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ICICI Bank Personal Loan EMI Calculator, Oct 2021

Last Updated 20th Oct 2021

  • Personal loan EMI in ICICI Bank depends upon loan amount, loan tenure, interest rate, monthly salary and company that you work for.
  • ICICI Bank Personal Loan EMI Calculator is an online tool to estimate monthly EMI and its division into principal and Interest during the entire loan tenure.
  • Lowest monthly EMI is ₹ 2,137 per lakh on ICICI Bank personal loan as calculated using the lowest interest rate of 10.25% for the longest tenure of 60 months.
  • For example, the table below gives the EMIs on ICICI Personal Loan at different loan amounts and loan tenure, if taken at the lowest rate.
Loan Amount1 Year Loan3 Year loan5 Year loan
₹ 1 Lakh₹ 8,803₹ 3,238₹ 2,137
₹ 5 Lakh₹ 44,016₹ 16,192₹ 10,685
₹ 10 Lakh₹ 88,032₹ 32,385₹ 21,370

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Personal Loan EMI Calculator ICICI

ICICI Bank Personal Loan EMI is a fixed amount of money paid by you to ICICI Bank based on your loan amount, tenure and interest rate. Every month, it is due on a fixed day of the month till the loan is fully paid back. You can calculate your ICICI Bank personal loan EMI in advance, to plan your loan payments and further expenses, using the Personal Loan EMI Calculator ICICI. The calculator functions on a mathematical algorithm and gives accurate results in no time.

Why should you use ICICI Bank Personal Loan EMI Calculator?

  • Calculate the EMI within your budget: Helps you compare the EMIs with a different loan amount and tenure. Always talk to the bank to know the interest rate you will be eligible for ICICI Bank personal loan which can range between 10.25% to 22.00%.
  • Compare ICICI Bank personal Loan EMI: Helps you compare the estimated EMI on a personal loan from ICICI Bank with that of leading banks in India using the same loan amount of upto ₹ 30 Lakh for a maximum tenure of 60 months, but at different interest rates.
  • Calculate interest on ICICI Bank personal loan: You can calculate the split of total EMIs into interest and principal repayment on your loan from ICICI over the loan tenure.
  • Detailed amortisation schedule: This allows you to see the pace at which your principal amount will be repaid during the loan tenure month on month. This is helpful if you decide to prepay your loan at ICICI or balance transfer to another bank.

ICICI Bank Personal Loan EMI Calculator to Estimate the EMI that Fits your Budget

Input different loan amounts and tenure at the eligible interest rate on ICICI Bank Personal Loan EMI calculator to calculate various EMIs at different rates and tenure. The table captures the calculation of ICICI Bank Personal Loan EMI Calculation at the various combinations of loan amount and years when taking at the lowest rate of 10.25%. So if you think that you can afford to pay an EMI of ₹ 10,000 in your budget, taking a ₹ 3 Lakh loan for 3 years or ₹ 5 Lakh loan for 5 years, maybe the right ICICI Bank personal loan plan for you.Personal Loan EMI is calculated for ICICI for different loan amounts and tenures at the rate of 10.25%.

Loan Amount (Rs.)2 Years3 Years5 Years
1 Lakh ₹ 4,626 ₹ 3,238 ₹ 2,137
3 Lakh ₹ 13,878 ₹ 9,715 ₹ 6,411
5 Lakh ₹ 23,130 ₹ 16,192 ₹ 10,685
10 Lakh ₹ 46,260 ₹ 32,385 ₹ 21,370

Factors Affecting ICICI Bank Personal Loan EMI

  • Loan amount – You will pay a higher EMI for the higher loan amount. ICICI Bank gives a minimum loan of ₹ 50,000 and a maximum loan amount of ₹ 30 Lakh.
  • Interest rate - Higher interest rate increases your loan EMI as well as the total cost of the loan. ICICI Bank personal loan interest rate for salary account holders can be lower than their quote rates, which can reduce the overall cost of loan and EMI. Lowest interest rate offered by ICICI Bank is 10.25%. However, it is advisable to do complete market research and compare rates online before you apply for a loan.
  • Loan tenure – This is the period over which you can repay your loan in ICICI Bank. So, your EMI will be lower if you take a 60months loan from ICICI Bank as compared to a loan taken for 12months. The logic being that if you get a longer period to repay, you can repay in a smaller instalment.

Comparison of ICICI Bank Personal Loan EMI with other Banks

Bank Name Interest Rate Loan Amount of ₹ 1 Lakh Loan Amount of ₹ 5 Lakh Loan Amount of ₹ 10 Lakh
ICICI Bank10.25% ₹ 8,803 ₹ 44,016 ₹ 88,032
Kotak Bank 10.25% ₹ 8,803 ₹ 44,016 ₹ 88,032
HDFC Bank 10.25% ₹ 8,803 ₹ 44,016 ₹ 88,032
Axis Bank 10.49% ₹ 8,814 ₹ 44,072 ₹ 88,144
IndusInd Bank 10.49% ₹ 8,814 ₹ 44,072 ₹ 88,144

ICICI Bank Personal Loan Amortization Calculator

ICICI Bank Personal Loan amortization schedule gives a break up of your monthly EMI into interest and principal repayment. ICICI Bank gives you a detailed amortisation schedule with the sanction letter and you can calculate the total interest outgo as well as the pace at which your loan amount will be repaid during the loan tenure.

