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ICICI Bank Mortgage Loan

ICICI Bank Mortgage Loan

Its a loan provided against a collateral. Maximum term can extend up to 180 months.The eligibility criteria depends on property value & type of property like industrial, residential, commercial. Get the best loan against property from ICICI Bank.

ICICI Bank Mortgage Loan Overview

In dire need of a mortgage loan? A lot of questions follow your decision to procure a house mortgage loan in India. Will a get a proper valuation for my house?  What will be the EMI structure? After what time will my house be free hold? Would I get an optimal deal in lieu of my mortgage?
Having a partner bank like ICICI for your mortgage loans, makes sure that most of these questions answer themselves.  A mortgage loan from ICICI Bank makes sure that you get an optimal valuation for your current property and loan amount which is a good indicator of the valuation of the home.

With esteemed bankers being a part of the team at PNL, it is a given that the mortgage deals offered here by ICICI is one of the best ones doing the round currently. The operational team at PNL makes sure that all the paperwork and due diligence in terms of documents submitted make a good case for the speedy disposal of your mortgage loan from ICICI. Call us at +91-11 2593 2593 to know more!

India Loan FAQs

  1. What types of New India Loans are avilable on BankBazaar.com?
    At BankBazaar.com you can get best deals on New-India Personal Loan, New India Home Loan and New India Car Loan. BankBazaar.com can also help you get the best credit card deals.

  2. What are the interest rates for New India Loans?
    Each bank will have different Interest rates. Interest rates will also vary depending on each individual’s eligibility criteria’s and the type of loan. Typically Interest rates for personal loans start at 14.25%. Home Loan Interest Rates start at 10.5% and Car Loan Interest rates start at 10.5%.

  3. How much money am I eligible for?
    You can borrow as much as you can repay. This in banking terms would mean a Loan that has an EMI that does not exceed 40% of your monthly take home income, where the EMIs for existing loans are also deducted.
    For self-employed applicants, profit is the benchmark that determines loan value. The longer the time frame for repaying the loan the lower the EMI and this also means you can opt for a larger loan amount. The loan amount you are eligible for is also dependent on other factors like the company you are employed with, the location of your residence and your credit history.

  4. Can I have a co-applicant for a New India Loan?
    Yes, you can opt for a co-applicant. This can help you increase the loan amount you are eligible for as the income of the co-applicant is also taken into consideration.

  5. What is credit history? How does a financial institution check on my credit history?
    A credit history is basically a record of your past repayments of loans and credit card bills. Also, there is a central bank of data available with the Credit Bureau of India Limited (CIBIL), where data from all the banks on existing loans and their repayment patterns of their customers are accumulated. Before approving your loan a financial institution always checks with CIBIL on your loan repayment track record.

  6. How can I compare quotes from multiple banks?
    One of the easiest ways to do this is to compare online. Find your Loan at BankBazaar.com to gain instant access to the best quotes from various lenders.

  7. What does prepayment charge mean? Does it matter while comparing loans?
    A Loan is repaid to the lender within a fixed time frame, which is usually 1 to 5 years. In case you want to clear the loan payment earlier than the agreed time frame, the bank levies a prepayment penalty charge. This could be up to 5% of the outstanding loan amount but can vary according to the bank and the credit profile of the borrower. Make sure the interest saved by pre-paying exceeds the prepayment fee paid. This is one of the factors to keep in mind while comparing loans.

  8. What is the difference between a fixed interest rate and floating interest rate?
    A fixed interest rate remains constant throughout the loan tenure regardless of the market conditions whereas a floating interest rate can decrease or increase depending on market fluctuations. For instance, it increases when RBI hikes up short term interest rates. Banks usually quote the floating rate loans as their index rate (prime lending rate) plus or minus x%. Banks usually increase or decrease their prime lending rate when the RBI increases or decreases short term interest rates.

  9. Does Bank Bazaar charge me for its services?
    BankBazaar’s services come to you free of charge.

  10. How will the security and privacy of my data be ensured?
    BankBazaar will never share your data with any third party other than the financial institution that you decide to apply to. Our sound technology practices ensure a highly secure environment for all your data.

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Some of the key reasons you should look for your deal with PNL

  1. Bankers head it:  The team at PNL comprises of former bankers who have excelled in their fields. For instance, Tejinder Singh who heads the retail vertical at PNL has earlier won numerous awards and accolades, first at Barclays and then at Kotak Mahindra. The team at PNL knows the entire gamut of loans available and comprise of some of the best people to guide you in your preferred mortgage loans.
  2. The widest range of options available: PNL offers it’s consumers the widest option net available when it comes to selecting your preferred home loans.  Banking Institutions like ICICI, HDFC, Kotak-Mahindra as well as Non Banking Financial Institutions like Bajaj Capital are all partners in this endeavor of ours so as to provide our consumers with all segments of mortgage loans.
  3. Every day lowest interest rates: We are only as good as our loan deals are. To look good ourselves, we have managed to consistently pull down interest rates for our consumers so that they can choose their loan deal as per their situation. No more would high interest rates be a deterrent for you.
  4. The most exhaustive loan deal calculator: Our deal calculators are primed to be the most exhaustive calculators you can come across. With a wide range of banks and rates available, we display a gamut of results for you to choose your mortgage loans in Bangalore from.
  5. Quickest Turn Around Time: Apply for your loan and get quotes in 60 seconds and less. After you apply, our customer service will get back to you in 10 minutes and less.
  6. Your contact details will never be shared:  Your personal details will never be shared with a third party. Period.

Disclaimer: We do not sell or exchange the data of our visitors anywhere. This portal is meant to provide the best deals possible on loans and properties. We would love your suggestions and feedback on any improvements desired in the portal or addition of new services. Please let us know your thoughts by filling in the feedback section on the left of the page.

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