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    We found 1 ICICI Personal Loan Interest Rates
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    Interest Rate Range
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    Tenure Range
    11.00% - 18.25% Fixed
    From .75% (min. ₹999 + applicable tax) One time fee
    20L Max
    1-5 Years
    Response Time : Within 30 minutes
    Rs.750 Amazon Voucher 100% PAPERLESS APPROVAL
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    ICICI Personal Loan Interest Rates is Rated as "Great!" by 17257 Users

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    ICICI Personal Loan Interest Rates

    ICICI Bank is a leading bank in India that extends various banking products and services to individuals across the bank. The bank offers outstanding personal loan options that will help you meet any of your numerous financial requirements. The interest rate charged by ICICI Bank for its personal loan is affordable and reasonably priced. The interest rates for ICICI personal loans start from 10.99% to 22.00% p.a.

    ICICI Personal Loan Interest Rates 2018

    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

    Learn how to compute EMIs for your ICICI Bank Personal Loan

    When you take a personal loan from ICICI Bank, it is very important to have clear knowledge about the total interest that you will be paying. You can acquire this knowledge by first computing your installment amounts for each month.

    The formula that is used for computing EMIs is E = P*r*[(1+r)^n/((1+r)^n-1)].

    Here, E refers to the monthly EMI, n refers to the number of years, and r refers to the rate of interest for each month.

    EMIs for your ICICI personal loan can be calculated with the help of an online EMI calculator offered by the official website of ICICI or various third-party financial websites. The BankBazaar website has an easy-to-use EMI calculator which can be accessed by any loan applicant.

    You will only have to key in your ICICI Bank personal loan details in this calculator. First, you will need to go to the ‘Finance Tools’ section in the main menu of the website. Here, you will have to select ‘EMI Calculator’ and then begin your calculation!

    • First, choose your loan amount by moving the slider with your mouse. Next, select your personal loan tenure in months and years. Then, enter the interest rate in percentage. You will then have to key in the processing fee, which is a particular percentage of your personal loan. You will then need to specify if you want to make a pre-payment or not by clicking ‘Yes’ or ‘No’. You can then click ‘Calculate’. You will now arrive at the monthly EMI.
    • With this calculator, you can drag the mouse to enter different loan amounts and loan tenures to understand how your loan expenses will look.
    • You can also check out the amortisation details for each year and month of your personal loan tenure. This EMI calculator is available on mobile phones with Android or iOS, and tablets as well.
    Apply for Personal Loan

    Example

    We will view an illustration to understand how the BankBazaar EMI calculator works. In the following table, we will assume that the processing fee is 2% and that the interest rate is 9.90% p.a. We have used different loan amounts and various loan tenures to see how the EMI varies for each amount. We have also assumed that the borrower is not interested in making any pre-payment.

    Loan amount (Rs.) Processing Fee Interest rate (p.a.) EMI for 2 years (Rs.) EMI for 3 years (Rs.) EMI for 4 years (Rs.) EMI for 5 years (Rs.) EMI for 6 years (Rs.) EMI for 7 years (Rs.)
    10 Lakh 2% 9.90% 46,099 32,220 25,315 21,198 18,475 16,550
    15 Lakh 2% 9.90% 69,148 48,330 37,972 31,797 27,713 24,824
    20 Lakh 2% 9.90% 92,198 64,441 50,629 42,396 36,951 33,099
    25 Lakh 2% 9.90% 1,15,247 80,551 63,286 52,995 46,189 41,374
    30 Lakh 2% 9.90% 1,38,296 96,661 75,944 63,594 55,426 49,649
    35 Lakh 2% 9.90% 1,61,346 1,12,771 88,601 74,193 64,664 57,923
    40 Lakh 2% 9.90% 1,84,395 1,28,881 1,01,258 84,791 73,902 66,198

    How to Calculate Interest on Your ICICI Bank Personal Loan

    Now that you know how EMIs can be calculated with an online calculator, we will show you how to compute your overall interest for your ICICI Bank Personal Loan. The components of your loan EMI are interest and principal. Typically, a borrower pays high interest during the initial part of the full loan tenure. During the end of the loan tenure, the borrower will be paying a higher principal amount.

