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ICICI Bank Personal Loan - Apply Online @11.25%

4.7 stars based on 164 reviews

How much would you like to borrow?

Choose an amount between ₹50,000 and ₹5,000,000.

Loan Amount

25K9L17L25L33L42L50L
Interest Rate

%

10.5%15.5%20.5%25.5%30.5%40%
Tenure

mo

12m22m32m42m52m60m
Personal Loan EMI Calculator
Loan EMI
23,537
Total Interest payable
64,888
Total Payment
(Principal + Interest)
5,64,888
Break-up of Total Payment
Interest Amount (₹64,888)
Loan Amount (₹5,00,000)
Bank/NBFCInterest RateEMIProcessing Fees Part PaymentApply Now

11.49% - 17.85%

(Fixed)

4580

upto 2.5%

Apply
Rate of Interest is high ?
Rate of Interest is high ?

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Have multiple existing loans?

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ICICI Bank Personal Loan Details

ICICI Bank Personal Loan

Are you dreaming of a vacation, a grand wedding for your daughter and house renovation and need money? There is no other easy and genuine way of getting the desired money than a personal loan and in ICICI bank the loan amount will be credited to your accounts within couple of days if the applicant has all necessary documents and meets the criteria. The banks features, benefits, fees, charges, interest rates and other details are as mentioned below.

Details:

Institution Type: Bank

Minimum Loan Amount: ₹50,000

Maximum Loan Amount: ₹2,000,000

Minimum Tenure: 12 months

Maximum Tenure: 60 months

Interest Rates: 11.25% to 22.00%

Fees & Charges: Up to 2.25% + GST as applicable

Features of ICICI Bank Personal Loan

  • Multi-purpose loan.
  • Avail personal loan up to ₹2,000,000.
  • Fixed rate of Interest that is the interest percentage charged on the loan amount monthly reducing basis is fixed.
  • Flexible tenures to the maximum of 60 months.
  • No security or no collateral.
  • Loan payable option in installments.
  • Repayment through ECS, PDC and Auto-debit.

Benefits of ICICI Bank Personal Loan

  • ICICI Bank is offering fixed rate of interest for Personal loan, by this the interest remains same throughout the tenure of the loan.
  • In order to get ICICI Personal Loan the applicant does not have to go through too much documentation process.
  • This bank facilitates fast loan approval and disbursal of the amount.
  • It offers an option to directly credit the loan amount through Fund Transfer (FT).
  • ICICI bank provides simple payment options such as ECS, PDC and AD.
  • If all criteria are met disburse of the money can happen within 72 hours of document submission.

Why should you choose ICICI Bank for Personal Loans?

There are more than enough reasons to choose ICICI personal loan, a few of the same is listed below. This bank does not have special usage list for personal loan amount, thus it can be used for:

  • A monetary aid for the renovation of your house
  • To meet wedding expenses one of the important and expensive days
  • To buy a new iPhone
  • To plan and spend holidays with the family
  • To simply pay off credit card bills or other debts
  • To meet business requirements such as advertisements or new table tennis table for the team

How to apply online for Personal Loan from ICICI Bank?

Applying for a personal loan through Finance Buddha is pretty easy. All you need to do is complete the below 3 steps.

Step 1: The applicant must fill the eligibility form with correct and up-to-date personal data including their financial records such as salary or monthly income, any liabilities etc. Once this is submitted, the Finance Buddha tool automatically considers the personal loan eligibility factors of the applicant and tailored personal loan options will be displayed instantly.

Step 2: As the second step, you are provided with a list of banks for loan as per your financial history and other credentials. You can compare various options and choose the appropriate one.

Step 3: As the third and last step, the applicant will receive an instant e-approval from Finance Buddha after submission of personal loan online application.

