Multiple banks. Different interest rates. Call it a "conflict of interest".
  • ICICI Bank Personal Loan is Rated as "Great!" by 17785 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN

    ICICI Bank Personal Loan

    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% 
     

    Compare ICICI personal loan with loans from 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.

        

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    ICICI Bank Personal Loan Reviews

    • ICICI Bank Personal Loan
      "Good Experience"
      0.5 4.0/5 "Great!"
      ICICI gave me Rs. 2 lakhs of loan with 14.99% of interest, the customer executive response is prompt. I paid all the emi even I got the NOC letter on time. The loan documentation was completed on time and also they sanctioned the amount without any hassles.
      Was this review helpful? 1
      , chennai
      Reviewed on Jul 13, 2019
    • ICICI Bank
      ICICI Bank Personal Loan
      "Best Loan"
      0.5 5.0/5 "Blown Away!"
      In last 2 months before, i have chosen ICICI bank for my personal because its given me a instant free approved loan hence i applied instantly the amount is credited to my account. There is no documents to required to longer wait. I got the interest rate of 14% which includes with all the charges.
      Was this review helpful? 1
      , ahmedabad
      Reviewed on Jul 12, 2019
    • ICICI Bank Personal Loan
      "Best service"
      0.5 4.5/5 "Excellent!"
      I had applied for a personal loan with ICICI BANK , i got that approved with in few days . The service given was good. The tenure period is fine . Customer service was good and they collected documents on time. The rate of interest is FINE . Overall it is good experience .
      Was this review helpful? 2
      , navi mumbai
      Reviewed on Jul 11, 2019
    • ICICI Bank Personal Loan
      "Hassle free experience"
      0.5 4.0/5 "Great!"
      I took Rs. 2.80 lakhs of loan from ICICI with 10.9% of interest, they called and send the person to collect the papers within three days of time. They approved the loan and sanctioned the amount, I don't want to visit to the bank everything happened through the phone.
      Was this review helpful? 2
      , thane
      Reviewed on Jul 11, 2019
    • ICICI Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      " I applied for a personal loan and it happened to process quick. It took just a week time to get things done. Tenure period and the rate of interest is less here . I applied my loan with ICICI BANK . Overall it has been good experience with this bank . I am happy with customer service and response . "
      Was this review helpful? 0
      , bokaro
      Reviewed on Jul 11, 2019
    • ICICI Bank Personal Loan
      "Need to reduce rate of intrest "
      0.5 2.0/5 "Expected more"
      I applied my personal loan with ICICI BANK . The rate of interest which they was charging was too high so i cancel this loan i was getting nominal interest rate with other bank . They have not negotiate when i said alos . But the service is good customer support response was good .
      Was this review helpful? 0
      , neem ka thana
      Reviewed on Jul 10, 2019
    • ICICI Bank Personal Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I am using the personal loan since from last one month with ICICI BANK, the loan amount given was good which was satisfactory also the documentation process was simple and quick process to get the loan i got the loan amount within 1 week of time.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 10, 2019
    • ICICI Bank Personal Loan
      "Good deal"
      0.5 4.0/5 "Great!"
      ICICI Bank is also good in the personal loan process. The customer services and response is good and there has been no hassles in the process. They have offered a good rate of interest and processing charges. The loan was processed on time too.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 10, 2019
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I recently applied for personal loan with ICICI bank , i directly approach directly to the bank, the loan amount which they have given to me was sufficient compare to HDFC bank they have charged me less interest rate up to 14.9% which was okay but i would like to suggest them to reduce more interest rate .
      Was this review helpful? 1
      , surat
      Reviewed on Jul 10, 2019
    • ICICI Bank Personal Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I am using the personal loan from last 1 month with ICICI BANK, the documentation process was done through offline. The loan amount given was good also the rate of interest was nominal. There was a processing fee also the customer support is good.
      Was this review helpful? 1
      , thane
