ICICI Personal Loan: Eligibility, Interest Rate & Apply Online

Home Personal Loan ICICI Bank
loading Apply for Personal Loan Starting From 10.50%*
loading

Get ICICI Bank Personal Loan at lowest interest rates

  • Loan Amount: Upto Rs. 20 lakh
  • Processing Fees: Upto 2.25%

Apply for Personal Loan Starting From 10.50%*

Digits Only
Error: Please enter valid amount.
Note: The amount of loan you desire to borrow
Digits Only
Error: Please enter valid amount.
Note: Income is required to check the suitable personal loan for you
Error: Please enter valid amount.
Note: Your company's annual sales/turnoveryou.
Error: Please select mode of salary received
Error: Please select your residence type
Digits Only
Error: Please enter valid amount.
Error: Please select profession years
+91
Error: Please enter a valid number.
Note: We may verify this number later using OTP
Error: Please select current city
Error: Please enter a valid name.
Error: Please enter a valid email address.
Error: Please enter a valid PAN number.
Error: Please enter a valid date of birth.
Error: Please enter a valid Pin Code.

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :19/01/2020

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

CIBIL TERMS AND
CONDITIONS

To,
TransUnion CIBIL Limited
[Formerly known as Credit Information Bureau (India) Limited]
One Indiabulls building ,Unit No 1901 – 1905,
19th Floor, Tower 2A-2B, Jupiter Mill compound,
Senapati Bapat Marg, Lower Parel, Mumbai 400 013

Sub: Grant of Consent

Dear Sirs,

In connection with submission of the application for my credit information offered by CIBIL (“Consumer Credit Information”) through Paisabazaar (referred to as the “Company”) and delivery of the Consumer Credit Information to the Company, I hereby acknowledge and agree to the following:

A. The Company is my lawfully appointed agent and he / it has agreed to be my agent for the purposes, including, without limitation, to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, and the Company has granted its consent for being appointed for the aforesaid purpose.

B. I grant my unconditional consent to the Company to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, as the case may be, and the Company has granted its consent for being appointed for the aforesaid purpose. I hereby represent and acknowledge that: the Terms of Understanding in relation to the use of the Consumer Credit Information has been agreed between me and the Company.

C. I hereby expressly grant unconditional consent to, and direct, TUCL to deliver and / or transfer my Consumer Credit Information to the Company on my behalf.

D. I shall not hold TUCL responsible or liable for any loss, claim, liability, or damage of any kind resulting from, arising out of, or in any way related to: (a) delivery of my Consumer Credit Information to the Company ; (b) any use, modification or disclosure by the Company of the contents, in whole or in part, of my Consumer Credit Information , whether authorized or not; (c) any breach of confidentiality or privacy in relation to delivery of my Consumer Credit Information to the Company ; (d) for any use made by the Company which is contrary to the Agreement entered into between the Company and TUCL

E. I acknowledge and accept that: (a) TUCL has not made any promises or representations to me in order to induce me to provide my Consumer Credit Information or seek any consent or authorization in this regard; and (b) the implementation of the Agreement between TUCL and the Company is solely the responsibility of the Company.

F. I agree that I may be required to record my consent / provide instructions electronically and in all such cases I understand that by clicking on the "I Accept" button below, I am providing "written instructions" to Paisabazaar authorizing Paisabazaar to obtain my Consumer Credit Information from my personal credit profile from TransUnion CIBIL LIMITED, [formerly known as Credit Information Bureau (India) Limited]]. I further authorize Paisabazaar to obtain such information solely to confirm my identity and display my Consumer Credit Information to me. Further in all such cases “By checking this box and clicking on the ‘Authorize button, I agree to the terms and conditions, acknowledge receipt of TUCL privacy policy and agree to its terms, and confirm my authorization for Paisabazaar to obtain my Consumer Credit Information.

G. I understand that in order to deliver the product to me, I hereby authorize Paisabazaar, to obtain my Consumer Credit Information from TUCL.

H. By submitting this registration form, I understand that I am providing an express adhoc one-time written instructions for Paisabazaar to request and receive information about me from third parties, including but not limited to a copy of my consumer credit report and score from consumer reporting agencies, at any time for so long as I have an active Paisabazaar account. I further authorize Paisabazaar to retain a copy of my information for use in accordance with the terms of use of this service, Paisabazaar’s Terms of Use and Privacy Policy.

