• ICICI Personal Loan EMI Calculator

    How to use BankBazaar ICICI Bank Personal Loan EMI Calculator

    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 2.25% 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.

    Benefits of BankBazaar’s ICICI Bank Personal Loan EMI Calculator

    • Helps you determine whether you are eligible for a personal loan or not.
    • Lets you calculate your EMI and processing fee within a minute.
    • Gives a holistic view of your repayment schedule.
    • Saves time and 100% accurate.
    • User-friendly and easy to use.

    FAQs

    1. I want to apply for a moratorium for the month of August 2020. Is it possible?
    2. Yes, you will have to re-apply for a moratorium for the month of August 2020 by visiting the official website of ICICI Bank and notifying the bank for the same.

    3. When can I apply for a moratorium?
    4. You must apply for a moratorium at least 5 days before your next EMI is due to be paid. In case you apply for a moratorium after the due date, the EMI will be debited from your account but will be refunded within 7 working days.

    5. Will my credit score get affected it I apply for a moratorium?
    6. No, your credit score will not get affected if you apply for a moratorium.

    7. My credit score is below 700. Will I get a personal loan from ICICI Bank?
    8. 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.

    9. How can I pay my ICICI Personal Loan EMI?
    10. 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.

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