Credit Score powered by our Bureau Partners

ICICI Bank Personal Loan Interest Rate

ICICI Bank offers personal loans at attractive interest rates, flexible repayment tenures, and minimum processing charges. ICICI Bank personal loan interest rates will vary with the loan amount, loan tenure, and some other factors as well.

ICICI has been a flagbearer for providing personal loans to deserving customers with rates between 10.80% p.a to 16.85% p.a. With these competitive interest rates, ICICI Personal loans are given to individuals with a high credit score, a stable income, and with better repayment capacity. By understanding how these interest rates work, one can make good financial planning besides taking advantage of the lower tenure offerings. You can take advantage of the bank’s digitalized process with quick approval and disbursal.

ICICI Bank Personal Loan Interest Rate – Latest Update (July 2025)

ICICI Bank offers its customers a competitive rate of interest starting between 10.60% p.a to 10.80% p.a. The rates go up to 16.50% p.a to 16.65%p.a for individuals with a low credit score or who fall within the range of high-risk borrowers. The processing fees for the loans is 2% of the loan amount. With a competitive interest rate and flexible repayment tenure up to 72 months, ICICI bank has garnered itself the best choice award for personal loan sectors in the fintech sectors.

ICICI Bank Personal Loan Types & Their Interest Rates

The following are the various types of personal loan schemes available from ICICI Bank. They are:

Flexi Cash:

This personal loan from ICICI is offered to ICICI salary account customers as an overdraft facility to meet some financial contingencies. This particular loan scheme was introduced by the bank to provide short-term credit. This overdraft account is linked with the customer’s savings bank account, giving them the flexibility to draw more cash than the prescribed balance in their account.

Headings	Details
Loan Amount	Up to Rs.10,00,000
Interest Rates	12.35% p.a to 14.10% p.a
Tenure	30 Days
Processing and Renewal Fees	Rs.1,999/- to a maximum of Rs. 2,999/-
Late Payment Fees	Rs. 500 + GST
Penal Charges	5% of the overdue amount

Instant Personal Loan:

ICICI Bank offers instant personal loans to their elite customers with 100% digital process, with instant approval and disbursement. They also fund loans with a few clicks and provide a 100% digital process. You can get funds for your needs in a few clicks

Headings	Details
Loan Amount	Rs. 50,00,000
Interest Rates	10% p.a to 17% p.a
Tenure	5 Years
Processing and Renewal Fees	Up to 2% of the loan amount
Late Payment Fees	Rs.500 + GST
Penal Charges	—

Easy NRI Personal Loan:

The NRI personal loans is given for non-resident Indian with the flexibility and quick approval without any collaterals. The loan tenure is for 6 years with an attractive interest rates of 10.80% to 16.50%p.a. The loan applicant need to be an NRI and the co-applicant a blood-relative of the NRI. The loan is granted to the applicant without any collaterals along with minimal documentation.

Headings	Details
Loan Amount	Up to Rs.50,00,000
Interest Rates	10.80% p.a to 16.65% p.a
Tenure	72 Months
Processing and Renewal Fees	2% of the loan amount
Late Payment Fees	Rs.500 + GST
Penal Charges	3% of the outstanding amount
	Nil after 12 EMIs

Top-Up Loan:

ICICI Bank offers top-up loan facility to some of their existing personal loan holders. Personal Loan holders with good credit score can apply for the loan. They can avail this loan with hassle-free process with minimal paperwork. ICICI Bank ensures that the loan amount is credited to these customers with swift approval and disbursement.

Headings	Details
Loan Amount	Rs.50,000 to 50 Lakhs
Interest Rates	10.60% to 16.50%
Tenure	6 Years
Processing and Renewal Fees	2% of the loan amount + applicable taxes
Late Payment Fees	2% of the EMI amount
Penal Charges	5% p.a on overdue EMI

Fresher Funding:

This personal loan from ICICI is designed for fresh graduates and professionals to fund their initial stages of their career. This personal loan does not except the borrower to have minimum prior experience. This initiative has been taken from ICICI bank to support them and empower them financial confidence.

Headings	Details
Loan Amount	Up to Rs.1.5 Lakhs
Interest Rates	Around 10.75% p.a
Tenure	5 Years
Processing and Renewal Fees	2.5% of the loan amount
Late Payment Fees	5% per annum
Penal Charges

Balance Transfer:

ICICI Bank allows the ability to do a balance transfer for your existing loan in other banks and NBFCs to ICICI bank at a competitive interest rate. The bank offers lower interest rates with reduced EMIs with flexible repayment options. ICICI Bank helps you to reduce the financial burden with improved cash flow.

Field	Details
Loan Amount	Remaining Balance
Interest Rates	Starting @10.50% p.a
Tenure	Up to 6 Years
Processing and Renewal Fees	Up to 2.5% of the loan amount
Late Payment Fees	2% of the EMI amount
Penal Charges	3% to 5% of the Principal Outstanding

Factors Affecting ICICI Personal Loan Interest Rate

The following are some of the factors that are affects the personal loan interest rates. They are:

Credit Score:

The credit score plays a predominant role in determining your ICICI personal loan interest rate. You can also bag a low-interest personal loan with a high credit score and vice versa.

Income:

Lenders rely on your income to decide your repayment capacity. The higher your current income chances of you bagging the lower rate personal loans are higher and vice versa.

Employment Stability:

Individuals working in a reputable private-sector organization might bag in a low-interest rate personal loans compared to self-employed professionals.

Loan Defaults:

Lenders hesitate to give personal loans to individuals who have a loan repayment history. A single default stays on your credit report for more than 7 years and can reduce your credit score.

