ICICI Bank Mortgage Loan Interest rates in Guntur
| 50,00,000 Above | upto To 50,00,000 | |
|---|---|---|
| Commercial Properties | 9.75% | 9.50% |
| Industrial Properties | 10.50% | 10.25% |
| Residential Properties | 9.25% | 9.05% |
Loan To Value (LTV) For ICICI Bank Mortgage Loan in Guntur
| 50,00,000 Above | upto To 50,00,000 | |
|---|---|---|
| Commercial Properties | 55.00% | 55.00% |
| Industrial Properties | 50.00% | 45.00% |
| Residential Properties | 75.00% | 70.00% |
Features of ICICI Bank Mortgage Loan Guntur
| Type | Features |
|---|---|
| Processing Fee | Upto 1.0% |
| Pre Closure Charges | 2.0% |
| Part Payment Charges | Allowed |
| Min Tenure | 5 Years |
| Max Tenure | 15 Years |
| Min Age | 23 Years |
| Max Age | 60 Years |
| Min Loan Amount | Rs.15,00,000/- |
| Max Loan Amount | Rs.30,00,00,000/- |
ICICI Bank Mortgage Loan Guntur Charges
| Type | Charges |
|---|---|
| Penal Interest | 2% Per Month |
| Duplicate Statement Charges | Nil |
| Insurance Cover | Upto Loan Amount |
| Bounce Cheque Charges | Rs.500/- |
| Switch Variable To Fixed | 0.5% of the principal outstanding |
| Switch Fixed To Variable | 0.5% of the principal outstanding |
| Photocopy Documents | Rs.500/- |
| C I B I L Report Issuance Charges | Rs.50/- |
| Charge For Exchanging E C S Mandate | Rs. 500/- |
| Repayment Schedule Charges | Rs.500/- |
| Loan Re Schedulement Charges | Nil |
| N O C Issuance Charges | Rs.100/- |
Documentation For Mortgage Loan
For Salaried Persons
- Filled Application form
- Identity Proof (PAN CARD)
- Address Proof
- Latest 3 months Payslips
- Job Continuity Proof
- 2 Passport Size colour Photographs
- Co-Applicant identity proof, Address Proof
- Co-Applicant relationship Proof and Photograph
- 6 months Bank Statements
- 3 Post Dated Cheques/ECS Mandate
- Property Related documents
For Self Employed/Professionals
- Filled Application form
- Identity Proof
- Address Proof
- Last 2 years Income Tax Returns
- Professional/Self employed existence proof for more than 3 years
- 2 Passport Size colour Photographs
- Co-Applicant identity proof, Address Proof
- Co-Applicant relationship Proof and Photograph
- 6 months Bank Statements
- 3 Post Dated Cheques/ECS Mandate
- Property Related documents
Identity Proof For Mortgage Loan
- Passport
- Driving License
- PAN card
- Photo credit card (with embossed Signature and last two months statement)
- Banker's sign verification
Age Proof For Mortgage Loan
- PAN Card
- Passport
- License
- School leaving certificate
- Voter card
- Birth Certificate
- LIC policy (only for age Proof)
Address Proof For Mortgage Loan
- Passport
- Telephone bill (BSNL/MTNL)
- Electricity bill
- Title deed of property
- Rental agreement
- Driving license
- Election ID card
- Photo-credit card (with last two month statements)
Income Proof For Mortgage Loan
- Latest salary slip
- Current dated salary Certificate with latest form 16.
- Latest year IT Returns with Tax Audit reports(For Self Employed applicants)
Job Continuity Proof
- Form 16
- Relieving letter
- Appointment Letter (for last two months)
- Last 6 months of VAT/Service Tax returns (For Self Employed Applicants)
ICICI Bank Mortgage Loan FAQ's
About ICICI Bank
The Bank provides a range of commercial banking and project finance products and services, including loan products, fee and commission-based products and services, deposit products and foreign exchange and derivatives products to corporations, middle market companies and small and medium enterprises in India. Its commercial banking operations for retail customers consist of retail lending and deposit taking and distribution of third party investment products. It also offers agricultural and rural banking products.
ICICI Bank Highlights
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Things Keep In Mind While Avail a Mortgage Loan
A mortgage is actually made up of several parts – the collateral you used to secure the loan, your principal and interest payments and insurance.
Since most mortgages last 10 to 15 years of monthly payments, you should understand the how exactly it will works for you.
Type of Collateral You Are Offering
Principal And Interest
The principal is simply the sum of money you borrowed on mortgage.
Interest is what the lender charges you to use the money you borrowed, usually expressed as a percentage called the interest rate.
Principal and interest comprise your monthly payments in a process called amortization, which reduces your debt over a fixed period of time. With amortization, your monthly payments largely go toward paying off the interest in the early years, and gradually reduce the principal later on.
