Private sector lender ICICI Bank has launched a home loan product that will provide a pre-approved loan of up to ₹1 crore to its salaried customers.
“Instant Home Loan enables pre-approved salaried customers of the bank to avail loans up to ₹1 crore for a tenure of up to 30 years [based on the age of the customer] using internet banking facility,” ICICI Bank said. The bank has also announced another instant top-up loan product which existing home loan customers can avail. Home loan customers of ICICI Bank can avail a top up loan up to ₹20 lakh for a tenure of up to 10 years in a paperless manner.
“ICICI Bank has the largest mortgage portfolio among private sector banks in the country. In 2016, we crossed the milestone of cumulatively disbursing mortgage loans of ₹1 lakh crore. We are on course of touching a mortgage portfolio of ₹2 lakh crore by March 2020,” said Anup Bagchi, executive director, ICICI Bank.
