Hey, the ICICI home loan top up interest rate lies in the range of 8.70% to 9.55% per annum. I took a top-up home loan last year through the ICICI Bank, so I can share more information regarding this.A But, before I get to that, let me talk a bit about the meaning of a top-up loan.
What is Meant by a Top-Up Home Loan?
Suppose you have an existing home loan. Now, you are eligible for a top-up loan that is added to your already existing home loan. This loan is usually disbursed for renovation or furnishing your home.. I had availed of the top-up loan during the time we wanted to renovate our entire house, and it helped quite a lot to manage the expenses.
But yes, having an existing home loan is not the only criteria you need to be eligible for a top-up loan. You will have to wait for a minimum of one year from the time you took the home loan. And you would want to also know the amount you can gain through the top-up. Just to clarify the top up amount is based on your principal home loan amount. You will find the facility for a top-up loan in the majority of banks in our country.
I hope this information helps you to know the top up loan on home loan ICICI interest rate.
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Some related information: How to get top up home loan in HDFC?Your Feedback Matters! How was this Answer?
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If you already hold a home loan with ICICI Bank and need additional funds, the bank offers a Top-Up Home Loan, an add-on loan over your existing home loan at competitive interest rates. While ICICI home loan top up interest rates are not exactly published in the ICICI Bank’s web page, the typical rates for home loans at ICICI start around 7.65% p.a., depending on your credit score, existing home-loan profile, and the amount involved.
Here are the key features to note:
You must be an existing ICICI Bank home-loan borrower with a good repayment history.
The Top-Up amount may go up to Rs. 1 crore for eligible borrowers.
Tenure options are flexible, often up to 20 years (subject to terms) for the Top-Up.
The additional funds can be used for purposes like home renovation, interiors, education, wedding, or other personal needs.
If you’re an existing ICICI Bank home-loan customer and wish to raise additional funds, the Top-Up Home Loan offers a cost-effective alternative to a fresh loan.
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What is ICICI Home Loan Top Up Interest Rate?
viraj
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2023-12-04T11:41:10+00:00 2023-12-04T11:41:11+00:00Comment
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