A Mortgage Loan from ICICI Bank to meet your financial needs

Pare down your debt with this loan against property

ICICI Bank Loan Against Property

This loan helps borrowers get access to funds by mortgaging their property to the bank to meet their urgent financial needs such as wedding expenses, travel expenses, medical exigencies, higher education, debt consolidation and so on. The maximum loan amount sanctioned by the bank under this loan scheme is Rs. 5 crore.

Features of ICICI Bank Loan Against Property

Why this Loan?

  • The ICICI Bank Loan Against Property is meant for borrowers who want to avail financial assistance by mortgaging their property to the bank to meet their urgent financial needs other than for capital market, business, trading or speculative purposes
  • This loan can also be repurposed into a consolidation loan to pay off high-interest debts
  • The bank offers special terms and concessions to doctors when they avail this loan

Loan Amount

  • The loan amount to be sanctioned under this loan scheme is decided by the bank on a case-to-case basis. The maximum loan amount sanctioned by the bank under this loan is Rs. 5 crore

Interest

  • As of June 2020, the interest rate applicable to this loan may range from 8.90% to 9.10% depending on the quantum of loan

Repayment


  • This loan must be repaid within 15 years

Security Needed

  • The bank asks for the first charge of equitable/registered mortgage of property

Processing Charges

  • The bank charges 1.00% of the loan amount for processing the loan

Documents Needed for Individuals (Salaried and Self-employed)


  • 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
  • Income/Banking Proof for Self-employed Professionals/Non Professionals: Computation of income of last 2 years, Balance Sheet, Profit and Loss Account, Registration Certificate, GST Return, Income Tax Challan / Form 26AS / TDS Certificate, IT Assessment, etc.
  • Property related documents

Reference Facts

  • ICICI Bank Website: www.icicibank.com
  • Headquarters: Mumbai, Maharashtra
  • Call Centre Number: 1860 120 7777