Thursday 23 March 2017

Why to Worry When ICICI Personal Loan is Here?

When it comes to availing a personal loan, it would not be wrong to say that there are plenty of leading names in the market, best known for offering this to you. But, one thing that needs to be mentioned here is the fact that among those lenders, how do you know which one is the best? Yes, choosing the best lender is something which is not everyone's cup of tea, and this is the reason that people without giving a second thought avail a loan from a lender randomly. Hence, they end up grabbing the deal which is not good for them.

So, choosing the best lender is a vital process, which every borrower needs to understand. However, those who are reading this article, for their convenience we have already selected ICICI personal loan as it is undoubtedly one of the best lenders of the country.

personal loan


Yes, being the first largest private sector bank, ICICI, a multinational banking and financial services company, headquartered in Mumbai with its enormous range of financial services and products ensures that it offers the best to all. However, among its many unique products, there is no denying the fact that the personal loan is highly in demand, known for catering the diverse needs of one and all. So, without wasting any time further, let’s just get started and discuss more about this topic below…


Personal Loan Details-


The bank offers you this credit facility at an interest rate of 11.59%-22% per annum for a tenure of upto 5 years. The lender offers the loan amount of ₹40 lakhs along with a one-time processing fee of up to 2.25% of the loan amount. Apart from this, the bank also charge the prepayment of ₹100. With all this and much more, you can easily fulfill all your personal needs as this lender is here.


Eligibility Criteria-


If we talk about the personal loan eligibility, the bank has set certain eligibility norms for both salaried as well as self-employed individuals/ professionals. The age of the applicant should be lies between 23-65 years. The minimum income of the applicants should be ₹ 17,500-25,000 per month (salaried). And, for self-employed it is ₹ 15-50 Lakh per annum. Minimum 2 years of total work experience is required and 1 year of experience with the current employer.


Documents Required-


If you are looking to avail the personal loan being offered by this renowned lender, below are the documents that you need to carry. So, take a look below to know about the documents required.


For salaried:


  • Signed loan application form with photograph
  • Identity proof- Copy of Passport/Voter ID Card/Driving License
  • Processing fee cheque
  • Latest 3 months bank statement (where salary/income is credited)
  • Last 3 months salary slips


For Self-employed:


  • Signed loan application form with photograph
  • Identity proof- Copy of Passport/Voter ID Card/Driving License
  • Processing fee cheque
  • Latest 6 months bank statement
  • Income proof with last 2 years audited financials


Features & Benefits:


  • Lowest Interest Rates
  • Fastest Approvals
  • Minimal Fee & Charges
  • Simple Documentation
  • Flexible Tenures
  • No Collateral Required


ICICI Personal Loan EMI Calculator-


Now, here comes the important part that you should also be aware of. Yes, with the help of this smart, effective and time-saving device, you would be able to know the exact calculations of your monthly installments . Within few seconds, you would be able to know how much exact amount you need to pay so as to repay your loan. And, all this and much more can easily be possible with the help of this smart device that actually does all the magic for you. It allows you to do the calculations in a hassle-free manner as all you need to have is just the loan amount, interest rate and tenure.


That’s it! You just need to feed these details into the calculator, and the moment it reads your entries, it will fetch the results for you in the least time frame. It saves time, energy and comes with the accuracy and precision. This is the reason that people today prefer to use this device as it helps them in taking a calculative and smart decision.

So, let’s just hope that you’ll keep these above points in mind while applying for this credit facility being offered by ICICI Bank.   

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