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Loan

Car Loan

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Please click any of the links below or type your query if you don’t see the right option.

How can I foreclose my Car Loan / Two Wheeler Loan?

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To facilitate prepayment of your Car Loan / Two wheeler Loan , you are required to visit an ICICI Bank Asset Servicing (Retail asset operation group ) branch along with the below mentioned documents to complete the prepayment process:

  • Pre-payment Statement
  • Request letter signed by the loan applicant
  • Bank statement reflecting the clearance of the last installment
  • PAN Card (If the closing cash payment is more than Rs.50,000)
  • Vehicle Registration Certificate (R C Book Copy)
  • Vehicle Insurance Copy
  • Mode of payment can be cash, cheque or demand draft

How do I approach ICICI Bank for a Car Loan?

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How do I update my mailing address, mobile number or e-mail ID registered under my loan account?

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You may update your mailing address, mobile number or e-mail ID with below:

  1. At any ICICI Bank branch:
    • Visit any ICICI Bank loan branch with a valid photo ID proof and submit an application.

PMAY subsidy is applicable for what category of customer profiles?

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Pradhan Mantri Awas Yojana is available for Salaried as well as Self Employed

How will I receive the interest subsidy benefit under Pradhan Mantri Awas Yojana?

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The Bank will claim subsidy benefit for eligible borrowers from National Housing Bank (NHB). The NHB will conduct a due diligence to exclude claims where customer has submitted multiple request. For all eligible borrowers, the subsidy amount would be paid to the Bank. Once the Bank receives the interest subsidy, it will be credited upfront to the loan account. The subsidy will be calculated on Net Present Value (NPV) at 9% discount rate.

 

For example, the borrower avails a loan for Rs. 8 lakh and the subsidy works out to Rs. 2, 20,000. The amount (Rs. 2, 20,000) would be reduced upfront from the loan (i.e., the loan would reduce to Rs. 5, 80,000) and the borrower would pay EMIs on the reduced amount of Rs. 5, 80,000.

 

*The above example is for illustration purpose only and the subsidy amount will depend on the actual amount received or any changes done by NHB on the same.

Gold Loan

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Please click any of the links below or type your query if you don’t see the right option.

What is the procedure to prepay my Personal Loan?

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For prepayment of your Personal Loan, please visit the nearest ICICI Bank Asset Servicing Branch. We request you to carry the following documents to complete the process:

  • Request Letter signed by the loan applicant
  • PAN Card (if the mode of payment is cash and the amount is more than Rs 50,000)
  • Payment can be made through cash, cheque or demand draft.

Who can avail Pradhan Mantri Awas Yojana Credit Linked Subsidy Scheme?

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The "Credit Linked Subsidy Scheme” (CLSS) under Pradhan Mantri Awas Yojana (PMAY) was announced by our Honourable Prime Minister Shri Narendra Modi. Under this scheme, interest subsidy on purchase/ construction/ extension/ improvement of house is provided to customers belonging to Economical Weaker Section (EWS)/Lower Income Group (LIG)/Middle Income Group (MIG). For eligibility the beneficiary family should not have received central assistance under the Mission “Housing for all by 2022”.

A beneficiary is defined as:

  • A family comprising of husband, wife and unmarried children
  • Beneficiary can also be an unmarried individual earning member of the family (only for MIG scheme).
  • Beneficiary should not own a pucca house either in his / her name or in the name of any member of his / her family in any part of India.
  • Beneficiary should not have received central assistance under the CLSS scheme
  • Meeting income criteria defined as per various categories under the scheme.

If I opt to increase my EMI, can I decrease the EMI in the future?

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The EMI once increased will not be decreased at a later date except in case of Part Pre-payment/ Conversion. You may visit to nearest ICICI Bank loan branch for further assistance.

To locate the nearest ICICI Bank Branch, visit maps.icicibank.com/mobile .

Can I partially repay the Gold loan amount?

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You can make part-payment, but the gold jewellery will be released only after the entire outstanding amount is repaid.

How can I prepay my Personal Loan as I am unable to visit branch?

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In case you are unable to visit our branch for prepayment of your loan, you can send your representative along with an authority letter duly signed by the loan applicant, for payment. The co-applicant or third party visiting the branch for closing the loan needs to carry the documents mentioned below:

  • Main applicant Identification proof (Driving License or Passport or Voters card or PAN Card)
  • Authorisation letter from main applicant.

How can I apply for a home loan?

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Applying for ICICI Bank Home Loan, Balance Transfer of your existing home loan, Personal Loan Linked to Home Loan (Top up), Loan Against Property, and other loan requirements is easy.


Existing Customers
If you are already an ICICI Bank customer, we recommend you to check whether you already have an approved loan offer.

Customers availing an approved loan, need to provide fewer documents for their loan processing.

CHECK YOUR AVAILABLE OFFER

New Customers
If you are new to ICICI Bank, please apply here for instant e-approval of your loan and experience enhanced service.

Apply now   Check Eligibility

How will my Loan eligibility be assessed?

