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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 100% PAPERLESS APPROVAL
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    ICICI Personal Loan Interest Rates is Rated as "Great!" by 16802 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
      "Services are good"
      0.5 4.0/5 "Great!"
      The process was good with ICICI Bank for the personal loan and they collected the documents on time and it was taken at my place. The rate of interest is around 10.99% which is okay for me and the processing fees is also nominal. The loan disbursed was as needed with the tenure for five years.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 22, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a personal loan from ICICI bank and the loan experience was good, the loan amount was for Rs 3 lakhs with nominal interest rate when compared to all other banks. The tenure period for this loan is 4 years and there are no preclosure charges for this loan.
      Was this review helpful? 0
      , secunderabad
      Reviewed on May 22, 2018
    • ICICI Bank Personal Loan
      "Good. Can do better on the rates"
      0.5 5.0/5 "Blown Away!"
      The process is good with ICICI Bank and I received the personal loan in one month. The documents were collected on time and the disbursement was as per my need. The rate of interest is of 14% and the processing fees is of 2600 which is on the higher side.
      Was this review helpful? 0
      , chennai
      Reviewed on May 22, 2018
    • ICICI Bank Personal Loan
      "Good experience"
      0.5 4.0/5 "Great!"
      The process was very good and smooth with ICICI Bank and I got the personal loan in less than a week. The rate of interest is around 15% and the processing fees was of 2500, which is on the higher side when compared to the other banks. The customer services and response is excellent, the guy came and guided me in the whole process.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 22, 2018
    • ICICI Bank Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      My personal loan experience was good with ICICI bank, the loan amount was for Rs 1.5 lakhs with nominal interest rate when compared to other banks. The process was quick and i received my loan amount on time. The tenure period for this loan is 3 years and the customer service was good.
      Was this review helpful? 0
      , chennai
      Reviewed on May 21, 2018
    • ICICI Bank Personal Loan
      "High Processing Fee"
      0.5 3.5/5 "Pretty good"
      I have taken a person loan from ICICI. I have taken a loan 7 months ago. Since i have a salary account with ICICI, they did not ask for much documents. It took 10 days to get a loan from ICICI Bank. They offering a interest rate of 16.42%. Total tenure of the loan is 2 years. I'm paying the EMI of Rs. 5300. I have taken loan amount of Rs. 1.5 Lakhs. Processing fee is high when compared to other banks.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 21, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The personal loan process was good from the ICICI bank but the rate of interest and the charges were quite high and they haven't gave me any chance to negotiate. They took around 3 weeks time to disburse the loan amount. The rate of interest and the charges need to be reduced.
      Was this review helpful? 0
      , hosur
      Reviewed on May 21, 2018
    • ICICI Bank Personal Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      My personal loan was taken with ICICI bank few months back. The loan amount was 4 lakhs and the interest rate was 10.99%n which is satisfactory . The customer service and responses was very good,. The process was bit lengthy and they have take much time. They have provided door step service for collecting documents.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 20, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I got the personal loan amount within a week time. The customer support service and the response is very good from the ICICI bank. The rate of interest and the charges are average with the ICICI bank when compared with others. The loan amount was low with the ICICI bank .
      Was this review helpful? 0
      , mettur
      Reviewed on May 18, 2018
    • ICICI Bank Personal Loan
      "Average service"
      0.5 4.0/5 "Great!"
      The ICICI bank support was god in regards to my personal loan application and I have got the loan amount within 10days of time. The customer support service and the response is good from the ICICI bank. The rate of interest was quite high with the ICICI bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 18, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My personal loan experience was good with ICICI bank, the loan amount was for Rs 2.5 lakhs with nominal interest rate when compared to other banks. The process was quick and i received my loan amount on time. Customer service was good and the tenure for this loan is 4 years.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 18, 2018
    • ICICI Bank Personal Loan
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      I have approached ICICI bank for my personal loan . I gave all my details later they said that they are not providing loans for employees and rejected my application. The loan amount was 2.5 lakhs and the interest rate was 15.99% . I am not happy with the customer service and responses .
      Was this review helpful? 0
      , bhubaneshwar
      Reviewed on May 17, 2018
    • ICICI Bank Personal Loan
      "good Expereince "
      0.5 5.0/5 "Blown Away!"
      I took a personal loan for 2 lacs from the ICICI bank. The loan was disbursed with in a week, the interest rate was 13% which was not so high. The whole application process was simple and the EMI gets reflected in my credit card outstanding. Overall It was good experience.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 17, 2018
    • ICICI Bank Personal Loan
      "Excellent service"
      0.5 4.0/5 "Great!"
      The rate of interest and the charges are bit high with the ICICI bank personal loan services. The fore closure charges were high with the ICICI bank and they are collecting up to 5% . The customer support service and the response is good from the ICICI bank.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 16, 2018
    • ICICI Bank Personal Loan
      "No partpayment for personal loan"
      0.5 3.5/5 "Pretty good"
      I have taken a personal loan from ICICI bank and the disbursed loan amount was 7.52 lakhs. The rate of interest was 11.29%. The monthly emi is 8500 for tenure of 5years.There was a no processing fee. Pre closure facility is there but they don't have the option of part payment, for that i am not satisfied with ICICI bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 16, 2018
    • ICICI Bank Personal Loan
      "Quick Service"
      0.5 4.5/5 "Excellent!"
      I took a personal loan for 2 Lacs from ICICI. They offered the personal loan at an interest rate of 14%. The application process was really easy and hassle free. I never had any issues with their services. Overall it was a good experience taking loan from ICICI
      Was this review helpful? 0
      , new delhi
      Reviewed on May 16, 2018
    • ICICI Bank Personal Loan
      "Below Average service"
      0.5 1.0/5 "Really Bad"
      I have applied for the personal loan via a financial website, and the ICICI bank rejected my loan application saying that the repayment period is short so they have cancelled the application. The ICICI bank need to fulfill the customer query.
      Was this review helpful? 0
      , mysore
      Reviewed on May 16, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I recently got the home loan , so that was the reason I have closed the personal loan application with the ICICI bank. The service was good from the ICICI bank they gave me better response . The customer support service is pretty good from the ICICI bank.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 16, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I recently got the home loan , so that was the reason I have closed the personal loan application with the ICICI bank. The service was good from the ICICI bank they gave me better response . The customer support service is pretty good with the ICICI bank.
      Was this review helpful? 0
      , jaipur
      Reviewed on May 16, 2018
    • ICICI Bank Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      The ICICI bank was about to approve the personal loan and they have sent their executives to collect the documents , but I am not available to submit the documents on time , so that was the reason I haven't got the personal loan from ICICI bank. The customer support service and the response is average with the ICICI bank. The rate of interest and the charges are average here.
      Was this review helpful? 0
      , jaipur
      Reviewed on May 16, 2018
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