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ICICI Bank Personal Loan

ICICI Bank Private Limited comes in the second position in the largest private Bank sectors. When it comes to providing personal loan, ICICI bank offer instant personal loan to the applicant with quick amount disbursement. ICICI Bank Personal Loan has got the highest preference from people as it provided competitive rate of interest. ICICI Bank has partnered with LoanMoney to give personal loan at lower interest rate to individuals like salaried, self-employed and professional. In addition, to get quick loan approval you may fill a quick form on our website and also you may read below to check your eligibility and documentation you have to provide.

LoanMoney is the leading loan provider agency in Delhi NCR and it has partnered with various largest banks. If you want to obtain a loan, apply on our website and we offer you benefits like, hassle free loan, fast loan approval, transparency in working, and lower interest rates.

Why choose ICICI Bank Personal/Unsecured Loan?

ICICI Bank is not only the second largest bank in India but also one of the biggest personal loan provider among the common individual. Over the time, it has helped a lot of people when they were in the need of money. ICICI Bank trust their customer and applicant, sometimes applicant did not make up to the eligibility criteria, to help them ICICI Bank customize their loan schemes in order to help applicants with urgent money requirement.

Here are some primary point which you must consider in mind while obtaining the ICICI Bank Personal Loan:

Customized Personal Loans: ICICI Bank is not like other banks, it provides customized personal to every applicant who wants to obtain loan. There are fixed figures and calculation from maximum loan tenure to maximum loan quantum the applicant can avail as per his financial track record. Basically, the bank ICICI provides according to three types, for salaried individuals the maximum amount can be availed in 15 lakhs, for self employed the maximum amount can be availed in 30 lakhs.

Attractive Rate of Interest: ICICI Bank offers personal loans at an attractive rate of interest, starting with as low as 13.99% interest rate.

Fast Loan Approval: ICICI Bank is most popular because it is famous for providing quick loan approval and fast amount disbursal.

Easy and Minimal Documentation: ICICI Bank do not make the applicant to go through large documentation process, because they do not want waste the time of applicant. So, they have made a quick and easy documentation process.

Top up Loan facility: ICICI bank facilitates their personal loan with top up loan option. This feature allow the applicant to borrow a certain amount on their existing loan with the same interest rate.

No Guarantor Required: ICICI Bank does not need any applicant to pledge their personal assets as security or collateral to them.

ICICI Bank Personal Loan Eligibility Criteria

ICICI Bank Personal Loan Eligibility for Salaried Individuals

Age - 23 years - 58 years.
Net Salary** - Salaried individuals with minimum monthly income Rs.17,500 (Rs.25,000 for applicants residing in Mumbai & Delhi; Rs.20,000 for applicants residing in Chennai, Hyderabad, Bangalore, Pune & Kolkata)
Total years in job/profession - 2 Years
Years in current residence - 1 Years

ICICI bank Personal Loan Eligibility Criteria for Self-Employed

Age - 28 years (self employed individuals) and 25 years (for doctors); Maximum age - 65 years
Minimum Turnover - Rs. 40 lakh for non-professionals; Rs. 15 lac for professionals; as per audited financials
Minimum Profit After Tax - Rs. 2 lac for Proprietorship Firm/Self employed Individuals and Rs. 1 lac for non-professionals as per audited financials
Business Stability - In current business for at least 5 years and minimum 3 years for doctors
Existing relationship with ICICI Bank - Minimum 1 year liability relationship (current or savings account) or Asset relationship (loan) either live or closed in the last 36 months; repayment track as required

ICICI Bank Personal Loan Interest Rates, Processing Fees & Charges

Interest Rate - 10.99% to 17.99%
Processing Fees - Rs.1499 + applicable tax to 2.25% of the loan amount
Loan Amount - 15 lakhs for Salaried, 30 Lakhs for Self-employed
Loan Tenure - 1 year to 5 years
Pre-closure Charges - Preclosure permitted after 6 months. 5% of principal outstanding (plus GST)
Guarantor Requirement - No guarantor required

Documentation needed to apply for an ICICI Bank Personal Loan

  • Signed application form with photograph
  • Copy of passport/voter ID card/driving license
  • Processing fee cheque
  • Last 3 months bank statement/6 months bank passbook
  • Documentation for salaried applicants:
  • Latest salary slip

    current dated salary certificate with the latest Form 16

  • Documentation for self-employed applicants:
  • Latest Bank statement

    Latest ITR or Form 16

 
Loan Application

 

It is a type of unsecured loan and helps to meet your current financial needs. You don't need any security/collateral while availing it. Personal Loan is your solution for instant cash and can be used for travelling, wedding, medical emergency, home renovation, or anything else.

 

Home Loan is a Secured loan offered against the security of a house/property which is funded by the banks and NBFCs the property could be a personal property or a commercial one. Home loans consist of an adjustable or fixed interest rate and payment terms.

 

Loan Against Property belongs to the secured loan category where the borrower gives a guarantee by using his property as security. Banks and financial institutions offer this LAP, which can either be a residential/commercial building or a piece of land.

 

A Business Loan is a loan specifically intended for business purposes. As with all loans, it involves the creation of a debt, which will be repaid with added interest. Banks and other financial institutions are there to provide you with suitable lending assistance.

Different Purposes for Personal Loan through LoanMoney

Marriages are made in heaven and its celebration is one of the happiest and memorable events for married couples and their families. Wedding loan is available to people looking to meet their wedding expenses in order to make the wedding a grand success.
A Medical Loan is extended by a bank or a financial institution under the category of personal loans. A medical loan can be used for multiple emergency purposes such as an operation, surgery, procedure, therapy or for any concern related to health.
Balance transfer is the process where a customer transfers his outstanding principal amount to another bank or financial institute primarily for a better rate of interest and also for better features. Balance transfer reduces your interest rates and finally ensure saving.
The Credit Card Payment Loan is designed to allow you to take control of your finances and pay your credit cards off faster. This is made possible by consolidating your high-interest card balances into one monthly payment at a fixed rate and term.
The Education Loan aims at providing financial support from the bank to deserving/ meritorious students for pursuing higher education in India and abroad. Students enrolled in career-oriented courses e.g. medicine, engineering, management etc, can avail this.
Travel loan is a kind of Personal Loan that you can apply while planning a travel. It can help to cover the costs associated with your holiday, such as airfares, accommodation, hotel fares, tour packages, travel gears/accessories, or any other type of expenses associated with your travel.
Debt consolidation/ Financial Restructuring is a process to streamline one's financial stability and debt. Thus by consolidating many small debts with one debt, one gets favourable payment off terms and lower burden of EMI.
Home is the place where your story generates. Home Renovation Loans are designed for the purpose of renovating a house and can be taken by a person who owns the property to be renovated.

Disclaimer: LoanMoney is not a Loan Providing Organization. We are facilitating the Loan Process from various Banks & NBFC. The rate, eligibility criteria, term & conditions of various banks are subject to change as per bank discretion. We try our best to keep the data up-to-date, but we can't guarantee the accuracy of data provided in this site. LoanMoney help you to embark on your dream at the right time with many Banks/NBFC's Loan opportunities available! Follow a few simple steps to help LoanMoney team understand your requirements... read more

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