    Example depicting the breakup of interest and principal in your monthly installments

    When you utilise the BankBazaar ICICI Bank personal loan EMI calculator, you will arrive at the monthly installment amount. Further, when you check the amortisation details, you will get an idea about the interest amount and the principal amount that you will be paying for your loan.

    In the following table, you can see the breakup clearly.

    We will assume that you take a personal loan worth Rs.5 lakh from ICICI Bank. The loan period starts from September 2017 for a period of 4 years. We will assume that you will not be making any pre-payment with this loan. The interest rate for your loan is assumed to be 9.75% p.a. Your EMI will then be Rs.12,621.

    The total interest outstanding for this loan will be Rs.1,05,825. Your total processing fee will be Rs.10,000.

    Year Principal paid (in Rs.) Interest paid (in Rs.) Total of principal paid and interest paid (in Rs.) Unsettled loan balance (in Rs.)
    2017 (From September) 34,654 15,830 50,484 4,65,345
    2018 1,10,956 40,501 1,51,457 3,54,389
    2019 1,22,271 29,183 1,51,454 2,32,117
    2020 1,34,740 16,717 1,51,457 97,377
    2021 (Until August) 97,377 3,594 1,00,971 0

    ICICI Bank Personal Loan Fees and Charges

    Loan processing fee or origination fee Up to 2.25% p.a. of loan amount along with applicable GST
    Extra interest on late payment of fee 24% p.a.
    Personal loan interest rate 10.99% p.a. to 22.00% p.a.
    Pre-payment charges 5% p.a. of unsettled principal amount along with applicable GST
    Repayment mode swap charges Rs.500 for each transaction along with the GST
    Account statement charges Rs.200 for each schedule along with the GST
    Foreclosure or repayment charges Rs.200 for each schedule along with the GST
    Duplicate No Due Certificate (NDC) OR No Objection Certificate (NOC) Rs.500 for each NOC along with the GST Rs.200 for each NDC along with the GST
    EMI bounce charges Rs.400 for each bounce along with the GST
    Amortisation schedule charges Rs.200 for each schedule along with the GST
    Loan cancellation charges Rs.3,000 along with the applicable GST
    Auto debit bounce charges Rs.50 along with the applicable GST
    • These interest rates can be modified or updated by ICICI Bank on a regular basis.
    • GST and other taxes will be imposed on the fees and charges according to the existing rates.
    • These interest rates have been effective from August 1, 2009.

    Interest rate range for ICICI personal loans from April 2017 to June 2017

    Maximum 19.5%
    Minimum 10.25%
    Mean 13.92%

    Marginal Cost of Funds Based Lending Rate (MCLR) for ICICI Personal Loans

    The MCLR rates are applicable for new borrowers. The latest MCLR rates charged by ICICI Bank for its personal loan are as follows:

    Tenure-wise benchmark MCLR Benchmark MCLR
    Overnight 8.95%
    1 month 8.95%
    3 months 9.05%
    6 months 9.10%
    1 year 9.15%

    ICICI Customer Care for Personal Loans

    If you have any questions or doubts about your ICICI personal loan, you can get in touch with the bank via the following ways:

    • You can send a text message to 5676766 with the content ‘PL’.
    • You can request a call from the bank by filling an online form with your name, last name, pin code, contact number, product type, and your email address.
    • You may also call the bank at the number given for each location and talk to a representative to get your doubts clarified.
    • You may also visit a bank branch and meet the customer care representative at the branch.

    ICICI Personal Loan Interest Rate FAQs

    1. How long does ICICI Bank take to disburse a personal loan application?

    ICICI Bank usually takes 72 hours to disburse a personal loan application.

