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ICICI Bank Personal Loans from 10.75%

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ICICI Bank Personal Loans

ICICI Bank Personal Loan offers personal loan upto Rs. 50 Lakhs without any collateral security and with minimal documentation. Personal loan is a unsecured loan that caters to your financial needs such as travel, home renovation, or wedding. You can apply for personal loan from ICICI bank and get instant approval. Make use of their EMI calculator to get an idea about the exact EMI that you need to pay.

Features of ICICI Bank Personal Loan

  • No Restriction on Fund Usage: You can use your funds to fulfil a variety of your needs. Be it, planning a wedding, buying a household product or taking care of your kids school fees, you can make use of the personal loan, the way you want and there are no restrictions
  • Instant Approval: ICICI offers a seamless loan experience. Your loan will be sanctioned soon after you apply and the funds will be credited into your account within three seconds from approval
  • Flexible Tenure: ICICI bank offers flexible loan tenures. You can choose from 12 – 72 months based on your repayment capacity
  • Minimum Documents: ICICI personal loan application process requires just minimal documentation making the whole loan experience breezy
  • Fixed Interest: The Interest rates by ICICI are fixed and not floating, so the interest component do not vary thoughout the tenure
  • No Collateral Required: ICICI Personal Loans do not require any collateral or security

Eligibility for ICICI Personal Loan

For Salaried

  • To apply for ICICI personal loan, you must be
  • Resident of India and min 21 years of age
  • Salaried individual with a minimum salary of Rs. 30000
  • Having a good credit score
  • Should have a savings account with any of the banks in India
  • Must have worked in current employment for 2 years atleast
  • Should have stayed in current residence for 1 year

For Self-employed 

  • (28-65) years for self-employed professionals, and( 25-65) years for doctors
  • Minimum turnover of Rs. 15 Lakhs for professionals, and Rs. 40 Lakhs for non-professionals
  • Self-employed individuals must have a minimum profit after tax of Rs. 2 Lakhs for proprietorship firm and Rs. 1 Lakh for non-professionals
  • For the Self employed, they should be in current business of atleast 5 years and minimum 3 years for doctors

Charges in ICICI bank personal loan


Interest rates

10.75 – 19%

Loan Processing Charges

Upto 2.5% of Loan amount + taxes

Prepayment charges 

For Salaried, 3% on outstanding principal after 1st EMI and no charges if 12 EMIs are paid

Penal Interest

@24% pa

Loan Cancellation Charges

Rs. 3000 + taxes

Documents required for ICICI Bank Personal Loan

For Salaried

  • Proof of Identity – Passport/Driving License/Voter ID/ PANCard
  • Residence Proof – Passport/License Agreement
  • Last 3 months bank statement where salary was credited
  • Salary slips for 3 months
  • 2 Passport size photographs

For Self-employed

  • KYC Documents – Proof of Identity, Address Proof, DOB Proof
  • Proof of Residence
  • Income Proof
  • Last 6 months bank statement
  • Office Address Proof
  • Proof of Residence of Ownership
  • Proof of business continuity

How to Apply for a Loan at ICICI Bank?

Get your loan approved in 4 simple steps,

  • Check if you have a pre-approved loan offer
  • Submit your personal loan application and check your eligibility
  • Check your personal approval
  • If approved and verified, the loan will disbursed in few minutes
Personal Loans by Bank
ICICI offers personal loan tenure ranging from 12 months to 72 months
No, personal loan does not carry any tax benefits.
ICICI offers a personal loan at interest rate ranging from 10.5 to 19%
#1Attractive interest rates
#2 Minimal Documentation
#3 Flexible repayment options
#4 Easy EMI amount
#5 Quick Disbursement
#6 No Restrictions on Usage