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ICICI Bank Personal Loan
Max Tenure
5 yrs*
Best Rate
11.49%*
Processing Fee
999₹*
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Quick Links To Handle Your Personal Loan
ICICI Bank Personal Loans
ICICI Bank offers personal loans at 10.75% per annum onwards for loan tenures of up to 6 years and loan amounts up to Rs. 50 Lakhs. Apply for an ICICI personal loan and fulfill your unrealized dreams.How to Apply for ICICI Bank Personal Loan on CreditMantri.com
Highlights of The ICICI Personal Loans
| Interest Rate | 10.75% to 19% per annum |
| Loan Amount | Upto Rs. 50 Lakhs |
| Tenure | 1 to 6 years |
| Minimum Monthly Salary | Rs. 30,000 |
| Processing Fees | Up to 2.50% of the loan amount |
Comparison of ICICI Bank Personal loan interest rate With Other Lenders
| Lender | Interest Rates | Processing Fees |
|---|---|---|
| ICICI | 10.75% onwards | Up to 2.50% |
| HDFC | 11.00% onwards | Up to 2.50% |
| SBI | 10.30%-15.10% | Up to 1.50% |
| Citibank | 9.99% p.a. To 16.49% p.a. | 0.25% to 3.00% |
| Axis | 10.25% onwards | 1.5% to 2% |
| IndusInd | 11.00% | 2.5% onwards |
| Yes Bank | 10.99% per annum onwards | 2.50% (one-time fee) |
| Shriram City | 11.49% p.a. To 23% p.a. | 2.50% |
Benefits of ICICI Bank Loan
- No restrictions on the fund usage
- No security or collateral required
- Quick disbursal process
- Fixed interest rate
- Flexible tenure
| Criteria | Salaried | Self-Employed |
|---|---|---|
| Age | 23 to 58 years | 23 to 65 years, 25 to 65 years for doctors |
| Net Salary | Minimum monthly income of Rs. 30,000 | Rs. 15 Lakhs for professionals and Rs. 40 Lakhs for individuals who are non-professionals (as per audited financials) |
| Total Work Experience/Business Stability | At least 2 years | 5 years for current business and at least 3 years for doctors. |
| Total Years in Current Residence | At least 1 year | At least 1 year |
| Existing Relationship with ICICI Bank | A minimum of 1 year liability relationship/asset relationship either running or closed in the last 3 year | A minimum of 1 year liability relationship/asset relationship either running or closed in the last 3 years |
Documents Required For ICICI Bank Personal Loans
Salaried:
| Document Category | Required Documents |
|---|---|
| ID Proof | Either of the following:
|
| Address Proof | Either of the following
|
| Photographs | 2 passport size |
Self-Employed:
| Document Category | Required Documents |
|---|---|
| KYC Documents | Either one of the following:
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| Residence proof | Either one of the following:
|
| Income Proof | Any document for income |
| Business Proof |
|
| Income Proof |
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In addition to the above documents, produce all other documents required by the bank.
ICICI Bank Personal Loans Interest Rates And Fees
| Interest rates and fees | 10.75% onwards |
| Processing Fee | Up to 2.50% of loan amount +GST |
| Prepayment Charges | 5% on outstanding principal + GST Nil, if the loan is closed using one’s own funds (For MSME classified borrowers). Any waiver on prepayment charges are applicable if the borrower has paid at least 12 EMIs |
| Loan Cancellation Charges | Rs. 3000 + GST |
| Penal Interest | 24% per annum |
| EMI Bounce Charges | Rs. 400 per bounce + GST |
| Repayment Mode Swap Charges | Rs. 500 per transaction + GST |
How To Apply For An ICICI Bank Personal Loan?
Before you apply for an ICICI bank personal loan, you can know more about it on the CreditMantri website.
Online Apply Through The Bank’s Website
1) On the official website of the bank, click ‘Apply for personal loan now’
2) Enter the loan amount and the tenure
3) Click on ‘Let’s Get Started’.
