Want us to help you with anything?
Request a Call back

This field is required Only alphabetes are allowed
This field is required Only alphabetes are allowed
Please enter valid number
Please enter valid email
Please select product type
Please enter valid pincode

Thank you for your request.

Your reference number is CRM

Our executive will contact you shortly

Interest Rate and Charges

Important Notice:


The RBI through its Circular No. RBI/2023-24/53 dated Aug 18, 2023 on ‘Fair Lending Practice - Penal Charges in Loan Accounts’, has advised banks that penalty if charged, for non-compliance with the material Terms and Conditions of the loan contract will be treated as penal charges and not be levied in the form of penal interest that is added to the rate of interest charged on the loans/ advances. The RBI has further advised that there will be no capitalisation of penal charges i.e. no further interest will be computed on such penal charges. However, the above mentioned shall not affect the normal procedure for compounding of interest in the loan account.

The above guidelines are effective from Apr 01, 2024 and applicable for all fresh loan facilities executed from Apr 01, 2024. In case of an existing loan facility, the switchover to the new penal charges regime shall take place by the next review or renewal date or before Jun 30, 2024, whichever is earlier. The revised charges are as below:


Type of Credit facility Interest Rate and charges applicable
Cardless EMI Interest Rate 13.04% to 22.50%
Processing Fee Nil
Service Charges
Charges for Amortisation Schedule ₹ 200/- for physical print out, Nil for digital channels

Charge for Duplicate No Objection Certificate

/ No Due Certificate

₹ 250/- per instance
Charge for Prepayment or Foreclosure statement ₹ 200/- for physical print out at the branch
Charges for Statement of Account ₹ 200/- for physical print out at the branch
Charge for repayment mode swap ₹ 500/- per instance
Charge for Prepayment/ Foreclosure 5% Of outstanding
Penal charges
Penal Charge for late payment

5% per annum will be charged on the overdue EMI until repayment plus

applicable taxes which may be payable pursuant to the applicable laws and

terms and conditions

Penal Charge for dishonour of Cheque/AD/ECS/NACH per transaction ₹ 500/- charges per instance of bounce/return/dishonour of cheques and/or any payment instruction including AD/ECS/NACH/E-mandate
 Legal & incidental charges  Incidental Charges are those expense that are not budgeted or specified but are incurred by ICICI Bank Limited on behalf of the Borrower. At Actuals.


  • 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 Limited.
  • Specific interest rate applicable to a customer would be dependent on segment, asset category, brand and schemes provided by Original Equipment Manufacturer (OEMs) and tenure,
  • The charges or fees given in above table are subject to change and the one recorded in agreement will be binding over the site.
  • ICICI Bank reserves the right to revise the rate of interest and processing fee from time to time, at its sole discretion.
  •  * or such other amount as may be specified by ICICI BANK LIMITED from time to time plus applicable taxes and other statutory levies

Interest Rate Range for Jan 2024 to Mar 2024:

Type of Credit facility Minimum Maximum Mean
Cardless EMI 13.04% 22.50% 17.44%

Note: 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 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.