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A pre-approved Personal Loan is an instant loan facility for selected customers. This does not require any collateral or security. If a person has a good credit history, he/she becomes eligible for a pre-approved Personal Loan. This has a quick processing time and loan gets disbursed in seconds.
ICICI Bank pre-approved Personal Loan is generally offered to customers having a good credit history or who have a clean track of repaying their dues. It is also offered to customers if they have no credit history referring to parameters like income and saving history. If you are an ICICI Bank customer, you can log in to Internet Banking using iMobile app or through www.icicibank.com to check your eligibility.
The pre-approved Personal Loan amount differs for every individual. The maximum pre-approved amount can go up to Rs 50 lakhs* which considers customer’s credit history as well as loan repayment cycle. To repay the loan, you can opt for tenure ranging from 12 months to 60 months which will make the loan repayment process easy for ICICI Bank customers.
Sample Personal Loan Calculation
| Loan Amount | Rs. 1,000,000 |
|---|---|
| Interest Rate | 11.25% per annum |
| Loan Term | 60 Months |
| Monthly EMI | Rs. 21,867 |
| Processing Fees | 1.25% of loan amount plus GST |
*The values shown are for representation purposes only. Actual values may differ.
You can apply for ICICI Bank pre-approved Personal Loan in just 4 steps:
Step 1: Fill the application form:
Step 2: Select your required loan amount and tenure.
Step 3: Amount will be credited to your account.
A pre-approved Personal Loan is usually offered by banks to customers who have a clean track record of repaying their dues. It is often offered at lower interest rates. It is also offered in case customer has no credit history basis parameters like income and savings history.
This is based on your credit history and loan repayment track. ICICI Bank offers pre-approved amount up to Rs 20 lakh.
You can apply through ICICI Bank website, ICICI Bank iMobile app or ICICI Bank ATM or just SMS PL to 5676766.
You can repay the loan in Equated Monthly Instalments (EMIs). If you have an ICICI Bank Account, you can mandate us to directly debit the same through auto debit mandate or if you have an alternate bank account, then through NACH mandate.
Pre-approved loans are instant approved loans and require just 3 seconds* for disbursal.
No, there is no requirement of security or guarantor for the pre-approved Personal Loan.
*T&C apply
*The loan amount will be credited upon completion of the online verification and acceptance of final offer.
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