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    ICICI Personal Loan Interest Rates

    We found 1 ICICI Personal Loan Interest Rates

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    11.00% - 17.99% Fixed
    2.25% (min. ₹1149) One time fee
    20L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Paperless approval option available
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    ICICI Personal Loan Interest Rates is Rated as "Great!" by 13980 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 Service Tax Up to 2.25% per annum of loan amount + Applicable Service Tax
    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 Service Tax 5% per annum of principal outstanding loan amount + applicable Service Tax
    Foreclosure Charges NA NA

    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
      "Prompt service"
      0.5 5.0/5 "Blown Away!"
      ICICI bank offered high interest rate for the personal loan which is 12.75%. Th services are very prompt and they are really good in processing the loan application. I did not have any issues with them in the entire process. All things went good with them.
      Was this review helpful? 0
      , pune
      Reviewed on May 27, 2017
    • ICICI Bank Personal Loan
      "Unhappy with the banking services"
      0.5 1.0/5 "Really Bad"
      I had applied for a personal loan with ICICI bank and it was not up to the mark. The customer support needs to be more professional and though I received a response, I am not happy with the overall services. I did not go to the extent to talk about the interest rate and charges.
      Was this review helpful? 0
      , raipur
      Reviewed on May 27, 2017
    • ICICI Bank Personal Loan
      "Good in response"
      0.5 5.0/5 "Blown Away!"
      I did not go ahead with ICICI bank for the personal loan as I arranged the funds through another source. The services was prompt and they informed me all the details and also checked on my requirement. The interest rate and processing charges was average.
      Was this review helpful? 0
      , delhi
      Reviewed on May 27, 2017
    • ICICI Bank Personal Loan
      "Better Service"
      0.5 3.0/5 "Satisfactory"
      The responses and customer service are good with ICICI bank. Recently I approached the bank for the personal loan. I am not ok with the processing fee and the loan process. They are taking some more time. Hence I closed the loan application with them.
      Was this review helpful? 0
      , kolkata
      Reviewed on May 27, 2017
    • ICICI Bank Personal Loan
      "Excellent job done"
      0.5 5.0/5 "Blown Away!"
      I would appreciate Mr. Hari from ICICI Bank as he was excellent in the process. He done a great job for me and helped me get the disbursement on time. The overall experience was good for the personal loan, as I also got a reasonable rate of interest and the processing charges was normal too.
      Was this review helpful? 0
      , coimbatore
      Reviewed on May 27, 2017
    • ICICI Bank Personal Loan
      "Good in response"
      0.5 5.0/5 "Blown Away!"
      Since my requirement was met through another source, I did not go ahead for the personal loan at ICICI Bank. But the services and the response was excellent. They were on time and they also had a good deal on the interest rate and processing charges.
      Was this review helpful? 0
      , panchkula
      Reviewed on May 27, 2017
    • ICICI Bank Personal Loan
      "Not happy with the services"
      0.5 1.0/5 "Really Bad"
      ICICI Bank has not been up to the mark for the personal loan. They contacted me initially and informed me the details for the loan. After which they were supposed to follow up but there were no calls. So I went ahead with another bank. The interest rate was on the higher side.
      Was this review helpful? 0
      , chennai
      Reviewed on May 27, 2017
    • ICICI Bank Personal Loan
      "Good in Response"
      0.5 5.0/5 "Blown Away!"
      I had submitted my personal loan application with ICICI bank through online source. But then I did not take the loan as I cleared my requirement by my own. I received good response from the bank for my loan application and their customer service is good.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 27, 2017
    • ICICI Bank Personal Loan
      "Loan process has to be changed"
      0.5 4.0/5 "Great!"
      I had already salary account within ICICI for 15 years, on the loan process they came and collected all the documents but still they kept asking many documents. Being an existing customer there is no necessary to collect my documents but even after collecting also they gave inconvenient service. Hence I didn't proceed further with them.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 27, 2017
    • ICICI Bank Personal Loan
      "Clear process"
      0.5 5.0/5 "Blown Away!"
