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Import [24/03/2020 08:08]

On what basis is the pre-approved loan amount decided for the particular customer?

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Pre-approved Home Loan offers are generated on ICICI Bank customers basis combination of multiple financial parameters such as credit bureau checks, salary credits, average bank balances, etc.

What are the kind of charges/fees one needs to pay for while applying for the loans?

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Under this product, we are offering a special flat processing fee of Rs <3,100> at time of sanction. For disbursement, normal fee will be collected for property and other checks. Processing fee chargeable will be displayed online while availing of sanction.

How much time does it take under the Insta Banking initiative for the process of sanctioning and disbursement of loans?

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As the name of the product states, sanction can be availed instantly by the customer within a few clicks. Disbursement process is the same. The customer saves 3-5 working days by availing of Instant Home Loan.

What is the maximum loan amount under pre-approved Home Loan?

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Maximum loan amount is Rs 3 crore. Click here bit.ly/PAHL2 to check offer loan amount.

What is the minimum and maximum tenure for the loan?

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Tenure will be based on customer's age, subject to a maximum tenure of 30 years. The applicable tenure for the customer will be displayed while availing of sanction. Customer can also avail for lower tenure, if required.

 Will there be a top-up facility available with this product?

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Yes, customer availing of Home Loan under this product will be able to avail of top-up as per the policy of ICICI Bank.

Can a person take a Home Loan for renovation/repairs through pre-approved Home Loan?   

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Home Improvement Loan is based on the estimate based on cost of improvement to be approved by the bank. Home Improvement Loan cannot be sought under Instant Home Loan.

Will the Home Loan account be link to my Savings Account?

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Yes, repayment of the loan has to be done through Savings Account.

What is the rate of interest for pre-approved Home Loan?

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Rate of interest is dependent on parameters such as CIBIL score, loan amount, etc. The rate of interest is displayed online when availing of the offer. Click here bit.ly/PAHL2 to check the rate of interest.

What is pre-approved Home Loan?

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Pre-approved Home Loan is an exclusive Home Loan offer for ICICI Bank customers. With this offer, customers can avail of instant online sanction of their Home Loan for up to Rs 3 crore for 30 years. No documentation is required for sanction of this loan.

What is the facility of applying joint Home Loan through this product?

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Yes, co-applicants will be added under this product before availing of disbursement.

What is the process for documentation and KYC related aspects of this product? Is it digital or a customer has to visit the local branch?

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For availing of disbursement, customer can visit the nearest branch or contact the assigned Relationship Manager (RM) with the sanction letter and the documents of the home he/she wants to purchase. RM details will be mentioned in the sanction letter. Property checks and co-applicant addition will be done before disbursement.

What is the validity of sanction letter availed under pre-approved Home Loan?

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Sanction letter is valid for 6 months. During this time period you can avail disbursement

Can I take more loan than the loan offer under pre-approved Home Loan?

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<10>% enhancement on offer can be done by Mortgage team. Contact your relationship manager for details.

Can sanctioning and disbursement of loans be done through iMobile?

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Yes.

Which kind of properties are accepted under this product (Under construction, Re-sale properties, etc.)?

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This is a standard Home Loan product. Under this product, under construction/built up residential properties can be accepted as collateral. The construction has to be approved by authorised authority in the area.

Do you provide Home Loans for NRIs through this product? What is the eligibility for an NRI seeking Home Loan through ICICI Bank?

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Currently, this offer is only applicable to Indian residents.