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ICICI Bank Personal Loan

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ICICI Bank Personal Loan asks to Live your Dream and helps to manage finances. The loan is available for weddings, family holidays, NRI personal loans, fresher funding, home renovation or as a Top Up loan. With the facility to provide the personal loan within few hours to 2 days, the customers of ICICI Bank can rejoice their personal emergencies or goals to the earliest and easily.

ICICI Bank Personal Loan Details

A personal loan can indeed be your friend when you need and tide you through emergencies. When in need of money, a person can’t wait for 3 days to get it and therefore, ICICI Bank provides with a personal loan quickly within few hours. ICICI is India’s largest private sector bank which has kept accord with technology and one can apply for its personal loan online. You can also SMS to the bank for getting a call back regarding personal loan and if you are existing customer of the bank, the amount will be transferred to your bank account within 2-3 hours.

To get Personal Loan with ICICI Bank, the applicant’s age must be between 23 to 58 years. The bank provides loan amounts ranging from Rs 25,000 to 50,000,000 for the loan duration of a minimum of 1 year to a maximum of 5 years. Talking about the interest rate, the ICICI Bank loan interest rate starts from 10.99% per annum (minimum) to 19.5% per annum (maximum).

ICICI Bank Personal Loan Information

ICICI Bank Personal Loan provides easy loan within 3 days (72 hours) with interest 10.99% p.a. onwards. Below table gives the complete details of Personal Loan.

ICICI Bank Personal Loan Details
Loan Category: Personal Loan
Tagline: Live your Dreams
Loans Offering: Wedding loan, home renovation loan, holiday loan, fresher funding, NRI personal loan, top up loan
Loan Type: Unsecured personal loan
Interest Rate: 10.99% p.a. onwards
Processing Fee: Up to 2.25% of the loan amount plus GST
Approval Process: Both online and offline
Minimum Income Requirement: ₹17,500 (₹25,000 for applicants residing in Mumbai & Delhi; ₹20,000 for
Loan Approval Timing: 3 days (72 hours)
Minimum Loan Amount: ₹25,000
Maximum Loan Amount: ₹50 Lakh
Minimum Loan Period: 12 months/1year
Maximum Loan Period: 84 months/7 years
Type of Interest Rate: Fixed interest
Interest Charging Method: Reducing balance method

ICICI Bank Personal Loan Special Feature Details

    Balance Transfer and Top-up: 

    ICICI Bank provide applicants with an opportunity to transfer existing high-cost loan to ICICI at a lower interest rate. A top-up loan on an existing loan is also available after payment of 6 EMIs for the existing loan.

ICICI Bank Personal Loan Eligibility Criteria

There are eligibility criteria set by ICICI Bank for their personal loan:

ICICI Bank Personal Loan Details
Salaried Employees Yes
Salaried Doctors Yes
Employees of public and private limited companies Yes
Government sector employees including Public Sector Undertakings, Central and Local bodies Yes
Loan for Pensioners Yes
Loan for Existing Customers Yes
Self-Employed Yes
Selected Corporate Yes
Other Criteria Self-employed individuals should be in current business for at least 5 years, 3 years for doctors. Total 2 years of job or profession with 1 year in the current residence.
Minimum Age 21 years
Maximum Age 60 years at the time of maturity of the Personal Loan
Minimum Income Requirement ₹17,500 (₹25,000 for applicants residing in Mumbai & Delhi; ₹20,000 for

ICICI Bank Personal Loan Strengths/Advantages

  • Quick and fast disbursal process.
  • No security or collateral required.
  • Flexibility of tenure.
  • Tax saving if you use the amount for home construction or renovation.

ICICI Bank Personal Loan Weaknesses/Disadvantages

  • Age eligibility differ from other banks, i.e., 23 to 58 years while other banks offer 21 to 60 years.
  • High loan cancellation charges of Rs 3000 plus GST.

Request call back from ICICI Bank Personal Loan

ICICI Bank Personal Loan Products & Services

ICICI Bank offers the following products and services:

  • Personal Loan:

  • A personal loan is the best way to meet up with the unexpected and unplanned situations in life. Whether it’s unexpected vacations or any emergency situation, a personal loan offers double benefits of quick access to funds and zero need for collateral. The applicant can get the personal loan from ICICI Bank easily for 12 to 60 months with an interest rate starting from 11.25% p.a.

  • Wedding Loan:

  • Is your dream wedding in mind and need urgent cash for booking venue, catering, jewelry, shopping, or guest accommodation? Then ICICI offers a wedding loan to focus on the big day of your life. The bank offers an interest rate starting from 11.25% p.a. and you can avail of loan up to Rs 20 Lakh.

  • Home Renovation:

  • Home is where everyone’s story begins and to make it into a lovely place, your dreams can be fulfilled by ICICI Bank Home Renovation Loan. ICICI Bank Personal Loan for Home Renovation is available at the interest rate starting at 11.25% for a loan of up to Rs 20 Lakh. The amount will be processed quickly and credited to the account in 72 hours without providing any collateral.

  • Holiday Loan:

  • A dream vacation to anywhere in the world is not anymore out of reach as ICICI Bank Holiday loan is with you. This loan comes with full freedom to choose the desired destination by taking care of all the expenses with an interest rate starting @ 11.25% p.a. It comes with quick processing and disbursal with no collateral requirements.

  • Fresher Funding:

  • ICICI Bank offers fresher funding so that a fresher can start his dreams along with a job. A person can get a loan up to Rs 1.50 lakh without any hassle at an active interest rate. For an availing loan from the age of 21 years, simple documentation is required.

