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Early homeownership for salaried professionals

  • Loan amount up to ₹3 crore

  • Enhanced Eligibility based on future income*

  • Tenure up to 20 years

  • Lower initial EMIs

 

 

 

Things you should know

  • Tenure Limit

    Maximum tenure is 20 years.

  • Initial Repayment

    Pay only interest for the first 3–5 years.

  • Secondary Tenure

    EMI includes principal and interest after the primary term.

  • Income Requirement

    The minimum salary required is ₹30,000 per month.

About Step Up Home Loans

What is a Step Up Home Loan?

ICICI Bank Step Up Home Loans come with enhanced eligibility for salaried individual to buy their dream home. You can take Home Loan with easy EMIs in the initial years, which keeps on increasing as your income grows.

How are repayments structured?

There are two phases for repayment, one during the primary term, which is around 3-5 years when you need to only pay the interest component for your Home Loan. In the secondary term, your EMI constitutes the principal as well as the interest component. 

Can I apply for this loan if I have an existing Home Loan?

No, the Step Up Repayment Facility is available only for new loans or Balance Transfers. If you have an existing Home Loan, you cannot apply for this loan.

What is the maximum loan amount I can get?

You can borrow up to ₹ 3 crore under the Step Up Home Loan facility, subject to your income and property value.

FAQs

Who is eligible for Step Up Home Loans?

This loan is available to salaried professionals earning a minimum of ₹ 30,000 per month and employed with select corporates identified by ICICI Bank.

How does this loan offer higher eligibility?

The Step Up Repayment Facility considers your future income growth, allowing you to take up a loan amount up to 20% higher than standard Home Loan eligibility.

Can this loan be used for resale properties?

Yes, Step Up Home Loans can be taken for both new properties and resale transactions. For resale properties or builder purchase completed properties, the primary loan repayment tenure is capped at 3 years.

What happens if I want to make part payments?

During the second tenure, you can opt for part payments after your EMI payments begin. This decreases your principal amount, bringing down your interest payments on the whole.

Can I avail of this loan for under-construction properties?

Yes, the loan is available for under-construction properties, builder purchases and resale properties, offering flexibility in choosing your dream home.

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