Note: For balance transfer, ICICI may waive processing fees for high-credit-score borrowers.
| Pros | Cons | |-------|------| | Quick approval for existing customers | Processing fee not always zero | | Wide branch & digital access | Spread can be higher than SBI for low scores | | Balance transfer with top-up loan | Customer service sometimes slow for rate reset queries | | Prepayment allowed without charge | Floating rates can rise suddenly with repo hike | housing loan interest rate in icici bank
| Fee Type | Typical Amount | |----------|----------------| | Processing Fee | Up to ₹10,000 or 0.50% of loan amount (negotiable) | | Late Payment Penalty | 2% per month on overdue EMI | | Prepayment Charges | for floating rate loans (RBI mandate) | | Switch from fixed to floating | ₹5,000 – ₹10,000 | | CERSAI & Legal/Technical | As actual (~₹2,000–₹5,000) | Note: For balance transfer, ICICI may waive processing