Don’t let your Personal Loan Offer get away as this festive season ICICI offers the best personal interest rates to you. Currently, the bank is offering an interest rate 10.50%-18.00% per annum to an eligible applicant. The rates are attractively and low, thereby enabling reimbursement in pocket-friendly EMIs.
Table of Contents
| Interest Rate | 10.50% – 18.00% |
| Loan Amount | Up to INR 50 Lakh |
| Loan Tenure | 5 Years |
| Processing Fee | R 4999(>=10 Lac) or 2% of the loan amount + GST |
| Prepayment Charges | 5% of principal outstanding + GST |
| Security | Not required |
If you want for marriage, education, medical treatment or even for business needs, you can take a personal loan. A personal loan from ICICI bank helps you not only to meet your financial need but also to release your tension. So, here will be some of the main factors that make ICICI personal loans differ from others.
Customized Personal Loans:
To every customer, ICICI Bank offers a customized personal loan which means a loan upto Rs 40 lakh. In this, the loan repayment option between 12-60 months is provided or as per your expediency.
Attractive Rate of Interest: ICICI Bank offers personal loans at the rate of interest of 10.50% onwards.
Quick Loan Approval: The online application ensures the loans get accepted and payout quickly onto the account of individuals. This will not only minimize the time but also the effort of an individual while they are applying for the loan while they apply for the loan.
Minimal Documentation: The documentation process is easy and stress-free.
Cover Loan Liability: ICICI Bank offers the Personal Loan accountability with ‘All Safe’ Insurance to a personal loan applicant.
Instant E-Approval: In ICICI you can get an instant e-approval on applying for a personal loan.
No Collateral Required: No security is required to get a personal loan from ICICI Bank.
If you need more money but your existing personal loan is to going on then in ICICI you can easily opt for a top-up personal loan where the interest rate starts from 11.25% per annum. To take this ability, you no need to submit any security. With minimum documentation, you can get your personal loan easily from ICICI bank.
To get the above loan, you can either opt for a new loan that will cover both your current loan amount and the new loan just for your new requirement. While you pay back your loan amount, you will need to pay one full EMI for the total loan amount in the first case, there will be separate EMIs for existing and new loans if you opt for the second case.
You can also apply through Internet Banking, Mobile App, or SMS banking and you can also visit the branch for the aforesaid loan.
ICICI personal loan calculator helps you to know the exact EMI in a Stress-free manner. All you need to just enter the Loan Amount, Tenure and Interest Rate in the device, and within a few seconds, it will obtain the exact EMI as well as the overall interest out-go.
EMI Calculator Online below is a table showing the calculations of INR 5 Lakh loan taken at an interest rate of 10.99% for 5 years.
Table Showing EMI, Interest Outgo, and Total Repayment Amount
| LOAN AMOUNT | INTEREST RATE | TENURE | MONTHLY INSTALMENT | TOTAL INTEREST AMOUNT | TOTAL AMOUNT |
| ₹ 5,00,000 | 10.99% | 1 | ₹ 44,188 | ₹ 30,262 | ₹ 5,30,262 |
| ₹ 5,00,000 | 10.99% | 2 | ₹ 23,302 | ₹ 59,238 | ₹ 5,59,238 |
| ₹ 5,00,000 | 10.99% | 3 | ₹ 16,367 | ₹ 89,212 | ₹ 5,89,212 |
| ₹ 5,00,000 | 10.99% | 4 | ₹ 12,920 | ₹ 1,20,176 | ₹ 6,20,176 |
| ₹ 5,00,000 | 10.99% | 5 | ₹ 10,869 | ₹ 1,52,123 | ₹ 6,52,123 |
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
| YEAR | PRINCIPAL | INTEREST | BALANCE AMOUNT |
| 1 | ₹ 79,394 | ₹ 51,030 | ₹ 4,20,605 |
| 2 | ₹ 88,573 | ₹ 41,851 | ₹ 3,32,031 |
| 3 | ₹ 98,813 | ₹ 31,611 | ₹ 2,33,218 |
| 4 | ₹ 1,10,237 | ₹ 20,188 | ₹ 1,22,981 |
| 5 | ₹ 1,23,079 | ₹ 7443 | ₹ 0 |
The bank has different criteria for salaried and self-employed individuals. So, before you apply for this credit facility, it is better that you should know the same. You can also check your personal loan eligibility online.
An online application process is easy & rapid that allows you to get the funds instantaneously.
Step 1: Check Eligibility
With the help of EMI loan calculator, you can decide how much loan amount you are looking for or how much you can afford.
Step 2: Provide basic details
The personal loan will be provided after checking the availability offer.
Step 3: Offer for you
Based on your personal details, bank will provide you a complete details of loan amount, interest rate and tenure.
Step 4: Application form
Complete your application form either by visiting the bank or online and it’s up to your choice.
Step 5: Upload documents
Upload the documents as required and on this basis, you will receive the loan amount.
Here is the list of the documents you need to upload –
Yes, you can. All you need to do is apply for a top-up loan at ICICI Bank. The bank will merge the total loan by adding the top-up portion with the outstanding balance. It will thus charge interest on the merged loan amount.
By using your credentials login ID and password, you can check out all activities of your account.
