ICICI Personal Loan Details

Following are some important ICICI Personal Loan details:

Loan amountUp to Rs. 20 Lakhs
Rate of interest10.5% - 19%
TenureUp to 60 months
Lowest EMI possibleRs. 2,187 Per Lakh
Processing feeUp to 2.25% + GST

ICICI Personal Loan Features

The features of ICICI Bank Personal Loan are mentioned below:

  • Loan amount: Maximum Rs. 25 Lakhs
  • ICICI Bank Personal Loan Interest Rates vary between 10.5% and 19% per annum
  • Repayment tenure: Up to 72 months
  • Lowest EMI possible: Rs. 1,878 Per Lakh
  • Balance transfer facility available

ICICI Personal Loan Charges

Apart from ICICI Personal Loan Interest Rate, you will also have to pay the following fees and charges for the loan:

  • Processing fee: Up to 2.25% of the sanctioned loan amount + GST
  • Prepayment charges: 5% on principal outstanding + GST
  • Additional interest levied on late payment: 24% per annum
  • Charges for swapping repayment mode: Rs. 500 per transaction + GST
  • Charges for loan cancellation: Rs. 3,000 + GST
  • EMI bounce charges: Rs. 400 per bounce + GST
  • Auto-debit bounce charges: Rs. 50 + GST

Documents Required for ICICI Personal Loan

Below are the Documents Required for ICICI Personal Loan:

ICICI Bank Documents Required by Salaried Applicants:

Type of DocumentsSalaried Individuals
Identity Proof

Any one of:

  • Passport
  • Voter ID
  • PAN Card (Mandatory)
  • Aadhaar Card (Mandatory)
  • Driving License
Residence Proof

Any one of:

  • Leave & License Agreement
  • Utility Bills (not more than 3 months old)
  • Passport
Income Proof
  • Latest 3 months' Bank Statement (where salary/income is credited)
  • Salary Slips for the last 3 months
Photographs
  • 2 Passport Size Photographs

ICICI Bank Documents Required by Self-employed Applicants:

Type of DocumentsSelf-Employed Individuals
KYC Documents
  • Proof of Identity
  • Address Proof
  • Date of Birth Proof
Residence Proof

Any one of:

  • Leave & License Agreement
  • Utility Bills (not more than 3 months old)
  • Passport
Income Proof
  • Income proof (audited financials for the last two years)
  • Latest 6 months Bank statement
Other Documents
  • Office Address Proof
  • Proof of Continuity of Business

ICICI Bank Documents Required by Self-employed Applicants:

Type of DocumentsSelf-Employed Individuals
KYC Documents
  • Passport copy
  • Visa copy
Income Proof
  • Bank statement
  • Salary slip/ salary certificate
  • NRE/ NRO bank statement for the last 6 months
Other Documents
  • Official e-mail ID or HR e-mail ID

ICICI Personal Loan Eligibility Criteria

You will have to meet the following eligibility criteria for ICICI Bank online personal loan:

→ ICICI Personal Loan Eligibility for Salaried

  • Age: 23 years - 58 years
  • For an ICICI Bank instant loan, you must have a minimum net monthly income: Rs. 30,000 (depends on the employer type, relationship with ICICI Bank, etc.).
  • Total years in job or profession: Minimum 2 Years
  • Years stayed in current residence: Minimum 1 year

→ ICICI Personal Loan Eligibility for Self-employed

  • Age: Minimum 28 years for self-employed individuals and 25 years for doctors. The maximum age should not be over 65 years for ICICI instant loan.
  • Minimum turnover: Rs. 40 Lakhs for non-professionals and Rs. 15 Lakhs for professionals (as per audited financials).
  • Minimum profit after tax: Rs. 2 Lakhs for proprietorship firms/ self-employed individuals and Rs. 1 Lakh for non-professionals (as per audited financials).
  • Stability in current business: Minimum 5 years (3 years for doctors)
  • Minimum existing relationship with ICICI Bank: 1 year liability relationship (current/ savings account) or asset relationship (loan) either active or closed in the last 36 months. The repayment track must be clean.

Types of ICICI Personal Loans

ICICI Bank provides different types of Personal Loans to cater to the diverse requirements of customers and fulfil their needs. 

Wedding Loan

This ICICI instant personal loan can be availed of for funding wedding expenses, such as venue booking, catering, shopping, guest accommodation, jewellery, and so on.

  • Interest rate: 10.50% p.a. onwards.
  • Loan amount: Rs. 50,000 to Rs. 25 Lakhs.
  • Tenure: 12 to 72 months.

