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2 Lakh Personal Loan interest, fees and documents

Interest rates and Fees

Applicants interested in a Personal Loan from ICICI Bank can use the Personal Loan EMI Calculator to check the applicable interest rate. They can also experiment with different combinations to arrive at a loan amount and tenure that is ideal for them.


Interest rate:

This rate depends on various factors such as the applicant's credit history, income and the Bank’s policies. After assessing these aspects, the final rate offered to the applicant is determined. ICICI Bank offers attractive Personal Loan interest rates. 


Processing fee:

While applying for the loan, a processing fee is levied. This fee covers the administrative costs involved in processing the loan application.



Borrowers have the flexibility to choose a repayment tenure that suits their financial situation. The tenure for this Personal Loan ranges from 12 months to 72 months. This allows borrowers to select a repayment schedule that aligns with their ability to repay the loan comfortably.

Documents required for your Personal Loan application:

The following documents are required to apply for a Rs 2 lakh Personal Loan:


Salary slips: The applicant needs to provide salary slips for the last 3 months that indicate his/ her regular income

Bank statements: Bank statements for the last 3 months for validating financial transactions and account stability

Identification proof: A valid identity proof such as a Passport, Driver's Licence, Voter ID or PAN Card (any one) is mandatory to verify the applicant's identity.

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How can you calculate your Personal Loan EMI?

While determining your Personal Loan Equated Monthly Instalment (EMI), a commonly used approach is the Reducing Balance method. This method involves calculating the interest based on the remaining loan amount. Although the EMI remains constant throughout the repayment period, the proportion allocated to the principal amount increases while the interest component decreases over time.

You can use the ICICI Bank Personal Loan EMI Calculator for calculating your EMIs. You only need three variables: The loan amount, the interest rate and the tenure. You can also play around with numbers to arrive at a figure that you can comfortably repay over the loan duration. 

Personal Loan FAQs

How is the interest rate for a Rs 2 lakh Personal Loan from ICICI Bank determined?

The interest rate for a Personal Loan ranges from 10.80% to 16.15% per annum and is influenced by factors such as the applicant's credit history, income and ICICI Bank's lending policies.

Which documents are required for the Personal Loan application? 

Essential documents for your Personal Loan application include salary slips for the last 3 months, bank statements for the last 3 months and a valid identity proof (Passport, Driver's Licence, Voter ID or PAN Card).

ICICI Bank offers pre-approved loans to select customers. These customers are not required to submit any documents while applying for Personal Loans. After loan approval, the amount is quickly disbursed to their accounts.

How can I check my eligibility for a Rs 2 lakh Personal Loan? 

Existing ICICI Bank customers can check their eligibility for a pre-approved Personal Loan using the iMobile Pay app or ICICI Bank Net Banking. To use the EMI Calculator, visit the ICICI Bank website. Enter the loan amount, interest rate and tenure to estimate your monthly instalments and the total interest payable over time.