ICICI Bank requires a minimum credit score of 750 and above to get a personal loan. You might be eligible for a personal loan with a lower credit score, but the interest rate and other loan terms will not be very favorable to you. 

Getting an ICICI bank personal loan with a bad credit score is difficult. A credit score helps a lender evaluate your repayment ability. A credit score indicates how you have repaid your loans and credit card bills in the past, whether you have made any prepayments, whether you have defaulted, the types of loans you have taken, and what part of your income goes into repaying your loan. 

A high credit score indicates you have paid your loans and credit card bills on time in the past. It shows that you have financial discipline and have not defaulted on your monthly EMI payments or bills. So, higher the credit score ,  you can get a personal loan easily. However, it is not impossible to get a personal loan with a bad credit score. 

How to get a personal loan from ICICI bank if I have a bad credit score?

  • Prove that you can make your EMI payments through your income.
  • Ask for a lower personal loan amount
  • Apply with a co-applicant or a guarantor
  • Rectify  errors in your credit report
  • Speak to your lender in case you have been credit inactive in the last 36 months. He will probably give you the loan at a slightly higher interest rate.

Although it is tough to get a personal loan from ICICI bank if you have a bad credit score, it is not improbable. You can also take steps to improve your credit score after you become aware of the factors affecting your credit score. Do a free credit score on creditmantri.com and take our credit improvement services to help boost your credit score.