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    ICICI Bank Personal Loan

    ICICI Bank is one of the top lenders in India’s private sector. The personal loan offered by the bank comes with interest rates starting from just 11.25% p.a.

    • Quick disbursal and hassle-free application process 
    • 2.25% processing fee
    • Up to Rs.20 lakh in personal loans
    • Loan tenure up to 5 years
    More
    We found 1 ICICI Bank Personal Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    11.25% - 22.00% Fixed
    From .75% (min. ₹999 + applicable tax) One time fee
    20L Max
    1-5 Years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    ICICI Bank Personal Loan is Rated as "Great!" by 17681 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN

    Features of ICICI Personal Loan

    • Quick disbursal: Once your application is approved, the loan amount will be transferred to your account within three seconds.
    • The interest rate will remain fixed for the entire tenure of the loan.
    • Hassle-free application process.
    • Minimal documentation.
    • Flexible repayment tenures.

    ICICI Bank Personal Loan Fees and Charges

    Maximum Loan Amount Rs.20 lakh
    Tenure 12 months to 60 months
    Interest Rate 11.25% onwards
    Processing Fees Up to 2.25% p.a. of the loan amount + GST
    Prepayment Charges 5% p.a. of principal outstanding amount + GST
    Loan Cancellation Charges Rs.3,000 + GST

    Other Charges and Penalties

    Additional interest on late payment 24% p.a.
    Repayment mode swap charges Rs.500 per transaction + GST
    EMI bounce charges Rs.400 per bounce + GST
     

    Eligibility Criteria

    Salaried applicants:

    Age 23 years to 58 years
    Net salary
    • Rs.25,000 for applicants living in New Delhi and Mumbai
    • Rs.20,000 for applicants living in Bangalore, Chennai, Kolkata, Hyderabad and Pune
    • Rs.17,500 for applicants living in other cities
    Number of years in current residence 1 year
    Number of years in job/profession 2 years

    Self-employed applicants:

    Age 25 years (for doctors) and 28 years (for self-employed individuals) to 65 years
    Minimum turnover Rs.15 lakh for professionals and Rs.40 lakh for non-professionals as per audited financials
    Minimum profit after tax Rs.1 lakh for non-professionals and Rs.2 lakh for self-employed individuals or proprietorship firms as per audited financials
    Business stability At least 3 years for doctors and 5 years for professionals in their current business

    Documents Required for ICICI Bank Personal Loan

    If you are a salaried applicant, here are the documents you need to submit for a personal loan from ICICI Bank:

    • ID Proof: Any one of PAN card, driving license, passport, or voters ID
    • Residence Proof: Any one of passport, recent utility bills, or lease or rent agreement
    • Salary slips for the last 3 months
    • Bank statement for the last 3 months
    • 2 passport size photographs

    Here are the documents required for ICICI Bank personal loans for self-employed individuals:

    • KYC Documents: ID proof, residence proof, proof of date of birth
    • Income Proof: Audited financial statements for the last 2 years
    • Proof of office or residence ownership
    • Proof of office address
    • Bank statements for the last 6 months
    • Proof of continuity of business
     

    How to calculate EMI for ICICI Bank Personal Loan?

    BankBazaar.com offers users a unique tool to calculate your EMI for all loans. This helps you to understand how much a loan would cost you, and plan your budgets accordingly before applying for a loan.

    With our loan calculator tool, all you need to do is to enter the amount you wish to apply and the preferred tenure. The loan calculator then calculates the EMI based on the applicable rate of interest and displays your monthly EMI.

