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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 17017 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
      "Good service"
      0.5 4.0/5 "Great!"
      My experience was very good with ICICI bank for personal loan,, the process took more than 15 days to complete. The loan amount was for Rs 1 lac with nominal interest rate. Customer service was good and they followed up on time. The tenure period for this loan is 3 years.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Aug 17, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My personal loan application was approved with ICICI bank, the process was smooth and i received my loan amount within 10 days. The loan amount was for Rs 70000 for 2 years with nominal interest rate. Customer service was good and they followed up on time.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 17, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My personal loan application was approved with ICICI bank and the experience was good, the loan amount was for Rs 7 lakhs with high interest rate when compared to other banks. They charged Rs 30000 for insurance. Documents were collected on time and the customer service was good. I received my loan within 1week after the application was approved.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 17, 2018
    • ICICI Bank Personal Loan
      "Need to reduce charges"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with ICICI bank and my loan experience was good, the loan amount was for Rs 1 lakh with rate of interest is very high when compared to other banks. Customer service was good and they responded on time. The tenure period for this loan is for 3 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 17, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a personal loan from ICICI bank and the experience was good, the loan amount was for Rs 1 lakh with nominal interest rate when compared to other banks. Customer service was good and they responded on time. They charge 2% as preclosure charges and the tenure period is 5 years.
      Was this review helpful? 0
      , mumbai
      Reviewed on Aug 17, 2018
    • ICICI Bank Personal Loan
      "The interest rate is high"
      0.5 4.5/5 "Excellent!"
      I've taken a personal loan from the ICICI bank for 70000, the interest rate was pretty much high 18.%. The application process was easy and hassle free but they should seriously consider reducing the interest rate for their personal loans.
      Was this review helpful? 1
      , vadodara
      Reviewed on Aug 16, 2018
    • ICICI Bank Personal Loan
      "More than satisfactory"
      0.5 5.0/5 "Blown Away!"
      ICICI Bank is good overall in the loan process. I have taken a personal loan and the process was smooth. The customer support and response is good and the documentation is also normal. The rate of interest and processing charges are normal too.
      Was this review helpful? 1
      , navi mumbai
      Reviewed on Aug 16, 2018
    • ICICI Bank Personal Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      They are good, it was outstanding experience with them, they supported me well, also they made regular follow ups, quick in response from them, they can also obtain the option of calling them back, if we missed to attend the call when they calling,.
      Was this review helpful? 1
      , bangalore
      Reviewed on Aug 14, 2018
    • ICICI Bank Personal Loan
      "QUICK PROCESS"
      0.5 4.5/5 "Excellent!"
      Processing and documentation was very quick, as i have the savings account with the same bank there was not having any issues in transferring the funds, i actually expected 2 lakh, but they gave only , 1lakh, as the approval from the bank end.
      Was this review helpful? 3
      , chennai
      Reviewed on Aug 14, 2018
    • ICICI Bank Personal Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      Documentation and processing was easy, rate of interest can be reduced in further , processing fee as well, when they informed me insurance and the processing fee comes around 6000rs but they have charges more when compared with other banks.
      Was this review helpful? 2
      , coimbatore
      Reviewed on Aug 14, 2018
    • ICICI Bank Personal Loan
      "QUICK LOAN "
      0.5 4.0/5 "Great!"
      Application and website are user friendly , i have taken this loan for 48 months, i feel like the fees and charges, rate of interest is little high, processing and documentation was easy, i used to make payments by NEFT, which will reach them soon.
      Was this review helpful? 2
      , gurgaon
      Reviewed on Aug 14, 2018
    • ICICI Bank Personal Loan
      "BELOW AVAERAGE SERVICE"
      0.5 1.0/5 "Really Bad"
      Interest rate can be reduces as they have given me the rate of interest as 14.99%, every month 5th the deduction will be done from my account, also they can reduce the process timing as it took around 1 month to get processed which i felt little long period.
      Was this review helpful? 1
      , bangalore
      Reviewed on Aug 14, 2018
    • ICICI Bank Personal Loan
      "Not satified"
      0.5 2.0/5 "Expected more"
      My credit card was taken with ICICI Bank.I am not happy with the process here . The loan got approved but they have disbursed it after 2 months only. The interest rate was bit high and the tenure period was 3 years . The customer service and responses was not good. The processing fee was high .
      Was this review helpful? 1
      , bangalore
      Reviewed on Aug 14, 2018
    • ICICI Bank Personal Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      My personal loan was taken with ICICI bank.I have to do proper followup's and the service was not up to the mark. I have been told that the loan was approved but they didn't disbursed the amount . I was looking for 80,000 and the interest rate was satisfactory .
      Was this review helpful? 0
      , pune
      Reviewed on Aug 14, 2018
    • ICICI Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have taken my personal loan with ICICI Bank. I had a good experience and the loan amount was 1,50,000 and the interest rate was bit high . The process was very satisfactory and their service was up to the mark. The processing fee was also nominal so I would like to recommend to others,
      Was this review helpful? 1
      , bangalore
      Reviewed on Aug 13, 2018
    • ICICI Bank Personal Loan
      "AVERAGE SERVICE"
      0.5 2.0/5 "Expected more"
      Processing time was really long , during the documentation its could have been better, rate of interest is high when compared with other banks,transparency about the processing was zero. There are no issues with the online portal but faced some issues with ICICI.
      Was this review helpful? 1
      , bangalore
      Reviewed on Aug 13, 2018
    • ICICI Bank Personal Loan
      "GOOD"
      0.5 4.0/5 "Great!"
      I have taken loan with AXIS BANK and my loan experience was good. My loan amount is 500000 and interest rate is 13.5% and it is satisfactory.There are no hidden charges. I use to pay 6900 as EMI per month and tenure period is 5years. I am satisfied with customer service. Processing fee is nominal.
      Was this review helpful? 1
      , kolkata
      Reviewed on Aug 12, 2018
    • ICICI Bank Personal Loan
      "Good. Can be more clear"
      0.5 3.0/5 "Satisfactory"
      The experience and process is fine with ICICI Bank. After me applying, the documents were collected within three days, after which I got the personal loan in ten days and the loan is as needed. They initially offered me a higher interest rate of 18% and after I applied through a online channel I got a rate of 14.49%. But the bank reduced my tenure from 4 years to 3 years. Without any information they have charged me for the insurance along with the processing fee too.
      Was this review helpful? 1
      , jamnagar
      Reviewed on Aug 11, 2018
    • ICICI Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      My credit card was taken with ICICI bank. I had a good process and very quick experience. I have taken 5 lakhs and the interest rate was very satisfactory and the tenure period was 5 years, They haves sanctioned the loan with the committed time., The processing fee is nominal.
      Was this review helpful? 1
      , kolhapur
      Reviewed on Aug 10, 2018
    • ICICI Bank Personal Loan
      "Overall no hassles"
      0.5 4.0/5 "Great!"
      I also have a personal loan with ICICI Bank. The customer services are good and the process was on time. I did not face any delay and the documents were collected on time. The rate of interest and the processing charges is normal and the after loan services are good.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Aug 10, 2018
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