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The loan eligibility of the applicant will be assessed based on internal guidelines and processes of the Bank as amended from time to time. As per the extant requirement, the borrower will be required to submit income documents like, salary slip, ITR, Bank statement, existing loan details etc for the purpose of eligibility assessment.

Can I close my home loan? What are the charges for prepaying my loan?

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The prepayment charges are as under:

  1. Nil for Home Loans and Home Improvement Loans with floating rate of interest.
  2. 2% plus applicable taxes on principal outstanding* on full repayment for Home Loans with fixed rate of interest.
  3. 2% plus applicable taxes on principal outstanding* on full repayment for Home Loan Top Up loan if the applicant or co-applicant is Non Individual.
  4. 4% plus applicable taxes on principal outstanding* where loan** is given to Non Individual borrowers or with fixed rate of interest to Individual borrowers. If the loan is sanctioned prior to March 1, 2011 then prepayment charges would be 2% plus applicable taxes.

*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.

Home Loan EMI Calculator

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With lower EMIs, ICICI Bank Home Loans are light on your wallet. Lower interest rate and repayment tenure of up to 30 years ensure a comfortable EMI for you during the entire loan tenure. You can estimate your EMI by using our feature rich Home Loan EMI Calculator.

To reduce the EMI burden of a home loan that you have already taken from another bank or Non-Banking Financial Company (NBFC), apply here for balance transfer and save money.

Opting for auto-debit facility on ICICI Bank Savings Account for paying ICICI Bank Home Loan EMI, earns you reward points that can be redeemed against exciting rewards from our partners.

Calculate EMI

 

Personal Loan EMI Calculator

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EMI is short form “Equated Monthly Instalment” or the Amount that is payable per month if you take a personal loan of a certain amount for a certain period. The calculation of EMI depends on 3 main factors:

  • Personal Loan Amount – The Rupee value of the loan that you take
  • Personal Loan Interest Rate – The interest rate that the bank will charge for the Personal Loan
  • Tenure of Personal Loan – The period for which you take the Personal Loan

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.

How can I know the outstanding balance of my two-wheeler loan account?

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You can know the balance outstanding of your two-wheeler loan account through the following channels:

Internet Banking:
Login to www.icicibank.com with your User ID and Password--> Main Page --> My Accounts --> Select Loans--> View Repayment Schedule / Amortization schedule --> Outstanding balance will be displayed here.

Customer Care:

You may call our Customer Care from your registered mobile number. To know the local Customer Care numbers, please click here

ICICI Bank branch:
Please visit the nearest ICICI Bank Asset Servicing Branch along with your valid ID proof. You may look for the nearest ICICI Bank Asset Servicing Branch on our website www.icicibank.com > Find ATM/Branch.

How do I approach ICICI Bank for a Gold loan?

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You may visit any ICICI Bank branch offering Gold Loans or submit your details in the ‘Call Me’ section for our Executive to contact you.

How can I check the status of my two-wheeler loan application?

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You can check the status of your two-wheeler loan application through the following channels:

Online process without login:
Visit www.icicibank.com --> Main Page --> Click on Products -->Loans--> Select any loan--> Check Loan Application Status

Customer Care:

You may call our Customer Care from your registered mobile number. To know the local Customer Care numbers, please click here

ICICI Bank branch:
Please visit the nearest ICICI Bank Asset Servicing Branch along with your valid ID proof. You may look for the nearest ICICI Bank Asset Servicing Branch on our website www.icicibank.com > Find ATM/Branch.

Can the facility be availed by pledging Gold Coins?

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You can avail ICICI Bank Gold Loan against the security of 24 carat gold coins issued by banks only (operating in India) with 99.99% purity. The weight of the gold coin(s) cannot exceed 50 grams per customer as per RBI policy.

 

 

Disclaimer: The above details may undergo amendments as per rules and regulations of RBI from time to time.

 

Who can avail an ICICI Bank Gold Loan?

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You can avail Gold Loan if you are an individual within the age group of 18 to 70 years

Are there any charges levied for late payment of interest?

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You will be charged a penal interest (as the case may be) at the rate of 6% per annum, over and above the normal rate of interest.

What is the maximum tenure on which the PMAY subsidy is applicable?

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The Pradhan Mantri Awas Yojana is applicable for a maximum considered tenure of 20 years.

What are the documents that I need to submit?

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  • Two passport size photographs
  • ID Proof such as Driving License or PAN Card or Form 60/61 or Passport Copy or Voter ID Card or Aadhaar Card or Ration Card. Any one document needs to be submitted
  • Address Proof such as Driving License / Voter ID Card / Ration Card / Aadhaar Card / Passport Copy / registered lease agreement with not older than 3 months utility bills in the name of landlord (any one)
  • Proof of land holding in case of agriculture loan of more than `1 Lakh

Is there any loan amount limit on Pradhan Mantri Awas Yojana?

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No, there is no loan amount limit for loan accounts which are booked under PMAY CLSS scheme.

Do I need to update the bank in the event of change in address due to relocation or any other reason?

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Yes. You will have to notify ICICI Bank within 7 working days of change in address in writing with the full details of all the change/s in the location/address of your residence or place of business