During a crisis, an ICICI Bank Personal Loan might help you meet a variety of budgetary necessities. It’s an unsecured loan that can be used to support a dream vacation or home remodelling, as well as cover marriage expenditures and unexpected bills.
To meet your own needs, you can take out an ICICI Personal Loan of up to Rs 25 lakh. Personal loans from ICICI Bank are simple to apply for and have a quick approval process. Furthermore, you can acquire funds in as little as 3 seconds with Insta Personal Lending or pre-approved lending services. Only ICICI bank clients who have already developed a link with the bank have availability to this feature.
ICICI Personal Loans Rates and Fees
- The annual interest rates on ICICI bank personal loans range from 10.5 percent to 19 percent. Non-refundable loan application and transaction fees, as well as GST, may be charged.
- The loan processing fees are 2.25 percent of the loan amount plus GST.
- Secondly, if you are a salaried customer and want to settle off the remainder of your loan, you will be charged a Prepayment Charge of 5% + GST on the outstanding principle by ICICI Bank.
- If you pay back the loan with your own money, there are no costs.
- The ICICI personal loan can be repaid over a period of up to 60 months.
- Deferred payments are subject to a 24-percentage-point annual interest charge.
- Each transaction charges INR 500 + GST in terms of Repayment Method Swap fees.
- There is a charge of INR 3000/- plus GST for the loan cancellation EMI. Each bounce will incur a charge of INR 400 plus GST.
ICICI Personal Loan Benefits
- Taking out a personal loan from ICICI has a number of financial benefits:
- Three seconds after you give your approval, the money is transferred to your wallet. Insta Personal Loan is the name of this service.
- The loan period can be selected by ICICI Bank. You have the option of applying for a loan with a term of one to six years.
- ICICI Bank’s online banking services Ensure that you keep track of the status of your appeal and that you receive any necessary support as soon as feasible.
- Only a small amount of documentation remains to be completed.
- The interest rate will not alter during the length of the loan.
- Because it is an unsecured loan, you do not need to provide any collateral.
You can apply for a personal loan from ICICI Bank by bringing the required documents to the bank. If you are a current ICICI bank customer, you can acquire a rapid loan by filling out the imobile application or visiting the bank’s website.
The time it takes for your claim to be submitted varies depending on whether you are a current or potential customer. If you currently have an ICICI Bank savings account, credit card, or other sort of debt, your personal loan application will almost certainly be approved straight away. You will be provided low-interest ICICI personal loan rates based on your previous bank experience.
To get the best personal loan, all you have to do is be attentive and emphasize on your personal loan eligibility conditions. Your CIBIL score is the most crucial factor to consider when applying for a personal loan. Focus on raising and maintaining your CIBIL score to qualify for the lowest ICICI bank personal loan interest rate. If you’re a new customer, the bank may request personal and contact information in order to get in touch with you. Your application will be reviewed for approval after all of the paperwork has been confirmed. Once your application has been approved, it may take up to 3 to 5 days to be finalised.