info@logintoloans.com +91 8885545255

Logintoloans Assistant

Enter Pincode

Personal Details

Key Features Of ICICI Bank Personal Loan

  • Loan Amount: Up to ₹50 lakh, suitable for various needs like weddings, vacations, medical emergencies, or home renovations.
  • Interest Rates: Starting at 10.50% p.a., competitive and fixed throughout the tenure, with rates varying based on credit profile and eligibility.
  • Repayment Tenure: Flexible, ranging from 12 to 72 months, allowing manageable EMIs.
  • No Collateral: Unsecured loans, requiring no assets or guarantors.
  • Quick Disbursal: Instant approval and disbursal within 3 seconds for pre-approved customers; otherwise, approval within 72 hours with complete documentation.
  • Minimal Documentation: Requires identity proof (Aadhaar, PAN, etc.), address proof, income proof (salary slips, bank statements), and passport-size photos. Pre-approved customers may need no documents.
Credit Card Promotion
    • Minimal Documentation: Requires identity proof (Aadhaar, PAN, etc.), address proof, income proof (salary slips, bank statements), and passport-size photos. Pre-approved customers may need no documents.
    • Online Application: Hassle-free digital process via iMobile Pay app, ICICI Bank website, or third-party platforms like ICICIdirect.
    • Special Schemes:
    • Insta Personal Loan: For existing customers with quick disbursal.
    • Fresher Funding: Up to ₹1.5 lakh for new employees based on first salary.
    • NRI Personal Loan: For non-resident Indians, up to ₹10 lakh.
    • Top-Up Loan: Additional funds for existing borrowers after 12 EMIs.
    • Balance Transfer: Transfer loans from other banks/NBFCs at lower rates.
    • Flexicash: Overdraft facility for salary account holders.
    • Processing Fees: Up to 2.50% of the loan amount plus GST; special offers may reduce it to 1%.
    • Prepayment/Foreclosure: Allowed after one EMI with a 3% fee on outstanding amount (waived after 12 EMIs for some). No part-prepayment option.
    • Transparency: No hidden charges, with all fees disclosed upfront.
    • Eligibility: Minimum monthly income of ₹30,000 for salaried individuals, age 20–58 years, and at least 2 years of work experience. Self-employed require ₹15–40 lakh turnover and 3–5 years of business stability.
Who We Are

