ICICI Bank Extra Home Loan (Backed by IMGC)
Primary Lending Institution:ICICI Bank Ltd.
Up to ₹2 Crore home loan at 8.65% – 9.50% with Up to 30 years tenure.
This loan requires the property to be in an approved society/project — self-constructed rural properties often ineligible. IMGC guarantee premium applies.
What is ICICI Bank Extra Home Loan (Backed by IMGC)?
Mortgage guarantee-backed home loan in partnership with India Mortgage Guarantee Corporation (IMGC), allowing up to 20% higher loan eligibility.
Key Benefits & Features
Up to 20% increase in sanction amount; extended repayment tenure up to age 67 for salaried applicants; lower monthly EMI burden.
Property & Project Eligibility Requirements
Approved society apartment or ready-to-move builder floor.
Borrower Eligibility Criteria
Salaried professionals seeking higher eligibility than conventional debt-to-income limits allow.
How to Apply (3 Verified Paths)
Apply online through net banking portal or visit lending branch with loan inquiry.
Apply online at https://www.icicibank.com/personal-banking/loans/home-loan/extra-home-loan with digital KYC and property details.
Visit nearest branch of the institution with income proofs and sale agreement.
Documents Required Checklist
Aadhaar Card, PAN Card, Last 3 months salary slips or 2 years ITR-V, 6 months bank account statement, Title deed, Approved building plan and municipal tax receipts.
Frequently Asked Questions
What is the maximum loan tenure available for ICICI Bank Extra Home Loan (Backed by IMGC)?
The maximum repayment tenure offered for ICICI Bank Extra Home Loan (Backed by IMGC) is Up to 30 years, subject to borrower's age not exceeding 67 years at loan maturity.
What are the processing charges and prepayment rules for ICICI Bank Extra Home Loan (Backed by IMGC)?
The processing fee is 0.50% + GST + Mortgage Guarantee Fee. As per RBI guidelines, zero prepayment penalties apply to all individual floating-rate home loans.
What documents are required to apply for ICICI Bank Extra Home Loan (Backed by IMGC)?
Applicants must provide KYC (Aadhaar, PAN), 3 months salary slips or 2 years ITR with computation, 6 months bank statements, and clear property title documents with municipal sanctions.
Why does ICICI Bank Extra Home Loan (Backed by IMGC) require property approval in a formal layout?
This loan requires the property to be in an approved society/project — self-constructed rural properties often ineligible. IMGC guarantee premium applies.