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. ₹1,499 + 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 15646 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.

    ICICI Personal Loan Interest Rates Reviews

    • ICICI Bank Personal Loan
      "Response part should be improved"
      0.5 3.5/5 "Pretty good"
      ICICI taken all the documents then no body contacted me back, they gave me the relationship manager number then I was following up. Then ICICI taken week times to get back to me, finally they have disbursed the amount with better rate of interest.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 19, 2017
    • ICICI Bank Personal Loan
      "Can do better"
      0.5 3.0/5 "Satisfactory"
      No one contacted me from ICICI Team for the personal loan that is why i had not taken the personal loan as of now i had taken a mobile through HDB financial services. No calls no messages nor mail that I had received from ICICI bank team. It was my Manager who recommended me for ICICI.
      Was this review helpful? 0
      , kumbakonam
      Reviewed on Oct 19, 2017
    • ICICI Bank Personal Loan
      "Personal loan"
      0.5 5.0/5 "Blown Away!"
      The rate of interest charged by ICICI Bank was around 10.99 for the persona loan, but processing fee is some what high 3%, I personally feel ICICI bank is doing good, why because HDFC bank is charging 5% as the foreclosure charge where as ICICI bank hardly charges 3% for the above mentioned loan.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 19, 2017
    • ICICI Bank Personal Loan
      "Its Good"
      0.5 5.0/5 "Blown Away!"
      Behalf of me, my son have taken a loan from the bank hence my need got fulfilled. ICICI bank is good they have called me twice, once time I was work busy with some other work, hence they called me again. Finally I informed them I don't have any requirement right now.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 19, 2017
    • ICICI Bank Personal Loan
      "Go head for ICICI"
      0.5 5.0/5 "Blown Away!"
      I had a personal loan with ICICI for the amount Rs. 2 lakhs. After six months of EMI, my salary structure got changed and I started receiving salary delay. But whenever I receive the salary I used to make payment bank have accepted and without any late fee they helped to process the payment.
      Was this review helpful? 0
      , pune
      Reviewed on Oct 19, 2017
    • ICICI Bank Personal Loan
      "Its Good"
      0.5 5.0/5 "Blown Away!"
      ICICI Bank requested to me to share the document for the personal loan but at the time unfortunately I held with some other work. Hence I could not process my personal loan with them, now again I am planning to take personal loan with same bank.
      Was this review helpful? 0
      , medak
      Reviewed on Oct 19, 2017
    • ICICI Bank Personal Loan
      "Its Good"
      0.5 4.0/5 "Great!"
      I am planning to invest the money in small business, but ICICI asked me to submit three years of work experience. But it has been two years old, that is the reason I could not process my online loan request. Anyway two days back I opened saving account ICICI bank, through them I am going to process the loan.
      Was this review helpful? 0
      , kozhikode
      Reviewed on Oct 19, 2017
    • ICICI Bank Personal Loan
      "Its average"
      0.5 4.0/5 "Great!"
      ICICI Bank expected the salary of Rs.17500 on monthly average, but I was getting the salary of Rs.15,000. Hence I could process my loan with ICICI. Therefore they have closed the loan application. I was looking for principal amount around Rs.1 lakh it was not successful.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 17, 2017
    • ICICI Bank Personal Loan
      "Poor services"
      0.5 1.0/5 "Really Bad"
      After me applying for a personal loan with ICICI Bank, I received a call and it was from a branch which was pretty far away. So I requested for a branch which is near by to me. Since I got no call from them, I contacted them personally and their phone is not in coverage. Due to which I postponed the loan decision.
      Was this review helpful? 0
      , guntur
      Reviewed on Oct 17, 2017
    • ICICI Bank Personal Loan
      "Its good"
      0.5 4.0/5 "Great!"
      My loan was not been sanctioned with ICICI, because I already have other loan based on property and one personal loan. Hence ICICI not willing to do balance transfer option. I am an existing customer of the bank , but I am fine with their norms.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Oct 17, 2017
    • ICICI Bank Personal Loan
      "AVERAGE"
      0.5 5.0/5 "Blown Away!"
