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 option available
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    Customer Reviews

    ICICI Personal Loan Interest Rates is Rated as "Great!" by 14769 Users

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    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
      "Good service"
      0.5 5.0/5 "Blown Away!"
      My personal loan got disbursed form ICICI bank within 4 days of time. The customer service is good with ICICI bank. The rate of interest and the charges are very high when compared with others. The required loan amount has been disbursed and I am satisfied with the service.
      Was this review helpful? 0
      , new delhi
      Reviewed on Aug 16, 2017
    • ICICI Bank Personal Loan
      "Term and condition should be flexible to all"
      0.5 1.0/5 "Really Bad"
      There was out going loan running with Bajaj finserv because they charged me high rate of interest. So I thought to go with balance transfer with ICICI but they closed the application because they not ready to transfer entire amount. Even I do have salary account with ICICI but they didn't consider it.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Aug 16, 2017
    • ICICI Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I haven't got the personal loan from ICICI bank. I thought I will get personal loan with low interest rate from ICICI bank but unfortunately I got the home credit services so that was the reason I haven't proceed with ICICI bank personal loan.
      Was this review helpful? 0
      , agra
      Reviewed on Aug 16, 2017
    • ICICI Bank Personal Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      Personal loan disbursement was done in 2 days by ICICI bank . Rate of interest charged was 11.69% and the processing fee charged was Rs.3000 rupees. Paper works collected was very simple. Overall service is good the tenured I have taken 5 years of time and the EMI is around 11000 rupees
      Was this review helpful? 0
      , jalandhar
      Reviewed on Aug 16, 2017
    • ICICI Bank Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      ICICI bank has promised me that they will come and collect the document on the assigned date and time but no one turned up . The rate of interest which was offered by ICICI bank was high when compared with others, The service which was given by ICICI was good. They need to improve in their response part.
      Was this review helpful? 0
      , vapi
      Reviewed on Aug 16, 2017
    • ICICI Bank Personal Loan
      "Response part should be improved"
      0.5 3.0/5 "Satisfactory"
      I got a call on initial stage from ICICI for my personal loan request , then there was no response. Then I tried reaching them but the number which I got call it was not reachable condition. ICICI should improve a response part to give better service to the customer.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Aug 16, 2017
    • ICICI Bank Personal Loan
      "Overall good"
      0.5 4.0/5 "Great!"
      It was a very good experience with ICICI Bank and the customer services was good. The executive contacted me on time and processed the details. The after loan services are satisfactory as well. I got the personal loan letter on time. The interest rate and processing charges are reasonable too.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 16, 2017
    • ICICI Bank Personal Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from ICICI Bank and the process was good. It was very much on time and I was regularly updated about the status. The rate of interest and charges was also normal and decent like around they have charged 13%. Overall I would say that experience was good availing loan from ICICI.
      Was this review helpful? 0
      , jalgaon
      Reviewed on Aug 16, 2017
    • ICICI Bank Personal Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      My salary account is with ICICI Bank. They are good in the banking services. Even my loan experience is very smooth with them. But I have no issues with the banking part. The customer support is good. The online facilities are also convenient for me loan amount I have applied for 4.25 lakhs, processing fee they have charged is around 10000 rupees but initially they told me that it will be charged for 3 to 4 thousand rupees
      Was this review helpful? 0
      , bilaspur
      Reviewed on Aug 16, 2017
    • ICICI Bank Personal Loan
      "Dissatisfied service"
      0.5 1.0/5 "Really Bad"
      I was not getting standard salary but I do get some allowance on monthly basic. But ICICI was not accepted the allowance based on their salary norms. They have rejected my application. and I have taken gold loan from ICICI whenever I pay total outstanding to redeem my jewel, they show the interest rate as outstanding. Hence my credit score gets affected it should not be happen. Therefore I am going to close everything with ICICI.
