ICICI Bank Personal Loan: Interest Rate, Eligibility, Processing & Customer Care

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ICICI bank personal loan

ICICI personal loan also known as unsecured loans are loans made available to individuals in order to fulfill certain unavoidable expenses such as a wedding, home renovation, to finance a trip of one kind or another and a lot of other things.

ICICI bank personal loan Features and benefits

  • Once your application is approved, the funds are credited to your account within three seconds.

  • We give you the flexibility to choose the loan tenure ranging from 12 to 60 months.

  • Minimum documents needed.

  • The interest rate is fixed and it remains the same throughout the loan tenure.

  • You need not provide any collateral or security.

ICIC Bank Personal Loan Types

Wedding Loan

Despite saving for years for your child’s wedding, there might be last minute requirement for extra funds to deal with expenses like venue booking, guest accommodation, catering, shopping, jewelry, invitation cards, etc. With ICICI Bank personal Wedding Loan you can get the necessary funds. While actual loan disbursal and interest rate may vary according to different criteria, some of the key features of ICICI Bank’s Wedding Loan are as follows:

  • Low interest rate starting from 11.25% p.a.

  • You can get up to Rs. 20 Lakh

  • Quick loan process with minimal documentation

  • No collateral/security is required

Top up Loan

 There are two top-up loan options provided by ICICI Bank to a borrower. You can either choose to get a new loan in addition to your existing personal loan to meet a new financial requirement or get a top-up on your existing personal loan. In case you go for two separate loans, you will have to pay separate EMIs – one for the existing loan and another for the new loan. However, if you go for a top-up on the existing loan amount you pay a single combine EMI on the entire loan amount. A Top up Loan includes the following features:

  • Top-up Loan interest rates start at as low as 11.25% p.a.

  • Didn’t need any collateral/security

  • The documentation involved is minimal

ICICI Bank Home Renovation Loan

For that who wish to renovate there houses ICIC bank offered Home renovation loan. This personal loan can help the applicant get new fittings, fixtures, and furniture for their home. Some key features of ICICI Bank Home Renovation Loan are:

  • Home Renovation Loan interest  starts at as low as 11.25%

  • You can get up to Rs. 20 Lakh to get your home renovated

  • minimal documentation requires making the entire loan process hassle-free

  • Disbursal of loan amount within 72 hours in your bank account

ICICI Bank Holiday Loan 

This personal loan from ICICI can fund a range of Holidays or trip-related expenses including flight ticket booking, hotel accommodations, guided tours, etc. Key features of ICICI’s Holiday Loan are:

  • Holiday loan Interest Rates start at 11.25% p.a.

  • For your dream vacation get up to Rs. 20 lakh 

  • Easy and simple process with minimal documentation 

  • Fast processing and disbursal of loan which is credited directly to your account 

Fresher Funding 

A majority of unsecured personal loans are targeted at individuals with a regular income however ICICI Bank’s Fresher Funding is different. This loan option from ICICI Bank is specifically designed to help a fresher i.e. a recent graduate seeking their first job. ICICI Bank Fresher Funding personal loan features:

  • under this scheme fresher’s can get personal loan up to Rs 1.5 lakh

  • To get Fresher funding personal loan applicant must above 21 years

  • The interest rate depend on the credit history/score, age and location of the applicant 

Documents Required for ICICI bank personal loan

Criteria For Salaried  For Self-employed
Id Proof
  • Photographs

  • Passport

  • Driving license

  • Voter id

  • Aadhar card

  • National Population

Register (containing

details of name and

address)

  • Photographs

  • Passport

  • Driving license

  • Voter id

  • Aadhar card

  • National Population

Register (containing

details of name and

address)

