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ICICI Bank Home Loan: ICICI Bank Raises Interest Rate On Home Loan: By How Much Your EMI Will Increase


After the Reserve Bank of India (RBI) raised the repo rate in an off-cycle meeting by 40 basis points (100 basis points = 1%) on May 4, 2022, banks started raising rates interest on home loans.

ICICI Bank and Bank of Baroda announced interest rate hikes for their repo-linked home loans the next day, May 5.

If you are an ICICI Bank home loan customer, here is how much your EMI will increase after this hike.

If the amount of home loan you have taken is Rs 35 lakh, the interest rate charged on your loan will be between 7.10% and 7.55%. The risk premium depends on your CIBIL Score.

If your home loan is Rs 35 lakh and the new interest rate applied is 7.10%

Loan amount (Rs) 35,00,000
Term (years) 20
Current interest rate (%) 6.70
Current EMI (Rs) 26,509
New interest rate (%) 7.10
New EMI (Rs) 27,346
Increase in EMI (Rs) 837

People with a home loan amount above Rs 35 lakh and up to Rs 75 lakh, the interest rate applied on your loan will be between 7.10% and 7.70%. The risk premium depends on your CIBIL Score.

If your home loan is Rs 50 lakh and the new interest rate applied is 7.10%

Loan amount (Rs) 50,00,000
Term (years) 20
Current interest rate (%) 6.70
Current EMI (Rs) 37,870
New interest rate (%) 7.10
New EMI (Rs) 39,066
Increase in EMI (Rs) 1196

For people with a home loan amount above Rs 75 lakh, the interest rate applied on your loan will be between 7.10% and 7.80%. The risk premium depends on your CIBIL Score.

If your home loan is Rs 50 lakh and the new interest rate applied is 7.10%

Loan amount (Rs) 80,00,000
Term (years) 20
Current interest rate (%) 6.70
Current EMI (Rs) 60,592
New interest rate (%) 7.10
New EMI (Rs) 62,506
Increase in EMI (Rs) 1914


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