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ICICI Bank Personal Loan
Max Tenure
5 yrs*
Best Rate
11.49%*
Processing Fee
999₹*
Currently not available! for similar products
Quick Links To Handle Your Personal Loan
ICICI Personal Loan
ICICI Bank offers personal loans from Rs.50,000 to Rs.50 Lakhs @10.80% p.a. for a fixed tenure of 6 years. The attractive pointers are that it is available for customers with 100% digital and paperless processes with quick disbursal. Some of the highlights of ICICI Bank Personal Loan is that there are exclusive pre-approved offers for elite customers. The bank also encourages balance transfer facility for high interest loans from other banks to ICICI.How to Apply for ICICI Bank Personal Loan on CreditMantri.com
ICICI Bank Personal Loan Highlights
| Particulars | Details |
|---|---|
| Interest Rate | 10.80% p.a to 16.50% p.a |
| Loan Amount | From 25,000 to 50 Lakhs |
| Tenure | 12-72 months |
| Processing Fees | 2% on the Loan Amount |
| Minimum Monthly Salary | Rs. 30,000 per month for salaried people |
| Pre-payment Charges | For Salaried Individuals: 3% of the outstanding loan amount after the payment of the first EMI amount No amount needs to be paid if more than 12 EMIs has been paid. For MSE Classified Customers: Charges are Nil after the payment of 1st EMI for a loan amount up to 50 Lakhs |
| Documentation | Last 3 Months Salary Slips Latest 3 Months Bank Statement Passport/Driving License/Voters ID Card/Aadhar Card |
| ICICI Bank MCLR – 1 Year | 8.50% |
Features and Benefits of ICICI Bank Personal Loan
The following are the list of features that are available for the ICICI Bank Personal Loan.
- Loan Amount ranging from Rs.50,000 to Rs.50,00,000
- Minimal Documentation
- 100% Digital Process
- Attractive Rate of Interest starting from 10.85%p.a.
- Low EMI Amount
- Flexible Tenure of 72 months
- Easy Application Process
- Pre-approved Offers
- No restriction on End Usage of the EMI amount
- No Security/Collateral required
- No preclosure charges after the payment of 12 EMIs
- No Hidden Charges
of ICICI Bank Personal Loan
Personal Contingencies are likely to come up any time in your lives. And the forms can be different. Banks and Financial Institutions understand this imminent need of individuals. ICICI Bank has a set of loans tailored based on the personal contingencies the individuals face. The following are some of the types of ICICI Bank Personal Loans. They are:
- Medical Emergency: ICICI offers Medical Emergency loan at affordable interest rates to pay sudden medical expenses. The entire process is hassle-free with minimal documentation. You can avail the ICICI Personal Loan with easy EMI and Zero collateral. Some of the offerings of this loan include:
- Minimal Documentation Process
- 100% Digital Process
- Attractive Rate of Interest starting @10.80% p.a
- Flexible Repayment Tenure of 12 to 72 months
- Unsecured Personal Loan
- A minimum monthly salary of Rs.30,000 per month is required to ensure that you are capable of repaying the amount.
- 2 years of continuous employment
- Processing Fee: 2% of the loan amount along with GST
- Marriage Expenses: An ICICI Bank Wedding Loan helps you to face memories without financial stress that ensures you and your loved one will have a dream wedding. Some of the offerings of a Wedding Loan include:
- Loan Amount Rs.50,000 to Rs. 50,00,000
- Lower Interest Rate of Interest starting @10.80%p.a.
- Minimal Documentation
- No Collateral Required
- Easy Application Process
- Processing Fee: 2% of the Loan Amount.
- Employees specific Private Limited Companies and Public Sector Undertakings including central, state, and local bodies.
- Continuous employment of 2 years
- Home Renovation: ICICI offers you the chance to transform your living space into a dream home, becoming effortless with these loans. These loans are given so that you can renovate your home according to your taste and aesthetics. Some of the offerings of the Home Renovation loan includes:
- Easy Application Process
- Attractive Interest Rates starting from 10.80% p.a - 16.50% p.a
- Loan Amount Ranging from Rs.50,000 to Rs.50,00,000
- Minimal Documentation
- No Collateral Needed
- Stable Income of Rs.30,000
- Appliances and Gadgets: Staying updated with technology will help in more ways than one. ICICI Bank provides loans to improve and upgrade your gadgets. This ensures you have the requisite tools and devices needed for work and leisure. Some of the offerings of the loan includes:
- Get a personal loan upto Rs.50,00,000
- Flexible Tenure ranging from 1 year to 6 years.
- Rate of Interest starting from 10.80% p.a
- All the other terms and conditions are the same that are available for the other loan types.
