45 Lakh Home Loan ICICI

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ICICI Home Loan of ₹ 45 lakhs enables you to buy or build your dream home. The bank also allows you to use the loan amount to extend or renovate your existing home, making it a more diversified financing option. In addition, eligible applicants can take advantage of competitive interest rates that start from as low as 9.5% p.a. This allows you to buy or build your dream home confidently without worrying too much about heavy EMIs. However, there are certain things you should be aware of before applying for a loan. These include expected eligibility criteria, required documentation, applicable fees, and other related factors.

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Table of Content

1. 45 Lakh Home Loan ICICI Highlights

2. 45 Lakh Home Loan EMI for 10 Years ICICI

3. 45 Lakh Home Loan EMI for 20 Years ICICI

4. 45 Lakh ICICI Home Loan Fees and Charges

5. 45 Lakh ICICI Home Loan Documents Required

6. 45 Lakh ICICI Home Loan Eligibility Criteria

Written By

Hepson Franklin

Hepson Franklin is a seasoned financial expert and accomplished writer specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & loan products. With a wealth of experience in the financial industry, he has established himself as a trusted voice, providing invaluable insights and guidance to both seasoned investors and those new to the world of finance. With a comprehensive understanding of the intricate facets of the financial landscape, he is dedicated to demystifying complex financial concepts for readers of all backgrounds.

Reviewed By

Piyush Bothra

Chief Financial Officer, Square Yards

Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

45 Lakh Home Loan ICICI – Highlights

Let’s take a look at the key parameters of the ICICI ₹45 lakh home loan:

Interest Rates	9.50% – 9.95% p.a.
Loan Amount	Up to 90% of the property price.
Loan Tenure	Maximum 30 years
Eligibility	Both salaried and self-employed individuals are eligible.

45 Lakh Home Loan EMI for 10 Years ICICI

The table below pertains to a ₹45 lakh ICICI home loan for 10 years.

Loan Amount	Interest Rate	Loan Tenure	EMI	Total Interest Payable	Total Amount Payment
₹45 Lakh	9.50% p.a.	10 years	Rs 58,229	Rs 24,87,480	Rs 69,87,480

45 Lakh Home Loan EMI for 20 Years ICICI

The table below showcases the EMI on ₹45 lakh ICICI home loan over 20 years.

Loan Amount	Interest Rate	Loan Tenure	EMI	Total Interest Payable	Total Amount Payment
₹45 Lakh	9.50% p.a.	20 years	Rs 41,946	Rs 55,67,040	Rs 1,00,67,040

45 Lakh ICICI Home Loan – Fees and Charges

Following are the fees and charges associated with an ₹45 lakh ICICI home loan.

Fee/Charge	Amount
Processing Fee	0.75% – 3% of the loan amount + GST
Prepayment Fee	Nil
Default repayment	2% per month + GST
Cheque / ECS /NACH dishonour Charges per transaction	₹ 500 + GST
Copy of original documents	₹ 1000 + GST
Repayment mode swap charges	₹ 1000 + GST
Charges for Amortisation Schedule	₹ 100 + GST
Charges for swap of property	₹ 10000 + GST
Charges for duplicate NOC / No due certificate	₹ 500 + GST
Conversion charges	0.50% on principal outstanding + GST
Charges on account of non-submission of PDC/NACH Mandate Form for EMI payment per transaction	₹ 2000 + GST
Cheque / Repayment Mode swap charges other than PDC to PDC	₹ 500 + GST

45 Lakh ICICI Home Loan – Documents Required

Following are the required documents to avail of an ₹45 lakh ICICI home loan.

Proof of Identity: Aadhaar Card, PAN Card, Passport, Voter ID or Driving License.
Proof of Address: Utility Bills, rent agreement, or ration card.
Proof of Income: salary slips, income tax returns or Form 16, and bank statements for the last six months.
Proof of Employment: Job offer/appointment letter, business proof (Applicable for self-employed individuals)
Proof of Property: Title deeds of the property and construction approvals.

45 Lakh ICICI Home Loan – Eligibility Criteria

Applicants must fulfil certain eligibility criteria while applying for a ₹45 lakh ICICI home loan.

Age: Salaried individuals must be between 20 and 65 years old, whereas self-employed individuals can be in the age range of 21 to 70 years.
Income: Applicants are required to have a minimum salary or income of Rs 25,000 per month.
Credit Score: Applicants must possess a credit score of 700 or above.
Nationality: Applicants must be Indian citizens.

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