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ICICI Bank Home Loan Shifting Advantage

ICICI bank is now trying to increase its presence in home loan segment as HDFC is a clear leader in this segment. Check out below screenhsot which gives you a special offer of 1% of when you shift home loan from another service provider.

ICICI bank home loan new initiative

ICICI Bank Home Loan presents a unique offering where you get 1% Cashback on every EMI for the entire tenure of the loan. That means you can save over  3,50,000 on a home loan of  50 lakh and a tenure of 20 years when you adjust this cash back against your principal.


  • The 1% Cashback saves your money or effectively reduces your home loan tenure.
  • Loan amount:  50,00,000
  • Interest rate: 10.50%
  • Tenure: 20 years
  • Total amount Paid (Principal + Interest) :  1,21,82,880
  • Benefits if Cashback taken: In ICICI Bank account:   1,19,806
  • Adjustment against principal outstanding:  3,63,538

How 1% Cashback Works
1.    Apply for a new home loan or transfer your existing home loan to ICICI Bank
2.    Set Auto debits for the EMIs from your ICICI Bank account
3.    Choose mode

  • Credit to ICICI Bank account or
  • Adjustment against principal outstanding

4.    First Cashback will be credited to your ICICI Bank account only after completion of first 36 EMI months. Subsequently, 1% Cashback will be credited after every 12 EMI months for the EMIs paid in the preceding 12 months


One can check this offer and must work out the pros and cons Mathematically before signing on the dotted line.

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