Home Loan

Your home loan eligibility depends on your income, Fixed Obligations to Income Ratio (FOIR), and Bureau score. A higher income and good credit history can help you get a bigger home loan amount.

• Salaried applicants: Up to 30 years
• Self-employed applicants: Up to 20 years

You can choose a tenure that gives you a low EMI home loan as per your income and comfort.

ICICI HFC offers:

• A wide range of home loan products for different income and property types
• Options for both salaried and self-employed applicants
• Top-up facilities
• A smooth digital home loan application and quick disbursal process

Yes! NRIs can apply for a home loan online for:

• Home purchase, home improvement, or plot + construction
• Balance transfer of an existing loan
• Tenure: Up to 180 months

Eligibility: Minimum 1 year of overseas experience and 2 years of total work (3 for Merchant Navy)

• Salaried: Based on salary slips and bank statements
• Self-employed: Evaluated using ITR, GST returns, and business financials
• Informal income: Assessed through business profile and cash flow

This ensures your home loan eligibility matches your repayment capacity.

A Bureau score below 700 may reduce your eligible loan amount or increase your interest rate. However, some home loan products are designed for “New to Credit” customers with limited credit history.

Existing EMIs lower your Fixed income to obligations ratio (FOIR), which can reduce your home loan eligibility. Clearing some dues before you apply for home loan can improve your eligibility.

Adding a co-applicant (spouse or blood relative) combines both incomes, which can increase your disposable income and eligible home loan amount.

A PAN card is mandatory for all home loan applicants.

Co-applicants must submit the same set of documents as the main applicant, including KYC documents, bank statement, income, and address proofs. This helps in processing the joint home loan application smoothly.

Your home loan application goes through these steps:

1. Login and document collection
2. Credit appraisal (Bureau, ITR, Hunter, AML, FI, RCU, PD)
3. Legal and technical verification
4. Loan Account Number (LAN) generation
5. Disbursement via cheque or fund transfer

• Legal check: Verifies property documents and title search
• Technical check: Includes a site visit and property appraisal

Both ensure your house loan application is safe and transparent.

You can apply for home loan online jointly with a spouse or blood relative. Their income will be considered, which may increase your loan eligibility.

• Fixed rate: The interest rate stays constant throughout the tenure.
• Floating rate: The rate changes with market conditions.

Choosing the right option can help you enjoy a low EMI home loan over time.

A longer tenure means a lower EMI, but higher overall interest payment. Choosing a suitable tenure ensures your home loan EMI fits your monthly budget.

You can set up eNACH with the assistance of RM at the time of loan disbursement.

Your EMI affordability and Fixed obligations to income ratio (FOIR) help decide your tenure. A longer tenure lowers EMIs and makes your home loan easier to manage.

• Longer tenure: Lower EMI but higher total interest paid
• Shorter tenure: Higher EMI but less total interest paid

You can make part-prepayments anytime through the Loan Service Portal (LSP) to reduce your loan tenure or lower your EMI and save on interest.

There are no prepayment charges for floating-rate home loans as per RBI rules, making it easier to close your loan early.

You can make part-payments anytime using the Loan Service Portal (LSP) to reduce your EMI or tenure.

You can easily request for your repayment schedule, and check your balance in the Loan Service Portal.

You can request to update or change your repayment bank account anytime through the Loan Service Portal.

Use the “View My Application” portal to:

• Track your home loan status
• Complete V-KYC, pay login & processing fees, and eSign documents easily.