      My earlier experience with ICICI Bank was excellent for the personal loan. The process was clear and the team was consistent in the details they provided. I got the loan on time and as required. The overall experience was good even after the loan got disbursed.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 27, 2017
    • ICICI Bank Personal Loan
      "Not consistent in rates"
      0.5 3.0/5 "Satisfactory"
      There were a lot of confusion with ICICI Bank for a personal loan. I was initially told that the interest rate was around 12% instead of 11.59%. I was taking a balance transfer loan and the rate for that was actually 11%. So I cancelled my application and when ahead with another bank.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 27, 2017
    • ICICI Bank Personal Loan
      "Not Satisfactory"
      0.5 2.0/5 "Expected more"
      ICICI bank were ready to provide the personal loan for 3.5 lakhs but I was in a need of nearly 5 lakhs. When I approached other banks they agreed to give the loan up to 6 lakhs but ICICI not ready to provide as per my requirement. Hence I cancelled the loan application. Their way of approach is also not good, I had not received good response from the bank.
      Was this review helpful? 0
      , chennai
      Reviewed on May 27, 2017
    • ICICI Bank Personal Loan
      "Loan proess has to be improved"
      0.5 1.0/5 "Really Bad"
      Initially ICICI committed interest rate would be 11.59% but when I was processing my application they gave the interest rate around 17 to 19% it is high. Their customer care didn't give clear information about the loan process, they are not transparent. Hence I requested them to close the application.
      Was this review helpful? 0
      , coimbatore
      Reviewed on May 27, 2017
    • ICICI Bank Personal Loan
      "Average experience"
      0.5 2.0/5 "Expected more"
      I did not go ahead with ICICI bank because the bank was not meeting my requirement. I had applied for six lakhs and the bank was offering me three lakhs, because I was trying other banks simultaneously which is quite normal with all customers when they apply for a personal loan.
      Was this review helpful? 0
      , chennai
      Reviewed on May 27, 2017
    • ICICI Bank Personal Loan
      "Response part has to be improved"
      0.5 2.0/5 "Expected more"
      I have applied for personal loan in ICICI for the amount of Rs. 2 lakhs, I have received only one call from them, then that executive said they will get back but there was no from them. Finally I checked my application status it was closed, without informing ICICI closed my loan application.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 26, 2017
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The ICICI bank interest rate are really high when compared with other banks, that was the reason I haven't got the personal loan with ICICI bank. The response and the customer service was good with ICICI. I would like to suggest to decrease the interest rate in future. Overall, I am satisfied with the ICICI service.
      Was this review helpful? 0
      , patna
      Reviewed on May 26, 2017
    • ICICI Bank Personal Loan
      "Its Awesome"
      0.5 5.0/5 "Blown Away!"
      Previously there was a need, hence I applied for the personal loan then I don't have requirement to take loan. Therefore I denied to avail loan from ICICI. Their service is good they confirmed me all the loan process and they kept updated about the interest rate and other charges too.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 26, 2017
    • ICICI Bank Personal Loan
      "Need to improvement with customer support "
      0.5 1.0/5 "Really Bad"
      I have sent mails and try calling and reaching ICICI customer service to know about my personal loan application status. N one gave any response from their end. There was no response from ICICI end, hence I did not proceed with them. Overall I would like to say ICICI need to concentrate with the customer support.
      Was this review helpful? 0
      , dwarka
      Reviewed on May 26, 2017
    • ICICI Bank Personal Loan
      "Loan process should be faster for an existing customer"
      0.5 4.0/5 "Great!"
      I am very fine with ICICI service because I am an existing customer of it. Their interest rate is also good but service was getting delay. I was an emergency situation, hence I approached other bank for the personal loan process and I got the disbursement.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 26, 2017
    • ICICI Bank Personal Loan
      "DISSATISFIED"
      0.5 1.0/5 "Really Bad"
      ICICI bank did not contacted me properly during my personal loan process with them. And I actually needed an immediate loan of 1 lakh and since the bank did not respond me at the right time I just dropped my loan process I wasn't having my payslips so they said they cannot process my loan and the documentation part bank executive did not explained me anything about it in fact I have asked them in all in detail
      Was this review helpful? 0
      , udaipur
      Reviewed on May 26, 2017
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