Floating rate - home loan / home improvement loan/ land loan & Dual Rate Home Loan - during the period of applicability of the floating rate of interest :

No prepayment charge shall be levied on prepayment of floating rate home loan / home improvement loan, irrespective of the source of fund used by the borrower for making the prepayment.

For Land loans, no prepayment charges shall be levied if the prepayment is made by the borrower within 3 years from the date of first disbursement of the loan. The prepayment made after 3 years from the date of first disbursement shall bear a prepayment charge of 2%, plus applicable service tax and surcharge, of the amount being so prepaid if the house is not constructed (such amounts shall include all amounts prepaid during the given financial year) ICICI HFC shall seek proof of completion of house construction as deemed appropriate

Fixed rate - home loan / home improvement loan / land loan / fixed first home loan ( 1/2/3 year fixed ) & Dual rate home loan - during the period of applicability of the fixed / initial rate of interest :

No prepayment charges shall be levied on fixed rate home loan / home improvement loan / fixed first home loan if the prepayment is made by the borrower from his " own sources". The expression "own sources" for this purpose means any source of funds other than borrowing from a Bank or Financial Institution. In case the prepayment is not made by the borrower from his/her "own sources", prepayment charges amounting to 2%, plus applicable service tax and surcharge, of the outstanding amounts sought to be prepaid through finance from any Bank or Financial Institution, (such amounts shall include all amounts prepaid during the given financial year) shall be levied.

For Land loans, no prepayment charges shall be levied on the borrower if the prepayment is made by the borrowers from his/her own sources within 3 years from the date of first disbursement. The expression "own sources" for this purpose means any source other than borrowing from a Bank or Financial Institution . In the event, prepayment is made after 3 years, prepayment charges shall be levied on the borrower/s in case the house has not been constructed irrespective of the source of prepayment. However if the house is constructed, prepayment charges shall continue to be payable in case the prepayment is made from borrowing from any Bank or Financial Institution. For such cases, the prepayment charge amounting to 2%, plus applicable service tax and surcharge, of the outstanding amounts being so prepaid through borrowing from any Bank or Financial Institution (such amounts shall include all amounts prepaid during the given financial year) shall be levied. ICICI HFC shall seek proof of completion of house construction as deemed appropriate.

Other loans:

4% of the outstanding loan amount plus applicable service tax and surcharge on Loan against property, Lease rental discounting and Non residential premises loan

Floating to Floating 0.5% of the principal outstanding plus applicable taxes

Dual fixed rate to Floating 0.5% of the principal outstanding plus applicable taxes

Floating to Dual fixed rate 0.5% of the principal outstanding plus applicable taxes

Life time fixed to floating 1.75% of the principal outstanding plus applicable taxes