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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 17115 Users

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    ICICI Personal Loan Eligibility Calculator

    About ICICI Bank Personal 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.

    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).
    Apply for Personal Loan

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

    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
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken my personal loan from ICICI bank, i am satisfied with my loan amount which they have provided to me and even they charge nominal rate of interest and even processing fee which they charge was normal, i did not found any difficulty in getting my loan approval it run very smoothly.
      Was this review helpful? 1
      , bangalore
      Reviewed on Oct 16, 2018
    • ICICI Bank Personal Loan
      "Best Financial Service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan from Icici bank , Am satisfied with the rate of interest of 10.99% which is low where no other bank will give for such low interest with nominal processing fees. They instantly approved .Their customer executive used to call for the offers if any offers goes around.
      Was this review helpful? 1
      , coimbatore
      Reviewed on Oct 15, 2018
    • ICICI Bank Personal Loan
      "AVERAGE"
      0.5 3.0/5 "Satisfactory"
      I have been applied for the personal loan with the ICICI BANK personal loan and the process of getting the loan is quick and good. The customer support is not responsive added on that they are not responding properly. The loan amount was sufficient but the rate of interest is higher.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Oct 15, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      To get a personal loan from them it has been smooth and easy and the loan amount which they had provided had fulfilled my requirements. There has been some nominal charges which had been made by them and the processing fee also had been nominal. Their customer support also had been responsive as well where they had been helpful during the process.
      Was this review helpful? 4
      , pune
      Reviewed on Oct 12, 2018
    • ICICI Bank Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      My experience was good with ICICI bank for personal loan, the loan amount was based on my requirement with nominal interest rate. I took this loan because i had a health issue. Customer service was good and they responded on time. The tenure period for this loan is 2 years.
      Was this review helpful? 2
      , bangalore
      Reviewed on Oct 11, 2018
    • ICICI Bank Personal Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      It was quite a good experience i had with this loan but the processing fee was a little high when compared, where they had taken 1500. There has also been some charges which had taken from my end. I had taken this loan almost to years and the loan amount has been sufficient and the interest rate has been nominal when compared with the current market rate.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Oct 11, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I had taken this personal loan from them a long time back and the experience i had with them has been good. The loan amount which they had provided has been satisfactory and the interest rate has also been average and was not too high. There has been no additional charges which had been made by them so far.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Oct 10, 2018
    • ICICI Bank Personal Loan
      "Good. Can do better in charges"
      0.5 5.0/5 "Blown Away!"
      The customer services at ICICI Bank is good. I have taken a personal loan and they are very flexible to swap the EMI date options. The process to get the loan is fine too. But there are charges of 4 to 5% for pre closure. The rate of interest is normal.
      Was this review helpful? 1
      , chennai
      Reviewed on Oct 09, 2018
    • ICICI Bank Personal Loan
      "BEST SERVICE"
      0.5 4.0/5 "Great!"
      I have taken my personal loan through ICICI BANK , the processing fee is 2500 and they charge for insurance 2500 which is too high compare to others . The rate of interest is 15.5% and i personally fee it is too high with ICICI BANK. Loan amount is satisfactory .
      Was this review helpful? 1
      , chennai
      Reviewed on Oct 08, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken my personal loan through ICICI BANK , the process of getting loan was too quick on time i got my loan . The tenure period was 3year and they charge nominal rate of interest with ICICI BANK . They gave sufficient loan with and no issue faced till date .
      Was this review helpful? 2
      , gurgaon
      Reviewed on Oct 08, 2018
    • ICICI Bank Personal Loan
      "AVERAGE"
      0.5 4.0/5 "Great!"
      I have taken my personal loan through ICICI BANK , the service is good with this bank only the thing is it was approved in 1 day but i got loan after 5 days so little slow in service apart from this loan amount they offered is 96000 and it is satisfactory . I cannot get connect to customer service . Processing fee is 3800 and it is too high .
      Was this review helpful? 1
      , bangalore
      Reviewed on Oct 08, 2018
    • ICICI Bank Personal Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      I have take my personal loan with ICICI BANK ,initially they said 12.5% as interest rate but later they charge 15% so i am not happy with the interest here Even processing fee is too high with ICICI It is 3000 . The tenure period is 5years and they provide satisfactory loan amount .
      Was this review helpful? 1
      , pune
      Reviewed on Oct 08, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have my personal loan with ICICI BANK , the tenure period is 5year and they provide satisfactory loan amount with ICICI BANK . They charge 11.4% rate of interest and processing fee is 2000 . The service and process was quite impressive with ICICI .
      Was this review helpful? 1
      , chennai
      Reviewed on Oct 08, 2018
    • ICICI Bank Personal Loan
      "Excellent Service"
      0.5 4.0/5 "Great!"
      It has been a good experience i had with this Personal Loan where the loan amount which they had provided me has been satisfactory and the interest rate with them has been nominal when compared with the market rate. The loan amount which they had provided me was around 4,00,000 where they had charged me with some processing fee of about 7000. The loan has been disbursed in time span of one week.
      Was this review helpful? 2
      , mumbai
      Reviewed on Oct 06, 2018
    • ICICI Bank Personal Loan
      "Best Financial Service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan from ICICI bank . Am satisfied with the rate of interest which they have provided . There is processing fees for the loan which is nominal one and its been refunded . I make the payments through ECS every month . They gave the tenure period of 4 years . They did quick documentation and received the loan amount on time.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Oct 06, 2018
    • ICICI Bank Personal Loan
      "Nice experience"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from ICICI Bank and the process is good. The customer services and response is fine too. The process of documentation is good and there was no delay in the process. The rate of interest and processing charges is normal. I got a rate of 11.99%.
      Was this review helpful? 4
      , gurgaon
      Reviewed on Oct 05, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I had taken this loan from ICICI a long time back and the experience has been quite good. The loan amount which they had provided had been good and the interest rate has been quite nominal. Their customer support also had been helpful at several times.
      Was this review helpful? 6
      , kolkata
      Reviewed on Oct 03, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      It has been a very good experience i had with this loan where the loan amount which they had provided has been satisfactory as well. The interest rate has been quite high when compared with the market rate. There also had been a processing fee about 3000 which they had charged as well.
      Was this review helpful? 5
      , bangalore
      Reviewed on Oct 03, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      It has been a good experience i had with them where the loan amount which they had given has been satisfactory. The interest rate has been quite high when compared with the market rate, and there also had been some charges made by them and processing fee also had been there. There was an insurance policy also added with this loan as well.
      Was this review helpful? 4
      , hyderabad
      Reviewed on Oct 03, 2018
    • ICICI Bank Personal Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I have taken the personal loan with ICICI BANK where i had a good experience with this bank because they have taken 3 days for loan approval. Documentation process is simple also they have given the 6lakhs and satisfied with that added on that the interest is 10.99% added on that the service is good.
      Was this review helpful? 5
      , bangalore
      Reviewed on Oct 01, 2018
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