when you apply for an ICICI Mortgage Home Loan you need to take the following steps given below:

1. Firstly, you need to Visit the nearest branch of ICICI Bank and fill the application form of mortgage loan
2. The second step will be to check ICICI Mortgage Home Loan offer and submit essential documents that will include KYC, Financial, and Property 
3. The Mortgage Home Loan processing is initiated and includes legal and technical verification 
4. The loan eligibility will be checked after which ICICI will provide you with a provisional approval in the form of a sanction letter 
5. Finally, the procedure for mortgage loan disbursement is initiated by ICICI Bank which issues a disbursement cheque 

When you apply for an ICICI Mortgage Loan there are few necessary documents that you need to submit. They are given in the table below:

There are a few reasons why you should select an ICICI Bank Mortgage Loan. They are as follows: 

1. Availability of Mortgage Loan at maximum amount of Rs 5 crore at attractive interest rate 
2. Flexible repayment options 
3. Option of transferring existing Mortgage Loan at attractive interest rates 
4. Maximum loan tenure of 15 years 

After applying for an ICICI Bank Mortgage Loan and submitting all the essential documents, it should take about 7 – 15 days to get a sanction for an ICICI Bank Mortgage Loan.

To secure an ICICI Mortgage Loan you need to have a minimum CIBIL score of 700 above

The minimum Mortgage Loan amount that ICICI Bank provides is 10 lakh. Meanwhile, the maximum Mortgage Loan amount is 5 Crore.

No, it is not mandatory that you have a co-applicant for an ICICI Mortgage Loan. However, having one will only enhance your loan eligibility thereby proving your ‘Creditworthiness’ to your lender.

The rate of interest for ICICI Mortgage Home Loan is floating interest rate which is linked to RLLR ( REPO LINKED LANDING RATE )
Therefore it will reused by the change every time the repo rates gets reused by the regulator

It is always better to possess a record of IT returns for three financial years. Since it enhances your chances of securing an ICICI Mortgage Loan. However, you can still obtain an ICICI Mortgage Loan despite not possessing an income tax return record for three financial years. However, you will need to seek a small loan and also have a good CIBIL score to prove that you are ‘Creditworthy’.

After sanctioning a mortgage loan the ICICI Bank takes about 7 working days to issue a disbursement cheque.

1. Types of ICICI LAP:

   Three types of Loan Against Property (LAP) schemes are provided by the ICICI Bank: 

   1. Loan Against Property Top-up:

      ICICI Bank provides you with a Loan Against Property (LAP) top-up for individuals struggling with a lack of funds for personal or business reasons.  Usually, you will require minimum documentation specifically if you have already taken a LAP previously. 

   2. Loan Against Property for Doctors:

      As per this ICICI LAP scheme designed specifically for doctors, you will get a loan sanctioned at about 75% of property value. Therefore, if you are a doctor and require extra funds for expanding your clinic then, you need to secure ICICI LAP. 

   3. Home Overdraft:

      ICICI also brings to you the LAP Overdraft or OD facility, which allows you to withdraw a specified amount from the loan sanctioned. Besides, in this scheme, the interest rate applies only to the amount you use as funds to fulfill your requirements.