ICICI Bank Personal Loan

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ICICI Bank Personal Loan asks to Live your Dream and helps you to manage finances. You can avail the loan for wedding, family holiday, NRI personal loan, fresher funding, home renovation or as 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 you need money, you can’t wait for 3 days to get it and therefore, ICICI Bank provides you with a personal loan quickly within a few hours. ICICI is India’s largest private sector bank which has kept accord with technology and you 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

With ICICI Bank Personal Loan you can apply for loan just in 3 days (72 hours) with 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 provides applicants' with an opportunity to transfer your 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 your life. Whether it’s unexpected vacations or any emergency situation, personal loan offers you double benefits of quick access to funds and zero need for collateral. You 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 your mind and need urgent cash for booking venue, catering, jewellery, shopping, or guest accommodation? Then you should go for ICICI wedding loan and focus on the big day of your life. Wedding is a thought-provoking affair and you should adequately prepare for it financially with ICICI Bank. The bank offers interest rate starting from 11.25% p.a. and you can avail 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%, so you can avail loan up to Rs 20 Lakh. The amount will be processed quickly and credited to your account in 72 hours without providing any collateral. ICICI Bank Home Renovation loan wants you to transform your house into a home now, Apne Dum Par.

  • Holiday Loan:

  • A dream vacation to anywhere in the world is not anymore out of reach as your 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 helps fresher funding so that you can start your dreams along with your job. You 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, who understand your needs and offer you the opportunity to make life picture perfect. The loan is available with easy documentation, quick processing at low-interest rates from 15.49% per annum for 36 months. You can apply for the loan 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 fulfil your dreams? Than ICICI Bank offers you with the top-up loan with a flexible option to meet your incremental financial needs. The loan is available with interest rate starting from 11.25% p.a. so that you can cover both your existing loan amount and 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

ICICI Bank Personal Loan Application Process Details

    For new customers:

    • Head to the official link from your web browser: Link or signup into your ICICI Bank mobile application > Personal Loan > Apply Online
    • Fill your 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
    • You already have an account with the bank so need not to provide your KYC details
    • Enter your basic details, such as your 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. Bleow is 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

Apply for Instant Personal Loan

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Last Updated on 2020-05-06T02:35:34+00:00


ICICI Bank Personal Loan FAQs

  1. 1. How to check ICICI personal loan status?

    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.

     

     

  2. 2. Can I close ICICI personal loan online?

    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.

     

     

  3. 3. Can I know the ICICI personal loan EMI amount in advance?

    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.

     

     

  4. 4. Can I get ICICI personal loan on credit card?

    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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