Multiple banks. Different interest rates. Call it a "conflict of interest".
  • loading

    ICICI Personal Loan Eligibility Calculator

    We found 1 ICICI Personal Loan Eligibility Calculator

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    11.59% - 18.49% Fixed
    2.25% (min. ₹1149) One time fee
    20L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews

    ICICI Personal Loan Eligibility Calculator is Rated as "Great!" by 13888 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN

    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).

    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).

     Loading your search... Loading your search...
  • Personal Loan Reviews

    • ICICI Bank Personal Loan
      "Could be more flexible for corporate customers"
      0.5 3.0/5 "Satisfactory"
      The response was a bit delayed from ICICI Bank after I had applied for a personal loan. I could not proceed for the loan is because of the salary criteria. The bank had a condition of 20K as a take home. The rate of interest and the processing charges was pleasing to me.
      Was this review helpful? 0
      , hosur
      Reviewed on May 23, 2017
    • ICICI Bank Personal Loan
      "High Interest Rate"
      0.5 3.0/5 "Satisfactory"
      Interest rate is on higher end with ICICI bank for the personal loan. Processing fee is also high with them. But the customer service is too good and it is approachable. As the charges are high with ICICI bank I moved to HDFC bank where I got low interest rate for personal loan.
      Was this review helpful? 0
      , kanchipuram
      Reviewed on May 23, 2017
    • ICICI Bank Personal Loan
      "High Interest Rate"
      0.5 3.0/5 "Satisfactory"
      When I checked the interest rate of ICICI bank, I found it is around 11.5%. When I personally visited ICICI bank for the personal loan they quoted 14.5% of interest rate so I applied through online source then the interest rate became 16%. Hence I dropped my plan in taking the loan with ICICI bank. But their customer service is too good.
      Was this review helpful? 0
      , howrah
      Reviewed on May 23, 2017
    • ICICI Bank Personal Loan
      "Good. Can be more flexible"
      0.5 4.0/5 "Great!"
      After me applying for a personal loan with ICICI Bank. I was asked to submit the pay slips and I only had the salary certificates. The bank was not willing to accept these documents and I could not proceed for the loan as well. The interest rate of around 17% and after negotiating I got a rate of 15%.
      Was this review helpful? 0
      , dindigul
      Reviewed on May 23, 2017
    • ICICI Bank Personal Loan
      "High interest rate"
      0.5 2.0/5 "Expected more"
      I was asking for a low rate of interest but ICICI bank quoted high interest rate for personal loan so I just rejected the bank and cancelled my application. Their response also not proper, they contacted me after three to four days from the time of applied. I am not satisfied with the bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 23, 2017
    • ICICI Bank Personal Loan
      "High on ROI"
      0.5 5.0/5 "Blown Away!"
      Due to the rate of interest being very high, I did not go ahead for the personal loan with ICICI Bank. The customer services was good and the response was on time as well. They contacted me and informed me the details for the loan. The bank was also high on the processing charges.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 23, 2017
    • ICICI Bank Personal Loan
      "Average "
      0.5 2.0/5 "Expected more"
      I had not taken the personal loan with the ICICI bank because of the huge rate of interest. Services were good with them and I have expected the rate of interest to be below 12%. I would like to suggest that they need to reduce the interest rates in future.
      Was this review helpful? 0
      , ahmednagar
      Reviewed on May 23, 2017
    • ICICI Bank Personal Loan
      "Need customer centric in future"
      0.5 2.0/5 "Expected more"
      ICICI was about to process my personal loan and asked for my documents for the verification and they have collected my documents as well, but after that they told the minimum due I pay for my credit card was the reason for the cancellation of my personal loan. I was trying to reach the ICICI relationship manager, but they haven't answered my call and the reason was not acceptable.
      Was this review helpful? 0
      , gurgaon
      Reviewed on May 23, 2017
    • ICICI Bank Personal Loan
      "Could be more clear in details"
      0.5 4.0/5 "Great!"
      I could not proceed for the personal loan with ICICI Bank and there was no clarity in the documentation and I was not informed the exact reason as to why my application was closed. The rate of interest and processing charges was normal when compared to other banks.
      Was this review helpful? 0
      , vadodara
      Reviewed on May 23, 2017
    • ICICI Bank Personal Loan
      "Prompt service however need to work on low interest rates"
      0.5 3.0/5 "Satisfactory"
