Personal Loans

Can I foreclose or prepay my Personal Loan?

Yes, you can prepay or foreclose your Personal Loan after the payment of at least one EMI. However, charges (and taxes) will be applicable for foreclosing a personal loan.

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 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.

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.

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.

Under Service Charges and Fees

*Loan Cancellation Charges

*Acceptance of request for cancellation of loan is at the sole discretion of the Bank.

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.

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 10.80% to 16.15% per annum.

What are the loan tenure options for Personal Loan?

The loan can be repaid over a period of 12 to 72 months

Do you offer Top-up on existing Personal Loans?

We offer Top-up facility if you have paid 6 Equated Monthly Instalments (EMIs) on the existing Personal Loan. You can make a request for Top up on existing Personal Loan through the following modes:

What is the loan amount that can be sanctioned?


Based on your kind of business and your relationship with ICICI Bank, the final loan amount is decided.

To check your loan amount, please Click here

Can I pre-close my Business Instalment Loan?

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).

Do you offer Balance Transfer facility in Personal Loan?

We offer Balance Transfer Facility if you have paid 12 EMI. Please contact your nearest branch or our call center for further details.

What is the maximum tenure under BIL?

  1. Doctor: 60 Months

  2. Professional (CA, CS, CWA and Architect): 48 Months

  3. Other: 36 Months

To check the maximum tenure under BIL, please CLICK HERE

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
Calculate EMI

How can I approach ICICI Bank for Personal Loans?

You can Place the request for New Personal Loan through the following Channels:

 

Online process without login: 

Log in to www.icicibank.com --> Main Page --> Click on Products -->Loans--> Select Personal loan--> Request a call

 

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

 

Log in to www.icicibank.com --> Main Page--> You can see the Pre qualified offers for Personal loan --> click on Instant approval

 

Customer Care:

You may also call our Customer Care on 1800 1080 between 8:00 a.m. to 8:00 p.m.

To know the Customer Care numbers, we request you to click here.

 

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 are the required documents under each program?

The documents required are KYC Documents   Income Documentation.

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.

What are different types of BIL Programme?

There are 7 types of BIL Programme

  1. BIL Audited Financial
  2. BIL Doctor
  3. BIL Banking Surrogate
  4. BIL ITR
  5. BIL Professional Program: CA, CS, CWA, Architect
  6. BIL Home Loan Surrogate
  7. BIL Auto Loan Surrogate

For more details please CLICK HERE

Who can become a co-applicant?

  1. Proprietorship Firm/ Self-employed Individual: Son, Daughter
  2. Partnership Firm/ LLP: Partners with at least 51% Stake to be taken co-applicant
  3. Private Ltd Company: Director(s) with at least 51% stake to be taken co-applicant
  4. Public Ltd Company: One director to be taken co-applicant

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

You may update your mailing address, mobile number or e-mail ID with below:

  1. At any ICICI Bank branch:
    • Visit any ICICI Bank loan branch with a valid photo ID proof and submit an application.

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.

How can I apply for a Personal Loan?

You can make a request for Personal Loan through the following modes:

Internet Banking:
Click here to apply for a Personal Loan.
 

Customer Care:
You may call our Customer Care on 1800 1080 between 08:00 a.m. and 08:00 p.m. (Monday-Saturday) To know the Customer Care numbers, please click here .

ICICI Bank branch:
Please visit the nearest ICICI Bank Asset Servicing Branch along with your valid ID proof, address proof, 3 months bank statement in which your salary is credited, last 3 months' salary slips and Form -16 for the current/ previous financial year. To locate the nearest ICICI Bank Asset Servicing Branch, visit maps.icicibank.com/mobile .

 

Will the offer be visible to customers on every transaction?

Insta Personal Loan (PL) offer will be visible to customers during the first 10 completed transactions. Additionally, after availing the Insta Personal Loan through the ATM, the offer will not be shown.

Do you offer top-up facility 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 on 1800 1080 between 8:00 a.m. and 8:00 p.m.

To know the Customer Care numbers, we request you to click here

 

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.

Is there any security or guarantor required for availing ICICI Bank Business Instalment Loan?

No. ICICI Bank Business Instalment Loan doesn’t require any collateral or security guarantee.

What is the minimum business vintage required under BIL?

The minimum business vintage required under BIL is 5 years.

What type of entity can be funded under BIL?

  1. Proprietorship Firm

  2. Partnership Firm/ LLP

  3. Private Limited Company

  4. Public Limited Company

What is a Business Instalment Loan?

Business Instalment loan (BIL) is an unsecured loan which is provided to a self-employed individual and entity. A business instalment loan is a business loan that can be availed for any business upgrade or equipment purchase, which is repaid in equal instalments at fixed intervals, mostly monthly.

Can my partner and I, as owners in our partnership firm, apply together for ICICI Bank Business Instalment Loan?

Yes. ICICI Bank offers a facility where in both partners can together apply for ICICI Bank Business Instalment Loan.

Is a co-applicant required in BIL and under what circumstances is a co applicant required?

Yes, co-applicant is required in BIL and under the below circumstances:

  1. If self-employed Individuals age is more than 55 years
  2. Customer is company or Partnership firm

What is the eligibility for ICICI Bank Business Instalment Loan?

There are different criteria based on which one’s eligibility is decided. You can check your eligibility:

CHECK YOUR ELIGIBILITY