About ICICI Bank Personal Loan

ICICI Bank is an Indian multinational banking and financial services company that is headquartered in Mumbai. It is the second largest Indian bank in terms of assets and market capitalization. ICICI bank offers a comprehensive range of financial services and banking products to retail and corporate clients through multiple delivery channels. You can avail an instant personal loan from ICICI bank for all kinds of personal needs. ICICI Bank personal loan is not restricted to any specific requirement and can be used for anything like a holiday overseas, wedding, home interiors, purchase of a home appliance or anything else.

The interest rates are amongst the lowest in the market and the personal loan can be availed by both salaried and self-employed individuals. ICICI Bank personal loan offers the double benefit of quick access to funds as well as no need of a collateral. Following are more details related to the eligibility criteria, loan features and the applicable charges related to ICICI Bank personal loan.

Personal Loan Eligibility Criteria for Salaried / Self-Employed

As with any lending product, you need to meet certain eligibility criteria to avail the ICICI Bank personal loan too. They have a loan eligibility page where you can enter details like where you live currently, your date of birth, your existing relationship with the bank (if any) and type of employment. You’re instantly told whether you’re eligible for their personal loan product or not. And if yes, what amount are you eligible for. Following are the exact ICICI Bank personal loan eligibility criteria for salaried and self-employed individuals.

18 – 65 years

Age (Min – Max)

₹ 4k – 65k

Minimum Income (Metro Cities)

₹ 4k – 65k

Minimum Income (Other Cities)

18 – 65 years

Age (Min – Max)

₹ 4k – 65k

Minimum Income (Metro Cities)

₹ 4k – 65k

Minimum Income (Other Cities)

₹ 4k – 65k

Minimum Income (Doctors/ Chartered Accountants)

₹ 4k – 65k

Minimum Income (Company Secretary / Architect)

₹ 4k to 65k

Minimum Income Self Employed (Businessman)

ICICI Bank Personal Loan Features / Details

18.25%

Interest Rate (Min)

Upto XX Years.

Loan Tenure

₹ 25k – 50Lacs

Loan Amount (Min – Max)

At ICICI bank, you can apply for a personal loan of up to INR 20 lakh. They claim that the approved personal loan amount can be credited into your account in a matter of 3 seconds! The repayment tenure can range from 12 to 60 months. There is no need of putting up any collateral and you can avail a fixed rate of interest, charged on a monthly reducing basis. ICICI bank promises to charge very competitive interest rate with minimum documentation. In addition, there is a dedicated 24/7 customer support helpline which addresses any queries related to their loan products throughout the day and night. Following are the exact updated ICICI Bank personal loan features you should know about.

ICICI Bank Personal Loan Fees / Charges

ICICI Bank personal loan involves a nonrefundable loan processing charge of up to 2.25% per annum of the loan amount (plus GST). Various other charges like prepayment charges, additional interest on late payment, amortization schedule charges, repayment mode swap charges, statement of account charges, loan cancellation charges, foreclosure/prepayment statement charges, no due certificate charges, no objection certificate charges, EMI bounce charges and other incidental and legal charges might also apply. Details regarding the updated ICICI bank personal loan charges are provided below.

2.4% of Loan Amount.

Processing Fees

2.4% – 5.2% of amount prepaid.

Pre-payment Charges

Yes / No

Part Payment Facility

 2000

Part Payment Processing Fees