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Rate of interest
The interest rates range between 10.65% and 16.00% per annum. The actual rate of interest offered to an individual depends on various factors like credit score, income and the policies of ICICI Bank. To find the most suitable repayment plan, use the ICICI Bank Personal Loan EMI Calculator. Here's a quick example to illustrate:
| Loan Amount (Principal) (Rs) | Interest Rate | Tenure (Years) | Monthly EMI (Rs) | Total Interest Paid (Rs) | Total Repayment Amount (Rs) |
|---|---|---|---|---|---|
| 50,000 | 11% | 3 | 1,636.94 | 8,929.69 | 58,929.69 |
| 50,000 | 11% | 5 | 1,087.12 | 15,227.27 | 65,227.27 |
Processing fee
- The processing fee for this loan can go up to 2.50% of the loan amount along with any applicable taxes. These fees cover the administrative costs involved in processing the loan application.
Tenure
- The loan tenure or the duration for which the loan can be availed ranges from 12 months to 72 months. Borrowers can choose a repayment period that suits their financial situation and comfort.
Eligibility Criteria and Documents Required
The documents required for a Personal Loan application are minimal. You may submit the necessary documents online to complete the application and verification process.Â
Loan Selection Assistance
The calculator helps in selecting the most appropriate loan by offering a clear understanding of EMI variations across different loan amounts, interest rates and tenures. With the help of ICICI Bank Personal Loan EMI Calculator, you can calculate your Equated Monthly Instalment (EMI) for a Personal Loan. This calculator considers loan amount, interest rates and tenure to determine the monthly repayment amount and total interest payable over the loan duration.
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₹10,201/month
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₹65,43,590
₹50,43,590
₹60,000
₹40,000
How does it work?
By inputting specific loan details such as amount, interest rate and tenure, the calculator swiftly computes the EMI and total interest payable. Borrowers can adjust these variables to explore various repayment scenarios, assisting in informed financial planning.
Determining applicable Rate of Interest (ROI)
The applicable ROI relies on various factors including credit score, loan amount, tenure and individual profiles. The calculator does not provide the exact rate but helps to estimate payments.
ICICI Bank Personal Loan of Rs. 50,000 offers a flexible and quick solution for unexpected financial needs with manageable interest rates and minimal documentation. It is an ideal choice for immediate financial assistance without collateral.