How to read an amortization schedule

Suppose if you take a Personal Loan of ₹ 3.50 Lakh for 3 years from ICICI Bank at an interest rate of 10.25%. EMI calculated for this loan amount is ₹ 11,335 and the total annual EMIs to be paid annually is ₹ 1,36,016. The EMI schedule of loan for 3 years is explained below in the table –

Amortization Schedule for a Personal Loan of ₹ 3.50 Lakh over the 3 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2021 ₹ 8,754 ₹ 25,250 ₹ 34,004 ₹ 3,24,750
2022 ₹ 28,321 ₹ 1,07,695 ₹ 1,36,016 ₹ 2,17,055
2023 ₹ 16,748 ₹ 1,19,267 ₹ 1,36,016 ₹ 97,788
2024 ₹ 4,224 ₹ 97,788 ₹ 1,02,012 ₹ 0

In the above illustration, on a ICICI Bank Personal Loan of₹ 3.50 Lakh, taken at the lowest interest rate of 10.25, EMI paid is ₹ 11,335 and an annual total of EMIs is ₹ 1,36,016, the interest component is ₹ 31,034 while the principal component is ₹ 1,04,982 in year 1 of loan disbursement. You repay only 29.99% of the total principal after paying 12 EMIs during the first year.

ICICI Bank Personal Loan Interest Calculator Formula

ICICI Bank calculates personal loan EMI based on the following formula

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

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

In the above formula,

P = Loan amount.ICICI Bank personal loan amount can range from ₹ 50,000 to ₹ 30 Lakh.

r = Rate of interest per month. The current ICICI Bank Personal Loan rate is 10.25%.
n = Tenure in month. This can range up to 60months in case of ICICI Bank.

How to use ICICI Bank Personal Loan EMI Calculator

  • ICICI Bank personal loan calculator are online tool which give out EMI calculations using a combination of loan amount, interest rate and loan tenure.
  • ICICI Bank EMI calculator considers “reducing balance basis” and assumes that payment of EMI is made in arrears meaning interest is charged for the month preceding the EMI payment date and not in advance.

ICICI Bank Personal Loan EMI for ₹ 1 Lakh

The following table shows ICICI Bank Personal Loan EMI for ₹ 1,00,000 for different tenures at an interest rate of 10.25%

Loan AmountInterest RateTenure(Year)EMI
₹ 1,00,00010.25% 1₹ 8,803
₹ 1,00,00010.25% 2₹ 4,626
₹ 1,00,00010.25% 3₹ 3,238
₹ 1,00,00010.25% 4₹ 2,548
₹ 1,00,00010.25% 5₹ 2,137

ICICI Bank Personal Loan EMI for ₹ 3 Lakh

The following table shows ICICI Bank Personal Loan EMI for ₹ 3,00,000 for different tenures at an interest rate of 10.25%.

Loan AmountInterest RateTenure(Year)EMI
₹ 3,00,00010.25% 1₹ 26,410
₹ 3,00,00010.25% 2₹ 13,878
₹ 3,00,00010.25% 3₹ 9,715
₹ 3,00,00010.25% 4₹ 7,645
₹ 3,00,00010.25% 5₹ 6,411

ICICI Bank Personal Loan EMI for ₹ 5 Lakh

The following table shows ICICI Bank Personal Loan EMI for ₹ 5,00,000 for different tenures at an interest rate of 10.25%.

Loan AmountInterest RateTenure(Year)EMI
₹ 5,00,00010.25% 1₹ 44,016
₹ 5,00,00010.25% 2₹ 23,130
₹ 5,00,00010.25% 3₹ 16,192
₹ 5,00,00010.25% 4₹ 12,741
₹ 5,00,00010.25% 5₹ 10,685

ICICI Bank Personal Loan EMI for ₹ 10 Lakh

The following table shows ICICI Bank Personal Loan EMI for ₹ 10,00,000 for different tenures at an interest rate of 10.25%.

Loan AmountInterest RateTenure(Year)EMI
₹ 10,00,00010.25% 1₹ 88,032
₹ 10,00,00010.25% 2₹ 46,260
₹ 10,00,00010.25% 3₹ 32,385
₹ 10,00,00010.25% 4₹ 25,483
₹ 10,00,00010.25% 5₹ 21,370

How to Pay ICICI Bank Personal Loan EMI?

There are various online & offline methods to pay your ICICI Bank Personal Loan EMI. To repay your ICICI Bank EMI online, you can log in to your net banking account or else you can also use the mobile banking of ICICI Bank. ICICI Bank also allows you to pay EMI through ECI or standing instructions or a cheque facility by visiting the nearest ICICI Bank branch.

FAQs

Why should I calculate ICICI loan EMI before taking a loan?

