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ICICI Bank Personal Loan

ICICI Bank was established by the Industrial Credit and Investment Corporation of India (ICICI) , an Indian financial institution, as a wholly owned subsidiary in 1994. It is an Indian Multi-national banking and financial service provider headquartered in Mumbai.

Why apply ICICI Personal Loan @ SalariedLoans.com?

  • Low Interest Rates: We Negotiate with ICICI Bank to get you the best personal loan interest rates.
  • Customized Offers: SalariedLoans.com has partnered with ICICI Bank to give you customized personal loan offers.

ICICI Bank Personal Loan Details

ParticularsDetails
Interest Rates10.99% – 22.00%
Loan AmountINR 1 Lakh – INR 40 Lakh
Tenure1 to 5 Years
Processing Fee₹10,000 – 2.50% of the loan amount
Foreclosure Charges5% on the principal outstanding amount

ICICI bank Personal loan purposes:

Personal loan for dream vacation, a perfect wedding, home renovation or a much deired gadget, you no longer need to wait to realize your dreams. Make life picture perfect with ICICI Bank Personal Loans. Introduction to ICICI Bank Personal Loan
  • Multi-purpose personal loan
  • Fixed rate of Interest, Interest charged on monthly reducing basis
  • Flexible tenures up to 60 months
  • No security, no collateral
  • Loan payable in easy installments
  • Repayment through Auto-debit / ECS / PDC

End use of the ICICI Bank Personal Loan can be House renovation, Holidays, Purchase of consumer durables, Education, Marriage, Short Term loan for equipment purchase, Short Term Working Capital, Any other personal emergency.

Benefits of ICICI Bank Personal Loan : Convenient and Fast

Get a personal loan without any security or guarantor with minimum documentation. Loan Disbursement within 72 hours* of document submission.
  • Interest rate remains unchanged throughout the loan tenure
  • Simple documentation – It can be accessed with minimal paperwork and documentation and doesn’t take much time.
  • Quick processing
  • Direct credit of the loan amount through Fund Transfer (FT)
  • Simple repayment options of ECS, AD or PDC. You can also choose duration as per your choice and tenure starts from minimum 12 months to maximum 60 months

Table Showing EMI, Interest Outgo, and Total Repayment Amount

LOAN AMOUNT INTEREST RATE TENURE MONTHLY INSTALMENT TOTAL INTEREST AMOUNT TOTAL AMOUNT
₹ 2,00,000 14% 1 ₹ 17,957 ₹ 15,489 ₹ 2,15,489
₹ 2,00,000 14% 2 ₹ 9603 ₹ 30,462 ₹ 2,30,462
₹ 2,00,000 14% 3 ₹ 6836 ₹ 46,079 ₹ 2,46,079
₹ 2,00,000 14% 4 ₹ 5465 ₹ 62,334 ₹ 2,62,334
₹ 2,00,000 14% 5 ₹ 4654 ₹ 79,219 ₹ 2,79,219

EMI, Total Interest Outgo, Total Repayment (Interest + Principal)

LOAN AMOUNT INTEREST RATE TENURE MONTHLY INSTALMENT
₹ 2,00,000 14% 1 ₹ 17,957
₹ 2,00,000 14% 2 ₹ 9603
₹ 2,00,000 14% 3 ₹ 6836
₹ 2,00,000 14% 4 ₹ 5465
₹ 2,00,000 14% 5 ₹ 4654

ICICI Bank Personal Loan Features

ICICI Bank’s personal loan can help you realize your dreams of having that perfect wedding to buying your dream car. The loan can also help in meeting unexpected expenses and medical emergencies too. Following are some of the key features:
  • Easy Application: You can apply for our instant Personal Loans online; we let you know if you are eligible within just 2 minutes. You can also make use of our personal loan eligibility calculator and find out if you qualify for a loan.
  • High Disbursal Amount: Our quick Personal Loan is available for salaried individuals and self-employed professionals. You can borrow from Rs 1 Lakh to Rs 25 Lakhs basis your eligibility.
  • Flexible Tenures:You can repay your Personal Loan in tenures ranging between 1 and 5 years.*
  • Borrow more if you need: You can borrow more money by using the top-up facility available for existing users.

Check your Eligibility

Check your eligibility

Home Loan Interest Rates October 2020
Axis Bank 7.75% – 8.55%
Bank of Baroda 7.00% – 8.40%
Citibank 8.20%
HDFC 6.90% – 7.65%
ICICI Bank 6.95% – 8.05%
Indiabulls Housing Finance Limited 8.80% – 11.05%
Kotak Bank 7.20% – 9.30%
LIC Housing 6.90% – 7.90%
Piramal Capital & Housing Finance 9.00% – 9.10%
PNB Housing Finance 7.90% – 9.20%
Reliance Home Finance 8.75% – 14.00%
State Bank of India/SBI 6.95% – 7.60%
Tata Capital 9.20% – 9.35%

Eligibility Criteria for Salaried Individuals

  • Age:- Minimum 23 years to 60 Years.
  • Salary:- Minimum 17,500/-pm.
  • Mumbai and Delhi Residents:- Salary should be 25,000/-pm.
  • Metro City Residents:- Salary should be 20,000/-pm (Residents of Bangalore, Chennai, Hyderabad, Kolkata or Pune).
  • Work Experience:- The applicant must have a total work experience of 2 or more years.

Eligibility Criteria for Self Employed Individuals

  • Age :- Minimum 28 years to 65 Years.
  • Doctors :- For professional doctor the minimum age is 25 years and they should be in the business for at least 3 years.
  • Professional’s Turnover :- Professional’s minimum turnover should be 15,00,000/-.
  • Business Turnover :- Professional’s minimum turnover should be 40,00,000/-.
  • Self-Employed Profit :- Professional’s minimum turnover should be 2,00,000/-.
  • Business Period :- Applicant should be in the current business for a minimum of 5 years.