| Scenario | Interest Rate | EMI | Total Interest Paid | | :--- | :--- | :--- | :--- | | Base (Repo 6.50% + Spread 2.35%) | 8.85% | ₹44,400 | ₹56.56 lakh | | RBI Repo Hike (+50 bps) | 9.35% | ₹45,800 (+1,400) | ₹59.92 lakh (+3.36 lakh) | | Improved CIBIL (Spread -20 bps) | 8.65% | ₹43,900 (-500) | ₹55.36 lakh (-1.2 lakh) |
Why does one borrower get 8.40% while another gets 9.00%? ICICI Bank determines the specific "Spread" over the RLLR based on the following factors:
| Period | Benchmark System | Key Feature for ICICI Borrowers | | :--- | :--- | :--- | | Pre-2016 | Base Rate | High transparency but slow transmission of RBI rate cuts. | | 2016–2019 | MCLR (1-year) | Faster reset; ICICI offered rates between 8.35% - 9.10%. | | Oct 2019 – Present | RLLR (Repo Linked) | Instant transmission. ICICI’s RLLR = Repo Rate + 2.40% to 2.65% spread. |
Note: Rates vary based on your CIBIL score, loan amount, and employment type. Borrowers with a credit score of typically secure the lowest advertised rates. Key Features of ICICI Home Loans ICICI Bank Home Loan Interest Rates 2026