    Let’s consider an example to check how the EMI calculation works for your ICICI personal loan. You take a personal loan of Rs.1 lakh from ICICI at an interest of 11.25% p.a. for a period of 1 year. For this loan, your loan repayment EMI is set at Rs.8,850. The repayment schedule for this loan is given as follows: 

    Year  Principal  Interest  EMI (principal + interest)  Balance  Percentage of loan paid to date 
    Apr  Rs.7,912  Rs.938  Rs.8,850  Rs.92,088  7.91% 
               
    May  Rs.7,987  Rs.863  Rs.8,850  Rs.84,101  15.90% 
    Jun  Rs.8,061  Rs.788  Rs.8,850  Rs.76,040  23.96% 
    Jul  Rs.8,137  Rs.713  Rs.8,850  Rs.67,903  32.10% 
    Aug  Rs.8,213  Rs.637  Rs.8,850  Rs.59,690  40.31% 
    Sep  Rs.8,290  Rs.560  Rs.8,850  Rs.51,399  48.60% 
    Oct  Rs.8,368  Rs.482  Rs.8,850  Rs.43,031  56.97% 
    Nov  Rs.8,446  Rs.403  Rs.8,850  Rs.34,585  65.42% 
    Dec  Rs.8,526  Rs.324  Rs.8,850  Rs.26,059  73.94% 
    Jan  Rs.8,606  Rs.244  Rs.8,850  Rs.17,454  82.55% 
    Feb  Rs.8,686  Rs.164  Rs.8,850  Rs.8,768  91.23% 
    Mar  Rs.8,768  Rs.82  Rs.8,850  Rs. 0  100.00% 
     

    How ICICI Bank compares with other lenders?

    Fees and charges  ICICI bank Personal Loan  HDFC Bank Personal Loan  Bank of Baroda Personal Loan  Citibank Personal Loan 
    Interest rate  11.25% p.a. onwards  15.5% p.a. onwards  11.65% p.a. onwards  10.99% p.a. onwards 
    Processing fee  2.25% + GST  2.5% + GST  2% + GST  0.25% to 3.00% + GST 
    Foreclosure charges  5% of the outstanding loan amount  2% to 4% of the outstanding loan amount  N/A  4% of the principal outstanding 
    Late payment fee  2% of the overdue amount per month  2% of the overdue amount per month  2% of the overdue amount per month  Contact the bank for details 

    Brief Summary

    ICICI Bank is not only the largest private sector banks in the country but also one of the largest facilitators of personal loans in India. It offers personal loans to help borrowers ride over any immediate financial requirements. ICICI Banks understand that time is of paramount significance when faced with financial crisis and hence fast tracks all its personal loan applications resulting in quick loan approval and facilitation.

    Whether you wish to take off on a dream vacation to an exotic overseas destination or finance a grand wedding for yourself or a loved one, ICICI Bank personal loans can help you fulfil your financial goals with relative ease. Thanks to easy-to-meet eligibility criteria in addition to low interest rates and flexible repayment tenures, repaying the loan is just as borrowing it.

     

    Related loan products by ICICI bank

    ICICI Loan for New Entities ICICI Loan against Property ICICI Agriculture Loan ICICI Bank SME Loans
     

    Frequently Asked Questions

    Am I allowed to prepay or foreclose my ICICI Bank personal loan?

    The whole outstanding amount can be repaid at any time over the course of the loan tenure. However, you will have to pay at least one instalment before you foreclose your loan. You will also have to pay a fee of 5% of the outstanding loan amount plus GST at the time of prepayment/foreclosure.

    Can I prepay my ICICI Bank personal loan partly?

    ICICI Bank does not allow part prepayment, but for full prepayment/foreclosure, you will have to submit a duly signed request letter to the bank along withyourPAN card in case you are making the payment by cash. You can also prepay your personal loan through demand draft or cheque.

    How can I repay my ICICI Bank personal loan?

    The repayment of your ICICI Bank personal loan can be done through Equated Monthly Instalments (EMIs). Customers who have an account with ICICI Bank can repay the loan using the direct debit facility. Customers of other banks can repay their loans through NACH mandate.

    Can I get a top up on my current ICICI Bank personal loan?

    ICICI Bank offers the top up facility to customers who have made 12 EMI payments on their current personal loans. The request for a top up can be placed through net banking, by calling customer care, or by visiting a branch of the bank.

    Does the bank offer the balance transfer facility?

    Yes, customers who have made at least 12 EMI payments are eligible for the balance transfer facility. To avail the same, you will have to contact customer care or visit the nearest branch of ICICI Bank.