    2. How does ICICI Bank credit the personal loan amount if the loan application is accepted?

    ICICI Bank will provide you with your personal loan amount via direct credit with the help of Fund Transfer (FT).

    3. What are the payment modes through which I can repay my ICICI personal loan?

    You can repay your ICICI personal loan through Electronic Clearing Service (ECS), Post-Dated Cheque (PDC), or Standing Instruction (SI).

    4. What is the minimum loan tenure for ICICI Personal Loan?

    The minimum loan period for ICICI Personal Loan is 12 months.

    5. What is the process that needs to be followed for the prepayment of an ICICI Personal Loan?

    When you plan to prepay your ICICI personal loan, you will need to first get a request letter which should be signed by you. Next, you will have to keep your PAN card ready if you plan to prepay with cash and if your prepayment amount is higher than Rs.50,000. In case, you cannot visit the bank branch when you want to prepay your loan, you can make arrangements for a representative. Your representative will need to carry an authority letter which is duly signed by you. Your representative will also need to carry your (the actual loan borrower) valid ID proof.

    6. What is the maximum personal loan amount offered by ICICI Bank?

    The maximum personal loan amount provided by ICICI Bank is Rs.20 lakh.

    7. Is there any minimum time limit after which I can prepay my ICICI Bank personal loan?

    Yes, you can prepay your ICICI personal loan only after you complete a period of 6 months. You will not be allowed to foreclose your loan before this.

    8. Will I need to make arrangements for any guarantor while applying for a personal loan from ICICI Bank?

    No, you do not need any guarantor in order to apply for a personal loan from ICICI Bank.

    9. What is the Base Rate for ICICI Bank personal loans?

    The Base Rate for ICICI Bank personal loans is 9.35% p.a. which has been effective from October 5, 2015.

    10. Does ICICI Bank offer any personal loan product for NRIs?

    Yes, ICICI Bank has exclusive personal loan options for NRIs. You do not have to offer any security or collateral. You can get a loan of up to Rs.10 lakh.

    11. What is the starting interest rate for personal loans for NRIs offered by ICICI Bank?

    The interest rates for ICICI Bank NRI personal loans start from 15.49% p.a.

    12. What is the maximum tenure for personal loans for NRIs provided by ICICI Bank?

    The maximum tenure for NRI personal loans provided by ICICI Bank is 36 months.

    13. If I want to make any modifications to my contact information that is recorded with ICICI Bank for my personal loan, what should I do?

    You can make changes to your contact information such as mobile number, mailing address, or email ID with the help of ICICI customer care or ICICI Internet Banking or by visiting any ICICI Bank branch. You can login to the internet banking platform of the bank with your user ID and password, and request for changing address or updating contact number and email address.

    You may also call the 24-hour customer care centre of the bank and get your contact details modified.

    You may also go to any ICICI Bank branch and then request for changing your contact information.

    14. Does ICICI Bank provide personal loans for business activities?

    Yes, the bank provides personal loans for business activities for self-employed people.

    15. Does ICICI Bank offer balance transfer features for personal loans?

    Yes, you can go for a balance transfer facility for an ICICI personal loan if you have completed paying 12 EMIs.

    16. Does ICICI Bank provide any top up facility for present personal loans?

    Yes, the bank provides a top up facility for existing personal loans if you have completed paying 12 EMIs. You can ask for a top up facility by visiting the bank’s internet banking platform or by going to any ICICI bank branch or by calling the bank’s customer care centre.

    17. Should the applicant be residing in India to apply for an ICICI NRI personal loan?

    Yes, to apply for an ICICI NRI personal loan, the applicant should be a resident Indian and the co-applicant will be the NRI who is a close relative of the main applicant.

    18. Does ICICI Bank offer any insurance option for ICICI personal loans?

    Yes, you can take the insurance plan known as ICICI Pru Loan Protect Plus plan to receive coverage while paying your personal loan EMIs.