I. I UNDERSTAND THAT THE PRODUCT IS PROVIDED ON AN “AS-IS”, “AS AVAILABLE” BASIS AND TUCL EXPRESSLY DISCLAIMS ALL WARRANTIES, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.

J. I shall not sue or otherwise make or present any demand or claim, and I irrevocably, unconditionally and entirely release, waive and forever discharge TUCL , its officers, directors, employees, agents, licensees, affiliates, successors and assigns, jointly and individually (hereinafter “Releasee”), from any and all manner of liabilities, claims, demands, losses, claims, suits, costs and expenses (including court costs and reasonable attorney fees) (“Losses”), whatsoever, in law or equity, whether known or unknown, which I ever had, now have, or in the future may have against the Releasee with respect to the submission of my Consumer Credit Information and / or my decision to provide TUCL L with the authority to deliver my Consumer Credit Information to the Company . I agree to defend, indemnify, and hold harmless the Releasee from and against any and all Losses resulting from claims made against TUCL L by third parties arising from and in connection with this letter.

K. I agree that the terms of this confirmation letter shall be governed by the laws of India and shall be subject to the exclusive jurisdiction of the courts located in Mumbai in regard to any dispute arising hereof. TUCL is entitled to assign its rights hereunder to any third person without taking my prior written consent.

Yours faithfully,
Name :

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :19/01/2020

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

EQUIFAX TERMS AND
CONDITIONS

I Mr./Ms. -------------------- ---------------------residing at ------------------------ ---------------------------------------- do hereby authorise Paisabazaar Team ,to do all acts on my behalf as may be necessary including to execute/sign application(s), make payment of applicable fees* and generally to all other acts as may be necessary to receive, on my behalf and at my request, my Credit Information Report (CIR) from Equifax Credit Information Services Private Limited("Equifax") at the following address/email id:

I hereby confirm that all the powers hereby conferred may be exercised by officer(s) or manager(s) / agent(s) / employees of the Paisabazaar who is duly authorized by the Paisabazaar.

I hereby confirm, agree, undertake and accept that I shall at all times be solely responsible for all the above actions and omissions of the Paisabazaar shall be binding on me as though such actions had been carried out by me directly. I further confirm that my CIR shall be used only for the purpose as mentioned in the attached standard terms and conditions and I shall be solely liable for, and indemnify and hold harmless Equifax for and against, any and all third party claims or damages or proceedings of any kind, arising from or in connection with (a) any misrepresentations, incorrect information or omission of any critical information in my application, or (b) furnishing my CIR based on this authorization letter, and shall not at any time hold Equifax or its affiliates and their respective officers, directors, employees or representatives liable in this respect.

I hereby also confirm that I have only appointed Paisabazaar to be my authorized agent/representative for collection of my CIR.

I undertake to keep Equifax intimated and informed at all times, of any renewals or termination of the authorization to Paisabazaar or any amendments, modifications or changes in the terms governing the obligations or my relationship with Paisabazaar.

I shall at all times co-operate with Equifax and execute and deliver to Equifax such instruments and documents and take such other actions as may be required by Equifax from time to time in connection with this authority letter.

By signing on this authorization letter, I hereby acknowledge and accept the Standard Terms and Conditions mentioned above.

Date : 19/01/2020

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :19/01/2020

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

EXPERIAN TERMS AND
CONDITIONS

YOU HEREBY APPOINT PAISABAZAAR AS YOUR AUTHORISED REPRESENTATIVE TO RECEIVE YOUR CREDIT INFORMATION FROM EXPERIAN.

YOU HEREBY IRREVOCABLY AND UNCONDITIONALLY CONSENT TO SUCH CREDIT INFORMATION BEING PROVIDED BY EXPERIAN TO YOU AND PAISABAZAAR AND YOU HEREBY AGREE, ACKNOWLEDGE AND ACCEPT THE TERMS AND CONDITIONS SET FORTH HEREIN. YOU HEREBY ALSO AGREE AND ACKNOWLEDGE THAT FOR PAISABAZAAR TO SERVICE YOU AS A CUSTOMER, THE CREDIT INFORMATION SHALL BE SHARED BY EXPERIAN WITH YOU AND PAISABAZAAR ON A MONTHLY BASIS. YOU FURTHER ALSO AGREE AND CONSENT TO RECEIVE SUCH CREDIT INFORMATION DIRECTLY FROM EXPERIAN AND ALSO THROUGH YOUR PAISABAZAAR ACCOUNT AS PER YOUR INDEPENDENT REGISTRATION WITH PAISABAZAAR.

