ICICI Personal Loan Key Features
For salaried – 23 to 58
For self-employed – 28 to 65
Minimum 750 or above
11.25% – 21.00%
|Additional Interest on Late Repayment||24% p.a.|
12 to 60 months
2.25% of loan amount + GST
5% of the loan amount
|Part Payment Charges||
Allowed after 12 Months (2 – 4 %)
|Minimum Loan Amount||Rs. 50,000|
|Maximum Loan Amount||Rs. 20 Lakh|
Each Feature Explained in Detail Below
ICICI Personal Loan Eligibility Criteria
The eligibility criteria for a personal loan are as follows:
excellent score, i.e. 750+
For salaried – 23 to 58
For self-employed – 28 to 65
For salaried – Rs. 30000 per month
For self-employed – Rs. 15 lakhs per year
Number of years in job/ business
Salaried – 2 years
Self-employed – 5 years
ICICI Personal Loan Interest Rate, Fees & Other Charges
11.25% – 21.00%
Up to 2.5% of the Loan Amt
|5% + GST|
As per state laws
Cheque Bounce Chgs
Rs. 400/chq + GST
Floating Rate of Interest
Overdue EMI Interest
2% p.m.(on overdue amount)
ICICI Personal Loan Documents Required
Duly filled application form
Proof of Identity
> Driving License
> Aadhar Card
> Voter ID Card
Proof of Address
Rent Agreement (Min. 1 year of stay)
Passport (Proof of permanent residence)
Proof of Income
> ITRs: Last two Assessment years
> Salary Slip: Last 6 months
> Bank Statement: Last 3 months
Personal Loan EMI Calculator for ICICI Bank
ICICI Personal Loan Comparison with Other Banks
|Particulars||ICICI Bank||Bajaj Finserv||Axis Bank||Citibank||HDFC Bank|
|Interest Rate||11.25% to 21.00%||Starting from 12.99%||15.75% to 24%||Starting from 10.99%||
11.25% to 19.50%
|Tenure||12 to 60 months||12 to 60 months||12 to 60 months||12 to 60 months||
12 to 60 months
|Loan amount||Upto Rs. 20 lakh||Up to Rs. 25 lakh||Rs. 50,000 to Rs. 15 lakh||Up to Rs. 30 lakh||
Upto Rs. 40 lakh
|Up to 2.25% of the loan amount plus GST||Up to 3.99% of the loan amount||Up to 2% of loan amount plus GST||Up to 3% of the loan amount||
Up to 2.50% of loan amount plus GST
Other Loan Products from ICICI
|ICICI Gold Loan||ICICI Car Loan||ICICI Home Loan||ICICI Business Loan|
|ICICI TWL||ICICI LAP||ICICI Credit Card||ICICI Education Loan|
Why should you apply for ICICI Personal Loan with Dialabank?
- Our motto here at Dialabank is ‘make things simple’. We help bring every information related to ICICI Personal loan in a detailed and easy-to-understand manner.
- We don’t charge you for our services.
- We help you avail of the best features available.
- We help you apply for an ICICI Personal loan without any hassle through our website.
- We offer document pick-up facility from your doorsteps.
- We offer a personalized service. You can call us in case of any queries.
Call us at 9878981166 to avail of ICICI Personal Loan.
How to Calculate EMIs for ICICI Bank Personal Loan
To calculate your EMIs for the ICICI Bank Personal Loan, just enter all the values such as the principal loan amount, tenure in months, and the rate of interest. Enter any extra charges such as prepayment charges and processing fee. The calculator will give you the exact monthly payable amount. This will help you plan your repayment.
ICICI Personal Loan Processing Time
Your ICICI Bank Personal Loan takes about half a month to be processed and disbursed. However, if you are already a customer and your personal loan is pre-approved or applied for online, your loan can be processed in seconds. The bank charges a processing fee of just 2.25% of the loan amount + GST.
ICICI Personal Loan Preclosure
Prepayment means repaying a part of your loan before the tenure ends, while foreclosure means repaying your entire loan amount lump sum before the tenure ends. ICICI Bank allows you to prepay or foreclose your personal loan after payment of 6 EMIs with a foreclosure charge of 5% of the outstanding loan amount.