    ICICI Personal Loan Interest Rates Reviews

    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been holding my personal loan with ICICI bank, the loan amount they have given me was sufficient and the rate of interest they have charge me was up to 11.5% it was nominal and the processing fee they have charged me was nominal it was below 2000 and i have took loan for 2 years, and there overall service was good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 19, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with ICICI bank and my experience was good, the loan amount was for Rs 3.4 lacs and the rate of interest was little high when compared to others. Customer service was good with ICICI bank and the tenure period is 5 years.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 19, 2018
    • ICICI Bank Personal Loan
      "Not satisfied with ICICI loan services"
      0.5 3.0/5 "Satisfactory"
      I have applied the loan amount of Rs. 2.5 lakhs with ICICI. Since the process was taken for a long time hence i have rejected the loan. It was a bad cusotmer care service from ICICI. When i applied with the different interest rate but they have provided the different interest rate. I'm not sure about the processing fee. They have to do a process fast to the customer.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 18, 2018
    • ICICI Bank Personal Loan
      "Average"
      0.5 4.0/5 "Great!"
      MY personal loan was taken with ICICI BANK , services is not up to the mark i have to take lot of follow up with this bank . The tenure period is 5year and they gave me preclosere option also with this bank . Rate of interest was too high and even processing fee is high.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 18, 2018
    • ICICI Bank Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have been using Personal loan with ICICI bank , there rate of interest and processing fee was nominal and there customer support team was okay not that much good and they have not taken any hidden charges and the loan amount which they have given me was okay.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 18, 2018
    • ICICI Bank Personal Loan
      "Good experience"
      0.5 4.0/5 "Great!"
      For my elegibility they have provided the loan service in ICICI. They have provided the highest interest rate which is 15.5% for one year. I have bought the loan of Rs. 1 lakh. The documentation process was fast and i have received the loan on time. I have no complaints on the overall loan services.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 17, 2018
    • ICICI Bank Personal Loan
      "Good loan services"
      0.5 4.0/5 "Great!"
      Taken my personal loan with ICICI bank 2 months ago. I have got my loan amount on a correct time. I got a loan amount of Rs. 1.20 lakhs and they have given me a interest rate 16.40% and the processing fee was around 1%. The documentation process was hampering. There was a issue in the documentation process.
      Was this review helpful? 0
      , kolkata
      Reviewed on Nov 17, 2018
    • ICICI Bank Personal Loan
      "Awesome services from ICICI"
      0.5 5.0/5 "Blown Away!"
      I was waited for few days for loan disbursal. I have applied the loan amount of Rs. 1 lakhs. They have given me a interest rate of 14.5% and i'm not happy about it. They have deducted Rs. 2250 from the loan amount for the processing fee, I have chosen the tenure period of 36 months. I have not find any difficulties in this loan. They have asked the kyc details many times.
      Was this review helpful? 0
      , allahabad
      Reviewed on Nov 17, 2018
    • ICICI Bank Personal Loan
      "Need to reduce the interest rate and process to be quick"
      0.5 4.0/5 "Great!"
      The services are good and I have taken the personal loan with ICICI Bank. The rate of interest is bit high when compared to other banks. They have taken one week to complete the procedure for documentation. The payment mode is ECS. I opt the loan for 2 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 17, 2018
    • ICICI Bank Personal Loan
      "Need to reduce ROI"
      0.5 4.0/5 "Great!"
      My personal loan application was approved with ICICI bank and the experience was good, i requested the loan amount for Rs 2.7 lacs but they gave Rs 1.5 lacs. The process took 40 days to complete and the rate of interest was high when compared to other banks. Customer service was good and they responded on time.
      Was this review helpful? 0
      , pondicherry
      Reviewed on Nov 16, 2018
    • ICICI Bank Personal Loan
      "Very Good services"
      0.5 5.0/5 "Blown Away!"
