What is your ICICI Personal Loan Eligibility?

ICICI Bank is one of the largest private sector banks that facilitates banking services like investments and financing. ICICI Bank provides personal loans, home loans, car loans, business loans, etc. and ICICI personal loan is the most-demanding loan. Since the personal loan offered by ICICI Bank is unsecured, there is a certain eligibility criteria on the basis of which the loan is approved. 

The personal loan of ICICI Bank can really prove to be helpful when there is an urgent need of money. You can get the fund for any legitimate purposes like clearing your credit card outstanding, medical bills, marriage, travel plans, etc. The personal loan interest rate is one of the lowest interest rates on personal loans. Let us know more about ICICI Personal Loan.

ICICI Personal Loan Eligibility

The eligibility criteria for a personal loan at ICICI Bank is subject to change from one profession to another. So, have a look at the eligibility for each profession:

For Salaried:

• 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

For Self-employed:

• 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 (tax excluded)
• 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 like 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

Personal Loan Eligibility Calculator

A ICICI Personal loan eligibility calculator is the tool that tells you the eligibility of the maximum loan amount that you can get on the basis of your income. This calculator is available online on the official website of ICICI Bank and also on different online portals. All you have to do is mention your income and other details as per the form and then click on check eligibility button.

ICICI Personal Loan Interest Rate

The personal loan interest rate at ICICI Bank is one of the lowest interest rates and is available at the starting rate of 10.99% per annum. This rate is floating rate and is dependent on the MCLR of the bank.

ICICI Bank Personal Loan EMI Calculator

An EMI Calculator is the tool that is used to calculate the Equated Monthly Installment (EMI) on a loan. If you want to use the calculator of ICICI Bank, you can follow the below steps:

• Go to the official website of the Bank
• Visit the personal loan EMI calculator page
• Mention the loan amount
• Set the interest rate bar
• You must choose set the tenure bar as well

On the basis of these details, you will get the graphical representation of the payments. For instance, if you put on the below details,

Loan amount- ₹10,00,000

Tenure- 5 years

Interest rate- 11.5% p.a

The detail of the payment is as follows:

EMI- ₹21,993

Total Interest Payable- ₹3,19,557

ICICI Personal Loan Status

Once you have applied for a personal loan online, you can check the application status at the official website of ICICI Bank. You must have the application ID with you to check the status of your loan application.

ICICI Personal Loan Contact Number

Even though each and every detail is available on the website, if you still have any query, you can contact the bank. The 24X7 customer care service is there to help you in any kind of confusion. You can contact the bank on the toll-free number which is different for different states.