Pre Calculated EMI for Personal Loan
ICICI Personal Loan for Salaried Employees
ICICI offers personal loan for Salaried employees at attractive interest rates. The employees need to have a minimum net income of Rs. 30000 per month and should be employed for at least 2 years in total and for 1 year in the existing job. The personal loan offers easy repayment options, thus enabling the salaried employees to fulfil any of their personal requirements without them becoming a burden on their finance.
ICICI Personal Loan for Self Employed Individuals
ICICI Bank Personal Loan for Self Employed is a loan product to the self-employed professionals for a tenure of 1 year to 5 years. The applicants should be aged between 28 to 65 years and should have a minimum annual turnover of Rs. 15 lakhs. Self-employed professionals also have to submit more documents than Salaried employees, but they can avail of a loan amount up to Rs. 20 lakhs. Thus, a personal loan is very useful for them.
ICICI Doctor Loan
ICICI Bank offers special personal loans to doctors. Doctors can avail of a personal loan from the age of 25 years as opposed to 28 years for other self-employed professionals, and the business stability for doctors should be only for 3 years as opposed to 5 years for others. Doctors can avail of this loan as a solution for any of their financial problems and emergencies.
ICICI Marriage Loan
ICICI offers Personal Loan for Marriage to people who need to pay for any wedding-related expenses or any wedding functions. This personal loan for marriage can be used for anything and helps you fund a wedding without it being a burden on your financial condition. The loan, if pre-approved, can be disbursed on the same day. You can apply for it online.
ICICI Personal Loan for Government Employees
ICICI Personal Loan for Government Employees is very useful for people working in government agencies and are offered at low-interest rates, starting at just 11.25% per annum. These loans can be availed of with other special offers and a quick disbursal. The bank does not charge any processing fee in case a loan is availed of by Defence Personnel. This loan can be applied for online through Dialabank or in person by visiting the nearest bank branch.
ICICI Personal Loan for Pensioners
The ICICI Personal Loan for Pensioners can be availed of by retired employees of Central Government, State Government and Defence Forces. The bank offers many attractive features when it comes to Personal Loan for Pensioners such as:
- Minimum Pension Amount – 25000
- 50% of extra income (FD interest rental income, etc.) can be counted as Actual Income
- Low-interest rates
- Tenure starting from 12 months
ICICI Personal Loan Balance Transfer
Personal Loan Balance Transfer refers to a process where you shift your entire outstanding personal loan amount from one lending institution to another. You can avail of this option if the repayment in the current personal loan terms is becoming a burden for you and some other lender is charging you lower interest rates and offering some other features as well. To transfer your loan balance, you will just have to pay the foreclosure fee to the existing lender (only on fixed interest rates) as well as the processing fee to the new lender.
The process of balance transfer with ICICI bank is extremely easy.
ICICI Personal Loan Top Up
You can avail of the personal loan top up facility from ICICI Bank if you want to borrow an additional loan amount after the tenure ends. The top-up facility can easily be applied for if you were regular in your EMI Payment. ICICI Personal Loan top-up can be availed of with quick disbursal and no collateral requirement for a maximum amount equal to the original loan amount.
How to Apply Online for ICICI Bank Personal Loan?
To apply for an ICICI Bank Personal Loan online, you can visit its online portal or download its mobile app. To apply through Dialabank:
- Visit our website.
- Click on personal loan option on the menu.
- Fill up the form with your details.
- We will shortlist offers for you and mail them to you.
- We will then call you and assist you further.
- Thus, you can avail of the best personal loan offer in record time.
ICICI Personal Loan Status
To check the status of your ICICI Bank Personal Loan, you can:
- Visit the bank branch personally where you had applied for the loan and give the loan officer your loan application details
- Visit the website of ICICI Bank and fill in your loan details.
- Send your loan details to the bank via email.
- Through the I-mobile app of the bank
- These methods enable you to track your loan status easily.
FAQs About ICICI Personal Loan
✅ What is ICICI Personal Loan?
ICICI Personal Loan is a financial service offered to customers to fulfil any of their personal or professional requirements. This loan is very easy to avail of as you don’t need to give any of your precious capital as collateral. The loan interest rates start at just 11.25% per annum and can be repaid through many options.
✅ How does ICICI Personal Loan work?
The ICICI Personal Loan works in a simple manner. You can either apply in person by visiting any branch near you or online through the bank’s official website or the Dialabank website. You can apply for loan amounts up to Rs. 20 lakhs. Once your loan gets approved and sanctioned, it will be disbursed in just a few seconds of pre-approved customers and in a few hours for others. Charges such as the processing fee will be deducted from your loan amount.