Eligibility Criteria

Eligibility Overview

Age

23 years - 58 years

Minimum Income

Salaried individuals with minimum monthly income ₹17,500 (₹25,000 for applicants residing in Mumbai & Delhi; ₹20,000 for applicants residing in Chennai, Hyderabad, Bangalore, Pune & Kolkata)

Total years in job/profession

2 Years

Years in current residence

1 Year

For Salaried Employees:

  • The personal loan applicant at ICICI Bank should be of a minimum age 23 years and maximum age up to 58 years.
  • The person should have a minimum monthly income of ₹17,500.
  • If the person lives in in Mumbai or Delhi then they should have at least a minimum monthly salary of ₹25,000 per month.
  • If the applicant is residing in Hyderabad, Kolkata, Bangalore, Chennai or Pune then they should have minimum monthly income of at least ₹20,000 per month.
  • The individual should have totally more than 2 years of work experience.
  • He/ she must also have minimum 1 year work experience with their current employer.

For Self-employed Individuals:

  • The minimum age requirement for self-employed applicants is 28 years and the maximum age limit is 65 years.
  • In case if the individual is a doctor then minimum age is just 25 years.
  • The minimum return from the business of applicant should be, per audited financial statements, in case of non- professionals - ₹4,000,000 and in case of professionals- ₹1,500,000.
  • The least profit after tax should be of ₹200,000 for self-employed proprietors and individuals while it has to be a minimum of ₹100,000 for non-professionals.
  • The person applying for personal loan has to be in the current business for at least 5 years and in case of doctors, they must have been in the business for a minimum 3 years.

The individual also should have had an association or connection with ICICI Bank for at least a year, this relationship can be of a savings bank account, current account or another loan.

Interest Rates, Fees & Charges

 Facility

Salaried Employees

Self Employed Individuals

Interest Rate

11.25% to 22.00%

11.25% to 22.00%

Loan Tenure

From 12 months to 60 months

From 12 months to 84 months

Loan Amount

Min ₹50,000 and Max ₹2,000,000

Min ₹50,000 and Max ₹10,000,000

Processing Fee

Up to 2.25% + GST as applicable

Up to 2.25% + GST as applicable

Age

Min 23 years and Max 58 years

Min 25 years and Max 65 years

Prepayment Charges

Not allowed

Not allowed

Foreclosure Charges

Allowed after 6 EMI's, 5% prepayment charges applicable

Allowed after 6 EMI's, 2% in case of Balance Transfer

Documents Required

  1. Fully filled and signed application form with photograph.
  2. Copy of passport, voter ID card, and driving license.
  3. Processing fee cheque.
  4. Salaried is latest 3 months Bank Statement (where income/ salary is credited).
  5. Self Employed is latest 6 months Bank statement.
  6. Documentation for salaried applicants is salary slips for last 3 months.
  7. Documentation for self-employed applicants is Income proof (audited financial statements for last two years).
  8. Business proof such as VAT / service tax registration, incorporation details in case of companies, business address proof.
  9. Proof of residence or office ownership.
  10. Proof of continuity of business.
  11. Office addresses proof.
Frequently Asked Questions

What is the maximum tenure for which a personal loan can be availed with the ICICI Bank?

ICICI Bank provides personal loans for tenure of 12 to 48 months and in certain cases it will be extended up to 60 months.

Is the Finance Buddha site free for all personal loan investigation and for applying?

Yes. It is absolutely free. This platform is to just render services to each and every customer who is out there looking for value added information about personal loan of various banks.

Is there a way to track loan application?

Yes, absolutely, you just have to simply opt for this option and the information will be shared through phone messages or emails. This is also free and there are no charges at all.

ReviewsView All

Nijanthan Sultana

5 / 5

I have a personal loan with ICICI Bank. I went with ICICI as I heard that there is very fast processing. I applied for it through finance buddha online website. the process of applying was very easy and i was done with in just few minutes. My loan was approved on the 3rd day. and i am quite happy with it.
Arulkumar Bhaveshkumar

5 / 5

I used Finance Buddha portal for applying for a personal loan. I applied my loan with ICICI Bank after checking all the rates and charges with other banks. Finance Buddha executives came to my home and collected all the required documents. They helped me throughout the process. Thanks Finance Buddha !
Navin Soni

5 / 5

I have my personal loan from the ICICI Bank. I am happy as the processing of my personal loan was very fast and. The loan was approved within 3 working days and on the 5th day from which i applied the amount was in my personal account.
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