05 July 2011
ICICI Home Loan Calculators for The NRIs
Since the ICICI bank is one of the reputed banks and they promise of door step guidance regarding home loan procedures and approval the NRIs staying in the UK can consider home loans for purchasing property, land or house in India without many hassles. Online loan calculators and EMI calculators are a boon for today’s borrowers as they can get the idea of the total amount of home loan that they can get , the eligibility criteria for approval of loans and thus increase their chances of getting their home loan approved by the ICICI bank.
As the borrower resides in UK they have to first get conversion rates for the currency there is in dollars. In fact any foreign residing Indian who wishes to apply for loan from the ICICI bank or any other reputed bank they have to first get the conversion rates and on the internet they have access for online conversion calculator where they can instantly calculate the amount from dollars to rupees or in any foreign currency. This foreign exchange calculator can give the exact amount in foreign currency on a click by filling the details.
The eligibility criteria can also be selected by these home loan calculators. Since all the details can be filled the borrower can get the right idea of how much loan they can get and how will the repayment tenure be. The borrower can also select the schedule for repayment of the home loan taken from ICICI bank or any other reputed bank. Fixed rate of interest or floating rate of interest can be selected for repayment of the loan and the borrower can select different options and get the right and comfortable loan repayment schedule.
The ICICI Bank also offers EMI calculator for the UK residing Indians and they can get a correct figure of the amount that they will have to pay every month. Along with the interest charged and other administrative fees the borrower residing in UK can avail a home loan from the ICICI bank. Though all the other factors seem fine the bank does not have any mention of the interest rate with which they will offer home loans to Indians residing in the UK. And this can be got only after enquiring personally from their customer service of the ICICI bank or by e-mailing them on their website.