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
    11.00% - 17.99% Fixed
    2.25% (min. ₹1149) 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
    Eligibility Criteria
    Customer Reviews

    ICICI Personal Loan Interest Rates is Rated as "Great!" by 14322 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
    ICICI Bank Personal Loan Offers

    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
      "Response part has to be improved"
      0.5 2.0/5 "Expected more"
      Due to improper coordination from ICICI, the loan application got closed. From Bank end there was no response on right time. They reached me after three days of my request and collected the documents finally it got closed without any intimation.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Below average service"
      0.5 1.0/5 "Really Bad"
      I haven't got any kind of response from the ICICI bank . It was me who took initiative and made a follow up with the ICICI bank executives to get the personal loan but still no one gave proper responsefrom ICICI bank, that was the reason I haven't proceed my personal loan application with ICICI bank. The rate of interest is bit high , when compared with others. I would say it was a below average service.
      Was this review helpful? 0
      , lucknow
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "High on ROI & charges"
      0.5 3.0/5 "Satisfactory"
      I did not go ahead with ICICI Bank because I was offered a high rate of interest. I got a rate of around 15% where as I was getting lesser rates from other banks for the personal loan. The services and response was on time and there were couple of follow up calls too.
      Was this review helpful? 1
      , ernakulam
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Loan process should be fleixible"
      0.5 2.0/5 "Expected more"
      ICICI was looking for last six bank transactions, I have an account with SBI but I have a transaction around five years. Hence ICICI have rejected my personal loan application. I have submitted all of my documents, they have check my credit score as well finally they rejected it.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Better Service"
      0.5 4.0/5 "Great!"
      The ICICI bank gave a call and asked me from which company I am receiving the salary and I told my company name but I am receiving the salary from 2 different company names , so very next day I got a text from ICICI bank saying that My personal loan application got cancelled. The customer service and the response was good with ICICI bank. The rate of interest is nominal with ICICI bank. I would say it was an average service from ICICI bank.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Interest rate should be flexible"
      0.5 1.0/5 "Really Bad"
      Initially when I applied for the personal loan through online channel, they committed I would be getting the interest rate around 14% for the principal amount of Rs. 1.5 lakhs but ICICI bank offered me 17% of interest. First time my loan application got closed but again I approached ICICI and took the loan due to emergency purpose.
      Was this review helpful? 0
      , bhilwara
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Average Service"
      0.5 2.0/5 "Expected more"
      The major issue with ICICI was, there were in need of a permanent address proof, however I keep traveling from one place to another as that was my job nature, also they were in need of permanent office address proof as I dont hold one ICICI Bank refused to approve the loan a latter stage. Their customer service executive needs to know what needs to be done in order for the customer to get the loan. Also their interest rate is high when compared with others.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Provide the reason for declining"
      0.5 2.0/5 "Expected more"
      ICICI bank contacted me for the personal loan and the executive came over and collected the documents. The process was on and later the loan was rejected. They have not given me the reason of rejection, which was not satisfactory. The interest rate and charges were very much normal.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Average service"
      0.5 2.5/5 "Just OK"
      ICICI Bank was very keen when it comes to documents collection, they were in need of more number of documents. I had submitted all the relevant documents with ICICI. Rate of interest was in line with the market rate. Also I had got an average service from ICICI.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Average"
      0.5 3.5/5 "Pretty good"
      ICICI Bank contacted me and provided all the details for the personal loan. The documentation was also taken. The bank did not process the loan because I do not have a existing credit history as this is my first time applying for a loan and I not hold a credit card as well.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Documenation process should be easier"
      0.5 2.0/5 "Expected more"
      ICICI documentation process was very inconvenient. When I applied for the personal loan, I got a call and requested me for the Form 16 and attested bank statements, I am not fine with that. So I thought not process with ICICI bank for the personal loan.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Average Service"
      0.5 4.0/5 "Great!"
      ICICI told that my salary has not met their eligibility criteria to process my personal loan application. The customer service and the response was not up to the mark with with ICICI bank. The rate of interest was high when compared with others. The customer service with ICICI bank need improvement in future.
      Was this review helpful? 0
      , muzaffarpur
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Above average service"
      0.5 4.0/5 "Great!"
      I was not available at my place when ICICI executive came for the verification, so that was the reason ICICI bank has cancelled my personal loan application. The rate of interest is higher than other bank, Intially they have promised for differnet interest rate and after that they have increased the interest rate. The customer service with ICICI bank was good. It was an avergae service with ICICI bank.
      Was this review helpful? 0
      , gondia
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Communication part should be improved"
      0.5 1.0/5 "Really Bad"
      I am not aware why ICICI Bank rejected my personal loan application. Because, I have submitted all the documents to them, finally it got rejected without informing me also the reason was not disclosed to me. I didn't get any sort of communication from them, whatever it may be they should communicate to the customer, they should not reject the application without intimating it to the customer.
      Was this review helpful? 0
      , thiruvallur
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Good service can do better"
      0.5 3.0/5 "Satisfactory"
      I have got the loan amount through some other source that was reason, why I haven't got personal loan with ICICI bank. The rate of interest is nominal with ICICI bank. The customer service and the response was good with ICICI. I would say it was an average service with ICICI bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      The interest rate offered by ICICI Bank is relatively too high, that was the reason I didn't proceed ahead with the ICICI bank loan. The ICICI executive gave a call and explained me about the products. I would like to suggest that ICICI bank can reduce interest rate in future. Further, I have got a good service from ICICI bank.
      Was this review helpful? 0
      , amritsar
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Very Good service"
      0.5 4.0/5 "Great!"
      ICICI bank hardly took around 4 days of time to disburse my personal loan . The documentation process was done in a processed way. The rate of interest is very much nominal, when compared with others. The required loan amount was disbursed by ICICI bank and I am happy about the loan amount. To summarize, I would say I am very much satisfied with the ICICI Banking service.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      After me applying for a personal loan with ICICI bank, I received one call from them and the lady collected my information and hung up. After which I got no calls from them. Not very sure on the rate of interest and processing charges. I could not proceed for the loan.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Its GOOD"
      0.5 3.0/5 "Satisfactory"
      I have cancelled ICICI personal loan because I was holding my salary account with Standard Chartered bank. Hence I thought to process the loan with existing bank to make process easier. Therefore I didn't avail the personal loan from ICICI but it is good.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 22, 2017
    • ICICI Bank Personal Loan
      "Response part has to be improved."
      0.5 3.0/5 "Satisfactory"
      I am unhappy with ICICI banking service, without my intimation ICICI closed my personal loan application. I tried reaching the bank, but unable to contact them. I have submitted all of my documents to ICICI but no response. They should improve on the response part and they should provide a better service too.
      Was this review helpful? 1
      , chennai
      Reviewed on Jun 22, 2017
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