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ICICI Bank offers a wide array of personal loan schemes for its customers. These schemes help in covering up various financial needs, such as fulfilling the applicant'ss personal requirements. ICICI offers affordable repayments with low interest rates and minimal loan requirements. Most affordable personal loans start at 10.50% per annum. There is no restrictions on the way funds are used. Additionally, you get fast application processing.
If you’re considering taking out a personal loan, you should also think about the monthly instalments. An important factor to consider is the affordability of the repayments. Borrowers should avoid using a personal loan to get further into debt by living above their means or buying expensive items they won’t be able to repay.
ICICI offers affordable repayments with low ICICI Bank Personal Loan Interest Rate and easy ICICI Bank Personal Loan requirements.
These are the ICICI Bank personal loan eligibility criteria set by the bank for both salaried and self-employed individuals. These criteria are as follows:
| Credit facility Type | ICICI Bank Personal Loan Interest Rate and Charges Applicable |
| Personal Loan Interest Rates | 10.75% per annum to 19% per annum |
| Charges for Loan Processing Charges or Origination (Non-Refundable) | Up to 2.50% of total loan amount + GST |
| Charges for Prepayment | 5% on principal outstanding plus GST (for salaried customers) |
| Nil, if loan is closed using own funds (MSME classified customers) | |
| Additional Interest on late payment | 24% per annum |
| Charges for Repayment Mode Swap | ₹500 per transaction plus GST |
| Charges for Loan Cancellation | ₹3000 plus GST |
| Charges for EMI Bounce | ₹400 per bounce plus GST |
Both salaried and self-employed individuals need to furnish the documents required for ICICI Bank Personal Loan. Both the documents for salaried and self-employed are mentioned in the sections below.
The ICICI Bank Personal Loan interest rate is one of the most affordable and competitive in the market. The interest rate is less likely to be a burden on the borrowers. The ICICI Bank Personal Loan interest rate starts from 10.75% per annum and can go up to 19% per annum.
ICICI Bank offers a wide array of personal loan schemes for its customers. These schemes help in covering up various financial needs, such as fulfilling the applicant’s personal requirements. Below listed are the different personal loans offered by ICICI Bank:
| NRI Personal Loan | To address the personal needs of Non-Resident Indians. |
| Top-Up Loan | A supplement to the existing loan with speedy processing and disbursement capabilities to meet the applicants’ particular requirements. |
| Balance Transfer | Existing personal loans from other banks/NBFCs are transferred to ICICI Bank at a cheaper ICICI Bank personal loan interest rate. |
| New Personal Loan | Fill out your personal and professional information to be eligible for a loan and then choose a loan amount that meets your needs. |
| Fresher Funding | To cover the personal expenditures of new hires and freshmen. |
| Pre Qualified Loan | Personal loans online with a simple application process and speedy processing. |
| Flexicash | To provide a short-term quick credit or overdraft facility to ICICI Bank salary account holders to pay any unexpected costs. |
| Business Loan | Akin to a personal loan but tailored specifically to your company’s needs. |
| Pre Approved Loan | Select ICICI customers can get an instant personal loan with a loan disbursement time of 3 seconds. |
If you take out a personal loan for a certain length of time, the EMI (Equated Monthly Instalment) is the monthly payment. Throughout the loan term, the EMI amount will be used to pay down both the Principal Loan Amount and the Personal Loan Interest until the loan is paid in full. The EMI will remain the same throughout the duration of the contract.
After entering the Loan Amount, Annual ICICI Bank Personal Loan Interest Rate, and Loan Tenure, the calculator will calculate the monthly EMI and total interest due until the loan is paid off.
ICICI Bank has built an efficient customer service department to handle consumer enquiries, grievances, and complaints.
| Customer Care E-mail Address | customer.care@icicibank.com |
| Using Chatbot | Ask iPal on the official portal of ICICI Bank |
| Send SMS on | ‘PL’ to 5676766 |
| Toll-free number | 1860-120-7777 |
You can also request a call back from the bank by visiting the official portal of ICICI Bank
ICICI Bank offers a fixed ICICI Bank Personal Loan interest rate which is less likely to be converted into a flexible one. But if you have a good relationship with the bank, you can talk it out with the representatives.
A personal loan is a beneficial choice when you are lacking funds in some cases, such as a home renovation, trip with family, unexpected medical conditions, etc. Hence, the personal loan is a worthy choice to consider.
The minimum salary of an individual should be ₹30,000 to avail a personal loan from ICICI Bank.
Yes, ICICI Bank personal loan interest rate is a fixed value that starts from 10.5% per annum and can go up to 19% per annum, depending upon loan amount, tenure, the profile of the applicant, etc.
You can check your personal loan status through the loan application reference number on the official website of ICICI, calling the customer care services or by visiting the nearest ICICI Bank.
CIBIL/Credit score is an important contributing factor that ICICI Bank considers. This score helps them to know the creditworthiness of the applicant and his capacity to repay the loan.
ICICI Bank offers loan amounts ranging from ₹50,000 up to ₹20 lakhs.