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    We found 1 ICICI Personal Loan Eligibility Calculator

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    11.00% - 17.99% Fixed
    2.25% (min. ₹1149) One time fee
    20L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval option available
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    ICICI Personal Loan Eligibility Calculator is Rated as "Great!" by 14369 Users

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    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 Personal Loan Offers

    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).

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  • Personal Loan Reviews

    • ICICI Bank Personal Loan
      "Good Service"
      0.5 4.5/5 "Excellent!"
      The ICICI bank has rejected my personal loan application , saying that my salary didn't met their eligibility criteria , and they asked me to approach after 3 months. The customer service with ICICI bank is really good. The rate of interest is nominal with ICICI bank.
      Was this review helpful? 0
      , lucknow
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      Presently, I am living and working at one place however I had applied for a personal loan at a different locality. Therefore ICICI executive confirmed that both my residential and work place were different and that was the reason why I did not opt for the personal loan. Rate of interest seems to be normal also the customer service and response provided by ICICI Bank is good.
      Was this review helpful? 0
      , secunderabad
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      There was a duplicate account issue with ICICI bank, initially they rejected my loan later 2nd time they approved my personal loan. The rate of interest levied by them is way too high when compared with others. Both customer service and response provided by ICICI bank was really good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      Rate of interest offered by ICICI bank is relatively too high when compared with other banks that was the reason why I did not proceed further with the personal loan. Customer service and response provided by ICICI bank was really good. Also it would be great if they reduce the interest rate too In all I would say it is a good service provided by ICICI bank.
      Was this review helpful? 0
      , zahirabad
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Its Good"
      0.5 4.0/5 "Great!"
      I was requested the amount of Rs. 5 lakhs , but ICICI approved the loan only for Rs. 80,000 because my existing car loan was running with Kotak Mahindra. Hence they were reduce the principle amount, I am not fine with that loan amount, therefore I dropped to process with ICICI.
      Was this review helpful? 0
      , erode
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Its Better"
      0.5 3.0/5 "Satisfactory"
      ICICI requested for some documents from my end, due to my busy schedule I didn't submit the documents to the bank. Hence they have closed the application. I never got any intimation from the bank end about the application status. Whatever it may be they should be communicated the same to the customer.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Better Service"
      0.5 4.0/5 "Great!"
      ICICI Bank executive stated that my salary did not meet their bank criteria and that was the reason why I opted out of ICICI personal loan. Besides that, The response and the customer service provided by ICICI bank is really good. Even the rate of interest levied by them is very much nominal.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Better service"
      0.5 2.0/5 "Expected more"
      I didn't get any response from ICICI , I almost waited for a week. The guy who collected my documents, they said will check the papers and get back but they never responded back. Therefore I approached AXIS bank for the personal loan and I got my disbursement.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Transparency should be there"
      0.5 2.0/5 "Expected more"
      When I applied ICICI personal loan through online channel it showed the interest rate around 14.29% but when I processed my application with ICICI. They gave me the interest around 14.7%. Then I raised a request to reduce the interest rate, ICICI promised to provide the best rate but finally they didn't offer me.
      Was this review helpful? 0
      , patti
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Loan process should be flexible"
      0.5 1.0/5 "Really Bad"
      I am doing own business but ICICI requested me to submit the salary slip and they not providing the loan to the business person. I do have all the documents, including IT return etc but they didn't accept this. ICICI expecting the salary slip from me, it is not possible from the business person.
      Was this review helpful? 0
      , umbergaon
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have got the loan through the financial channel partner from ICICI bank. Within 7 working days they have disbursed my personal loan. The rate of interest is nominal when compared with others. The ICICI confirmed that based on the interest rate they will decide the interest rate.
      Was this review helpful? 0
      , mundra
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "System needs improvement"
      0.5 1.5/5 "Bad"
      There is a kind of system issue with ICICI bank they were asking me to provide the Form 16 which is a practise by corporate sectors. Since I have 2 years of academic experience i could not provide these documents handy. ICICI has closed my personal loan application. The customer service documentation department told that they will get back to me on this issue in 5 mins but none turned up. The rate of interest is high when compared with others.
      Was this review helpful? 0
      , mysore
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Looking for a better Service"
      0.5 3.0/5 "Satisfactory"
      Through online channel, I had applied for a personal loan with ICICI, they came and collected the documents, I was expecting an amount of RS. 7 lakhs they committed the same. Finally they gave me wrong commitment and informed they can approve only the amount of Rs.6 lakhs. I am not fine with that and their way of approach is not good, they should be more polite to the customer.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Looking for a better Service"
      0.5 3.0/5 "Satisfactory"
      Through online channel, I had applied for a personal loan with ICICI, they came and collected the documents, I was expecting the amount of RS. 7 lakhs they committed the same. Finally they gave me wrong commitment and informed they can approve only the amount of Rs.6 lakhs. I am not fine with that and their way of approach is not good and they should be more polite to the customer.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Need Improvement"
      0.5 1.5/5 "Bad"
      I haven't got proper response from ICICI bank in concern to my personal loan application. They have promised they will give a call back but no one turned up which is disappointing . The rate of interest is low when compared with others. I would like to suggest the ICICI to give proper response to the customers. The ICICI executive fails to guide the customers in proper way.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Response part has to be improved"
      0.5 2.0/5 "Expected more"
      I have submitted all the documents to the bank finally ICICI bank told me I am not eligible to take personal loan and they closed my loan application. ICICI didn't give clear information about the status of application. It would be great if they improve on the service part.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Good Service"
      0.5 2.0/5 "Expected more"
      The ICICI bank executive asked to submit the bank statements to process with the personal loan, but I can't submit the bank statements,so that was the reason I haven't proceed with ICICi bank personal loan. The customer service and the response was good with ICICI bank. The rate of interest was nominal with ICICI bank. The service with ICICI was good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 27, 2017
    • ICICI Bank Personal Loan
      "Interest rate should be flexible as per the market"
      0.5 3.0/5 "Satisfactory"
      I had experienced a time lag with ICICI bank as they have taken some time to collect the documents, finally they disbursed the amount. I took the amount of Rs.1 lakhs with 16.99% of interest it is high compared to other bank. My loan tenure is for three years but I can do the preclosure after six months, however I should pay the charges of 5% from the principal amount.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 27, 2017
    • ICICI Bank Personal Loan
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I have informed ICICI executive that there is no loan requirement at present as I got loan with Axis bank, that was reason I haven't proceed with ICICI bank loan. The Rate of interest was high with ICICI bank. The customer service and the response was good with ICICI bank. They need reduce the interest rate and processing fee.
      Was this review helpful? 0
      , kakinada
      Reviewed on Jun 27, 2017
    • ICICI Bank Personal Loan
      "Response part has to be improved"
      0.5 1.0/5 "Really Bad"
      I was not received any proper response from ICICI, initially I got some couple of calls their executive came and collected the documents. Finally there was no response and I am not aware what was the reason ICICI have rejected my application. I have applied personal loan on 29th of may but still there was no response from them.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 27, 2017
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