ICICI Bank NRI Home Loans Interest Rates
ICICI Bank provides loans to Non-Residential Indians also. ICICI Bank NRI Home loans have lots of advantages. Some of the benefits and facilities provided are listed below here.
Benefits of NRI Home loans:
This bank provides excellent guidance for the applicants. This helps the applicant to select a suitable loan type. Moreover, suitable loan amount is also selected. The documentation process is very simple. Facilities like door step delivering of loan papers are also available. Free personal accident insurance is provided. They also provide insurance for home loans at negotiable premiums. Home loans have online application form. Moreover, online tracking facilities are also provided for monitoring the loan status.
Rate of Interest:
There are two types of interest rates. You can select the interest rate as per your wish. This bank provides both floating interest rate and fixed rate. ICICI bank has reduced the floating rate by 0.50%. The PLR rate is also reduced by 0.50%. They have reduced 50 basis points. The floating rate has been reduced from 13.25% to 12.75%. The PLR has been reduced from 15.25% to 14.75%.
Eligibility criteria for applying loan include age, income and residential status. The minimum age required is 21 years. There are two categories of applicants. Self employed applicants and salaried applicants have different and separate rules. The maximum age allowed is 60 years for salaried applicants at the loan maturity time. The maximum age allowed is 65 years for self employed applicants at the loan maturity time. Salaried applicant should have stayed a minimum period of 1 year in abroad. Self employed applicant should have stayed a minimum period of 3 year in abroad.