It is advised to calculate personal loan EMI in advance before taking a personal loan. There are several benefits of calculating your ICICI Bank personal loan EMI. For instance, if you want to avail ICICI Bank personal loan at the lowest rate of 10.25% and your monthly EMI, which comes out at ₹ 2,137 is more than your monthly budget. You have the chance to apply for a lower loan amount that fits your monthly budget and makes EMI easily affordable. In addition, if you already know the EMI you have to pay each month, you can plan your expenses accordingly. Finally, based on the EMI amount, you can opt to make a prepayment of your loan in the future when you have a surplus amount.

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

ICICI Bank offers a personal loan at a 10.25% interest rate for a maximum of 60 months, and hence lowest EMI per lakh loan amount is ₹ 2,137. However, ICICI Bank may offer a lower interest rate to you if you hold your salary account with the bank or if you are an existing customer.

How can I pre-close ICICI Bank personal loan?

You can pre-close your ICICI Bank personal loan by visiting the branch with the required set of documents. Submit the form of preclosure, pay the amount and take the acknowledgement of the balance amount that you have paid.

What are the prepayment charges on ICICI Bank ?

ICICI Bank offers you an option of prepayment after 6 months at 5%.You have to pay these charges if you decide to pay the loan amount before the due date.

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

Yes, ICICI Bank charges a certain amount of processing fee to process your loan application. Currently, ICICI Bank charges a processing fee of Upto 2.25% of Loan Amount on a Personal Loan.

Will I get a personal loan from ICICI Bank if I have a bad credit score?

No, for taking a loan from ICICI Bank, you must have a good credit score of 700 and above. Usually, most banks avoid giving loans if you have a low credit score.Also, availing a personal loan at low cibil score might fetch you a high ICICI Bank personal loan rate.

What is the EMI for a₹ 20 Lakh personal loan in ICICI Bank Bank?

At the current rate of 10.25%, EMI on ICICI Bank personal loan for loan amount ₹ 20 Lakh varies based on the loan tenure. For instance, for 2 year, 3 year and 6 years, EMI is ₹ 2,17,743, ₹ 2,29,547 and ₹ 2,66,856 respectively.

Can I have a co-applicant while applying for a Personal loan with ICICI Bank ?

Yes, you can opt for a co-applicant to take a personal loan from ICICI Bank that will increase your loan eligiblity as the income of the co-applicant is also taken into account.

Can we pay more than EMI in ICICI Bank personal loan?

If you have funds, then you can pay more than the regular EMI on your ICICI Bank Personal Loan. This will reduce your interest burden along with the outstanding principal. You can also pay one additional EMI every year to reduce loan tenure and in turn interest amount.

How can I pay my ICICI Bank loan EMI?

You can pay the ICICI Bank personal Loan EMI by using the ECS facility or standing instruction. You can also visit the branch and submit the EMI cheque or can opt for automated deductions from your salary account.

Compare Personal Loan EMI of All Banks

ICICI Bank Personal Loan Customer Care Number, Email, Application Status, Branches
City Customer Care Number
Agra 808-166-7777
Ahmedabad 079-33667777/ 079-44455000
Ambala 901-766-7777
Anand 800-066-7777
Aurangabad Bihar 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
Sonipat 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

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ICICI Personal Loan News - Oct 2021
  • 2021-10-01 : ICICI Bank Revises Instant Personal Loan Rates
    ICICI Bank has revised instant personal loan rates under their festival bonanza offer. The loan is offered at 10.25% and a flat processing fee of Rs 1,999.
  • 2021-08-24 : ICICI Bank reduces Personal Loan Rates
    ICICI Bank has reduced the rates of personal loans from 10.50% to 10.25%. The bank is also charging processing of Rs. 3999 on its personal loans.
  • 2021-07-09 : ICICI Bank Q1 Net Profit seen up 59.1% YoY to Rs. 4,136.5 crores
    Motilal Oswal has come out with its first-quarter earnings estimates for the Banks and Insurance sector. The brokerage house expects ICICI Bank to report a net profit of Rs. 4,136.5 crore up 59.1% year-on-year on all products combined including Personal Loan, Home Loan, Loan Against Property, Business Loan, Gold Loan, and Car Loan. Net Interest Income (NII) is expected to increase by 15.6% Y-o-Y to Rs. 10,731.6 crore.
  • 2021-06-16 : ICICI STACK launched by ICICI Bank for Corporates
    ICICI Bank announced the launch of ICICI STACK for Corporates. This will provide customised digital banking services to companies in over 15 leading industries. ICICI STACK is going to offer digital banking solution banking solutions to corporates to seamlessly meet their banking requirements.
  • 2021-04-27 : ICICI Bank reported a massive hike of 261% in its Q4 profits
    ICICI Bank reported a 260% jump in its net profit at Rs 4,403 crore for the quarter ended March 31, 2021. The profit was boosted by retail loans like home, LAP, personal, two-wheeler, car, education and doctor loan along with business and mudra loan. Further, the bank reported a total income of Rs 23,953 crore in January-March from Rs 23,443.66 crore in the year-ago quarter.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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