Overview – Top-Up for Self-Employed

Looking for some financial help but don’t know how to get it? Why go anywhere else when you are already part of the ICICI HFC family?

Tap into the true value of your most important asset – your home- with ICICI HFC Top Up loans.

A top-up loan offers you some extra financial support for you to fulfil any personal or business needs that arise when you are paying off your home loan. A Top Up loan can help you meet the other financial obligations you have so

Whether it is:

  • To increase your home loan amount
  • Your child’s education or marriage
  • An urgent requirement of cash for your business or even
  • Necessary home renovations or furnishing
  • Buying consumer durables or furniture
  • For a major purchase like a vehicle or vacation

We, at ICICI HFC, understand that life doesn’t stop when you invest money in your home and need extra financial aid for various personal reasons. If you already have a home loan from another financial institution, you can get a Top Up when you shift your Home Loan to ICICI HFC using our Balance Transfer (BT) facility. 

Key Features & Benefits – Top-Up for Self-Employed

Easy eligibility

It is simple to get a Top Up Loan from ICICI HFC if you have been a customer of ICICI HFC for at least one year as your details would already be present in our system. Even if you don’t have formal income proof documents such as ITR, our local experts are trained to assess your income so that they can help you determine the loan amount you can comfortably repay. To increase your eligibility, you can even add a co-applicant, who could be your spouse or immediate family member.

Loans for all homeowners

Our Top Up Loan helps both salaried individuals like government employees and corporate professionals, as well as self-employed individuals like doctors, lawyers, CAs, traders and small business owners. Whether your need is big or small, we finance them all. 

Quick loan disbursal

Your loan will be processed in as less as 72 hours because, being an existing customer, most of the checks would already have been done. At every one of the 135+ branches of ICICI HFC, we have a team of legal and technical experts to help you. These experts can review your application on the spot and assess your repayment history on the spot, so that you do not have to make multiple visits. 

Easy transfer

Even if you already have a home loan, you can shift to ICICI HFC to reduce your EMI burden and get undivided attention from our local experts and competitive interest rates. You can shift your home loan to ICICI HFC with our Balance Transfer (BT) facility and apply for a Top Up as well.

Eligibility - Top-Up for Self-Employed

To avail of a Top Up loan you must have made payments on your existing home loan. In case you want to understand this condition better or are looking for a better solution, walk into any of our 135+ branches and our experts will help you. 

Self-employed

  • Nationality

Indian, residing in India

  • Age Limit(Primary applicant)

28 years to 70 years

  • Co-owned Property 

ICICI HFC provides better interest rates to women to encourage them to apply as co-applicants. If you add your wife or mother to your home loan, you may be able to get a lower interest rate, even if they are not earning.

Co-applicant

  • Age Limit

18 years to 65 years

  • Why should you add a co-applicant?

  • If you want to increase your home loan eligibility, you can add a co-applicant, even if they are not earning. This can also help you to be eligible for a larger home loan. Your co-applicant can be your spouse or immediate family member.

  • Because ICICI HFC provides better interest rates to women to encourage them to apply as co-applicants.

Why take a loan from ICICI HFC?

Walk into any of our branches to meet your local experts. They are committed to helping you at every step of your home buying journey. They speak your language and understand your needs. Click here  to find the branch closest to you and get the right kind of guidance face-to-face. Our experts are committed to getting you the financial support you need. 

It is always better to sit across the table and get your questions answered all at once. You can have this experience at every one of our 135+ ICICI HFC or walk into your nearest ICICI Bank branch to get your loan process started. Our local experts are just around the corner, waiting to help you get a home loan as quickly and as easily as possible.  

At each of our branches, you can get a loan in as little as 72 hours. We have easy eligibility norms and require very few basic documents. We also have a team of legal and technical experts physically present at every one of our branches, so your loan application can be reviewed at the branch itself without repeated requests for documents or multiple visits.  

A major advantage of walking into your nearest ICICI HFC or ICICI Bank branch is the special offers. Our in-house experts will guide you through the benefits of each of the offers, so you can find one that truly helps you. Walk in to find the deal of the day.  

When you take a loan from us, you become a part of the ICICI HFC family. It’s an investment in a relationship. As an existing customer of ICICI HFC, your application can be reviewed more quickly, as many checks are already done, and documents are already in our system. Today, you may need a home loan to make your dream home a reality. But tomorrow, if you need some urgent financial help, or if you are expanding your business, or looking for an FD to grow your savings, we can help you. 

Where to apply

Walk into any one of our ICICI HFC branches to get all the help you need. Our neighbourhood experts can assist you through our quick and easy home loan application process. You can get your loan disbursed in as little as 72 hours because as an existing customer of ICICI HFC, we already have your records in our system. Beyond that, we will require very basic requirements for you to fulfil. Click here to find your nearest branch.  If you don’t have an ICICI HFC branch near you, walk into your nearest ICICI Bank branch to start your loan application process. 

