Wednesday, September 16, 2015

ICICI Bank launches ‘mortgage guarantee’ backed loans for affordable housing sector

‘Mortgage guarantee’ backed loans for retail customers allows a borrower to enhance the loan amount by up to 20% and also provides the option to extend the repayment period up to 67 years of age is launched by ICICI Bank.
  • ‘ICICI Bank Extraa Home Loans’ will be available at the bank’s branches in Greater Mumbai, NCR (National Capital Region), Bengaluru and Surat.
  • Self-employed individuals seeking home loans of a maximum amount of Rs 75 lakh are eligible for this loan, the variant for middle aged, salaried customers is suitable for salaried borrowers up to 48 years of age.
  • Under this facility they can extend their loan tenure till 65 years of age.
  • Young, salaried borrowers up to 37 years of age are eligible to avail a 30-year home loan with repayment tenure running till 67 years of age.

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