  • NRI Personal Loan:

  • The personal expenses of NRIs are also taken care of by ICICI Bank NRI Personal Loan. The loan is available with easy documentation, quick processing at low-interest rates from 15.49% per annum for 36 months. The loan can be applied by visiting the bank branch, or email at [email protected].

  • Top Up Loan

  • Already taken a loan from ICICI Bank but need more money to fulfill dreams? Then ICICI Bank offers a top-up loan with a flexible option to meet incremental financial needs. The loan is available with an interest rate starting from 11.25% p.a. to cover both the existing loan amount and the new financial requirement.

ICICI Bank Personal Loan Feature

ICICI Bank Personal Loan offer various services, please find below the list of features offered by the vendor.

ICICI Bank Personal Loan Details
Personal Loan Yes
Wedding Loan Yes
Education Loan No
Home Renovation Loan Yes
Two Wheeler Loan No
New Car Loan No
Used Car Loan No
Travel Loan Yes
Medical Loan No
Top Up Loan Yes

ICICI Bank Personal Loan Charges

Here is the detail charge list for ICICI Bank Personal Loan process. We have covered all possible charges for your loan requirements for clear visibility on ICICI Bank Personal Loan processing.

ICICI Bank Personal Loan Details
Co-Applicant Allow No
Income Criteria Yes
Collateral Requirement No
Pre Approved Credit Limit NA
Foreclouser Charges Nil
Loan Foreclouser Conditions Nil
Bounce Charges Rs. 400 plus GST
Bounce Charges Self Employed NA
Late Payment Penalty 24% per annum
Duplicate NOC Charges At actual
Stamp Duty Charges As per laws
Instrument Swapping Charges Rs. 500 plus GST
Loan Cancellation Charges Rs 3000 plus GST
Stamp Duty Charges As per laws
Loan Rebooking Charges NA
Statement Of Account Charges NA
Duplicate Repayment Schedule NA
EMI Payment Mode Standing Instruction (SI) Electronic Clearing Service Post-dated cheque
Overdue Payment Mode NA
Hidden Charges NA

ICICI Bank Personal Loan Customer Care Details

  • Customer Support Email - [email protected]
  • Customer Support Toll Free No - 1860 120 7777
  • Customer Support Chat Facility - No
  • Customer Support Whatsapp Number - NA

ICICI Bank Personal Loan Calculator and Download Links

In this section we have listed all important links related to ICICI Bank Personal Loan.

ICICI Bank Personal Loan Details
Banks NA
Charges Information Link
Personal Loan Eligibility Calculator Link Personal Loan Calculator Link
Personal Loan EMI Calculator Link Personal Loan EMI Calculator Link
Education Loan EMI Calculator Link NA
Car Loan EMI Calculator Link NA
Product Demo Link NA
Website Link Website Link
Android App Downlaod Link Android Mobile App Download
iOS App Downlaod Link iOS Mobile App Downlaod

ICICI Bank Personal Loan Application Process Details

    For New Customers:

    • Head to the official link from web browser: Link or signup into ICICI Bank mobile application > Personal Loan > Apply Online
    • Fill mobile number & DOB or PAN Card details registered with ICICI Bank and you will get an OTP.
    • After logging in to the account with OTP, enter the desired loan amount.
    • You have to upload the required documents, such as PAN Card and address proof.
    • As you get loan approval, the funds will be disbursed to your account.

    For Existing Customers:

    • Head to the official web link to apply for ICICI Bank Personal Loan.
    • If already have an account with the bank then no need to provide your KYC details.
    • Enter basic details, such as Name, Email ID and Phone number, and submit the form.
    • ICICI Bank customer representative will call you for the loan.

ICICI Bank Personal Loan Documents Requirements

Please find below the list of documents required to avail personal loan. Aadhar, PAN and Income Proof are the most important documents, other documents are optional. The complete list of documents you can keep ready for your loan application.

ICICI Bank Personal Loan Details
Age Proof Copy of Passport/Driving License/Aadhar Card.
Address Proof Copy of Passport/Driving License/Aadhar Card/Voter ID/Ration Card.
Identity Proof Registered Rent Agreement/Utility Bills last 3 months/Copy of Passport/Copy of Ration card.
Income Proof for Salaried Emp Salary slip of last 3-6 months, ITR or Form 16, 6-month bank statement.
Income Proof for Self Emp IT returns for the last 2 years along with audited balance sheet, P&L account statement for 2 years.

Last Updated on 2020-12-30T10:43:36+00:00


ICICI Bank Personal Loan FAQs

You can check the status of online application of ICICI personal loan through trackmyloan feature. You can check the status of your loan application by entering your loan application number and mobile number.

 

ICICI Bank allows the borrowers to pre-pay their personal loan after the completion of a specific time period to pay 5% of the loan amount at foreclosure. Preclosure of your ICICI personal loan will be allowed any time during the entire loan tenure after at least 1 instalment is paid by the borrower.

 

Yes. You can know the EMI amount of ICICI Personal Loan in advance through the EMI calculator provided by ICICI Bank. You can also select the rate at which you want to pay interest with the number of years in the calculator.

 

Yes. You can get the pre-approved personal loan on ICICI credit card. The amount of loan depends on your spending, transaction pattern and payment history. The bank offers loan amount up to Rs 10 Lakh with flexible tenure of 60 months. Loan on the credit card does not require any guarantor or post-dated cheque.

 


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