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
|Interest Rates||10.99% – 22.00%|
|Loan Amount||INR 1 Lakh – INR 40 Lakh|
|Tenure||1 to 5 Years|
|Processing Fee||₹10,000 – 2.50% of the loan amount|
|Foreclosure Charges||5% on the principal outstanding amount|
ICICI bank Personal loan purposes:
- 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
- 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
- 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
|Home Loan Interest Rates October 2020|
|Axis Bank||7.75% – 8.55%|
|Bank of Baroda||7.00% – 8.40%|
|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.
Minimum annualized percentage rate is 10.5% to 26% with a flexible repayment period of 12 to 60 months. Also full repayment in 30 days or less is not allowed.