✅ What is Personal Loan rate of interest in ICICI?
Personal loan rate of interest in ICICI varies from 11.25% per annum to 18% per annum with a repayment tenure of your liking ranging between 1 to 5 years. The interest rates can increase if you have an unstable low income or a low CIBIL score.
✅ What is the procedure of Personal Loan in ICICI?
The procedure to avail a personal loan with ICICI is hassle-free. You can apply for an ICICI personal loan by visiting the nearest branch with your documents, through an ICICI ATM, or using ICICI Loan Assist App. You can also contact and apply with Dialabank for easy processing and personalized assistance.
- To apply, first, check your eligibility.
- Collect the necessary documents
- Visit the nearest branch and apply for a loan for a specific amount.
- Deposit your documents.
- Sign an agreement.
- Your loan amount will be sanctioned.
✅ How can I get ICICI Personal Loan?
Getting Personal Loan from ICICI is a simple process as minimal documentation ensures a quick disbursement time. You just have to check your eligibility status and contact the bank either online or by visiting the nearest branch. After submission and verification of the required documents, the loan amount will be credited to your bank account within 4 hours.
✅ How to apply for Personal Loan in ICICI?
A personal loan is a security free loaning option to meet all your financial needs. You can apply for a personal loan with ICICI Bank with minimal documentation and get quick loan amount disbursal by visiting the nearest branch with your documents or filling an application online at ICICI Bank’s official website. You can also apply with Dialabank to avail of personalized assistance and get the best deals and offers.
✅ Why apply for ICICI personal loan?
ICICI Bank Personal loan is ideal for any of your financial problems or requirements. Once you apply for the loan, it can be disbursed in just a few seconds for pre-approved customers. You can avail of a loan amount from Rs. 20000 up to Rs. 50 lakhs, and repay it in any time between 12 to 60 months. You can choose your own tenure. The loans are offered at low-interest rates and low processing fee.
✅ How much EMI on ICICI Personal Loan?
EMI (Equated Monthly Installment) is the amount which you have to pay to the bank every month in an attempt to repay your personal loan. You can easily calculate your payable EMIs through the Dialabank EMI Calculator. The EMI amount depends on the loan tenure, principal amount and the interest rate.
✅ How much CIBIL score required for ICICI personal loan?
Your CIBIL score is a major factor involved in deciding your eligibility for a personal loan. HDFC requires you to have a CIBIL score in excess of 750 with 700 being the absolute lower limit. You can increase your CIBIL score by making timely payments of your EMIs and credit cards.
✅ Minimum credit score needed for ICICI personal loan?
A credit score is a powerful 3-digit number that shows how punctual you are in your loan repayment as a borrower. It is based on your earlier loan repayments. If you have a high CIBIL score, banks and NBFCs will be encouraged to offer you loans along with lower interest rates.
The minimum Credit score required for an ICICI Personal Loan is 750.
✅ How to calculate ICICI personal loan EMI?
EMI on ICICI personal loan can be calculated using the formula, E = P x R x [(1+R)^N] / [(1+R)^N-1] where,
P= Principal or your loan amount,
R= Rate of interest, and
N= Loan Tenure.
You can easily calculate your EMI online at Dialabank’s website for free and compare offers from different banks and finance companies.
✅ What can I use ICICI personal loan for?
An ICICI Personal Loan can be used for just about anything, from funding a wedding to paying medical bills, and to pay for someone’s education. It is not specific, like a vehicle loan or a home loan.
✅ Can I prepay ICICI personal loan?
When a borrower pays off their loan entirely or in part before the agreed due date, it is termed as prepayment or preclosure. ICICI Bank gives you the option to prepay your personal loan after you have paid at least 6 EMIs on time. You will be charged with a preclosure fee of up to 5% of your outstanding loan amount depending on the number of EMIs left to pay.
✅ How to prepay ICICI personal loan?
Steps to prepay your ICICI personal loan:
- Collect the required documents (PAN, Id proof, and any other loan documents)
- Visit your loan branch and ask for the balance and any pre-closure charges or penalties.
- You will be prompted to fill a form requesting the prepayment of the loan.
- Pay the prepayment amount (cash up to Rs.49000, Cheque, or DD) and take its acknowledgement.
- Your loan will be closed as soon as the bank receives the fund.
