• Attractive Interest Rates
• No fee on part prepayment
• Insurance options at attractive premium
• Doorstep Service
• Simplified Documentation

You are eligible for a Loan Against Property, if you are

• A minimum age of 25 years
• Employed or self-employed with a regular income
• Owner of a self-occupied property

• You can get a loan of upto Rs 3 Crores
• You can get upto 70% of the value of the property, subject to a minimum valuation criteria. The amount varies depending on the nature of the property and term of the loan that you need
• Your repayment capacity as determined by ICICI Bank, taking into account your age, income, qualification, number of dependents, assets, liabilities, stability/ continuity of your employment/ business and the co-applicant's income.

Yes, you can take a loan against any other property. To know more about loans against property, please contact an ICICI Bank Counselor

Fill in the form given alongside and we will get in touch with you shortly or You can just walk into any of our branches.

Can I avail of fixed or floating rate loan?

You can opt for either the fixed or floating rate loan. In the fixed rate loan, the interest rate is constant throughout the tenure of the loan.

Over how many years can I repay the loan?

You have the option of selecting a term you are comfortable withdrawing

• Upto 15 years for salaried and self-employed professionals
• Upto 15 years for other self employed individuals

How would the value of my property be determined?

The value of your property would be determined through a valuation conducted by ICICI Bank.

Do I need to open an account with ICICI Bank for availing and/ or servicing the loan?

We will encourage you to start a banking relationship with us so that we will be able to offer host of other value added services, which are complementary to the loan, however opening an account with us is not mandatory.

What are the stages involved in taking a loan?

There are three main stages -

• Application – Whereby you submit a completely filled in application with all necessary documents.
• Sanction - Whereby you get an approval for a specific loan amount based on the value of your property and repayment capabilities.
• Disbursement – Whereby the loan amount is transferred.

What are the various products under LAP that ICICI Bank provides?

• LAP – Residential
• LAP – Commercial

Other products offered with property collateral

• Lease Rental Discounting

What is a Monthly Reducing balance?

An Equated Monthly Installment (EMI) has 2 components, interest and principal. When the interest is calculated on monthly rests, the principal on which the interest is charged goes down every month. This results in a significant saving for the customer over the tenure of the loan.

What is an Annual Reducing balance?

An Equated Monthly Installment (EMI) has 2 components, interest and principal. When the interest is calculated on annual rests, the principal reduces only at the end of the year. Therefore, you continue to pay interest on a portion of the principal that you have already actually paid back to the lending company.

When will the loan be disbursed?

Your loan will be disbursed on:

• Submission of the completed application form with a copy of all the documents.
• Legal and technical clearance of the property
• Sanction of the loan amount
• Request for disbursal
• Collection of original property documents

What is an amortisation schedule?

An amortisation schedule is a table giving the reduction of your loan amount by monthly installments. The amortisation schedule gives the breakup of every EMI towards repayment interest and outstanding principal of your loan.

How can I foreclose the loan?

The Loan can be foreclosed by approaching our ICICI Bank Home Loans branch representative, who will give you the working of your foreclosure. Then issue a cheque favoring ICICI Bank, upon clearance of which the documents will be released for that loan.

How long will the whole process of foreclosure take? When will I get my PDCs and documents back after I foreclose the loan?

The whole process from taking the cheque to releasing the documents will take approximately 2 weeks.

What are the charges on foreclosure?

The charges will be as per the rates mentioned in your agreement.