Needing no introduction, it is a well-known fact that ICICI Bank is India’s largest private sector bank as on date. Promoted in the year 1994 by ICICI Limited, also a behemoth in the Indian banking and financial services (BFSI) sector then, the Bank has grown in leaps and bounds since, firmly cementing its position in the industry.
Expanding its business to include home loans, ICICI Home Finance Company Limited (or ICICI HFC) has made a mark in the sectors of mortgages as well as realty.
Today, ICICI Home Finance Company Limited (or ICICI HFC) has come a long way since inception and is a leader in their own right, offering a wide range of home loan products as well as property solutions.
Built on a legacy of trust, ICICI Bank and HFC offer high levels of customer service and transparency in their processes, making them a preferred partner of choice in a borrower’s search for home loan finance.
ICICI Bank has an extensive network of over 2755 branches in India and also offers its home loan products via its Direct Sales Agent (DSA) network.
Globally, the Bank is present in 19 countries, including India and serves a large NRI borrower base as well.
Let us take a look at the various home loan products available at ICICI to suit every borrower’s needs:
In addition ICICI Bank also offers the below mentioned unique products:
In addition to the traditional practice of contacting the branch either telephonically or by visiting a branch to avail of a home loan, ICICI Bank has launched two new home loan products, with a bid to expand their digital business arm.
The first is Express Home Loans, an Internet-based web portal that provides a sanction upon online submission of a loan application and some basic documentation within 8 hours from application. This facility has been thrown open to both existing as well as non-ICICI Bank customers.
The second development is the iLoans mobile application, which allows the Bank’s existing customer base to apply for a loan at their convenience, 24*7, on their smartphones.
For existing loan account holders, there is online access to your account that allows you to transact at your convenience.
As per data released by ICICI Bank, as at March 31, 2016 the Bank held assets worth Rs. 7,206.95 billion, and the profit after tax was Rs. 97.26 billion.
As of January 2016, the Bank announced that its mortgage business had crossed Rs. 1 trillion in disbursals. This benchmark is the first for an Indian private sector bank. The Bank further stated that their mortgages segment has been steadily increasing and shows a year-on-year growth of about 25 percent, of which 50 percent of home loans are disbursed to existing ICICI Bank customers. The average ticket size (of loan disbursal) stands at approximately Rs. 35 lacs.
For those looking at purchasing their dream home, ICICI Bank offers a comprehensive list of housing projects that have been pre-approved by them, after due diligence. This makes the search for your home faster, simpler and the best of you – you are likely to get a better, safer deal since all the groundwork and checks are done by the Bank using stringent processes and methods.
You can also choose to avail of home loan insurance from the Bank to purchase your prized asset in the unexpected occurrence of an unfortunate event.
For a complete experience, ICICI Home Search on the website www.icicihfc.com (ICICI Home Finance Company Limited) is your one-stop shop for everything related to becoming a proud home owner.