Please read the Terms and Conditions of this document carefully before accepting. By clicking on the "I ACCEPT" button below, you are expressly agreeing to access the Experian Credit Information Report and Credit Score (as defined in the Important Information Section below) (together referred as "Credit Information") and share a copy of the Credit Information with Paisabazaar in the "as is" format. Please click on the link below to read and understand the Important Information section below.

** This document is an electronic record in terms of the Information Technology Act, 2000 and Rules made there under, and the amended provisions pertaining to electronic records.

Information Collection, Use, Confidentiality, No-Disclosure and Data Purging

PAISABAZAAR/ We/ Us can only access your Credit Information as your authorized representative and we shall use the Credit Information for limited end use purpose consisting of and in relation to the services proposed to be availed by you from us on the Website. We shall not aggregate, retain, store, copy, reproduce, republish, upload, post, transmit, sell or rent the Credit Information to any other person and the same cannot be copied or reproduced other than as agreed herein.

We shall protect and keep confidential the Credit information both online and offline and use best in class security measures in line with applicable laws. The Credit Information shared by You, or received on your behalf shall be destroyed, purged, erased promptly upon the earlier of: (i) your written request to terminate this relationship with Paisabazaar (ii) the completion of provision of the Services by us to you.

Governing Law and Jurisdiction The relationship between you and the Parties shall be governed by laws of India and all claims or disputes arising there from shall be subject to the exclusive jurisdiction of the courts of [Mumbai].

Definitions: Capitalised terms used herein but not defined above shall have the following meanings:
"Credit Information Report" means the credit information / scores / aggregates / variables or reports which shall be generated by Experian;
"Credit Score" means the score which shall be mentioned on the Credit Information Report which shall be computed by Experian.
"CICRA" shall mean the Credit Information Companies (Regulation) Act, 2005 read with the Credit Information Companies Rules, 2006 and the Credit Information Companies Regulations, 2006, and shall include any other rules and regulations prescribed thereunder.
PLEASE READ THE ABOVE MENTIONED IMPORTANT INFORMATION AND CLICK ON "ACCEPT" FOLLOWED BY THE LINK BELOW TO COMPLETE THE AUTHORISATION PROCESS FOR SHARING OF YOUR CREDIT INFORMATION BY EXPERIAN WITH YOU AND PAISABAZAAR, IN ITS CAPACITY AS YOUR AUTHORISED REPRESENTATIVE.
BY CLICKING "ACCEPT" YOU AGREE AND ACCEPT THE DISCLAIMERS AND TERMS AND CONDITIONS SET OUT HEREIN. THE TERMS AND CONDITIONS MENTIONED HEREIN MAY CHANGE IN ORDER TO COMPLY WITH GOVERNING LAWS OF THE COUNTRY AND THE CONSUMER SHALL BE BOUND TO ANY CHANGES TO THIS AGREEMENT

Name :
Date : 19/01/2020

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :19/01/2020

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

CRIF HIGH MARK TERMS
AND CONDITIONS

This End User Agreement (the "Agreement") is made between you (the "User" or "You") and Paisabazaar Marketing and Consulting Pvt Ltd ("PaisaBazaar"), a private limited company having its registered office at Plot No 119, Sector-44, Gurgaon-122001, Haryana ("PAISABAZAAR", "Us" or "We", which term shall include its successors and permitted assigns). The User and PAISABAZAAR shall be collectively referred to as the "Parties" and individually as a "Party".

YOU HEREBY APPOINT PAISABAZAAR AS YOUR AUTHORISED REPRESENTATIVE TO RECEIVE YOUR CREDIT INFORMATION FROM CRIF HIGH MARK. BY EXECUTING THIS AGREEMENT / CONSENT FORM, YOU ARE EXPRESSLY AGREEING TO ACCESS THE CRIF HIGH MARK CREDIT INFORMATION REPORT AND CREDIT SCORE, AGGREGATE SCORES, INFERENCES, REFERENCES AND DETAILS (AS DEFINED BELOW)(TOGETHER REFERRED AS "CREDIT INFORMATION"). YOU HEREBY ALSO IRREVOCABLY AND UNCONDITIONALLY CONSENT TO SUCH CREDIT INFORMATION BEING PROVIDED BY CRIF HIGH MARK TO YOU AND PAISABAZAAR BY USING CRIF HIGH MARK TOOLS, ALGORITHMS AND DEVICES AND YOU HEREBY AGREE, ACKNOWLEDGE AND ACCEPT THE TERMS AND CONDITIONS SET FORTH HEREIN. YOU ALSO ACKNOWLEDGE THAT YOU SHALL NOT RAISE ANY CLAIM OR HOLD LIABLE CRIF HIGH MARK CREDIT INFORMATION SERVICES PRIVATE LIMITED IN RELATION TO YOUR CREDIT INFORMATION REPORT AND CREDIT SCORE PROVIDED OR TO BE PROVIDED BY CRIF HIGH MARK TO PAISABAZAAR.

