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2 mins Read | 8 Months Ago

The latest Personal Loan rates and what to consider before taking a Personal Loan


Financial emergencies come unannounced and sometimes they multiply so fast that your savings isn’t enough to handle all expenses. The best way forward in such cases is to opt for a Personal Loan. Now, if you have been in two minds about taking a personal loan due to the interest rate and other charges, ICICI Bank is here to help you with low interest rates and amazing features and benefits.

The latest Personal Loan rates at ICICI Bank in 2022

If you are looking for a low interest Personal Loan, ICICI Bank will not disappoint you. Apart from several Personal Loan types, the rates are affordable enough to the borrowers.

Below is a detailed account of the latest Personal Loan rates that we offer:

Rate of interest for ICICI Bank Personal Loans 2022

Rate of interest

10.50% p.a. onwards

For NRIs

14.20% onwards

Flexicash (Overdraft facilities to the salary Account holders)

12 to 14% p.a.

Processing charges and fees for ICICI Bank Personal Loans 2022

Processing Fees

Up to 2.50% of the loan amount + GST

Prepayment charge

5% on outstanding principal + GST

There are no prepayment charges levied if it’s closed using own funds (by MSME classified).

Loan cancellation charge

INR 3,000 + GST

Penal rate of interest

24% p.a.

EMI Bounce charge

Rs 400 for every bounce + GST

Repayment mode swap charge

Rs 500 for every transaction + GST

Highlights of ICICI Bank Personal Loan 2022

Rate of interest

10.50% p.a. onwards

Processing Fee

Up to 2.50% of the loan amount

Loan amount

Rs 50,000 to Rs 25 lakh


12 months to 72 months

Minimum salary per month

Rs 30,000

Points to consider before availing an ICICI Bank Personal Loan

Before you click on ‘Personal loan apply at ICICI Bank there are a few things that you need to consider such as:

Personal Loans for different usages

Our Personal Loan offerings differ based on your needs and financial requirements. For instance, we have Fresher Funding that comes with a loan amount of up to Rs 1,50,000 to address the personal expenditure of new employees and fresher’s.

FlexiCash is an Instant Overdraft facility against salary designed for ICICI Bank Salary Account holders. Advantages of the facility:

  • You can avail this OD facility to meet planned or unplanned expenses

  • You pay interest only on the utilised amount

  • Clear outstanding dues as per your convenience & pay only interest every month.

Even NRIs can take a Personal Loan of up to Rs 10 lakh to meet their personal requirements.

Eligibility criteria for an ICICI Bank Personal Loan

The eligibility criteria for personal loan is not the same for salaried individuals and self-employed individuals:

Personal loan for salaried individuals:

Age: 23 to 58 years

Minimum Income Per Month: Rs 30,000

Work Experience: Minimum 2 years

Years in Present Residence: Minimum 1 year

Personal loan for self-employed or Business Loans:


Doctors: 25 to 65 years

Others: 23 to 65 years

Minimum Turnover:

Professionals: INR 15 lakh

Non-Professionals: INR 40 lakh

Minimum Profit after Deducting Taxes:

Self-Employed Individuals or Proprietorship Firms: INR 2 lakh

Non-Professionals: Rs 1 lakh

Business Stability:

Doctors: Minimum 3 years

Current Business: Minimum 5 years

ICICI Bank Personal loan online approval

You can apply for a Personal Loan online at ICICI Bank. To do so, check whether you have any pre-approved offers. After that, you can fill and submit the Personal Loan application if you meet the eligibility criteria. Ensure to recheck the loan tenure and amount you have selected. Finally, submit your application and check the approval status for your Personal Loan.

If you want to know more about our Personal Loan offers, get in touch with us at our Toll-Free Customer Care Number on 1860-120-7777. You can also visit your nearest ICICI Bank Branch.


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