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    We found 1 ICICI Personal Loan Interest Rates
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    Interest Rate Range
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    Tenure Range
    11.00% - 18.25% Fixed
    From .75% (min. ₹999 + applicable tax) One time fee
    20L Max
    1-5 Years
    Response Time : Within 30 minutes
    Rs.750 Amazon Voucher 100% PAPERLESS APPROVAL
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    ICICI Personal Loan Interest Rates is Rated as "Great!" by 17079 Users

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    ICICI Personal Loan Interest Rates

    ICICI Bank is a leading bank in India that extends various banking products and services to individuals across the bank. The bank offers outstanding personal loan options that will help you meet any of your numerous financial requirements. The interest rate charged by ICICI Bank for its personal loan is affordable and reasonably priced. The interest rates for ICICI personal loans start from 10.99% to 22.00% p.a.

    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

    Learn how to compute EMIs for your ICICI Bank Personal Loan

    When you take a personal loan from ICICI Bank, it is very important to have clear knowledge about the total interest that you will be paying. You can acquire this knowledge by first computing your installment amounts for each month.

    The formula that is used for computing EMIs is E = P*r*[(1+r)^n/((1+r)^n-1)].

    Here, E refers to the monthly EMI, n refers to the number of years, and r refers to the rate of interest for each month.

    EMIs for your ICICI personal loan can be calculated with the help of an online EMI calculator offered by the official website of ICICI or various third-party financial websites. The BankBazaar website has an easy-to-use EMI calculator which can be accessed by any loan applicant.

    You will only have to key in your ICICI Bank personal loan details in this calculator. First, you will need to go to the ‘Finance Tools’ section in the main menu of the website. Here, you will have to select ‘EMI Calculator’ and then begin your calculation!

    • First, choose your loan amount by moving the slider with your mouse. Next, select your personal loan tenure in months and years. Then, enter the interest rate in percentage. You will then have to key in the processing fee, which is a particular percentage of your personal loan. You will then need to specify if you want to make a pre-payment or not by clicking ‘Yes’ or ‘No’. You can then click ‘Calculate’. You will now arrive at the monthly EMI.
    • With this calculator, you can drag the mouse to enter different loan amounts and loan tenures to understand how your loan expenses will look.
    • You can also check out the amortisation details for each year and month of your personal loan tenure. This EMI calculator is available on mobile phones with Android or iOS, and tablets as well.
    Apply for Personal Loan

    Example

    We will view an illustration to understand how the BankBazaar EMI calculator works. In the following table, we will assume that the processing fee is 2% and that the interest rate is 9.90% p.a. We have used different loan amounts and various loan tenures to see how the EMI varies for each amount. We have also assumed that the borrower is not interested in making any pre-payment.

    Loan amount (Rs.) Processing Fee Interest rate (p.a.) EMI for 2 years (Rs.) EMI for 3 years (Rs.) EMI for 4 years (Rs.) EMI for 5 years (Rs.) EMI for 6 years (Rs.) EMI for 7 years (Rs.)
    10 Lakh 2% 9.90% 46,099 32,220 25,315 21,198 18,475 16,550
    15 Lakh 2% 9.90% 69,148 48,330 37,972 31,797 27,713 24,824
    20 Lakh 2% 9.90% 92,198 64,441 50,629 42,396 36,951 33,099
    25 Lakh 2% 9.90% 1,15,247 80,551 63,286 52,995 46,189 41,374
    30 Lakh 2% 9.90% 1,38,296 96,661 75,944 63,594 55,426 49,649
    35 Lakh 2% 9.90% 1,61,346 1,12,771 88,601 74,193 64,664 57,923
    40 Lakh 2% 9.90% 1,84,395 1,28,881 1,01,258 84,791 73,902 66,198

    How to Calculate Interest on Your ICICI Bank Personal Loan

    Now that you know how EMIs can be calculated with an online calculator, we will show you how to compute your overall interest for your ICICI Bank Personal Loan. The components of your loan EMI are interest and principal. Typically, a borrower pays high interest during the initial part of the full loan tenure. During the end of the loan tenure, the borrower will be paying a higher principal amount.