Benefits of ICICI Bank Personal Loans

  • Versatile Usage with No Restrictions: ICICI Bank personal loans can be used for virtually any purpose, making them highly versatile. Whether it's funding a dream wedding, covering unexpected medical expenses, planning a vacation, consolidating high-interest debt, renovating your home, or purchasing gadgets, there are no restrictions on how the funds are utilized. This freedom allows borrowers to address personal or professional financial goals without needing to justify the purpose to the bank.
  • High Loan Amounts: Borrowers can access up to ₹50 lakh, allowing them to cover significant expenses such as weddings, international travel, or major renovations. This ensures the ability to meet a wide range of financial needs comfortably.
  • Competitive Interest Rates: Starting at 10.50% per annum, ICICI Bank offers competitive fixed interest rates that remain stable throughout the loan tenure, shielding borrowers from market fluctuations. Rates are tailored based on factors like credit score, income, employment stability, and relationship with the bank. For high-credit-score customers or those with pre-approved offers, rates can be even lower, reducing the overall cost of borrowing.
    • No Collateral or Guarantor Required: As unsecured loans, ICICI personal loans don’t require borrowers to pledge assets like property, vehicles, or investments.
    • Instant Approval and Quick Disbursal: For pre-approved customers, loans can be approved and disbursed in as little as 3 seconds via digital platforms like the iMobile Pay app.
    • Hassle-Free Digital Application Process: ICICI Bank provides a seamless online application experience through multiple channels:
    • iMobile Pay app: Apply, track, and manage loans on the go.
    • ICICI Bank website: User-friendly interface for quick applications.
    • ICICIdirect platform: Integrated loan options for investors.
    • Third-party partners: Simplified applications via trusted aggregators. The end-to-end digital process eliminates the need for branch visits..
    • Tailored Loan Schemes for Diverse Needs: ICICI Bank offers specialized personal loan variants to cater to specific borrower profiles:
    • Insta Personal Loan: Instant disbursal for existing customers without documentation.
    • Fresher Funding: Up to ₹1.5 lakh for young professionals based on their first salary.
    • NRI Personal Loan: Up to ₹10 lakh for non-resident Indians for use in India.
    • Top-Up Loan: Additional funds for existing borrowers who have paid 12 EMIs.
    • Balance Transfer: Transfer high-interest loans from other banks to ICICI for lower EMIs.
    • Flexicash: Overdraft linked to salary accounts for flexible usage and repayment.
    • Transparent Fee Structure: ICICI Bank maintains transparency with no hidden charges. Key fees include: Processing fee: Up to 2.50% of the loan amount (plus GST). Prepayment/foreclosure charges: 3% if closed before 12 EMIs;
    • Prepayment and Foreclosure Flexibility: Borrowers can foreclose their loan after one EMI. A 3% charge applies if foreclosed before 12 EMIs. Post 12 EMIs, foreclosure is often free.
    • Accessibility for Diverse Borrowers: ICICI Bank's inclusive criteria allow both salaried and self-employed individuals to apply: Salaried: ₹30,000+ monthly income, 20–58 years of age, 2+ years total work experience.
    • Enhanced Customer Support: ICICI offers support via 24/7 call centers, email, WhatsApp banking, and branches. Customers can also use the iMobile Pay app for self-service features like EMI calculators loan tracking.
    • Boosts Financial Planning: Fixed EMIs help in budgeting monthly outflows. Borrowers can also consolidate multiple debts into a single ICICI loan, reducing interest costs and improving overall financial management.
    • Credit Score Improvement: Timely repayments improve your credit score, aiding future loan approvals at better interest rates. This is especially beneficial for young professionals or those rebuilding their credit history.
Check Best Gold Loan Offers

How to Apply for ICICI Bank Personal Loans

  • 1. Check Eligibility:
    • Age: 21–60 years.
    • Employment: Salaried individual in a private company, PSU, or government organization.
    • Work Experience: Minimum 2 years total, with at least 1 year at current employer.
    • Monthly Income: ₹25,000 (ICICI Bank salary account holders) or ₹50,000 (others).
    • Credit Score: Preferably 650 or higher (720+ for better rates).
  • 2. Gather Required Documents:
    • Identity Proof: Aadhaar, PAN, passport, voter ID, or driving license.
    • Address Proof: Aadhaar, utility bill, passport, or rental agreement.
    • Income Proof:
      • Last 3 months’ salary slips
      • 6 months’ bank statements
      • Latest ITR (if applicable)
  • 3. Choose Application Method:
    • Online Application:
      • Visit the official ICICI Bank website: www.icicbank.com.
      • Go to “Personal Loans” under “Borrow” section.
      • Click “Apply Now” and fill in your personal, employment, and loan details.
      • Upload necessary documents if not pre-approved.
      • Submit and note the application reference number.
    • Via Xpress Personal Loan Portal:
      • Access it from ICICI Bank’s website or app.
      • Enter basic info, verify eligibility, and upload documents if needed.
      • Submit and track your application online.
    • Using Loan Assist App:
      • Download the app from Play Store or App Store.
      • Log in or register with your mobile number or customer ID.
      • Fill in loan details and upload documents.
      • Submit and receive real-time updates.
    • Branch Visit:
      • Locate your nearest branch via the website.
      • Visit with required documents and fill out a loan form with help from bank staff.
      • Submit and receive updates on processing and disbursal (1–4 days).
  • 4. Loan Approval and Disbursal:
    • Pre-approved loans: Can be disbursed in just 10 seconds.

