Loan process

Home loan is an important source of finance for buying a home. One must ensure that the home loan is affordable and comfortable to repay. While getting a home loan, the amount and the tenure are two most important decision-making factors.

One must decide on the loan amount considering one’s monthly income, job stability, age, other debts and financial commitments.

Borrowers always want to pay off their loan or debts as soon as possible and opt for short tenure loans. The shorter your tenure, the higher your monthly EMI will be. Longer tenure is generally chosen to enhance the loan eligibility of the borrower but longer the tenure, greater is the cost of borrowing.

Once you have made your decision, you can get a loan in 2 simple steps:

1. Loan sanction

The sanction takes about 3-4 working days. The process is as follows:

  • Step 1Collections of the necessary documents.
  • Step 2Credit appraisal by ICICI Home Finance.
  • Step 3Loan sanction or rejection.
  • Step 4Delivery of sanction or rejection letter.


2. Loan disbursement