ICICI Bank offers personal loans with interest rates starting from 10.75% p.a., providing flexible loan tenures of up to 72 months and loan amounts ranging from Rs. 50,000 to Rs. 40 lakh. These loans are designed to meet various personal financial needs, such as medical emergencies, weddings, travel, or debt consolidation.
ICICI Bank personal loans feature quick approval, minimal documentation, and no collateral requirement. Additionally, the bank offers flexible repayment options, making it easy for borrowers to manage their financial needs with ease and convenience.
ICICI Bank Personal Loan Highlights
Interest Rate
10.85% p.a. onwards
Loan Amount
Up to Rs 50 lakh
Tenure
1-6 years
Processing Fees
Up to 2% of loan amount
Minimum Monthly Income
Rs 30,000
Types of Personal Loans
Personal Loan Type
Purpose
LTV Ratio
Tenure
Special Features
Personal Loan
General Use
N/A
Up to 5 years
Quick disbursal, minimal documentation
Wedding Loan
Wedding Expenses
N/A
Up to 5 years
Tailored for wedding expenses, special offers
Travel Loan
Travel Expenses
N/A
Up to 5 years
Competitive interest rates, flexible repayment
Medical Loan
Medical Expenses
N/A
Up to 5 years
Instant disbursal, minimal documentation
Home Renovation Loan
Home Renovation
N/A
Up to 5 years
Flexible repayment options, lower interest rates
Education Loan
Higher Education
N/A
Up to 5 years
Covers tuition fees, flexible repayment options
ICICI Bank Personal Loan Features & Benefits
Zero Collateral: No need to mortgage property.
Loan Amount Tenure: Maximum up to ₹25 lakhs can be availed for up to 5 years.
Interest Rates: Attractive rate of interest starting at 10.75% p.a.
Digital KYC: Easy documentation with video KYC using Aadhar Card.
Flexible Repayment Options: Tailor the repayment schedule to fit your financial situation.
ICICI Bank Personal Loan Interest Rate
Customer Type
Effective Rate Of Interest
For Salaried
10.75% to 13.75% per annum
For Self-employed
11.00% to 14.75% per annum
ICICI Bank Personal Loan Processing Fees and Charges
Personal Loan
Charges
Processing Charges
Up to 2% of loan amount + GST
Pre-payment Charges
For salaried customers- 3% plus applicable taxes on principal outstanding after payment of 1st EMI, Nil if 12 or more EMIs are paid.
For MSE classified customers, charges are Nil after payment of the 1st EMI for loan amount of up to Rs 50 lakh
Loan Cancellation Charges
Rs 3,000 + GST
Penal Interest
24% p.a.
EMI Bounce Charges
Rs 400 per bounce + GST
Repayment mode swap charges
Rs 500 per transaction + GST
Eligibility criteria for ICICI Personal Loan
Requirements
Salaried
Self-Employed
Residency
Indian/NRI
Indian/NRI
Age
20 years to 58 years
28 years and 65 years
CIBIL Score
750 and above
750 and above
Minimum Net Income
Rs.30,000 per month
Rs.30,000 per month
Documents required for ICICI Personal Loan
ID Proofs: Passport, Aadhar card, driving license, voter ID, PAN card
Residential Proofs: Passport, utility bill, leave and license agreement
Bank Statement: Past 3 months
Salary Slip: Last 3 months
Photographs: 2-3 passport size
ICICI Bank Personal Loan EMI Calculator
Calculate your EMI using ICICI Bank’s online EMI calculator. Simply enter the loan amount, tenure, and interest rate to get an estimate of your monthly payments. [Link to EMI Calculator]
Tips to Improve Loan Approval Chances
Improve Credit Score: Maintain a CIBIL score of 750 and above.
Reduce Existing Debt: Lower your existing debt before applying.
Stable Income: Ensure consistent and stable income to meet eligibility criteria.
How to Apply for a Personal Loan at ICICI Bank?
You can easily apply for a ICICI Personal Loan online by following these easy steps:
Visit the ICICI Bank website or nearest branch.
Click on ‘Apply Now’.
Provide your personal and income details.
Select ‘ICICI Bank’ from the list of lenders.
Choose your preferred loan amount and repayment tenure.
Submit the application.
Following the verification of your application, an ICICI Bank executive will contact you for further proceedings.
Types of ICICI Bank Personal Loans
Standard Loan: Cover general personal expenses with quick processing.
Top-up Loan: Manage additional financial needs with customizable repayment options.
Wedding Loan: Get immediate financial assistance for your wedding with specialized features.
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Compare ICICI Bank Personal Loan with Other Banks and NBFCs
ICICI Bank offers personal loans designed to meet a wide range of financial needs, from managing emergency expenses to funding large purchases or vacations. With competitive interest rates ranging from 10.99% to 22% per annum, ICICI Bank’s personal loans are accessible to both salaried and self-employed individuals.
