ICICI Bank’s Instant home loan | Fusion - WeRIndia

A home loan is a secured loan. Yet, banks take much time to sanction a loan. If you know your loan eligibility, it will help you seek home loan in that range. You can avail instant home loan for this.

An instant home loan or pre-approved home loan helps save your time as the bank checks your eligibility and sanctions a loan beforehand. Besides, it improves your credibility to the builder. So, you can negotiate for your home as the funds are readily accessible while buying a home. In addition to that, it does not need documents at the sanction stage. It involves quick processing. Compared to conventional home loans, these loans are available at a lower interest rate.

Many banks offer instant home loans. Here are the details of ICICI bank’s instant home loan:

• ICICI bank offers pre-approved or instant home loan exclusively to its customers. Those having a salary account with the bank can avail this facility. The loan amount depends upon the salary amount credited to the bank account.
• Customers can select their home loan offer and pay a discounted processing fee specified. After that, they can download their sanction letter. This sanction letter is valid for six months during which customers can avail the disbursement of the loan.
• Customers need to submit the following documents to avail the disbursement: Property documents, disbursement document, any other documents mentioned in the sanction letter, and documents of co-applicant if they need a higher loan than the pre-approved loan amount.
• If you want to avail an instant home loan of ICICI bank, you can do it through internet banking or mobile app. After log into the internet baking, you can check for customized offers. You can also avail the benefit of Pradhan Mantri Awas Yojana (PMAY) at the time of loan disbursement.

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