Industrial Credit and Investment Corporation of India is one of the largest private commercial banks of India. We here at moneysuperbazaar provide information on ICICI Bank personal loan offers, procedure to apply for the loan, repayment of the loan etc. ICICI bank provides personal loan for any kind of financial assistance be it for renovation of the house, buying a laptop or for marriage related expenses.  ICICI Bank personal loan guarantees all the short term financial needs. ICICI bank personal loan review upholds that it is a one stop shop for fulfilling all the financial aspirations. ICICI bank also offers online application and processing of loan. Read below offers, features and many more of ICICI Bank Personal Loan scheme, ICICI Bank Personal Loan rate of interest, ICICI Bank Personal Loan eligibility criteria in detail.

Some Of The Major Benefits Of An ICICI Bank Personal Loan Are:

• No security/guarantor required
• Loan up to Rs. 10 lakhs
• Attractive rates of interest

ICICI Bank Personal Loan Rate Of Interest :

ICICI Bank personal loan interest rate may be fixed or floating. ICICI Bank personal loan rate is very competitive and attractive. Under the fixed interest plan the rate of interest will remain fixed throughout the tenure of the loan. ICICI Bank personal loan interest rate based on floating rate is 9.25% for loan amount upto Rs. 4 lakhs. However, above an amount of 4 lakhs ICICI Bank personal loan interest rate is 10%.

What Are ICICI Bank Personal Loan Eligibility Norms?

ICICI bank personal loan eligibility is based on following under mentioned conditions.

• Age of Borrower should not be below 25 and above 58 on date of application.
• Net monthly salary should not be below Rs. 20,000.
• Employees should in employment of public limited companies, private limited companies, government companies or MNC’s.
• Employee should be employed for at least 2 years and should be residing in the current residence from at least 1 year.

Documents Required For Availing Loan And Procedure Thereof :

ICICI Bank personal loan requires minimum documentation.  It is also apparent from ICICI bank personal loan review that ICICI bank loans are processed in minimum time. Documents that are required to file after qualifying for ICICI bank personal loan eligibility norms are:

• Proof of ID like Passport/Voter’s ID/Driving License/Pan Card
• Proof of residence that may be Ration Card/Passport/LIC policy receipt/utility bill.
• Last 3 months salary account bank statement.
• Last 2 months salary slip.

ICICI Bank personal loan can also be applied online.  After the required documents are submitted with the complete application form loan will be processed within 3 days.

Repayment Procedure And EMI :

ICICI Bank personal loan repayment options are very flexible ranging from 12-48 months. Borrower requires to pay instalments (including principle amount and amount calculated on ICICI Bank personal loan interest rate) through Account Payee post dated cheques that should be drawn in favour of ICICI Bank Ltd.

Consequences Of Default In Repayment :

In the event of a default, ICICI Bank Personal Loan review states that bank will recover the loan amount at the cost of borrower.

Pre-Closure Option To Repay Loan Before End Of Tenure :

ICICI Bank personal loan review further shows that that for pre closure of the ICICI Bank personal loan account, documents like the bank statement indicating last paid instalment, request letter form signed by the applicant, pan card is necessary. The payment can be made in cash or cheque. The pre closure cannot be made before 6 months. Further the ICICI Bank personal loan review says that it may at its sole discretion utilise the service of external service providers or agents to collect amount of principle and amount calculated on ICICI Bank Personal Loan rate.

Product page url of official website of ICICI bank - The ICICI bank website is www.icicibank.com and the information on loans is available at http://www.icicibank.com/Personal-Banking/loans/personal-loan/index.html  ICICI bank branch addresses: