The eligibility for an ICICI Bank personal loan is mainly dependent on your credit score and net monthly income. Though each bank has its own algorithm to calculate how much loan amount can be given to you, it mostly averages to 10-30 times your monthly income. 

The bank looks to restrict your monthly EMI amount to 40-50% of your monthly income. Therefore, if your monthly income is Rs. 50,000, the bank sees whether you can pay a monthly EMI of Rs. 25,000 comfortably. Based on that, you can get a personal loan of up to Rs.15 lakhs with a monthly income of Rs. 50,000. 

But, applicants have to keep in mind that there are other factors affecting your loan amount eligibility. Like – 

  • Your age
  • Your employment type
  • Your existing loans and the EMIs you are paying
  • Your credit card spending pattern and the repayment history
  • Your relationship with the bank

If you are looking for a personal loan with the best interest rates, check out our CreditMantri Personal Loan page for the top 10 personal loans for 2022

You might also be interested to read about Personal Loans For Individuals With Low Income