    Example depicting the breakup of interest and principal in your monthly installments

    When you utilise the BankBazaar ICICI Bank personal loan EMI calculator, you will arrive at the monthly installment amount. Further, when you check the amortisation details, you will get an idea about the interest amount and the principal amount that you will be paying for your loan.

    In the following table, you can see the breakup clearly.

    We will assume that you take a personal loan worth Rs.5 lakh from ICICI Bank. The loan period starts from September 2017 for a period of 4 years. We will assume that you will not be making any pre-payment with this loan. The interest rate for your loan is assumed to be 9.75% p.a. Your EMI will then be Rs.12,621.

    The total interest outstanding for this loan will be Rs.1,05,825. Your total processing fee will be Rs.10,000.

    Year Principal paid (in Rs.) Interest paid (in Rs.) Total of principal paid and interest paid (in Rs.) Unsettled loan balance (in Rs.)
    2017 (From September) 34,654 15,830 50,484 4,65,345
    2018 1,10,956 40,501 1,51,457 3,54,389
    2019 1,22,271 29,183 1,51,454 2,32,117
    2020 1,34,740 16,717 1,51,457 97,377
    2021 (Until August) 97,377 3,594 1,00,971 0

    ICICI Bank Personal Loan Fees and Charges

    Loan processing fee or origination fee Up to 2.25% p.a. of loan amount along with applicable GST
    Extra interest on late payment of fee 24% p.a.
    Personal loan interest rate 10.99% p.a. to 22.00% p.a.
    Pre-payment charges 5% p.a. of unsettled principal amount along with applicable GST
    Repayment mode swap charges Rs.500 for each transaction along with the GST
    Account statement charges Rs.200 for each schedule along with the GST
    Foreclosure or repayment charges Rs.200 for each schedule along with the GST
    Duplicate No Due Certificate (NDC) OR No Objection Certificate (NOC) Rs.500 for each NOC along with the GST Rs.200 for each NDC along with the GST
    EMI bounce charges Rs.400 for each bounce along with the GST
    Amortisation schedule charges Rs.200 for each schedule along with the GST
    Loan cancellation charges Rs.3,000 along with the applicable GST
    Auto debit bounce charges Rs.50 along with the applicable GST
    • These interest rates can be modified or updated by ICICI Bank on a regular basis.
    • GST and other taxes will be imposed on the fees and charges according to the existing rates.
    • These interest rates have been effective from August 1, 2009.

    Interest rate range for ICICI personal loans from April 2017 to June 2017

    Maximum 19.5%
    Minimum 10.25%
    Mean 13.92%

    Marginal Cost of Funds Based Lending Rate (MCLR) for ICICI Personal Loans

    The MCLR rates are applicable for new borrowers. The latest MCLR rates charged by ICICI Bank for its personal loan are as follows:

    Tenure-wise benchmark MCLR Benchmark MCLR
    Overnight 8.95%
    1 month 8.95%
    3 months 9.05%
    6 months 9.10%
    1 year 9.15%

    ICICI Customer Care for Personal Loans

    If you have any questions or doubts about your ICICI personal loan, you can get in touch with the bank via the following ways:

    • You can send a text message to 5676766 with the content ‘PL’.
    • You can request a call from the bank by filling an online form with your name, last name, pin code, contact number, product type, and your email address.
    • You may also call the bank at the number given for each location and talk to a representative to get your doubts clarified.
    • You may also visit a bank branch and meet the customer care representative at the branch.

    ICICI Personal Loan Interest Rate FAQs

    1. How long does ICICI Bank take to disburse a personal loan application?

    ICICI Bank usually takes 72 hours to disburse a personal loan application.

