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Latest Personal Loan Interest Rates

Type of credit facility Interest Rate and Charges Applicable
Personal Loan Interest Rates 10.80% to 16.15% per annum
Loan Processing Charges (Non Refundable) Upto 2 % of loan amount
Prepayment /Foreclosure Charges a. 3% on principal outstanding amount.
b. Nil after 12 EMIs paid.
c. For Business Loans (BIL/BL) <=50 Lakhs i.e. Booked under code ‘UP’, the FC to be considered as “NIL” if first EMI is paid. This is applicable only for Micro and Small enterprises only (subject to URC submission) and not for Medium enterprises.
Cheque /AD/ECS bounce Charges / SAL OD (Late payment fees) ₹. 500/-
Repayment mode swap Charges ₹. 500/-
Loan Cancellation Charges
    Digital Lending

    1. NIL Cancellation within Free Look / Cooling off period (i.e. 15 days from Disbursement). PF will be Non Refundable.

    2. Cancellation post cooling Period & Before 1 EMI date (i.e. from 16th day till 1st EMI date) - Proportionate APR to be considered with max capping of ₹2,500 /-(applicable for Digital Lending)

    Non- Digital Lending:

    Cancellation Fee of ₹. 2,500/- 



  • The specific interest rate applicable to a customer would be dependent on the segment, asset category and location.

  • ICICI Bank reserves the right to revise the rate of interest and the processing fee from time to time, at its sole discretion.

  • GST and other Government taxes, levies, etc., applicable as per the prevailing rates will be charged over and above the mentioned charges, at the discretion of the Bank

  • The charges or fees given in the table are subject to change and the charges/fees recorded in your agreement will be binding over the details mentioned here.


Fees and service charges:

ICICI Bank offers a higher Personal Loan amount and lower EMIs at attractive interest rates. Check Personal loan Service & Penalty Charges to know more about the fees and service charges applicable on ICICI Bank Personal Loans..

Important Information

In compliance with the Rule 9B of the Prevention of Money Laundering (Maintenance of Records) Rules, you are required to intimate the Bank if there are any changes in your KYC details along with the updated documents (i.e. address, contact details, profile, etc.) within a period of 30 days from the date the changes were made. Once you intimate us, the necessary changes will be updated in the Bank records. Any updates can be intimated to the Bank as per the request provided in the application form.

Disclaimer: The products, services and offers referred to here, are subject to the Terms and Conditions governing them as specified by ICICI Bank from time to time, at . Nothing contained here will constitute or be deemed to constitute an advice, invitation or solicitation to purchase any products/services of ICICI Bank.


Penalty charges & service charges applicable for Personal Loans, Business Instalment Loans & Salary Overdraft:

Sr. No.

Types of charges


Penal Charges:


Cheque/AD/ECS bounce charges /Salary Overdraft (Late payment fee)

₹ 500


Charges for late payment

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


Non Maintenance of Mode of Payment charges (NMMP)

₹ 800

Service Charges:


Loan processing charges (non-refundable)

Up to 2 % of the loan amount


Repayment mode swap charges

₹ 500


Salary Overdraft (Processing Fee)

0.99% of the limit amount subject to a minimum of

₹ 1,999 and maximum of ₹ 2,999


Loan cancellation charges

Digital lending:

a. Nil – If the loan is cancelled within the free look/cooling off period (i.e. 15 days from the date of loan disbursement). Processing Fee will be non-refundable

b. If the loan is cancelled after the cooling off period & before the first EMI date (i.e., from the 16th day till the first EMI date), proportionate Annual Percentage Rate (APR) will be considered with a maximum capping of ₹2,500

Non-digital lending: A cancellation fee of ₹2,500 is applicable


Prepayment charges/Foreclosure charges

  1. 3% of the outstanding principal amount

  2. Nil after 12 EMIs

  3. For Business Instalment Loans (BIL) <=₹50 lakh i.e. booked under the code ‘UP’, the foreclosure charges will be ‘Nil’ if the first EMI is paid. This is applicable only for micro and small enterprises (subject to URC submission) and not for medium enterprises


Part payment charges

  1. 3% on the principal amount being prepaid for a loan seasoning period of up to 24 months

  2. Nil for a loan seasoning period of above 24 months


Salary Overdraft (Annual renewal fee)



Cash transaction charges

₹ 100 at the branch


Duplicate NOC/No Dues Certificate charges

₹ 250 for physical printout at the branch


Information utility charges (Only for corporate cases)

₹ 300


Prepayment statement charges

₹ 200 for physical printout at the branch


Amortisation schedule charges

₹ 200 for physical printout at the branch

Nil for digital channels

Loan recovery charges (if applicable): The charges given below would be applicable to retail products, except for a few, depending on the nature of the products.

Sr. No.

Types of charges



Charges incurred in SARFAESI proceedings

At actuals


Charges incurred for sending different notices

At actuals


Enforcement charges

At actuals


Paper advertisement charges

At actuals


Repossession charges

At actuals


Security guard charges

At actuals


Overdue handling charges

i. ₹ 750 where a notice has been delivered to the communication address and a paper publication is not required
ii. ₹ 1,700 where no notice has been delivered to the communication address and the paper publication has not taken place

iii. ₹ 300 for sending an auction notice in addition to points i and ii

iv. ₹ 200 for sending a loan recall notice in addition to points i and ii


  1. All above charges are exclusive of Goods & Services Tax (GST). Applicable GST, taxes and/or other statutory levies shall be levied over and above charges by the Bank.

  2. The charges/penal charges will be levied at the sole discretion of the Bank

  3. Stamp Duty will be applicable as per the State Stamp Duty Act applicable for the state.

Personal Loan Annual Percentage Rate

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

The APR Calculator does not include charges such as Prepayment Charges, etc.

Please click here to calculate these charges and to download the APR calculator.

Personal Loan Interest Rate FAQs

Interest rates are charged when you take a loan from the Bank. ICICI Bank offers affordable interest rates on Personal Loans. However, these rates depend on the credibility and credit profile of the applicant.

The Bank adds 1/12th of the annual rate of interest for each month to the remaining loan amount. Customers are supposed to make monthly payments equal to their principal amount plus this amount to pay off their loans.

Yes, 10.80% is a good interest rate. This offer depends on the borrower's credit profile and the Terms and Conditions of the Bank. Please review the specific interest rates and applicable charges before applying.

None of the Loans have a zero interest rate. However, we may offer a promotional interest rate of 0% for a limited period on Credit Cards.

To get the lowest interest rate, you can improve your Credit Score, apply for a Loan with a co-applicant and opt for a shorter Loan tenure. For more information, get in touch with us.