4,80,000 people visited this section in last 30 daysApply Online

Get Cashback of Upto ₹ 1,000* on Personal Loan Apply Online

MyLoanCare Customer Ratings - 4.5/5.0 Apply Online

ICICI Personal Loan

Online ICICI Personal Loan: Highlights

Last Updated 20th Jan 2022

Apply for Personal Loan @ 10.25%* Get upto ₹ 1,000* Cashback Fix Branch Appointment

ICICI Personal Loan Details

Personal Loans by ICICI are available for salaried working with the MNCs in government or private sector, and self-employed professionals such as doctors or CAs within the age group of 23 to 58 years. You can avail of a loan for an amount ranging from ₹ 50,000 to ₹ 30,00,000 for a period of 12 months to 60 months.
The interest rate on ICICI online personal loans ranges from 10.25% to 22.00%. Hence, the lowest EMI per lakh works out to be ₹ 2,137, as calculated on the lowest rate and longest loan tenure. ICICI bank also charges processing fees of Upto 2.25% of Loan Amount of the loan amount. Further, ICICI Bank allows personal loan foreclosure and part prepayment after 6 months with charges of 5%. The bank also has various other post loan disbursement charges, including

  • Cheque Bounce Charges - ₹ 400+GST
  • Loan Cancellation Charges - ₹ 3000 + GST
  • Other Charges - ₹ 500 + GST

Schemes of ICICI Bank as offered to a different types of borrowers in 2021 are:

Features and Benefits for ICICI Personal Loans

ICICI Bank personal loan helps you fulfil diverse financial needs such as marriage expenses, paying medical bills, renovating house etc. Below-mentioned are some features for ICICI personal loans.

  • Offer Multiple Personal Loans for Diverse Needs: The ICICI bank offers different types of personal loans such as wedding loans, holiday loans, home renovation, top-up loan and fresher funding.
  • Instant Disbursal: The ICICI personal loan apply online process is prompt and ensures you have a smooth borrowing experience. Once the application is approved, ICICI bank credits the funds instantly to your bank account. Also, you can get instant e-approval if you have a good credit history.
  • Track your Status Online: The online services of ICICI bank allows you to track the status of your personal loan application online. In case of any queries, you can further get assistance 24*7.
  • Flexibility to choose loan tenure: ICICI Bank provides you with the flexibility to choose the loan tenure per your needs. You can avail of ICICI personal loans ranging from 12 to 72 months.
  • ICICI Bank Balance Transfer: With the ICICI balance transfer facility, you can avail of top-up and hassle-free transfers at attractive rates. The bank also provides you with an increased tenure.
  • Request a Call Feature: ICICI Bank also offers a unique "request a Call" facility through which you can provide all your details such as name, pin code and phone number. The bank will then give you a call regarding any assistance with a personal loan.

ICICI Personal Loan Documents

The documents required for a personal loan in ICICI varies based on your occupation. However, to avail personal loan from ICICI Bank, you need to submit the documents as mentioned below:

List of ICICI Personal Loan Documents for Salaried

  • 2 Passport Size photographs.
  • Passport / Driving License / Voters ID / PAN Card as identity proof
  • Leave and License Agreement / Utility Bill / Passport for not more than three years old as proof of residence
  • Latest three months Bank Statement
  • Salary slips for the last three months.

ICICI Personal Loan Documents Required for Self-employed

  • Passport / Driving License / Voters ID / PAN Card as identity proof
  • Leave and License Agreement / Utility Bill / Passport for not more than three years old as proof of residence
  • Audited financials for the last two years as income proof.
  • Last six months bank statement
  • Residence proof or proof for office ownership
  • Proof of business continuity
  • Date of Birth Proof

What are the Different Types of ICICI Bank Personal Loan Schemes?

ICICI Bank offers different types of personal loan schemes for specific customer segments. Some of the popular products with their basic features are as follows:

