- 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.
ICICI Bank Personal Loan EMI Calculator
Calculate Your Personal Loan EMI
Select Your Bank
₹
5K1Cr
8%30%
1Y 7Y
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.
Features of ICICI Bank Personal Loan EMI Calculator
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
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:
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FAQs
What is a personal loan EMI calculator?
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.
How does the ICICI Bank personal loan EMI calculator work?
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.
Can I change the parameters in a personal loan EMI calculator?
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.
How does the interest rate impact the personal loan EMIs?
The higher the interest rate, higher the EMI and interest cost, whereas, lower the interest rate, lower the EMI and interest cost.
Does the ICICI Bank EMI calculator tells the suitable loan amount?
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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