- Travel: Plan your dream vacation with ease with the ICICI Bank Travel loan. The hassle-free application process and the low interest rates make the loan much more attractive. Some of the features and the eligibility criteria for the loan includes:
- Loan Amount: 50,000 to 50,00,000
- Residents between the age group of 20 to 58 years old
- Minimum 2 years of experience for salaries or self-employed professionals
- Should have been residing in the present address for more than 1 year.
- Should have a minimum income of Rs.30,000 p.m
- Online Courses: Staying upgraded with the latest technical knowledge has become an impediment to growth in today’s professional world. You need to pursue knowledge through various kinds of online courses.
- Affordable Interest Rates
- Loan Amount between Rs.25,000 to Rs.25,00,000
- Rate of Interest Starting @10.80%.
- Flexible Tenures from 1 to 6 years.
- Instant Personal Loan: Apart from whatever is listed above, ICICI Bank also offers an Instant Personal Loan for their existing customers who have a history of good credit scores. Some of the benefits and features of Instant Personal Loan includes:
- Affordable Interest Rates
- High Loan Amount of Up to Rs. 25,00,000
- Interest Rates Starting @11.25%p.a.
- Loan Tenure ranges from 12 to 72 months
- Processing Fee of 2% of the Loan Amount + GST
- Zero Collateral
Other Types of Personal Loans
Some of the other types of personal loans include
NRI Personal Loan: The applicant for the loan needs to be a resident Indian and the co-applicant NRI needs to be a close relative. Some of the features of the loan are:
- Loan up to Rs.50,00,000
- Tenure Up to 60 Months
- Rate of Interest starting from 10.85%p.a.
- Quick Processing & Disbursal
- Simplified Documentation
- No Security Coverage
- No Hidden Charges
Some of the documents required for a resident indian are:
- Identity and Address Proof
- Last 3 Months Bank Statement
- Resident Proof in the name of the applicant.
Some of the documents required for the NRI applicant should be:
- Passport Copy
- Visa Copy
- Bank Statement
- Official E-mail ID
- Salary Slip or Salary Certificate
- NRE/NRO Bank Statement for 6 months
Business Installment Loan: This loan is given to individuals to expand your business. This loan is given for new equipment purchase, or business upgrading which is repaid in equal installment with fixed intervals. The following is the list of members who fit the eligibility criteria.
- Proprietorship/ Self-employed non-professionals
- Partnership Firms/LLP/ Private Limited Companies
- Unlisted Public Limited Companies
- Self Employed Professionals and Doctors
Note: Loans given to MSE can repay the loan after the first EMI at NIL charges.
The following are some of the features of this Business Installment Loan. They are:
- Loan Upto Rs.50 Lakhs
- No Security/Guarantor required
- Loan Rate Starting from 13.25%p.a to 19.50.p.a
- 2% processing fee on the loan amount
- Maximum Tenure is 60 months
- Convenient Repayment Options
Top-Up Personal Loan: Top-Up loan is an added loan that is given for an already existing loan facility. The new loan covers your impending emergency financial need and is added to your old loan. In this case, you will get a consolidated EMI that covers your entire value. The terms and conditions for this loan is the same as the other loan types.
The other types of loans include the New Personal Loan, Personal Loan Balance Transfer, and FlexiCash. They also carry the same benefits and features of the other loan types.
Eligibility Criteria for ICICI Bank Personal Loan
Securing a personal loan comes with its own set of challenges. One needs to make sure that fulfilling these needs will get them loans at one of the best rates. The following is the list of eligibility criteria that needs to be fulfilled to secure the ICICI Bank Personal Loan. They are:- Over 20 years old
- Must be resident of India
- Salaried Individual with a regular monthly income
- Have a good Credit Score
- Maintain a Salary Account with any of the banks in India
Apart from the general criteria, there are some specific criterion that needs to be fulfilled by Salaried and Non-Salaried Professionals
ICICI Bank Personal Loan Documents Required
The following is the list of documents that are required for the ICICI Bank Personal Loans. They are:
- Salary Slip for the last 3 months
- Latest 3 months bank statement
- Passport/Driving License/Voters ID Card/Aadhar Card
ICICI Bank Personal Loan Processing Fees and Charges
The following are the list of processing fees and other charges that needs to be borne by a ICICI Bank Personal Loan customer. They are:
| Particulars | Charges |
|---|---|
| Processing Fees | Up to 2% of the Loan Amount + the GST |
| Pre-Payment Charges | For Salaried Individuals: 3% of the Loan Amount after the repayment of the 1st EMI and Nil if 12 EMIs or more is paid. For MSE Classified Customers, charges are NIL after the payment of the 1st EMI for loan amount up to Rs.50,00,000. |
| Loan Cancellation Charges | Nil: If the loan is cancelled within 15 days of availing the loan. Rs.2,500 if loan is cancelled after 15 days. |
| Part-Payment Charges | 3% + GST on the part-payment amount for a loan repayment tenure of 24 months. Nil for a repayment tenure of above 24 months. |
| Charges of Late Payment | 5% of the overdue amount till repayment |
| EMI Bounce Charges | Rs. 500 per Bounce + GST |
| Repayment Mode | Rs. 500 per Transaction + GST |
Personal Loan Annual Percentage Rate
The Annual Percentage Rate is a method to calculate annualised credit cost. It includes the rate of interest, processing fee but does not include prepayment charges. This APR calculator is available for Free Download in ICICI Bank website. You need to feed in the Loan Amount, Tenure, Rate of Interest and Processing Fees. It automatically calculates the APR rate and gives to you.
