ICICI Personal Loan EMI Calculator - Mar 2017

ICICI Bank Personal Loan Calculator

Lowest EMI on ICICI Bank Personal Loan - Rs. 2,204 per lakh
Last Updated 23rd Nov 2016
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

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. 2,500,000.
  • 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 0.25% to 1.50%; Min - Rs. 999 of loan amount.
ICICI Bank Personal Loan EMI Calculator
X
MyLoanCare

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. 2204 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. 2,500,000
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?

  • This calculator calculates EMI considering a combination of loan amount, interest rate and loan tenure.
  • This 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 your loan tenure and keep your personal EMI same
  • 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% prepayment charges applicable.

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

Personal Loan from ICICI Bank charges a processing fee of 0.25% to 1.50%; Min - Rs. 999.

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

City Customer Care Number
Agra 808-166-7777
Ahmedabad 079-33667777/ 079-44455000
Ambala 901-766-7777
Anand 800-066-7777
Aurangabad 902-166-7777
Bangalore 080-33667777/ 080-44455000
Bhilai 909-866-7777
Bhilwara 787-766-7777
Bhiwadi 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
Dehradun 0135-3366777
Delhi 011-33667777/ 011-44455000
Durg 909-866-7777
Faridabad 901-766-7777
Gandhinagar 800-066-7777
Ghaziabad 808-166-7777
Goa 902-166-7777
Greater Noida 808-166-7777
Gurgaon 0124-3366777/ 0124- 4445500
Guwahati 986-466-7777
Gwalior 909-866-7777
Hyderabad 040-33667777/ 040-44455000
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
Madurai 0730-566-7777
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
Vadodara 800-066-7777
Varanasi 808-166-7777
Vijaywada 730-666-7777
Vizag 730-666-7777
ICICI Personal Loan EMI Calculator News - Mar 2017
11th Mar 17 ICICI Bank launches second season of its mobile app development challenge, ICICI Apathon
ICICI Bank has launched the second season of its mobile app development challenge named ICICI Apathon. The bank has launched this initiative to attract participation from young developers, technology startups, technology entrepreneurs and students for facilitating the creation of innovative banking application services. The leading credit card security partner of the bank, Visa has extended its support to the bank in organising Apathon.
10th Mar 17 ICICI Bank is not likely to reduce interest rates further
ICICI bank has denied the possibility of any further cut in interest rates across loan segments. The bank has taken the decision in view of unchanged repo rate in the sixth biannual monetary policy released by RBI. The bank is likely to wait for policy rate cut by RBI before taking any decision on further rate cuts. ICICI Bank has registered a decent growth of 12 and 18 percent in its domestic loans and retail loans respectively during third quarter of FY17.
10th Feb 17 Retail loan and consumer loan portfolio of banks and NBFCs surges during November and December, 2016
A report by Economic Times highlighted the positive impact of demonetisation on the retail loan and consumer loan portfolios of the banks and NBFCs during the month of November and December, 2016. As per the report, several banks and NBFCs including ICICI Bank, Central Bank, Bajaj Finance and Capital First have reported fairly strong growth in their consumer durable and personal loan portfolio during the months on November and December.
01st Feb 17 ICICI Bank registers a decline in its net profit during third quarter of FY17
ICICI Bank has registered a decline of 19 percent in its net profit at Rs. 2,441 crore in third quarter of FY17 as compared to Rs. 3,018 crore for the corresponding period a year ago. Non-interest income of the bank also declined and reached at Rs. 3,939 crore during the quarter as compared to Rs. 4,217 crore a year ago. However, the bank has registered a decent growth of 18 percent in its retail loan business during Q3 of FY17.
15th Mar 16 ICICI Bank launches Ferrari range of credit cards
ICICI Bank announced the launch of co branded credit cards with Italian luxury sports car manufacturer, Ferrari. The bank will issue two types of cards. The platinum card would have a joining fee of Rs 999 plus service tax, it would also have an annual fee of Rs 499 each year which would be waived off if spends in the previous year are of Rs 125000 or above. For the signature card, the joining fee is Rs 3,999 plus service tax, while the annual fee of Rs 999 each year would be waived off if spends in the previous year touch Rs 250000 and above.
*My Finance Care Advisors Pvt. Ltd., or https://www.myloancare.in is a bank neutral multi bank platform that helps borrowers and bank customers compare loans and deposits of all banks in India at one place. Information carried at this website is based on perusal of public sources and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not assure as to the correctness of information carried at the website. Lenders/ banks/ other parties may contact us at info@myloancare.in to provide corrections or updates. We may act as and/ or be associated with channel partners of banks and other sellers of financial products.