Address Proof
  • Passport

  • Driving license

  • Voter id card

  • Ration card

  • Utility bills

  • Property registration documents/rental agreement

  • Passport

  • Driving license

  • Voter id card

  • Ration card

  • Utility bills

  • Property registration documents/rental agreement

Age Proof
  • Aadhar card

  • Birth certificate

  • Passport

  • Voter id 

  • Aadhar card

  • Birth certificate

  • Passport

  • Voter id

income Proof
  • Latest 2 payslips

  • Last 3 months bank

statement

  • 1 year Individual IT Return

  • Computation of

Income Schedule

  • 1 year audited P&L

  • Last 3 months bank

statement


Compare other banks personal loan interest rates

Eligible Salaried, self-employed, private sector employees, government employees, doctors, teachers, Employees of various public and private companies, local bodies.
Age 21 years to 56 years at the time of loan maturity
Income

minimum of 1 year with the current employer

Min. Rs 15000 salary 

Other Banks Personal Loan Interest rate comparison

Banks Interest Rates
AXIS Bank Personal Loan 12% p.a.
SBI Personal Loan 11.30% to 16.40%
SBI Xpress Bandhan 12.15% to 15.15%
SBI Xpress Credit Personal Loan 11.65% to 14.65%
HDFC Bank Personal loan 10.75% p.a.
Kotak Mahindra Bank Personal Loan 10.75% to 17.99%
Yes Bank Personal Loan 10.99% to 20.00%
Yes Bank Personal Loan 10.99% to 20.00%
Citi Bank Personal Loan 10.50%
ICICI Bank Personal Loan 11.25% to 22.00%
Standard Chartered Bank Personal Loan 10.99% to 19.00%
IDBI Bank Personal Loan 12.00% to 13.50%
RBL Bank Personal Loan 13.99% to 18.00%
HSBC Bank Personal Loan 10.75% to 17.84%
IndusInd Bank Personal Loan 11.00% to 20.00%
Bank of Baroda Personal Loan 10.50% to 16.15%
Bank of India Personal Loan 12.15% to 14.15%
Canara Bank Personal Loan 13.00% to 14.00%

Eligibility criteria for ICICI bank personal loan

ICICI Bank Personal loan Interest rate, Schedule charges and fee

Fee type Charges
Processing charge 2.25% of loan amount + GST
Prepayment fee 5% on principal outstanding + GST
Late payment charge 24% p.a.
Loan cancellation fee Rs. 3000 + GST
Cheque bounce charge Rs.400 per bounce + GST
Cheque swap charge Rs. 500 per transaction + GST

How to apply for ICICI Bank Personal Loan

  • Visit to ICICI bank portal

  • Now go to “Product” section

  • Now go to “personal” menu and click on “loans”

  • Now select “Personal Loan”

  • Complete the registration form and attached all required documents

  • After that submit your application form

know More about other financial Products 

Business Loans Car Loans Commercial Loans
Education Loans Gold Loans Holiday Loans
Home Loans Personal Loans Professional Loans
Loan Against Properties Loan Against Securities Two Wheeler loans
Credit cards Insurance loan EMI Calculators
Last Updated on : 24/Jun/2020

Know More How To Apply ??

Know More About

Icici Bank Personal Loan

You're eligible for a Icici Bank Personal Loan if you:


Are legally adult enough to handle it


Have still got it


Get a regular pay check


Make more than a basic buck

Your eligibility depends on:


Earn more than minimum income required


Maximum allowed Personal Loans is Rs. 10K to Rs. 45 lakhs


EMIs of other loans loweryour eligibility

Boost your eligibility by:


Pay off your credit card bills


Choose longer tenure loan up to 5 years

Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:

  • 1. Photo ID and age proof
  • 2. Signed application form with photograph
  • 3. Residence proof
  • 4. Last 6 months bank statement
  • 5. Documentation for salaried applicants:
    • Last 3 months salary - slips
    • Form 16 or Income Tax Returns
  • 6. Documentation for self-employed applicants:
    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Icici Bank Personal Loan Interest Rates

Updated on 25 Nov 2017

Icici Bank Personal Loan Details
Interest Rate (Monthly reducing balance) 10.99% - 16.25%
Processing Fees 0.75% (Minimum Rs. 999)
Loan Tenure 1 year to 5 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Personal Loans EMI Calculator

Loan Amount

|
1L
|
50L
|
100L
|
150L
|
2Cr

Interest Rate

%
|
5
|
10
|
12.5
|
17.5

Loan Tenure

|
1
|
10
|
20
|
25
|
0
|
120
|
240
|
300


Your Monthly Loan EMI


₹24,959