Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 1 ICICI Personal Loan Interest Rates
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    10.99% - 17.99% Fixed
    2.25% (min. ₹1499 + applicable tax) One time fee
    20L Max
    1-5 Years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval available
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    ICICI Personal Loan Interest Rates is Rated as "Great!" by 15189 Users

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    ICICI Personal Loan Interest Rates

    About ICICI Personal Loan

    ICICI Bank offers personal loan for an individual to take his dream vacation, or for a dream wedding, to renovate home or to buy a much desired gadget. ICICI Bank offers a fixed rate of interest and it is charged on a monthly reducing basis. The tenure is flexible up to 5 years and there is no security or collateral needed for availing the loan. The loan is paid back in easy monthly instalments and you can repay it through auto-debit or ECS or PDC. The benefit of taking an ICICI Bank Personal Loan is that the interest remains the same throughout the tenure. Simple documentation is required and the loan is quickly processed.

    ICICI Personal Loan Interest Rates

    ICICI personal loan interest rates depends on income, borrowers credit history, the RBI rates, inflation etc. ICICI personal loan interest rate for the year 2015 varies from 11.99 percent to 20 percent. The interest rates is offered to a borrower in such a way that it does not financially burden the borrower.

    ICICI Personal Loan Interest Rates 2017

    Particular Salaried Self-Employed
    Interest rate 11.59% to 22.00% p.a. 11.59% to 22.00% p.a.
    Loan Amount Min: Rs 50,000; Max: Rs 20 lakh. Min: Rs 50,000; Max: Rs 20 lakh.
    Loan Tenure Min.: 12 months; Max.: 60 months Min.: 12 months; Max.: 60 months
    Lowest EMI Rs 1,102 (calculated at lowest loan amount taken for the maximum loan tenure) Rs 1,102 (calculated at lowest loan amount taken for the maximum loan tenure)
    Processing Fee Up to 2.25% per annum of loan amount + Applicable GST Up to 2.25% per annum of loan amount + Applicable GST
    Age Applicant must be aged between 23 years and 58 years. Applicant must be a minimum of 28 years (self-employed individuals) and 25 years (for doctors); Maximum age - 65 years
    Prepayment Charges 5% per annum of principal outstanding loan amount + applicable GST 5% per annum of principal outstanding loan amount + applicable GST
    Foreclosure Charges NA NA
    Apply for Personal Loan

    How to Calculate Interest/EMI on ICICI Personal Loan?

    EMI or Equated Monthly Instalment is the amount payable every month to the bank until the loan amount is fully paid off. The EMI amount consists of interest as well as the principal amount that is to be repaid. The principal amount and interest is divided by the tenure in which the loan has to be repaid. This amount has to be paid monthly. The formula to calculate the EMI is:

    EMI= Principal X Rate of interest on a monthly basis X (1+rate of interest on a monthly basis) to the power of the loan tenure divided by [(1+rate of interest on a monthly basis) to the power of the loan tenure – 1]

    To make the EMI calculation easy, you can make use of the EMI calculator available on BankBazaar.com. On filling up the required fields in the EMI calculator you will get the result and the amortization table that will mention how much of the EMI amount is going towards the principal amount and how much of it covers the interest amount.

    For example, Mr.Sam has taken a personal loan for Rs.1 lakh from ICICI Bank. The interest rate he is being offered is 11.99 percent for a tenure of 5 years. By the end of the fifth year, he would have paid Rs.33,436 towards total interest and his loan EMI is Rs.2,224. He will be paying 25.1 percent towards the interest and 74.9 percent towards the principal loan amount. His amortization table will look as follows:

    YearPrincipal paid (in rupees)Interest paid (in rupees)Balance amount (in rupees)
    Year 115,53211,15584,468
    Year 217,5019,18766,967
    Year 317,7186,96947,249
    Year 422,2174,47125,032
    Year 525,0321,6550

    Factors affecting ICICI Personal Loan Interest Rates

    ICICI personal loan interest rate varies from person to person due to various factors. Some major factors affecting the interest rates are as follows:

    • Loan tenure:

      Shorter term loans may attract a higher rate of interest when compared to loans with a longer tenure.

    • Repayment capacity:

      ICICI Bank checks a person’s repayment capacity before offering him a loan and before deciding the interest rate. Borrower’s income, his assets and his creditworthiness is looked into before the bank offers a rate to him. CIBIL report gives detailed information about the borrower’s repayment capacity, it has all the details of the previous loans he had taken and repaid and it also gives information on how he is paying off his credit card bills.

