ICICI Bank gives loans without collateral up to Rs. 2 crores. ICICI bank provides a variety of loans for various needs. Loans without collateral are unsecured loans and do not need security or guarantee to obtain the loan. Examples are education loans, business loans, personal loans, etc.
Types of loans provided by ICICI bank without collateral –
The below table explains the maximum loan you can obtain in each of the above categories.
ICICI Loans without Collateral
|
Type of loan |
Maximum amount |
Interest Rate |
|
Education loan |
Up to Rs. 50 lakhs |
Starting at 9.5% per annum |
|
Personal loan |
Up to Rs. 50 lakhs |
Starting at 10.75% per annum |
|
Business loan |
Up to Rs. 2 crores |
As per the bank's discretion |
|
The eligibility criterion for ICICI Bank collateral-free loans |
|||
|
|
Education loan |
Personal loan |
Business loan |
|
Age (in years) |
18-35 |
23-65 |
- |
|
Residency status |
Indian |
Indian |
Indian |
|
Income status |
Regular income document of co-applicant |
Minimum Rs. 30,000 |
Bank statement for last 6 months to be submitted |
Education loan is for students and is used for investment in further studies. ICICI Bank education loan typically carries an interest rate of 10.50% per annum.
Personal loan is an unsecured loan and can be used for a variety of purposes like weddings, medical emergencies, house renovation, vacations, etc.
Business loan is to be used for business purposes. It can be used for procuring business-related materials or for the expansion of business.