Multiple banks. Different interest rates. Call it a "conflict of interest".
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.2,000 Amazon Voucher free Paperless approval available
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    Perks
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    Customer Reviews
    ICICI Personal Loan Interest Rates is Rated as "Great!" by 16471 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 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
    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:

    Year Principal 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"
      0.5 4.0/5 "Great!"
      I took a personal loan with ICICI Bank through online channel. The rate of interest was quite high comparatively to other banks. The processing fee is good with ICICI. They have offered 85K and monthly installment is 7700 rupees. The tenure was for a period of one year.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 17, 2018
    • ICICI Bank Personal Loan
      "Very good"
      0.5 4.5/5 "Excellent!"
      My personal loan was taken with ICICI bank. The loan amount was 2 lakhs and the Interest rate was 11% which was average In the market. The customer service and responses was up to the mark. The loan was approved on time and they have provided door step service for collecting documents.
      Was this review helpful? 0
      , yamuna nagar
      Reviewed on Jan 17, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 2.0/5 "Expected more"
      The ICICI bank took around a month time to disburse my personal loan amount, where I got disappointed. The process need to be quick and fast from the ICICI bank personal loan service. I have got the required loan amount and I am satisfied with .
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 17, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My personal loan experience with ICICI bank was very good, the process was smooth and i received my loan amount within 10 days. The loan amount is for Rs 3.06 lakhs with the rate of interest of 14.75% which is nominal rate. Customer service was good and they provided door step service to collect the documents. They charged Rs 7000 as processing fees and tenure of this loan is 5 years.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 17, 2018
    • ICICI Bank Personal Loan
      "Good"
      0.5 3.0/5 "Satisfactory"
      I have my personal loan with ICICI bank. The loan amount was 1.20 lakhs and the Interest rate was 13.49% which was bit higher than other banks in the market. The tenure period was 5 years and the processing fee was 3%. Here the pre closure is after 6 months. My overall experience was very good.
      Was this review helpful? 0
      , jodhpur
      Reviewed on Jan 17, 2018
    • ICICI Bank Personal Loan
      "Good"
      0.5 4.5/5 "Excellent!"
      I have my personal loan with ICICI bank. The loan amount was 94,979 and the rate of Interest was 11.4% which is average. The EMI period was 4 years. The loan process was good and the processing fee was 2000 which is nominal. Here the pre closer is after 6 months. My experience was good and its recommendable.
      Was this review helpful? 0
      , bhopal
      Reviewed on Jan 17, 2018
    • ICICI Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      It is a very fast process with Icici personal loan department. The rate of interest is fine and the customer support is prompt. Icici personal team staffs have collected my documents from my door step which was a easy process,it was a excellent experience with Icici personal loan department.
      Was this review helpful? 0
      , noida
      Reviewed on Jan 17, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My personal loan application was approved by ICICI bank and the experience was very nice. The loan amount is for Rs 2 lakhs with the rate of interest of 17% which is high when compared to all other banks. The process was smooth and i received my loan amount within 1 week. Customer service was good and their response was also good. They did not clarify about he processing fees and tenure of this loan is 3 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 17, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I got the loan amount within 5days of time from ICICI bank. The response part is quick and fast from the ICICI bank and they gave me the required loan amount and I am satisfied with it. The rate of interest and the charges are average as pet the market rate.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jan 17, 2018
    • ICICI Bank Personal Loan
      "Need Improvement"
      0.5 1.0/5 "Really Bad"
      The ICICI bank haven't gave me proper response in regards to my personal loan application. The customer support team haven't gave me any response in regards to my personal loan application. The response part need to be improved with the ICICI bank.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jan 16, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 3.5/5 "Pretty good"
      ICICI bank took 15days of time to disburse my personal loan amount. The customer support need to be quick and fast because they have promised that they can disburse the loan amount within 48hours of time but they took around 15days of time. The required loan amount has been disbursed and I am satisfied with it.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 16, 2018
    • ICICI Bank Personal Loan
      "Needs to improve"
      0.5 2.0/5 "Expected more"
      My personal loan experience with ICICI bank was not that good, the process was smooth and i received my loan amount within 1 week. The loan amount was for Rs 2 lakhs with the rate of interest of 14.75% which is high when compared to all other banks. The processing fees was 4% which is high and the tenure of the loan is 5 years. Customer service was not up to the mark and they did not keep up their commitments.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jan 16, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My personal loan experience was very good with ICICI bank, the loan amount disbursed was Rs 2.38 lakhs with the rate of interest of 15.99% which is nominal when compared to all other banks. The process was smooth and i received my loan amount within 1 week. Customer service was good and they responded on time. I did not opt for insurance but they debited the insurance amount. The processing fees was nominal and the tenure of this loan is 5 years.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 16, 2018
    • ICICI Bank Personal Loan
      "Good banking"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan with ICICI bank,The loan amount is 1.5 lakhs,rte of interest is nominal as co pored to others.The tenure is for 4 years .The EMI amount is 3800.I uploaded documents through online.I am happy banking with them.
