ICICI Home Finance Launches Affordable Home Loan – Check Eligibility

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Borrowers can go to any ICICI branch with their KYC documents, proof of income and property documents to get the loan offline or visit the website for online application.

ICICI Home Finance (ICICI HFC) launched SARAL – an affordable home loan. This housing loan will be intended to finance housing in urban and rural areas. It was developed for women, lower middle income clients and economically lower sections who have a maximum household income of up to Rs 6 lakhs per year.

This home loan is offered at an interest rate starting at 7.98 percent. As part of the SARAL affordable housing loan, you can opt for a loan of up to Rs 35 lakhs, and for a maximum tenure of 20 years. Additionally, people with pre-existing loans can also transfer their loans to the SARAL Affordable Home Loan from ICICI Home Finance.

For a family income of Rs 3 lakhs to Rs 6 lakhs, the SARAL loan from ICICI HFC requires compulsory ownership of a woman in rural areas of the country. This is done with the aim of encouraging more female owners. In addition, the ICICI SARAL Affordable Housing Loan also offers a special housing loan rate for women and low and middle income people.

SARAL home loan applicants can also benefit from an interest subsidy of up to Rs 2.67 lakhs per house, under the Pradhan Mantri Awas Yojana (PMAY) program until March 31, 2021.

Anirudh Kamani, MD and CEO, ICICI Home Finance, speaking on the SARAL loan, said: “This affordable home loan is a recent addition to our portfolio with the aim of providing user-friendly and affordable financial solutions for those looking to buy. their dream. houses. We look forward to empowering more women across the country to transform from housewives to homeowners with this loan product. “

Borrowers can go to any ICICI branch with their KYC documents, proof of income and property documents to get the loan offline or visit the website for online application.

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