lender for a better interest rate. If you have a good payment history, a solid credit score, or a long-standing relationship with the lender, they may be willing to offer you a reduced rate. It's always worth exploring this option to potentially secure a better deal.