Service Charges & Fees for Personal Loans
|Description of Charges||Charges applicable|
|Loan Processing Charges / Origination Charges (Non-Refundable)||Upto 2.50% of loan amount|
|Prepayment Charges||For salaried customers, 3% on principal outstanding after payment of 1st EMI
Nil, if 12 or more EMIs are paid. For MSE classified customers, charges are Nil after payment of the 1st EMI for Loan amount upto 50 lakhs.
|Additional Interest on late payment||24% per annum|
|Repayment Mode Swap Charges||₹ 500/- per transaction|
|Loan Cancellation Charges||₹ 3000/-|
|**EMI Bounce Charges||₹ 400/- per bounce|
|Miscellaneous charges viz. charges incurred in filing legal suit, Non Maintenance of Mode of Payment (NMMP) charges||At actuals|
|Cash transaction charge for repayment of EMI dues at Branches||₹ 100|
- 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 plus applicable taxes#
#Amount will be debited from your savings account.
Interest Rate Range for Personal Loans for period April'22 to June'22 :
|Type of credit facility||Max||Min||Mean|
|Personal Loan Interest Rates||19.00% p.a.||10.25% p.a.||12.54% p.a.|
- It includes various categories like loan amount, customer relationships, type of corporate/business, etc
- It excludes subsidy, government schemes and loans disbursed under Credit Guarantee Scheme (ECLGS) at mandated interest rate of 9.25%
Annual Percentage Rate
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.
Do I have to pay any additional charges for Personal Loan?
A processing fee is levied on loan, basis the defined pricing matrix followed by the bank. This fee will be deducted from the disbursal amount payable to you
What are the interest rates for PL?
Personal Loan interest rates are applied basis the defined pricing matrix followed and standardised by the bank as per customer’s profile. Personal Loan rates vary from 10.75% to 19% per annum.
What is a 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.
How does one avail an instant Personal Loan online with ICICI Bank?
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.
What are the required documents for a Personal Loan with ICICI Bank?
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.
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.
*ICICI Bank reserves the rights to call upon additional documents at its discretion.
Do I need to provide a security or collateral to apply for a Personal Loan with ICICI Bank?
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.
What is the minimum and maximum amount of Personal Loan offered by ICICI Bank?
ICICI Bank offers Personal Loans starting at Rs. 50,000 up to Rs.50,00,000.
What is the interest rate on an ICICI Bank Personal Loan?
ICICI Bank currently offers a Personal Loan at interest rates ranging from 10.75% to 19% per annum.
What is the repayment tenure of a Personal Loan?
ICICI Bank Personal Loan tenure ranges from 12 months to 72 months.
What is the Personal Loan processing time?
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.
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