Terms and Conditions: Information Collection, Use, Confidentiality, No-Disclosure and Data Purging PAISABAZAAR shall access your Credit Information as your authorized representative and PAISABAZAAR shall use the Credit Information for limited end use purpose consisting of and in relation to the services proposed to be availed by you from PAISABAZAAR. PAISABAZAAR shall not aggregate, retain, store, copy, reproduce, republish, upload, post, transmit, sell or rent the Credit Information to any other person and the same cannot be copied or reproduced other than as agreed herein.

The Parties agree to protect and keep confidential the Credit Information both online and offline. The Credit Information shared by you, or received on by us on your behalf shall be destroyed, purged, erased promptly upon request from the consumer or the consumer withdrawing the consent to retain such credit information / reports by deleting/deactivating the consumers account with Paisabazaar.

Governing Law and Jurisdiction Definitions: Capitalised terms used herein but not defined above shall have the following meanings:
" Business Day" means a day (other than a public holiday) on which banks are open for general business in Gurgaon and Mumbai.
" Credit Information Report" means the credit information / scores/ aggregates / variables / inferences or reports which shall be generated by CRIF High Mark;
" Credit Score" means the score which shall be mentioned on the Credit Information Report which shall be computed by CRIF High Mark.
" CICRA" shall mean the Credit Information Companies (Regulation) Act, 2005 read with the Credit Information Companies Rules, 2006 and the Credit Information Companies Regulations, 2006, and shall include any other rules and regulations prescribed thereunder.
IN CASE THERE IS ANY DISCREPANCY OR INABILITY IN COMPLETION OF ONLINE AUTHENTICATION, PLEASE SUBMIT YOUR SELF ATTESTED KYC DOCUMENTATION IN SCANNED COPIES FOR SHARING OF YOUR CREDIT INFORMATION BY CRIF HIGH MARK WITH YOU AND PAISABAZAAR (YOUR AUTHORISED REPRESENTATIVE).
ONLINE SUBMISSION - DOES NOT REQUIRE SIGNATURE AND EXECUTION"

Name :
Date :19/01/2020

More

By submitting this form, I agree to Term of Use

*Offers are from Paisabazaar's partner Banks & NBFCs.

OTP Verification

Verify your mobile

Please enter the OTP we sent via SMS

Didn’t receive your OTP? Send it again
Your OTP resend limit exceeded. Please try again later.
हिंदी में पढ़े
Updated: 17-01-2020 10:12:03 AM

ICICI Personal Loan is an ideal financial solution for funding a planned expense or a financial emergency. ICICI Bank offers personal loans of up to Rs. 20 lakh, which can be easily availed with minimal documentation and quick disbursal. The interest rate for this loan remains the same throughout the tenure that ranges from 12 to 60 months.

 

Features of ICICI Personal Loan

  • Quick Loan Disbursal: ICICI Bank promises to credit the desired loan amount in your account within a period as short as 3 seconds. This feature is available for select customers upon completion of online verification and acceptance of final offer
  • Loan amount: ICICI Bank provides personal loans up to Rs. 20 lakh with flexible end-use. All one needs to do is apply online or visit any nearby branch to get their loan application processed
  • Fixed Interest Rate: ICICI Bank personal loans feature fixed interest rate starting from 11.25% which remains constant over the loan tenure
  • Minimal Documentation: ICICI Bank’s personal loan application process is hassle-free and requires minimal documentation, thus making it extremely easy and convenient for individuals who wish to apply
  • Flexible Loan Tenure: The loan tenure ranges from 12 months to 60 months. Customers have the option to choose the loan tenure according to their feasibility
  • Personal Loan Balance Transfer: With ICICI Bank, you can also opt for Personal Loan Balance Transfer whereby anyone can reduce their EMIs by transferring their existing high interest personal loan to ICICI at a lower rate

ICICI Personal Loan Interest Rates

ICICI Personal Loan interest rates ranging from 11.25% to 17.99% p.a. Special interest is applicable to personal loan for NRI which starts from 15.49% p.a. Specific interest rates applicable to an applicant are dependent upon multiple factors including but not limited to credit score, loan amount, customer segment and location.

Types of ICICI Personal Loan Products

 Depending on the end-use, ICICI Bank personal loans can belong to one of the following categories:

Type of Personal LoanInterest Rate (p.a.)
Wedding LoanStarting at 11.25% p.a.
Home Renovation Loan
Holiday Loan
Fresher Funding
Top up LoanStarting at 11.25% p.a.
NRI Personal LoanStarting at 15.49% p.a.

a. Wedding Loan

Despite saving for years for your child’s wedding, there might be last minute requirement for extra funds to deal with expenses like venue booking, guest accommodation, catering, shopping, jewellery, invitation cards, etc. With ICICI Bank, one can easily apply for a Wedding Loan and get the necessary funds. While actual loan disbursal and interest rate may vary according to various criteria, some of the key features of ICICI Bank’s Wedding Loan are as follows:

  • Wedding Loan interest rates start as low as 11.25% p.a.
  • One can avail loan amount up to Rs. 20 Lakh
  • The documentation process is easy and minimal so the loan application is processed quickly
  • No collateral/security is required

b. Home Renovation Loan

ICICI Bank offers home renovation loan for individuals who wish to get their home renovated. This personal loan can fund vital repairs or help the applicant get new fittings, fixtures and furniture for their home. Some key features of ICICI Bank Home Renovation Loan are:

  • Interest rate for ICICI’s Home Renovation Loan starts at as low as 11.25%
  • Individuals may be eligible for a loan amount up to Rs. 20 Lakh to get their home renovated
  • Home renovation loan from ICICI Bank requires minimal documentation making the entire loan process hassle free
  • The loan amount typically gets credited into the account within 72 hours once the bank approves your application

c. Holiday Loan 

A dream vacation is something we look forward to and ICICI Bank’s holiday loan can help make sure that you can make it a reality with minimal hassle. This personal loan from ICICI can fund a range of vacation-related expenses including flight ticket booking, hotel accommodations, guided tours, etc. Key features of ICICI’s Holiday Loan are:

  1. Interest Rates for Holiday Loans start at 11.25% p.a.
  2. You can easily avail an amount of up to Rs 20 Lakh so your dream vacation won’t be spoilt due to a financial crunch
  3. Simplified and minimal documentation ensures that funding your vacation is simple and easy
  4. Quick processing and disbursal of loan which is credited directly to your account 

d. Fresher Funding 

A majority of unsecured personal loans are targeted at individuals with a regular income however ICICI’s Fresher Funding is different. This loan option from ICICI is a unique financial product designed to help a fresher i.e. a recent graduate seeking their first job. Some key features of ICICI Bank Fresher Funding personal loan are as follows:

  • Freshers can avail a personal loan up to Rs 1.5 lakh under this scheme
  • The applicant must to be at least 21 years old to avail Fresher Funding Personal Loan from ICICI Bank
  • The rate of interest for Fresher Funding depends on the profile of the loan applicant, the credit history/score, age and location of the applicant 

e. NRI Personal Loan

Understanding the needs and dreams of NRIs, ICICI Bank offers a personal loan specifically for NRIs. The primary loan applicant needs to be an Indian resident and the co-applicant NRI must be a close relative. ICICI Bank Personal Loan for NRIs includes the following features

  • ICICI Bank offers NRIs personal loans up to Rs. 10 lakh with flexible end use
  • The interest rates for NRI Personal Loan start at 15.49% p.a.
  • The loan features a tenure of up to 36 months 

f. Top up Loan

ICICI Bank offers top-up loan on existing personal loans to help individuals meet their incremental financial requirements. There are two top up loan options offered by ICICI to an applicant. You can either choose to get a new loan in addition to your existing personal loan to meet a new financial requirement or get a top-up on your existing personal loan. In case you opt for two separate loans, you will need to pay separate EMIs – one for the existing loan and another for the new loan. However, if you opt for a top-up on the existing loan amount you pay a single consolidated EMI on the entire loan amount. A Top up Loan includes the following features:

  • The interest rates start at as low as 11.25% p.a.
  • These loans do not require any collateral/security
  • The documentation involved is minimal hence processing and disbursal are quick

Also Read: ICICI Bank Instant Personal Loan

Eligibility

To avail ICICI Bank personal loan, the following eligibility criteria need to be considered:

For salaried professionals:

Particulars of ApplicantEligibility Criteria
Age23-58 Years
Minimum Monthly Net SalaryRs. 17,500 (Rs. 25,000 in case the applicant is residing in Delhi or Mumbai; Rs. 20,000 if the applicant is residing in Hyderabad, Chennai, Bangalore, Kolkata or Pune)
Minimum Total Working Experience2 Years
Years in Current Residence1 Year (min.)

Note: The criteria mentioned above may change periodically based on ICICI Bank’s internal criteria. The minimum salary requirement may differ based on the profile of the customer (relationship with the bank, type of employer, etc.)

For self-employed individuals:

Particulars of ApplicantEligibility Criteria
Age28 Years (for self-employed individuals) & 25 Years (for doctors) – 65 Years
Minimum Turnover●     Rs. 15 lakh (for professionals)

●     Rs. 40 lakh (for non-professionals)

Business Stability●     At least 5 years in current business

●     Practicing for at least 3 years (in case of a doctor)

Minimum Profit After Tax●     Rs. 2 lakh (For Self Employed Individuals/Proprietorship Firm)

●     Rs. 1 lakh (For non-professionals)

Relationship With The Bank●     At least 1 year Liability relationship (savings or current account)
or
●     Asset relationship (Loan) either closed or live in the last 36 months & repayment track (if any)  as required

Documents required for Loan Application

The following documents are required to avail ICICI Bank Personal Loan:

For salaried professionals:

  • Identity Proof: PAN/Aadhaar/Passport/Voter ID/Driving License, etc. (any one)
  • Residence Proof: Utility Bill (less than 3 months old)/Valid Rent Agreement, etc. (any one)
  • Salary slips for last 3 months
  • Latest 3 months bank statement of salary account
  • 2 passport size photographs

For self- employed individuals

  • KYC Documents: Proof of Identity, DOB proof, Address proof, etc.
  • Proof of Residence: Rent Agreement / Utility Bill (less than 3 months old), etc. (any one)
  • Income proof (audited financial report for the past two years)
  • Proof of office address
  • Bank statement of the previous 6 months
  • Proof of business continuity
  • Proof of residence/office ownership

How to Apply for ICICI Personal Loan with Paisabazaar?

The application process for ICICI Bank Personal Loan with Paisabazaar involves the following steps:

How to Apply for ICICI Personal Loan with Paisabazaar

1. Visit Paisabazaar.com and fill out the online application form to check offers.

2. You will receive offers from several banks listed as per the chances of approval.

3. Choose a prospective lender from the list or contact Paisabazaar for assistance.

4. Complete and submit your loan application online.

Know more: How to Apply For ICICI Bank Personal Loan Online

Personal Loan Verification Process

The following are key steps of the personal loan verification process after online submission of your personal loan application on Paisabazaar.

Step1. Paisabazaar will forward your loan application to you chosen lender and typically within 48 hours you will receive a call from the lender’s representative.

Step2. The prospective lender will schedule pickup of your KYC, income, etc. documents or provide an option to upload them online. These documents will be used to verify your application.

Step3. Once the lender’s verification is completed and your loan is approved, you will receive another call to verify the loan offer and ask for your consent for disbursal.

Step4. After loan approval and successful verification, the loan is usually disbursed within 48 hours.

Note: The above mentioned turnaround time for personal loan verification/disbursal may vary based on lender’s internal requirements as well as other criteria.

Check ICICI Personal Loan Application Status

The process to check ICICI Personal Loan Application Status includes the following steps:

  1. Visit the official website of ICICI bank, Click on ‘Products’ and select ‘Personal Loans’.

On official website, click on products and select personal loans

2. On next page that open hereafter, click on ‘More’ and select ‘Check Loan Application Status’.

click on ‘More’ and select ‘Check Loan Application Status’

3. Next, you can check your application status by entering details like your mobile number, date of birth and by either entering the OTP that you receive on your mobile number or via your application number.

Enter the required details like Mobile number, date of birth, etc.

