ICICI Bank is a leading provider of personal loans in India, offering competitive interest rates starting at 10.85% p.a. and flexible tenures of up to 6 years. With loan amounts of up to ₹50 lakh, ICICI Bank personal loans cater to a wide range of financial needs, including quick cash flow through pre-approved loans disbursed in just 3 seconds.
Here’s an in-depth look at ICICI Bank’s personal loan offerings, eligibility criteria, interest rates, and more.
Why Choose ICICI Bank Personal Loan ?
ICICI Bank stands out for its diverse personal loan products and customer-centric features :
- Competitive Interest Rates : Starting at just 10.85% p.a.
- High Loan Amount : Borrow up to ₹50 lakh based on eligibility.
- Flexible Tenure : Choose a repayment term between 1 to 6 years.
- Quick Approvals : Pre-approved loans for select customers within seconds.
- Balance Transfer Facility : Transfer existing loans to ICICI Bank at lower rates.
- Overdraft Option : Salary account holders can access short-term funds via FlexiCash.
ICICI Bank Personal Loan Highlights
- Interest Rates: 10.85%–16.25% p.a.
- Loan Amount: Up to ₹50 lakh
- Tenure: 1–6 years
- Processing Fee: Up to 2% of the loan amount
- Minimum Monthly Salary: ₹30,000
- Prepayment Charges: 3% of the principal (after first EMI), with conditions for waivers.
ICICI Bank Personal Loan : Key Highlights Table
Types of ICICI Bank Personal Loans
1. ICICI Bank FlexiCash
- Purpose: Short-term credit for salary account holders.
- Processing Fee: ₹1,999 + taxes.
2. Personal Loan for NRIs
- Loan Amount: Up to ₹10 lakh.
- Tailored for the financial needs of Non-Resident Indians.
3. Pre-Approved Personal Loan
- Loan Amount: Up to ₹50 lakh.
- Tenure: 1–5 years.
- Available for select ICICI Bank customers.
4. Personal Loan Top-Up
- Loan Amount: ₹50,000–₹25 lakh.
- Purpose: Additional funds on an existing loan.
5. Balance Transfer Facility
- Benefits: Lower interest rates when transferring loans from other banks or NBFCs.
6. Fresher Funding
- Loan Amount: Up to ₹1.5 lakh.
- Designed for new employees and freshers.
ICICI Bank Personal Loan Interest Rates
| Loan Product | Interest Rate (p.a.) |
| Standard Personal Loan | 10.85%–16.25% |
| FlexiCash Overdraft | 12.35%–14.10% |
| Personal Loan for NRIs | 10.80% onwards |
Eligibility Criteria for ICICI Bank Personal Loan
For Salaried Individuals
- Age: 23–58 years.
- Monthly Income: ₹30,000 minimum.
- Work Experience: At least 2 years.
- Residence Stability: Minimum 1 year at the current address.
For Self-Employed Individuals
- Age: 28–65 years (25 years for doctors).
- Business Turnover: ₹40 lakh (non-professionals) or ₹15 lakh (professionals).
- Profit After Tax: ₹2 lakh for proprietors; ₹1 lakh for non-professionals.
- Business Stability: 5 years, or 3 years for doctors.
Documents Required
For Salaried Individuals
- Identity Proof: PAN, Passport, Driving License, or Voter ID.
- Address Proof: Utility bill, Rent Agreement, or Passport.
- Income Proof: Last 3 months’ salary slips and bank statements.
For Self-Employed Individuals
- KYC Documents: PAN, Aadhaar, or Passport.
- Business Proof: Office ownership documents or rent agreement.
- Income Proof: Audited financials, bank statements for 6 months.
ICICI Bank Personal Loan Charges
- Processing Fee: Up to 2% of the loan amount + GST.
- Prepayment Charges: 3% on the outstanding principal (conditions apply).
- Loan Cancellation: ₹3,000 + GST.
- Penal Interest: 24% p.a.
- EMI Bounce Fee: ₹400 + GST per instance.
ICICI Bank Personal Loan EMI Calculator
Use the EMI Calculator to estimate your monthly repayments:
- Loan Amount: ₹5,00,000
- Interest Rate: 10.85% p.a.
- Tenure: 5 years
- Monthly EMI: ₹10,746.95
- Total Repayment: ₹6,44,817 (includes interest).
How to Apply for ICICI Bank Personal Loan
- Online: Apply via the ICICI Bank website or iMobile Pay app.
- Branches: Visit your nearest ICICI Bank branch.
- Third-Party Platforms: Use platforms like Paisabazaar for comparisons and applications.