The minimum tenure of a personal loan in ICICI Bank is 12 months while the maximum tenure is 72 months.  ICICI Bank offers flexible loan tenure options. This enables borrowers to repay comfortably. 

ICICI Bank personal loan interest rates range from 10.5% to 19% per annum. Applicants can get a personal loan of up to 25 Lakhs.

Is it possible to pre-close my ICICI Bank personal loan?

You can pre-close your personal loan completely after you have paid at least 12 EMIs. The applicable pre-closure charge is 5% per annum of the sum of outstanding principal plus GST. 

Can I make part payments towards my ICICI personal loan?

Part prepayment is not allowed on ICICI Bank personal loans

What are the options for repaying my ICICI Bank personal loan?

You can prepay your loan through internet banking, mobile banking, Visa powered universal payment wallet, or through the nearest ATM or branch.

What are the pros and cons of opting for long tenure personal loans?


  • You can borrow higher loan amounts.
  • Your EMI amounts will be low.
  • Your foreclosure charges will be reduced after 24 months of paying EMIs. 
  • It helps you build your credit score.


  • You will end up paying a high amount of interest over the tenure of the loan. 
  • Your credit limit will remain exhausted.
  • It will be a financial burden to pay multiple EMIs over a longer period of time. 

What are the pros and cons of opting for short tenure personal loans?


  • They are quick and simple.
  • They have plenty of choices.
  • You can get them even if you have a low credit score.


  • Short tenure loans have higher interest rates.
  • Short tenure loans have higher EMI amounts.
  • They are accompanied by extra charges or penalties.