ICICI Bank provides personal loans to its customers for different financial needs at very affordable rates of interest along with benefits like reasonable repayment options, hassle-free documentation process, top-up loan facilities, and quick loan disbursals. mymoneykarma gives you all the information you need on ICICI Bank personal loans.
Benefits of ICICI Bank Personal Loans
ICICI Bank personal loans are loaded with a host of customer-oriented benefits and features. Here are a few highlights of ICICI Bank personal loans.
- Significant loan amounts ranging from a minimum of Rs 25,000 to a maximum of Rs 20 lakhs. The loan amount depends on the applicant's repayment capability, credit score, credit history, and yearly income.
- Long loan tenures ranging from a minimum of 12 months and a maximum period of 60 months.
- Attractive interest rates ranging between 11.50% - 16.75% per annum.
- Loans available for salaried individuals, public and private company employees, and government employees.
- Special offers on the applicant being an existing customer of ICICI Bank.
- Various feasible repayment channels such as NEFT, post-dated cheques, and ICICI net-banking.
- Facility of personal loan transfer from other banks to ICICI Bank.
- Simplified loan application and approval process with minimal documentation.
- Dedicated 24/7 customer service desk for query resolution.
Types of ICICI Bank Personal Loans
ICICI Bank offers the following types of personal loans to its customers.
Holiday Loans
These loans from ICICI Bank can be used for planning holidays to exotic locations in India and abroad.
Eligibility Criteria
- Minimum income of Rs 17,500 per month in non-metro cities.
- Minimum income of Rs 20,000-25,000 per month in metro cities
- Sound repayment capability
- Competetive credit score
- An age range of 25-58 years for salaried individuals.
- An age range of 28-65 years for self-employed individuals.
- Minimum work experience of 2 years for salaried people, 5 years for self-employed people, and 3 years for doctors.
Wedding Loans
These personal loans from ICICI Bank can be used to cover the costs of a wedding in the family or of the applicant.
Eligibility Criteria
- Minimum income of Rs 17,500 per month in non-metro cities.
- Minimum income of Rs 20,000-25,000 per month in metro cities
- Sound repayment capability
- Competetive credit score
- An age range of 25-58 years for salaried individuals.
- An age range of 28-65 years for self-employed individuals.
- Minimum work experience of 2 years for salaried people, 5 years for self-employed people, and 3 years for doctors.
Home Renovation Loans
These personal loans from ICICI Bank can be used much like a home loan, to upgrade or renovate the applicant’s house.
Eligibility Criteria
- Minimum income of Rs 17,500 per month in non-metro cities.
- Minimum income of Rs 20,000-25,000 per month in metro cities
- Sound repayment capability
- Competetive credit score
- An age range of 25-58 years for salaried individuals.
- An age range of 28-65 years for self-employed individuals.
- Minimum work experience of 2 years for salaried people, 5 years for self-employed people, and 3 years for doctors.
NRI Personal Loans
These personal loans from ICICI Bank can be to mitigate costs of medical and family emergencies and is available for NRI customers.
Eligibility Criteria
- Minimum income of Rs 17,500 per month in non-metro cities.
- Minimum income of Rs 20,000-25,000 per month in metro cities
- Sound repayment capability
- Competetive credit score
- An age range of 25-58 years for salaried individuals.
- An age range of 28-65 years for self-employed individuals.
- Minimum work experience of 2 years for salaried people, 5 years for self-employed people, and 3 years for doctors.