      I have purchased the ICICI personal loan 1 month back. Overall experience was good. I'm not satisfied with the interest rate. They have provided the huge interest rate and i was expected the interest rate pf 11.5% however they have given the interest of 16%. When i asked them to reduce it they were not ready to do the same. The procesing which they have charged was Rs. 2000.
      Was this review helpful? 2
      , bangalore
      Reviewed on Nov 16, 2018
    • ICICI Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      The rate of interest and the charges are high in ICICI Bank. They have taken 10 days to process the loan. I have taken 1L as a personal loan, they charged 2K. The customer support and response was fine. I have to pay monthly Rs.4,932 through online. The loan duration is 2 years.
      Was this review helpful? 1
      , new delhi
      Reviewed on Nov 16, 2018
    • ICICI Bank Personal Loan
      "Fine experience with ICICI"
      0.5 5.0/5 "Blown Away!"
      I have a bank account with ICICI thats the reason i have gone with ICICI for my personal loan. The interest rate they have provided earlier is 11.99% after they have changed 12.29% when i ask for the bank people they have said that according to my criteria they have provided the same. I have asked the tenure period for 5 years but they have given only 4 years.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 16, 2018
    • ICICI Bank Personal Loan
      "Good In Need"
      0.5 5.0/5 "Blown Away!"
      I hold a Salary account with ICICI. Once i had a call from the bank and they asked me if i am looking for personal loan, i said no and they explained me that it would be sanctioned in a minute if i say yes. They said i am eligible for 4 lakhs of amount., Then just to cross check i said let me go for 40k. And without any documentation work what i experienced was the amount 40k was sanctioned and was credited to my account within minutes. I was shocked and was amazed for this quick response.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 16, 2018
    • ICICI Bank Personal Loan
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with ICICI. When i was applying the loan they have said different interest rates and after that they have given different interest rate anyway i'm happy about the interest rate. They have provided me the interest rate of 13.5% and they have charged me 2500 as a processing fee and i have purchased the loan 1 month ago. I never visited their branch so far.
      Was this review helpful? 0
      , ahmednagar
      Reviewed on Nov 16, 2018
    • ICICI Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been holding my personal loan with ICICI bank, they have provided Excellent service, like i did not face any difficulty in documentation part they have given me loan amount up to 45,000, and they have charged rate of interest up to 14% it is nominal for me and they have charged processing fee up nominal even they said took charges for insurance from loan up to 5000, there service was good.
      Was this review helpful? 2
      , pune
      Reviewed on Nov 15, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My personal loan was taken with ICICI BANK , i got preclosere option with this bank , I ma not happy with the process it took much time to dispose the loan . They gave 5year of tenure period . They charge nominal interest rate but processing was too high with this bank .
      Was this review helpful? 1
      , hosur
      Reviewed on Nov 15, 2018
    • ICICI Bank Personal Loan
      "Awesome Experience"
      0.5 5.0/5 "Blown Away!"
      Since i'm holding the salary account with ICICI, i have selected this company this for personal loan. They have taken 2.5% as a processing fee and they have provided the interest rate of 14.5%. I have received the loan on time. The documentation process was good. There is no charges for the pre-closure and there are some charges for partial payment.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 15, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with ICICI BANK , they gave 5year of tenure period . They charge very high rate of interest and processing fee .The experience with this bank is pretty good , i did not face any issue at the time of documentation even the process was very quick
      Was this review helpful? 0
      , chandigarh
      Reviewed on Nov 15, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have been holding my personal loan with ICICI bank recently,The loan amount they have given me was not sufficient they have deducted 10,000 and i asked for top up they said after 6 months only now i am not eligible to take top up loan and the rate of interest and processing fee was nominal and i took this loan for 5 years , there was delay in getting my loan due to dussera holiday but i got loan after my follow ups from the bank.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 15, 2018
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