ICICI Bank Personal Loan

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icici bank logo



ICICI bank offers you one of the best personal loans at attractive interest rates starting at just 10.75%. Even the interest rate is charged on a reducing balance which means that every month interest will be calculated on the outstanding loan balance as reduced by the principal repayment made in last month.

You can avail a loan upto Rs 25 lakhs without any guarantor or collateral security. The tenure of the personal loan with this bank can be as long as 60 months.

For existing ICICI Bank customers, there are attractive benefits such as reduced documentation and automatic pre-eligibility( based on your relationship with the bank via a bank account, credit card, or a loan account).

 ICICI Bank Personal Loan Interest Rates
Ranging from 10.75% to 20%

Other Personal Loan Details

Loan Amount                               upto 25 Lakh

Processing Fee                             up to 2.25%

Late Fee                                       24% p.a

preclosure Charges                      5%

preclosure Condition                   preclosure can be made after the payment of 12 EMIs

Why You should Apply for ICICI Personal Bank

The interest rate is charged on a reducing balance which means every month the interest rate in calculated on the outstanding loan amount.
Lowest interest rate of 10.75%.
Your loan will be disbursed within 72 hours of documents submission.

Cons of ICICI Personal Loan

High preclosure charges of 5%.
Complex eligibility criteria.

Eligibility Criteria
EligibilitySalariedSelf Employed/Business
Age23 to 5825 to 65
Monthly Income/ProfitMinimum of Rs 17,500 (Rs.25,000 for applicants residing in Mumbai & Delhi)Minimum net profit of Rs. 2 lac
Minimum Work Experience2 years. Also tenure should be a minimum of 1 year with current employer.5 years at least in current business.
CIBIL Score700+700+
Documents Required
SalariedSelf Employed/Business
Application FormApplication Form
ID Proof, Address ProofID Proof, Address Proof
3 month salary slip with form 166 month Income report
3 Month bank statement3 Month bank statement

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