    • Borrowing class:

      The borrower’s age also plays a crucial role in deciding the interest rate. ICICI Bank offers personal loan to the salaried individuals, self-employed and doctors.

    • Relationship with the bank:

      ICICI Bank offers special offers, interest rates and charges to those who have been having a long term relationship with the bank. You may even get a discount on the processing charges or the bank might reduce your interest rate if you have managed to make timely payments in the past.

    • Location:

      The borrower’s location will also avail specific interest rate. If the borrower is living in the metro city, he may get a lower interest rate.

    The interest rates and processing charges are charged at the sole discretion of the bank and are subject to change.

    How CIBIL score affects ICICI Personal Loan Interest Rates?

    CIBIL Score plays a major role in deciding an applicant’s interest rate. CIBIL report consists of your repayment history and shows how efficiently you have made the payments and if you have missed making any payments on your loans or credit cards. The ideal score that is accepted by the bank is 750 and above. Those having a lower score will be termed as risky and the bank might offer you a personal loan at a higher interest rate. So, before applying for a loan, make sure that you check your CIBIL score. If your score is low, fix it and only then apply for the loan.

    Key things about ICICI Personal Loan Interest Rates

    Before applying for an ICICI Personal Loan, you must know the following factors:

    • Fixed interest rate is when a fixed rate is set on the personal loan and you have to pay a fixed amount of interest throughout the tenure.
    • To avail an ICICI Personal Loan, you need not have a guarantor or provide any security.
    • When the repo rate goes up, your interest rate will also go up.
    • ICICI banks offer personal loans to self-employed, salaried individual and doctors. They offer the interest rate based on the applicant’s credit score.
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  • ICICI Personal Loan Interest Rates Reviews