      I am happy with the services of ICICI Bank. I have taken a personal loan and I got the funds in my account within ten days. The rate of interest was very high, because my company was not listed in my account. The rate of interest was of 18% and they were high on the charges as well. I would suggest that they need to see the customers statement record and provide a lesser rate than too see to the company listed criteria.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 17, 2017
    • ICICI Bank Personal Loan
      "Not satisfied"
      0.5 2.0/5 "Expected more"
      ICICI Bank contacted me for the personal loan and they asked me for couple of documents as I was talking to the executive about the same. My call was disconnected. It was not a very good experience with the bank. They need to be more professional.
      Was this review helpful? 0
      , mumbai
      Reviewed on Oct 17, 2017
    • ICICI Bank Personal Loan
      "Communication was proper"
      0.5 3.0/5 "Satisfactory"
      ICICI Banks communication with me regarding the Personal Loan application was top notch, I got the details pretty swiftly and efficiently. I felt the Rate of Interest of 17.99 % to be little high, but considering the urgency I was in it was alright for me. I also felt the new executive with the Bank lacked the communication required.
      Was this review helpful? 0
      , jabalpur
      Reviewed on Oct 17, 2017
    • ICICI Bank Personal Loan
      "Okay"
      0.5 4.5/5 "Excellent!"
      My experience with the ICICI bank was really good one for me with them and the customer service was really fine one for me. The loan amount got disbursed within a week of time. I am happy for the personal loan, which got disbursed.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 17, 2017
    • ICICI Bank Personal Loan
      "excellent service"
      0.5 4.5/5 "Excellent!"
      I have got a personal loan from ICICI I am very much happy with their service before the time I applied for the loan the rate of interest was high with them but once I applied for a loan their branch manger have reduced the rate of interest rate and already I have uploaded the documents in the website so they have not asked for my documents during the process ,service from ICICI for my personal loan was excellent.
      Was this review helpful? 0
      , mumbai
      Reviewed on Oct 16, 2017
    • ICICI Bank Personal Loan
      "Dissatisfed"
      0.5 1.0/5 "Really Bad"
      ICICI interest rate was very high for the personal loan, I have taken the amount 3.6 lakhs for the interest rate of Rs. 12.5% of interest it was huge and also they taken around Rs.10,000 as a processing fee. I am disappointed with them on charges.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 16, 2017
    • ICICI Bank Personal Loan
      "Overall good"
      0.5 4.0/5 "Great!"
      It was a good experience with ICICI Bank for the personal loan. The customer services are good and the response is also good. There has been no hassles in the document collection. The only drawback is the loan amount. I was initially offered 3.5 Lakhs and the bank wanted to offer only 1.5 lakhs. Then I refused the loan and the bank finally disbursed two lakhs.
      Was this review helpful? 0
      , jamshedpur
      Reviewed on Oct 16, 2017
    • ICICI Bank Personal Loan
      "Good response"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with ICICI bank. I got a proper and prompt response. The customer service is good. The interest was nominal. The documentation process was good. They have sanctioned the loan on time, The preclosure and part payment option is good.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 16, 2017
    • ICICI Bank Personal Loan
      "Hassle Free"
      0.5 5.0/5 "Blown Away!"
      I don't have any issues with ICICI, they gave me good service, I took the personal loan of ICICI for the principal amount of Rs. 4 lakhs it has the tenure of four years. I am quite fine with their interest rate and processing fee even EMI option is also good.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Oct 16, 2017
    • ICICI Bank Personal Loan
      "Best service "
      0.5 5.0/5 "Blown Away!"
      I had taken a personal loan from ICICI bank for an amount of one lakh at low interest rate they had taken a minimum amount of processing fees from my principle amount.They took almost 5-7 days to credit the amount. It was a much quick process as compared to other banks in the market.
      Was this review helpful? 0
      , mumbai
      Reviewed on Oct 16, 2017
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