A home loan is a loan that is offered to individuals who wish to purchase a house or want to construct a new house. Your eligibility for a home loan depends on various factors including your income, employment status, tenure of the loan, loan amount etc. Since a home loan is a secured loan, the lender holds the title deed of the property until the borrower repays the loan in full along with the interest due. In general, lenders can offer home loans for up to 80%-85% of the cost of the property. Typically, the tenure on a home loan is between 5-30 years.   The interest rates for home loan can be fixed or floating (fixed or subject to prevailing market conditions), party fixed or partly floating based on the needs of the borrower.


A home loan is one of the most substantial financial decisions you can take in your personal life and is a financial commitment that can stretch for decades. It is important to research the loans available in the market and choose which one is best suited to you in terms of interest rates, tenure and other terms.

ICICI bank provides pre-approved home loans even before the customer finalises the property they are going to buy. This pre-approval helps customers get a firm idea of their budget for buying the property and helps in the decision making process. This preliminary e-approval will be subject to terms and conditions.  Existing ICICI customers might already have an approved loan offer. Obtaining online pre-approval will allow you to avail of a discount on processing fees on the loan.

Will I qualify for an ICICI home loan?

These are some of the factors you should keep in mind when applying for a home loan:

Credit health: One of the most important factors when you apply for a home loan is your credit health and it is within your control to improve it. If you have poor credit, there is a good chance that your loan application will be rejected. Obtain a copy of your credit report well before you plan to apply for a loan. This way, if there are any problems in your credit report you will have enough time to resolve these issues by the time you apply for your loan.

It is advisable to have a credit score of 750 or above in order to have a good chance to be approved for the loan. It is possible to get a loan with a lower score as well, but you might be offered unfavourable terms including a higher interest rate or lower loan amount.

Employment status: Since the home loan has a long tenure, lenders want to be assured that you will enjoy a steady income over the loan period to be able to make your repayments. If you have too many frequent job changes, lenders are nervous about your employment stability and may reject your application. Make sure you have a stable employment record when you apply for a home loan.

How do I apply for an ICICI home loan?

You can apply online on the ICICI bank website with the required personal details and get online pre-approval. Following this eligibility check, you can submit the application online and upload the required documents. You could also request a call back from an authorised representative of the bank if you would like to learn more about the home loans before applying. Alternatively, you could visit the nearest ICICI bank branch and meet with a customer representative.

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