      Was this review helpful? 0
      , tiruchirapalli
      Reviewed on Aug 16, 2017
    • ICICI Bank Personal Loan
      "Hassle free process"
      0.5 5.0/5 "Blown Away!"
      Happy to get associated with ICICI bank, it was completely a hassle free process with ICICI Bank with regards to personal loan, I did not face any difficulties, the executives were very humble . He was ready to help the customer out at any point of time his name was Ayeesh. They hardly took 2 days for disbursement of loan. Even the processing fee was very less and interest rate was also fine.
      Was this review helpful? 0
      , ernakulam
      Reviewed on Aug 16, 2017
    • ICICI Bank Personal Loan
      "AVERAGE"
      0.5 3.5/5 "Pretty good"
      My personal loan is with ICICI Bank. It was delayed for 15 to 20 days but the after services from them was on time through the whole process. The documents were taken on time but they had issues this documents wasn't there kind of, I have even escalated this issue to branch manager later after 20 days my loan got disbursed.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Aug 16, 2017
    • ICICI Bank Personal Loan
      "AVERAGE"
      0.5 3.0/5 "Satisfactory"
      It was not a timely process with ICICI Bank for the personal loan. They have not supported me a lot and it was not at all a good experience, I have applied for 1 lakh loan received the amount of 92000 rupees remaining they have charged for processing fee and insurance. They have offered me a rate of interest of about 16.75% which is very high when compared with others.
      Was this review helpful? 0
      , bhubaneshwar
      Reviewed on Aug 16, 2017
    • ICICI Bank Personal Loan
      "Fair Service"
      0.5 4.0/5 "Great!"
      This is my first loan experience with ICICI bank. I approached third party source for my loan requirement. And they diverted me to the ICICI bank. ICICI bank quoted a good interest rate for my personal loan and all the services which I received from the bank was good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 16, 2017
    • ICICI Bank Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I have asked ICICI bank executives to close the application because of their high interest rate. The customer service is good with ICICI bank and the response part was also good with ICICI bank. I would like to suggest ICICI bank to decrease their interest rate.
      Was this review helpful? 0
      , tirupati
      Reviewed on Aug 16, 2017
    • ICICI Bank Personal Loan
      "Fast process & good communication"
      0.5 4.5/5 "Excellent!"
      I got a quick response and it was a immediate disbursement from ICICI Bank. I have taken a personal loan and I got the funds in my account in three to four days. The services was fast and the communication was also excellent. The rate of interest was around 15% which was a bit high, but I am happy about the fast process.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 16, 2017
    • ICICI Bank Personal Loan
      "Below average service"
      0.5 1.0/5 "Really Bad"
      I have approached ICICI bank for my personal loan through a channel partner, Initially they gave a call and explained me about the product after that they told they will give call back but there was no response from ICICI bank so that was reason I haven't proceed with ICICI bank personal loan.
      Was this review helpful? 0
      , guntur
      Reviewed on Aug 16, 2017
    • ICICI Bank Personal Loan
      "Fair Service"
      0.5 4.5/5 "Excellent!"
      Initial part, ICICI did not provide a proper response for my loan application. They were taking more time in order to process my loan application. I had to sent a mail and sought some assistance from third party. But later part, the bank was so supportive and sanctioned the loan without any issues.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 16, 2017
    • ICICI Bank Personal Loan
      "Delayed Service "
      0.5 4.0/5 "Great!"
      If everything is happening on time, it would be more convenient. Here, for my personal loan, I could not say that the loan process completed on time, because they took more time to complete the same. Of course, I did not face any issues during the loan, but the time management is equally important for the loan process. Customer service was good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Aug 16, 2017
    • ICICI Bank Personal Loan
      "Satisfied with the services"
      0.5 4.0/5 "Great!"
      For the personal loan I had no hassles with ICICI Bank and the banking services are good. The customer support was quick to take my documents and also process the disbursement on time. The rate of interest and processing charges was also comfortable.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 16, 2017
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