ICICI Personal Loan

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How Much Personal Loan Should You Get

Self Employed Personal Loan

IDFC Personal Loan

Lending India website and blog No. 1 loan agency for Personal Loan, Business Loan, Home Loan, Mortgage Loan, Education Loan, Credit Card, Insurance in your location across India

How Much Personal Loan Should You Get

Self Employed Personal Loan

IDFC Personal Loan

ICICI Personal Loan

A Personal Loan from ICICI Bank helps you meet your diverse financial needs during an emergency. It is an unsecured loan and can be used for marriage expenses, paying the medical bills, going for your dream vacation or renovating your home.

ICICI Personal Loan

A Personal Loan from ICICI Bank helps you meet your diverse financial needs during an emergency. It is an unsecured loan and can be used for marriage expenses, paying the medical bills, going for your dream vacation or renovating your home. Irrespective of what your personal financial goals are, ICICI Bank Personal Loan offers you the perfect solution.

Avail of a Personal Loan of up to Rs 25 lakh and meet personal exigencies that can crop up anytime in life. The quick approval process of Personal Loans from ICICI Bank ensures you have an easy borrowing experience. Also, with our instant Personal Loan online services, you can get the funds within 3 seconds.

Benefits of Personal Loan
Apart from being the most reliable way to get funds for your immediate needs, availing of a Personal Loan has many benefits, which are:

Once your application is approved, the funds are credited to your account within three seconds.
We give you the flexibility to choose the loan tenure. You can apply for a loan from 12 to 72* months.

Our online services allow you to keep track of the application status and get any assistance you want 24×7.

Minimum documents needed.
The interest rate is fixed and it remains the same throughout the loan tenure.

You need not provide any collateral or security.
The benefits are applicable for select customers upon completion of online verification and acceptance of the final offer.

Types of Personal loan
Wedding Loan
Make the biggest day of your life the best day with wedding loans

Need urgent cash for venue booking, catering, jewellery, shopping, or guest accommodation? Then it makes total sense to go for a wedding loan. Focus on the biggest day of your life while being adequately prepared for it financially with ICICI Bank Personal Loan.

Holiday Loan
See new places, meet new people with holiday loans

No place is out of the reach of your loved ones, when our personal loans are with you. Take your much needed holiday and absorb new sights in far-away vistas. All travel expenses i.e. flights, stay, shopping, activities and other bills can now be paid instantaneously with personal loan funds.

Home Renovation
Upgrade your abode with home renovation loans

Spruce up the look of your abode, carry out vital repairs or get new home furniture, furnishings or fixtures the smart way. Turn your house into a home with ICICI Bank Personal Loan.

Top Up Loan
Easily meet shortfall in meeting financial needs with top-up loans

Need more money to support your existing ICICI Bank Personal Loans? Opt for top-up loans at attractive rates and fulfill the increased need for money easily. You can either combine it with an existing personal loan or treat it as a separate loan.

Fresher Funding
Just got your first salary and need a personal loan? Why not?

Who says that your first salary cannot make you eligible for a personal loan? With ICICI Bank Fresher Funding Loan, we make sure this is possible. Get up to Rs. 1,50,000 personal loan without any hassles.

Personal Loan eligibility
At ICICI Bank, we are committed to making the borrowing easy and accessible for all. We understand your needs, and therefore we have established the eligibility criteria based on simple parameters.

For salaried employees

You must be at least 23 years to be eligible for a Personal Loan and the maximum age limit is 58 years.
You must have a minimum monthly income of INR 30,000.
Apart from the above criteria, we also assess your credit score and existing debts (loans) to determine your repayment capacity.

Personal Loan interest rate
Whether you want to go on an exotic vacation or you want to pay your child’s university fees, you can get a Personal Loan at an affordable interest rate starting from 10.5%* per annum.

With a personal loan, you can :

Arrange for holidaying overseas
Buy a large appliance like refrigerator, television or laptop
Plan your marriage function as per your expectations
Spruce up your home interiors through home renovation.

Service Charges & Fees for Personal Loans
Enclosed find the service charges for an ICICI Bank Personal Loan

Prepayment of the loan is possible any time during loan tenure after payment of 12 or more EMIs, subject to payment of standard pre-closure charges of 5% + GST
Pre-closure statement issuance has a Turn Around Time (TAT) of 5 working days, once the request is registered. Interest would be applicable till the time pre-closure request is placed at the Asset Servicing Branch.
The waiver, if any, of the prepayment charges will be applicable provided:
The customer has paid 12 or more EMIs and
The pre-payment of the loan is done using customer’s own funds (Waiver on pre-payment charges is not applicable in cases of balance transfer)
Facility of part pre-payment is not available.

Documents Required for Personal Loans
ICICI Bank provides you with personal loan to fulfill your dreams with minimum documentation*

List of documents for Salaried
Proof of Identity:- Passport / Driving License / Voters ID / PAN Card (any one)
Proof of Residence:- Leave and License Agreement / Utility Bill (not more than 3 months old) / Passport (any one).
Latest 3 months Bank Statement (where salary/income is credited).
Salary slips for last 3 months.
2 Passport Size photographs.

List of documents for Self-Employed
KYC Documents : Proof of Identity; Address proof; DOB proof.
Proof of Residence:- Leave and License Agreement / Utility Bill (not more than 3 months old) / Passport (any one).
Income proof (audited financials for the last two years).
Latest 6 months Bank statement.
Office address proof.
Proof of residence or office ownership.
Proof of continuity of business.

