ICICI Bank Personal Loan


ICICI Bank provides personal loan starting from 10.80% p.a. for amounts up to Rs 50 lakh, with repayment periods extending up to 6 years. Select ICICI Bank customers can enjoy pre- approved instant personal loans with disbursement in just 3 seconds.

Additionally, ICICI Bank offers balance transfer services for existing personal loans from other banks/NBFCS, ensuring lower interest rates. Customers maintaining salary accounts with ICICI Bank can also benefit from overdraft facilities.

Instant Loan

ICICI Bank Personal Loan limit

ICICI Bank Personal Loan limit Personal loan ranging from Rs 50,000 up to Rs. 50 lakhs are offered with competitive rates
starting at 10.50% p.a., and repayment periods can extend up to 8 years. A processing
fee of 2.50% of the loan amount, along with applicable GST, is charged by the bank.



Your eligibility for a Personal Loan depends on factors such as your salary, credit score and employment status.

ICICI Bank Personal Loan Processing Fees and Charges

Fee/Charge
Amount
Processing Fee
Up to 2% of loan amount + GST
Pre-payment Charges
For salaried customers: 3% + taxes on principal outstanding after 1st EMI; Nil if 12 or more EMIs paid. - For MSE classified customers: Nil after 1st EMI for loan amounts up to Rs 50 lakh
Loan Cancellation Charges
Rs 3,000 + GST
Penal Interest
24% p.a.
EMI Bounce Charges
Rs 400 per bounce + GST
Repayment mode swap charges
Rs 500 per transaction + GST

Steps to Apply for a Personal Loan with ICICI Bank

1
Choose your desired loan amount and tenure.

Choose your desired loan amount and tenure.

2
Supply essential personal and employment details.

Supply essential personal and employment details.

3
Review the selected loan amount and tenure.

Review the selected loan amount and tenure.

4
Confirm your loan application.

Confirm your loan application.

5
Receive the disbursed loan.

Receive the disbursed loan.

Types of ICICI Bank Personal Loans

Loan Type
Features
Wedding Loans
Provides urgent cash for venue booking, catering, jewelry, shopping, or guest accommodation. - Allows you to focus on your big day while being financially prepared with an ICICI Bank Personal Loan.
Home Renovation
Enables sprucing up the look of your home, conducting essential repairs, or acquiring new furniture, furnishings, or fixtures. - Helps transform your house into a home with an ICICI Bank Personal Loan.
NRI Personal Loan
Easy documentation and quicker processing. - Offers lower interest rates starting from 15.49% per annum. - Provides tenure of up to 36 months, facilitating easier management of expenses back home for NRIs.
Fresher Funding
Enables individuals to become eligible for a personal loan with their first salary. - Offers up to Rs. 1,50,000 personal loans without hassles through ICICI Bank Fresher Funding Loan.
ICICI Bank Pre- Approved Personal Loan
Instant Personal Loans for selecting existing customers with loan disbursal within 3 seconds. - Loan Amount: Up to Rs 50 lakh. - Tenure: 1-5 years.
ICICI Bank Top-up Personal Loan
Offers Personal loan top-up facility on existing loans with quick processing and disbursal. - Loan Amount: Rs 50,000-Rs 25 lakh.
ICICI Bank Personal Loan Balance Transfer
Allows existing personal loan borrowers from other banks/NBFCs to transfer their loans to ICICI Bank at lower interest rates.

Eligibility Criteria for ICICI Bank Personal Loan

A. Personal Loan Eligibility Criteria for Salaried Individuals

Age
Between 20 and 58 years
Net Salary
Minimum monthly income of Rs 30,000
Total Years of Work Experience
At least 2 years
Duration of Years at the Current Residence
Minimum of 1 year

Note: The minimum salary requirement may vary based on the customer’s profile (type of employer, relationship with ICICI Bank, etc.).



B. Loan Eligibility Criteria for Self-Employed Individuals

Age
Minimum age is 23 years, maximum age at the end of the tenure is 65 years
Maximum Loan Amount
Up to Rs 50 lakh
Business Vintage
Minimum 2 years in the current business and total experience of at least 3 years

Note: The minimum salary requirement may vary based on the customer’s profile (type of employer, relationship with ICICI Bank, etc.).

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Documents Required for ICICI Bank Personal Loan

Personal Loan Documentation
ID Proof
Required
Address Proof
Required
Bank Statement or Salary Slip
Required
Self-Employed Applicants
Documentation requirements may vary. Check before applying for a Personal Loan.
Pre-Approved Loans
No documentation required.
Instant disbursal of the loan into the applicant’s account upon application.

ICICI Bank Personal Loan Features and Benefits

Advantages
Details
Digital Application
Apply for Personal Loans online without visiting the bank.
Easy to Meet Eligibility Criteria
Resident Indians with a minimum monthly income of Rs 30,000 and self-employed professionals with a turnover of Rs 15 lakh are eligible.
Multi-Purpose Loan
Utilize the loan amount for various purposes such as home renovation, vacations, weddings, educational courses, appliances, gadgets, and medical emergencies.
No Security/Collateral required
No need to provide any security or collateral.
Quick Disbursement
Get quick loan disbursement. Eligible customers can avail pre-approved offers with loan disbursal in just 3 seconds.
Negligible Documentation
Minimal documentation required. PAN Card, Aadhaar Card, and income documents are necessary for first-time applicants. No documents needed for pre-approved loan offers.
Flexible Tenure Options
Choose a suitable tenure ranging from 12 months to 72 months.
Attractive Interest Rates
Enjoy competitive and constant interest rates throughout the loan tenure.
UCJ Platform for Non-Existing Customers
Non-existing customers can apply for a Personal Loan through the UCJ platform. KYC can be completed virtually, and salary details can be shared through Account Aggregator or Salary Account login.

Compare ICICI Personal Loan with Other Lenders

Bank
Interest Rate
Processing Fee
Foreclosure Charges
Late Payment Fee
ICICI Bank Personal Loan
Starting from 10.50% per annum, going up to 16% per annum
2.50% of the loan amount plus GST
3% of the outstanding loan amount
2% of the overdue amount per month
HDFC Bank Personal Loan
Starting from 10.50% per annum
Up to Rs.4,999
2% to 4% of the outstanding loan amount
2% of the overdue amount per month
Bank of Baroda Personal Loan
Starting from 10.35% per annum
Up to 2% of the loan amount plus GST
Not Applicable
2% of the overdue amount per month
Citibank Personal Loan
Starting from 10.75% per annum
3.00% of the loan amount plus GST
4% of the outstanding loan amount
Not Applicable

ICICI Bank Customer Care

Corporate Office
Mumbai, India
Tel
1800 1080
Fax
+91-22-26531122
Registered Office
Vadodara 390007, Gujarat, India. Tel: 1800 1080

Get the funds you need today!

Flexible Terms? or Quick Approval? or Low Interest Rates?
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Frequently Asked  Questions

How do I check the status of my ICICI Personal loan?
How can I repay my ICICI Bank personal loan?
How can I contact ICICI personal loan customer care?
Am I allowed to prepay or foreclose my ICICI Bank personal loan?
Does the bank offer a balance transfer facility?
Does the bank require a guarantor or security for personal loans?
What is the total time taken for the disbursal of an ICICI Bank personal loan?
What is the eligibility criteria to avail pre-approved personal loans?
Is Personal Loan Balance Transfer facility provided by ICICI Bank?
At what minimum credit score can I avail ICICI Bank Personal Loan?