ICICI Bank Personal Loan Interest Rates

The customers by availing ICICI Personal Loans can fulfill their basic requirements like paying the college education fee, buying new appliances for the home, funding for weddings or remodeling their home. The interest rate applied with the ICICI Personal Loan is fixed, and on a monthly reducing basis, it is charged. On the other hand, five years is the maximum tenure provided with the loan, and the applicant is not required to provide any collateral or guarantor for the loan.

The bank provides with multiple options for repaying the loan amount such as PDC, auto-debit or ECS. The reason why availing personal loan from ICICI Bank is beneficial for the customers is that throughout the tenure, the interest remains the same. Applying for the loan is a hassle-free process with only simple documentation required.

However, the bank will review the credit history and monthly income of the applicant along with inflation and RBI rates to define the interest rate attached to the personal loan. The interest rates for ICICI Bank Personal Loan range from 11.99%-20%. 

ICICI Personal Loan Interest Rates 2017:

Particular

Salaried

Self-Employed

Interest rate

11.59%-22.00% yearly

11.59%-22.00% yearly

Loan Amount

Min: Rs.50000/- Max: Rs.20 lakhs

Min: Rs.50000/- Max: Rs.20 lakhs

Loan Tenure

Min: 1 Year

Max: 5 Years

Min: 1 Year

Max: 5 Years

Lowest EMI

Rs.1102/- (for lowest loan amount taken)

Rs.1102/- (for lowest loan amount taken)

Processing Fee

Applicable GST + 2.25% per annum of loan amount

Applicable GST + 2.25% per annum of loan amount

Age

Min: 23 years

Max: 58 years

Minimum (self-employed individuals): 28 years and 25 years is the minimum age set for the doctors

Maximum: 65 years

Prepayment Charges

Applicable GST + 5% per annum of principal outstanding loan amount

Applicable GST + 5% per annum of principal outstanding loan amount

Foreclosure Charges

None

None

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