Personal Loan facilities have always been instrumental in the structural functioning of a country’s economy like India where the institutional financial monetary network is dependent on the amount of credit flow and the subsequent processes that ensure its smooth countenance in the economy. Personal Loan facilities provide the borrower with the opportunity to encash on the country’s economic resources for their mutual benefit as the interest paid by them to the bank is a form of income for the bank and the loan facilities provided help in clearing out personal expenses like paying for college and school education and payment of medical bills at hospitals and nursing homes.
ICICI Personal Loan comes with the facility of attractive interest rates and zero collateral bonds and securities to be kept with the bank thereby ensuring its position as one of the prime lenders in the country. Attractive rates enthuse the borrowers to borrow more money and infuse and inject capital investment into the economy thereby bringing about monetary equilibrium and ensuring that the flow of goods and services is reciprocated by an equal money flow in consumption of goods and services. The personal loan facilities at ICICI provide the scope of submitting accurate documentation by the consumer in the form of income proofs, bank statements of the last few years and payment capability score which encourages the bank about the financial position of the borrower.
Therefore, ICICI Personal Loan helps in developing the credit infrastructure in the country, building a base for future economic prospects and bringing about qualitative and quantitative growth in the economic environment of the country. It is imperative to realize that personal loan facilities help in creating a perfect environment where consumers are encouraged to become borrowers and maintain a perfect and healthy relationship with the banking institutions in the country.