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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    Good to Know
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    Customer Reviews

    ICICI Personal Loan Interest Rates is Rated as "Great!" by 14510 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
      "Average service"
      0.5 2.0/5 "Expected more"
      The ICICI bank executives told that the private or public company employees are not eligible to get the loan, They are not interested to give the loan for the people those who own a company. The customer service and the response was average with ICICI bank. The rate if interest charged by them is higher than the normal one.
      Was this review helpful? 0
      , konnagar
      Reviewed on Jul 19, 2017
    • ICICI Bank Personal Loan
      "Average service"
      0.5 1.0/5 "Really Bad"
      I haven't received any kind of calls from ICICI bank in concern to my personal loan application and I am not sure why they have closed my application. The customer service and there response part need to improved with ICICI bank. The rate of interest is nominal with ICICI.
      Was this review helpful? 0
      , bhimavaram
      Reviewed on Jul 19, 2017
    • ICICI Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      ICICI executive gave a call and explained me about the product very clearly and helped me to know about the product briefly . The customer service and the response is very good with ICICI bank. The rate of interest is nominal with ICICI bank. I am happy about the ICICI bank service.
      Was this review helpful? 0
      , ankleshwar
      Reviewed on Jul 19, 2017
    • ICICI Bank Personal Loan
      "Need improvement"
      0.5 3.0/5 "Satisfactory"
      I have applied credit card personal loan twice with ICICI bank, but there was no response in concern to my applications. The customer service and the response is average with ICICI bank. The rate of interest is high when compared with others.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 19, 2017
    • ICICI Bank Personal Loan
      "Not Responsive"
      0.5 2.0/5 "Expected more"
      I approached ICICI bank for the personal loan. I never received proper response from the bank end for my personal loan application. Even they rejected my application stated that the salary is not sufficient to get the loan from them. Finally I dropped my plan.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Jul 19, 2017
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I got the personal loan from ICICI bank through the help of pay sense application . The customer service and the response is good with ICICI bank. The rate of interest is nominal with ICICI bank. I am happy and satisfied with the loan amount.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 18, 2017
    • ICICI Bank Personal Loan
      "Average service"
      0.5 1.0/5 "Really Bad"
      Former part they quoted a different interest rate but at a latter stage they offered me a different interest rate. Therefore ICICI bank needs to stick on their promises. The ICICI bank executives need to be transparent in their service. The ICICI bank customer support and the response was good. They took around 1 month to disburse my personal loan besides that I am very much happy with the loan amount too.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 18, 2017
    • ICICI Bank Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I didn't get the loan from ICICI bank due to some personal issues, so that was the reason I haven't got the loan from ICICI bank. The customer service and the response was average with ICICI bank. The rate of interest is high when compared with others.
      Was this review helpful? 0
      , kharagpur
      Reviewed on Jul 18, 2017
    • ICICI Bank Personal Loan
      "Need to be customer centric"
      0.5 4.0/5 "Great!"
      I have discussed with ICICI executive about the interest rate of my personal loan application but they told it is not possible to reduce the interest rate so that was the reason I haven't availed the loan from ICICI bank. ICICI bank needs to lower the bank interest rate.
      Was this review helpful? 0
      , ariyalur
      Reviewed on Jul 18, 2017
    • ICICI Bank Personal Loan
      "No Response"
      0.5 3.0/5 "Satisfactory"
      Initially I applied for the personal loan with ICICI bank but later I did not take the loan from them because I had postponed the plan for two months. Also I did not receive good response from the bank end for my loan application. To conclude the service rendered by them is very much average.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 17, 2017
    • ICICI Bank Personal Loan
      "Better service"
      0.5 2.0/5 "Expected more"
      I have approached ICICI bank for the personal loan, but they haven't gave any call back in concern to my personal loan application. The customer service and the response needs to be improved with ICICI bank.The rate of interest is nominal with ICICI . The service rendered by ICICI bank is really good.
