ICICI BANK PERSONAL LOAN

ICICI bank personal loan helps you get things under control when a multitude of financial requirements are hovering around you. The ICICI bank personal loan is there with tailored financial solutions to help you reach your personal needs (or wants) sooner than later. Personal loan is an incredible way to fund different types of personal purposes. ICICI bank brings you that at reasonable rates and smooth options for repayment. Are you fretting over the impending expenses and unable to pave any easiest way out? If yes, then check out this section where you will find how ICICI personal loan is one of the best solutions for you. 

ICICI Personal Loan Highlights

Features and Benefits of ICICI Bank Personal Loan

These features and benefits of ICICI personal loan are perfect reasons why you should consider the ICICI bank personal loan:

1. Types of Personal Loans  : Since the purposes of availing the personal loan vary from customer to customer, the ICICI bank brings a set of different personal loans that are designed to suit specific needs of the customer. The types of ICICI bank personal loan are: Wedding loan, Travel loan, Home Renovation, Fresher loan and Top Up loan.

2. Loan Amount : The loan amount you avail depends on your requirements, income, credit history and many other factors. ICICI bank offers the personal loan amount of up to Rs 30 lakh.

3. Interest Rates : The ICICI bank personal loan interest rates vary from 10.5% to 19%. However, the interest charges are affected by various factors including your credit score, loan amount and repayment tenure. 

4. Repayment Tenure : ICICI bank personal loan tenure brings you the option to choose the repayment period. You can choose to repay the loan amount within the repayment tenure ranging from 12 to 72 months. 

5. Prepayment : The bank allows you to make prepayments for your personal loan amount. The bank charges 5% of the loan amount for prepayment/foreclosure fees. You can get a waiver on the preclosure of the loan amount if you prepay the loan after paying off 12 EMIs. 

6. Personal Loan Balance Transfer : You can easily transfer your personal loan EMIs to ICICI bank with the ICICI bank personal loan balance transfer facility. Doing this can get you to save up on loan interest rates.

7. Fast Disbursement : ICICI bank personal loan is proceeded quickly and demands minimal documentation. Once your loan is approved, the bank takes no time to make the loan disbursement. 

FEE AND CHARGES OF ICICI BANK PERSONAL LOAN :

Eligibility for ICICI Bank Personal Loan 

There are some ICICI personal loan eligibility requirements which you are required to pass in order to avail the loan. From your income to your age, there are multiple factors that affect your eligibility for ICICI bank personal loan. Therefore, there is no harm in looking at the eligibility criteria before you jump to the application stage. 

Here is the eligibility criteria for ICICI bank personal loan:

• Salaried, self employed individuals and professionals can apply for this loan.
• The minimum age of an applicant should be 23 years in order to apply for an ICICI bank personal loan. 
• The maximum age of a salaried applicant should not be more than 58 years at the time of loan maturity.
• The self employed professionals and non professionals should be at least 28 years of age. 
• The maximum age of  self employed professionals and non professionals should not be more than 65 years at the time of loan maturity.
• The applicant should be earning at least 30,000 income every month.
• The self employed applicants should have the minimum turnover of Rs 40 lakh and the professionals should have at least Rs 15 lakh turnover. 
• The credit score of the applicant should be decent enough.

Apart from the requirements mentioned above, the bank also determines the existing loan an applicant has. 

Documents Required for ICICI Personal Loan

ICICI bank requires you to submit a set of documents that help move the loan application further. On failing the documentation, you will not be able to avail the personal loan from ICICI bank. You need to make sure that the necessary documents required for ICICI bank personal loan are ready to be submitted with the application. 

Here are the documents required for ICICI personal loan:

COMPARE OTHER BANK PERSONAL LOAN INTEREST RATE:

ICICI Personal Loan EMI Calculator

You can calculate the EMI you will have to pay for the repayment of your ICICI bank personal loan and manage your budget accordingly. Knowing the EMI will also help you reconsider the repayment period you have chosen. 

Here is how to calculate the EMI with the ICICI bank personal loan EMI calculator:

• Go to the official website of ICICI bank.
• Click on the “Loans” dropdown.
• Find “Personal Loans’ and click on it.
• After that, hit the “EMI Calculator” option.
• Input the total amount of personal loan, the repayment period and the interest charges.

You can now view the Monthly EMI amount. 

How to Apply for ICICI Bank Personal Loan

You can visit the nearest branch of ICICI bank personal loan offline by visiting the nearest branch of ICICI bank. Remember to carry the documents that are required for the personal loan application procedure. You can seek assistance from the bank official with the application process. 

If you wish to apply for the ICICI bank personal loan online, then you need to go through the following steps:

• Visit the ICICI bank official website.
• Go to the “Loans” dropdown menu and then, click on the “Personal Loan” option.
• Now, you have to click on the “Apply Now” button.
• On the next page, you will find the application form in which you need to enter the required information.
• Once you have completed the application, submit it.

You can also contact the bank’s customer service to know more about the ICICI bank personal loan.

ICICI Bank Personal Loan Customer Care

For more information or any query, grievances or complaints regarding the ICICI bank personal loan, you can contact the customer service of ICICI bank.

1860 120 7777

FAQs On ICICI Bank Personal Loan

Q.1 Can I make part-prepayments for my personal loan amount?

No. ICICI bank does not allow borrowers to make part-prepayment for personal loans. However, you can choose to prepay the loan amount in full and foreclose the loan. If you make prepayment before 12 EMIs, you will be charged 5% prepayment fee of the loan amount. 

Q.2 What if I make late payment of my ICICI personal loan EMIs?

If you pay your ICICI bank personal loan EMI late, then you will be charged 2% per late EMI payment.

Q.3 How can I apply for ICICI personal loan balance transfer?

You can visit the official website of ICICI bank to apply for the personal loan balance transfer. You can also contact the customer service and enquire about the eligibility and rates. 

Q.4 What monthly income is needed in ICICI Bank personal loan?

The monthly income needed in ICICI Bank personal loan is Rs 15000 or more.

Q.5 What is the maximum tenure of personal loan in ICICI Bank?

The maximum tenure of personal loan in ICICI Bank is 5 years.