      Was this review helpful? 0
      , salem
      Reviewed on Jan 16, 2018
    • ICICI Bank Personal Loan
      "Good banking service"
      0.5 4.5/5 "Excellent!"
      The ICICI bank has disbursed my personal loan within a week time . The customer support was good with the ICICI bank. The required loan amount has been disbursed and I am satisfied with it. The rate of interest and the charges are average with the ICICI bank.
      Was this review helpful? 0
      , kurnool
      Reviewed on Jan 16, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      My personal loan application was approved by ICICI bank and the experience was very nice. The process was very smooth and i received my loan amount within 1 week. The loan amount was for Rs 5 lakhs with the rate of interest of 14.49% which is nominal rate when compared to other banks. Customer service was good and they collected all the required documents on time. The processing fees was nominal and they even charged for insurance. The tenure of this loan is 5 years and it was overall a good service from ICICI bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 16, 2018
    • ICICI Bank Personal Loan
      "Better service"
      0.5 5.0/5 "Blown Away!"
      My personal loan application was approved with ICICI bank and the experience was good. The process was very fast and i received my loan amount within 1 week. Customer service was good and they responded on time. Documents were verified door step. The loan amount is for Rs 3.5 lakhs with the rate of interest of 10.99% which is nominal rate. They charged 1% processing fee which is nominal. The tenure of this loan is 3 years and it was overall a good service from ICICI bank.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 15, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      It was a very nice personal loan experience with ICICI bank, the process was very smooth and i received my loan amount within 1 week. The loan amount is for Rs 2 lakhs with the rate of interest of 12.99% which is nominal rate. Customer service was good and they provided door step service to collect the documents. The processing fees was nominal and they also charged for insurance which will be refunded if i preclose the loan before the tenure period and tenure of this loan is 4 years.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 15, 2018
    • ICICI Bank Personal Loan
      "Average service"
      0.5 4.0/5 "Great!"
      I have my personal loan application approved with ICICI bank and the experience was quite good. The process was bit delayed and it took 1 week for the loan amount to get disbursed. The loan amount was for Rs 50000 with the rate of interest of 16% which is very high when compared to all other banks. Customer service was good and they provided door step service to collect the documents. The processing fees was very high and the tenure of this loan is 4 years.
      Was this review helpful? 0
      , vadodara
      Reviewed on Jan 15, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.5/5 "Excellent!"
      My Personal loan experience with ICICI bank was very good, the process was very fast and i received my loan amount within 4 days. The loan amount was approved based on my requirement and the rate of interest was 12.99% which is nominal when compared to other banks. The tenure of this loan is 2 years and the processing fees they charged is 1%. They charge 5% of principal amount if the loan is preclosed after 6 months. Customer service was good and they followed up on time.
      Was this review helpful? 0
      , surat
      Reviewed on Jan 15, 2018
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