ICICI Bank 1 Lakh Personal Loan

• Zero Foreclosure charged after paying 12 EMIs
• Enjoy flexible tenure up to 72 months
• Get access to collateral-free personal loans
• Experience hassle-free lending with minimal documentation

• Credit score & history: A strong credit score (800+) usually helps you secure lower interest rates. Maintaining disciplined credit behaviour and a consistent repayment record is essential for building a solid credit score.
• Income & job stability: A steady income and stable employment increase your chances of getting favourable loan terms and interest rates.
• Existing financial obligations: Lenders assess your current debts and liabilities before deciding on interest rates. The higher your outstanding commitments, the more likely you are to be charged a higher rate.
• Relationship with the lender: Long-standing customers with a positive banking relationship are often offered more competitive terms.

• Age: 20 to 58 years
• Salary: Min. Rs 30,000 per month
• Work Exp.: Min. 2 years

• Age: 23 to 65 years
• Business Vintage:
  • 2 years in the current business
  • 3 years total experience

• Proof of identity
• Proof of residence
• Latest 3 months' bank statement
• Salary slips for the last 3 months
• PAN Card and Adhaar Card

• Proof of identity
• Proof of residence
• Proof of office ownership
• Audited financials for the last 2 years as income proof
• Latest 6 months’ bank statement
• Proof of continuity of business

Also Read: Personal Loan Documents List

• Processing Fee: Up to 2% of the loan amount plus applicable taxes
• Repayment mode swap charges: ₹ 500
• Part payment charges:
  • 3% + GST on the part payment amount paid for the loan repayment tenure of up to 24 months;
  • Nil for a loan repayment tenure of above 24 months
• Loan Cancellation Charges
  • Nil – If the loan is cancelled within the cooling-off period (i.e.,15 days from the date of disbursement)
  • Cancellation fee of Rs 2,500 if the loan is cancelled after the cooling-off period
• Pre-payment Charges:
  • For salaried customers- 3% plus applicable taxes on principal outstanding after payment of 1st EMI; Nil if 12 or more EMIs are paid.
  • For MSE classified customers, charges are Nil after payment of the 1st EMI for a loan amount of up to Rs 50 lakh
• Charges of late payment: 5% p.a. on the overdue EMI until repayment
• EMI Bounce Charges: Rs 500 per bounce + GST