ICICI Bank Loan Against Property:

Introduction:

ICICI Bank Loan Against Property can be availed for variety of purposes. ICICI Bank Loan Against Property has been successful in providing the much needed financial relief to people for

• Expansion Of Business
• Children Marriage
• Higher Studies Of Children
• Dream Vacation

Why Loan Against Property?

People usually go ahead for this loan for the following reasons.

• It is cheaper to personal loan
• It usually has a longer tenure which makes it affordable for people
• The documentation and approval process is much faster

ICICI Bank Loan Against Property reviews show that the competitive ICICI Bank Loan Against Property Interest rate is the reason for many businesses opting for ICICI Bank Loan Against Property.

ICICI Bank Loan Against Property Interest Rate:

ICICI Bank Loan Against Property rate is specified from time to time and applicable. ICICI Bank Loan Against Property rate can be found from the nearest branch.

ICICI Bank Loan Against Property Eligibility:

ICICI Bank Loan Against Property reviews show that ICICI Bank Loan Against Property eligibility criteria are:

• To avail the ICICI Bank Loan Against Property rate the customer should be the age of 25
• The ICICI Bank Loan Against Property reviews states the secondary holder should be the age of 18.
• A customer availing ICICI Bank Loan Against Property rate should terminate the loan before the age of 65.

Whosoever  is able to meet the ICICI Bank Loan Against Property eligibility criteria is eligible for ICICI Bank Loan Against Property.

ICICI Bank Loan Against Property documentation process is simple and the common documents required are –

• Application form
• Proof of identity
• Proof of address
• Two photographs

Icici Bank Loan Against Property Reviews Shows That Other Documents Required Are:

• Financial Statements Profit and Loss Account, Balance Sheet
• ITR for last 3 years

ICICI Bank Loan Against Property reviews shows that documents required are specific to type of business and more details for documents required are available with the branch. ICICI Bank Loan Against Property reviews show that ICICI Bank Loan Against Property interest rate can be availed for maximum loan tenure of 10 years. The loan can be repaid in easy equated monthly installments through post dated cheques, online EMI payment or direct debit from bank account. The loan can be processed in 7 working days once the documents have been submitted.

Prepayment And Late Fee Charges:

If the loan is paid back before the tenure it is known as prepayment. ICICI Bank charges are 2% to 4%. The late payment charges are 2% per month. Service tax and other taxes are applicable as per the rate prevailing in the market. The maximum and minimum loan amount will depend according to the value of the property as decided by the bank.

ICICI Bank Loan Against Property Tax Benefits:
One can get tax benefits if any according to the Income Tax Act 1961 which varies yearly according to the changes made by the Government.

More details on ICICI Bank Loan Against Property eligibility and ICICI Bank Loan Against Property Interest Rate etc. are on the official site at http://www.icicibank.com/Personal-Banking/loans/home-loan/service-charges.html

Remarks: The interest rate is not mentioned, Maximum minimum loan amount is not given.