Lender's Rapport:

Individuals take personal loans only from lenders where their bank accounts are maintained. If you have a good rapport with your banker, chances are bright that you might have a personal loan.

Loan Amount:

The amount of your loan also plays a major role in bagging low-interest loans. The higher the loan amount, the more interest amount, and thereby a more profitable business for the lender.

Longer Tenure:

Longer tenure loans mean extended EMIs and thereby the interest amount earned from these EMIs by the lenders is higher.

Market Conditions:

The prevailing market conditions such as the RBI policy rates, inflation trends and the other economic factors plays a role in deciding the ICICI bank personal loan interest rate.

ICICI Personal Loan Processing Fee & Charges

The following are the interest rates and other charges that come with the personal loan of ICICI bank. They are:

Particulars	Rates
Loan Processing Charges	2% of the loan amount
Repayment Mode Swap Charges	Rs. 500
Loan Cancellation Charges	Nil – If loan is cancelled within 15 days of approval. Rs.2,500 after the colling period
Prepayment Charges	3% of the outstanding principal Nil after 12 EMIs
Part Payment Charges	3% of the prepayment amount + GST Nil after a period of 24 months
Salary Overdraft (Processing Fees)	0.99% of the overdraft amount Minimum of Rs.2,000 and Maximum of Rs.3,000
Duplicate NOC/NDC	Rs.250 for the physical printout at branch
Prepayment Statement Charges	Rs.200 for printout

Tips to Get Low Interest Rate on ICICI Loan

Some of the key strategies to bag a low interest rate ICICI bank personal loan are discussed below.

Maintain a Good Credit Score:

Again, maintaining a good credit score does not earn you a responsible borrower tag line for yourself but also helps you to bag a low-interest rate personal loan.

Leverage Pre-approved Offers:

ICICI bank has the habit of giving pre-approved personal loans to many of its elite and regular customers by giving them a lot of pre-approved offers. These pre-approved offers come with lower interest rates with fast approval.

Choose Short Tenure Loans:

Go in for personal loans that are shorter in duration. These loans though might result in a huge EMI amount but will end up saving on interest amounts on completion of the loan.

Compare Offers:

Always make a comparison between various lenders to round off your loan offer. Make use of the online EMI calculator or talk with the concerned executive to get the most favorable rate.

Borrow Only in Need:

Taking a higher amount personal loan will end up in you struggling to make ends meet. Lower loan amount with better repayment capacity improves your chances of a favorable rate.

EMI Calculation Example (With Table)

EMI Formula: PXR (1+R) ^ N / (1+R) ^ N – 1

Say if the Loan Amount = Rs.5,00,000 Tenure = 5 Years Rate of Interest = 10.80% p.a

Convert the ROI per month = 10.80/100/12 = 0.009

Tenure = 12 x5 = 60 months

EMI Calculation = 5,00,000 X 0.009 (1 + 0,009) ^ 60 / (1 + 0.009) ^ 60 – 1 = Rs.10.791/-

You can also check personal loan emi calculation through Creditmantri's ICICI Personal Loan EMI Calculator

Documents required for ICICI Bank Personal Loan

For salaried individuals

Proof of identity – Passport/driving license/PAN card/Voters ID card (any one)
Proof of address – House agreement/utility bills, not more than 3 months old/passport (any one)
Latest payslips of 3 months
Latest 3 months’ bank statement (of salary account)
2 passport size photographs

For self-employed individuals

KYC Documents - Proof of identity & date of birth proof
Proof of address – for either residence or office - property agreement/license agreement, utility bills not more than 3 months old/passport (any one)
Income proof – audited financials of last 2 years
Latest bank statement for 6 months
Proof of continuity of business

The above is a comprehensive list and the bank might require more documentation on a case to case basis.

Balance Transfer & Top-up facility

One can transfer their existing personal loan with a different lender to ICICI Bank without any hassles. When you transfer your personal loan, ICICI Bank offers you

Attractive interest rate
Minimal documentation for quick and hassle-free transfer
Top-up loan
Increased tenure for a comfortable repayment

Disclaimer: This page includes information that has been compiled from many sources and is only offered for informational purposes. Given this type of data might change over time, we cannot guarantee that the information supplied or included within it, is accurate. It is anticipated that the user would confirm with the relevant source prior to taking any choices or actions.

ICICI Bank Personal Loan Interest Rate FAQs

1. What is ICICI Bank Personal Loan interest rate?

ICICI Bank offers personal loans between 10.80% p.a to 16.85% p.a. This personal loan is based on your credit score, loan amount, income, tenure, and the existing relationship with the bank. Loan applicants with a stronger credit profile and stable income may get lower interest rates.

2. Do salaried and self-employed professionals have the same rate of interest?

Yes. Salaried employees with reputable institutions will get a lower interest rate when compared to self-employed professionals who may not have a stable income.

3. Are there any pre-approved loans available with preferential rates?

Yes. ICICI Bank allows some of its elite customers with pre-approved loans at a preferential rate of interest.

4. How does ICICI Bank determine the interest rates for its personal loan customers?

ICICI Bank makes use of various factors like credit scores, employment stability, loan amount, and repayment tenure as the base to determine its personal loans interest rates.

5. Can you get a lower personal loan rate of interest for a higher credit score?

Yes. You can get lower rate of interest personal loans with higher credit scores.

6. Are there any additional charges that comes with personal loans?

Yes. There are additional charges like processing fees, prepayment fees, and late penalties that comes with personal loans.