    2. How does ICICI Bank credit the personal loan amount if the loan application is accepted?

    ICICI Bank will provide you with your personal loan amount via direct credit with the help of Fund Transfer (FT).

    3. What are the payment modes through which I can repay my ICICI personal loan?

    You can repay your ICICI personal loan through Electronic Clearing Service (ECS), Post-Dated Cheque (PDC), or Standing Instruction (SI).

    4. What is the minimum loan tenure for ICICI Personal Loan?

    The minimum loan period for ICICI Personal Loan is 12 months.

    5. What is the process that needs to be followed for the prepayment of an ICICI Personal Loan?

    When you plan to prepay your ICICI personal loan, you will need to first get a request letter which should be signed by you. Next, you will have to keep your PAN card ready if you plan to prepay with cash and if your prepayment amount is higher than Rs.50,000. In case, you cannot visit the bank branch when you want to prepay your loan, you can make arrangements for a representative. Your representative will need to carry an authority letter which is duly signed by you. Your representative will also need to carry your (the actual loan borrower) valid ID proof.

    6. What is the maximum personal loan amount offered by ICICI Bank?

    The maximum personal loan amount provided by ICICI Bank is Rs.20 lakh.

    7. Is there any minimum time limit after which I can prepay my ICICI Bank personal loan?

    Yes, you can prepay your ICICI personal loan only after you complete a period of 6 months. You will not be allowed to foreclose your loan before this.

    8. Will I need to make arrangements for any guarantor while applying for a personal loan from ICICI Bank?

    No, you do not need any guarantor in order to apply for a personal loan from ICICI Bank.

    9. What is the Base Rate for ICICI Bank personal loans?

    The Base Rate for ICICI Bank personal loans is 9.35% p.a. which has been effective from October 5, 2015.

    10. Does ICICI Bank offer any personal loan product for NRIs?

    Yes, ICICI Bank has exclusive personal loan options for NRIs. You do not have to offer any security or collateral. You can get a loan of up to Rs.10 lakh.

    11. What is the starting interest rate for personal loans for NRIs offered by ICICI Bank?

    The interest rates for ICICI Bank NRI personal loans start from 15.49% p.a.

    12. What is the maximum tenure for personal loans for NRIs provided by ICICI Bank?

    The maximum tenure for NRI personal loans provided by ICICI Bank is 36 months.

    13. If I want to make any modifications to my contact information that is recorded with ICICI Bank for my personal loan, what should I do?

    You can make changes to your contact information such as mobile number, mailing address, or email ID with the help of ICICI customer care or ICICI Internet Banking or by visiting any ICICI Bank branch. You can login to the internet banking platform of the bank with your user ID and password, and request for changing address or updating contact number and email address.

    You may also call the 24-hour customer care centre of the bank and get your contact details modified.

    You may also go to any ICICI Bank branch and then request for changing your contact information.

    14. Does ICICI Bank provide personal loans for business activities?

    Yes, the bank provides personal loans for business activities for self-employed people.

    15. Does ICICI Bank offer balance transfer features for personal loans?

    Yes, you can go for a balance transfer facility for an ICICI personal loan if you have completed paying 12 EMIs.

    16. Does ICICI Bank provide any top up facility for present personal loans?

    Yes, the bank provides a top up facility for existing personal loans if you have completed paying 12 EMIs. You can ask for a top up facility by visiting the bank’s internet banking platform or by going to any ICICI bank branch or by calling the bank’s customer care centre.

    17. Should the applicant be residing in India to apply for an ICICI NRI personal loan?

    Yes, to apply for an ICICI NRI personal loan, the applicant should be a resident Indian and the co-applicant will be the NRI who is a close relative of the main applicant.

    18. Does ICICI Bank offer any insurance option for ICICI personal loans?

    Yes, you can take the insurance plan known as ICICI Pru Loan Protect Plus plan to receive coverage while paying your personal loan EMIs.

