ICICI Bank Home Loan: ICICI bank hikes interest rate on home loan: How much your EMI will go up


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

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

If you are an ICICI Bank home loan customer, here’s how much your EMI will go up post this hike.

If the home loan amount taken by you is up to Rs 35 lakh, then interest rate charged on your loan will be in the range of 7.10% and 7.55%. The risk premium depends on your CIBIL Score.

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

Loan Amount (Rs) 35,00,000
Tenure (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

Individuals availing home loan amount above Rs 35 lakh and up to Rs 75 lakh, then interest rate charged on your loan will be in the range of 7.10% and 7.70%. The risk premium depends on your CIBIL Score.

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

Loan Amount (Rs) 50,00,000
Tenure (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 individuals availing home loan amount above Rs 75 lakh, then interest rate charged on your loan will be in the range of 7.10% and 7.80%. The risk premium depends on your CIBIL Score.

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

Loan Amount (Rs) 80,00,000
Tenure (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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