Study And Analysis Of Home Loan Schemes Offered By Different Banks In NCR

Introduction

A roof over one’s head and ground beneath one’s feet count as the bare necessities of life. There’s nothing quite like owning a home, however humble, to give one that warm and glowing feeling. But when one buys a home, one has much more than a feel-good purchase in mind: it’s also a crucial investment decision, perhaps the biggest spending decision of one’s life.

There are ample opportunities today for young salaried investors to plan their moves early and buy a house at the right time — and at the right price. In the process, not only do they fulfil that cherished dream of owning a house, but also put themselves on the path to acquiring property that would meet the needs and aspirations of their growing family, even as it leads to wealth creation. Every individual aspires to own a home. But many either spend a lifetime saving to purchase a house or exhaust money on monthly house rent.

Company Profile

Icici Home Finance Company Limited:

ICICI Home Finance Company Limited was incorporated on May 28, 1999, as a 100% subsidiary of ICICI Personal Financial Services Limited (ICICI PFS). ICICI Home Finance Company Limited was set up with the objective of providing long-term housing loans to individuals and corporate. The company was registered on March 30, 2000, with National Housing Bank (NHB) under the National Housing Bank Act, 1987 in terms of Housing Finance Companies (NHB) Directions, 1989. With effect from May 3, 2002, ICICI Home Finance has become a 100% subsidiary of ICICI Bank Limited.

Overview:

ICICI Home Loans are at present available to customers in 150 cities/towns across the country. Loans are offered for the purchase of new homes, the purchase of resale homes and home improvement. Besides, the company also offers loans for commercial property and loans against existing property. The loans are offered for tenors up to 30 years. The company has also introduced several customer-friendly services such as ‘door-step’ service, ‘know your loan on phone’ facility and ‘ICICI Home Search’ – free property brokerage services.

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