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Introduction

A personal loan from ICICI Direct can help you take control of your finances. From consolidating your debt, home improvement or renovation, financing repairs, emergencies and more, our wide range of long products can help you plan for both the expected and unexpected.

Choose our personal loan solution at low-interest rates based on your net income, profile, repayment capacity and current monthly obligations.

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

Wedding Loan
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Home Renovation Loan

Home Renovation
                                            Loan
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Holiday Loan

Holiday Loan
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Fresher Funding

Fresher Funding
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NRI Personal Loan

NRI Personal Loan
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Top Up Loan

Top Up Loan
  • Loan Calculator

  • EMI Comparison calculator

LOAN AMOUNT

INTEREST RATE

LOAN TERM (Years)

Existing Loan

LOAN AMOUNT

INTEREST RATE

LOAN TERM (Years)

Balance Transfer Loan

LOAN AMOUNT

INTEREST RATE

LOAN TERM (Years)

Emi Savings
Total Interest Savings
Total Payment Savings
Existing Loan
Balance Transfer Loan

Features & Benefits

Personal Loan

Requires minimal documentation

Personal Loan

Offers collateral-free loans

Personal Loan

Choose tenure between 12-60 months

Personal Loan

No increase in interest rate during loan tenure

Personal Loan

Get cash in account almost instantly

Personal Loan

Personal Loan Interest Rate – 10.5% onwards

Personal Loan

Processing fees – upto – 2.25% of loan value

Eligibility Criteria

Personal loan documents

CRITERIA

  • Age Salaried 23 - 58 year
  • Total years in job/profession - 2 years
  • Years in current residence - 1 year
Personal loan documents

SALARIED

  • 10.5%* onwards per annum
  • Salaried individuals with minimum net salary of Rs 35,000.
  • No collateral Loan
  • Interest rate may vary as per Cibil Score

FAQs

Personal Loan is an unsecured loan given to individuals basis the income drawn and existing obligations, subject to Cibil and other terms and conditions.

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 a 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.

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.

The loan can be repaid over a period of 12 to 6 months.

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.

Loans are approved within 72 hours of submission of complete documentation.

A processing fee of 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.

Note:

*Interest Rates and Processing Fees depend upon segment, category & Location. Prepayment charges - 5% on principal outstanding, Additional interest rate on late payment - 24%, EMI Bouncecharge - Rs 400 per bounce, Loan cancellation charges - Rs 3000 , Mode Swap charges - Rs 500 per transaction. GST applicable over and above the charges. Rates are subject to change as per ICICI Bank Terms and Conditions

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