During any financial emergency, ICICI Bank Instant Personal Loan is the best option to avail as it goes upto Rs. 20 lakh. The pre- approved personal loan is approved by ICICI Bank after financial background checks of an individual as if you have a good credit history, you become eligible for this loan. This loan is processed quickly and the amount gets disbursed to your account within seconds.
ICICI Bank Instant Personal Loan - Features
- Flexible tenure: ICICI Bank Instant Personal Loan offers flexible repayment option to make repayment easy and stress- free for customers. The tenure starts from 24 months and goes upto 60 months and can be decided by an individual as per his repayment ability
- Quick disbursal: If you are an existing customer of ICICI Bank and get pre- approved for an instant personal loan, the funds get disbursed to your account in just 3 seconds
- Minimum documentation: To process your instant personal loan application at ICICI Bank, you need to submit either zero or minimum documentation
- Least processing time: Pre- approved personal loan customers also get to enjoy minimum processing time after applying for the loan as there are lesser formalities involved
ICICI Bank Instant Personal Loan - Interest Rate and Fees
|Personal Loan Interest rate||11.50% to 19.25% p.a.|
|Prepayment Charges||5% per annum of principal outstanding plus GST|
|Loan Processing Charges||Up to 2.25% per annum of Loan Amount plus GST|
|Loan Cancellation Charges||Rs 3000/- plus GST|
|EMI Bounce Charges||Rs 400/- per bounce plus GST|
|Repayment Mode Swap Charges||Rs 500/- per transaction plus GST|
|Additional Interest on Late Payment||24% per annum|
ICICI Bank Instant Personal Loan - Eligibility Criteria
- You should have a good credit history
- You should have a clean track of repaying the dues
- In case you do not have a credit history, you should have a good income and saving history
Apart from the above mentioned criteria, ICICI Bank might also take into consideration the basic eligibility criterion that is followed to approve ICICI Bank Personal Loan. Know more about ICICI Bank Personal Loan Criteria here.
ICICI Bank Instant Personal Loan - Documents Required
For salaried professionals:
- Proof of Identity: Passport/ Voters ID/Driving License/ PAN Card (any one)
- Proof of Residence: Utility Bill (not more than 3 months old)/Leave and License Agreement/Passport (any one)
- Salary slips for last 3 months
- Latest 3 months Bank Statement (where salary/income is credited)
- 2 Passport Size photograph
For self- employed individuals:
- KYC Documents: Proof of Identity, Address proof, DOB proof
- Proof of Residence: Leave and License Agreement / Utility Bill (not more than 3 months old) / Passport (any one)
- Income proof (audited financials for the last two years).
- Office address proof
- Latest 6 months Bank statement
- Proof of continuity of business
- Proof of residence or office ownership
How to Apply For ICICI Bank Instant Personal Loan?
Frequently Asked Questions
What is the maximum instant personal loan amount that I can get from ICICI Bank?
ICICI Bank offers a pre- approved amount of Rs. 20 lakh but the amount that you are eligible for depends on your credit score and repayment history.
How can I repay ICICI Bank Instant Personal Loan?
You can easily repay the loan in EMIs. If you have an account with the bank, you can choose the auto- debit feature and if you don’t have an account with the bank, you can pay though NACH.
How much time will it take to the get the personal loan disbursed to my account?
Once you have applied for ICICI Bank Instant Personal Loan, the amount gets disbursed in just 3 seconds.
How do I get in touch with ICICI Bank customer care?