    ICICI Personal Loan Interest Rates Reviews

    • ICICI Bank Personal Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      My personal loan was taken with ICICI BANK , i have bitter experience with this bank , the customer support attitude not good with this bank . Initially they said 12.9% of interest rate but later they charge 14% so it is very disappointing part . Loan amount is 1.5 lakh and it is sufficient to me .
      Was this review helpful? 1
      , kolkata
      Reviewed on Sep 16, 2018
    • ICICI Bank Personal Loan
      "GOOD SERVICE"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with ICICI BANK , they charged 7000 of processing fee and it is nominal . The process of getting loan was so quick within few days i got my loan . The rate of interest is 15.5% , tenure period is 3 year .Loan amount is up to the mark . Customer support is good with this bank .
      Was this review helpful? 0
      , kolkata
      Reviewed on Sep 16, 2018
    • ICICI Bank Personal Loan
      "Satisfactory"
      0.5 4.0/5 "Great!"
      I have taken my personal loan with ICICI bank . The service and response was good. The loan amount was 50,000 and the interest rate satisfactory . The tenure period was 3 years . I had no issues with the documentation here and everything was on line so its was convenient actually. The processing fee was nominal
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 12, 2018
    • ICICI Bank Personal Loan
      "Satisfactory"
      0.5 4.0/5 "Great!"
      I have taken my personal loan with ICICI bank . The service and responses was good. The loan amount was 50,000 and the interest rate was satisfactory . The tenure period was 3 years . I had no issues with the documentation here and everything was on line so its was convenient actually. The processing fee was nominal.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 12, 2018
    • ICICI Bank Personal Loan
      "Falls below expectations"
      0.5 2.0/5 "Expected more"
      I have taken my personal loan with ICICI Bank. The loan amount was 2,51,000 but i have received 2,44,000. The interest rate was satisfactory The customer service and responses was up to the mark. The tenure period was 2 years here. The documentation was smooth and everything was on line
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Sep 12, 2018
    • ICICI Bank Personal Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      My personal loan was taken with ICICI bank . The loan amount was 1 lakh and the process was good. The interest rate is very satisfactory and the tenure period was 5 years . There is no issues faced . They said that its a paperless approval but i was asked to submit the documents.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 12, 2018
    • ICICI Bank Personal Loan
      "GOOD SERVICE"
      0.5 5.0/5 "Blown Away!"
      I got my personal loan through ICICI BANK , the tenure period is 4years . The bank did not gave me preclosere option . Customer support is up to the mark , and the process of getting loan is quick . I pay EMI 3440 and they charge 5000 rs of processing fee which is too high .Rate of interest is 11.3% .
      Was this review helpful? 0
      , angul
      Reviewed on Sep 12, 2018
    • ICICI Bank Personal Loan
      "Not satified"
      0.5 1.0/5 "Really Bad"
      I have approached ICICI bank for my my personal loan .The loan amount was 6 lakhs and the interest rate was not satisfactory since the interest rate which showed on the web portal was different so i have refused taking the loan. I am not happy with the service and responses here,.
      Was this review helpful? 0
      , kakinada
      Reviewed on Sep 11, 2018
    • ICICI Bank Personal Loan
      "Nice experience"
      0.5 5.0/5 "Blown Away!"
      My personal loan is with ICICI Bank and the bank is good in the process. The customer services and response is good and there are no issues for me to get the loan. The rate of interest and processing charges are normal. The after loan process is also too good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 11, 2018
    • ICICI Bank Personal Loan
      "Good. Can do better"
      0.5 4.0/5 "Great!"
      Last year I have taken a personal loan with ICICI Bank and the process is good and quick. There were no issues in this experience. The rate of interest was of 10.99% and I had to pay a processing fee and also insurance. They need to work on the charges.
      Was this review helpful? 0
      , salem
      Reviewed on Sep 11, 2018
    • ICICI Bank Personal Loan
