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# ICICI Personal Loan EMI Calculator - May 2017

Last Updated 23rd May 2017

## ICICI Bank Personal Loan Calculator

Lowest EMI on ICICI Bank Personal Loan - Rs. 2,204 per lakh

Loan Tenure
Loan Amount (Rs.) 2 Years 3 Years 5 Years
100,000 Rs. 4,688 Rs. 3,302 Rs. 2,204
300,000 Rs. 14,065 Rs. 9,906 Rs. 6,611
500,000 Rs. 23,441 Rs. 16,509 Rs. 11,019
1,000,000 Rs. 46,882 Rs. 33,019 Rs. 22,038
Personal Loan EMI Calculator
Rs.

### Factors affecting ICICI Personal Loan EMI

• Borrower age should be between 23 years to maximum 58 years.
• Maximum personal loan amount offered by ICICI Bank is upto Rs. 2,000,000.
• Interest rates range from 11.59% to 22.00% depending upon customer profile, loan amount and other factors.
• Processing fee in ICICI Bank may be Upto 2.25% of loan amount.

### ICICI Personal Loan EMI

• Personal Loan EMI (or equated monthly installment) is a fixed amount of money paid by you to ICICI Bank against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
• With ICICI Bank offering Personal Loans with loan tenure upto 5 years, the loan EMI can be as low as Rs. 2,204 per lakh, to make it more affordable and convenient to meet your personal needs. Rate of interest offered by ICICI Bank are as low as 11.59%.
• This EMI consists of both interest payment and principal repayment. Though the EMI amount will remain constant, the principal component keeps increasing and on the other hand the interest component keeps reducing.

### ICICI Bank Personal Loan calculator formula

P*r* (1+r)^n/([(1+r)^n]-1)

Here is an illustration of how ICICI Bank Personal Loan EMI is calculated:

In above formula,

P = Loan amount. This can range from Rs. 100,000 to Rs. 2,000,000

r = Rate of interest per month. Current rate is 11.59%

n = tenure in month. For ICICI Bank, this can be 60 months

### Personal loan EMI calculator ICICI - How it works?

• ICICI Bank personal loan calculator calculates EMI considering a combination of loan amount, interest rate and loan tenure.
• ICICI Bank personal loan calculator considers “reducing balance basis” and assumes that payment of EMI is made in arrears (means interest is charged for the month preceding the EMI payment date) and not in advance.

### Personal Loan EMI - EMI Changes in case of prepayment

In case you prepay your personal loan, the outstanding balance on your personal loan reduces. ICICI gives you two options:
• Reduce the amount of EMI and keep your loan tenure same
• It is better to keep the EMI constant and reduce the loan tenure as you pay less interest to the ICICI in this option.

#### Frequently Asked Questions on ICICI EMI Calculator

What is the lowest EMI per lakh offered by ICICI Bank on personal loan?

ICICI Bank offers personal loan at 11.59% interest rate and hence lowest EMI on per lakh loan amount is Rs. 2,204.

Can I prepay my ICICI Bank personal loan?

ICICI Bank offers you an option of prepayment after 6 months at 5% of outstanding principal.

Is there any processing charge on personal loan from ICICI Bank?

Personal Loan from ICICI Bank charges a processing fee of Upto 2.25%.

#### ICICI Bank Personal Loan EMI Calculator Customer Care Number, Email, Application Status, Branches

City Customer Care Number
Agra 808-166-7777
Ambala 901-766-7777
Anand 800-066-7777
Bangalore 080-33667777/ 080-44455000
Bhilai 909-866-7777
Bhilwara 787-766-7777
Bhopal 0755-3366777
Bhubaneswar Cuttack 0674-3366777
Bikaner 787-766-7777
Chandigarh 0172-3366777/ 0172-4445500
Chennai 044-33667777/ 044-44455000
Cochin 902-066-7777
Coimbatore 0730-566-7777
Delhi 011-33667777/ 011-44455000
Durg 909-866-7777
Gandhinagar 800-066-7777
Goa 902-166-7777
Greater Noida 808-166-7777
Gurgaon 0124-3366777/ 0124- 4445500
Guwahati 986-466-7777
Gwalior 909-866-7777
Indore 909-866-7777
Jabalpur 909-866-7777
Jaipur 0141-3366777/ 0141-4445500
Jalandhar 730-766-7777
Jodhpur 787-766-7777
Kanpur 808-166-7777
Karnal 901-766-7777
Kolhapur 902-166-7777
Kolkata 033-33667777/ 033-44455000
Kota 787-766-7777
Kozhikode 902-066-7777
Lucknow 0161-3366777/ 0161-4445500
Ludhiana 730-766-7777
Meerut 808-166-7777
Mehsana 800-066-7777
Mohali Sas Nagar 730-766-7777
Mumbai 022-33667777/ 022-44455000
Mussoorie 808-166-7777
Nagpur 902-166-7777
Nashik 902-166-7777
Noida 808-166-7777
Noida Extn 808-166-7777
Panipat 901-766-7777
Patna 0612-3366777
Pondicherry 0730-566-7777
Pune 902-166-7777
Raipur 0771-3366777
Rajkot 800-066-7777
Ranchi 0651-3366777
Rohtak 901-766-7777
Roorkee 808-166-7777
Salem 0730-566-7777
Shimla 0177-3366777
Sonepat 901-766-7777
Surat 800-066-7777
Trichy 0730-566-7777
Udaipur 787-766-7777