Purpose - Multipurpose loan to fulfill all personal needs such as marriage, travel expenses and many others.
Eligibility - Existing ICICI customers between the ages of 25 and 58 with minimum annual income of Rs. 1, 44, 000. They must be employees of public or private limited companies or MNCs with a minimum experience of 1 year in current job and a minimum residence of 1 year in current residence.
Quantum of loan - Upto a maximum of Rs. 15 lakhs.
Paperwork - Latest three months bank statements and salary slips. Proof of residence, identity and qualification. Proof of continuity at current job.
Service charges - Upto 2% of loan amount plus service tax.
Repayment - Option of paying back within 12 months to 60 months.
Prepayment - Possible after 180 days of availing the loan. Charges as applicable will be levied on the outstanding amount.
Other features - No security/ guarantor required.
Checklist before you opt for your Personal Loan
- Calculate your EMI to understand how it will affect your monthly budget
- Understand your Personal loan eligibility before you apply for a loan
- Compare the interest rates of various bank offers
- Evaluate the total loan cost (processing fee + service charges + total interest outflow) you would pay for each offer and zero in on the offer that gives you the least total interest outflow.
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