Holiday Loan 

This ICICI personal loan can be availed of for funding vacation-related expenses, such as booking flight tickets, hotels, travel packages, shopping, etc.

  • Interest rate: 10.50% p.a. onwards.
  • Loan amount: Rs. 50,000 to Rs. 25 Lakhs.
  • Tenure: 12 to 72 months.

Home Renovation Loan

This ICICI Bank loan covers expenses like getting new fittings, fixtures and furniture for your home, or any repair work. 

  • Interest rate: 10.50% p.a. onwards.
  • Loan amount: Rs. 50,000 to Rs. 25 Lakhs.
  • Tenure: 12 to 72 months.

Top-Up Loan

Customers who have already availed of ICICI Bank loans can opt for a top-up loan from the bank to meet their incremental financial needs.

  • Interest rate: 10.50% p.a. onwards.
  • Loan amount: Rs. 50,000 to Rs. 25 Lakhs.
  • Tenure: 12 to 72 months. 

Fresher Funding

ICICI Bank Fresher Funding offers personal loan up to Rs. 1.5 Lakhs for freshers on the basis of the first salary without any hassles for catering to an urgent small financial need.

  • Interest rate: 10.50% p.a. onwards.
  • Loan amount: Up to Rs. 1.5 Lakhs.
  • Tenure: 12 to 72 months.

Personal Loan for NRIs

ICICI Bank also offers Personal Loan for Non-resident Indians (NRI) to help them fulfil all needs, be it a dream wedding or renovating a home.

  • Interest rate: 15.49% p.a. onwards.
  • Loan amount: Up to Rs. 10 Lakhs.
  • Tenure: Up to 36 months

If you want to avail of any of the above-mentioned ICICI personal loan apply online instantly through our website.

How to Apply for ICICI Personal Loan?

You can Apply for ICICI Bank Personal Loan Online through MyMoneyMantra by following the steps mentioned below:

  • Click on the Personal Loan link under the Loans section on MyMoneyMantra's official website.
  • Enter your personal details and information regarding the loan required.
  • Accept the terms & conditions.
  • Enter the OTP that you have received on your mobile number.
  • Select ICICI Bank as your loan partner.
  • Soon you will get a call from our personal loan specialists.
  • Keep your documents ready for pickup.

Apply ICICI Personal Loan Offline

You can also apply for ICICI Personal Loan offline by visiting the nearest ICICI Bank branch and filling and submitting the personal loan application form.

How to Calculate ICICI Personal Loan EMI?

You can calculate the EMI for ICICI Bank instant personal loan using the EMI Calculator available online on ICICI Bank’s website or through our online personal loan EMI Calculator. This free-to-use tool gives out instant EMI calculations results using a combination of three parameters, i.e. the loan amount, interest rate and repayment tenure.

Below is an example of ICICI Personal Loan EMI Calculation using MyMoneyMantra Personal Loan EMI Calculator.

Example:

Loan amount required: Rs. 25 Lakhs

Tenure of repayment: 6 years

Rate of interest applicable: 10.50% p.a.

EMI to be paid each month: Rs. 46,947

Total interest outgo: Rs. 8,80,215

Total amount to be paid to the bank: Rs. 33,80,215

Amortization schedule for the above example

YearOpening balanceTotal amount to be pPaid during the year (EMI*12)Total interest paid during the yearPrincipal paid during the yearClosing balance
1Rs. 25,00,000Rs. 2,81,685Rs. 1,27,921Rs. 1,53,764Rs. 23,46,236
2Rs. 23,46,236Rs. 5,63,369Rs. 2,30,645Rs. 3,32,724Rs. 20,13,512
3Rs. 20,13,512Rs. 5,63,369Rs. 1,93,977Rs. 3,69,392Rs. 16,44,120
4Rs. 16,44,120Rs. 5,63,369Rs. 1,53,269Rs. 4,10,100Rs. 12,34,020
5Rs. 12,34,020Rs. 5,63,369Rs. 1,08,075Rs. 4,55,295Rs. 7,78,725
6Rs. 7,78,725Rs. 5,63,369Rs. 57,899Rs. 5,05,470Rs. 2,73,255
7Rs. 2,73,255Rs. 2,81,685Rs. 8,429Rs. 2,73,255Rs. 0

How to Check Your ICICI Personal Loan Statement?