✅ How to repay ICICI personal loan?
You have the option of repaying your ICICI personal loan either by a standing instruction on your bank account to pay the EMI, online payment through different modes or through post-dated cheques given to the loan branch.
✅ How to repay ICICI personal loan online?
You can pay your personal loan EMI online in just 5 steps:
- Visit the payments page on ICICI Bank’s website.
- Click on ‘PAY ONLINE’ and enter your ‘Loan No.’ and ‘Date of Birth’.
- Select your net banker from the drop-down menu and click on PAY.
- You will be securely redirected to the bank payment interface of your chosen net banking option.
- Complete the payment, and you will receive an online transaction confirmation. You can also pay your HDFC personal loan on Paytm.
✅ What documents are needed for ICICI personal loan?
ICICI personal loan provides easy hassle-free personal loans with minimal documents. You will need your Aadhar card/Voter ID, PAN card, Bank statement of the last 3 months, and the latest salary slips/ITR file. For more information and personalized assistance, you can contact Dialabank’s financial helpline number.
✅ How to check ICICI personal loan status?
You have a number of options to check the status of your ICICI personal loan:
- Log In to the ICICI Netbanking Portal, Click on loans from the top ribbon and click on Enquire to check the status of your loan.
- Search for ‘personal loan status’ on Google, open the first link which will take you to the Loan Status Tracker webpage of ICICI Bank and fill the required information to check the status of your loan.
- You can also visit your loan branch and ask the banker for the same.
✅ How to get ICICI personal loan top up?
ICICI Personal Loan Top-up is the additional loan amount that can be taken from the existing bank of your running loan or at the time of balance transfer from your new bank. ICICI lets you avail this facility for a top-up of minimum ₹50,000 and a maximum of your already sanctioned loan amount. You can check the online portal of ICICI for more offers or contact Dialabank for any financial help.
Table of Contents
- 1 ICICI Personal Loan Key Features
- 2 ICICI Personal Loan Interest Rate, Fees & Other Charges
- 3 ICICI Personal Loan Documents Required
- 4 Personal Loan EMI Calculator for ICICI Bank
- 5 ICICI Personal Loan Comparison with Other Banks
- 6 Other Loan Products from ICICI
- 7 Why should you apply for ICICI Personal Loan with Dialabank?
- 8 How to Calculate EMIs for ICICI Bank Personal Loan
- 9 ICICI Personal Loan Processing Time
- 10 ICICI Personal Loan Preclosure
- 11 Pre Calculated EMI for Personal Loan
- 12 ICICI Personal Loan for Salaried Employees
- 13 ICICI Personal Loan for Self Employed Individuals
- 14 ICICI Doctor Loan
- 15 ICICI Marriage Loan
- 16 ICICI Personal Loan for Government Employees
- 17 ICICI Personal Loan for Pensioners
- 18 ICICI Personal Loan Balance Transfer
- 19 ICICI Personal Loan Top Up
- 20 How to Apply Online for ICICI Bank Personal Loan?
- 21 ICICI Personal Loan Status
- 22 FAQs About ICICI Personal Loan
- 22.1 ✅ What is ICICI Personal Loan?
- 22.2 ✅ How does ICICI Personal Loan work?
- 22.3 ✅ What is Personal Loan rate of interest in ICICI?
- 22.4 ✅ What is the procedure of Personal Loan in ICICI?
- 22.5 ✅ How can I get ICICI Personal Loan?
- 22.6 ✅ How to apply for Personal Loan in ICICI?
- 22.7 ✅ Why apply for ICICI personal loan?
- 22.8 ✅ How much EMI on ICICI Personal Loan?
- 22.9 ✅ How much CIBIL score required for ICICI personal loan?
- 22.10 ✅ Minimum credit score needed for ICICI personal loan?
- 22.11 ✅ How to calculate ICICI personal loan EMI?
- 22.12 ✅ What can I use ICICI personal loan for?
- 22.13 ✅ Can I prepay ICICI personal loan?
- 22.14 ✅ How to prepay ICICI personal loan?
- 22.15 ✅ How to repay ICICI personal loan?
- 22.16 ✅ How to repay ICICI personal loan online?
- 22.17 ✅ What documents are needed for ICICI personal loan?
- 22.18 ✅ How to check ICICI personal loan status?
- 22.19 ✅ How to get ICICI personal loan top up?