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    We found 1 ICICI Personal Loan Eligibility Calculator
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    ICICI Personal Loan Eligibility Calculator is Rated as "Great!" by 17334 Users

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    ICICI Personal Loan Eligibility Calculator

    ICICI Personal Loan Eligibility for Salaried and Self-Employed Applicants

    Particulars Salaried Self-Employed
    Age(Min-Max) 23 - 58 years 28 - 65 years. 25 years minimum age for Doctors.
    Minimum Income Rs.17,500 p.m. Rs.25,000 p.m. for applicants residing in Delhi and Mumbai. Rs.20,000 p.m. for applicants residing in Hyderabad, Chennai, Kolkata, Bangalore and Pune. Rs.40 Lakh for non-professionals. Rs.15 Lakh for professionals.
    Co-applicant Not required Not required
    Loan Tenure 12 - 60 months 12 - 60 months
    Maximum Loan Amount Rs.20 Lakh Rs.30 Lakh for self-employed. Rs.40 Lakh for Doctors.
    Employment/Business Continuity 2 years in current job 5 years in current business. 3 years of practice for Doctors.
    Continued Relationship with ICICI Not mandatory 1 year of liability (current or savings account) or Asset relationship (loan).

    ICICI Bank can offer a personal loan to self-employed persons under “Business Instalment Loan”.

    ICICI Bank has designed its personal loans to be totally flexible and customizable for you to use as you see fit. Whether it’s a marriage in the family, an overdue holiday, purchasing an expensive asset, meeting medical expenses or even funding your child’s education – ICICI banks personal loans have got you covered. With low interest rates and easy application processing, ICICI Bank’s personal loans are among the best in the market right now.

    Factors affecting Eligibility of ICICI Bank Personal Loans

    Your personal loan eligibility is directly linked to your credit-worthiness, financial standing, and (perceived) ability to repay the loan. Here are some factors that affect your ICICI personal loan eligibility :

    • Income. ICICI bank requires your income information to gauge how much of it you’ll be able to divert towards EMI payments. Generally, they don’t sanction loans whose EMIs will take a chunk larger than 50% of your monthly income. Higher your income, higher your loan amount – higher your chances of getting it approved.
    • Employment status. Applicants who’ve stayed at a company for a long time are more eligible as they will probably stay there for longer. Young salaried people take a few years to find a comfortable job that meets all their needs, this inconsistency reduces eligibility.
    • Type of employment. Salaried applicants get regular incomes on fixed dates and can have EMIs deducted directly from their salary accounts. Self-employed people must rely on market conditions and the demand for their products in order to earn an income. This is an inconsistent income that may sometimes not even be enough to meet the EMI payment requirement. Therefore, salaried employees and professionals are viewed more favorably.
    • Your age. Jumping jobs and exploiting opportunities while you’re young may be good for personal career growth, but is viewed as unstable behavior by ICICI bank. Older applicants are viewed as more stable candidates.
    • City of residence. Getting a loan sanctioned in metro cities is easier than in other cities. ICICI Bank requires you to have a higher salary if you apply for a personal loan from Bangalore, Delhi, Mumbai, Kolkata, etc., but sanctions loans more easily here.
    • Total years lived in location of application. How long you’ve been living and working in the location from which you’re applying for a loan has a huge impact on your eligibility. The longer you’ve been living in a certain place, the higher are the chances of getting a personal loan approved on your terms. ICICI Bank will give more preference to applicants who’ve lived in the city for longer.
    • Residence type. Applicants living in self-owned residences are more eligible for an ICICI Bank personal loan as the bank will have a set location to find them in case they default, and because there’s no part of their income being spent on rent. Applicants in rented houses must pay a part of their salary as rent, lowering the disposable income left over to pay EMIs. Also, it’s easier for a person living in a rented place to abscond in case they feel they cannot keep up with EMI payments.

    How CIBIL score affects your ICICI Bank Personal Loan Eligibility?

    A CIBIL score that’s over 750 will merely make you eligible, but scores closer to 900 will increase ICICI Bank’s confidence in your ability to repay your loan. Your previous loan and credit card repayment history will also play an important role in showing that you can and will repay your personal loan.

    If you’ve been unable to repay your previous loan and have arranged for a settlement with the bank, ICICI will consider this to be a negative mark and will reduce your loan eligibility.

    Your CIBIL credit report also contains details of the types of loans you’ve taken in the past. A ratio that shows you’ve taken more secured loans than unsecured loans increases your overall eligibility.

    How to increase ICICI Bank Personal Loan Eligibility?

