Step Up Home Loans FAQs

You can make a part payment request for your home loan through any of the following channels:

Online process through National Electronic Funds Transfer (NEFT):

Yes, ICICI Bank accepts part payment of your home loan through National Electronic Funds Transfer (NEFT). In case you want to make part payment on your home loan account through NEFT, you need to visit the nearest ICICI Bank Asset Servicing Branch. The Service Request number received at the branch must be mentioned in the remarks column in the NEFT form while making part payment through NEFT. Please note that the NEFT transactions with invalid request numbers will be rejected.

Customer Care:

If you have a ICICI Bank A/c then you may call our Customer Care to do a part payment for your Home Loan. To know the local Customer Care numbers, please click on the below mentioned link.

https://www.icicibank.com/customer-care.page.

ICICI Bank branch:

You may visit the nearest ICICI Bank Asset Servicing Branch along with your valid ID proof as PAN card and payment mode either through cash, cheque or DD to make the part payment for your loan account.

You may look for the nearest ICICI Bank Asset Servicing Branch on our website www.icicibank.com > Find ATM/Branch.

The rate and other charges are same as applicable to a standard home loan.

No, if you have an existing home loan, you will not be eligible for the Step Up Repayment Facility.

No, if you have an existing home loan, you will not be eligible for the Step Up Repayment Facility.

The repayment under Step Up Repayment Facility is structured into 2 parts:

- Initial (Primary) period of 3-5 years only interest is payable.

- Secondary period (balance term) EMI is payable.

Under Step Up Repayment Facility, the loan is funded keeping into account the expected growth in income. Hence, the loan amount is more than the normal income assessment.

The maximum loan tenure under Step Up Repayment Facility is 20 years.

Only home loans (including Balance Transfer of Home Loan) are offered as Step Up Loans.

Step Up Home Loans are funded keeping into account the expected growth in salary income. Hence, the loan amount of step up home loan is more than the amount of home loans done under normal income parameter.

The repayment schedule is divided into two terms – Initial or Primary term & Secondary or Balance term. The initial or Primary period is for 3-5 years. Only interest is payable during this period. During the Secondary or Balance term EMI (interest and principal) is payable.

The minimum income required to avail the Step Up Repayment Facility is ₹30,000 per month.

Top-up loan can be availed only during the secondary tenure of the home loan.

Pre-payment can be made into the home loan account after commencement of the EMI for the loan (during the secondary tenure of the loan only).

To be eligible for this product, the borrower:

• Should be working with select corporates as identified by ICICI Bank
• Should have a minimum salary of Rs 30,000 per month
• Should not be more than 40 years old

No, an existing loan cannot be switched to Step Up Repayment Facility.

Yes, the Step Up Repayment Facility can be availed for both, builder purchase and resale transactions. For completed properties/ resale, the maximum primary period will be 3 years.