ICICI Bank Personal Loan in Bangalore

ICICI is an Indian Bank with more than 5000 branches and about 15000 ATMs all over India, it has a presence in 17 countries. ICICI Bank offers a wide range of financial services to its customers including personal loans. Applying for a personal loan in ICICI Bank gives a pleasant experience to the loanee because of the easy process, quick approval, and disbursement of the loan. In any emergency financial requirements, a personal loan can be availed in ICICI Bank hassle-free.

ICICI Bank Personal Loan Details

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Eligibility criteria for ICICI Bank personal loan

Following are basic eligibility criteria for ICICI Bank personal loan

For Salaried

• Minimum Age: 21 years
• Minimum Monthly Income: 30,000/-
• Work Experience: Minimum work experience should be 1+ years & with current employer minimum 1 month

For Self Employed Professionals

• Minimum Age: 25 years
• Minimum Annual Income: 5,00,000/- per year
• Work Experience: Minimum 3 years in business with proper Certification & Licence

Documents Required for ICICI Bank Personal Loan

For Salaried

• Identity & Age Proof: Pan Card, Aadhar Card, Voter ID, Passport
• Address proof: Passport, driving licence, Voter ID, utility bills (electricity/water/gas), Registered Rental Agreement
• Bank statements for the last 3 months
• Salary Slips along with latest Form 16 or ITR or your company offer letter
• Bank Statements Latest 3 months or 6 Months Bank Passbook

For Self-Employed Professionals

• Identity & Age Proof: Pan Card, Aadhar Card, Voter ID, Passport
• Residence proof: Passport, Driving licence, Voter ID, Utility bills (electricity/water/gas)
• Date of Birth proof: Passport, Driving licence, Pan Card, Birth Certificate, 10 th or 12 th Marks Card, or Aadhar Card
• Bank Statements: Latest 3 months or 6 Months Bank Passbook
• Latest Income Tax Returns
• Last 2 years Balance Sheet and Profit & Loss Account and duly certified by a Chartered Accountant

ICICI Bank Interest Rate and Charges

• Rate of Interest : 10.50% to 17%
• Loan Amount : 50K to 40 Lakhs
• Tenure : 1 to 5 Years
• Loan Processing charges : 2.5% + GST
• Cheque bounce charges : Rs. 400 per cheque bounce + GST
• Pre-payment Charges : 5% on outstanding amount
• Default Interest rate : 24% per annum

*Subject to change as per Bank's discretion from time to time

why to choose ICICI Bank for personal loan?

• We help to get the loan at the lowest interest rate offers by multiple Banks and NBFCs
• We allow you to compare loan interest rates
• Easy loan Process
• We assist you with documentation until the loan disbursal.
• We guide you in loan Repayment & Pre-payment
• Our support is available even post loan disbursement

How to apply for a personal loan with ICICI Bank?

• Submit your details
• You will get a call from our customer support team
• Our Executive will come and collect required documents
• Loan Approval and disbursement

Things to keep in mind while applying for a personal loan in Bangalore

• Firstly, try with the branch of your bank, if you have any prelateship with the bank such as a salary or savings account or if you have taken any loan as it is easier to verify your KYC
• Compare personal loan interest rates, processing charges, the penalty for pre-payment/foreclosure, etc. with various banks and decide
• You should have maintained a high credit score as it increases the chances of your loan getting approved. Remember, this is only of the conditions for eligibility. The bank will evaluate it along with other conditions while reviewing your loan application to approve the loan
• If you have existing loans ensure the repayments are on time. As it is also an important factor to improve your chances of getting the loan