ICICIDirect offers Car Loans through ICICI Bank upto 20 Lacs, Personal Loans are the best way to meet your expenses during an emergency or fund any unplanned situation in life. Whether you are planning your next dream vacation with your loved ones or want to get funds for our child’s marriage, a Personal Loan offers double benefits of quick access to funds and zero need for collateral. Personal Loans have emerged as a great way to finance purchases that otherwise would have been challenging with a regular paycheck. For those who are looking for an instant Personal Loan online, we have great offers for Personal Loans.
Features & Benefits
- Get cash in your account in 3* seconds
- The interest rate will not increase during your loan tenure
- Minimal documentation
- Choose your tenure from 12 to 60 months
*Applicable for select customers upon completion of online verification and acceptance of the final offer
LOAN AMOUNT (In Lacs)
TENURE (In Months)
RATE OF INTEREST(Per Annum)
Total interest payable
The best thing about a personal loan is that you don’t have to limit the use of funds for a specific purpose, unlike a home or car loan. Some of the most popular types of personal loans where the money can be used to great effect are:
Need urgent cash for venue booking, catering, jewellery, shopping, or guest accommodation? Then it makes total sense to go for a wedding loan. Focus on the biggest day of your life while being adequately prepared for it financially with ICICI Bank Personal Loan.Know more...
Need urgent cash for venue booking, catering, jewellery, shopping, or guest accommodation? Then it makes total sense to go for a wedding loan. Focus on the biggest day of your life while being adequately prepared for it financially with ICICI Bank Personal Loan.
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Spruce up the look of your abode, carry out vital repairs or get new home furniture, furnishings or fixtures the
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No place is out of the reach of your loved ones, when our personal loans are with you. Take your much needed
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Who says that your first salary cannot make you eligible for a personal loan? With ICICI Bank Fresher Funding Loan,
NRI Personal Loan
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NRI Personal Loan
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Top Up Loan
Need more money to support your existing ICICI Bank Personal Loans? Opt for top-up loans at attractive rates andKnow more...
Top Up Loan
Need more money to support your existing ICICI Bank Personal Loans? Opt for top-up loans at attractive rates and
|Type of credit facility||Type of credit facility|
|Personal Loan Interest Rates||11.25% to 22.00% per annum|
|Loan Processing Charges / Origination Charges (NonRefundable)||Upto 2.25% of loan amount plus GST|
|Prepayment Charges||5% on principal outstanding plus GST|
|Additional Interest on late payment||24% per annum|
|Repayment Mode Swap Charges||₹ 500/- per transaction plus GST|
|Loan Cancellation Charges||₹ 3000/- plus GST|
|^EMI Bounce Charges||₹ 400/- per bounce plus GST|
Specific interest rate applicable to a customer would be dependent on segment, asset category and location. ICICI Bank reserves the right to revise the rate of interest and processing fee from time to time, at its sole discretion. GST and other govt. taxes, levies, etc. applicable as per prevailing rate will be charged over and above these charges at the discretion of ICICI Bank ltd.
The charges or fees given in above table are subject to change and the one recorded in agreement will be binding over this site. ^Effective for loans availed from August 1st, 2009. For loans availed prior to the said date, the cheque return charge is ₹ 200 + applicable GST Current GST applicable is 18.00% with effect from July 01, 2017. Auto Debit Bounce charges: Rs. 50 + GST#
#Amount will be debited from your savings account.
- Prepayment of the loan is possible any time during loan tenure subject to payment of standard pre-closure charges of 5% + GST
- The waiver, if any, of the prepayment charges will be applicable provided:
- The customer has paid 12 or more EMIs and
- The pre-payment of the loan is done using customer’s own funds (Waiver on pre-payment charges is not applicable in cases of balance transfer)
- Facility of part pre-payment is not available.
PERSONAL LOAN FAQ
What is a Personal Loan?
Personal Loan is an unsecured loan given to individual/s basis on income drawn & existing obligations subject to Cibil & Other T&C.
What purpose can I use my availed Personal Loan?
