ICICI Bank Personal Loan for Home Renovation in Delhi NCR through LoanMoney

About ICICI Bank Personal Loan for Home Renovation 

Home is the place where your story generates. All your dreams of making your place into a lovely home can be fulfilled easily through LoanMoney. Start renovating your place a more beautiful one with ICICI Bank Personal Loan for Home renovation. Designing interiors or home improvement can bring lot of hassles such as deposit for the contractor, costs and quality raw materials, hiring an interior decorator/planner and above all, putting your own efforts to make all your dreams come alive in those four walls. But with ICICI Bank Personal Loan for Home renovation through LoanMoney, insufficient funds would no longer be an issue. With the help of ICICI Bank Personal Loan through LoanMoney you can submit your documentation easily for Home Renovation Loans and it will be disbursed quicker, so that you can get your work started smoothly. 

Home Improvement Loan covers- 

• Water-proofing & roofing
• Tiling and flooring
• Plumbing & electrical work
• False ceiling & woodwork (fixed to the building)
• Complete renovation of already owned residential property
• Upgradation
• Repair of your house/flat
• External & internal repairs/paint 

Documentation Required for Home Renovation Loan

• The first document will be the application form for the Loan with photographs.
• Both salaried and self-employed people may be required to submit salary statements.
• You may also need to provide bank statements covering the last 6 months.
• You may be asked to provide Form 16s and IT returns or ITAO documents.
• You must also submit a quotation from your architect on the estimate on how much the renovation is going to cost.
• An address proof will also be required. This can be a drivers license, passports, ration cards, etc.
• In some cases an identity proof may also be asked for which it can be driving licenses, Aadhar cards, passports, phone bills etc.
• Pan cards, driving licenses, Aadhar cards and passports can also be submitted as proof of age, if required. 

Features and Benefits of ICICI Bank Personal Loan

Get a Personal Loan without any security or guarantor with minimum documentation. Loan Disbursement within 72 hours of document submission.

• Interest rate remains unchanged throughout the Loan tenure
• Simple documentation - It can be accessed with minimal paperwork and documentation and doesn’t take much time.
• Quick processing
• Direct credit of the Loan amount through Fund Transfer (FT)

Eligibility and documentation required for ICICI Bank Personal Loan

The eligibility criteria to avail Personal Loan from ICICI Bank Personal Loan  

• Salaried individuals
• Self-employed professionals including businessman, doctors, chartered accountants, etc.
• ICICI Personal Loan eligibility varies in case of salaried and self-employed individuals. Therefore, based upon your employment type, you can check your eligibility for ICICI Bank Personal Loan s. 

Eligibility criteria for Salaried Individuals&nbsp

If the applicant is a salaried individual then the following eligibility criteria will apply 

• The person applying for a Personal Loan from ICICI Bank must be of a minimum age of 23 years and a maximum age of 58 years.
• The person must have a monthly income of Rs.17, 500 or more.
• If the person resides in Delhi or Mumbai then they must have a minimum monthly income of Rs.25000 per month.
• If the person is a resident of Bangalore, Chennai, Hyderabad, Kolkata or Pune then they must have a minimum monthly income of Rs. 20,000 per month.
• The applicant must have a total of 2 or more years of work experience.
• They should also have a minimum of 1 year of work experience with the current employer. 

Eligibility Criteria for Self Employed Individuals and Working Professionals

If the applicant is self-employed then the eligibility criteria for an ICICI Personal Loan will be as follows: 

• The minimum age for self-employed individuals is 28 years old and the maximum age is 65 years.
• In case the applicant is a doctor then the minimum age is 25 years.
• The minimum turnover of the business of the applicant must be, as per audited financial statements, Rs. 40 lakhs in case of non- professionals and Rs. 15 lakhs in case of professionals.
• The minimum profit after tax should be Rs. 2 lakhs for self-employed individuals and proprietors while for non-professionals it has to be a minimum of Rs.1 lakh.
• The person applying for the Loan has to have been in the current business for a minimum of 5 years. In the case of doctors, they need to have been in business for at least 3 years.
• The applicant also needs to have had a relationship with ICICI Bank for a minimum of 1 year. This could be in the form of a savings or current account or even in the form of a Loan that is still being paid or was completed within the preceding 36 months.

Documentation Required for ICICI Bank Personal Loan

List of documents for Salaried

• Proof of Identity:- Passport / Driving License / Voters ID / PAN Card (any one)
• Proof of Residence: Leave and License Agreement / Utility Bill (not more than 3 months old) / Passport (any one).
• Latest 3 months Bank Statement (where salary/income is credited).
• Salary slips for last 3 months.
• 2 Passport Size photographs.
• Proof of residence or office ownership.
• Proof of continuity of business 

List of documents for Self-Employed

• KYC Documents: Proof of Identity; Address proof; DOB proof.
• Proof of Residence:- Leave and License Agreement / Utility Bill (not more than 3 months old) / Passport (any one).
• Income proof (audited financials for the last two years).
• Latest 6 months Bank statement.
• Office address proof.

ICICI Bank Personal Loan Interest Rates

Interest rates charged by ICICI Bank depend on factors like the borrower’s repayment capacity and purpose for funds and are some of the most competitive rates in India. 

ICICI Bank offers the option of repaying a Personal Loan through flexible EMIs, ensuring that repayment doesn’t become an additional financial burden. Read More

Why choose LoanMoney for taking Home Renovation Personal Loan from ICICI Bank

Quick Loan disbursal

When you apply for a ICICI Bank Personal Loan for remodelling your house through LoanMoney, you won’t have to wait for weeks for the money to be transferred into your account; the Loan amount gets credited into your account within 72 to 120 hours (3 to 5 days!). The disbursal time is one of the benefits of ICICI Bank Personal Loan. Therefore, it proves to be a huge blessing for you in case of an emergency. 

Easily Available – Getting ICICI Bank Personal Loan for Home Renovation purpose is not a tough task. ICICI Bank Personal Loan is offered at reasonable interest rates and it is easy and convenient to get Home Renovation Loan from ICICI Bank in comparison get Personal Loan from other Banks or NBFCs

No Agent or Middleman Charges– In order to get Home Renovation Loan from ICICI Bank, you do not have to pay any agent or middleman charges. LoanMoney as your Loan Agency help you to avoid unnecessary delays and expenses.

Unsecured Loan –ICICI Bank Personal Loan is an unsecured Loan. There is no collateral security required in order to get this Home Renovation Loan from ICICI Bank. All that is required is your ability to pay back the money. You are not required to mortgage any of your assets or provide for any kind of guarantee. LoanMoney will try it best to ensure that ICICI Bank become sure of your re-payment ability and ICICI Bank will process the Loan.

Less Processing Time – LoanMoney guarantees that the processing time involved in getting Home Renovation Loan from ICICI Bank is very less.

Minimum Paperwork – LoanMoney ensures that getting a Home Renovation Loan from ICICI Bank does not require verification of any asset or any other kind of proofs and certificates that involve a lot of paperwork.

Schemes and Offers – LoanMoney keeps you updated with special schemes and offers of ICICI Bank for professionals like Chartered Accountants, Doctors and Architects etc.