Loans against properties are an ideal solution to fund any financial needs. It can be used for various expenses. One can make the best benefits out of the funds using them for various purposes and disposing at your own wish. ICICI bank provides loan against property to many individuals who meet the eligibility requirements. These loans are available at an attractive rate of interest. It is incredibly comfortable to opt for these mortgage loan schemes through the official website of the ICICI bank or the bank branch. You can also apply for these loans at loanbaba.com
At loanbaba.com, you can access free-to-use ICICI Bank loan against property EMI calculator, check your ICICI bank loan against property eligibility, compare loan against property interest rates in ICICI Bank. You can apply for loan against property online on ICICI Bank's official website.
Pros for choosing ICICI loans against property
- High monetary value: These loans are of higher amount up to Rs. 5 crore but depend on what price your property stands for and few other factors.
- Tenure: The tenure is another major benefit since the borrowers can repay these loans in 15 years.
- The utility of these loans stands very high since there are no restrictions on what you use the money for.
Features of ICICI loans against property
- These loans are signed against an existing property owned by the borrower or a new property acquired by the owner.
- These loans can be used for various purposes and imply no restrictions. Right from paying for kid’s education to meeting the business expenses, you can use the money as the way you want.
- These loans are available for the salaried as well as self-employed individuals. However, these people should be mandatorily be residing in India.
- These loans have a hassle free application procedure. These can be thus easily applied online.
- The bank has an active team of customer service to provide complete support to the borrowers.
Eligibility criteria
Salaried and self-employed individuals, be it professionals or non-professionals, can opt for these loans. These applicants should know the property that is being mortgaged.
Fee and payments
- These loans apply prepayment fee of 2% before 6 months of the final disbursement. No prepayments charges apply to the final disbursement post 6 months.
- A processing fee of 1% of the loan amount is also applicable.
The interest rates on the ICICI loans against property stand at 12.5% p.a.
Disclaimer : Information is gathered from secondary sources and meant for reference only. Loanbaba is not a channel partner of ICICI Bank.
