ICICI Personal Loan

Often what you need to make things easier is the little something extra. With an ICICI Bank Personal Loan, you can make your dream come true. Now, the much desired holiday is no longer a vision, you can turn it into a reality-relatively simple and quick! With an ICICI Personal loan, the perfect gadget or the lavish wedding or even emergency cash fund is within your grasp now.


Multi-purpose loan: The personal loan of ICICI Bank is multi-purpose in the sense that the way you can use the amount of your loan is not limited. For home improvement or renovation, the perfect vacation, the purchasing of electronics, the education of your children, your child’s marriage, and working capital for your company, a medical emergency, or any other cause, you may use your ICICI Personal Loan.

Loan Amount: For salaried workers, up to Rs.30 lakh for self-employed professionals and up to Rs. 40 lakh for physicians, ICICI Bank provides loans of up to Rs. 20 lakhs.

Fixed rate of Interest: The interest rate is fixed, and is charged on reducing monthly basis.

Flexible tenures, EMI and Payment Options: Select from tenures ranging from 12 months to 60 months. You will pay in simple instalments for the loan. From a selection of easy repayment choices, you can choose:

  • Standing auto-debit instruction from your current ICICI account.
  • Via ECS ( Electronic Clearing System)
  • PDC ( Post-dated cheques)

No security, no collateral: To receive an ICICI Personal Loan, absolutely no collateral or security is needed.

Documentation: The documentation is straightforward and simple.

Get funds in 72 hours in your bank account: A personal loan might provide you with the much-needed respite from a financial crunch. In such situations, it is a relief to quickly disburse the loan amount. The amount of the loan is disbursed, subject to terms and conditions, within 72 hours of document submission.

Online application facility: At the comfort of your home, you can apply online. In order to plan your finances more effectively and check what kind of loan you can afford, you can use ICICI Bank’s EMI Calculator. To determine if you are eligible for an ICICI Bank personal loan, you can also use the eligibility calculator.

Interest rates: Interest rates on your personal loan start at 11.49 percent. Interest rates will adjust at any time and, depending on their credit score and repayment history and the bank’s internal policies, will differ with each borrower.


For salaried employees

  • Criterion of age: 23 years of age minimum and 58 years overall.
  • Minimum Net salary:
  • For applicants residing in Mumbai & Delhi: INR 25,000.
  • For applicants residing in Chennai, Hyderabad, Bangalore, and Pune& Kolkata: INR 20,000.
  • For applicants residing in other cities: Minimum monthly income INR 17,500
  • Total years in Job/profession: Two years.
  • Total years in current residence: One year

For the self- employed:

  • Age requirement: Minimum 28 years of age (for doctors25 years of age) and maximum 65 years of age.
  • Minimum profit after tax: Rs. 2 lakhs as per the latest audited financials for Proprietorship Firm / Self-employed individuals and Rs. 1 lac for non-professionals.
  • Stability: For at least 5 years in the same company (minimum 3 years for doctors).


For the salaried:

  • Proof of Identity: Passport / Driving License / Voters ID / PAN Card (any one document to be submitted).
  • Proof of Residence: Leave and License Agreement / Utility Bill (not more than three months old) / Passport (any one document to be submitted).
  • Last 3 months bank statement.
  • Salary slips for last 3 months.
  • At least 2 passport size photographs

For the self-employed:

  • Proof of Identity.
  • Proof of age: Birth Certificate etc.
  • Proof of Residence: Leave and License Agreement / Utility Bill (not more than 3 months old) / Passport.
  • Income proof: (audited financials for the last two years).
  • Latest 6 months bank statement.
  • Office address proof.
  • Proof of residence or office ownership.
  • Proof of continuity of business.


Interest Rate: Interest rates range from 10.99% to 17.99% p.a., depending on the credit score of the customer, credit background, bank relationship, and internal policies of the bank. At any time, interest rates can change.

Processing fee: Processing fee: From Rs. 999/-Up to 2.0 percent of the sum of the loan and applicable service tax.

Prepayment fee: Up to 5 percent of principal outstanding per annum plus service charge.

Late Payment fee:24% annually plus service taxes.

Foreclosure Statement Charges: If you intend to repay your loan balance in full before the end of the loan term. After paying 6 EMIs with 5 percent prepayment charges applicable, ICICI Bank makes personal loan prepayment.

Loan Cancellation Charges: Rs. 3000/- plus service taxes.

EMI Bounce Charges: Rs. 400/- per bounce plus service taxes.

It is only possible to pre-pay the loan upon payment of a minimum of 6 EMIs of the current loan. Prepayment charges are 5% of the loan that is outstanding.

There is no part-prepayment facility available.


You can apply for an ICICI Personal Loan in the following ways:

  • Apply online from the convenience of your home.
  • Send an email to the ICICI Customer Care Center.
  • Call the ICICI Customer Care Center.
  • Visit the Help Desk at your nearest ICICI Bank branch.