Holiday Loans
  • If you want to get finance for a dream vacation with your family or friends, you can avail of ICICI Bank Personal Loan for travel at attractive rates starting at 10.25% for a loan amount ranging from Rs. 25000 to Rs. 25 Lakhs.
Loan for Home Renovation
  • If you want to get finance for your home renovation, you avail of ICICI Home Renovation loan at rates starting at 10.25% for a loan amount ranging from Rs. 25000 to upto Rs. 25 Lakhs. The benefits of a personal loan for home renovation includes minimum documentation, no security/collateral requirement.
Marriage Loans
  • You can take an ICICI wedding loan starting at a 10.25% rate of interest p.a. to finance your wedding at no hidden costs. Other Benefits of ICICI Personal Loan for a wedding includes minimum documentation, no requirement for security. Under this scheme, you can avail of loans for an amount upto Rs. 25 Lakhs.
Top Up Loan
  • If you have an existing personal loan and require more funds, you can avail personal top-up loan from ICICI Bank. You do not require any security/collateral, and the loan processing is quick and requires minimum documentation for such a loan. Also, you can avail of ICICI Bank Top-up Loan for an amount ranging from ₹ 50,000 to ₹ 25 Lakhs.
Fresher Funding
  • If you have landed a new job and require funds for your dreams or fulfilling any personal or business need, you can avail of ICICI Bank Fresher Funding for an amount upto Rs. 1.5 Lakhs. To get this age, you should have a minimum age of 18 years.
Personal Loan for NRIs
  • ICICI Bank also offers a Personal Loan for NRIs for loan amount upto Rs. 10 Lakhs for a maximum tenure of upto 36 months. The rate of Interest for NRI Personal Loan starts at 15.49%. However, you must be a resident Indian with the co-applicant NRI to be a close relative to avail funds.
  • The bank also offers personal loans against the ICICI credit cardholders based on their credit history and spending patterns. As a result, you can avail upto Rs. 20 Lakhs for a flexible tenure of upto 60 months. The Interest rates are offered in the range of 14.99%-15.99% with minimum documentation.

ICICI Bank Personal Loan Eligibility

To avail personal loan from ICICI bank, you need to fulfill the eligibility criterias as mentioned below:

Parameters Salaried Self-Employed
Age 23 years - 58 years 28 years (self employed individuals) and 25 years (for doctors); Maximum age - 65 years
Net Salary Minimum monthly income Rs.30,000 ₹ 40 lakh for non-professionals; ₹ 15 lac for professionals; as per audited financials
Experience Total years in job/profession- 2 Years In current business for at least 5 years and minimum 3 years for doctors
Others Years in current residence- 1 Year Minimum Profit-₹ 2 lac for Proprietorship Firm/Self employed Individuals and ₹ 1 lac for non-professionals as per audited financials

How to Get the Best Offer on ICICI Bank Personal Loan?

To get the best offer on ICICI personal loan, you need to keep in mind the following points:

  • Interest Rates: ICICI personal loan starts at 10.25%, and depends on various factors such as CIBIL score, good repayment history, debt-income ratio etc. It is thus essential that you repay your existing dues if there are any and provide all sources of income.
  • Other Charges: To reduce the cost of borrowing, you must carefully check all the fees & charges on your loan. You can always negotiate with the bank to get the lowest EMI burden. Other charges on ICICI personal loan are ICICI personal loan processing fee, Prepayment Charges, Late Payment Penalty, Loan Cancellation Charges, Repayment Swap Charges and EMI Bounce Charges.
  • Approval Process: ICICI bank offers e-approval on a personal loan. If you are an existing bank customer, you can easily get approval on your loan with attractive personal loan rates. The Bank also offers pre-approved personal loans if you are an existing customer and have paid all your dues on time.

How to Apply for a Personal Loan in ICICI Bank?

You can apply for an ICICI personal loan through the ICICI Bank official website, or else you can also visit the bank branch, fill out the form, and submit it at the nearest bank branch. Furthermore, to avail best offers and rates, you can apply for a personal loan at MyLoanCare. Below-mention is the step-by-step guide to avail of a personal loan:

  • Step 1: Visit Personal Loan Application Form
  • .
  • Step 2: Fill in the form with necessary details like name, pin code, phone number, loan amount.
  • Step 3: Click on 'Get Quote'.
  • Step 4: Fill the OTP and click 'Submit.
  • Step 5: Provide a few more details to get customised offers. Fill in the details and click 'Submit.
  • Step 6: Compare your eligible offers and select the one that meets your requirements.
  • Step 7: Get assistance from our loan advisors or choose to complete the online personal loan journey to get instant loan approval and disbursal.

About ICICI

ICICI Bank is a leading private sector bank in India that offers a wide range of banking products and financial services to corporate and retail customers through various delivery channels and its group companies. The bank currently has 5,288 branches and 15,158 ATMs across India and has a presence in 17 countries. Currently, Mr. Mr. Sandeep Bakhshi is the CEO of the ICICI Bank.

