|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 YearMax: 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|
|Prepayment Charges||Applicable GST + 5% per annum of principal outstanding loan amount||Applicable GST + 5% per annum of principal outstanding loan amount|
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%.
401, Lakhani Centrium, Sector 15, CBD Belapur, Navi Mumbai, Maharashtra 400614