You can get an ICICI Bank personal loan for various immediate needs, such as medical emergencies, wedding expenses, online courses, holidaying, and so on. Negotiating with ICICI Bank on the personal loan interest rates depends on various factors. Before you go into the various impacting parameters, let us look into the features of ICICI Bank personal loans. 

Features of ICICI Bank Personal Loans

  • ICICI Bank offers you flexible loan amounts starting from  50,000 to Rs. 25 Lakhs 
  • Loan tenures fall in the range of 12 to 72 months. 
  • ICICI Bank personal loan interest rates range from 10.5% to 19% per annum
  • The loan amount will get disbursed in 3 seconds if the application process is complete and if you are eligible
  • Collateral-free loan. No security is required. 
  • Simple application process.
  • Paperless approval
  • Minimum or zero documentation
  • Pre-approved loan offers are given to select customers
  • The loan application and approval process are digitized and simple. 

When can you negotiate on ICICI Bank Personal Loan Interest Rates?

The following factors will help you to negotiate for better interest rates. 

  • If you have a good credit score, lenders understand that you will repay your loan on time. You will get a better interest rate then.
  • If you have a fixed and guaranteed income, banks will charge a lower rate of interest. 
  • If you are a high-income candidate, you will be eligible to get a better interest rate. 
  • If you have a secured job, you will get a better interest rate. 
  • If you are a government or private sector employee, you will have greater job security compared to the self-employed. Then, you will be eligible for a lower interest rate.