Fees and other Charges

 The following are some of the key fees and charges associated with an ICICI Bank Personal Loan:

Prepayment Charges5% per annum of principal outstanding plus GST
Loan Processing Charges (Non-Refundable)Up to 2.25% per annum of Loan Amount plus GST
Loan Cancellation ChargesRs 3000/- plus GST
EMI Bounce ChargesRs 400/- per bounce plus GST
Repayment Mode Swap ChargesRs 500/- per transaction plus GST
Additional Interest on Late Payment24% p.a. (2% per month)

How to Login on ICICI Bank Portal 

  1. Visit the official website of ICICI Bank.
  2. On the top right corner of the page click on ‘Login’.
  3. Login using your User ID and Password or your registered mobile number

Know More About ICICI Personal Loan Login

ICICI Personal Loan Statement

Customers can download the bank’s personal loan statement by following the steps given below:

  1. Visit the official website of the bank.
  2. Click on ‘Get in Touch’ and select ‘Service Requests’ from the drop down list.
  3. On the subsequent page that opens, under the ‘Loans’ menu, select ‘Personal Loan Related’.
  4. Next, click on ‘Request for Statement of Loan Account’.
  5. Login using your User ID and password or using your registered mobile number and OTP to avail the bank’s personal loan statement.

EMI Calculation

The rate of interest for ICICI Bank Personal Loan varies between 11.25% to 22% p.a. The table below depicts a sample of loan amounts against different loan tenures and interest rates along with monthly EMIs.

Loan Amount (Rs.) and Interest RateMonthly EMI Payout (Rs.)
1-year loan tenure2-year loan tenure3-year loan tenure4-year loan tenure5-year loan tenure
5 lakh @ 13% p.a.Rs. 44,659Rs. 23,771Rs. 16,847Rs. 13,414Rs. 11,377
10 lakh @ 15% p.a.Rs. 90,259Rs. 48,487Rs. 34,666Rs. 27,831Rs. 23,790
20 lakh @ 11.25% p.a.Rs. 1.76 lakhRs. 93,448Rs. 65,715Rs. 51,935Rs. 43,735

ICICI Personal Loan Top Up

ICICI Bank offers top-up loan where one can opt for a top-up on their existing personal loan or an altogether fresh loan in case of additional financial requirement. In case of a top up loan, you can get a consolidated EMI for the existing loan plus the top-up loan amount. The key features of a top-up loan including interest rate and tenure are similar to the features of an ICICI Bank Personal Loan.

Comparison of ICICI Personal Loan vs. Other Lenders

ParticularsICICI BankCiti BankAxis BankHDFC BankBajaj Finserv
Interest Rate11.25% to 22.00%Starting from 10.50%11.49% to 17.49%10.75% to 21.30%Starting from 12.99%
Tenure12 to 60 months12 to 60 months12 to 60 months12 to 60 months12 to 60 months
Loan amountUpto Rs. 20 lakhUpto Rs. 30 lakhRs. 50,000 to Rs. 15 lakhUpto Rs. 15 lakhUpto Rs. 25 lakh
Processing FeeUpto 2.25% of loan amount plus GSTUpto 3% of the loan amount2% of loan amount plus GSTUpto 2.50% of the loan amountUp to 4.13% of the loan amount

ICICI Bank Customer Care

Customers can contact the company’s customer can via any of the following means:

  • By Phone: You can call ICICI Bank on 1860-120-7777 (toll free)
  • Callback Request: You can also request a call back by visiting the bank’s website
  • Online Chatbot: You can also get your queries answered by the iPal chatbot online
  • Branch Visit: You can visit the nearby ICICI branch to get your queries

Find all details of ICICI Bank Personal Loan Customer Care

Benefits of Applying a Personal Loan on Paisabazaar.com

 There are several advantages of applying for a personal loan on Paisabazaar.com:

  • Paisabazaar.com helps you compare key personal loan features such as interest rate, processing fees, foreclosure charges of various personal loan providers on a single platform
  • You can automatically compare the EMI of different personal loan options to help you decide the most suitable option
  • The completely online platform eliminates the need to physically visit the prospective lender’s branch office
  • Customers can access the Paisabazaar website anytime and anywhere at their own convenience
  • Once customers have applied for a personal loan through the company’s website they can track their loan status online using the application number provided

Important Aspects 

  • Different interest rates and features/charges should be compared before applying for a personal loan to avail the best deal
  • Don’t apply for a personal loan with multiple lenders simultaneously. This may lead to an increase the number of hard inquiries for your credit report and may adversely affect your chances of approval
  • Evaluate the complete cost of the loan. Interest is not the only cost that you need to pay. Other charges like processing fee, prepayment fee and late payment fee might also be considered while deciding upon a particular personal loan
  • Borrow only what you need and can pay back. Don’t borrow simply because you are eligible to borrow a higher amount
  • Check your credit score before applying for a loan. It is one of the first things that lenders consider before lending money to a person. Low credit score might lead to the rejection of your loan application or an increase in the interest rate charged by the bank

Know More About ICICI Bank Personal Loan Preclosure Charges

FAQs

Q1. What is the maximum personal loan amount that can be sanctioned by ICICI Bank?

