Home Loan Disbursement

How does it work?


 

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Sanction

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Property Identification

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Document Submission

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Disbursement

Get Disbursement Assistance

Property / Disbursement Document Checklist

  • Sale agreement
  • No Objection Certificate from the builder
  • Letter from the builder with construction progress status
  • Original Own Contribution receipt & bank clearance
  • Prior Sale Deeds/Stamped and Registered Allotment letter in case of ‘Direct from DA Cases’
  • Original Registered agreement to the sale and Sale deed
  • No Objection Certificate from the builder/society etc., as applicable
  • Copy of Society registration certificate
  • Original Own Contribution receipt & bank clearance
  • Original Registered Sale Deed/Lease Deed/Partition Deed/Gift Deed
  • Original receipts for the pament made for the plot, if available
  • 7/12 extract/Property card
  • Original Prior Sales deed

Document Checklist One

Test Find out what documents you need to keep handy before proceeding towards the legal, technical and disbursement process.

Select your Home Loan Product or Service and City1

Test Find out what documents you need by selecting your Service and City

You will need:

Test Contact your Relationship Manager for any doubts regarding the checklist. Call the hotline number for any queries related to the process. CLICK HERE to initiate your disbursement process.

 

Click here to view documents to be submitted for loan disbursement

 

Financial institutions apply a wide range of risk assessment tools to gauge a borrower’s creditworthiness. This task is carried out diligently in case of long-term big-ticket mortgages like Home Loans, for obvious reasons. Apart from examining the individual creditworthiness of the applicants, banks also apply several checks on the property for sale. Since this is an asset acting as a security against the Loan, no stone is left unturned to ensure that the bank is lending money towards a safe property. Thus, banks carry out a legal and technical verification of the property, for which they would grant the Loan. Once both the legal and technical parameters are met, the bank will proceed to the final stage of the Loan disbursement process.

Contact your Relationship Manager for making a choice for your dream home.

  1. Property Not Identified

    Bank approved projects refer to those properties whose title and other legal documents have been examined by the Bank thoroughly, so that interested home buyers can be assured that the project is legally clear and they can go ahead with the property purchase, without worrying about likely issues on the builder’s title/right to the property being built. Banks also inspect the building plan and all other clearances required by the builder for the construction, as a part of its project approval process.

    Visit http://home.icicibank.com/home to choose your dream home.

    Contact your Relationship Manager for making a choice for your dream home.

    Call the Hotline Number for any queries related to the process.

  2. Property Identified:

    If you have already finalised your property, the next stage of the Loan disbursement is property evaluation. Property evaluation is done both legally and technically. An ICICI Bank empanelled lawyer does legal valuation. Certified property evaluators do the technical valuation.

    Click here to find the Property Checklist as per State transaction.

    Click here to initiate your disbursement process.

    Contact your Relationship Manager for any process support.

    Call the Hotline Number for any queries related to the process.

Legal Evaluation

*In case of APF Builder Purchase cases, legal evaluation is waived off.

Contact your Relationship Manager for initiating property evaluation.

Call the Hotline Number for any queries related to the process.

Click here to initiate your disbursement process.

Technical Valuation

Contact your Relationship Manager for initiating property evaluation.

Call the Hotline Number for any queries related to the process.

Click here to initiate your disbursement process.

Document Checklist One

Test Find out what documents you need to keep handy before proceeding towards the legal, technical and disbursement process.

Select your Home Loan Product or Service and City1

Test Find out what documents you need by selecting your Service and City

You will need:

Test Contact your Relationship Manager for any doubts regarding the checklist. Call the hotline number for any queries related to the process. CLICK HERE to initiate your disbursement process.

After your file has passed both the sanction and property evaluation stages, the Bank decides the final amount, which can be disbursed basis the stage of property evaluation. 

Hence, the next responsibility as a recipient is to finish the final formalities of the disbursement. 

In this stage, you as a customer have to sign few agreements with respect to the transaction type, like Mandates, Disbursement Request Form and Facility Agreement of the Loan amount. 

Along with this, Bank also requires the original documents pertaining to the mortgage transaction to validate the collateral security. 

After all the processes are ticked, Bank proceeds to disburse the amount in favour of the recipient, based on the banking proof submitted.

Customer gets to decide the date of disbursement, date of EMI and mode of disbursement based on their convenience.

Click here to initiate your disbursement process

  1. Disbursement Documentation

    Contact your Relationship Manager for any doubts regarding the checklist.

    Call the Hotline Number for any queries related to the process.

    Click here to initiate your disbursement process.

  2. Seller Verification/Original Document Verification (In case of Resale/Non APF Builder Purchase)

    Seller Verification happens in case of Resale properties. Here a bank employee verifies the identity and banking of the seller physically. This activity is done to authenticate the nature of the transaction and genuineness of the individual, using both bank’s validation (Bank Statement) and Identity Validation (PAN Card/Aadhar Card).

    *All the Title Owners of the property have to co-operate for Seller Verification.

    Contact your Relationship Manager to understand the applicability of the Seller Verification in your case.

    Call the Hotline Number for any queries related to the process.

    Click here to initiate your disbursement process.

  3. EMI Date & Pre EMI Charges (what)

    At ICICI Bank, there is a flexibility in the choice of EMI Date i.e., 1st of the Month, 5th of the Month. Apart from these two dates, if in a rare case the customer’s salary credit is beyond 5th of the month, then 10th of the month can also be considered after taking necessary approvals.

    Pre-EMI Charges are the different interest charges that a customer has to pay from the date of disbursement and the day of the start of the EMI.

    Contact your Relationship Manager to take an informed decision for your case.

    Call the Hotline Number for any queries related to process.

    Click here to initiate your disbursement process.

  4. Date of Disbursement is required

    Date of Disbursement should be ideally within 7 working days before the registration date, as the validity of the cheque after disbursement is 7 working days.

    After 7 days, the Bank is obliged to cancel the disbursement to protect the customer from unnecessary interest charges and the customer has to request his/her Relationship Manager for initiating the disbursement again basis the old disbursement.

    Contact your Relationship Manager to take an informed decision for your case.

    Call the Hotline Number for any queries related to the process.

    Click here to initiate your disbursement process.

Administrative charges are paid towards the legal and technical evaluation of the collateral. 

Stamp Duty Charges are applicable as per the respective State’s governing laws.

Contact your Relationship Manager to understand the applicable charges for your case.

Call the Hotline Number for any queries related to the process.

Click here to initiate your disbursement process.

Didn’t receive a call from your Relationship Manager?

Click here to contact your Relationship Manager for any process support or call the Hotline Number for any queries related to the process.

Call the Hotline Number for any queries related to the process. 

Click here to initiate your disbursement process.

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