Eligibility Criteria for ICICI Bank Personal Loans

  • Age:
    • Minimum: 21 years at the time of loan application.
    • Maximum: 60 years at the time of loan maturity (i.e., by the end of the loan tenure).
    • This ensures the borrower is in the working-age group during repayment.
  • Employment Type:
    • Must be a salaried individual employed in one of the following:
      • Private limited company
      • Public sector undertaking (PSU)
      • Central, state, or local government organization
    • Note: Self-employed individuals, business owners, or non-salaried professionals are not eligible for ICICI Bank personal loans under standard schemes.
  • Work Experience:
    • Minimum total work experience: 2 years
    • Minimum tenure with current employer: 1 year
    • This demonstrates job stability and repayment capacity.
  • Monthly Income:
    • ICICI Bank Salary Account Holders: Minimum monthly income of ₹25,000.
    • Non-ICICI Bank Salary Account Holders: Minimum monthly income of ₹50,000.
    • Higher income requirements may apply for specific schemes like the Golden Edge Personal Loan.
    • For loan amounts between ₹10 lakh and ₹40 lakh, a minimum monthly income of ₹75,000 is required.
  • Credit Score:
    • A minimum credit score of 650 is typically required for loan approval.
    • A score above 720 is preferred for better interest rates (starting at 10.50% p.a.) and higher loan amounts (up to ₹40 lakh).
    • A strong credit history with timely repayment of existing loans and credit card dues improves approval chances.
  • Nationality and Residency:
    • Applicant must be a resident of India.
    • Non-resident Indians (NRIs) are not eligible for standard personal loans but may explore other ICICI Bank products tailored for NRIs.
  • Banking Relationship (Optional Advantage):
    • Existing ICICI Bank customers (e.g., those with a savings account, salary account, or credit card) may qualify for pre-approved loans.
    • Benefits include relaxed criteria, faster processing, instant disbursal (within 10 seconds), and minimal documentation.
    • A stable banking relationship enhances eligibility.
Check Best Gold Loan Offers

Documents Required for ICICI Bank Personal Loans

  • Identity Proof (Any one of the following):
    - Aadhaar Card
    - PAN Card
    - Passport
    - Voter ID
    - Driving License
    - Government-issued ID card
    Note: PAN Card is mandatory for loan processing, in addition to one of the above.
  • Address Proof (Any one of the following):
    - Aadhaar Card
    - Passport
    - Voter ID
    - Driving License
    - Utility bill (electricity, water, gas, or telephone bill, not older than 3 months)
    - Rental agreement
    - Ration card
    - Bank account statement or passbook (with recent entries)
    - Property or municipal tax receipt
  • Income Proof (Any one or combination, depending on profile):
    - Latest 3 months’ salary slips (mandatory for salaried individuals)
    - Last 6 months’ bank statements (from the salary account, showing salary credits)
    - Form 16 or latest Income Tax Returns (ITR) for the last 1–2 years (if requested)
    Note: For higher loan amounts (e.g., Golden Edge Personal Loan), additional income verification, like bank statements for 12 months, may be required.
  • Employment Proof (Optional, if requested):
    - Appointment letter or employment contract
    - Employee ID card
    - Official email ID confirmation or company-issued letter verifying employment
    Note: Typically not required if salary slips and bank statements are provided, but may be asked for during verification.
  • Photograph:
    - One recent passport-size photograph (may be required for offline applications or during branch visits)
    - For online applications, a digital selfie or photo upload may suffice if prompted.
  • Loan Application Form:
    - Duly filled and signed personal loan application form (available online or at ICICI Bank branches)
    - For online applications, the digital form is completed during the process