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Personal Loan FAQ
How can I apply for a Personal Loan?
With ICICI Bank Personal Loans, you can get instant money for a wide range of your personal needs like renovation of your home, marriage in the family, a family holiday, your child's education, buying a laptop, medical expenses or any other emergencies.

With minimum documentation, you can now avail a personal loan for an amount up to Rs. 20 lakhs at attractive rates of interest.

Please click here if you want to apply for ICICI Bank Personal Loans.

Alternatively, the forms are available at our Branches. You can fill the form out and submit it at the nearest Branch.

What are the required documents under each program?
The documents required are KYC Documents + Income Documentation.

Do you offer top up on existing Personal Loans?
We offer Top Up facility if you have paid 12 EMI on the existing Personal Loan. You can Place the request for Top up on existing Personal Loan through the following Channels:

Internet Banking

Log in to www.icicibank.com with your user ID and password–> Main Page –> Select Loans options in My Accounts –> Click on Apply for Loans –> Under Personal loan option – Click on Apply now –> Check the Eligibility and Click on Apply Now

Customer Care:

You may also call our Customer Care (8:00 a.m. to 8:00 p.m.) with your STD code followed by 33667777.

ICICI Bank branch :

Please visit the nearest ICICI Bank Loan servicing branch along with your valid ID proof,Address Proof, 3 Months bank statement in which his salary is credited, Latest 3 months Salary slips and Form -16 for the current / previous financial year.

We request you to look for the nearest ICICI Bank Loan Servicing Branch in our website: www.icicibank.com >> Find ATM/Branch.

What is Personal Loan EMI Calculator?
EMI is short form “Equated Monthly Instalment” or the Amount that is payable per month if you take a personal loan of a certain amount for a certain period. The calculation of EMI depends on 3 main factors:

Personal Loan Amount – The Rupee value of the loan that you take
Personal Loan Interest Rate – The interest rate that the bank will charge for the Personal Loan
Tenure of Personal Loan – The period for which you take the Personal Loan

What is a personal loan?
A home loan or car loan will allow you to use the money to purchase a home or car respectively, but when you apply for personal loan, it need not be restricted to a specific use. Once the loan is disbursed, you can use it for any purpose as per your particular need.

Can I foreclose or prepay my Personal Loan?
Yes, you can prepay the entire loan outstanding anytime during the loan tenure after 12 instalments, subject to payment of standard pre-closure charges of 5% + GST.

No part prepayment is allowed. For prepayment of your Personal Loan, please visit the nearest ICICI Bank branch. We request you to carry the following documents to complete the process:

Request letter signed by the loan applicant
PAN Card (if the mode of payment is cash and the amount is more than Rs 50,000)
Payment can be made through cash, cheque or demand draft.

What is the procedure to prepay my Personal Loan?
For prepayment of your Personal Loan, please visit the nearest ICICI Bank Asset Servicing Branch. We request you to carry the following documents to complete the process:

Request Letter signed by the loan applicant
PAN Card (if the mode of payment is cash and the amount is more than Rs 50,000)
Payment can be made through cash, cheque or demand draft.

How much time will it take for my loan to be approved for Personal Loan?
Loans are approved within 72 hours of submission of complete documentation.

How do I repay the Personal loan?
You can repay the loan in Equated Monthly Instalments (EMIs). If you have an ICICI Bank Account, you can mandate us to directly debit the same through auto debit mandate or if you have an alternate bank account, then through NACH mandate.

Do I have to pay any additional charges for Personal Loan?
A processing fee is levied on loan, basis the defined pricing matrix followed by the bank. This fee will be deducted from the disbursal amount payable to you.

Can I pre-close or pre-pay my Business Instalment Loan (BIL)?
Yes. You can pre-close or pre-pay your Business Instalment Loan (BIL) by paying the applicable pre-closure charges after payment of one Equated Monthly Instalment (EMI). Currently, the applicable pre-closure charge is 5% of the outstanding loan amount (plus applicable tax).

How can I prepay my Personal Loan as I am unable to visit branch?
In case you are unable to visit our branch for prepayment of your loan, you can send your representative along with an authority letter duly signed by the loan applicant, for payment. The co-applicant or third party visiting the branch for closing the loan needs to carry the documents mentioned below:

Main applicant Identification proof (Driving License or Passport or Voters card or PAN Card)
Authorisation letter from main applicant.

How can I obtain my un-banked PDC or Security PDCs?
In the event of the applicant's/s' wishes: to procure the post-dated cheques and / or security post dated cheques that remain un-banked at the end of the loan tenure / change of repayment mode; or details of such un-banked post dated cheques and / or security post dated cheques, the applicant/s must make a request for the same, within thirty days of closure of loan / change of repayment mode. If this is not done, ICICI Bank shall have the discretion / responsibility to destroy the un-banked post dated cheques including security post dated cheques without
any further notice and ICICI Bank shall not have the obligation to return the same to the Applicant/s.

What are the Interest Rates for Personal Loan?
Personal Loan interest rates are applied basis the defined pricing matrix followed and standardised by the bank as per customer’s profile. Personal Loan rates vary from 11.25% to 22.00% per annum.

What are the loan tenure options for Personal Loan?
The loan can be repaid over a period of 12 to 60 months

Can I get a Personal Loan for business purpose?
Yes. We offer Personal Loan for business purpose, to self-employed individuals as well. To apply for Business Loan, please visit the nearest ICICI Bank branch along with your valid ID proof.

Source: https://www.icicibank.com/

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