    How can I apply for an ICICI Bank personal loan?

    To apply for a personal loan from ICICI Bank, you will have to visit the website of the bank and go to the personal loansection, orcall the bank’s customer care on 18601207777 from 8:00 a.m. to 8:00 p.m., or visit a branch of the bank.

    Does the bank require a guarantor or security for personal loans?

    No, you can avail a personal loan without having to pledge any security or signing up a guarantor.

        

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    ICICI Bank Personal Loan Reviews

    • ICICI Bank Personal Loan
      "Need to decearse hidden charges"
      0.5 3.0/5 "Satisfactory"
      I have taken a personal loan in ICICI bank for the past 4 years. The amount which I received from bank was sufficient as per my expectation for the duration of 3 years. The rate of interest for 12% is nominal in this bank. The charges are applicable for this loan.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 21, 2019
    • ICICI Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have using ICICI bank personal loan from long time, the loan amount which they have given me was good, it was sufficient for me, the rate of interest they have charged me was up to 13-14% which was nominal,the processing fee they have charged me was nominal, still this loan is running.
      Was this review helpful? 1
      , new delhi
      Reviewed on May 20, 2019
    • ICICI Bank Personal Loan
      "Excellent"
      0.5 4.0/5 "Great!"
      I was taken personal loan from ICICI bank for more then month while iam applied loan amount 3 lakhs and tenure 60 months as per expatiation i received loan with good rate interested and processing fee. loan got disbursed on time and customer service is good.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 20, 2019
    • ICICI Bank Personal Loan
      "Good Loan product"
      0.5 5.0/5 "Blown Away!"
      I have taken ICICI personal loan based on the credit card. My principal amount is Rs. 2 lakhs with lesser interest. It has the term of 12 months. Monthly I pay the emi through credit card and its reflect in the credit card bill. There was no processing fee at all, the entire amount got credited in the account without blocking the limit.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 20, 2019
    • ICICI Bank Personal Loan
      "Good Loan service"
      0.5 5.0/5 "Blown Away!"
      Because of the lower interest rate i have chose the ICICI bank for my personal loan. I have received the loan in 3 days. Proactively they have contacted me for the loan offer and i have contacted the same. There is a processing fee of 3% from the loan amount. They have a partial payment and pre-closure options are available with some additional charges.
      Was this review helpful? 2
      , indore
      Reviewed on May 18, 2019
    • ICICI Bank Personal Loan
      "Need to improve customer service"
      0.5 3.0/5 "Satisfactory"
      The personal loan was taken from ICICI bank for the past 6 years ago. The loan amount was sufficient as per my expectation at the time for the duration of 5 years. The rate of interest was too high .To reach the customer service is difficult and no proper response. I have closed the loan.
      Was this review helpful? 2
      , pune
      Reviewed on May 17, 2019
    • ICICI Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken a Personal loan from ICICI Bank almost ten years back and the experience had been pretty much good. The loan amount has been fine and the interest rate with them had been nominal as well. They had not made any sort of hidden charges and their customer support team had also been quite helpful. Overall it had been a good experience.
      Was this review helpful? 1
      , ahmedabad
      Reviewed on May 17, 2019
    • ICICI Bank Personal Loan
      "Need to decreae charges"
      0.5 2.0/5 "Expected more"
      I have a taken a personal loan in ICICI bank for more than a year. The verification was done in delay , they have collected many documents and I received many calls. But I have not received the amount as per my expectation it was minimal only for the duration of 5 years. The rate of interest is high.They giving a prepayment charges.
      Was this review helpful? 1
      , hyderabad
      Reviewed on May 16, 2019
    • ICICI Bank Personal Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I am happy with ICICI bank services as my request was addressed and was taken care by them. To my surprise , there was no trouble and the process of getting approval was easy. It took few days thats it.I got this loan offline and the documentation part was very easy .
      Was this review helpful? 2
      , mumbai
      Reviewed on May 15, 2019
