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    We found 1 ICICI Personal Loan Eligibility Calculator
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    10.99% - 17.99% Fixed
    From .75% (min. ₹999 + applicable tax) One time fee
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    ICICI Personal Loan Eligibility Calculator is Rated as "Great!" by 17489 Users

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    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
      "Optional personal loan"
      0.5 3.0/5 "Satisfactory"
      In the year of 2007, i have taken my personal loan from ICICI. They were good in processing the loan and they do charged me a processing fee of Rs, 1000 and otherwise i found everything is fine. The amount automatically has been deducted from my salary account. I'm not aware of the interest rates provided by them.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 16, 2019
    • ICICI Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken this loan yesterday where the experience i had was quite awesome. They had called me up and offered me with a loan where i went through the iMobile application and it has just taken 2-3 minutes in getting this loan. The interest rate which they offered is around 13.99% and the tenure period is for five years.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 16, 2019
    • 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 2 years . They did quick documentation and received the loan.
      Was this review helpful? 2
      , chennai
      Reviewed on Feb 15, 2019
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I had applied for ICICI personal loan and to get my application processed it took only 7 days .Loan amount was credited with in an hour. It was a super fast loan application process with zero documentation. The tenure period is 4 year and i am happy to have their services .
      Was this review helpful? 2
      , ahmedabad
      Reviewed on Feb 15, 2019
    • 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 to get the loan is good and smooth. The customer services and response is good and the documentation process is satisfactory too. The after loan services are good and the interest rate and charges is fine too.
      Was this review helpful? 2
      , new delhi
      Reviewed on Feb 15, 2019
    • ICICI Bank Personal Loan
      "More than satisfactory"
      0.5 4.0/5 "Great!"
      My personal loan is with ICICI Bank and the process was good. I got a interest rate of around 11% and the processing fees is also nominal. It is between 3K to 4K. I received the loan in 48 hours. It was a very good process and the after loan services are satisfactory too.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 13, 2019
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I had taken this Personal loan a very long time back and the loan has been closed. The loan amount has been sufficient but the interest rate was pretty high. There has also been some charges which they had made as well which was quite high, there hasn't been much hassle so far.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 13, 2019
    • ICICI Bank Personal Loan
      "AVERAGE"
      0.5 3.0/5 "Satisfactory"
      ICICI BANK provided me the personal loan and i am using it from last few years but i am not satisfied with this bank because they give the higher rate of interest but there is no issues with the customer support with this bank, they are good and responsive.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Feb 13, 2019
    • ICICI Bank Personal Loan
      "Need to reduce the interest rate"
      0.5 3.0/5 "Satisfactory"
      Other banks for providing lesser interest rates than ICICI. If i want to clear the loan they are charging some amount for pre-closure. 2 years ago, i have purchased this loan. They have offered me a interest rate of 12.75% and they have charged me a processing fee of Rs. 3000. Total tenure period of the loan is 4 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 13, 2019
    • ICICI Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken this personal loan almost a year back and the process in getting this loan was quite simple. The loan amount was sufficient and the interest rate with them has been nominal when compared with the market rate. There has not been any sort of extra charges which they had made as well.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Feb 13, 2019
    • ICICI Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have holding my personal loan with ICICI bank,they have given me sufficient loan amount , and the rate of interest they have charged me which was nominal,even there processing fee was nominal, now i have closed this loan.the experience was good.
      Was this review helpful? 1
      , pune
      Reviewed on Feb 12, 2019
    • ICICI Bank Personal Loan
      "Bad experience"
      0.5 1.0/5 "Really Bad"
      I had been applied for ICICI bank personal loan .The loan amount which they have given me was sufficient,and the rate of interest they have charged was up to 14.75% which was high compare to the market value, and they have charged processing fee up to 7000-8000 that too was high, now still running, even their pre-closure charges they have charged me up to 5 % on loan amount,as i am too existing account holder for long time,they are not agree with waived off option.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 12, 2019
    • ICICI Bank Personal Loan
      "Need to reduce charges"
      0.5 3.0/5 "Satisfactory"
      I took a personal loan from ICICI bank and my experience was average. The loan amount was sufficient and the rate of interest of 17% is way high when compared to other banks. Customer service was not up to the mark and they charged Rs 5000 for insurance. Tenure period for this loan is 48 months.
      Was this review helpful? 0
      , jaipur
      Reviewed on Feb 12, 2019
    • ICICI Bank Personal Loan
      "Bad Experience of ICICI Personal loan"
      0.5 0.5/5 "Unacceptable"
      Hi all i would like say all people, please do not apply any loans to ICIC Bank. They are doing simply timepass, Not release money even after submitting all documents and clear verification. I applied personal loan APS ID 72751422 on branch ICIC0000584 before one month, after submitting all documents and verification done at present address, permanent address and office address. Still not releasing money. Please use other Banks as per your wishes and Avoid ICIC Bank for loans
      Was this review helpful? 0
      , surat
      Reviewed on Feb 12, 2019
    • ICICI Bank Personal Loan
      "Good. Can work on the interest rate"
      0.5 4.5/5 "Excellent!"
      I have taken a personal loan with ICICI Bank. The process was smooth and easy and I received the loan with ease. The customer support and response is good and there are no hassles. The interest rate is of 14.5% which is high. The processing charges are high too.
      Was this review helpful? 0
      , pune
      Reviewed on Feb 12, 2019
    • ICICI Bank Personal Loan
      "Looking for less interest rate"
      0.5 3.0/5 "Satisfactory"
      I took a personal loan from ICICI bank and my experience was not up to the mark. Loan amount was for Rs 2 lacs with rate of interest of 16% which is way high when compared to other banks. Customer service was average with this bank and i opted for balance transfer to other bank.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 12, 2019
    • ICICI Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been holding my personal loan with ICICI bank.still the loan is running, the loan amount was sufficient,and the rate of interest they have charged was bit high 11.99% compare market value. They have charged processing fee nominal they have charged me up to 2% ,and overall service is good.
      Was this review helpful? 3
      , visakhapatnam
      Reviewed on Feb 09, 2019
    • ICICI Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been using personal loan with ICICI bank, they have given me sufficient loan amount,the rate of interest they have been charged me was bit high compare to the market value,they have charged me up to 13%,and they have not charged me processing fee,still now loan is running like for 22 months Emi i have paid ,overall service is good.
      Was this review helpful? 1
      , mumbai
      Reviewed on Feb 09, 2019
    • ICICI Bank Personal Loan
      "Good Credit Card"
      0.5 5.0/5 "Blown Away!"
      ICICI gives less interest for the emi conversion, I took the credit card before three years. The credit limit which they alloted its satisfactory, I get some bonus reward points but I didn't redeem it yet. I am using Coral its non chargeable card.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 09, 2019
    • ICICI Bank Personal Loan
      "Good digital banking with ICICI"
      0.5 5.0/5 "Blown Away!"
      My personal loan running with ICICI, the service was good. They sanctioned they loan on time. Its been two years now, yet to pay my emi for three more years. I like the customer support and the application is good, because I have saving and salary account it much more easier with other bank. They use more technology platform like I mobile.
      Was this review helpful? 1
      , bangalore
      Reviewed on Feb 08, 2019
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