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Need additional funds to meet your expenses? Experience a revolution in personal lending with the Personal Loan app (iMobile Pay). With incredible features and benefits, it is a one-stop solution for all your financial needs.
Personal Loan applications and other banking transactions can be easily completed using the ICICI Bank iMobile Pay app. Select customers can avail Pre-approved Loans in the ‘Pre-approved Loans/Offers’ section. No documents are required to be submitted and the Loans are disbursed instantly.
Get instant Loans with ease. Download the Personal Loan app – iMobile Pay today!
Personal Loan App: Features & Benefits
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Apply for Personal loan with Ease
Follow these simple steps to download the Personal Loan App (iMobile Pay) and apply for an instant Personal Loan:
Step 1: Download the Personal Loan App and login using your MPIN or fingerprint
Step 2: Click on ‘Pre-Approved Loans/Offers’ and select ‘Pre-Approved Personal Loan’
Step 3: Select the Loan amount and tenure
Step 4: Validate all the details regarding your Loan
Step 5: Accept the Terms and Conditions by checking the box and click on ‘Disburse Now’
Step 6: Authenticate by providing the grid values on your Debit Card and then ‘Submit’.
No Pre–Approved offer? No issues! You can apply for a Personal Loan of up to Rs 50 lakh through the iMobile Pay App. Keep your Aadhaar Card and PAN Card handy to know the best eligible offer. Click here to apply.
Personal Loan App: FAQs
Download the Personal Loan App (iMobile Pay), create an Account, provide the necessary information and then submit your application. If approved, the Loan amount will be disbursed directly into your Bank Account.
ICICI Bank iMobile Pay app is your comprehensive solution for getting an instant Loan with ease. Download, apply and get the Loan approval within minutes.
You can apply for a Personal Loan by following these steps: Login to iMobile Pay > Click on ‘Offers’ > Click on ‘Apply Now’. You will be redirected to a fresh page where you can apply for a Personal Loan by providing the required information.
ICICI Bank prioritises the security of your personal and financial information. The iMobile Pay app has advanced security measures to ensure your data is protected.
Interest Rates
Type of Credit Facility |
Details |
Personal Loan interest rates |
10.80% to 16.15% per annum |
Prepayment charges |
a. 3% on principal outstanding amount. b. Nil after 12 EMIs paid. c. For Business Loans (BIL/BL) <=50 Lakhs i.e. Booked under code ‘UP’, the FC to be considered as “NIL” if first EMI is paid. This is applicable only for Micro and Small enterprises only (subject to URC submission) and not for Medium enterprises. |
Additional interest on late payment |
5% Per Annum will be charged on the overdue EMI until repayment. |
Repayment mode swap charges |
₹ 500 per transaction plus applicable taxes |
Loan cancellation charges |
a. NIL Cancellation within Free Look / Cooling off period (i.e. 15 days from Disbursement). PF will be Non Refundable. b. Cancellation post cooling Period & Before 1 EMI date (i.e. from 16th day till 1st EMI date) - Proportionate APR to be considered with max capping of ₹3000 /- (applicable for Digital Lending) c. Cancellation Fee of ₹. 3,000/- (applicable other than Digital Lending) |
EMI bounce charges |
₹ 500 per bounce plus applicable taxes |
Charges
Types of Charges |
Amount |
Prepayment / Foreclosure charges |
a. 3% on principal outstanding amount. b. Nil after 12 EMIs paid. c. For Business Loans (BIL/BL) <=50 Lakhs i.e. Booked under code ‘UP’, the FC to be considered as “NIL” if first EMI is paid. This is applicable only for Micro and Small enterprises only (subject to URC submission) and not for Medium enterprises. |
Cheque/ AD/ ECS bounce charges |
₹ 500 |
Late payment charges |
5% Per Annum will be charged on the overdue EMI until repayment. |
Loan processing charges |
2.5% of loan amount |
Repayment mode swap charges |
₹ 500 |
Loan cancellation charges |
a. NIL Cancellation within Free Look / Cooling off period (i.e. 15 days from Disbursement). PF will be Non Refundable. b. Cancellation post cooling Period & Before 1 EMI date (i.e. from 16th day till 1st EMI date) - Proportionate APR to be considered with max capping of ₹3000 /- (applicable for Digital Lending) c. Cancellation Fee of ₹. 3,000/- (applicable other than Digital Lending) |
Salary Overdraft (Processing fee) |
0.99% of limit amount subject to a minimum of ₹ 1,999 and a maximum of ₹ 2,999 |
Salary Overdraft (Annual renewal fee) |
₹ 1,999 |
Disclaimer: Personal Loan interest rates and charges vary with eligibility, credit score, income, employment status and repayment period. Visit ICICI Bank Personal Loan interest rates page for more details.
Eligibility to avail a Personal Loan from the app:
- Applicants must fall within the age range of 20 to 58 years to be eligible for a Personal Loan.
- Salaried individuals applying for the loan should have a minimum monthly income of ₹ 30,000.
- Applicants must have at least 2 years of work experience to qualify for a loan.
- Applicants should be residing at their current address for at least 1 year.
Note: The minimum salary requirement is flexible and may vary based on factors such as the type of employer and the applicant's relationship with ICICI Bank.
The below mentioned documents are required while applying for a Personal Loan from the app:
Identity proof documents:
A copy of a Passport, Voter ID Card, Driving Licence, or Aadhaar Card is accepted as valid ID proof.
Address proof documents:
A copy of a Passport, Voter ID Card, Driving Licence, or Aadhaar Card is accepted as valid address proof.
Bank statement:
Submitting the Bank statement for the last 3 months or passbook entries for the last 6 months is mandatory.
Salary documents:
2 latest salary slips, current salary certificate, and latest Form 16 are required for processing a loan application.
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