      "Need to work on the interest rate and charges"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with ICICI Bank. There was no difficulty to get the loan. The customer services and response is good and I got the loan on time. I had applied for 5.2 Lakh and I received only three lakhs. The rate of interest is of 13% and there was no processing fees. But I still rate them low is because though they have charged me a fee previously for the loan, they still wanted to charge me this time as well, since I negotiated they waived it off.
      Was this review helpful? 0
      , salem
      Reviewed on Sep 11, 2018
    • ICICI Bank Personal Loan
      "Overall good"
      0.5 5.0/5 "Blown Away!"
      After me applying for a personal loan with ICICI Bank. I received the loan in ten days. The customer services and response is good, but I did not get the loan as needed. I had applied for two lakhs and I received 1.5 lakh only. The rate of interest is of 15% and the processing fee is of 2%.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 11, 2018
    • ICICI Bank Personal Loan
      "Hassle free"
      0.5 4.5/5 "Excellent!"
      I have taken a personal loan with ICICI Bank. It is a very good experience and they were fast too. It was a convenient process and the loan was provided as per my requirement. The rate of interest is around 14% and the processing fee was there which is normal.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 11, 2018
    • ICICI Bank Personal Loan
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      I have taken personal loan from Icici bank for 5 lakhs , as the rate of interest which they said is 11.9% after that while receiving the cash the rate of interest was 15% which is false commitment which they have given to me Their customer service and response is not satisfied . The processing fees is Rs 7000 which is too high .
      Was this review helpful? 6
      , bangalore
      Reviewed on Sep 07, 2018
    • ICICI Bank Personal Loan
      "Need to Improve their service"
      0.5 2.0/5 "Expected more"
      Its instant paperless approval personal loan which i got from icici bank. Based on the number of transaction which i made with icici. As the rate of interest is very high of 17%. Their customer service is kind of average service .I have chosen the tenure period of 3 years and there is nil processing fees.
      Was this review helpful? 2
      , bangalore
      Reviewed on Sep 06, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      It has been a very good experience with this personal loan where the loan amount which they had provided also had been satisfactory as well. The interest rate with them has been nominal when compared with the market rate. There has not been any hassle faced with them so far.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 04, 2018
    • ICICI Bank Personal Loan
      "Best banking service "
      0.5 4.5/5 "Excellent!"
      Its an instant paperless approval personal loan which i got from icici bank. Based on the number of transaction which i made with icici. As the rate of interest is satisfactory but it is acceptable based on our urgency. Their customer service is way good an response was quick .I have chosen the tenure period of1.5 years and the processing fees were NIL.
      Was this review helpful? 1
      , new delhi
      Reviewed on Sep 04, 2018
    • ICICI Bank Personal Loan
      "Very Good Service"
      0.5 5.0/5 "Blown Away!"
      I had taken this Personal loan a very long time back and it has been a good experience with it. The loan amount which they had provided had been satisfactory, and even the interest rate has been nominal. Their customer support and their staff responses had been good as well where there has not been any hassle so far.
      Was this review helpful? 2
      , chennai
      Reviewed on Sep 03, 2018
    • ICICI Bank Personal Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      I have taken personal loan through ICICI BANK , my tenure period is 48 months . Initially they informed rate of interest will be 10.99% but later they charge 11.99% so i am not satisfied with interest rate . Customer service and their follow up is good . They charge processing fee with 4000 rs and loan amount is 10000 .
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 01, 2018
    • ICICI Bank Personal Loan
      "AVERAGE"
      0.5 1.0/5 "Really Bad"
      My loan amount was taken with ICICI BANK , the services which has been provided through this bank is average because i expected loan amount rs 300000 but i just got 190000 . My tenure period is 48month but i am not aware about rate of interest . Processing fee is 11000 and there is no option for foreclose .
      Was this review helpful? 1
      , ajmer
      Reviewed on Sep 01, 2018
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