You can download your personal loan statement through the following steps:

  • Visit the ICICI Bank’s official website
  • Click on ‘Get in Touch’
  • Select ‘Service Requests’
  • On the page that opens, select ‘Personal Loan Related’ under the ‘Loans’ menu
  • Click on ‘Request for Statement of Loan Account’
  • Now, login with your User ID and password or your registered mobile number and OTP
  • The bank’s personal loan statement will be displayed

ICICI Bank Personal Loan Application Status

You can easily track ICICI Personal Loan application status online through the bank’s online tracker by clicking here: https://loan.icicibank.com/asset-portal/my-applications-login. 

Enter the following details to track your status:

Mobile Number, Date of Birth, and OTP OR Mobile Number, Application Number, and Date of Birth.
If you are looking for the ICICI bank personal loan apply online through MyMoneyMantra. 

ICICI Personal Loan Comparison with Other Lenders

Name of LenderRate of Interest (per annum)Processing Fee
SBI9.60% - 15.65%Up to 1.50% + GST
ICICI Bank11.25% - 21%Up to 2.25% + GST
HDFC Bank10.75% - 21.30%Up to 2.50% + GST
Bank of Baroda9.85% - 15.45%Up to 2% 
Yes Bank13.99% - 16.99%Up to 2.50% + taxes
Axis Bank10.49% - 24%Up to 2% + GST

ICICI Personal Loan Customer Care

ICICI Bank houses a reliable customer care facility for its customers. The customer care comes with high efficiency to answer Personal Loan related queries 24x7. Applicants can even get in touch with the zonal heads of different zonal offices and express the concern regarding ICICI Personal Loan. Alternatively, visit the ICICI Bank branch and sent an email to the bank with your query or complaint details. For any unresolved query, you may dial 1800 200 3344 between 9 a.m. to 6 p.m. from Monday to Friday.

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ICICI Bank Personal Loans FAQs

✅ How much time does ICICI Bank usually take to approve a Personal Loan?

ICICI Bank provides approval within 72 hours, which begins from the submission of complete documentation.

✅ Can I foreclose my ICICI Personal Loan?

Yes, you can foreclose your ICICI Personal Loan by making a full prepayment of your Personal Loan after your 1st instalment. But, you will be required to pay standard pre-closure charges of 5% + GST. Part prepayment in case of ICICI Bank is not allowed. You can also visit the ICICI Bank branch for the prepayment of your Personal Loan.

✅ What are the prepayment charges for ICICI Personal Loan?

The prepayment charges for ICICI Personal Loan is 5 % annual of the amount of principal outstanding loan + GST.

✅ What are the Personal Loan processing fees charged by ICICI Bank?

ICICI Bank charges up to 2.50% of the amount of the loan + GST as a processing fee for its Personal Loan.

✅ What are the interest rates levied by ICICI bank on Personal Loans?

ICICI Bank Personal Loan interest rates vary from 10.50% to 19% per annum. Interest rates tend to vary depending upon several factors like CIBIL Score, monthly income, age, and so on.
 

✅ What is and maximum Personal Loan amount offered by ICICI Bank?

ICICI offers loan amount up to Rs. 25 Lakhs. 

✅ What are the minimum and maximum tenure available to repay ICICI Bank Personal Loan?

ICICI consumer finance loan or ICICI Personal Loan tenure ranges between 12 months to 72 months.
 

✅ Is any collateral or security required to avail ICICI Personal Loan?

No collateral or security is required to avail ICICI Bank Personal Loan.

✅ Is there a top-up loan option available under the ICICI Bank Personal Loan?

Yes. The top-up Personal Loan can be easily availed any time after the repayment of the first 12 EMIs. Top up Personal Loans are available with minimal formalities.

✅ Can I repay my personal loan early ICICI?

Yes you can prepay (in full) your ICICI bank personal loan after the payment of 12 EMIs at a charge of 5% principal outstanding + GST.

✅Is there any student loan offered by ICICI?

Yes, the student loan ICICI offers comes under the ICICI Bank Education Loan scheme. You can get up to Rs. 1 crore at interest rate starting from 9.50% p.a. under the scheme.

✅How to apply for an ICICI Bank personal loan easily?

If you want an ICICI Bank loan apply online for quick processing and disbursal.


 

✅Does ICICI Bank offer any pre-approved personal loan?

Yes. The ICICI pre approved personal loan is available for select customers of the bank. Under the scheme, you can get a loan in just 3 seconds with zero to minimal documentation.


 

✅How can I apply for an ICICI Bank personal loan online?

If you wish to avail of ICICI Bank personal loan online apply through the bank’s official website or via MyMoneyMantra.