Personal loans

Choose from a wide array of loan products to fund unplanned or emergency personal expenses

With a personal loan, you can easily buy that latest TV/laptop or plan that long overdue vacation

You can avail a personal loan based on the salary drawn, customer profile, repaying capacity and existing monthly obligations. Once approved, you can use these funds for purposes ranging from planning your child's wedding to holidaying overseas with your loved ones. Purchases and expenses that would otherwise have been challenging on a regular pay check, can now be easily financed with the help of personal loan facility.

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Personal Loan Features and Benefits

  • Requires minimal documentation
  • Offers collateral-free loans
  • Choose tenure between 12-60 months
  • No increase in interest rate during loan tenure
  • Get cash in account almost instantly

Types of personal loan products

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:

Wedding Loan

Planning to get married? Worried about cash for jewellery, venue booking or shopping for your special day? Now you can simply avail a wedding loan from among ICICI Bank's range of personal loan options and be financially prepared to focus on big day.

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Wedding Loan

Planning to get married? Worried about cash for jewellery, venue booking or shopping for your special day? Now you can simply avail a wedding loan from among ICICI Bank's range of personal loan options and be financially prepared to focus on big day.

Home Renovation Loan

From replacing those old bathroom and living room fixtures to revamping the interiors, from the virtual repairs and flooring to the new furniture picks, you can have all that and more without worrying about how to fund it. Avail this personal loan product to give your home a renewed look.

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Home Renovation Loan

From replacing those old bathroom and living room fixtures to revamping the interiors, from the virtual repairs and flooring to the new furniture picks, you can have all that and more without worrying about how to fund it. Avail this personal loan product to give your home a renewed look.

Holiday Loan

This time, you can take that long overdue vacation with your friends and family. All you need to do is opt for the holiday loan product offered by ICICI Bank, and be rest assured that your travel expenses will be taken care of.

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Holiday Loan

This time, you can take that long overdue vacation with your friends and family. All you need to do is opt for the holiday loan product offered by ICICI Bank, and be rest assured that your travel expenses will be taken care of.

Fresher Funding

Worried about whether or not you can avail a loan with your first salary and that new job? Well ICICI Bank's Personal Loan offers a fresher funding loan product where you can get a hassle- free loan at attractive rate of interest.

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Fresher Funding

Worried about whether or not you can avail a loan with your first salary and that new job? Well ICICI Bank's Personal Loan offers a fresher funding loan product where you can get a hassle- free loan at attractive rate of interest.

NRI Personal Loan

Non-resident Indians can secure loans at attractive interest rates, to meet their financial needs. Such loans can be secured or unsecured ones, and can be used to fund either your personal needs like home renovation or weddings to emergency expenses like medical bills.

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NRI Personal Loan

Non-resident Indians can secure loans at attractive interest rates, to meet their financial needs. Such loans can be secured or unsecured ones, and can be used to fund either your personal needs like home renovation or weddings to emergency expenses like medical bills.

Top Up Loan

For those who need more money over and above their existing ICICI Bank personal loans, the top-up loan offering is available at attractive interest rates. This helps you meet your newer financial needs, and one can avail this provided he/she has paid six equated monthly installments (EMIs) on their existing personal loan.

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Top Up Loan

For those who need more money over and above their existing ICICI Bank personal loans, the top-up loan offering is available at attractive interest rates. This helps you meet your newer financial needs, and one can avail this provided he/she has paid six equated monthly installments (EMIs) on their existing personal loan.

Personal Loan Interest Rates

Type of credit facility RATES
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
NOTE:

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 Rs 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.

Documents Required for Personal Loan

Criteria Salaried
Age 11.25% to 22.00% per annum
Net Salary Salaried individuals with minimum monthly income Rs 17,500 (Rs 25,000 for applicants residing in Mumbai & Delhi; Rs 20,000 for applicants residing in Chennai, Hyderabad, Bangalore, Pune & Kolkata)
Total years in job/profession 5% on principal outstanding plus GST
Years in current residence 24% per annum
Criteria Self Employed
Age 28 years (self- employed individuals) and 25 years (for doctors); Maximum age - 65 years
Minimum Turnover Rs 40 lakh for non-professionals; Rs 15 lakh for professionals; as per audited financials
Minimum Profit After Tax Rs 2 lakh for Proprietorship Firm/Self- employed Individuals and Rs 1 lakh for non-professionals as per audited financials
Business Stability In current business for at least 5 years and minimum 3 years for doctors
Existing relationship with ICICI Bank Minimum 1 year liability relationship (current or savings account) or Asset relationship (loan) either live or closed in the last 36 months; repayment track as required
*The minimum salary requirement will differ depending on the profile (Type of employer, having relationship with ICICI Bank etc.) of the customer

Disclaimer:This is an indicative list only. Additional documents may be asked for on a case-to-case basis.

Personal Loan FAQs