FAQs on ICICI Bank Personal Loans

What are the minimum and maximum loan amounts?
You can avail of loans ranging from Rs 1,00,000/- to Rs 15,00,000/- depending on your eligibility, income and repayment capacity.

What are the loan tenure options?
The loan can be repaid over a period of 12 to 60 months.
Are there any additional charges?
A processing fee of 2 % or 3 % depending on the location of the loan amount is payable upfront. This fee will be deducted from the disbursal amount payable to you.
How much time will it take for my loan to be approved?
Loans are approved within 72 hours of submission of complete documentation.
Do I have to provide any security, collateral or guarantors?
No security, collateral or guarantors are required for obtaining a Personal Loan.
How do I repay the loan?
You can repay the loan in Equated Monthly Instalments (EMI’s) through post-dated cheques favouring ICICI Bank Limited, or if you have an ICICI Bank account you can mandate us to directly debit the same.
Can I prepay my loan?
Yes, you can prepay the entire loan outstanding after paying 6 installments of availing the same. Prepayment charges as applicable would be levied on the outstanding loan amount. No part prepayment is allowed.
Do I need to open an account with ICICI Bank for availing and/or servicing the loan?
We will encourage you to start a banking relationship with us so that we will be able to offer a host of other value added services, which are complementary to the loan, however opening an account with us is not mandatory.

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