A home loan or car loan will allow you to use the money to purchase a home or car respectively, but when you apply for personal loan, it need not be restricted to a specific use. Once the loan is disbursed, you can use it for any purpose as per your particular need.
With a personal loan, you can:
- Arrange for holidaying overseas
- Buy a dream appliance like refrigerator, television or laptop
- Plan your marriage function as per your expectations
- Spruce up your home interiors through home renovation.
Who can be funded under Personal loans?
Any Salaried individual/Government Entities/Armed Forces/Pensioner with Co-applicants / Salaried NRIs with local co-applicant & any Salaried Doctors with ICICI Bank Corporate Salary account or other Bank Salary account meeting salary norms can be funded under Personal loans.
What are the loan tenure options for Personal Loan?
The loan can be repaid over a period of 12 to 6months
What is the loan amount that can be sanctioned?
You can avail of loans ranging from Rs. 50,000/- to Rs. 25,00,000/- depending on your eligibility, income, repayment capacity, employer category and your relationship with ICICI Bank, the final loan amount is decided.
How much time will it take for my loan to be approved for Personal Loan?
Loans are approved within 72 hours of submission of complete documentation.
Do I have to pay any additional charges for Personal Loan?
A processing fee Up to 2.25% of Loan Amount Plus GST is levied on loan, basis the defined pricing matrix followed by the bank. This fee will be deducted from the disbursal amount payable to you.
What are the Interest Rates for Personal Loan?
Personal Loan interest rates are applied basis the defined pricing matrix followed and standardised by the bank as per customer’s profile. Personal Loan rates vary from 11.25% to 22.00% per annum.
What is the eligibility for ICICI Bank Personal Loan?
There are different criteria based on which one’s eligibility is decided. On a broader norm will depend upon the Net Take Home Salary (NTH), Customer profile, Repaying Capacity & your existing monthly obligations.
What are the required documents under each program?
The documents required are KYC Documents & Income Documentation (Includes Bank Statements)
Is there any security or guarantor required for availing ICICI Bank Personal Loan?
No. ICICI Bank Personal Loan doesn’t require any collateral or security guarantee.
Do you offer Balance Transfer facility in Personal Loan?
We offer Balance Transfer Facility if you have paid 12 EMI.
Do you offer Top-up on existing Personal Loans?
We offer Top-up facility if you have paid 6 Equated Monthly Instalments (EMIs) on the existing Personal Loan.
Can I get a Personal Loan for business purpose?
Yes. We offer Personal Loan for business purpose, to self-employed individuals as well (Under BIL)
How can I prepay my Personal Loan as I am unable to visit branch?
In case you are unable to visit our branch for prepayment of your loan, you can send your representative along with an authority letter duly signed by the loan applicant, for payment. The co-applicant or third party visiting the branch for closing the loan needs to carry the documents mentioned below:
- Main applicant Identification proof (Driving License or Passport or Voters card or PAN Card)
- Authorisation letter from main applicant.
What is the procedure to prepay my Personal Loan?
For prepayment of your Personal Loan, please visit the nearest ICICI Bank Asset Servicing Branch. We request you to carry the following documents to complete the process:
- Request Letter signed by the loan applicant
- PAN Card (if the mode of payment is cash and the amount is more than Rs 50,000)
- Payment can be made through cash, cheque or demand draft.
How do I repay the Personal loan?
You can repay the loan in Equated Monthly Instalments (EMIs). If you have an ICICI Bank Account, you can mandate us to directly debit the same through auto debit mandate or if you have an alternate bank account, then through NACH mandate.
Can I pre-close or pre-pay my Personal Loan?
Yes. You can pre-close or pre-pay your Personal Loan by paying the applicable pre-closure charges after payment of Six Equated Monthly Instalment (EMI). Currently, the applicable pre-closure charge is 5% of the outstanding loan amount (plus applicable tax).
How do I update my mailing address, mobile number or e-mail ID registered under my loan account?
You may update your mailing address, mobile number or e-mail ID with below:
- At any ICICI Bank branch:
- Visit any ICICI Bank loan branch with a valid photo ID proof and submit an application.
- At any ICICI Bank branch: