ICICI Bank offers personal loans @ 10.85% p.a. onwards for loan amounts of up to Rs 50 lakh and for tenures of up to 6 years. ICICI Bank provides balance transfer facility of existing personal loan from other banks/NBFCS to ICICI bank at lower interest rates. The bank also offers overdraft facility to consumers maintaining their salary accounts with ICICI Bank.
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ICICI Bank Personal Loan Highlights |
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| Interest rate | 10.85%-16.65% p.a. |
| Loan Amount | Up to Rs 50 lakh |
| Tenure | 1-6 years |
| Processing Fee | Up to 2% of the loan amount |
| Minimum Monthly Salary | Rs 30,000 |
| Prepayment Charges |
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| Documentation |
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Note: Rates as of 5 May 2025
ICICI Bank
Up to ₹50L
10.85% - 16.65%
1-6 Years
Upto 2%
*Applicable for selected customers
ICICI Bank Personal Loan interest rates vary on the basis of the personal loan subtypes. However, ICICI Bank has not disclosed its personal loan interest rate matrix based on credit score, minimum monthly income, occupation profile, employers’ profiles, etc. of its personal loan applicants, as many lenders have done.
| Loan Product | Interest Rate (p.a.) |
| Personal Loan | 10.85%-16.65% p.a. |
| Flexicash (Overdraft facility to salary account holders) | 12.35%-14.10% |
| Personal Loan for NRIs | 10.85% onwards |
ICICI Bank levies the following fees and charges on personal loans:-
| Particulars | Charges |
| Processing Fee | Up to 2% of the loan amount + GST |
| 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 loan amount of up to Rs 50 lakh | |
| Loan Cancellation Charges | a. Nil – If the loan is cancelled within the cooling off period (i.e.,15 days from the date of disbursement)
b. Cancellation fee of Rs 2,500 if the loan is cancelled after the cooling off period |
| Part payment charges | 3% plus 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 |
| Charges of late payment | 5% p.a. on the overdue EMI until repayment |
| EMI Bounce Charges | Rs 500 per bounce + GST |
| Repayment mode swap charges | Rs 500 per transaction + GST |
Also Read: Personal Loan Processing Fee charged by other banks and NBFCs.
Below-mentioned are various types of personal loan schemes offered by ICICI Bank:-
ICICI Bank has set its personal loan eligibility criteria based on the job profile, age, minimum monthly income, total work experience and business vintage (in the case of self-employed individuals) of its personal loan applicants. Below mentioned are the ICICI Bank Personal Loan eligibility criteria set by ICICI Bank.
Also Read: Personal Loan for salaried
The documents required by ICICI Bank during personal loan application are given below:-
Also Read: Personal Loans for Self-employed individuals
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
ICICI Bank offers instant personal loans to its select existing customers. Such applicants can avail online pre-approved instant personal loans from ICICI Bank through the official website of the bank. Applicants can also apply for instant personal loans digitally through the iMobile Pay app of ICICI Bank. Prospective applicants can also apply for online instant personal loan through Paisabazaar.
ICICI Bank has partnered with Paisabazaar for personal loans. Whether you’re looking for quick funds or exploring better loan options, Paisabazaar lets you apply for ICICI Bank personal loans alongside offers from other top lenders like IDFC FIRST Bank, Axis Bank, and IndusInd Bank – all in one place.
Here’s how you can get started:
If you’re currently repaying a personal loan from another bank or NBFC, switching to ICICI Bank at lower interest rates could help you reduce your interest cost. ICICI Bank offers a personal loan balance transfer facility with minimal paperwork and the option to avail a top-up loan if required. Personal loan borrowers who have paid a minimum of 12 EMIs on their existing loan are eligible for the balance transfer facility.
| Banks | ICICI | IndusInd | Axis | HDFC | Kotak |
| Rates | 10.85%-16.65% p.a. | 10.49% p.a. onwards | 11.25% p.a. onwards | 10.90%-24.00% p.a. | 10.99% p.a. onwards |
| Processing Fee | Up to 2% of the loan amount | Up to 3% of the loan amount | Up to 2% of the loan amount | Up to Rs 6,500 | Up to 5% of the loan amount |
| Max. Loan Amount | Up to Rs 50 lakh | Up to Rs 50 lakh (Up to Rs 5 lakh through Paisabazaar) | Up to Rs 10 lakh | Up to Rs 40 lakh | Up to Rs 35 lakh |
| Min. Monthly Salary Required | Rs 30,000 | Rs 25,000 | Rs 15,000 for Axis Bank customers; Rs 25,000 for non-Axis Bank customers | Rs 25,000 | Rs 25,000 for Kotak Bank Salary account holders, Rs 30,000 for Non-Kotak Bank Salary account holders |
Below are the customer care details of ICICI Bank:-
The current interest rates for ICICI Bank Personal Loans range from 10.85% to 16.65% p.a., depending on the applicant’s profile and the bank’s internal policies.
You can apply through ICICI Bank’s official website, the iMobile app, or at Paisabazaar by filling in your required details and uploading documents digitally.
ICICI Bank charges a processing fee of up to 2% of the loan amount.
ICICI Bank has not specified the cut-off credit score for its personal loan applicants. However, credit scores of 750 and above usually increase the chances of availing personal loan at lower interest rates.
Upon submission of complete documentation, ICICI Bank claims to approve personal loans within 72 hours.
Salary slips or income proof are usually required for availing personal loans. However, pre-approved customers may get offers without submitting income documents.
ICICI offers personal loans to self-employed individuals meeting the income and eligibility criteria.
ICICI Bank provides top-up loans on existing personal loans, subject to the eligibility and repayment history of its borrowers. The top-up amount can range from Rs 50,000 to Rs 50 lakh.
ICICI Bank charges 3% of the outstanding principal as prepayment charges after the first EMI. However, no charges are levied if 12 or more EMIs have been repaid.
You can avail a personal loan of up to Rs 50 lakh, depending on your income and repayment capacity.
You can track your application status online using the loan reference number on ICICI Bank’s official website or via customer care.
You can contact ICICI Bank customer care at 1800 1080.
ICICI Bank offers a personal loan balance transfer facility with interest rates starting from 10.85% p.a. and minimal paperwork for eligible applicants.
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