Personal Loan is also known as an unsecured loan. There are various banks and nonbanking financial companies that provide a personal loan to the customer at affordable interest rates. But the financial services offered by the ICICI Bank are the best one. The bank is very renowned as well. Besides that in terms of assets and market capitalization, the bank is the 2nd  largest bank in India. The bank was founded in 1994, and the headquarter of the bank is in Mumbai Maharashtra. The bank has a big network of 4867 branches. The bank has its subsidiary in other countries as well. The bank provides so many financial services to customers like online banking, retail banking, credit cards, and loans. These loans include gold loan, personal loan, car loan, business loan, home loan and education loan.

Why should one apply for ICICI Bank Personal Loan?

ICICI Bank Personal loan is one of the best products of the bank. ICICI Bank is the leading provider of loans and has been performing very well. A personal loan from ICICI can be used for many reasons, and one does not need to give the reason for taking the loan. ICICI Bank provides personal loans at affordable interest rates and in just 72 hours. This is why a large number of people apply for an ICICI personal loan.

  1. Flexible loan tenure – The customer is free to choose the loan tenure in case of Personal Loan. It can be one year to 5 years. Besides that, the banks provide the facility of foreclosure as well. But there are some penalty charges for the for-closure.
  2. Quick approval- The ICICI Bank provides quick approval of the personal loan. If you are eligible and have all the documents, then your loan will get an approval within 12 hours.
  3. No collateral required – It is also important to know that there is no need of any collateral in a Personal Loan. The Personal Loan is a collateral free loan. It is based on your salary and credit history.
  4. Easy repayment options – Furthermore the customer is free to choose the repayment options. It can be a Term Loan, Over Draft or EMI.
  5. Fixed and reducing interest rates – Also the customer is free to choose fixed or reducing the interest rate.
  6. Multi-purpose loan – The personal loan is also known as a multipurpose loan. You can use this loan for any purpose. It can be a wedding, vacations, business, medical or any other personal need.

ICICI Bank Personal Loan Eligibility

Personal Loan does not apply to everyone, and there are some eligibility criteria on the basis of which bank provides a loan to the applicant. There are two categories of applicants:

  1. Salaried
  2. Self-employed

There are different eligibility criteria for both applicants.

Salaried Applicant:

  1. The minimum age of the applicant should be 21years and maximum up to 60 years.
  2. If the applicant is residing in a metropolitan city, then they should have a minimum income of Rs 18,000. And if the person is from a non-metropolitan city, then they should have a minimum salary of Rs 12,000.
  3. The applicant should have the work experience of the last three years, and the salary should come in their account only.
  4. The applicant must have a good credit history, and credit score should vary between 650 to 700.
  5. The applicant must have to submit their bank statement of the last three months and the salary slip of the last six months.

Self-employed Applicant:

  1. The minimum age of the applicant should be 25 years and maximum up to 65 years.
  2. The applicant should file ITR for the last three years.
  3. The credit score of the applicant should be good, and no debt should be left due.
  4. The ITR which the applicant files should be of Rs 2.5 lakhs per annum at least.
  5. And the applicant has a business than his business should be running from the last three years.

ICICI Bank Personal Loan Documents

  1. One Identity proof is required. (Passport/Id card/voter card/driving license) It can be any one of them. Everyone easily has these documents, so there is no problem with the submission.
  2. Two passport size colored photos. (Applicant should not be wearing glasses)
  3. A passport can also be considered as your identity proof because a passport has a name, age, address and photograph of the customer. If you have a passport, then there is no need to bring your address proof separately. But the passport should not be expired.
  4. Bank statement of the last six months and salary slip of the previous three months needed.
  5. Residence proof can be the Aadhar card, voter card, and passport (Passport/Id card/voter card/driving license). Electricity and water bill for the last three months because these are the proofs that you are residing in that particular place.
  6. Driving license is also regarded as a proof of identity and residence proof because it contains the name, date of birth and a photograph of the customer. But the condition is that it should not be expired.
  7. Aadhar card provided by UIDAI that contains biometric details of the customers like age, date of birth and photograph of the individual. It can be considered as proof of your date of birth.
  8. PAN card is the permanent account number that is provided to the customers, and it prevents the financial frauds. So it is also considered as an identity/residence proof. Pan card is essential to document under KYC (know your customer) formality.
  9. Ration card is also considered as a residence proof because it provides enough information about the applicant.

