You can use the Personal Loan EMI Calculator by BankBazaar to determine the EMI you will have to pay depending on the loan amount you will avail, the repayment tenure, and the interest rate charged. Given below are the steps you will have to follow in order to use the Personal Loan EMI Calculator offered by BankBazaar:
Step 1: Under the ‘Loan Amount’, use the slider to select the loan amount you are looking to avail.
Step 2: In the next step, use the slider to determine the loan repayment tenure under ‘Loan Tenure’ section.
Step 3: Use the slider to determine the rate of interest or directly enter the value in the box provided.
Step 4: Enter the processing fee in the next step. The processing fee charged by the bank is 2.50% of the loan amount plus the GST.
Step 5: Once you have entered all the details, click on ‘Calculate’
You will then be able to get a detailed breakdown of the total payable amount and the EMI you will have to pay. An ammortisation table will also be provided which will help you view the detailed repayment schedule.
No, you cannot avail a personal loan from ICICI Bank if your credit score is low. The bank maintains that the customer’s credit score must be at least 750 to be eligible for a personal loan the bank.
You can pay your EMIs using ECS (Electronic Clearing System) or NACH (National Automated Clearing House) or ACH (Automated Clearing House) where the payable amount will be automatically deducted from your ICICI bank account. You can also pay your EMIs offline through a demand draft, cheque, or by cash.
No, the EMI calculator tool is free of cost.
You can use the BankBazaar personal loan EMI calculator as many times as you want.
Yes, you can use the BankBazaar EMI calculator anytime, anywhere.
The reason your application for a personal loan was rejected by the ICICI Bank could be for various reasons. It can be that your credit score would be low, or you may not be meeting the required eligibility criteria.
Yes, if you can improve your credit score, and you meet the eligibility criteria, you can reapply for a personal loan.
Yes, you can apply for an ICICI Bank personal loan from their official website.
A GST rate of 18% will be applicable on banking services and products from 01 July, 2017.
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