ICICI Personal Loan EMI Calculator, Interest Rates #getting #a #loan #with #bad #credit

#personal loans calculator

ICICI Bank Personal Loan Interest RatesUpdated on 19 Nov 2015

About ICICI Bank Personal Loan

ICICI Bank is not only the largest private sector banks in the country but also one of the largest facilitators of personal loans in India. ICICI Bank offers personal loans to help borrowers to ride over any immediate financial requirements. ICICI Banks understand that time is of paramount significance when faced with financial crisis and hence fast tracks all its personal loan applications resulting in quick loan approval and facilitation. Nominal documentation is required to apply for ICICI Personal Loan with a maximum loan limit of up to Rs. 20 Lakhs available for eligible borrowers. ICICI Banks personal loans do not require ant security or guarantor for personal loans. The money available through ICICI Bank personal loans can be used as per the individual needs and requirements of the applicant including medical expenses, foreign travel, home repair or renovation, wedding expenses or any other miscellaneous expenses.

ICICI Personal Loans are available for both salaried as well as self employed individuals and working professionals. ICICI Bank employs a quick loan approval system making sure that all personal loan requests are approved within 72 hours of submission of complete documentation.

The bank offers very lucrative interest rates for personal loans with a tenure period ranging between 12 to 60 months. ICICI Bank offers loan liability cover for personal loan applicants by insuring all personal loan liability with ICICI’s ‘All Safe’ Insurance.

Why choose ICICI Personal Loan?

Customized Personal Loans: Unlike a lot of other banks, ICICI Bank offers customized personal loans for every loan applicant. Everything from loan tenure to maximum loan amount is fixed as per the individual financial track record of the borrower. Salaried individuals can get a maximum loan up to Rs. 15 lakhs while self-employed individuals can get a loan up to Rs. 30 lakhs. For professionals like doctors and chartered accountants, the maximum personal loan limit is Rs. 40 lakhs and a flexible tenure of 12 to 60 months for all applicants.

Attractive Rate of Interest: ICICI Bank offers personal loans at an attractive rate of interest, starting with as low as 13.99% interest rate.

Fast Loan Approval: ICICI Bank facilitates quick loan approval and disbursal making it one of the most popular banks for personal loan applicants.

Minimal Documentation: ICICI Personal Loans do not require large documentation process and loans are facilitated after minimal documentation increasing the loan disbursal time substantially.

Cover for Loan Liability: In a unique benefit offered by ICICI Bank, all personal loan applicants can now insure their loan liability with an ‘All Safe’ insurance provided at no extra cost.

Instant E-Approval: ICICI Bank offers its users the advantage of applying for a personal loan online sitting at their home or office directly and through its partnering site BankBazaar.com The bank sends an instant e-approval for all successful online personal loan applicants in real time.

Features of ICICI Bank Personal Loan

ICICI Bank offer customized personal loans for every applicant, thereby making sure that each loan applicant gets the best deal. From low interest rates to quick loan approval and minimal documentation, ICICI Bank offers dedicated loan schemes for personal loans for self employed professionals, self employed non-professionals as well as salaried individuals. Some of the apparent benefits of ICICI Personal Loan include:

High Quantum of Loan: ICICI Bank offers one of the highest quanta of loan amount for personal loan applicants. Salaried individuals can attain a loan of up Rs. 15 lakhs while specialized working professionals like doctors can get a personal loan of up to Rs. 40 lakhs. ICICI Bank offers personal loan according to the financial overview for each individual applicant.

Lucrative Rate of Interest: ICICI Bank offers one of the lowest interest rates for personal loans. The bank personal loan starts from as low as 13.99%. ICICI Bank however reserves the right to revise the rate of interest and processing fee from time to time, at its sole discretion.

Online Loan Requests: ICICI bank has been one of the first banks to embrace technology and offers online loan requests from applicants. Personal loan applicants can apply for a loan by sitting in the comfort of their home and office through BankBazaar.com. After submission of online loan application, the bank sends an instant e-approval notice to the successful applicants.

Low Prepayment Charges: ICICI bank offers lowest prepayment charges for all personal loans as compared to other private sector banks in the country.

24/7 Customer Support: ICICI Bank has a dedicated customer support helpline for its loan department making it accessible for any query or requirement 24 hours a day.

Why apply for ICICI Personal Loan on BankBazaar.com?

ICICI Bank has joined hands with BankBazaar.com, India’s premier financial marketplace portal for making the bank’s personal loans available for all. Users can now apply for personal loans with ICICI Bank using the state of the art online loan application tool of BankBazaar.com. The loan tool automatically checks for loan eligibility and lists out customized personal loan details from ICICI Bank.

Instant Eligibility Check Facility: The loan calculator tool of BankBazaar.com checks for personal loan eligibility for each applicant according ICICI Bank’s prescribed criteria and offers personalized loan offers instantly.

Customized Quotes: The eligible loan applicants are offered instant quotes customized as per their profile and with a discounted interest rate.

Loan Comparisons in Real Time: Successful applicants can choose their personal loan from the various loan option provided by the loan calculator tool of BankBazaar.com. Users can also customize their personal loan plans by altering their tenure and loan amount subject to the maximum loan amount calculated as per their financial history.

E-Approval Facility: Every loan applicant at BankBazaar.com gets an instant e-approval after successfully submitting his or her loan application.

Assured Privacy: BankBazaar.com assures complete privacy for all loan applications made through us. We send applications electronically to the concerned loan section of ICICI Bank.

How to apply for an ICICI Personal Loan on BankBazaar.com?

Applying for an ICICI Personal Loan at BankBazaar.com involves three simple steps.

Step 1: The loan applicant must fill the loan eligibility form with correct personal data including financial records like salary/ monthly income, other liabilities etc. Once submitted, the tool automatically checks for personal loan eligibility of the applicant and personalized personal loan options are displayed instantly.

Step 2: In the second step, the applicant is given a list of loan options as per his or her financial history. The users can compare various loan options and choose the most appropriate one.

Step 3: In the third and final step, the applicant receives an instant e-approval from BankBazaar.com after successful submission of personal loan application online.

BankBazaar.com instantly submits the loan application electronically to the loan department of your nearest ICICI Bank branch, and the bank gets in touch with you directly. Users can also check the status of their loan application through SMS alters as well as emails.

ICICI Bank Personal Loan Interest Rates

Apart from the processing fee of up to 2.50%, the ICICI Bank personal loan will attract an interest rate between 13.00% and 18.00%. In the event that a person defaults on the repayment, an interest rate of 2% per month will be charged, which translates into a rate of 24% per annum. If someone decides to go in for the prepayment option then they may be charged an amount equal to 5% of the principal outstanding amount. It needs to be kept in mind that the rates of interest, and any other charges for services, are subject to change as per bank policies.

ICICI Bank offers lowest interest rates for its loan applicants. The bank can however change its Personal Loan Interest Rates from time to time as per its discretion.