    • ICICI Bank Personal Loan
      "Very much happy with the service"
      0.5 4.0/5 "Great!"
      The main highlight of ICICI Bank personal loan is quick processing. ICICI took very less time to process the personal loan request. I am very much happy with the interest rate and processing fee charged by ICICI Bank. Furthermore, ICICI took hardly 3 days of time to disburse the funds after submitting my documents.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 22, 2017
    • ICICI Bank Personal Loan
      "Satisfied"
      0.5 3.0/5 "Satisfactory"
      Rate of interest was okay for the personal loan with the ICICI bank and it took around fifteen days of time to get the loan. I have got the lesser amount rather than what they have quoted. Processing charges were also huge one with them.
      Was this review helpful? 0
      , kottayam
      Reviewed on Sep 22, 2017
    • ICICI Bank Personal Loan
      "High interest rate"
      0.5 3.0/5 "Satisfactory"
      Due to the high interest rate with the ICICI BANK i canceled the application with them. The interest rate they provided was 14.99% it almost comes around 15 percentage. So i found it difficult to pay that much of interest rate for such a long period .
      Was this review helpful? 0
      , karnal
      Reviewed on Sep 22, 2017
    • ICICI Bank Personal Loan
      "Best financial service provider"
      0.5 4.0/5 "Great!"
      Through ICICI BANK i have requested for a personal loan.When the executive called me regarding the verification i told him i am not staying in the location which i have provided with. So he told me If there is any change in the given address then they cant provide the loan and close the deal though I have not taken the loan I am still happy with the service as I hold an account with the same bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 22, 2017
    • ICICI Bank Personal Loan
      "No Response"
      0.5 3.0/5 "Satisfactory"
      I applied for a personal loan with ICICI BANK but i did not got any proper response from the bank end. Thus my application got closed. I waited for there call ans no one from the bank end turned up till now. That was really disappointing. Such a well known brand should not respond in this manner.
      Was this review helpful? 0
      , angul
      Reviewed on Sep 22, 2017
    • ICICI Bank Personal Loan
      "Poor response "
      0.5 2.0/5 "Expected more"
      I applied for a personal loan with ICICI BANK. My application got rejected as i have taken a two wheeler loan from INDUSIND bank but i have pay the whole amount with the bank.They have shown that i have a pending of 750 rupees,that affected my credit score and my application got rejected.
      Was this review helpful? 0
      , thrissur
      Reviewed on Sep 22, 2017
    • ICICI Bank Personal Loan
      "Approachable bank"
      0.5 4.0/5 "Great!"
      From ICICI BANK i have requested for a personal loan. I receive my salary only through my salary account but my company would not provide any salary slip. ICICI bank executive informed me only if i can able to produce the salary slip they can proceed the loan application.,
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 22, 2017
    • ICICI Bank Personal Loan
      "Criteria should be compromised"
      0.5 3.0/5 "Satisfactory"
      With ICICI BANK i have requested for a personal loan application. I receive my salary only through my salary account but my company would not provide any salary slip. ICICI bank executive informed me only if i can able to produce the salary slip they can proceed the loan application.,
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 22, 2017
    • ICICI Bank Personal Loan
      "Fast process"
      0.5 5.0/5 "Blown Away!"
      It was a fantastic process with ICICI Bank. The customer services are good and they were very quick to process my request. I have taken a personal loan and the interest rate and processing charges is normal. The disbursement was also on time.
      Was this review helpful? 0
      , puri
      Reviewed on Sep 22, 2017
    • ICICI Bank Personal Loan
      "Good "
      0.5 4.5/5 "Excellent!"
      My experience is okay with the ICICI bank and the rate of interest is around 11% for the personal loan. I would like to say that the customer service and other things are really fine one with them.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Sep 22, 2017
    • ICICI Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have got the personal laon with the ICICI bank because and the interest rate was around 15.9%. I would like to say that the customer service was good one for me with them. The loan amount got disbursed within a week of time.
      Was this review helpful? 0
      , new delhi
      Reviewed on Sep 22, 2017
    • ICICI Bank Personal Loan
      "Overall good"
      0.5 4.0/5 "Great!"
      I have taken a personal loan from ICICI Bank and the process to get the loan was good. But I am no happy as they do not have a part payment option, due to which I am not able to close the loan easily. The interest rate and processing charges is on the higher side.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 22, 2017
    • ICICI Bank Personal Loan
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      With ICICI bank it was not a pleasant experience. Response was not really good one with the ICICI bank. I would like to suggest that they need to understand the customer in better way. They were not transparent with me in terms of the rate of interest and tenure, they agreed upon something with me and took sign on papers for the same, but at the time of disbursement hidden charges were applied and the tenure of the loan as well as the interest rates were changed without my knowledge.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 22, 2017
    • ICICI Bank Personal Loan
      "Personal loan process"
      0.5 4.0/5 "Great!"
      ICICI Bank personal loan process was very good. Rate of interest was very high I was having an urgent requirement otherwise there was no logic behind taking this loan from ICICI Bank. The Bank was offering around 16.25% which is very high and the processing fee charged by them was 5%. Also foreclosure charges were very much applicable.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Sep 22, 2017
    • ICICI Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      The loan amount got disbursed to my account within three to four days of time. I would like to say that the response is an excellent one and the customer service is better one with the ICICI bank. I am okay with their rate of interest.
      Was this review helpful? 0
      , pune
      Reviewed on Sep 22, 2017
    • ICICI Bank Personal Loan
      "Satisfied"
      0.5 5.0/5 "Blown Away!"
      My personal loan application with the ICICI bank got closed due to some other reason and the rate of interest as 17.99%. I have not experienced their response. I dont have any suggestion to them till now. In future, I would like to go ahead with them.
      Was this review helpful? 0
      , madurai
      Reviewed on Sep 22, 2017
    • ICICI Bank Personal Loan
      "Response time has to be improved"
      0.5 1.0/5 "Really Bad"
      ICICI wan't not responded on time for Personal loan request through online channel, I have been waited around 3 to 4 days. Finally I went bank and took the loan around 1.20 lakhs at the time they done good process. I would like to suggest them to improve the response time .
      Was this review helpful? 0
      , mohali
      Reviewed on Sep 21, 2017
    • ICICI Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have approached ICICI bank for my personal loan . They have rejected my application since my account balance was low but my credit score was good. I am satisfied with their customer service and responses and the rate of interest was 13 -14% which is not bad. My overall experience was good.
      Was this review helpful? 0
      , lucknow
      Reviewed on Sep 21, 2017
    • ICICI Bank Personal Loan
      "Good service"
      0.5 1.0/5 "Really Bad"
      My loan application got rejected by the ICICI bank, saying that I have got the other EMI's to pay so that was the reason I haven't got the loan from ICICI bank. The customer service and the response was below average with ICICI bank. The rate of interest is high when compared with others banks.
      Was this review helpful? 0
      , akola
      Reviewed on Sep 21, 2017
    • ICICI Bank Personal Loan
      "Good "
      0.5 3.0/5 "Satisfactory"
      I have approached ICICI bank for my personal loan through online. They have rejected my application since I am a proprietor of my company other than that their rate of interest was average and the customer service and responses was good. I would like rate 3 out of 5 overall.
      Was this review helpful? 0
      , nellore
      Reviewed on Sep 21, 2017
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