An ICICI Bank Takeover Loan for Home Loan Borrowers
A loan scheme for the balance of transfer of your existing housing loan to ICICI Bank.
ICICI Bank Balance of Transfer Home Loan
This loan scheme helps people looking for a relatively low-interest home loan transfer their home loan from other banks, Non-Banking Financial Companies (NBFCs), Housing Finance Companies (HFCs), etc. to ICICI Bank.
Features of ICICI Bank Balance of Transfer Home Loan
Why this Loan?
- The ICICI Bank Balance of Transfer Home Loan is meant for housing loan borrowers of other banks, NBFCs and HFCs who want to transfer their housing loan to ICICI Bank. This scheme can help reduce the debt burden on the borrower, thereby acting as a consolidation loan, if the borrower gets better terms such as a lower interest rate on the new loan
- ICICI Bank offers a top-up facility up to 100% of the original loan amount with this scheme
- The bank also offers Insta loans, which are digital loans and can be availed online via the bank’s internet banking facility, in this category
- The maximum loan amount sanctioned under this loan and the repayment period are decided by the bank on a case-to-case basis
- The bank offers a maximum tenure of 20 years for home loans and 15 years for non-home loans depending on the age of the borrower and the original tenure of the existing loan
- As of October 2020, the interest rate applicable to this loan is may range from 7.45% to 8.65%
- The bank may ask for the first charge of property financed by the bank
- The bank charges up to 2.00% of the total loan amount up to Rs. 2,000 for processing this loan
- Loan Application Form duly filled and signed by the applicant and co-applicant, if any
- Two Passport Size Photographs of applicant and co-applicant
- Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card / PAN Card Issuing Letter is must
- Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
- Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Income/Banking Proof for Salaried Professionals: Last 3 months’ salary slip, Form 16 or income tax returns
- ICICI Bank Website: www.icicibank.com
- Headquarters: Mumbai, Maharashtra
- Call Centre Number: 1860 120 7777