Tuesday 26 August 2014

Know all about ICICI Home Loan interest rates in India

ICICI Home Loan Interest Rates

Home is the place where we share our dreams, talks, thoughts and most importantly our lives with our dear ones. It is one

of the precious asset one can possess in his/her life. But sometimes, financial problems or short of funds may lead us to

suppress our dream and move on in a rented house for ever. But, why to do so when we have a solution? Home loan would

give you all the privilege to share your lives with your family in your own home.

                                                  Image Source: icicibank

ICICI Bank has come up with a product called “ICICI Home loans” especially for women borrowers who are the ultimate diva

to build a home. Earlier they used to build their homes with their love and dedication. But, now ICICI Bank home loans will

give them an opportunity to build their homes with the brick of love and emotions. Yes, a special interest rate is offered by

ICICI Bank home loans for the women borrowers.

There are several features in ICICI Bank Home loan which will make you drive with a key to your dream home.

First, let’s discuss about them.

ICICI Home Loan features:

ICICI Home loan interest rates are very attractive and less, especially for women borrowers.

You’ll get a loan tenure up to 30 years.

There is a clear and transparent documentation.

Loan will be provided only for approved projects.

Facility of Balance transfer to a bank offering less interest rates is available.

Facility of taking loan against property is available.

And what more a man desires? ICICI Bank home loan is a full package of features and facilities with less interest rates. Let’s

discuss about ICICI Bank home loan interest rates.

ICICI Bank Home Loan interest rates (offer valid till 31st august 2014):

ICICI Home Loan Interest rates for women borrowers:

ICICI Home Loan Interest rates for other borrowers:

For the amount of home loan less than 75 lacs, ICICI Home loan interest rate is 10.10% (Floating rate).

For Salaried individuals:

For the amount of home loan less than 75 lacs, ICICI Home loan interest rate is 10.15%

(Floating rate).

For the amount of home loan more than 75 lacs, ICICI Home loan interest rate is 10.50% to

11.25% (Floating rate).

For Self-employed individuals:

For the amount of home loan less than 75 lacs, ICICI Home loan interest rate is 10.25%

(Floating rate).

For the amount of home loan more than 75 lacs, ICICI Home loan interest rate is 10.50% to

11.25% (Floating rate).

ICICI Home Loan Interest rates for priority sector lending:

ICICI Home Loan 1 year / 2 year Fixed interest rate:

ICICI Home Loan renewable Fixed interest rate:

For the amount of home loan less than 15 lacs/25 lacs, ICICI Home Loan interest rate is 10.15%

(Floating rate).

For Salaried individuals:

For the amount of home loan less than 75 lacs, ICICI Home loan interest rate is 10.15%.

For the amount of home loan more than 75 lacs, ICICI Home loan interest rate is 10.50% to

11.00%.

For Self-employed individuals:

For the amount of home loan less than 75 lacs, ICICI Home loan interest rate is 10.25%.

For the amount of home loan more than 75 lacs, ICICI Home loan interest rate is 10.50% to

11.00%.

For the initial period of 2 years the FD rates are:

For the amount of home loan less than 75 lacs, ICICI Home loan interest rate is 10.25%.

For the amount of home loan more than 75 lacs, ICICI Home loan interest rate is 10.50% to

11.00%.

Note: All the above rates are valid till 31st

interest rates from time to time.

Therefore, these are the ICICI Home loan rates which are very less and competitive with a lump of facilities that are

irresistible. So, don’t waste your time in thinking, just go grab the opportunity.

For all the information about home loan with the comparison access and EMI calculator, visit www.bankbazaar.com and

apply for your home loan there and then only. Visit now! Your home is waiting for you!

 august, 2014 and are subject to change. Please check the ICICI Home loan

Monday 18 August 2014

Top 5 reasons for drop in 2014 Home Loan EMI

Home Loan EMI

Home is the most precious and expensive asset that we make during our life. With the increasing range of homes in terms of cost, it is really very difficult for the people to get their dream home. And what else you get? A heavy and thrifty burden of EMI’s will make it even more expensive. But, one can manage the drop in Home loan EMI with the few reasons associated with the drop in Home loan EMI’s in 2014. Banks are now more customer centric and have given few options for customers to lower their EMI’s. Let’s discuss the top 5 reasons for drop in 2014 Home loan EMI.

Reasons for drop in 2014 Home loan EMI’s:
1.     Tenure Stretched to 30 years: Recently RBI has announced that there will be an increase in the tenure of Home loan for its repayment. Earlier the Loan repayment tenure was fixed at 20 years but now it has been stretched to 30 years. Because of this, the EMI will be distributed for 30 years and the Home loan EMI will get lower. So, the individuals who do not have much repayment capacity in their pockets can opt for 30 years loan tenure to reduce their burden of heavy EMI’s.
2.     Lowering of Interest rates: Recently many banks have reduced interest rates for their home loans like SBI has made it @10.15% for men and 10.10% for women. Lowering interest rates means that EMI will get reduced as most of your EMI in the initial years comprises of interest amount. Thus, due to lowering of interest rates, Home loan EMI gets reduced.

3.     Balance Transfer option available: Many banks has this option available with them. Balance transfer option means that if some other bank is offering comparatively lower interest rates on their home loan, the person can transfer his/her balance amount of loan to the other bank who is offering lower interest rate, in order to make his/her monthly EMI’s lesser. This can be done by using Home loan EMI calculator where you can calculate the difference or benefit you’ll get in your EMI’s, if you choose for balance transfer in other bank.
4.     Lump sum prepayment option available: Some banks have the option of Lump sum prepayment when you have good amount of cash in your hand. In this option you can prepay lump sum amount towards home loan and continue your home loan with the balance amount for the same tenure. This will reduce the balance amount left for payment and hence, will decrease your amount of monthly EMI’s.
5.     Floating Rate of Interest: This option is pretty much interesting. There are two types of interest rates that you can opt for. One is fixed interest rates which remains same throughout your loan tenure and the other one is floating interest rates which changes with change in the base rate announced by RBI from time to time. Going for a floating interest rate can give you a pleasure of less EMI, if the base rate is reduced by the RBI. Thus, you can get a chance of enjoying lower EMI’s.
Therefore, these are the top 5 reasons or options available with the customers in order to reduce the burden of heavy and high EMI’s. It is our pocket and no one else knows how deep or shallow it is. So, get your EMI’s adjusted at par with your repayment capacity every month. You can do so by using Home loan EMI calculator, which will give you a clear range of your EMI’s on the basis of the amount you are in need of, interest rate and loan tenure.

Get the full access to all the major providers of home loans, compare among them, calculate your EMI’s using Home loan EMI calculator and apply through your home loan on a single screen.