    • Maintain a clean credit history. Whether its loans or credit cards, all outstanding debt must be cleared off on the terms you’ve taken it.
    • Lower EMIs on existing loans. A large factor that affects your eligibility is whether you’re already making EMI payments on another loan. Taking loans for longer tenures lowers the monthly EMI amount. Lower EMI amounts each month mean that you’ll have more disposable funds which can be redirected towards your new EMI payment.
    • Prepayment. It’s a smart move to pay off your existing loans before taking on a new one. A lump sum prepayment will settle your existing loan, increasing your eligibility for your new ICICI Bank personal loan, if you’re in a hurry to close the old one.
    • Maintain a good mix of secured and unsecured loans. Secured loans are looked at more favorably.
    • Don’t over-leverage yourself. Paying off 2-3 EMIs for different loans every month is a task in itself. Adding another EMI to the mix is a headache that you can do without, and the banks think so too as they will not allow you to over-leverage yourself.

    FAQs regarding personal loans from ICICI Bank

    Q. What are the age limits for individuals who wish to get a personal loan from ICICI Bank?

    A. For salaried individuals: Applicants must be between 23 and 58 years of age.

    For self-employed and salaried professionals: Applicants must be between 28 years (for self-employed people) and 25 years (for doctors) – 65 years.

    Q. What is the level of work experience required for an ICICI Bank personal loan?

    A. Salaried applicants are required to have been in their current role for at least 1 year, with a total of 2 years of work experience. Minimum of 5 years in current business for self-employed applicants, and minimum of 3 years for doctors.

    Q. What is the income requirement for people who wish to take a ICICI Bank personal loan?

    A. For salaried individuals: Applicants residing in Mumbai and Delhi – Rs.25,000 per month. Applicants residing in Chennai, Bangalore, Pune, Hyderabad and Kolkata – Rs.20,000 per month. For applicants from any other location in India – Rs.17,500 per month.

    For self-employed and salaried professionals: A minimum turnover of Rs.40,00,000 for non-professionals, and Rs.15,00,000 for professionals and minimum profits after tax of Rs.2,00,000 for proprietorship firms and self-employed people, and Rs.1,00,000 for non-professionals.

    Q. Is there a collateral or guarantor required for ICICI Bank personal loans?

    A. No, there is no security, collateral or guarantor required to avail a personal loan from ICICI Bank.

    Q. What is the maximum loan amount that can be sanctioned through ICICI Bank personal loans?

    A.The maximum loan amount allowed is Rs.20,00,000 (Rs.20 lakhs).

