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Service Charges & Fees for Personal Loans

Enclosed find the service charges for an ICICI Bank Personal Loan

  • Personal Loans can be foreclosed any time after the payment of the 1st EMI and the applicable charges are 3% + plus applicable taxes.
  • Pre-closure statements are available over the counter at all Asset Servicing Branches
  • NIL Pre-closure charges , if 12 EMIs are Paid.
  • Facility of part pre-payment is not available.

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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:

Existing penal interest Applicable penal charges
24% per annum 5% per annum

*Goods and Services Tax and other government taxes, levies, etc. applicable as per the prevailing rate will be charged over and above the mentioned penal charges.


S.No. Types of Charges Amount

Penal Charges :


Cheque /AD/ECS bounce charges

₹. 500/-


Charges for late payment

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

Service Charges :


Loan Processing Charges

2.5% of loan amount


Repayment mode swap Charges

₹. 500/-


Sal OD (Processing Fee)

0.99% of limit amount Subject to Min. of ₹. 1,999 /- and Max. of ₹. 2,999 /-


Loan Cancellation charges

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 ₹3000 /- (applicable for Digital Lending)

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


Prepayment / Foreclosure Charges

  1. 3% on principal outstanding amount.

  2. Nil after 12 EMIs paid.

  3. 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.


Sal OD (Annual renewal fees)

₹.1,999 /-


Cash Transaction charges

₹. 100/- at the branch


Charges for duplicate NOC / No Dues Certificate

₹. 250/- for physical print out at the branch


Information utility charges (Only for corporate cases)

₹. 300/-


Charge for Prepayment Statement

₹. 200/- for physical print out at the branch


  • 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 ltd.
  • The charges or fees given in above table are subject to change and the one recorded in agreement will be binding over this site.

Interest Rate Range for Personal Loans for period January 2024 to March 2024 :

Type of credit facility Max Min Mean
Personal Loan Interest Rates 19.25% p.a. 10.70% p.a. 13.02% p.a.


  • It includes various categories like loan amount, customer relationships, type of corporate/business, etc
  • It excludes subsidy, government schemes and loans disbursed under Credit Guarantee Scheme (ECLGS) at mandated interest rate of 9.25%

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.