For online personal loan, you can easily track your application status by just following a simple process. Visit google , type ICICI bank , visit our website , apply for personal loan, then enter your mobile number, followed by either date of birth or the application number. After that, you can know whether your application has been approved, pending or rejected. Isn’t it a trouble-free and effortless?
You can easily transfer your outstanding balance to ICICI Bank if you have paid 12 EMIs in your existing bank. By doing so, you can avail low interest rates on the same. This will definitely reduce the loan burden. Use the ICICI Personal Loan Balance Transfer and minimize your loan burden.
The loan approval will be depending upon the individual profile. If your documents are complete, then within the approval for a personal loan hours you can avail the loan.
ICICI Bank is now giving instant disbursal of personal loans up to INR 15 Lakh for a fixed tenure of 60 months through ATMs. The accessible salaried customers of the bank can get the personal loan amount directly in their account either by digital and paperless manner through ATMs. This facility enables the customers to get pre-qualified personal loan offers in their savings account immediately.
Customers, after completing the transaction for a balance inquiry or cash withdrawal, can see the option of personal loan. They can visit any ICICI Bank ATM and follow the below steps to avail this credit facility.
Choose the required pre-approved offer. Varied loan amount options will flash on the screen, based on your eligibility.
Accept the auto-generated interest rate, processing fee and EMI amount
Confirm the displayed terms and conditions
Submit the debit card PIN
After completing this process, you can get the loan amount on your account. However, you can also apply for an ICICI Personal Loan on the bank’s website, iMobile as well as its branches.
With ICICI bank , you can apply for a moratorium process. ICICI bank has announced a moratorium on all personal loans for upto 6 months of EMIs to provide relief to customers in COVID 19 crisis. Please note that it is optional for the customers if you can continue to pay your loan EMI as normal if your funds allow you to do so.
Below are the steps to follow if you want to opt for moratorium process –
Visit the ICICI Bank website or use the mobile app
Click on “choose your option” link and follow the subsequent steps.
On the application page, mention your registered mobile number.
After that enter your other details like date of birth, type of loan, your loan number and mention your EMI amount
Then make a decision and choose a suitable service
Click on the EMI deferment option that says I agree to pay the accrued interest on the outstanding balance
Click on the ‘Submit’ button
The bank will check the details thoroughly and process your moratorium request
You’ll be given a reference upon the successful completion of the process.on your registered mobile number and email address
Please note that the interest rate will continue to accumulate during the moratorium period and the tenure of the loan will increase. If you are in a position to pay the EMIs then keep paying on your due dates.
You can get a personal loan from the ICICI Bank by filling loan application online on their website. You can also apply for the same loan by filling out the form above visiting the bank.
The ICICI bank takes 48 hours to 72 hours to approve a personal loan. The disbursal time depends on the applicant. As soon as you submit the documents and the bank verifies them and give you approval.
The disbursal of the ICICI Bank personal loan takes 2 to 3 working days. You will get a quick disbursal if you fulfill all the eligibility criteria of the loan and submit valid documents.
The minimum personal loan you can borrow from the ICICI bank is INR 50000 and the EMI on this loan will also be low.
Yes, if you have a high credit score and a high income then you can take two personal loans from the ICICI bank. You must also have a high credit line to take two loans from the same bank.
You will need one identity proof like PAN or Aadhar, one address proof like Aadhar/Passport/Voter ID/Electricity Bill, and one income proof like Salary Slips/Bank Statement/ITR to apply for the ICICI Bank Personal Loan.
A person who complies with all the eligibility criteria can apply for the ICICI Bank personal loan:-
– 23 Years to 58 Years of Age
– Net Monthly Income of INR 17500.
– A minimum of 2 years of working experience.
– 1 year of experience with the current employer.
– A Credit Score of 750 and above.
You will need the following documents to apply for ICICI Bank Personal Loan:-
– Pan Card/Aadhar Card for Identity Proof
– Aadhar Card/Driving License/Passport/Voter ID/Electricity Bill for address proof.
– Salary Slips/ITR/Bank Statement for income proof.
– Loan application form and multiple passport-size photographs.
You can check the status of the ICICI Bank Personal by logging in to the ICICI net banking or iMobile App. You can see the status of your loan through these two methods.
Your spouse, children, parents, and siblings can be a co-borrower in the ICICI Bank personal loan application.
You will need a minimum Cibil Score of 750 and above to apply for the ICICI bank personal loan in India.
You can follow the below steps to close the ICICI Bank personal loan:-
– Visit the nearest branch of the ICICI Bank.
– Ask the bank’s manager or representative to close the ICICI Bank Personal Loan.
– Fill out the loan application closing form.
– Clear all the outstanding dues and submit the form to the manager.
– The manager will close the ICICI Bank personal loan and issue the NOC.
You can foreclose the ICICI bank personal loan by paying the outstanding amount on the foreclosing date and also paying the foreclosing fee that will be charged on the outstanding amount of the loan.
You can use the auto-debit feature of the ICICI bank to pay the personal loan through EMIs. the bank will automatically debit the monthly EMI from your account on a particular date and this is how you will pay the full ICICI bank personal loan.
In order to check the balance of your ICICI personal loan, you can login to ICICI net banking or the iMobile app and go to the loan section to know the outstanding balance of your loan.
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