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 16249 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
      "Good Experience"
      0.5 4.0/5 "Great!"
      I had personal loan earlier with ICICI, interest rate was nominal as per other bank. Documentation process of ICICI was okay, I went to the branch I processed my loan application. It got approved on time and I got NOC letter also after the closure
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 24, 2017
    • ICICI Bank Personal Loan
      "Good"
      0.5 3.0/5 "Satisfactory"
      I have taken a personal loan with ICICI bank and i have a 11.75 % rate of interest for the loan and i feel it is nominal for the mount taken. But would still be high otherwise. I had no issues during the process and all documents were collected fr om me on time.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 24, 2017
    • ICICI Bank Personal Loan
      "Average service"
      0.5 2.5/5 "Just OK"
      My personal loan experience with ICICI bank was not good, the process was quite long and it took 21 days for the loan amount to get approved. They did not ask all the documents at a time, their services was delayed. The loan amount was for Rs 2.3 lakhs with the rate of interest of 10.99% which is nominal when compared to other banks. Customer service was average and they did not respond on time.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 24, 2017
    • ICICI Bank Personal Loan
      "Interest and Charges has to be reduced"
      0.5 3.0/5 "Satisfactory"
      ICICI interest rate is quite higher than other banks, I availed the loan of Rs. 2 lakhs, they took 2% of processing fee and also they charged more than 16% of interest for the tenure of 3 years. I felt service is good but interest rate and charges has to be reduced.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 23, 2017
    • ICICI Bank Personal Loan
      "Good customer service"
      0.5 4.0/5 "Great!"
      I have applied for the personal loan from ICICI bank, my loan application was closed because i have taken the personal loan from other bank. When it comes to customer service, it was good and they responded on time, regular follow ups were done. The rate of interest is way high when compared to other banks.
      Was this review helpful? 0
      , ludhiana
      Reviewed on Nov 23, 2017
    • ICICI Bank Personal Loan
      "Better"
      0.5 3.0/5 "Satisfactory"
      Customer service is okay one with the ICICI bank and the response is good one for the personal loan. The loan amount got disbursed within four days of time, also the services are better one with the ICICI bank and I have not faced any issues with them.
      Was this review helpful? 0
      , pune
      Reviewed on Nov 23, 2017
    • ICICI Bank Personal Loan
      "Average"
      0.5 1.0/5 "Really Bad"
      Customer service and other things are quite good one for me with the ICICI bank and the response is fine one. I would like to say that the rate of interest is fine one with the ICICI bank, also I have not faced any hiccups on it.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 23, 2017
    • ICICI Bank Personal Loan
      "Best"
      0.5 4.0/5 "Great!"
      Rate of interest for the personal loan with the ICICI bank was around 15%, also the customer service is fine one for me with in a week of time. Customer service is better one with the ICICI bank for the personal loan, which I have got.
      Was this review helpful? 0
      , jaipur
      Reviewed on Nov 23, 2017
    • ICICI Bank Personal Loan
      "Very happy with the bank "
      0.5 5.0/5 "Blown Away!"
      The representatives of ICICI bank were very much cooperative then even informed the time scales of the loan process pro actively. The pre -closure and partpayment options provided by ICICI bank was very good and those two were the key factors too. I am planning to foreclosure the loan after 1.5 years I guess there are no charges for the same. My request was prioritized and my loan was sanctioned on time.
      Was this review helpful? 0
      , siliguri
      Reviewed on Nov 22, 2017
    • ICICI Bank Personal Loan
      "Needs to improve"
      0.5 1.0/5 "Really Bad"
      I have applied for the personal loan from ICICI bank, my loan application was close because there was no proper follow up done after the application was submitted. Customer service part was not up to the mark, there was no response from them and they did not follow up further. The rate of interest is nominal when compared to other banks.
      Was this review helpful? 0
      , bareilly
      Reviewed on Nov 22, 2017
    • ICICI Bank Personal Loan
      "Unhappy with the services. "
      0.5 2.0/5 "Expected more"
      ICICI Bank has contacted me initially for the personal loan. They did not collect the documents and after which the bank has rejected the loan without giving me any reason for it. Not sure on the interest rate and processing charges. I am not happy with the is experience.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 22, 2017
    • ICICI Bank Personal Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      ICICI Bank is overall good in the response. I had applied for a personal loan and they contacted me on time and informed me the necessary details. I could not proceed ahead because I did not have the pay slip as requested. The interest rate and charges are very much normal.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 22, 2017
    • ICICI Bank Personal Loan
      "Good. Can do better"
      0.5 3.0/5 "Satisfactory"
      ICICI Bank is overall good but can be better in the customer services. They can be more quick in the process. The rate of interest is normal and the processing charges is also normal. It was for a personal loan and the after loan services are good overall.
      Was this review helpful? 0
      , kolkata
      Reviewed on Nov 21, 2017
    • ICICI Bank Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have applied for the personal loan from ICICI bank, my loan application was closed because the rate of interest was way high when compared to other banks. They initially said that ROI will be 11% and later on they changed to 15%, there was no proper guidance. Customer service was not up to the mark and they did not respond in time.
      Was this review helpful? 0
      , jhajjar
      Reviewed on Nov 21, 2017
    • ICICI Bank Personal Loan
      "Needs to improve with ROI"
      0.5 3.0/5 "Satisfactory"
      I have applied for the personal loan from ICICI bank, my loan application was closed because after submitting the documents, they were supposed to send an OTP and also there was a network issue so the application was closed. Customer service was good and they responded on time. The rate of interest was high when compared to other banks.
      Was this review helpful? 0
      , guwahati
      Reviewed on Nov 20, 2017
    • ICICI Bank Personal Loan
      "Good response"
      0.5 4.0/5 "Great!"
      I got good response from ICICI bank end, but at that time i had no requirement so i close the loan application with ICICI. In future if i am planning to take a loan the i could definitely consider ICICI. They response from their end was really good.
      Was this review helpful? 0
      , meerut
      Reviewed on Nov 20, 2017
    • ICICI Bank Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I have taken a personal loan with ICICI bank the loan amount is 5 lakhs.the rate if interest is 12.75% nominal like other banks.They had deducted 2% as processing fees from the principal amount,foreclosure is 5% including GST.No part payment option is avialible with this bank.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Nov 20, 2017
    • ICICI Bank Personal Loan
      "Looking for better service"
      0.5 3.0/5 "Satisfactory"
      ICICI have rejected my personal loan request without giving any proper information. They told as per their internal norms they have closed the request. Even ICICI bank interest rate is quite higher than other bank. I am not fine with them, hence I wont suggest this service.
      Was this review helpful? 0
      , nuzvid
      Reviewed on Nov 20, 2017
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have applied for the personal loan from ICICI bank, my loan application was closed because the company was not listed in their norms. The customer service from ICICI bank was good and they responded on time. The rate of interest was nominal when compared to other banks.
      Was this review helpful? 0
      , mohali
      Reviewed on Nov 20, 2017
    • ICICI Bank Personal Loan
      "Poor service"
      0.5 1.0/5 "Really Bad"
      I have applied for a personal loan with ICICI bank. They collected the documents by next day but they rejected my personal loan application stating that my address is not in their serviceable area list but for namesake they called me and collected the documents.
      Was this review helpful? 0
      , jammu
      Reviewed on Nov 20, 2017
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