ICICI Bank Personal Loan

The following are some important ICICI Bank Personal Loan details:

Note: ICICI Bank is powered by https://www.icicibank.com/, and the information mentioned here is provided by ICICI Bank

The features of the ICICI Bank Personal Loan are mentioned below:

• Loan amount: Maximum Rs. 40 Lakhs.
• ICICI Bank Personal Loan Interest Rates start from 10.80% per annum.
• Repayment tenure: Up to 60 months.
• Personal Loan Balance Transfer facility available.
• Flexible tenure between 12 to 72 months, as per repayment capacity.
• Don't need to give any collateral.

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

• Loan Processing fees: Rs. 4999-2% of the sanctioned loan amount + GST
• Prepayment charges: 3% 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. 500 per bounce + GST
• Auto-debit bounce charges: Rs. 50 + GST

Below are the Documents Required for ICICI Personal Loan:

ICICI Bank Documents Required by Salaried Applicants:

ICICI Bank Documents Required by Self-employed Applicants:

You will have to meet the following ICICI Bank Personal Loan Eligibility Criteria mentioned below:

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: Personal loan for self-employed individuals should have a minimum age of 28 years and 25 years for doctors. The maximum age should not be over 65 years for the 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.

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: 10.80% 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: 10.80% 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: 10.80% 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 personal loan from the bank to meet their incremental financial needs.

• Interest rate: 10.80% p.a. onwards.
• Loan amount: Rs. 50,000 to Rs. 25 Lakhs.
• Tenure: 12 to 72 months.

Fresher Funding

ICICI Bank Fresher Funding offers a 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: 10.80% p.a. onwards.
• Loan amount: Up to Rs. 1.5 Lakhs.
• Tenure: 12 to 72 months.

Personal Loan for NRIs

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

• Interest rate: 10.80% 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.

You can calculate the EMI for an 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 calculation 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 the MyMoneyMantra Personal Loan EMI Calculator.

Example:

• Loan amount required: Rs. 25 Lakhs
• Tenure of repayment: 5 years
• Rate of interest applicable: 10.80% p.a.
• EMI to be paid each month: ₹54,107
• Total interest outgo: ₹7,46,422
• Total amount to be paid to the bank: ₹32,46,422

Amortization schedule for the above example

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.

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 their concern regarding the ICICI Personal Loan. Alternatively, visit the ICICI Bank branch and send 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.