ICICI Bank Personal Loan can assist you fulfil a wide range of budgetary needs during a crisis. It’s an unsecure loan that can be utilise to cover marital expenses, unexpected expenses, or to fund a dream vacation or home renovation.
You can take up a ICICI Personal Loan of up to Rs 25 lakh to satisfy your own necessities. Personal loans from ICICI Bank are uncomplicate to obtain and have a rapid permit process. Furthermore, with the Insta Personal Lending or pre-approve loan services, you can get funds in as little as 3 seconds. This function is only accessible to ICICI bank customers who have already establish a relationship with the bank.
Rates and Charges of ICICI Personal Loans
- Personal loans of ICICI bank have yearly interest rates ranging from 10.5 percent to 19 percent. There may be non-refundable loan application and transaction fees, as well as GST.
- The processing charges of the loan is 2.25% of the loan amount + GST.
- Second, if you are a salary borrower and want to pay off the remainder of your loan, ICICI bank charges you a Prepayment Charge of 5% + GST on the outstanding principle.
- There are no fees if you return the loan with your own money.
- The repayment period of ICICI personal loan can be up to 60 months.
- A 24-percentage-point yearly interest charge is apply to delay payment.
- In terms of Repayment Method Swap fees, each transaction costs INR 500 + GST.
- For the loan cancellation EMI, there is a cost of INR 3000/- plus GST. A cost of INR 400 with GST will be charge for each bounce.
Perks of ICICI Personal Loan
Applying out a personal loan from ICICI has significant economic advantages:
- After your approval is obtain, the cash is transferr into your wallet three seconds later. This service is known as Insta Personal Loan.
- ICICI Bank has the option of choosing the loan period. You can apply for a loan with a term ranging from one to six years.
- The online services of ICICI Bank Make sure you maintain track of the status of your petition and that you get any assistance you require as soon as possible.
- There is only a little amount of paperwork that has to be finish.
- The interest rate is fix for the duration of the loan and will not change.
- You don’t have to furnish any collateral because it’s an unsecure loan.
Final Thoughts
By coming to the bank with the necessary papers, you can apply for a personal loan from ICICI Bank. If you are an existing ICICI bank customer, you can fill out the imobile application or go to the bank’s website to get a quick financing.
Depending on whether you are a current and prospective customer, the time it takes for your application to be approved varies. Your personal loan application will almost probably be accepted right away if you already have an ICICI Bank savings account, credit card, or other type of debt. Based on past experience with the bank, you will be offered affordable ICICI personal loan interest rates.
Everything you have to do to receive the best personal loan is be cautious and focus on your personal loan eligibility requirements. When asking for a personal loan, your CIBIL score is the most important criterion to consider. To enroll for the lowest ICICI personal loan interest rate, focus on improving and maintaining your CIBIL score. If you’re a potential customer, the bank may ask for personal and contact information so that it can contact you. Once all of the papers have been verified, your application will be examined for approval. It may take up to 3 to 5 days for your application to be finalized once it has been granted.
Read Also: What are the eligibility requirements for a personal loan?