Factors for Personal Loans –ICICI Bank

  • Credit Score:
    - A minimum CIBIL score of 650 is required, but a score of 720 or higher (ideally 750+) increases approval chances and may secure lower interest rates (10.50%–24% p.a.).
    - A strong credit score reflects timely repayments and responsible credit use, making you a lower-risk borrower.
  • Monthly Income:
    - Minimum net monthly income: ₹25,000 for ICICI Bank salary account holders; ₹50,000 for non-ICICI account holders.
    - Higher income demonstrates repayment capacity, potentially qualifying you for larger loan amounts (up to ₹40 lakh, or ₹75 lakh for select customers).
    - Lenders assess if your income can cover EMIs comfortably, often aiming for total EMIs (including the new loan) to be within 50–60% of your net income.
  • Employment Status and Stability:
    - Eligible applicants include salaried individuals employed at private limited companies, public sector undertakings, or government bodies (central, state, or local).
    - Minimum 2 years of total work experience, with at least 1 year at the current employer, ensures income stability.
    - Note: ICICI Bank typically does not offer personal loans to business owners or self-employed individuals unless specified under special schemes.
  • Age:
    - Applicants must be between 21 and 60 years old.
    - Younger applicants may face stricter income checks, while those nearing 60 need to demonstrate repayment capacity within the loan tenure (up to 6 years).
  • Debt-to-Income Ratio:
    - Your existing EMIs (from loans or credit cards) should ideally not exceed 50–55% of your net monthly income, including the proposed loan’s EMI.
    - A lower ratio indicates better financial health, improving eligibility for higher loan amounts or better terms.
  • Relationship with ICICI Bank:
    - Existing ICICI Bank customers, especially those with salary accounts or a good transaction history, may enjoy pre-approved offers and faster processing.
    - A healthy relationship history with the bank can also positively influence interest rates and loan terms.
  • Loan Purpose and Documentation:
    - Clearly stating the purpose of the loan (e.g., medical, education, wedding) adds credibility and may help with quicker approvals.
    - Submitting accurate and complete documentation also enhances the chances of approval with minimal delay or back-and-forth.

Frequently Asked Questions (FAQs)

