Home Loan for Salaried
Home Loan
Home Loan for Self-Employed
We Consider Different Sources of Income
Buying the right home needs a lot of planning: Comparing options, saving each month, a location that meets your needs, and much more. At ICICI Home Finance, we simplify availing a home loan so you can focus on what truly matters: Finding a home that’s just right.
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Different Income Sources
Loans tailored to your real-income - fixed salary & other income
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Widest Property Options
Finance new, resale, WIP, self-built, gram panchayat & more
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Faster Approval
Digital-first processing fast-tracks your loan eligibility in days
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Easy Documentation
Only key documents required for verification & eligibility
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Our Other Home Loan Solutions
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Plot and Construction Loan
Get a Plot and Construction Loan to buy land and construct your house
Balance Transfer + Top-up Loan
Avail extra funds with a Balance Transfer + Top-Up Loan to upgrade your home
Home Renovation Loan
Avail funds to refurbish your home or accommodate your growing family
Who Can Apply for a Salaried Home Loan
We consider several employment types with flexible salary structures – including cash components, hybrid salaries, or a self-employed spouse:
Home Loan Salary Eligibility – How It Works
We understand your income comes from various sources. ICICI HFC considers
Base salary, Monthly in-hand pay
Bonuses and allowances
Existing loan EMIs
Co-applicant income and more
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Criteria
Salaried
Maximum Loan Amount
₹5 crore
Age
21 to 60 years
Bureau Score
700+ or New to credit
Work Experience
Minimum 1 year in current company and 2 in total
Minimum Income
₹12,000+ per month
Disclaimer: Subject to ICICI HFC internal policies
Smart Tools to Plan Your Home Loan
EMI Calculator
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Eligibility Calculator
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EMI Cal
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Your EMIs
Repayment Amount
Interest Amount
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For representation purposes only. Final values may vary subject to company policy.
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Eligible Loan Amount
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Essential Documents for Salaried Applicants
5-Step Approval Process for Home Loan Eligibility for the Salaried
Step 1: Online Application
Your RM guides you during the online loan application and document submission process
Step 2: Document Verification
Our system retrieves your documents with your consent for verification purposes
Step 3: Income Assessment
We assess your profile carefully and conduct a Personal discussion to offer the best possible eligibility for your loan
Step 4: Property Evaluation
We conduct a thorough technical and legal verification of the property
Step 5: Approval & Sanction
If you qualify, we go through with the approval and issue the loan sanction
Step 6: Disbursal
Your loan is ready and waiting for you! Take a step closer to your own home
Charges – Clear and Upfront
Hear What Customers Have to Say
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Amit Anand Chavan
Thane, Maharashtra
Fantastic experience while going through my first home loan through ICICI HFC.
Parvesh
Mohali, Punjab
Time to time everything was done and the process was very good.
Delli Babu
Chennai, Tamil Nadu
All doubts were clarified during the loan process by ICICI staff.
Kumarjit K Bhattacharjee
Bangalore, Karnataka
The ICICI representative was an excellent help in the process.
Product & Loan
What types of home loans are available for salaried applicants?
Salaried individuals can apply for a range of options, including Home Loan, Home Renovation Loan, Plot + Construction Loan, and Balance Transfer with Top-Up Home Loan.
How much home loan amount can I get as a salaried applicant?
The minimum and maximum loan amounts depend on several factors, such as home loan eligibility based on salary, FOIR (Fixed Obligations to Income Ratio), and Bureau score.
Can salaried NRIs apply for a home loan?
Yes, salaried NRIs can apply under the NRI Loan category. The loan can be used for home purchase, plot and construction, home improvement, or balance transfer. The tenure can go up to 180 months, with at least one year of overseas experience and a total of two years of work experience (three years for Merchant Navy professionals).
How can I apply jointly with my spouse to enhance loan eligibility?
Adding your spouse as a co-applicant and submitting both sets of income documents increases your combined income, improving home loan eligibility based on salary and FOIR (Fixed Obligations to Income Ratio).
Eligibility & Income Evaluation
How is home loan eligibility calculated for salaried applicants?
Home loan eligibility for a salaried person is determined based on FOIR (Fixed Obligations to Income Ratio), Bureau score (ideally 700+), monthly income, work experience, and property type and location.
How is my salary evaluated for home loan eligibility?
Your home loan salary eligibility is verified through the latest three months’ salary slips, and six months’ bank statements. The minimum salary for home loan approval generally starts at ₹25,000 per month, depending on the city or location.
How much work experience is required for salaried applicants?
You need a minimum of two years of total work experience in your current company.
How is the interest rate on a home loan calculated for salaried applicants?
Interest rates are decided based on income level, Bureau score, loan amount, and tenure. The home loan calculator based on salary can help estimate your expected rate.
How does my credit score impact the interest rate for salaried home loans?
A higher credit score (700 or above) generally results in a lower interest rate. Applicants who are new to credit may be offered slightly higher rates until they build a repayment history.
Documentation & Verification
What documents are required for a salaried home loan application?
You’ll need a PAN card, Aadhaar or Passport or Voter ID, three months’ salary slips, six months’ bank statements, property documents, and co-applicant documents (as applicable).
How are salary slips and bank statements verified for home loan applications?
These documents are reviewed by RCU during credit appraisal to ensure consistency, verify income stability, and calculate the FOIR for loan eligibility for home loans for salaried applicants.
How can I automate EMI payments through my salary account?
You can automate EMI payments easily through eNACH registration at the time of loan disbursement.
How do I change my repayment account for a home loan?
Ensure your current account is active and funded, then visit the nearest ICICI HFC branch to initiate the account change. After swapping, the mandate update time varies—Physical: 12 days, eNACH: 2 days, Aadhaar eSIGN: 4 days. To cancel an old mandate online on loan service portal, log in, select the relevant LAN, click Continue, go to Mandate Cancellation / Stop Request, enter the Swapping SR Number and reason, and submit with OTP.
EMI, Tenure & Repayment
How is EMI calculated for a salaried home loan?
EMI is calculated based on the loan amount, tenure, and applicable interest rate. You can use our EMI calculator to estimate your EMI accurately.
How does tenure affect EMI for salaried applicants?
Tenure is linked to your age. A longer tenure results in lower EMIs, while a shorter tenure means higher EMIs but lower total interest.
How can I choose a loan tenure based on my salary and expenses?
Opting for a longer tenure can make EMIs more manageable while balancing your monthly expenses. Use our eligibility calculator to plan your loan tenure.
How does tenure affect EMI and total interest on a home loan?
Your income and tenure directly impact EMI and the total interest payable. Longer tenure reduces EMI but increases the overall interest paid.
Frequently Asked Questions
Still got questions? We have answered them. Select the category to explore the FAQs.
Repayment Tracking & Prepayment
How often can I make part-prepayments on my home loan?
You can make part-prepayments any number of times during your loan tenure, helping reduce the outstanding principal and interest burden. Log in to Loan Service portal to make your part-prepayment.
How can I request for repayment schedule for my home loan?
Visit icicihfc.com/loan-service. Log in using your LAN, PAN, or mobile number, select your loan account number, click Continue, go to Deliverables Request → Repayment Schedule, add notes or documents if needed, and submit after OTP verification.
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