      The reason I was disappointed with ICICI bank personal loan was the interest rate because there are banks which gives the personal loan with very low interest rates, when compared with ICICI bank. The response was very prompt with the ICICI bank. Overall I am satisfied with their service.
      Was this review helpful? 0
      , pune
      Reviewed on May 23, 2017
    • ICICI Bank Personal Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      After me applying for a personal loan with ICICI Bank, I received a call and the lady and I informed her that I am working in the current company for the last three months and she said she would check and call back. After an hour I only received a message saying that the loan is rejected. It would have been better if they called me back and informed me.
      Was this review helpful? 0
      , chennai
      Reviewed on May 23, 2017
    • ICICI Bank Personal Loan
      "Need improvements"
      0.5 2.0/5 "Expected more"
      The ICICI executive collected my documents and told I was not eligible to take the personal loan. I would suggest ICICI bank to check for the customer eligibility before they collect the documents. The service with ICICI need to be improved with their process. The customer support is not up to the mark with ICICI bank. They haven't picked my call to reveal the loan status.
      Was this review helpful? 0
      , chennai
      Reviewed on May 23, 2017
    • ICICI Bank Personal Loan
      "Not so convenient"
      0.5 1.0/5 "Really Bad"
      During the early stage of personal loan process, ICICI bank did not communicate with me about the certain documents but later on they were asking too many documents, such things are not convenient for me so I just went ahead and cancelled the loan application. Really disappointed with ICICI bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 23, 2017
    • ICICI Bank Personal Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      Since I did not receive a proper response from ICICI Bank, I cancelled my plans to take a personal loan from them. I was contacted initially and later there was no response for the document collection. The bank was average on the interest rate and charges.
      Was this review helpful? 0
      , satna
      Reviewed on May 23, 2017
    • ICICI Bank Personal Loan
      "High ROI & charges"
      0.5 3.0/5 "Satisfactory"
      Though the services was good from ICICI bank, I was not comfortable with the rate of interest and charges. So I did not go ahead for the personal loan. The bank offered me a rate of 14% and more and I was need of around 11%. I would still wish to recommend them as long as they reduce the interest rate and fees for the loan.
      Was this review helpful? 0
      , gulbarga
      Reviewed on May 23, 2017
    • ICICI Bank Personal Loan
      "Quick and fast service"
      0.5 4.0/5 "Great!"
      ICICI Bank took around 3 days to disburse my personal loan, because I do hold a salaried account with ICICI bank, so there was no need for me to submit my documents. The rate of interest is high when compared with others. The processing fee is nominal here. I am happy with loan amount which was offered by ICICI bank .
      Was this review helpful? 0
      , mumbai
      Reviewed on May 23, 2017
    • ICICI Bank Personal Loan
      "Need improvement"
      0.5 2.0/5 "Expected more"
      I had a requirement for a personal loan and I applied for the same at ICICI Bank. The bank has not contacted me at all, at least to tell me if I am eligible or not to get the loan. It has not been a good experience for me with the customer services of this bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 23, 2017
    • ICICI Bank Personal Loan
      "Better service"
      0.5 2.0/5 "Expected more"
      Approached ICICI bank for my Personal loan, they have given a call and explained me about the product, then I have told them to close the application, because ICICI interest rate is too high, when compared with other banks. They can decrease the interest rate in future. Overall the service is better.
      Was this review helpful? 0
      , durgapur
      Reviewed on May 23, 2017
    • ICICI Bank Personal Loan
      "Satisfied"
      0.5 3.0/5 "Satisfactory"
      ICICI Bank executives did not come to my place to collect the documents for my personal loan inquiry. ICICI bank had confirmed the rate of interest for the personal loan was around 12% and the customer service was good one and there were no worries. I would like to suggest that they need to take care of the customer inquiries within the stipulated time period.
      Was this review helpful? 0
      , siliguri
      Reviewed on May 23, 2017
    • ICICI Bank Personal Loan
      "Satisfied"
      0.5 4.0/5 "Great!"
      Due to some documentation issues, I have not taken the personal loan with the ICICI bank , also I am not having the proper resident documents. I was told that ICICI bank as 12.49% as interest rate for the personal loan and their services are good one with the ICICI bank.
      Was this review helpful? 0
      , karad
      Reviewed on May 23, 2017
    Common Loader Icon
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.