  • Main Branch Address: ICICI Bank Limited, Landmark, Race Course Circle, Vadodara-390007.
  • CEO Name: Mr. Sandeep Bakhshi
  • Compliance Officer: Mr. Anish Madhavan
  • Compliance Officer Number: 022-26538027
Illustration on Personal Loan ICICI
Maximum Annual Percentage Rate (APR) 10.7% to 22.45%
Representative example of the total cost of the loan, including all applicable fees
Here is an illustration of the total cost of the loan:
  • Total amount borrowed: ₹ 1,00,000
  • Time period: 12 Months to 60 Months
  • ICICI Bank Personal Loan Interest Rate: 10.25% to 22.00%
  • Processing Fee payable to: Upto ₹ 2,250
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From ₹ 2,137 for 60 Months ₹ 1,00,000 loan at 10.25% (lowest rate, longest time period) to ₹ 9,359 for 12 Months ₹ 1,00,000 loan at 22.00% (highest rate, shortest time period). This is inclusive of principal repayment.
  • Annual Percentage Rate (APR) of charge including all applicable fees: 10.7% to 22.45%
  • Total cost payable over loan tenure: ₹ 1,07,889 for 12 Months loan to ₹ 1,30,472 for 60 Months loan

Personal Loan from Other Banks in India

FAQs

How much time will ICICI Bank take to make a decision on my personal loan?

ICICI Bank generally convey its decision on a loan within 15 days of submitting a loan application. However, the bank also offer instant loan offers, which can be approved within a few hours to 2-3 days or even a few hours, dependending on the customer relationship with the bank.

Why should I take a personal loan from ICICI Bank?

ICICI offers the following features and benefits on a personal loan. (i) Online approval & disbursal during Covid (ii) Special offers for top corporates (iii) Waiver on Pre payment after 12 EMIs (iv) Top up facility available (v)Balance transfer facility available at 10.75%

How much interest is charged by ICICI Bank on personal loan?

Personal loan interest rates in ICICI Bankare 10.25% to 22.00%. ICICI Bank personal loan interest rates for salary account holders and existing customers are comparatively lower than that for other customers.

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

If you apply for a loan from ICICI Bank, your lowest Personal Loan EMI per lakh will be ₹ 8,803 as per the lowest interest rate of 10.25% and longest tenure of 60 months.

What is the minimum and maximum tenure of personal loan in ICICI Bank?

ICICI Bankpersonal loan has a minimum tenure of 12 months to maximum 60 months. This however may vary as per the ICICI personal loan scheme and your eligibility.

How much personal loan amount I can borrow from ICICI Bank?

ICICI Bankoffers you a loan if you need a minimum amount of ₹ 50,000 to a maximum amount of ₹ 30 Lakh . However, the loan amount is sanctioned as per your income , and cibil score. ICICI Banks do consider parameters such as FOIR before granting a personal loan.

Can I add my spouse's income while applying for personal loan from ICICI Bank?

Yes, you can add the income of your spouse to increase your Personal Loan Eligibility and to get a higher loan amount from ICICI . In this case, ICICI Bankwill check your spouse’s CIBIL score and may require all income and bank statements for verification purpose before granting a loan.

How to get a personal loan from ICICI Bank?

You can get a personal loan from ICICI Bankby directly visiting the nearest branch or can apply online at their website. Apart from these, you can easily apply for the ICICI Personal loan at MyLoanCare website where you can do a comparison of all loan details related to rates and charges, customer service etc before deciding to proceed with ICICI’s application process.

How can I check my ICICI Bankpersonal loan status?

You can check the status of your loan online using an application number and registered mobile e at ICICI Bank's website. In case you are unable to track your application online, you can get ICICI Bankloan assistance at ICICI Bank loan customer care centre and ask them to help you out with the status. If you have applied for the loan through MyLoanCare, you can check the status of your application by logging into MyLoanCare account.

What is the importance of credit score if I wish to avail a ICICI Bankpersonal loan ?

It is important to have a good credit score if you wish to apply for a personal loan from ICICI Bank. A credit score above 750 is considered good for a personal loan. A low credit score increases the chances of rejection of your application or personal loan at a higher rate.

Is there security or collateral needed to get a personal loan from ICICI Bank?

No, ICICI Bankdoes not require any collateral or security to lend you the personal loan as it is an unsecured loan.

Can I close my ICICI Bank personal loan after 1 year?

You can close your personal loan from ICICI Bankafter 6 months by paying charges of 5%

Can I negotiate with ICICI Bank on the personal loan interest rate?

Yes, you should negotiate for a rate discount when you apply for a personal loan with ICICI bank. You may end up getting a better rate from the bank if you have applied for a high loan amount and fulfill all eligibility parameters related to income, cibil score, occupation etc.

How to pay your ICICI Bankpersonal loan EMI?

You can pay your ICICI Bankpersonal loan EMI by using ECS facility or through Standing Instruction that may pro,pt automatic deductions each month. ICICI Bankalso provides you the facility to pay your Personal Loan EMI online using net banking and mobile banking.

How much personal loan can I get from ICICI if my salary is 50000?