What is an ICICI Bank Personal Loan?
An ICICI Bank Personal Loan is an unsecured loan (no collateral required) offered to salaried and self-employed individuals to meet various financial needs, such as weddings, medical emergencies, home renovations, vacations, or debt consolidation. It provides loan amounts up to ₹50 lakh with repayment tenures from 12 to 72 months and interest rates starting at 10.50% p.a.
What are the key features of ICICI Bank Personal Loans?
Loan Amount: ₹50,000 to ₹50 lakh, based on eligibility.
Interest Rates: Starting at 10.50% p.a., fixed for the tenure.
Tenure: Flexible, from 12 to 72 months.
No Collateral: No need to pledge assets or provide a guarantor.
Quick Disbursal: Instant for pre-approved customers (3 seconds); within 72 hours for others with complete documentation.
Minimal Documentation: Basic KYC, income, and bank statements.
Transparency: No hidden charges; all fees disclosed upfront.
Special Schemes: Insta Personal Loan, Fresher Funding, NRI Personal Loan, Top-Up Loan, Balance Transfer, and Flexicash (overdraft).
What can I use an ICICI Bank Personal Loan for?
There are no restrictions on usage. Common purposes include:
  • Wedding expenses
  • Medical emergencies
  • Home renovation or repairs
  • Vacations or travel
  • Education fees
  • Debt consolidation
  • Purchasing gadgets or appliances
Who is eligible for an ICICI Bank Personal Loan?
Eligibility depends on the applicant’s profile:
Salaried Individuals:
  • Age: 20–58 years at loan maturity.
  • Minimum monthly income: ₹30,000 (varies by city; higher in metros).
  • Work experience: At least 2 years total, with 1 year at the current job.
Self-Employed Individuals:
  • Age: 23–65 years at loan maturity.
  • Minimum turnover: ₹15 lakh (professionals) or ₹40 lakh (non-professionals).
  • Business stability: 3–5 years (3 years for doctors).
  • Minimum profit after tax: ₹1–2 lakh, depending on business type.
NRI Applicants:
  • Age: 25–60 years.
  • Minimum monthly income: Equivalent to ₹30,000.
  • Employment: At least 1 year abroad with a valid work visa.
  • A credit score of 750+ is preferred for better terms.
Are there special schemes for specific applicants?
Yes, ICICI offers tailored schemes:
  • Insta Personal Loan: Instant disbursal for existing customers, no documentation.
  • Fresher Funding: Up to ₹1.5 lakh for new employees based on first salary.
  • NRI Personal Loan: Up to ₹10 lakh for non-resident Indians.
  • Top-Up Loan: Additional funds for existing borrowers after 12 EMIs.
  • Balance Transfer: Transfer loans from other banks/NBFCs at lower rates.
  • Flexicash: Overdraft facility for salary account holders.
How can I apply for an ICICI Bank Personal Loan?
You can apply through multiple channels:
  • Online: Via the ICICI Bank website by filling out a form and uploading documents.
  • iMobile Pay App: Log in, check pre-approved offers, and apply instantly.
  • ICICIdirect Platform: For existing investment account holders.
  • Branch Visit: Submit forms and documents at the nearest ICICI Bank branch.
  • Third-Party Platforms: Through partners like BankBazaar or Paisabazaar. The process takes 5 minutes online for pre-approved customers and up to 72 hours for others.
What documents are required to apply?
Pre-Approved Customers: Often no documents; verified via OTP or net banking.
Salaried (Non-Pre-Approved):
  • Identity Proof: Aadhaar, PAN, passport, voter ID, or driving license.
  • Address Proof: Aadhaar, utility bill, passport, or rental agreement.
  • Income Proof: Last 3 months’ salary slips, 3–6 months’ bank statement, Form 16.
  • Others: 2 passport-size photos; employment proof (if requested).
Self-Employed:
  • Identity and Address Proof: Same as salaried.
  • Income Proof: Last 2 years’ ITR, profit & loss statement, balance sheet, 6 months’ business bank statement.
  • Business Proof: Registration certificate, GST registration, or professional certificate.
  • Others: 2 passport-size photos.
NRI Applicants:
  • Valid Indian passport, visa, work permit.
  • Overseas address proof and Indian address proof (if applicable).
  • Last 3 months’ salary slips, 6 months’ overseas bank statement, employment contract.
  • 2 passport-size photos.
Documents must be valid and consistent (e.g., matching names/addresses).
How long does it take to get loan approval?
Pre-Approved Customers: Instant approval and disbursal within 3 seconds (e.g., Insta Personal Loan).
Others: Approval within 72 hours, provided all documents are complete and verified. Delays may occur if additional clarification is needed.
How can I check my loan application status?
Track your application via:
  • iMobile Pay App: Log in and view status under the “Loans” section.
  • ICICI Bank Website: Enter your application number, mobile number, or date of birth.
  • Customer Care: Call 1860-120-7777 (8:00 a.m. to 8:00 p.m.).
  • Branch: Visit the branch where you applied. Instant loans may reflect immediately in your account.
What is the interest rate for ICICI Bank Personal Loans?
Rates start at 10.50% p.a. and can go up to 16–19% p.a., depending on:
  • Credit score (higher scores get lower rates).
  • Income and employment stability.
  • Loan amount and tenure.
  • Relationship with ICICI Bank (existing customers may get better rates).
Rates are fixed, ensuring stable EMIs throughout the tenure.
What fees and charges apply?
Processing Fee: Up to 2.50% of the loan amount plus GST (sometimes reduced to 1% during offers).
Prepayment/Foreclosure Charges: 3% of the outstanding amount (plus GST) if closed before 12 EMIs; often waived after 12 EMIs.
EMI Bounce Charges: ₹400 per bounce plus GST.
Auto-Debit Bounce Fee: ₹50 plus GST.
Loan Cancellation Fee: ₹3,000 plus GST (if cancelled before disbursal).
Penal Interest: 2% per month on overdue amounts for some schemes. All fees are disclosed upfront for transparency.
How is the EMI calculated?
EMI (Equated Monthly Installment) depends on:
  • Loan Amount: Higher amounts increase EMIs.
  • Interest Rate: Higher rates raise EMIs.
  • Tenure: Longer tenures reduce monthly EMIs but increase total interest.
Use ICICI’s Personal Loan EMI Calculator to estimate EMIs. For example:
  • ₹1 lakh loan at 10.50% p.a. for 1 year = EMI of ~₹8,815.
  • ₹10 lakh at 10.50% for 5 years = EMI of ~₹22,151.

List of ICICI Bank Personal Loans

  • ICICI Bank FlexiCash
  • ICICI Bank Instant Personal Loan
  • ICICI Bank NRI Personal Loan
  • ICICI Bank Personal Loan Top-Up
  • ICICI Bank Personal Loan Balance Transfer
  • ICICI Bank Fresher Funding Loan
  • ICICI Bank Marriage Loan
  • ICICI Bank Holiday Loan
  • ICICI Bank Home Renovation Loan
  • ICICI Bank Business Instalment Loan (BIL)
  • ICICI Bank Pre-Qualified Personal Loan