Home Loan repayment for ICICI bank?



Hi All,
I have taken Home Loan from ICICI bank and i want to repay some extra amount in advance coz EMI is slighly higher for me. In such case any idea what procedure to follow?

What % of extra amount will be treated as priciple and interest?

Let say for 20L laon im planning to repay 5L ealry in one shot.

Please guide me in this case.

One Reply to “Home Loan repayment for ICICI bank?”

  1. Hi,

    If you are ready to pay 5L in one go, then there will be a recalculation .In your case it amounts to you asking for a loan of 15L .With this loan of 15L you have two options
    a) You can either reduce the tenure of your loan with same existing EMI .
    b) Or you can reduce the EMI keeping tenure same.

    SInce your case will be (b), the situation now is same as if you have taken a 15L loan for same tenure with same interest rate you had applied for.

    Also this holds if you pay 5L towards principle payment.
    I can see around 4k of reduction in your EMI, but don’t know the tenure so can’t tell exactly how much will it be.





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