4) Enter your contact phone number, registered email id, and PAN
5) Check the consent box and you will receive an OTP on your registered mobile.
6) Enter the details asked
7) Upload the necessary documents
8) Submit the application.
Offline
You can also apply for ICICI Personal Loan offline by going to the nearest ICICI Bank branch. Thereafter, fill out the personal loan application and submit it.
Features of ICICI Bank Personal Loans
Some of the features and benefits of ICICI Bank Personal loans are as follows:
- Low interest rate loans: You can avail loans at preferential interest rates throughout the tenure of the loan
- Loan Amount: You can choose loan amounts ranging from Rs. 50, 000 to Rs. 50 Lakhs.
- Multi-purpose Loan: ICICI Bank’s personal loan is multi-purpose in the sense that there is no restriction in the way you can utilize your loan amount. You could use your ICICI Personal Loan for home refurbishing, travel, children’s education, your child’s marriage, a medical emergency, working capital for your business, or any other reason.
- Fixed Rate of Interest: The interest rate is fixed, and is charged on a monthly reducing basis.
- Flexible Tenure Options: You can opt for a loan duration that falls in the range of 12 to 72 months for your personal loan
- Low EMI Amount: EMI amounts start from Rs. 1878 per Rs. 1 Lakh personal loan amount for a duration of 6 years.
- No Collateral Loans: You do not have to provide any collateral or security for your personal loan application.
- Minimal documentation: The documentation is minimal and you can apply for a personal loan with zero or minimum documents.
- Easy Application Process: The application process for ICICI bank personal loans is very easy, completely digital, and quick.
- Quick Disbursement: Once the personal loan application is approved, the loan will be disbursed to your account within 3 seconds.
- Pre-approved offers: ICICI Bank offers instant and paperless pre approved loans for selected existing customers.
- The Entire Process is Digital: The entire process is completely online and you can simply apply for the loan from anywhere.
- There is No Restriction on The End Usage: The personal loan amount can be used for anything as long as it is not being used for anything illegal or unlawful.
- Quick Assistance: ICICI Bank has a sales team that will provide quick assistance to people who have applied for the loan.
Types of ICICI Bank Personal Loans Available
The various types of ICICI Bank personal loans available are as follows:
- Loan For Marriage Expenses: A marriage is often your big day. You will need urgent cash to drive the expenses for your wedding be it venue booking, catering, jewelry, shopping, or guest accommodation. For this purpose, you can go for an ICICI bank personal loan.
- Holiday Loan: If you want to go for your dream vacation, you can avail an ICICI bank personal loan to cover all your travel expenses - Flights, stay, shopping, activities, and other bills. The loan comes with full freedom to choose the desired destination for your travel.
- Home Renovation: Smarten up the look of your home, carry out vital repairs, and get new home furnishings or fixtures for your home. Turn your house into a beautiful and neat home with ICICI Bank personal loan.
- Fresher Funding: You can get a personal loan from ICICI bank with your first salary itself. You can get hassle-free loans of upto Rs. 1,50,000 with ICICI Bank Fresher Funding.
- NRI Personal Loan: Individuals who are working abroad can now apply for NRI personal loans. Various reasons why these personal loans have become popular are:
- Easy documentation
- Quicker processing
- Attractive interest rates
- Loan Duration up to 36 months
- Top-Up Loan: If you need more money to support your ICICI Bank personal loans, then choose top-up loans at competitive interest rates. You can either club it with an existing personal loan or treat it as a separate loan.
- Business Loan: If you are a self-employed professional looking for a loan, then you can apply for an unsecured loan. Apply for an unsecured personal specifically designed for your business with ICICI Bank.
- Pre Approved Instant Personal Loan: Are you looking for an instant personal loan in just a few clicks? Evaluate your eligibility for a pre-approved offer and avail of a personal loan within just 3 seconds.