      Was this review helpful? 0
      , madurai
      Reviewed on Jul 17, 2017
    • ICICI Bank Personal Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      Initially ICICI executive gave a call and explained me about the product but after that no one gave a call back or any response in concern to my personal loan application. The customer service need to be improved with ICICI. The rate of interest is high, when compared with others . The ICICI bank need to be focused a lot in customers as well they need to reduce their interest rate.
      Was this review helpful? 0
      , khammam
      Reviewed on Jul 15, 2017
    • ICICI Bank Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      The ICICI bank executive gave a call and explained me about the product. They told my personal loan application got closed due to some reason, however they did not disclose the reason. The customer service and the response is really good with ICICI bank. The rate of interest is nominal with ICICI . I am very much satisfied using ICICI banking service.
      Was this review helpful? 0
      , allahabad
      Reviewed on Jul 15, 2017
    • ICICI Bank Personal Loan
      "Need Improvement"
      0.5 1.0/5 "Really Bad"
      The ICICI bank representative came to my place to collect the documents and I have told them that I may require the loan in the month august so that was the reason I haven't proceed with the ICICI personal loan. I would say the ICICI bank need to be improved with their quick response. The rate of interest is high with ICICI bank. The ICICI bank management and the banking sector need to be focused a lot.
      Was this review helpful? 0
      , nagpur
      Reviewed on Jul 15, 2017
    • ICICI Bank Personal Loan
      "Response part has to be improved"
      0.5 3.0/5 "Satisfactory"
      If ICICI bank had been more responsible, I would have process for the personal loan. But they didn't coordinate well, the bank executive never revert back for loan process. Even though their interest rate was high, I thought to process with them.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jul 13, 2017
    • ICICI Bank Personal Loan
      "Better"
      0.5 5.0/5 "Blown Away!"
      Actually I approached ICICI bank through third party online source. Because I had received a mail from third party stating that the interest rate would be 10.99% for the personal loan so I applied for the loan, after which they said it is 13.99% and they forwarded my loan application to ICICI bank. I asked the bank to reduce the interest rate from 13.99 to 10.99% but the bank did not reduce it so I informed them to close my loan application.
      Was this review helpful? 0
      , ankleshwar
      Reviewed on Jul 13, 2017
    • ICICI Bank Personal Loan
      "Better Service"
      0.5 3.0/5 "Satisfactory"
      For the personal loan, I approached ICICI bank but due to some reason I had to cancel the application. Otherwise I had no issues with the bank. But I never received an immediate response from the bank, they contacted me after two days when my application has been forwarded to the bank. It would be really good if they provide instant response.
      Was this review helpful? 0
      , mahbubnagar
      Reviewed on Jul 13, 2017
    • ICICI Bank Personal Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      ICICI Bank has contacted me on time for the personal loan. I did not go ahead with them because bank executive said that they don't provide loans to that place where Iam staying and the loan amount I had idea of taking for about five lakhs rupees, rest all okay with this bank.
      Was this review helpful? 0
      , lucknow
      Reviewed on Jul 13, 2017
    • ICICI Bank Personal Loan
      "Need Improvement"
      0.5 1.0/5 "Really Bad"
      ICICI executives gave me a call and explained me about the product in detail. I had given all my details to them and was confirmed that they will give a call back however no turned up. They did not even inform me that my loan application got closed. Both customer service and response needs to be improved with ICICI bank. Even the rate of interest is very much nominal with ICICI.
      Was this review helpful? 0
      , dindigul
      Reviewed on Jul 13, 2017
    • ICICI Bank Personal Loan
      "Average Response"
      0.5 4.5/5 "Excellent!"
      ICICI bank quoted 17.99 % to 18.99% for the personal loan when I applied. I had a call once from ICICI bank and they informed me about the interest rate after that no body from the bank reached out for document collection. There was no response from ICICI bank, meantime HDFC offered the loan with good interest rate so I just switched over.
      Was this review helpful? 0
      , jamshedpur
      Reviewed on Jul 13, 2017
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