How to apply

  1. Take 10 minutes to submit your loan application form along with the required documents
  2. Pay a non-refundable login fee of ₹ 5000 applicable taxes to complete your KYC checks 
  3. Get your loan application quickly reviewed by our team of experts who study your existing EMIs, age, income, and property
  4. Get a loan amount approved and sanctioned by our team of experts who are present at every ICICI HFC branch.
  5. Pay a processing fee equal to 0.75% of the loan amount or ₹ 11,000 applicable taxes, whichever is higher
  6. The approved loan amount will be disbursed, basis the value of your home.

Documents Required for Top-Up for Self-Employed

We require very few basic documents from you to complete the application process. Along with the standard documents needed to apply for a Home Loan, you would need to submit your EMI receipts for your existing Home Loan for at least 12 months. 

Self-Employed Individuals
  • Fully filled application which you have signed
  • Identity and residence proof (KYC), such as PAN card, Voter ID card, Aadhaar etc.
  • Income proof, such as latest 2 income returns, latest two years P&L accounts and B/S (with schedules), six-month bank statement etc.
  • Property documents 

Self-Employed Non-Individuals
  • Fully filled application which you have signed
  • Identity proof (KYC), such as PAN card, copy of GST registration, AOA, MOA of company etc.
  • Income proof, such as latest 2 income returns, latest two years P&L accounts and B/S (with schedules), six-month bank statement etc.
  • Property documents 

Rates & Charges for Top-Up for Self-Employed

You have a right to know exactly how much you will need to pay for your Top Up loan and when. You can find below the list of charges and rates applicable to your loan. We make it a point to be transparent about how our loans work, so you can rest easy with the support of the local experts who sit out of our branches. 

Charges Rates*

Login Fee (non-refundable)

₹ 5,000*

Processing/ Administrative Fees (Charged at the time of sanction)

0.75% of the loan amount or ₹ 11,000, whichever is higher*

Prepayment charges

If you are able to pay off part or all of your Top Up loan, you can choose

to settle all or part of you loan as per your convenience, no matter your chosen tenure*#

* The above amounts & percentages are exclusive of applicable taxes and other statutory levies, if any such amounts shall include all amounts prepaid during the given financial year.

# Goods and Services Tax (GST) and other government taxes, levies, etc. applicable as per the prevailing rate will be charged over and above these charges.

Disclaimer

  • The rates, fees, as stated hereinabove, are subject to changes/ revision from time to time at the sole discretion of ICICI Home Finance Company. 
  • The floating interest rate on ICICI Home Finance is linked to the ICICI Home Finance Company Prime Lending rate (IHPLR).

FAQs

We provide low interest Top-up loans to avail funding for needs such as furnishing your home, child’s education or wedding, buying a vehicle, family holiday, buying consumer durables, etc. Or even as an additional financing over and above your home loan. This additional amount will be disbursed using your property as collateral.

You need to have had your ICICI HFC Home Loan for at least 12 months to apply for a Top Up. If you already have a home loan with another financial institution, you can avail of a Balance Transfer loan and move to ICICI HFC if you have made payments on your existing Home Loan for at least 2 years. 

A minimum of 12 months of payment on the existing home loan is required for our legal and technical experts to ensure you are comfortably being able to repay your home loan EMIs. We do not want you to take on any pressure and that is why our experts will assess your repayment capacity and existing EMIs before disbursing your Top Up loan. 

ICICI HFC ensures that you achieve your desired goals without feeling stressed. You can avail a Top Up loan of up to ₹ 1.5 crore for your requirements.

We strive to offer the lowest interest rates on our Top Up loans. The interest rates on Top Up loan will be 1% higher than the Balance Transfer interest rate.

ICICI Top Up loans can be utilised for various personal requirements like:

  • Furnishing/renovating your home
  • Buying consumer durables/ furniture
  • Your child’s education cost
  • Your child’s marriage expenses
  • Family holidays
  • Buying a new vehicle

At ICICI HFC the tenure of your Top Up loan can be up to 20 years. However, the tenure cannot exceed the retirement age of the customer. 

A processing fee of 0.75% of the loan amount or ₹ 11,000, whichever is higher, will be charged to avail a Top Up loan.

Even if you already have a home loan, you can shift to ICICI HFC to reduce your EMI burden and get undivided attention from our local experts and competitive interest rates. You can shift your home loan to ICICI HFC with our Balance Transfer (BT) facility and apply for a Top Up loan as well, on which the rate of interest is 1% higher than the BT rate.