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

Description of Charges	Charges applicable
Loan Processing Charges / Origination Charges (Non-Refundable)	Upto 2.25% per annum of loan amount plus GST
Prepayment Charges	5% per annum of principal outstanding plus GST
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
Legal and Incidental charges. Incidental charges are those expenses that are not budgeted or specified, but are incurred by the bank on behalf of the customer.	At actuals

Notes:

GST and other govt. taxes, levies, etc. applicable as per prevailing rate will be charged over and above these charges at the discretion of ICICI Bank ltd.
The charges or fees given in above table are subject to change and the one recorded in agreement will be binding over this site.
^Effective for loans availed from August 1st, 2009. For loans availed prior to the said date, the cheque return charge is ₹ 200 + applicable GST
Current GST applicable is 18.00% with effect from July 01, 2017.
Auto Debit Bounce charges: Rs. 50 + GST^#

^#Amount will be debited from your savings account.

Interest Rate Range for Personal Loans for period Oct 2018 to Dec 2018:

Type of credit facility	Max	Min	Mean
Personal Loan Interest Rates	21%	10.99%	13.85%

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

The Annual Percentage Rate (APR) is a method to compute annualised credit cost which includes interest rate and processing fee.

The APR calculator does not include charges such as prepayment charges, etc.

To calculate the same, please click here to download the APR calculator.