ICICI Bank Personal Loan - Apply Online @10.5%

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.

Institution Type: Bank

Minimum Loan Amount: ₹50,000

Maximum Loan Amount: ₹2,000,000

Minimum Tenure: 12 months

Maximum Tenure: 60 months

Interest Rates: 10.5% to 19%

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

• 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.

• 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.

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

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.

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.

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.