    • ICICI Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I applied for a personal loan with ICICI BANK and without any delay it was processed on time . I am happy the way they understood my need. Only they need to work on precloserre option where in SBI there is no charges for preclposere and in others bank they have .
      Was this review helpful? 2
      , gurgaon
      Reviewed on May 15, 2019
    • ICICI Bank Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I took a personal loan from the ICICI BANK . The tenure period is sufficient and there is no hidden charges . Only i got the problem that there is so much delay in getting the loan . The customer services and response is good .They are also normal on the rate of interest .
      Was this review helpful? 2
      , bangalore
      Reviewed on May 14, 2019
    • ICICI Bank Personal Loan
      "Reasonable Interest Rate"
      0.5 4.0/5 "Great!"
      ICICI has offered me a personal loan based on my salary profile . Initially when I applied for a loan in ICICI , they said a charge of 15 % interest will be there . Based on my track record , it will minimized . Now I have taken some top up loans with lesser interest rates .
      Was this review helpful? 1
      , chennai
      Reviewed on May 14, 2019
    • ICICI Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been using ICICI bank personal loan for an while, the loan amount was sufficient, the rate of interest they have charged me up to 13.45% which was nominal, the processing fee they have charged me up to 2000 which was nominal, still this loan is running, they had supported me very much, like in doing emi payment i need to do ecs account they have given me idea for updating ECS option.
      Was this review helpful? 2
      , chennai
      Reviewed on May 14, 2019
    • ICICI Bank Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I was taken a personal loan before 3 years ago, through an agent I have applied a loan in ICICI bank. As per my expectation i received a loan amount for the duration of 3 years. The rate of interest was nominal with this loan. The customer service is good and responsiveness. now I have closed the loan.
      Was this review helpful? 2
      , hyderabad
      Reviewed on May 14, 2019
    • ICICI Bank Personal Loan
      "GOOD"
      0.5 4.0/5 "Great!"
      I have taken the personal loan with the ICICI BANK where the documentation process was simple and quick process. The loan amount was good also the rate of interest was nominal with this loan. The customer service and responsiveness is good with this loan.
      Was this review helpful? 2
      , ahmedabad
      Reviewed on May 13, 2019
    • ICICI Bank Personal Loan
      "Need to improve customer service and response "
      0.5 5.0/5 "Blown Away!"
      I was a taken a personal loan in ICICI bank, the process was smooth. The rate of interest was high when compare to other bank. The loan amount of 5 lakhs for the duration of 3 years. Customer service is no proper response so want to improve their service. I have done pre closure for the personal loan.
      Was this review helpful? 1
      , new delhi
      Reviewed on May 13, 2019
    • ICICI Bank Personal Loan
      "Good Service"
      0.5 3.5/5 "Pretty good"
      I had taken Personal loan last year and the overall process in getting the loan was pretty much quick, the loan amount has been fine and the interest rate was around 13% which was quite nominal. The processing fee and charges where nominal like the other banks. Their customer support team had been quite good as well.
      Was this review helpful? 1
      , thane
      Reviewed on May 12, 2019
    • ICICI Bank Personal Loan
      "It should be better"
      0.5 2.0/5 "Expected more"
      I am working in a good company and lot of employee avail the loan through ICICI BANK and they put a campaign on the company. I took a loan for my marriage with rate of interest 15.5% where my colleague are got around 13.5% but I got for market price and they are doing variation for person to person. The process was immediate and good.
      Was this review helpful? 1
      , hyderabad
      Reviewed on May 12, 2019
    • ICICI Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I am happy with the services of ICICI BANK , the documentation part was so convenient , i do not have to face nay issue . The loan amount is good and i am happy with that . I receive my loan amount within few days . Customer support and response was good .
      Was this review helpful? 5
      , bangalore
      Reviewed on May 10, 2019
    • ICICI Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I hold personal loan with ICICI bank from long time, They have not charged me high rate of interest which they have given to me, they have charged me minimal processing fee, the loan amount was sufficient, They did not charged any kind of hidden charges.
      Was this review helpful? 2
      , bangalore
      Reviewed on May 08, 2019
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