ICICI Bank Personal Loan

Interest Rate starts from 11.49%
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Personal Loan From ICICI Bank

A personal loan can come in help for any kind of situation like marriage, vacation, festivals, medical emergency etc. ApnaLoanBazaar provides you the customized and personalized quote for Personal Loan at lowest interest rates from various banks.
Interest Rate starts from 11.49%
Processing Fee
Upto 2.50%
Loan Tenure
Upto 5 Years
Guarantor Requirement
No
Part-Payment
Not Allowed
Pre-Closure Charges
3%

About ICICI Bank

ICICI Bank Limited (the Bank) is a banking company. The Bank is a diversified financial services group offering a range of banking and financial services to corporate and retail customers through a variety of delivery channels. The Bank operates in the segments: retail banking, wholesale banking, treasury, other banking, life insurance, general insurance and others. The Bank provides a range of commercial banking and project finance products and services, including loan products, fee and commission-based products and services, deposit products and foreign exchange and derivatives products to corporations, middle market companies and small and medium enterprises in India. Its commercial banking operations for retail customers consist of retail lending and deposit taking and distribution of third party investment products. It also offers agricultural and rural banking products.

Highlights

ICICI Bank was ranked first in ‘The Brand Trust Report, India Study 2016’ done by Trust Research Advisory (TRA) under the BFSI category
‘Best Retail Bank in India’ in Asia Pacific, at the Asian Banker Excellence in Retail Financial Services International Awards 2016.
‘Best Employee Engagement Initiative’ Middle-East and Africa at the Asian Banker Excellence in Retail Financial Services International Awards 2016
IBA Banking Technology Awards 2016 in the category of 'The Best Use of Technology to Enhance Customer Experience'
ICICI Bank won the 'Global Safety Awards 2016' organised by The Energy and Environment Foundation
ICICI Bank won ‘Best Private Sector Bank’ under ‘Global Business’ category at the ‘Dun & Bradstreet Banking Awards 2015

FAQs About ICICI Bank Personal Loan

What are the minimum and maximum loan amounts?
  • You can avail of loans ranging from Rs 50,000/- to Rs 15,00,000/- depending on your eligibility, income and repayment capacity.
What are the loan tenure options?
  • The loan can be repaid over a period of 12 to 60 months.
Are there any additional charges?
  • A processing fee of 2% to 2.25% depending on the company you are employed in and location of the loan will be levied. This fee will be deducted from the disbursal amount payable to you.
How much time will it take for my loan to be approved?
  • Loans are approved within 72 hours of submission of complete documentation.
Do I have to provide any security, collateral or guarantors?
  • No security, collateral or guarantors are required for obtaining Personal Loans.
How do I repay the loan?
  • You can repay the loan in Equated Monthly Installments (EMI's) through post-dated cheques favouring ICICI Bank Limited, or if you have an ICICI Bank account you can mandate us to directly debit the same or by ECS ( Electronic Clearing Services) with any other Bank
Can I prepay my loan?
  • Yes, you can prepay the entire loan outstanding anytime after paying 6 installments. Prepayment charges as applicable would be levied on the outstanding loan amount. No part prepayment is allowed.
Can I get a Personal Loan for business purpose?
  • Yes we offer Personal Loan for business purpose, to self employed individuals as well.
What is the procedure to prepay my Personal Loan?
  • For prepayment of your Personal Loan account, please visit our nearest ICICI Bank branch. We request you to carry with you the following documents to complete the process:
  • Request Letter signed by the loan applicant
  • PAN Card (if the mode of payment is cash and the amount is more than Rs.50,000)
  • Payment can be made through cash, cheque or demand draft.
How can I prepay my Personal Loan as I am unable to visit branch?
  • In case you are unable to visit our branch for prepayment of your loan, you can send your representative along with an authority letter duly signed by the loan applicant, for payment. The co-applicant or third party visiting the branch for closing the loan needs to carry the documents mentioned below:
  • Main applicant Identification proof (Driving License or Passport or Voters card or PAN Card)
  • Authorisation letter from main applicant.
Do you offer top up on existing Personal Loans?
  • We offer Top Up facility if you have paid 12 EMI on the existing Personal Loan.

Required Documentation For Salaried Persons

  • Filled Application Form
  • Identity Proof (PAN CARD)
  • Address Proof
  • Latest 3 months Payslips
  • Job Continuity Proof
  • 2 Passport Size colour Photographs
  • 6 months Bank Statements
  • 3 Post Dated Cheques/ECS Mandate

Required Documentation For Self Employed

  • Filled Application Form
  • Identity Proof (PAN CARD)
  • Address Proof
  • Last 2 years Income Tax Returns
  • Professional/Self employed existence proof for more than 3 years
  • 2 Passport Size colour Photographs
  • 6 months Bank Statements
  • 3 Post Dated Cheques/ECS Mandate

Identity Proof For Personal Loan

  • Passport
  • Driving License
  • PAN card
  • Photo credit card (with embossed Signature and last two months statement)
  • Banker's sign verification

Age Proof For Personal Loan

  • PAN Card
  • Passport
  • License
  • School leaving certificate
  • Voter card
  • Birth Certificate
  • LIC policy (only for age Proof)

Income Proof For Personal Loan

  • Latest salary slip
  • Current dated salary Certificate with latest form 16.
  • Latest year IT Returns with Tax Audit reports(For Self Employed applicants)

Job Continuity Proof For Personal Loan

  • Form 16
  • Relieving letter
  • Appointment Letter (for last two months)
  • Last 6 months of VAT/Service Tax returns (For Self Employed Applicants)

Banking History For Personal Loan

  • Bank statements of latest 2 months
  • 3 months bank passbook

Personal Loan Can Be Used For Many Purposes Like Below

Higher Education

Marriage

Vacations

Festivals

Medical Emergency

Home Renovation

Consumer Goods

School Fees

Why To Avail ICICI Bank Personal Loans?
Expert Advice
Factors That Affect Interest Rates
Advantages And Disadvantages
10 Things To Keep In Mind
ICICI Bank Personal Loan Precautions