ICICI Bank offers personal loans up to Rs. 20 Lakh for various requirements.

Q2. Are foreclosure or full prepayment charges applicable for ICICI Personal Loan?

Foreclosure of personal loan from ICICI Bank is allowed only after the payment of 12 or more EMIs any time during the tenure of the loan. On full prepayment, standard pre-closure charges of 5% on principal amount prepaid +GST are applicable. For foreclosure of your personal loan, visit the nearest ICICI Bank branch with the following documents:

  • Prepayment request letter signed by the Loan Applicant
  • PAN Card (if the payment mode is cash and the amount is Rs 50,000 or more)

Also, the payments can be made through Cheque, Demand Draft or Cash. No part prepayment is allowed on Personal Loan for ICICI Bank.

Q3. Does the bank offer pre-approved personal loans?

Yes, ICICI Bank does offer pre-approved personal loans to select customers. These are limited time offers and usually feature predefined loan amounts and limits.

Q4. How much time is taken for the Personal Loan to be approved?

After submitting the completed loan documents, ICICI Bank personal loan are typically approved within 72 hours. The actual approval and disbursal time may differ subject to various factors.

Q5. Are there any top up offers on the existing Personal Loan?

Top up facility is offered to existing personal loan borrowers who have paid at least 12 EMIs of their current personal Loan. One can submit a request for a top up on their Existing Personal Loan through the following mediums:

Customer Care: One can contact the customer care for top up related questions (8:00 am to 8:00 pm) on toll free number 1860 120 7777

Internet Banking: Log in to www.icicibank.com with your User ID and Password. Go to the Main Page>>Select Loans options in My Accounts>>Click on Apply for Loans>>Under Personal Loan>>Click on Apply now>>Check your Eligibility and Click on Apply Now

ICICI Bank Branch: You can also visit the nearest ICICI Bank branch along with applicable KYC and income proof documents to apply for a top-up personal loan

Q6. Is Balance Transfer Facility offered in Personal Loan?

Yes Balance Transfer Facility on personal loan is offered when the loan applicant has paid at least 12 EMIs. Exact details regarding amount, interest rate and fees of the balance transfer offer vary according to individual applicant profile.

Q7. What is the Loan Repayment Tenure?

The Personal Loan from ICICI Bank can be repaid within 12 to 60 months. One can choose any repayment tenure as long as it is within its available tenure range.

Q8. How to repay the personal loan?

One can repay the loan in Equated Monthly Installments (EMIs). One can also get auto debit mandate activated if they have an existing account with ICICI Bank. EMI payments from bank account held with other banks can be made through NACH (National Automated Clearing House).

Q9. Do I have to pay additional charges for an ICICI Bank personal loan?

Yes. ICICI Bank charges processing fees in addition to interest rate charges when you avail a personal loan.

Q10. How can I update my mailing address, e-mail ID or mobile number registered under my loan account?

You can update your mailing address, e-mail ID or mobile number by visiting any ICICI Bank loan branch along with a valid photo ID proof. All you need to do is to submit an application along with supporting documents to get the information updated on the bank’s records.

Did you find this article helpful? Rate it.

ICICI Personal Loan: Eligibility, Interest Rate & Apply Online
(4.3/5 ) 1328 Reviews
Write a review
Jul 9 , 2019
4/5
Happy with the team

I am glad and happy with the team of Paisabazaar. They are too good.

Jul 9 , 2019
4/5
Team of executives

The team of executives of Paisabazaar guided me through the entire process of loan.

Jul 9 , 2019
4/5
Paisabazaar over bank

I literally have no regrets on getting my loan from Paisabazaar over bank.

Jul 9 , 2019
4/5
Collateral

I didn't have to put forth any collateral for getting my Axis bank loan approved.

Jul 9 , 2019
3/5
Special rate of interest

I got a special rate of interest on my Axis bank personal loan.

Jul 9 , 2019
4/5
Long tenure

I wanted a long tenure for my loan so I went ahead with the 5 year tenure on this loan.

Jul 9 , 2019
4/5
Online calculator

I used the online calculator of Paisabazaar to find out my applicable EMI on the Axis bank personal loan.

Jul 9 , 2019
4/5
Loan disbursed

Paisabazaar didn't take over 2 days to have my loan disbursed.

View All Reviews
Menu