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ICICI Bank Personal loan

* Attractive Interest rates of 11.59% on wards.
* Avail loans from INR 50,000 to INR 20 lakhs
* Instant approval facility.
* Flexibility in payment options for first 60 months.

* Disbursement within 72 hours.
* No security or guarantor required.

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ICICI Bank Personal Loan

ICICI bank offers loans in various categories for customers. It’s easy to apply for personal loan. Banks approves loan instantly and help customers to resolve their issues. Customer can borrow loan amount up to 20 Lakhs. Here, loan approval process is easy and secure in lowest documentation. ICICI bank offers personal loan facility to people to fulfill their instant requirement related to personal tasks. Approval of loan is quite manageable and bank approves it least time duration without any complication. One thing that user must always remember that there are some certain criteria related to their eligibility, documentation, financial security, guarantor and other activities. Approved loan can be easily use for multiple requirements like home renovation or repairing, medical expenses, marriage expanses, holiday trip and other valuable tasks. Bank offers loan not only for salaried but for self employed individual too, so that they can easy fulfill their needs and grow their business respectively. As per the loan approval protocol of bank, loan will approved by the bank within 72 hours of request submission. To help borrowers bank impose lucrative or affordable interest rate and borrower can return amount in tenure of 1 to 5 years, as per their financial condition without taking extra burden on regular expenses.

ICICI bank benefits and features

Flexible Tenure, EMI and Payment Option
ICICI bank offers personal loan for all individual at lucrative rate, at the same time offers sufficient loan refund tenure between 1 to 5 years. Customer can easily repay loan via EMI or other options as per their comfort and financial condition.

Multipurpose Loan
Personal loan approved by the icici bank will be helpful in paying college fees, holiday trip, hospital expenses and renovation of home. These are the main reason why personal loan is also known as home loan.

Flexible Interest Rate
Interest rate is quite manageable and bank current interest rate is quite economical. Calculation of interest rate will be based on overdue amount. Once the interest amount and EMI is paid then main amount will be repaid.

Repayment Option of Personal Loan

a. Post declared cheque (PDC)
b. Facility of auto debit from customer icici bank account.
c. Another easiest system is electronics clearance system (ECS).

Easy Documentation
These days applying for personal loan become quite easy; application can be easily submitted online. During all these process least or minimal paper work will be required as per bank criteria.

Affordable Interest Rate
As we know that interest rate may vary with time as policy decided by the respective bank or RBI. ICICI bank current interest rate for personal loan is stable between 10.99% and 17.99. These rates will be imposed on the basis of loan amount. Another factor that pay vital role in interest rate variation are internal policy of respective bank, CIBIL or credit score of applicants and repayment history of respective authority.

Personal Loan as Unsecured Loan
ICICI bank offers unsecure personal loan for all candidates that too without any guarantor or security related concern.

Loan Amount
As we know that ICICI bank personal loan is available for both salaried and self employed persons. Id applicant is doctor by profession then he can easily avail loan of INR 40 lakhs, if you are salaried employee then you will be able to avail loan of 20 lakh and if in case you are self employed then will be able to get loan amount of INR 30 lakhs.

Important Document for ICICI bank Personal Loan (For Salaried Employee)

1. Valid proof of Identity: - Driving License / Voters ID / PAN Card/Passport (any one).
2. Last three month salary slip.
3. Last three month bank statement.
4. 2 passport size photograph.
5. Valid residence proof: - Utility Bill (not more than 3 months old) / Passport/ Leave and License Agreement (any one).

Important Document for ICICI bank Personal Loan (For Self Employed)

1. Valid know your customer (KYC) documents:- Address proof; DOB proof; Proof of Identity.
2. Office address proof.
3. Last 6 month bank statement.
4. Office ownership proof.
5. Proof of business continuity.
6. Proof of residence: - passport/ Bill (not more than 3 months old)/ Leave and License Agreement (any one).
7. Audited financials for the last two years as income proof.

Information regarding current Interest Rate

1. Interest rate:- 11.59 - 17.50%
2. Minimum income:- 20,000/- per month
3. Loan amount :- 25 lakhs
4. Foreclosure charges: - 0-5%.
5. Processing Fees:- Rs.999 for Special offers otherwise 1% - 2.5%.

ICICI Bank Personal Loan Eligibility (for salaried employee)

1. Candidate age must be between 23-58 Years.
2. Applicant must hold valid account on ICICI or other bank.
3. At least two year old job profile.

ICICI Bank Personal Loan Eligibility (for self employed)

1. 28 years and 25 years (for doctors); Maximum age - 65 years.
2. Rs.15 lac for professionals, Rs.40 lac for non professionals.
3. Current business status: 5 years for others and 3 years for Doctors.

Why to Choose ICICI bank Personal Loan

Fast Loan Approval
Bank offers the quickest process to approve loan along with fastest amount disbursal process. These facilities give it special identity to respective bank.

Instant E-Approval
ICICI bank offers the facility to its customers to apply for personal loan from their home online without wasting their valuable time in queue. After the submission of application form, after cross validation of application form, bank sends instant e-approval facility and allow them to utilize their approved amount.

Customized Personal Loan
One of the interesting things about this bank loan approval is that users will get the liberty to apply for loan as per their Need. As we know that everything is absolutely scheduled and as per criteria of bank and RBI. Amount is fixed as per the eligibility of individuals and on basis of their professional background. Repayment tenure will remain the same.

ICICI Bank Personal Loan Cons

1. Higher Interest Rate: If we compare interest for personal loan with interest rate imposed by the credit card are higher than the previous one, but sometime it is hard to manage these rates. It can be said that user need to thing about this fact before opting for personal loan.
2. Eligibility or Qualification Criteria: As per banking provision, to avail personal loan successfully, excellent credit score is required and without this loan approval is quite tough. So always try to maintain healthy credit score. One of the main reasons behind the rejection of low credit score is irregular payment of emi and remaining dues. So it can be easily understand that loan approval is matter of eligibility norms decided by the respective bank.
3. Dynamic Interest Rate: As we know that interest rate are subject to change and may vary for individual on basis of their credit score. Your lower credit score will be responsible for accomplishment of higher interest rate. If you have lower score will be reason for strict loan approval policy and due to this reason back impose strict repayment related terms and condition.

Why to apply for ICICI Bank Personal Loan on

a. Assured Privacy: assures the complete safety of their application along with personal information and transfer to the loan department of icici bank.
b. Facility to Check Eligibility Instantly: Applykaroo offers the facility to user to check their eligibility regarding loan approval amount, as per criteria decided by the respective bank, in just two minutes.
c. Regular Updates: All eligible candidates will receive updated information about the recent offers and interest rate.
d. Facility to Compare Loan Amount: Applykaroo avails the facility to compare facts related to interest rate and other facts offered by the other bank under equal eligibility criteria.

Steps to Apply for ICICI Bank Personal Loan on

a. As primary step user just need to fill valid personal information along with salary and other required one. After the submission tool will automatically validate all information, then forward it to next section.
b. Bank will validate information and will verify the previous credit history to go for further processing.
c. After the completion of all the processing applykaroo will forward application form to respective bank.

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