ICICI BANK Personal Loan

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Use of the ICICI Bank Personal Loan can be House renovation, Holidays, Purchase of consumer durables, Education, Marriage, Short Term loan for equipment purchase, Short Term Working Capital, Any other personal emergency. Dreaming of a vacation, a perfect wedding, home renovation or a much desired gadget, you no longer need to wait to realize your dreams. Make life picture perfect with ICICI Bank Personal Loans.

LoanMoney help you to embark on your dream at the right time with ICICI Bank Personal Loan opportunities available! Follow a few simple steps to help LoanMoney team understand your requirements.

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Criteria Salaried

Age	:	24 yrs. - 58 yrs.
Salary	:	Minimum Rs. 20,000 p.m
Eligibilty	:	Employed with 1 yrs continuity
Years In total Job profession	:	2 Year
Years in current residence	:	1 Year

Based on the following aspects ICICI Bank will determine your loan eligibility:

Your monthly income
Total experience
Other EMI’s which you are paying for any other loan

OTHER FACTORS:-

Income : If your Income is above a certain limit, banks believe that your chances of not paying are lesser as you have Income to pay. Income above 75 per month usually gets some discounts from all personal loan Banks.

Your Company Status : If the company you are working with is a well known corporate, the Banks feel that you are less likely to shift from your job and will result in lesser defaults.

Credit and Payment History : Banks follows Cibil scores/rating before deciding giving loans. If your payments for Credit\ Cards and Loans is not upto mark , you have the most likely chance of being rejected for the loan or the Bank will give you at a much higher ate.

Relationship with Bank : The Bank where you have your Salary account/Savings account is likely to pass on you to some special rate for your personal Loans or Processing fee.

Individuals Negotiating Skills : Based on your above points you can always ask Bank to give you waivers on Rates, Fees

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What are the minimum and maximum loan amounts?

You can avail of loans ranging from Rs 50,000/- to Rs 15,00,000/- depending on your eligibility, income and repayment capacity.

What are the loan tenure options?

The loan can be repaid over a period of 12 to 48 months.

Are there any additional charges?

A processing fee of 2% or 3% depending on the location, of the loan amount is payable upfront. This fee will be deducted from the disbursal amount payable to you.

How much time will it take for my loan to be approved?

Loans are approved within 72 hours of submission of complete documentation.

Do I have to provide any security, collateral or guarantors?

No security, collateral or guarantors are required for obtaining Personal Loans.

How do I repay the loan?

You can repay the loan in Equated Monthly Installments (EMI's) through post-dated cheques favouring ICICI Bank Limited, or if you have an ICICI Bank account you can mandate us to directly debit the same.

Can I prepay my loan?

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Proof of Identity (any one) Passport / Driving License / Voters ID / PAN Card
Proof of Residence (any one) Ration Card / Utility Bill / Passport / LIC Policy Receipt
Latest 3 months Bank Statement (where salary/income is credited)
Salary slips for last 2 months

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Charges

Loan Interest Rate.(Monthly reducing balance)	:	11.49% to 16% floating
Processing Fees	:	2% Plus Service Tax
Tenure	:	1 year to 4 years
Loan Amount	:	Rs. 1 lakh to Rs. 15 lakhs
Pre-closure Charges	:	2% of Pre-closed amount

Service charges:-

Prepayment of the loan is possible after 180 days of availing the loan.
Prepayment charges as applicable would be levied on the outstanding loan.
Part prepayment facility on the loan is not available.

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ICICI, PNB, Union Bank cut Savings Rates
Three more lenders 11 ICICI Bank, Union Bank of India and Punjab National Bank (PNB) 11 have brought down their interest rates on savings bank account, taking the total to 1.16 The cut in savings rate is likely to be a recursor to a cut in lending rates. ICICI Bank and PNB said that they have reduced interest rate on Read More
ICICI, Union Bank of India cut savings rate
ICICI Bank the country17s largest rivate sector lender and, one of its ublic sector eer Union Bank of India reduced their savings bank rates by 5 basis oints on Friday, exanding the number of banks that have cut their savings rates in recent times.16 State Bank of India (SBI) started the trend on July 1 with a cut of 5 Read More
ICICI Bank Latest To Cut Savings Rate
India9s largest rivate lender16ICICI Bank Ltd.,16on Friday cut interest rates ayable on savings deosits as it follows both ublic and rivate sector eers in aring costs, becoming the eleventh bank to do so. The Chanda Kocchar-led bank reduced the interest rate on savings deosits below Rs 5 lakh by 5 basis oints to .5 ercent er annum, according to its Read More
ICICI Bank to Raise Rs 10,000 crore via bonds
I CICI Bank lans to raise u to Rs 1, crore via tier-1 bonds for its caital base and business growth. Rating agency16ICRA16has assigned an 16AA+ (hybrid)17 rating to the roosed offering of the rivate bank. It is described as a hybrid subordinated instrument, with equity-like loss-absortion features. The distributable reserves that can be used to service the couon in Read More

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About ICICI Bank Personal Loan

ICICI Bank is India's largest private sector bank with total assets of Rs. 6,461.29 billion (US$ 103 billion) at March 31, 2015 and profit after tax Rs. 111.75 billion (US$ 1,788 million) for the year ended March 31, 2015. ICICI Bank currently has a network of 4,050 Branches and 13,082 ATM's across India.

ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial institution, and was its wholly-owned subsidiary. ICICI Bank was established by the Industrial Credit and Investment Corporation of India (ICICI) , an Indian financial institution, as a wholly owned subsidiary in 1994. The parent company was formed in 1955 as a joint-venture of the World Bank, India's public-sector banks and public-sector insurance companies to provide project financing to Indian industry.

The bank was initially known as the Industrial Credit and Investment Corporation of India Bank, before it changed its name to the abbreviated ICICI Bank. The parent company was later merged with the bank.

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Features of ICICI BANK Personal Loan

No guarantors, security or hypothecation
Simplified documentation procedure
Loan repayment in flexible tenures of up to 12-60 months
Personalised and Professional services
If you are an existing Bank Personal Loan customer with a clear repayment of 12 months or more, we can help you top-up your personal loan

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Special Features & Benefits of ICICI BANK