ICICI Bank Mortgage Rates & Reviews

This Page's Content Was Last Updated: July 18, 2022
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ICICI Bank Background


ICICI Bank Canada is a subsidiary of ICICI Bank Limited (NYSE:IBN), which is headquartered in Mumbai, India. The parent, ICICI Bank Limited is known for having a large presence in India, in addition to a presence in 17 countries globally. ICICI Bank Canada was established in 2003, and offers a variety of services to clients in Canada, including ICICI Bank mortgages, credit cards, bank accounts, lines of credit, and investment solutions. ICICI Bank Canada offers the ability to transact in person within the GTA, Calgary, and Greater Vancouver Area, with a small branch network. You are also able to transact online, through the ICICI Bank website. ICICI Bank has over $6.5 billion (Canadian Dollars) in assets in Canada, and over $220 billion (US Dollars) in assets globally.

Stock Information:
Listed on the New York Stock Exchange: NYSE: IBN
Best 5-Year Fixed Mortgage Rates in Canada CanadaLeaf
Mortgage Term:

ICICI Bank Fixed Mortgage Rates

An ICICI Bank fixed rate mortgage will provide you with the benefit of having the same ICICI Bank mortgage rate over the length of your term. This means you will not need to worry about the potential of interest rates rising in the future, with rising mortgage rates only affecting you when it comes time to renew your mortgage. ICICI Bank mortgage rates range from 1 to 5 years in term length, meaning you will have access to the most popular terms, which are a 5 year fixed mortgage and a 3 year fixed mortgage. If you are planning on getting pre-approved for a mortgage, ICICI Bank offers you the ability to guarantee your mortgage rate for up to 120 days.

TermICICI RateCanada's Lowest Rate
1-Year Fixed
2-Year Fixed
3-Year Fixed
4-Year Fixed
5-Year Fixed

The rates shown are for insured mortgages with a down payment of less than 20%. You may get a different rate if you have a low credit score or a conventional mortgage. Rates may change at any time. false

Best 5-Year Fixed Mortgage Rates in Canada CanadaLeaf
Mortgage Term:

ICICI Bank Variable Mortgage Rates

The benefit of getting a variable rate mortgage is the ability for you to benefit from a lower ICICI Bank mortgage rate if the prime rate falls. However, if the overnight interest rate rises and the prime rate follows suit, you will be paying a higher mortgage rate. No matter what happens to your mortgage rate and if it rises or falls, your monthly mortgage payment will still remain the same. The only difference is if you are owing more to interest payments, you will be paying less towards your principal balance, and vice versa.

TermICICI RateCanada's Lowest Rate
3-Year Variable
5-Year Variable

The rates shown are for insured mortgages with a down payment of less than 20%. You may get a different rate if you have a low credit score or a conventional mortgage. Rates may change at any time. false

ICICI Bank Mortgage Break Penalty

If you need to break your mortgage agreement, whether that be because you want to refinance, sell your home, or now have all the money needed to pay it off, you will incur a mortgage break penalty. This penalty for breaking a variable rate mortgage will be 3 months worth of interest payments, while the penalty for breaking a fixed rate mortgage will be the greater of 3 months of interest or the Interest Rate Differential amount (IRD). The IRD amount is a common mortgage break calculation, which is the difference between your current mortgage rate and the posted rate with the term closest to the time left on your current term. This difference is then multiplied by the time remaining on your current mortgage.

ICICI Bank Mortgage Prepayment Calculator

Are you looking to pay off your mortgage early? Or refinance the terms of your mortgage at a lower interest rate? Maybe you sold your home. Whatever the case, you most likely will have to pay a mortgage break penalty set by your lender. Whatever the situation, our calculator will help you determine the cost to break your mortgage so you can be confident about your mortgage decisions.


What is the remaining balance on your mortgage?

What is the term-length and type of your current mortgage?

Variable Rate
Fixed Rate

What is your current mortgage interest rate?


If applicable, what was the rate discount you received when you signed your current mortgage agreement?

The day you signed your mortgage, your lender may have provided you with a discount. You may be paying 3.25% but the posted rate on that day was 3.75%, a discount of 0.5%. If you are unaware of any discount, you can skip this step.

When did your current mortgage start?

Who is your current mortgage lender?

What is ICICI Bank's current interest rate for a 3-year fixed rate mortgage?

We have populated this field for you with our most up to date data. For information on why we need this field see Interest Rate Differential
Your estimated mortgage break penalty is...

How is my mortgage penalty calculated?

Remaining Mortgage Balance
Current Mortgage Interest Rate
3-Months Interest
Total Penalty

Contacting ICICI Bank Canada

To connect with an ICICI Bank Canada representative, the phone number toll free is 1-888-424-2422. To get in touch over email with ICICI Bank, you can email at customercare.ca@icicibank.com. Besides getting in touch with ICICI remotely, there are also 7 ICICI Bank locations across Canada, with 5 being in the Greater Toronto Area.

ICICI Bank Canada Locations

CalgaryNortheast Calgary: 145-4851 Westwinds Drive NE
Greater VancouverDelta: 7031-120th Street, Unit 7109
BramptonPeel Village: 1 Bartley Bull Parkway
North Brampton: 4520 Ebenezer Road, Unit 4
MississaugaFairview: 4020 Confederation Parkway
TorontoScarborough: 5631 Steeles Avenue East, Unit #1
North York: 150 Ferrand Drive, Suite 700
This calculator is provided for general information purposes only. WOWA does not guarantee the accuracy of the information shown and is not responsible for any consequence that arise from the use of the calculator and its results. Any financing products shown are subject to terms and conditions and may not be available in certain regions.