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ICICI Mortgage Loan


The rise in prices because of inflation makes it obligatory for a large segment to depend on private lenders to get their dreams or immediate necessities fulfilled. Mortgage loan ICICI(Loan Against Property) has been planned to assist this segment of borrowers. Bank lends the borrower up to 60% of the value of his or her pledged residential property and 45% of the value of the borrower's commercial property.

This is a multi-purpose loan that may be obtained at very reasonable rate by mortgaging existing residential or commercial property to meet urgent financial crunch. LAP is usually approved for a tenor of 15 yrs (180mths).This loan may be availed for any purpose:

  •          Higher studies of children
  •          Medical emergency
  •          Children’s Marriage
  •          Home renovation
  •          Dream vacation
  •          Debt consolidation
  •          Business expansion and so on.



Minimum number of documentation is required to avail ICICI mortgage loan.


Benefits of Mortgage Loan

         Simple Documentation

         Fast approval process

         Cheaper than Personal loan

         Higher loan amount



  •          The applicant should be at least 25 yrs old
  •          The minimum age of the co-applicant has to be 18 yrs
  •          The applicant should not be more than 58/60 yrs for Salaried and 65 yrs for Self-employed at the time of loan termination.

ICICI Bank offers you two types of interest rate namely, Fixed Rate of Interest and Floating Rate of Interest. The borrower can choose to make the repayments either through Electronic Clearing Service (ECS) or Post Dated Cheques (PDCs). A customer can always pre pay a part loan or repay the entire loan any time during the tenor based on the lenders norms for the same. ICICI Bank charge 2% on the principal outstanding for full pre payment of loan.


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Home Loan Interest Rates

HDFC Bank 10.75% - 11%
Reliance Finance 11%
Dhanalakshmi Bank 12%
Barclays Bank 11% - 11.25%
HSBC 10.75% - 11%
Kotak Mahindra Bank 11.25% - 11.50%
DHFL 11.25% - 11.50%
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Axis Bank 10.75% - 11%
ICICI Bank 10.50% - 11.75%
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