What are ICICI Bank home loan prepayment charges?
ICICI Bank does not charge prepayment or foreclosure fees on floating-rate home loans to individual borrowers, as per RBI rules. Fixed-rate loans may carry charges per the sanction letter.
Because prepayment on floating-rate loans is free, it is the most under-used leverage a borrower has: one extra EMI a year on a 20-year loan cuts roughly 3 years off the tenure. The prepayment simulator shows the exact tenure and interest saved for any prepayment amount and frequency you choose.
Keep a small emergency buffer before prepaying aggressively - the money locked into a home loan cannot be borrowed back cheaply.
- Floating-rate prepayment
- Nil (RBI mandate)
- Fixed-rate prepayment
- As per sanction letter
This answer is part of RealtyIQ's home loan FAQ series — rate sheets, eligibility and documentation across 11 partner banks. Every figure on this page is composed from the live listing database or the West Bengal rate sheet that powers the free calculator suite, and it is refreshed when the underlying data changes. If a number here disagrees with a brochure, trust the listing — brochures are marketing, listings are RERA-linked data.