Your eligibility to get a personal loan from ICICI Bankdepends on factors such as CIBIL score, repayment history, debt-income ratio etc. If you have a salary of Rs. 50,000, you can get a maximum loan amount upto ₹ 30 Lakh. However, note that the bank considers factors such as FOIR to determine your loan amount eligibility. It usually ranges up to 20 to 27 times of your salary.

How much loan can you get under the scheme ICICI personal loans for govt employees?

If you work with Indian government or public sector undertakings, you can avail attractive rates and offers on an ICICI personal loan for govt employees for loan amounts up to ₹ 30 Lakh. Further, you can also get special offers on ICICI personal loans for pensioners.

What is the minimum CIBIL score for a personal loan in ICICI?

Your CIBIL is one of the essential parameters that determine your eligibility for a personal loan. To get a personal loan in ICICI, you must have a CIBIL score of 700. If you do not meet the above CIBIL score for ICICI personal loan, the bank may reject your application.

Does ICICI give instant loans?

Yes, you can get an ICICI instant personal loan online. However, the e-approval on the bank will be done only if you are an existing customer of the bank.

Can I repay a personal loan early in ICICI?

Yes, you can repay your personal loan account early. For example, if you are an MSME classified borrower and want to close your account using your funds, there are no penalty charges for prepayment. However, the bank charges 5% on principal outstanding plus GST if you are a salaried customer.

How can a housewife apply for a personal loan in ICICI?

A housewife can apply for a personal loan in ICICI Bankif she is engaged in freelancing activity or work and has a source of income. However, in case of the absence of any revenue, the bank may reject the personal loan application.

MyLoanCare Assurance

Bank Neutral Advice
No Unsolicited Call
Free Service and
Quality Response
Digital Doorstep Services
Delivery in 1100+ Cities
Attractive Cashback

ICICI Bank Personal Loan Reviews 4.5/5  by 308 customers
MyLoanCare Service
4.6/5.0
Banks Service
4.4/5.0
Ashwini, Koraput
Reviewed on 17th Jan 2022
5 / 5 stars
ICICI Bank Personal Loan Availed in Jan 2022

Great experience. Thanks. Very Cooperative. Strongly Recommend.Read more...

Gadhavi, Mehsana
Reviewed on 17th Jan 2022
5 / 5 stars
ICICI Bank Personal Loan Availed in Jan 2022

Good service from MyLoanCare. I will suggest in my friend circle when someone talks about personal lRead more...

Aditya, Thane
Reviewed on 13th Jan 2022
5 / 5 stars
ICICI Bank Personal Loan Availed in Jan 2022

One of the best loan services providers I have ever seen. Would recommend.Read more...

Sonu, Rewari
Reviewed on 06th Jan 2022
5 / 5 stars
ICICI Bank Personal Loan Availed in Jan 2022

Very supportive team. They provide the right info. Thank you very much. Read more...

Satish, Bangalore
Reviewed on 22nd Nov 2021
4.5 / 5 stars
ICICI Bank Personal Loan Availed in Nov 2021

The kind of support I received in this loan process from the MyLoanCare team is phenomenal. I shouldRead more...

Dhansukh, Valsad
Reviewed on 30th Oct 2021
4 / 5 stars
ICICI Bank Personal Loan Availed in Oct 2021

Good experience with MyLoanCare and ICICI bank.Read more...

Dileepa, Tumkur
Reviewed on 27th Aug 2021
5 / 5 stars
ICICI Bank Personal Loan Availed in Aug 2021

Ashish Kumar sir very helpful and made the whole process very smooth because of him now I am out of Read more...

Siva, Mahabubnagar
Reviewed on 19th Aug 2021
5 / 5 stars
ICICI Bank Personal Loan Availed in Aug 2021

MyLoanCare made my dreams possible. Thank you very much.Read more...

Notification ×
  • Home Loan

    Home Loan at all-time low rates starting at 6.50%. Cashback of up to ₹ 1,000

    Apply Now
  • Personal Loan

    Instant Personal Loan starting at 10.25% with Cashback of up to ₹ 1,000.

    Check Offers
  • Gold Loan

    Instant Gold Loan starting at 9.00% with Cashback of up to ₹ 500

    Apply Now
  • Loan Against Property

    Best Loan Against Property Offers starting @ 6.90%. Cashback of up to ₹ 1,000*.

    Apply Now
  • Business Loan

    Collateral Free Business Loan Rates starting at 14.00% with Overdraft facility.

    Apply Now
  • Fixed Deposit

    AAA rated FDs with returns as high as 7.05%.

    Invest Now
ICICI Personal Loan News - Jan 2022
  • 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
Loader
Please wait while your information is being processed...