      Reviewed on Jul 10, 2019
    • ICICI Bank Personal Loan
      "For me its good loan experience"
      0.5 5.0/5 "Blown Away!"
      The day before i got a loan from ICICI. I got a pre-approved offer from savings account on ICICI bank. I have received the loan amount of Rs. 2.20 lakhs for that i do not need to submit any documents and the amount is credited to my account in 3 seconds. Initially the interest rate is nominal and its pretty much high which is 16%. On a day of receiving the money that particular day interest will be calculated on my loan amount which is a fixed one.
      Was this review helpful? 3
      , bangalore
      Reviewed on Jul 06, 2019
    • ICICI Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan through ICICI BANK , the Application process was smooth and the loan amount was credited to my account with in few days. The documentation was also very fast. I am happy with their services considering the loan experience. The tenure period is fine .
      Was this review helpful? 3
      , delhi
      Reviewed on Jul 06, 2019
    • ICICI Bank Personal Loan
      "Good Loan services"
      0.5 5.0/5 "Blown Away!"
      I bought the personal loan from ICICI and the interest rate is quite high which is 14% even though its high i took it for my need. My friend has suggested me about the loan. 1 year ago, i got this loan and iâ??m paying the EMI of Rs. 1427 for the tenure period for 4 years. They have provided me a loan in 4 days. When i asked for the rate of interest rate negotiation, they informed me about their procedure. Process is very transparent.
      Was this review helpful? 2
      , chennai
      Reviewed on Jul 05, 2019
    • ICICI Bank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have taken a personal loan in ICICI bank for more than 2 months ago, which was processed directly to bank. The loan amount was sufficient which was offered from bank for the tenure of 60 months. The rate of interest and the processing fee are average. Loan got sanctioned on time.
      Was this review helpful? 1
      , bhubaneshwar
      Reviewed on Jul 05, 2019
    • ICICI Bank Personal Loan
      "Good services"
      0.5 4.5/5 "Excellent!"
      ICICI has sanctioned the personal loan on time and within one week the amount has credited into my account. I got the interest rate of 11.56% and the processing fee was 2%. The EMI amount has been deducted from my account directly through ECS. ICICI loan process was convenient for me.
      Was this review helpful? 1
      , visakhapatnam
      Reviewed on Jul 05, 2019
    • ICICI Bank Personal Loan
      "High on ROI and fees"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with ICICI Bank. The customer support and response is good and I also received the loan on time and as per my requirement. But, the rate of interest and processing charges is high. They need to improve on that and the after loan services is good too.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Jul 05, 2019
    • ICICI Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have selected loan Rs 50,000 Tenure 2 year EMI Rs 2500 , one time process is applicable .while documents through online verification call done through they given clear information about loan .Customer service is good ans responsive .I will recommend to my friends and relatives.
      Was this review helpful? 3
      , ahmedabad
      Reviewed on Jul 05, 2019
    • ICICI Bank Personal Loan
      "Good process"
      0.5 5.0/5 "Blown Away!"
      My personal loan is with ICICI Bank and it was a good experience. The process is good and the loan was provided to me on time and as needed. The rate of interest and the processing charges is high and there are no hassles in the after loan services.
      Was this review helpful? 2
      , jagdalpur
      Reviewed on Jul 05, 2019
    • ICICI Bank Personal Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I got the loan within 5 days, the documentation process was quick to get the loan. The loan amount given was sufficient also the rate of interest was 14.99% it is higher than others in the market. I am using the loan from last 2-3 months, the duration for repaying for 5 years.
      Was this review helpful? 2
      , chennai
      Reviewed on Jul 04, 2019
    • ICICI Bank Personal Loan
      "Average serevice"
      0.5 3.0/5 "Satisfactory"
      I had selected ICICI BANK for my personal loan . The process in getting the loan was very smooth and the disbusrment was on time. The loan amount has been fine and the processing fee has also been nominal. Overall it has been very good service and i have good experience.
      Was this review helpful? 2
      , pune
      Reviewed on Jul 04, 2019
    Common Loader Icon
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.