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Pre-Approved Personal Loan: Eligibility & Document

Eligibility criteria and documents required for a pre-approved Personal Loan are as follows:

Eligibility criteria


Good credit score

A track record of timely repayments and a good CIBIL score

Existing ICICI Bank customer

Accessible through the iMobile Pay app

Pre-Approved Personal Loan: Amount & Tenure

The pre-approved Personal Loan amount differs for every individual. The maximum pre-approved amount can go up to Rs 50 lakh after taking into consideration the customer’s credit history as well as the loan repayment cycle. To repay the loan, you can opt for a tenure ranging from 12 months to 72 months which will make the loan repayment process easy for ICICI Bank customers.

Sample Personal Loan Calculation

Loan amount

Rs 10,00,000

Interest rate

11.25% per annum

Loan term

60 months

Monthly EMI

Rs 21,867

Processing Fee

2.00% of the loan amount plus GST

*The values shown here are for representation purposes only. Actual values may differ.

How to Apply for a Pre-Approved Personal Loan



Interest rate

10.80% to 16.15% per annum

Loan processing charges

Up to 2.00% of the loan amount plus applicable taxes

Prepayment 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.

Penal charges for late payment

5% Per Annum will be charged on the overdue EMI until repayment.

Repayment mode swap charges

Rs 500 per transaction plus applicable taxes

Loan cancellation charges

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

b. 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 ₹3000 /- (applicable for Digital Lending)

c. Cancellation Fee of ₹. 3,000/- (applicable other than Digital Lending).

EMI bounce charges

Rs 500 per cheque bounce plus applicable taxes.


How to avail a pre-approved Personal Loan?

To avail a pre-approved Personal Loan digitally, follow these steps:

Step 1: Log in to the iMobile Pay app or visit

Step 2: Navigate to the ‘Loans’ section and select ‘Pre-approved Personal Loan’

Step 3: Confirm your required loan amount and tenure

Step 4: Validate all the details of your loan

Step 5: Accept the Terms and Conditions by checking the box and click on ‘Disburse Now’

Step 6: Authenticate by providing the grid values on your Debit Card and then click on ‘Submit’.

This digital loan approval process ensures a hassle-free experience.

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