Personal Loan Interest Rates: Get 10.5% Lowest Rate of Interest on Bank Loan

Type of credit facility	Interest Rate and Charges Applicable
Personal Loan Interest Rates	10.25% 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

Notes:

The specific interest rate applicable to a customer would be dependent on the segment, asset category, and location
ICICI Bank reserves the right to revise the rate of interest and processing fee from time to time, at its sole discretion
GST and other govt. taxes, levies, etc., applicable as per the prevailing rate will be charged over and above these charges at the discretion of ICICI Bank Ltd
The charges or fees given in the above table are subject to change and the one recorded in the agreement will be binding over this site
^Effective for loans availed from Aug 1, 2009. For loans availed prior to the said date, the cheque return charge is Rs 200 + applicable GST
The current GST applicable is 18.00%, with effect from Jul 01, 2017
Auto Debit Bounce charges: ₹50 + GST^#

^#Amount will be debited from your savings account.

Service Charges; Fees for Personal Loans

Enclosed find the service charges for an ICICI Bank Personal Loan

Prepayment of the loan is possible any time during the loan tenure, subject to the payment of standard pre-closure charges of 5% + GST
The waiver, if any, of the prepayment charges will be applicable provided that
- The customer has paid 12 or more EMIs and
- The pre-payment of the loan is done using the customer’s own funds (Waiver on pre-payment charges is not applicable in cases of balance transfer)
The facility of part pre-payment is not available.

Personal Loan Interest Rates for period Jan'22 to Sep'22

Type of credit facility	Max	Min	Mean
Personal Loan Interest Rates	16.49% p.a.	10.25% p.a.	13.96% p.a.

Notes:

It includes various categories like loan amount, customer relationships, type of corporate/business, etc
It excludes subsidy, government schemes
Mean rate = Sum of rate of all loan accounts / Number of all loan amounts

Annual Percentage Rate

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.