Personal Loan

A Personal Loan is an unsecured loan availed for a variety of purposes like vacations, shopping, home renovation, medical bills, unforeseen expenses, medical emergencies, etc. The money you borrow is repaid over time with an interest. ICICI Bank offers instant Personal Loans online with attractive offers. T&C apply.

Visit our website to secure an instant loan with ICICI Bank. After checking your pre-approved offer, check your eligibility and fill in and submit your Personal Loan application. Select the Loan amount and tenure as per your requirement. Check your Personal Loan approval status. You will receive an instant loan approval and the amount will be disbursed into your Account immediately.

Documents required to avail an Instant Personal Loan with ICICI Bank:

For Salaried Individuals:

• Proof of Identity: Passport/Driving Licence/Voters ID/PAN Card (any one)
• Proof of Residence: Leave and Licence Agreement/Utility Bill (not more than 3 months old/Passport (any one)
• Latest 3 months Bank Statement (where salary/income is credited)
• Salary slips for the last 3 months
• 2 Passport size photographs.

For Self-Employed:

KYC Documents: Proof of Identity, Address proof and DOB proof.

• Proof of Residence: Leave and Licence Agreement/Utility Bill (not more than 3 months old)/Passport (any one)
• Income proof (audited financials for the last two years)
• Latest 6 months Bank Statement
• Office address proof
• Proof of residence or office ownership
• Proof of continuity of business.

*Conditions apply.

*ICICI Bank reserves the rights to call upon additional documents at its discretion.

No, ICICI Bank offers its customers a collateral-free Personal Loan without any security. Visit our website to apply for an Instant Personal Loan online.

ICICI Bank offers Personal Loans starting at Rs 50,000 up to Rs 50,00,000.

ICICI Bank currently offers a Personal Loan at interest rates ranging from 10.75% to 19.50%.

ICICI Bank Personal Loan tenure ranges from 12 months to 72 months.

The loan approval process at ICICI Bank is simple, quick and instant. Once a customer's Personal Loan is approved it takes only 3 seconds for the amount to be disbursed into your Account.

The advantages of ICICI Bank Personal Loan are:

• Attractive Interest Rates
• Flexible Tenure Options
• Low EMI Amount
• Easy Application Process
• Pre-Approved Offers
• No Collateral Required
• Quick Disbursement
• Quick Assistance
• Digital Process
• No Restrictions on Usage
• Minimal Documentation.

Personal Loan foreclosure facility is extended to all customers availing a Personal Loan with ICICI Bank. For pre-payment/ pre-closure of the loan, Zero foreclosure charges are applicable after 12 EMIs. However, foreclosure charges of 3% of the outstanding principal (plus GST) is applicable if loan is closed within 12 EMIs.

No, there are no tax benefits and tax deductions for Personal Loans.

Eligibility criteria for salaried individuals:

• Age: 23 years to 58 years
• Monthly Income: Rs 30,000 and above (The minimum salary requirement will differ depending on the profile of the customer.)
• Work Experience: 2 years
• Years in current residence: 1 year.

Eligibility criteria for self-employed individuals:

• 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 the audited financials
• Business Stability: 5 years minimum for the current business and 3 years minimum 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 record as required.

• Attractive Interest Rates
• Flexible Tenure Options
• Low EMI Amount
• Easy Application Process
• Pre-Approved Offers
• No Collateral Required
• Quick Disbursement
• Quick Assistance
• Digital Process
• No Restrictions on Usage
• Minimal Documentation.