The following are the list of steps that needs to be followed for the ICICI Bank Personal Loan through the mobile.
- Log into iMobileApp of the ICICI Bank.
- Navigate to the Get Instant Loan and click on Apply Now in the Personal Loan section.
- Enter the required loan amount
- Validate the details of the loan
- Accept the Terms and Conditions Check Boxes and click on ‘Disburse Now’.
- Authenticate through the Aadhar-based eSign and click the Submit button.
This provides you with a trouble-free process and ensures loan approval in matter of minutes provided you have satisfied the requisite criteria.
ICICI Bank Personal Loan EMI Calculator
The ICICI Bank Personal Loan EMI Calculator gives an indication of the expected loan EMI that needs to be borne by the customer. You need to key in the loan amount and the tenure, the EMI Calculator will generate the expected EMI, total interest payable, principal amount, and the total amount that will be paid by the customer at the end of the tenure.ICICI Bank Customer Care Numbers
ICICI has a perfect customer care set in place. You can reach out the customer care numbers to get your queries resolved. You can reach the ICICI Bank Customer Care through the following ways.
Customer Care Numbers
- TollFree Number: 1800 1080
- Back-Up Number: 1860-120-7777
Online Service Request:
- Raise a Service Request Online through the ICICI Bank Website
Email Requests:
- For General Enquiries: customer.care@icicibank.com
- For NRI Customers: nri@icicibank.com
Visit ICICI Bank Branch:
- Visit the nearest ICICI Asset Servicing Branch and contact them for personal loan related queries.
WhatsApp Banking
- Get important updates and alerts to the WhatsApp related services.
iMobile App:
- You can also use the iMobile App for any bank related services including loan queries.
ICICI Bank Personal Loan FAQs
1. What is an ICICI Bank Personal Loan?
An ICICI Bank Personal Loan is an unsecured personal loan that can be availed by individuals without any collateral in times of any personal or professional financial crisis.
2. What are the eligibility criteria for the ICICI Bank Personal Loan?
The eligibility criteria for the ICICI Bank Personal Loan includes:
- A salaried or self-employed professional
- Between the age of 21 years to 58 years of age
- Have a minimum monthly income specified by the bank
- A good credit score and a stable income
3. What is the maximum loan amounting an individual can get through the ICICI Bank Personal Loan?
The maximum loan amount available under the ICICI Personal Loan Scheme is Rs.50,00,000.
4. What is the maximum tenure that the ICICI Bank Personal Loan can go up to?
The maximum tenure for the Personal Loan offered by ICICI is 6 years or 72 months.
5. Are there any pre-closure charges that are levied by the bank for the Personal Loans?
A pre-closure charges of 3% of the outstanding loan amount +GST for repayment after 1 month. No pre-closure charges is applicable if you have paid more than 12 EMIs
6. What is the interest rates for the ICICI Bank Personal Loan?
The Interest rate that is available for the ICICI Bank Personal Loan is between 10.85%p.a to 16.65%p.a.
7. Name some of the documents that are required to apply for the ICICI Bank Personal Loan? ema.org/Answer')
Some of the documents that are required to apply for the ICICI Bank Personal Loan includes:
- Proof of identity (Aadhaar card, passport, etc.)
- Proof of address (utility bills, rental agreements, etc.)
- Income proof (salary slips, bank statements, or income tax returns)
- Passport-sized photographs.
Icici Bank Personal Loan - Customer Reviews
Thiyagasivam
good services personal loan
PIYUSH
Ok I am pleased
Namburi
Product offers,good
Vikash Kumar
It is very good scheme and I hv most requirements if land for home .
Mahesh Murthy
"Fully satisfied Got to know about CreditMantri from Facebook! Happiest discovery I made. I was looking for personal loan offers, and obviously I want the low interest rate. I have got the maximum support from CreditMantri and I am happy with that. Through them, got an ICICI personal loan. They provided me with a host of offers. I honestly can’t point out any negatives in their service, as my experience has been smooth till now. No complaints, fully satisfied."
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