ICICI Home Loan Payment

Digitisation has become an ultimate way to make payments, be it grocery shopping, depositing monthly bills, transacting funds, and much more. Paying loan EMI follows the same league. Major financial institutions offer a wide Range of payment methods for ease of customers from all backgrounds.

ICICI Bank offers various seamless modes of digital payment for paying Home Loan.

How to Pay ICICI Home Loan EMI?

1. Internet Banking

This is one of the easiest and most useful means of paying icici home loan. In case you have missed your EMI, or there are any overdue that need to be cleared, internet banking can help you pay instantly.

Without any troubles, the payment can be made by using these below-mentioned steps:

• Log into your ICICI Bank account
• Once there, choose Payments & Transfer from the menu
• From the dropdown, choose Pay Bills
• Now, enter your details
• Verify them again
• Enter the amount that you have to pay and click Next

Once done, you can check out the success status of this payment in the Complete Transactions tab.

2. ICICI iMobile App

There could be times when you wouldn’t have a laptop along and may want to make the payment instantly. In such a scenario, you can simply download the iMobile app on your smartphone, create your account by entering details and use this app to make home loan payments. Moreover, if you are somebody who misses out on the deadline and then regret later, you can set billing reminders through this app. This way, you would never have to pay overdue and penalties again.

3. UPI Payments

In the current scenario, almost every other person is making use of the UPI payment mode. If you aren’t aware of it, UPIs transfer amount within the blink of an eye. You can download any of the UPI enabled banking apps, such as BHIM, PhonePe, GPay, and more; create your account and UPI ID to continue. And then, to make ICICI home loan emi payments follow below:

• Open the Scan and Pay page of ICICI
• Open your UPI app and enter the loan account number; click verify
• Cross-check all the details on the screen
• Now, put in the amount that you wish to pay
• Click on Generate QR Code
• Open QR code scanner in your UPI app
• Simply put the camera in front of ICICI page’s QR code

Once successful, you will get a confirmation regarding the same. Also, keep in mind that BHIM is only supporting Rs. 10,000 per transaction for now. And, in a day, you can only transact up to Rs. 20,000 per day.

4. ICICI Bank ATM Option

Another useful method that you can adopt to make your loan payment is by using your Debit Card. This one is as simple as withdrawing money from a nearby ATM. Ultimately, you are required to visit your nearest ICICI ATM branch. And there, swipe your debit card. Instead of withdrawing funds, simple click on More options. From there, you can complete your loan payment within a few minutes.

FAQs

1) If I want to repay more than before, can I increase the EMI amount now and decrease it later?

A: Once increased, you cannot further decrease your EMI amount. However, if you wish to repay a surplus amount, you can choose the part pre-payment option.

2) What is the minimum part pre-payment that I can pay?

A: At a minimum, the part pre-payment is equal to the amount that you pay in a month’s EMI.

3) Can I close my home loan before the tenure? Would I have to pay any additional charges for it?

A: Yes, you can close your loan before the tenure. The prepayment charges would be as follow:

• No charges for Home Improvement Loan, Land Loan, and Home Loan with a Floating Interest Rate
• 2% + applicable Taxes on the principal amount (if making the complete repayment) of Home Loan, Home Improvement Loan, Land Loan, and Top Up on Home Loan with a Fixed Interest Rate
• 2% + applicable taxes on the principal amount (if making the complete repayment) of Top Up on Home Loan