ICICI Bank Consumer Loan

The interest rates for ICICI Bank Consumer Durable Loans range between 9.95% to 28.64% p.a. The bank sets the interest rates for consumer loan applicants depending on the product segment, asset category, loan tenure, the brand and schemes provided by the original equipment manufacturers (OEMs), etc. In case of sub-vented products, the interest cost is borne by the OEMs instead of the borrower, thereby resulting in zero-cost EMI facility for the borrower. However, the GST levied on the interest component of zero-cost EMI loan has to be borne by the borrowers.

As the ICICI Bank Consumer Durable Loan is available only in select cities, prospective applicants wishing to finance their consumer durable appliances can consider ICICI Personal Loan or regular personal loan schemes from other lenders to finance the purchase of consumer durables. Those opting for consumer durable loans should compare the interest rates offered with the ICICI Bank Personal Loan interest rates as well personal loan interest rates offered by top lenders.

ICICI Bank Consumer EMI

ICICI Bank Cardless EMI

Customers who are at least 18 years old can avail ICICI Bank Consumer Loans. ICICI Bank will check the consumer durable loan eligibility for the Cardless EMI facility through the customer’s registered mobile number.

Upon sanction of the ICICI Bank Consumer Durable Loan, the consumer will provide his KYC documents, such as PAN Card or Aadhar Card or any other documents required by the bank.