    Personal Loan Reviews

    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been using with the personal loan from the ICICI BANK from past four years, there service is too good, they have charged me nominal rate of interest in this loan and even processing fee they have charged me was nominal ,the loan amount they have given me was sufficient.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Dec 07, 2018
    • ICICI Bank Personal Loan
      "Charges should be reduced"
      0.5 5.0/5 "Blown Away!"
      The customer support is good, they gave good support, initially they told charges would be low, they finally they charged high for the amount of Rs.1.9 lakh, I think they taken Rs.2500 processing fee +7500 for some other charges. Finally I got Rs. 1.8 lakh in my hand.
      Was this review helpful? 1
      , vijayawada
      Reviewed on Dec 07, 2018
    • ICICI Bank Personal Loan
      "Not recommendable bank"
      0.5 4.0/5 "Great!"
      Bought my personal loan 2.5 years back. I have received the loan amount of Rs. 1.50 lakhs. They have given me a interest rate of 15% for this reason i have done a balance transfer to some other bank. I have paid the EMI of Rs. 5000 for the tenure period of 3 years. I have received the loan on time and the documentation process is quite easy.
      Was this review helpful? 2
      , bangalore
      Reviewed on Dec 07, 2018
    • ICICI Bank Personal Loan
      "Very Good Service"
      0.5 5.0/5 "Blown Away!"
      I had chosen to go with them since my salary account was with them and the interest rate which they where offering was the best in the market. The process in getting this loan has been smooth and swift and the loan amount which they had provided has been sufficient. The processing fee was nominal and the interest rate was around 10.99%.
      Was this review helpful? 1
      , bangalore
      Reviewed on Dec 07, 2018
    • ICICI Bank Personal Loan
      "Good. Can be more clear in the details"
      0.5 4.0/5 "Great!"
      My personal loan is with ICICI Bank. The customer support is good and there are no hassles in the process. The rate of interest is of 12.24% and I am not sure on the processing charges. The loan of Rs.4.90 Lakh was approved and I got only 4.68 Lakh. I did not get the loan letter too with the detailed information yet. I only received the insurance letter.
      Was this review helpful? 0
      , chennai
      Reviewed on Dec 07, 2018
    • ICICI Bank Personal Loan
      "Good Financial service"
      0.5 4.0/5 "Great!"
      I have taken personal loan from Icici bank . Am satisfied with the rate of interest which they have provided is nominal one . There is processing fees for the loan which is nominal one. I make the payments through Ecs every month . They did quick documentation and received the loan.
      Was this review helpful? 0
      , noida
      Reviewed on Dec 07, 2018
    • ICICI Bank Personal Loan
      "Best Financial Service"
      0.5 5.0/5 "Blown Away!"
      Got my personal form Icici bank , as the rate of interest is good based on the market rate . Making the payments through Got approved as instant approval process and there is nominal processing fees for the personal loan. Their customer service and response is good regarding personal loan.
      Was this review helpful? 0
      , new delhi
      Reviewed on Dec 07, 2018
    • ICICI Bank Personal Loan
      "Good card"
      0.5 4.0/5 "Great!"
      I have got the credit limit of Rs, 25000 and they have offered me credit limit enhancement and i have denied it. Since 5 years, i have been using the card. They used to send a regular offer notification on my mobile and mails. They have given me a offer like buy1+Get ticket in bookmyshow but i have not availed it.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 07, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The process in getting this loan has been good and the loan amount which they had provided has been sufficient as well. The interest rate with them has been nominal and there has not been any sort of charges which has been made by them. Their customer support has also been responsive and has been helpful as well.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 06, 2018
    • ICICI Bank Personal Loan
      "Dissatisfactory"
      0.5 2.0/5 "Expected more"
      They charge very high around 15% of interest, processing fee is huge. I took the loan of Rs. 8.5 lakhs they taken 20,000 even they taken some charges for insurance. Without any proper information, they have taken insurance amount from the loan disbursement. Initially they told after one year I get 11% of interest if I get direct payroll in IBM, then I got offer in HCL company . When I approached them to get better interest but they haven't revised the interest rate.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 05, 2018
    • ICICI Bank Personal Loan
      "Process should be more simpler"
      0.5 4.0/5 "Great!"
      Considering all my transaction everything with ICICI, I was expected better interest or waiver on the processing fee. They should provide best offers to an existing customer and they should not ask the back end documents from the existing customer. They have all my cible score and kyc documents.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 05, 2018
    • ICICI Bank Personal Loan
      "Hassle free and paper less"
      0.5 5.0/5 "Blown Away!"
      They gave me better interest rate because I am an existing customer of ICICI bank, the documentation process was good. My hand was factured at the time of approaching loan, the bank people helped me by making the process paperless. Overall, I would say that it was hassle free experience.
      Was this review helpful? 0
      , pune
      Reviewed on Dec 05, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I took a personal loan from the ICICI bank for the interest rate is high, I got the loan amount credited to the account with in few days. Overall the experience has been smooth and hassle free. I never had any issues with their services. There is preclosere option too but there are some charges .
      Was this review helpful? 0
      , mumbai
      Reviewed on Dec 05, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan through ICICI BANK , the tenure period is 4 year . I did no face any issue while getting the loan , i receive my loan amount on time , there is processing fee with this bank and rate of interest is very nominal . Customer support is up to the mark .
      Was this review helpful? 0
      , rajkot
      Reviewed on Dec 05, 2018
    • ICICI Bank Personal Loan
      "Not satifactory"
      0.5 1.0/5 "Really Bad"
      I have taken personal loan through ICICI BANK , I applied for personal loan and it got bounce 5 time because of mismatch in signature . I did not got calls from their customer service that is very disappointing . The tenure period is 36month and processing fee is too high with this bank .
      Was this review helpful? 1
      , chennai
      Reviewed on Dec 05, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan through ICICI BANK , they gave tenure period of 2 year . There is no hidden charges with this bank , and the loan amount is up to the mark. I am not aware about the preclosere option . I got my loan within 1 week and that is fair enough .
      Was this review helpful? 0
      , gurgaon
      Reviewed on Dec 05, 2018
    • ICICI Bank Personal Loan
      "Experience is good"
      0.5 4.5/5 "Excellent!"
      My personal loan is with ICICI Bank and the banking process is good. The customer support and response is fine. The documentation was taken on time. The loan was also processed on time too. The rate of interest is of 14.5% and the processing charges are normal.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 05, 2018
    • ICICI Bank Personal Loan
      "Can be more sooner"
      0.5 4.0/5 "Great!"
      I have a personal loan with ICICI Bank. They contacted me on time and the documents was also collected on time. But they need to work on the turn around time. The whole process took a month. I had to do several follow up calls from my end. The interest rate is around 14.99%.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 05, 2018
    • ICICI Bank Personal Loan
      "Affordable loan"
      0.5 4.0/5 "Great!"
      My loan disbursal got delayed for 3 days. I have applied the loan amount of Rs. 1 lakhs. There is no particular reason for choosing the ICICI bank. They have offered me a interest rate of 16% and i'm happy about it. The processing fee was Rs.3300. I have been paying the EMI of Rs. 3666 and i have chosen the tenure period of 3 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 05, 2018
    • ICICI Bank Personal Loan
      "Not satisfied with this loan+"
      0.5 3.0/5 "Satisfactory"
      Almost they have delayed my loan upto 2 week. They have processed the application. They have offered me a interest rate 15.75% which is too high compared with others and they have charged me a nominal processing fee of Rs. 5000. I have approached the loan amount of Rs. 1 lakhs after the deduction of processing fee and insurance they have given Rs. 95200.
      Was this review helpful? 0
      , rajahmundry
      Reviewed on Dec 05, 2018
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