Criteria Salaried

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

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?

• 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

Charges

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.