Personal Loan Interest Rates
Personal loan interest rates and charges in India based on the type of credit facility. Indicative lending rates are effective from Feb 16, 2017.
|Type of credit facility||Interest Rate and Charges Applicable|
|Personal Loan Interest Rates||10.5% to 19% per annum|
|Loan Processing Charges / Origination Charges (Non-Refundable)||Upto 2.50% of loan amount plus GST|
|Prepayment Charges||5% on principal outstanding plus GST (for salaried customers)
Nil, if loan is closed using own funds (MSME classified customers)
|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|
Enclosed find the service charges for an ICICI Bank Personal Loan
|Type of credit facility||Max||Min||Mean|
|Personal Loan Interest Rates||16.49% p.a.||10.25% p.a.||13.96% p.a.|
The Annual Percentage Rate (APR) is a method to compute annualised credit cost, which includes the interest rate and processing fee.
The APR calculator does not include charges such as prepayment charges, etc.
To calculate the same and to download the APR calculator, please click here.
Attractive Rate of Interest starting from 11.25% p.a
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