Translate your Dreams into Reality through ICICI Personal Loan Apply Online

Make your ends meet through personal loans and that too without disturbing your present liquidity position i.e. bank balance when ICICI bank, the most trusted bank is here to take care of all your requirements. The daily requirements such as whether a wedding in the family, funding for higher education, planning for a vacation or medical treatment or for unforeseen calamities in the future. You name your own personal requirement and ICICI bank is here to fulfill it. Personal loans are an unsecured loan which can be easily availed by any of the borrower engaged in profession/occupation or business so as to utilize it towards themselves and for their family needs.

Before applying online, the borrower needs to check his/her Personal loan eligibility criteria whether they actually fit into it. Afterward, check the prevailing interest rate applicable on it and prepare your documents ready to be submitted for the verification checks by ICICI Bank representative.

ICICI Personal Loan Eligibility

For personal loans, ICICI Bank has set up a stipulated eligibility criteria for both its salaried employees and self-employed professionals:

Salaried Employees

• The age of the loan applicant must be between 23 years and 58 years
• Minimum Net Monthly Income of the applicant should be ₹ 17,500/-
• For Delhi & Mumbai applicants the minimum Net Monthly Income ₹25,000/-
• For Bangalore, Chennai, Hyderabad, Kolkata or Pune applicants the minimum monthly income of ₹20,000/-
• Minimum 2 years of work experience with at least 1 year of work experience with the current employer.

Self-Employed Professionals

• The age of the loan applicant must be between 28 years and 65 years (Minimum 25 years for Doctors)
• Minimum turnover of the business of the applicant must be ₹40 lakhs in case of non-professionals
• Minimum turnover of the business of the applicant must be ₹15 lakhs in case of professionals
• Minimum profit must be ₹2 lakhs for self-employed individuals and proprietors (tax excluded)
• Minimum profit must be ₹1 lakh for non-professionals (excluding taxes)
• Minimum 5 years experience in business (3 years for doctors)
• The applicants should have a relationship with the ICICI bank for a minimum of 1 year such an account holder or an existing loan customer wherein the loan is either running or would end in the initial 36 months of the loan tenure

ICICI Bank Personal Loan Interest Rate

• The applicable interest rate on ICICI Personal loan ranges from 11.59% to 22.00% per annum.
• The tenure of ICICI Personal loan is upto 5 years.
• Processing fee levied on the personal loan is upto 2.25% per annum of the loan amount plus service tax.
• Prepayment charges are calculated upto 5 % per annum of principal outstanding plus service charge.

ICICI Personal Loan Apply Online

In order to apply for personal loan from ICICI online, just enter your personal information such as your name, Date of Birth, mobile number, your relationship with ICICI Bank and type of employment so as to check your eligibility. Later on, upload your required documents which are essential to apply for a personal loan and submit it. After the verification of your personal loan application gets over, the bank representative will contact you shortly.

ICICI Personal Loan Application Status

Track your application of ICICI Personal loan in an easy manner. Just visit the ICICI Bank website online, then enter your mobile number, followed by either date of birth or application number. After submitting the details, you can track your loan application status within few minutes.

Turnaround time

The turnaround time for determining a personal loan application with ICICI Bank is actually based on the profile of the borrower. If the borrower's profile meets the criteria of the bank and your documents are completed in all respects, your loan will then be approved within 72 hours after the documents submission. You need to ensure that you have your application completed with all the requisite documents including all the necessary, correct documents so that it will help you get  speedy loan approval.

Documents Required for ICICI Personal Loan

Salaried employees and self-employed professionals are eligible to apply for personal loans. They need to submit the following documents:

Salaried employees

• 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

Self-employed professionals

• 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