ICICI Bank Personal Loan

ICICI Bank star star star star star 4.5 / 5.04 users

ICICI Bank is a well known private sector bank in India. The bank provides its customers with personal loan to make their dreams come true like renovation of the house, dream wedding, dream vacation or purchasing any gadget from the wish list. The bank offers a fixed interest rate which is charged on the basis of monthly reduction. The ICICI Bank Personal Loan has flexible tenure which is up to five years. Any collateral or security is not required to avail the loan.

ICICI Bank Personal Loan Details Updated on 20th November 2018
Loan Amount Rs.5,0000 to Rs.2,00,0000
Loan Tenure 5 Years
Interest Rate 10.99% to 22.00%

Why Choose ICICI Bank Personal Loan?

  • The advantage of this loan is its same interest throughout the duration.
  • Simple documentation is needed and the personal loan in ICICI bank then gets processed faster.
  • The customers can pay off the loan in easy instalments every month and can repay it via auto debit or PDC or ECS.
  • You can check out ICICI bank personal loan eligibility and ICICI bank personal loan EMI calculator at loanbaba.com.

Features and Benefits of ICICI Bank Personal Loan

Loanbaba.com provides all the information about ICICI Bank Personal Loan.

Factors

Individuals Working on  Salary Basis

Individuals Who are Self Employed

 Personal loans interest rates in ICICI bank

11.59 to 22 %  Annually

11.59 to 22 %  Annually

Amount of the Loan

Fifty Thousand Minimum

Twenty Lakh Maximum

.

Fifty Thousand Minimum

Twenty Lakh Maximum

Duration of the Loan

One Year Minimum

Five Years Maximum

One Year Minimum

Five Years Maximum

Minimum Instalment

1,102 INR  (This is calculated at the lowest amount of the loan taken and for maximum tenure of the loan)

1,102 INR  (This is calculated at the lowest amount of the loan taken and for maximum tenure of the loan)

Applicant’s Age

23 to 58 years

28 years minimum (For doctors : 25 years)

65 years maximum

Fee for Foreclosure

  -

 -

Why Apply for ICICI Bank Personal Loan?

Loanbaba provides comprehensive information about personal loan schemes by ICICI. Keep a note of this page to stay updated with recent information on this bank loan scheme. You can also quickly apply for this loan online on the bank's official website without having to visit the bank branch. It is simple and easy, and you can upload all the required documents online. Disbursal is done at the soonest, and you can keep a track of your loan application on the website.

ICICI Bank Personal Loan Interest Rates

Personal Loan ICICI Bank interest rate ranges between 11.59 to 22 % annually. Keep a check on this page to note the updated interest rate for ICICI bank personal loan.

ICICI Bank Personal Loan Eligibility

  • The applicant for personal loan ICICI needs to be at least 23 years old and possess all necessary identity and income proof required to apply for the loan.
  • He/she meet the requirement for credit score and should not be under too many debts.
  • Personal loan eligibility may differ from one candidate to another. You can also use free-of-cost ICICI Bank personal loan eligibility calculator at Loanbaba.com.

Types of ICICI Bank Personal Loan

ICICI bank has personal loan schemes for professionals and salaried individuals. The amount taken as loan can be used for either multiple or specific purposes.

ICICI Bank Personal Loan FAQs

  • addFAQs

    Below provided are important questions about personal loan ICICI Bank.

    1. How is the ICICI Personal Loan EMI calculated?
    2. The interest and the principal amount for personal loan ICICI bank are divided by the duration in which the customer needs to repay the loan. He/she needs to pay the amount on monthly basis.

      Below is given the formula for calculating the EMI –

      Principal amount × monthly interest rate × (1+ monthly interest rate) to the power of duration of loan divided by [(1+ monthly interest rate) to the power of duration of loan - 1]

    3. What are the prepayment charges for personal loan at ICICI Bank?
    4. The prepayment charges for ICICI Personal Loan is 5 % annual of the amount of principal outstanding loan + GST.

    5. What are the processing fees charged for ICICI personal loan?

    Up to 2.25 % annually of the amount of the loan + GST is charged as processing fee for ICICI personal loan.

ICICI Bank Personal Loan Review


Personal Loan
star star star star star 14.0/5
I stand by with ICICI Bank for the personal loan in Mumbai. My experience was nice. Verification process was also done in time and I received the amount within a short time.
Mumbai November 19, 2018
Personal Loan
star star star star star 15.0/5
personal loan in Pune was approved by ICICI bank at a great interest rate! I was able to secure the loan for a desirable tenure.
Mumbai November 19, 2018
Personal Loan
star star star star star 14.0/5
As I was holding a savings account with ICICI bank they gave me personal loan for which the entire documentation process was very less. It was a quick disbursement procedure.
Mumbai November 18, 2018
Personal Loan
star star star star star 15.0/5
Taking personal loan in Gujrat by ICICI bank through online portal of loanbaba was after all not a bad idea. This way I could communicate with the ICICI without having to come over to their branch. All by documentation was sorted and I got the loan in decent time.
Mumbai November 18, 2018

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