- Flexicash: You can get short-term instant credit by availing a line of credit overdraft facility and then pay interest on the amount you use and for the period you use it.
ICICI Personal Loan Customer Care
ICICI Bank has efficient personal loan customer care services in place to resolve all queries regarding the ICICI bank personal loan. You can reach ICICI Bank personal loan customer care through the following ways:- Toll-free number: 1860-120-7777
- From your registered Email ID, you can write to customer[dot]care[at]icicibank[dot]com
- You can get in touch through the chatbot Ask iPal on the homepage of ICICI Bank’s website to get your queries resolved.
- You can communicate through SMS. Send an SMS to ‘PL’ to 5676766
ICICI Bank Personal Loan Interest Rates
ICICI Bank offers personal loans at competitive interest rates starting from 10.75%. Factors affecting personal loan interest rates are credit history, your income, your employment type, your relationship with the lender, and your repayment and loan defaults. Apply now and get attractive ICICI Bank personal loan interest rates.ICICI Bank Personal Loan Eligibility
ICICI Bank just like any other lender has set down certain standards for loan approval. To obtain a personal loan from the bank, you should fulfill the ICICI Bank personal loan eligibility criteria, which include age, credit score, number of years in employment, net income, and relationship with ICICI Bank.ICICI Bank Personal Loan Status Check
If you have applied for a personal loan with ICICI bank, you will have to track the status of the application. You can track the ICICI Bank personal loan status by calling ICICI Bank’s toll-free number, 1800 200 3344, by contacting the bank’s branch, via the application form number and the reference number, via the mobile number and the date of birth, or netbanking .ICICI Bank Personal Loan EMI Calculator
If you are planning to take a personal loan from ICICI Bank, use the ICICI Bank personal loan EMI calculator to evaluate the EMI amount payable per month to repay the personal loan. The personal loan EMI calculator is easy to operate. You simply have to enter details like loan amount, tenure, and interest rate. The calculator will evaluate the monthly EMI amount and the total interest payable till the end of the loan period.Conclusion
ICICI Bank thus gives personal loans with attractive interest rates, minimal documentation, and easy eligibility criteria. Apply for an ICICI Bank personal loan with CreditMantri and experience the joy of fulfilling your dreams.
ICICI Bank Personal Loan FAQs
1.What are the minimum and maximum loan amounts?
You can avail of loans ranging from Rs. 50,000 to Rs. 40,00,000. The approval of the loan amount depends on various parameters like your income, credit history, repayment patterns and capacity, your eligibility among various other factors.
2.What are the tenures available?
You can choose from tenures ranging from 12 months to 60 months.
3. I need a personal loan as soon as possible. How much time will it take for my loan to get approved?
If you are found eligible, loans are approved within 72 hours of submission of completed application with the required documentation.
4. Do I have to pledge any collateral in order to secure a personal loan?
No collateral or security is required for obtaining ICICI Bank Personal Loan.
5. I want to prepay my loan. Is it possible, and if so, what are the charges?
Once you have paid 6 instalments, you can prepay the entire loan outstanding. Prepayment charges are 5% of the outstanding loan amount. No part prepayment is allowed.
6. Can I repay the ICICI Bank personal loan early?
Yes. You can foreclose your personal loan by paying the applicable pre-closure charges after you complete six equated monthly installments. At the present, the applicable pre-closure charge is 5% of the outstanding loan amount including the applicable tax.
7. Can I close the ICICI Bank personal loan online?
You cannot pre-close personal loans online therefore, you are required to visit the nearest branch of the bank, where you can pre-close your loan. You can reach the bank through the customer care number.
8. How can I check the balance of my ICICI personal loan?
Go to the official website of ICICI Bank. Log in to your personal loan account by entering the customer ID and password. Click on 'View statement'. You can also download the loan statement for future reference.
Latest & Update Icici Bank Personal Loan News
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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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