ICICI Bank Personal Loan Interest Rate

Rates of interest provided by the ICICI Bank Personal Loan are quite affordable. It starts at 10.75 %.

ICICI Bank Personal Loan Tenure

Tenure is the time for which you have gotten to repay the loan. It can be one year to 5 years.

Pre-closure Charges

ICICI Bank applies some charges on the pre-closure of the personal loan. It is 4% of the outstanding balance.

Why Dialabank?

  1. Dialabank responds to the customer’s queries very quickly.
  2. Since the Dialabank is the first financial helpline, so there are no safety issues.
  3. Besides that, the interest rates are very low.
  4. Furthermore here you can compare the rates of interest with other banks too.
  5. You will get proper guidance for the personal loan here.
  6. If you apply on the, you will get a document pickup facility from your doorstep.

Who can't apply for ICICI Bank Personal Loan?

  1. An applicant whose age is less than 21 years can’t apply for a personal loan.
  2. An unemployed person can’t apply for a personal loan.
  3. A person is earning less than Rs. Fifteen thousand can’t apply for a personal loan.
  4. In metro cities, the salary of the applicant should be Rs. 18000 at least.
  5. A person with a bad CIBIL score cannot apply.
  6. A person who is self-employed but does not pay the ITR can’t apply for a personal loan.

About ICICI Bank

ICICI Bank or the Industrial Credit and Investment Corporation of India is one of the leading banks in the country as a provider of loans and investments. They are the second largest bank in India with a branch network of about 31,000 branches and as many as 10,486 ATMs installed all over the country. They have a global presence in nearly 19 countries at the present. The bank was awarded the Most Admired Infrastructure Debt Financer in the country. There has been a near 17% in the provision of finances to the people. The bank made a near profit of about 30% for this quarter. The bank is a pioneer in mobile banking and is trying to provide the best services to the people

Q. What is the maximum amount of Personal loan that can be approved?

A. Loan amount offered by is up to Rs 20 Lakh.

Q: Are there any foreclosure charges for Personal Loan?

A. Yes, there are foreclosure charges in ICICI Bank. 

Q: How much time it takes for the approval of Personal Loan?

A: It takes 72 hours to get personal loan approval in ICICI Bank.

Q: Does ICICI Bank provides top up on existing loans?

A: Yes ICICI Bank provides the top up facility on existing loans.

Q: What is the Interest Rate offered by the ICICI Bank for the Personal Loan?

A: Personal Loan rates vary from 10.75% to 22.00% per annum; it depends on the Applicant’s profile, CIBIL score, and financial history.

Q: What is the Loan Repayment Tenure?

A: ICICI Personal Loan has a tenure of 1-5 years. The applicant is free to choose the loan tenure

Q: How can you repay a Personal Loan?

A: You can repay the Loan in the form of EMIs. 

Things you must do before applying for a Personal Loan

  1. First of all visit .

  2. After that, check Personal Loan Eligibility online.

  3. After that, if you are eligible to apply for Personal Loan then check Personal Loan Documentation.

  4. Besides that checking Personal Loan Interest Rate is also very important.

  5. You can do every possible research at home before applying for a Personal Loan, even you can calculate your EMI’s using EMI Calculator Online.

Other Personal Loan Providers

HDFC Bank Personal Loan YES Bank Personal Loan
Allahabad Bank Personal Loan Axis Bank Personal Loan
Andhra Bank Personal Loan Federal Bank Personal Loan
Kotak Bank Personal Loan Bajaj Finance Personal Loan

Other leading personal loan providers (Click to Apply)

HDFC Personal Loan

Axis Bank Personal Loan

PNB Personal Loan

SBI Personal Loan

Bandhan Bank Personal Loan

Bank of Baroda Personal Loan

Fullerton India Personal Loan



Reminder Services EMI Calculator Personal Loan Interest Rates


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