Factors That Affect your Loan Interest Rates
Expert Advice
Best Practices for Mortgage Loan
Things not to do for Mortgage Loan
Mortgage Loans Vs Lease Rental Discounting
| Lease Rental Discounting | Mortgage Loan |
|---|---|
| Lease Rental Discounting (LRD) will be based on the actual rental you are receiving on the property. | Mortgage loans will be provided based on already owned property. |
| There is no restriction on LRD loan usage. It can be used for any purpose. | There is no restriction on mortgage loan usage. It can be used for any purpose. |
| Lease Rental Discounting (LRD) will be provided for max of 10 years, However it depends on the rental agreement Tenure. | Mortgage loans will be restricted to max of 10 years of term, which will be varying from bank to bank in India. |
| Interest rate will be very from 11.00% to max of 15.00% based on the bank to bank. Generally Lease Rental Discounting (LRD) will be fixed interest loans. | Interest rate will be very from 10.5 % to max of 15% based on the bank to bank. Generally mortgage loans will be fixed interest loans. |
| The money received from the LRD will be used for any purpose. There is no end use restriction on the amount. | If the money received from a mortgage loan is used for business purposes, the interest can be claimed as an expense on the balance sheet of the business. |
| Loan can be availed up to max of Rs. 20.0 Cr under Lease Rental Discounting (LRD). | Mortgage Loans can be avail up to Rs. 30.0 Cr based on the type of property and its usage and value of property and eligibility of applicants as per banks norms. |
| There will be pre payment changes will be applicable for Lease Rental Discounting (LRD). This will be vary from 1% to 4% as per bank internal guidelines. | There will be pre payment changes will be applicable for mortgage loans. This will be vary from 1% to 3% as per bank internal guidelines. |
| Part/Pre Payments will be allowed based on the internal policies of the banks for Lease Rental Discounting (LRD). | Part/Prepayment will be allowed as per bank internal policies for Mortgage loans. |
| Lease Rental Discounting (LRD) eligibility depends on the type of tenant and credibility of tenant. | Mortgage loans also avail with the joint eligibility as company and director or blood relatives. |
| Banks can consider 90% of the Lease Rental value as repayment for loan under the Lease Rental Discounting (LRD) . | In Mortgage Loan max of 65% property value can avail as a Loan based on the type of property. |
| You can avail a top loan facility on your Lease Rental Discounting (LRD). | Top up facility will be varying from bank to bank internal guidelines. |
About Guntur
Guntur is the India State of Andhra Pradesh and it is fourth largest city of the state. It is one of the learning centres of the state, it holds historical significance, it is a textile and transportation hub of the country and it also holds agricultural importance because of the production of cotton and tobacco.
The history of Guntur dates back to the 10th century CE. It finds mention in an inscription of the Chalukyan King, Ammaraja.
The city is believed to have been ruled by the Chalukyas for a majority of the time, although there is evidence to suggest that the Nagals also ruled this city over a period of time.Guntur also has an ancient temple by the name of Agasthyaeswara Sivalayam, which is dedicated to Lord Shiva. The temple dates back to the 12th century, has some ancient inscriptions and is believed to have been built by Agastya.
Places To Be Visited In Guntur
Krishna Barrage
Krishna Barrage or Prakasam Barrage lies 18 miles from the city of Guntur. It is constructed over Krishna River all the way connecting Guntur with Krishna District.
Kotappakonda Trikutaparvattam
Originally known as Kondakavuru, this place is famously known as Kotappakonda or Trikutaparvattam meaning three peaked hill which actually lies nearby.ocated nearly 25 miles from the city of Guntur, it offers a panoramic view of majestic hills from any direction. The popular three peaks derive their name from Hindu mythology namely Vishnu, Brahma and Maheswara.
Viswa Nagar
Situated in the south-west part of the city, Viswa Nagar can be easily approached via a National Highway 5 i.e. GNT-Chennai Expressway. The place is renowned for Universal Integration Pillar and Viswayogi Viswamji.Located in the proximity is also Viswayogi Institute of Medical Sciences or VIMS.
Amaravathi
A place situated about 16 miles from Guntur is packed with a famous holy shrine and site of great historic importance. The place itself is named after a renowned temple lying in the area namely Amareswara Swamy which inhabits Swayambhu Linga. Also situated in the vicinity is an ancient Mahachaitya Stupa belonging to 2nd century AD. The most striking feature of the structure is cravings displaying life and teachings of Lord Buddha.
Mangalagiri
Mangalagiri means The Auspicious Hill. This place is one of the 8 important Mahakshetrams (sacred places) in India. The eight places where Lord Vishnu manifested himself. Thotadri is the present Mangalagiri. Lakshmi Devi has done tapas on this hill. That's why it got this name (The auspicious hill). There are three Narasimha Swamy temples in Mangalagiri. One is Panakala Narasimha Swamy on the hill. Another one is Lakshmi Narasimha Swamy at the foot of the temple. Third one is Gandala Narasimha Swamy at the top of the hill.
Kondaveedu
It is Situated on the top of the hill, the fort is source of pure admiration especially for the natural beauty surrounding it. The place also offers an ideal trail for trekking. A group of several temple located at the base of the hillock provides a captivating sight. Kathulabave and Gopunatha Temple are two of the many temples in the area.