ICICI Home Loan Interest Rate – Complete Guide & EMI Tips

Key Takeaways

• ICICI Bank home loan interest rates range roughly between 8.50%–9.65% p.a. for standard loans, varying by salary status and loan slab.
   
• The home loan processing fee charged by ICICI Bank can be up to 2% of the sanctioned loan amount plus applicable taxes, as per the bank’s official service charges.
   
• NRIs can apply digitally for ICICI Bank home loans with repayment tenures of up to 30 years. The ICICI home loan interest rate for NRI borrowers follows the same transparent, repo-linked structure as resident loans.

Did you know how a difference of just 0.5% in your interest rate could save you lakhs over the next 20 years?

The ICICI Bank home loan interest rate is the cost I pay to borrow money from ICICI Bank to purchase or construct a house. It is charged annually on the outstanding loan amount and directly decides my EMI and total repayment. When I compare lenders, I closely track ICICI mortgage rates ICICI Bank publishes, because these rates are repo-linked and move with market conditions.

When I take a home loan of ₹50,00,000 for 20 years at an interest rate of 8.75% per annum, my EMI comes to around ₹44,500. If the interest rate increases to 9.25%, my EMI rises to nearly ₹46,600. 

This small 0.50% increase means I pay over ₹5,00,000 more as total interest during the loan tenure. This shows why understanding the home loan interest rate is important before finalising the loan.

Types of Home Loans Offered by ICICI Bank 

ICICI Bank lists multiple home loan variants to match different property and borrower needs. Each product has its own eligibility and usage purpose.
 

These loan options ensure flexibility for buyers, builders, and NRIs under one banking platform.

Bonus Tip: Do you know? ICICI Bank now offers repo-linked home loan rates starting at 7.65% p.a. for select borrowers with strong credit profiles.

ICICI Bank Home Loan Interest Rates

Here are the latest slab-wise ICICI Bank home loan interest rates, divided for salaried and self-employed borrowers to help compare pricing.
 

These rates are repo-linked and slab-based, so the final interest offered depends on your loan amount, employment type, and credit profile.

ICICI Bank Home Loan Processing Fees & Charges 

ICICI Bank publishes multiple fees and service charges relevant to home loans:
 

These charges impact the overall cost of borrowing, so reviewing them before applying is important.

How to Apply for an ICICI Bank Home Loan?

Start with clear documentation and check eligibility. Here’s how to apply step-by-step:

1. Visit the official loan page on the ICICI Bank website.
2. Select your loan type based on your specific needs (purchase/transfer/NRI).
3. Enter personal and property details.
4. Upload KYC and income proofs as requested.
5. Pay the processing fee online.
6. Submit an application and track your status online.
7. After verification, receive provisional sanction and complete final documentation.

Once approved, the sanction letter confirms the applicable interest rate and EMI. Tools like the ICICI home loan calculator help estimate EMIs before final submission.

Conclusion 

ICICI Bank home loans offer varied interest rates suited to different borrowers, with transparent fees and online applications. Review the slabs and scheme features before applying. Use tools like the ICICI home loan calculator and the home loan interest rate calculator before applying. 

Compare EMIs carefully and review the ICICI mortgage rates ICICI Bank offers to make a borrowing decision.

FAQs Related to ICICI Bank Home Loan Interest Rates

1. How can I change the interest rate on my existing ICICI Bank home loan?

You can request an interest rate conversion with ICICI Bank if your loan is on a floating rate. The bank may charge a conversion or switching fee, and the revised rate depends on your credit profile and current pricing.

2. How does ICICI Bank decide my home loan amount and interest rate?

ICICI Bank evaluates your income, CIBIL score, loan amount, tenure, and repayment capacity. Higher income stability and a strong credit score generally improve eligibility and help in securing lower interest rates.

3. Can I negotiate or restructure my ICICI Bank home loan interest rate if others are getting lower rates?

Yes. You can request a rate review or repricing if your credit score is strong and your repayment history is clean. Sharing competing bank offers can help, but ICICI Bank usually aligns rates based on internal policy and borrower risk, not negotiation alone.

4. Is ICICI Bank a good choice compared to SBI or HDFC for a home loan?

ICICI Bank is preferred by many borrowers for digital servicing, faster processing, and online prepayment options. While SBI may sometimes offer slightly lower rates, ICICI Bank provides convenience and smoother loan management for salaried customers.

5. Does prepaying an ICICI Bank home loan reduce interest significantly?

Yes. Prepaying early reduces the principal outstanding, which directly lowers the total interest paid over the loan tenure. ICICI Bank does not charge prepayment fees on floating-rate home loans, making early repayment beneficial.
 

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About the Author

LoansJagat Team

‘Simplify Finance for Everyone.’ This is the common goal of our team, as we try to explain any topic with relatable examples. From personal to business finance, managing EMIs to becoming debt-free, we do extensive research on each and every parameter, so you don’t have to. Scroll up and have a look at what 15+ years of experience in the BFSI sector looks like.