ICICI Bank Personal Loan Interest Rates vary between 10.50% per annum, depending on the loan amount, customer’s relationship with the bank, type of corporate/business, and other factors.
Before we decide on availing a Personal Loan from any bank, we also need to compare the other charges that are levied on Personal Loan. In the case of ICICI Bank, some of such charges are as follows:
Interest Rate | Starting @ 10.50% |
Processing Fee | Up to 2.25% of loan amount + GST |
Loan Tenure | 1-6 years |
Lowest EMI Per Lakh | ₹ 1,878 for 6 years |
Prepayment Charges | 5% on principal outstanding + GST |
Charges for swapping the repayment mode | Rs. 500 per transaction + GST. |
Late payment | 24% per annum |
Charges for loan cancellation | Rs. 3,000 + GST |
Charges for EMI bounce | Rs. 400 per bounce + GST |
Also check How to open ICICI PPF Account Online.
Before we decide on availing a Personal Loan from any bank, we also need to compare the other charges that are levied on Personal Loan. In the case of ICICI Bank, some of such charges are as follows:
Additional Info: The PayLater ICICI Bank is an instant digital credit limit for online shopping.
When you decide to avail ICICI Personal Loan, you can gauge different options so that you can pay an affordable and planned EMI. There are many factors which affect the Personal Loan rate of interest, such as:
If you want to get a Personal Loan from ICICI Bank online, follow the procedure mentioned below:
You can also visit any ICICI branch nearby and manually fill the loan application form.
Additional Info: Check ICICI Bank Balance Check Number also.
Top up is an additional loan amount given on top of your existing Personal Loan limit, which can be availed from your bank. You can also avail top-up at the time of transferring the balance Personal Loan amount to a new lending institution. You can avail a top up on your Personal Loan from ICICI Bank if you have a regular and timely repayment track record on your current Personal Loan. Most of the time, the top-up loans are available at a similar rate of interest as that on your running Personal Loan. Presently the interest rate applicable on ICICI Personal Loan top up starts at 11.25%.
Also Check: ICICI CIBIL Score
Banks usually inform their decision on a Personal Loan within 15 days of submitting a loan application. However, some banks provide instant loan offers which can be approved within very few hours or 2-3 days. The turn-around time for ICICI Bank Personal Loan can be around 2 to 3 days.
You can calculate ICICI Personal Loan Rates by using the personal loan interest rate calculators available online.
Banks usually inform their decision on a Personal Loan within 15 days of submitting a loan application. However, some banks provide instant loan offers which can be approved within very few hours or 2-3 days. The turn-around time for ICICI Bank Personal Loan can be around 2 to 3 days.
ICICI Bank offers a Personal Loan at an interest rate of 10.50% per annum with the lowest EMI of Rs. 2,187 per Lakh. Hence, if you are paying an EMI more than this amount then you can opt for balance transfer and then change your loan to ICICI Bank.
ICICI Bank Personal Loans rates range between 10.50%. For salaried account holders it is comparatively lesser than that for other customers or borrowers.
The lowest EMI per Lakh for Personal Loan with ICICI Bank is Rs. 2,187.
The Personal Loan with ICICI Bank has a flexible period of minimum 12 months and ranges up to maximum 60 months.
You can borrow a Personal Loan amount ranging from Rs. 50,000 to a maximum of Rs. 30 Lakhs.
The processing fees for ICICI Bank Personal Loan can be up to 2.25% of the sanctioned loan amount with applicable GST.
Yes, you can add your income or earnings along with the income of your partner or spouse in order to increase your Personal Loan eligibility and capacity to pay the EMIs. It also helps to get a higher Personal Loan amount.
Yes, age is a vital eligibility factor in order to get a Personal Loan from ICICI Bank. You need to be at least 23/28/25 years of age (for salaried/self-employed/doctors respectively) at the time of approval and 58/65 years (for salaried/self-employed and doctors respectively) at the time of maturity of the Personal Loan.
Yes, there are prepayment charges on a Personal Loan from ICICI Bank of 5% of outstanding principal plus applicable GST.
ICICI Bank personal loan interest rates are dependent on the segment to which customer belongs. The rates can be negotiated based on the asset category and location.
Once your loan application is approved, the funds will be credited to your account within three seconds with ICICI Bank’s instant Personal Loan online services.