ICICI Bank Personal Loan EMI Calculator

ICICI Bank Personal Loan EMI Calculator allows the prospective borrowers to calculate their total EMIs and total interest cost payable...

ICICI Bank Personal Loan EMI Calculator allows the prospective borrowers to calculate their total EMIs and total interest cost payable for different loan amounts, interest rates and repayment tenures. The EMI calculator also helps you decide the optimum tenure and loan amount based on your repayment capacity.

Calculate Your Personal Loan EMI

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Enter Loan Amount

₹

50K50L

Rate of Interest (Yearly %)

8%30%

Loan Tenure

1Y 10Y

Your Monthly EMI Payment

₹0

Principal Amount₹0

Interest Amount₹0

Total Amount₹0

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ICICI Bank

100% Digital Process*Quick Disbursal

Max Loan Amt.Upto ₹25L

Rate of Interest11% - 13%

Tenure upto1-5 Years

Processing FeeUpto 2%

Interest rate starts at 11% p.a. onwards.
Loan amount of up to Rs. 25 lakh for tenure of up to 5 years.
Collateral-free loans.
Low processing fees.
No end-usage restriction.

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Features

Comparison Table

Factors Affecting EMI

Amortization Schedule

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End-to-End Digital Process

How Can I Apply for a Personal Loan Online?

Get up to ₹40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Features of ICICI Bank Personal Loan EMI Calculator

ICICI Bank personal loan EMI calculator evaluates the total EMIs, total interest cost and the overall borrowing cost of the applicants.
The calculator is available online and is free of cost.
The parameters can be modified as per the requirements.
Individuals can plan their EMIs according to their budget.

Comparison of ICICI Bank Personal Loan Interest Rates with Other Lenders

Banks/NBFCs	Interest Rates (p.a.)
State Bank of India	10.05% - 15.05%
HDFC Bank	9.99% onwards
Axis Bank	9.99% onwards
ICICI Bank	10.45% onwards
Kotak Mahindra Bank	9.98% onwards
IndusInd Bank	10.49% onwards
IDFC FIRST Bank	9.99% onwards
Federal Bank	12.0% - 19.5 %
YES Bank	10.85% - 21.00%
Tata Capital	10.99% onwards
Aditya Birla Finance	10.99% onwards
L&T Finance	11.00% onwards
Hero Fincorp	Up to 30.00%
Piramal Finance	12.14% onwards
Poonawalla Fincorp	9.99% onwards
Moneyview	14% onwards

Factors Affecting ICICI Bank Personal Loan EMI

Interest Rate: A high interest rate usually increases the EMI and overall interest cost, and vice- versa. Therefore, it is advisable to opt for lower interest rates to save on overall borrowing cost.
Loan Amount: The higher the loan amount, the higher the EMI and interest cost and vice versa.
Loan Tenure: Longer tenure reduces the EMI whereas shorter tenure increases the EMI.

ICICI Bank Personal Loan Amortisation Schedule

Suppose you borrow a loan amount of Rs. 20 lakh @ 10.45% p.a. for a tenure of 5 years, then the following will be your amortization schedule for 1 year. For the remaining period, the principal component will continue to increase at the same pace, while the interest portion will gradually decrease.

Month	EMI (₹)	Interest (₹)	Principal (₹)	Balance (₹)
1	42,938.28	17,416.67	25,521.61	19,74,478.39
2	42,938.28	17,194.42	25,743.86	19,48,734.52
3	42,938.28	16,970.23	25,968.05	19,22,766.47
4	42,938.28	16,744.09	26,194.19	18,96,572.29
5	42,938.28	16,515.98	26,422.30	18,70,149.99
6	42,938.28	16,285.89	26,652.39	18,43,497.60
7	42,938.28	16,053.79	26,884.49	18,16,613.11
8	42,938.28	15,819.67	27,118.61	17,89,494.51
9	42,938.28	15,583.51	27,354.76	17,62,139.74
10	42,938.28	15,345.30	27,592.98	17,34,546.76
11	42,938.28	15,105.01	27,833.27	17,06,713.49
12	42,938.28	14,862.63	28,075.65	16,78,637.84

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What Happens if you Miss Your ICICI Bank Personal Loan EMIs

If you miss your ICICI Bank Personal Loan EMIs, here is what usually happens:

Penal charges are applied.
Penal interest impacts the overall borrowing cost.
The credit score reduces.
Difficulty getting loans/credit cards in future.

How Can I Apply for a Personal Loan Online?

Get up to ₹40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

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FAQs

A personal loan EMI calculator is an online tool which helps in determining the overall borrowing cost, thereby, assessing the financial stability of the applicant.

Applicants need to enter the interest rate, loan amount and loan tenure in the personal loan EMI calculator and get your EMI, total interest cost and overall borrowing cost instantly.

Yes, you can modify the parameters of the personal loan EMI calculator to check for the most suitable loan amount, interest rate and loan tenure for you.

The higher the interest rate, higher the EMI and interest cost, whereas, lower the interest rate, lower the EMI and interest cost.

By trying multiple combinations of interest rate, loan amount and loan tenure, you can know the loan amount that fits in your monthly budget.

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Written By

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Reviewed By

Shamik Ghosh

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