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Choosing the ideal Home Loan plan

  • NRIs buying residential property in India

  • Apply online without visiting India

  • Disbursement without visiting India through Power of Attorney

  • Build your dream home in India

Loan EMI Calculator

Loan Amount

Interest Rate

Duration

Disclaimer*: For representation purpose only. Final values may vary subject to bank's policy.

Things you should know

  • Processing Fees 

    A nominal fee applies based on the loan amount

    View Fees and Charges

  • Loan Tenure and Prepayment Charges

    Choose up to 30 years for Home Loans. No prepayment penalty for floating interest rate loans

  • Balance Transfer Facility

    Transfer your existing Home Loan for maximum savings

  • Connect With Us

    Dedicated assistance from ICICI Bank offices in New York ( +1 646 827 8450), California (+1 408 769 4311) and Texas (+1 972 480 6851)

  • Tax Benefits

    NRIs can claim deductions on Home Loan interest and principal repayment (subject to Indian tax laws)

  • Overseas Credit Reports

    Overseas detailed Credit bureau report with score to be downloaded from Experian/Equifax/Transunion. Credit report should not be older than 45 days

About the product

Features of NRI Home Loans

Instant Online Approval: Apply online and get instant provisional sanction *in five steps with the Express Home Loan platform. *T&Cs

Flexible Loan Tenure: Choose a Tenure of up to 30 years for Home Loans, ensuring affordable monthly EMIs.

Diverse Loan Options: Get financing for new property purchases or land for construction of house

Attractive Interest Rates: Benefit from repo-linked interest rates, ensuring transparency and cost-effectiveness.

Convenient Documentation: Upload your documents online for hassle-free processing, reducing paperwork and wait times.

Eligibility Checklist
Criteria Details

Age
  • Minimum: 21 Years
  • Maximum: 65 years or retirement age at loan maturity

Eligible Profiles
  • Salaried: Minimum 1 year of employment overseas
  • Self-Employed: Minimum 3 years in current business overseas

Minimum Income

Country/Employment Type:
-Merchant Navy – USD 24,000 per annum
-GCC – AED 84,000 per annum
-US and other – USD 42,000 per annum

Document Checklist

Document Type

Salaried

Self-employed

Passport-size photo 

Y

Y 

KYC documents:

- Identity: Passport
- NRI status proof: Visa/ Residence Permit/ OCI card
- Communication Address Proof (either Indian or overseas)
- PAN (For NRI: PAN is mandatory, For OCI: either PAN or Form 60)

 

Y 

Y

Income proof: Latest 1 month salary slips

Y

N 

Income proof: Latest 3 months overseas bank statements with salary credit

Y 

N

Business proof: 

- 2 years audited P&L, IT returns
- Business Incorporation documents
- Latest 6 months Business & personal overseas operative bank account statements
- Office Address, Directors list 
- List of director and shareholding pattern (if customer is director in his own company)

N 

Y

Overseas Detailed Credit Bureau Report (not older than 45 days

Y 

Y

For Balance Transfer: Last 1 Year's Bank statement with EMI details

Y 

Y

It is indicative, and additional documents may be needed

FAQs

Can NRIs and OCIs apply for an ICICI Bank Home Loan?

Yes, NRIs, OCIs, and PIOs can apply for Home Loans to buy, construct, or renovate a home in India.

What is the maximum Tenure for an NRI Home Loan?

The maximum tenure up to 30 years for Home Loan, up to 15 years for home improvement loan and up to 20 years for land loan.

Can I get my loan sanctioned without visiting India?

Yes, you can apply online and receive provisional sanction. For final disbursement, a POA can be executed overseas.

What documents are required for salaried NRIs?

You will need a passport, visa, address proof, income proof (salary slips, bank statements), and an overseas credit report.

Is there a prepayment charge for NRI Home Loans?

No prepayment charges apply for floating interest rate loans.

Can an NRI or Resident Indian be a co-applicant for an NRI Home Loan?

Yes, both NRIs and Resident Indians can be co-applicants.

Is PAN card mandatory for NRI/OCI?

For NRIs, PAN is mandatory. For OCIs, either PAN or Form 60.

Is Aadhaar mandatory for NRI/OCI?

No, Aadhaar is not mandatory, but it can be used as address proof if available.

How do I calculate my eligibility for a Home Loan as an NRI/OCI?

You can use the eligibility calculator for precise information.

Do I need an NRE/NRO account?

ICICI Bank NRE/NRO account is required for repayment.

Can post-disbursement services be availed online?

Yes, many post-disbursement services can be availed digitally via NLI portal.

 

 

*T&Cs. ICICI Bank offices in the U.S. do not process, approve and disburse any loans.

Disclaimer

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