ABOUT ICICI BANK

The ICICI Bank is Today a household name. It offers a wide range of Banking products & financial services for its corporate & retail customers.

Originally promoted in 1994 by ICICI Ltd, an Indian financial institution & was its wholly owned subsidiary. In October 2001, the Boards of Directors of ICICI and ICICI Bank approved the merger of ICICI and two of its wholly-owned retail finance subsidiaries, ICICI Personal Financial Services Limited and ICICI Capital Services Limited, with ICICI Bank. The merger was approved by shareholders of ICICI and ICICI Bank in January 2002.

Today The ICICI Bank is India’s largest private sector bank with total assets of Rs. 7,206.95 billion (US$ 109 billion) at March 31, 2016 and profit after tax Rs. 97.26 billion (US$ 1,468 million) for the year ended March 31, 2016. ICICI Bank currently has a network of 4,450 Branches and 14,393 ATM’s across India.

WHY ICICI BANK

In the Personal Loan Segment ICICI Bank has a huge market presence, having the 3rd largest portfolio, preceded by HDFC Bank & SBI.

The Personal Loan via the ICICI Bank is granted without any collateral or security. Customers can use the funds for any family emergency, holiday, marriage or any family function, to meet lifestyle expenses without any restrictions.

ICICI Bank offers its customers a hassle free & convenient process. The Personal loan product has been designed with the aim to serve ICICI Bank account holders & other walk in personal loan applicants efficiently. Every effort is made to make available easily, within the shortest turnaround time.

Prominent Features of the ICICI Bank Personal Loan.

  • No Collateral or security required.
  • Loan amount offered from .50 k up to 25 lacs.
  • Fixed Rate of Interest applicable @ monthly reducing balance.
  • Flexible Loan repayment options from 12 months to 60 months
  • Convenient repayment facility for payment of monthly installements through ECS (Electronic clearing system)
  • Attractive Rate of Interest.

 Eligibility Criteria for Personal Loan for Salaried Applicants.

  • ICICI Bank provides Personal Loans to all citizens of Indian Origin.
  • Minimum Age of Applicant should be over 23 years, loan processed for tenure up to 60 years.
  • Monthly Salary credited to Bank should be above 25,000/- per month.
  • Job stability or continuity of 2 years is mandatory.
  • A CIBIL score of above 720 points is required for loan amount more than 5 lacs.
  • Applicant should be having his own residence or be living with his family in a rented premise.
  • An Educational qualification of Graduation is required.

 Personal Loan products from ICICI Bank.

The ICICI Bank provides a Personal Loan to all ICICI Bank Account holders, Customers having a relationship with ICICI Bank & also to new Customers who are eligible for a Personal Loan as per the ICICI Bank policy. Applicants can apply for a;

  • Fresh personal loan – Applicants can apply for loan amounts as per their eligibility.
    The bank calculates loan amount broadly on the basis of the monthly income of the applicant. All obligations are deducted & the Emi calculated as per the tenure should not be more than 50% of the monthly net income.
  • Top- Up – A Customer already running a personal loan with HDFC Bank can apply for an additional amount if required. The Top-Up or extra funds are disbursed under the conditions that the customer is paying his EMI’s on time & he is eligible for the extra loan amount.
  • Pre-Approved loan for ICICI Bank account Holders– ICICI Bank Salary account holders are given the option of availing extra funds in the form of a Pre-Approved Personal Loan. This privilege is given to customers who have maintained regular minimum balance in their accounts with a good CIBIL Score.
  • Balance Transfer – Under the Balance Transfer programme External personal loan account holders can transfer their personal loan to ICICI Bank & avail a better terms & conditions. For further information on ICICI Personal loan Balance Transfer please refer to http://www.yourloanadvisors.com/personal-loan/balance-transfer/icici/. 

ICICI BANK RATE OF INTEREST & OTHER CHARGES FOR PERSONAL LOAN

The Rate of  Interest &  processing fees for Salaried Personnel are based on the Net Salary & the Company applicants are employed with. The ICICI Bank has devised Company category list as per the nature of business & turnover. Company the applicant is employed with should be in existence for 5 years.

Given below is a Rate Chart as per the ICICI Bank policy for the benefit of our customers.

SALARY CRITERIA  RATE OF INTEREST PROCESSING FEES PRE CLOSURE CHARGES
CAT A CAT B OTHERS
SPECIAL COMPANIES 12.75% – 15.75% 999/- NIL FOR LOAN AMOUNT > 10 lacs
NIL after 12 EMI’S PAID ELSE 5%
SALARY ABOVE 75OOO 15.50% 16.00% 16.00% 1% – 2.5% NIL FOR LOAN AMOUNT > 10 lacs
NIL after 12 EMI’S PAID ELSE 5%
SALARY FROM 50,000 – 75,000 16.00% 16.50% 16.50% 1% – 2.5% 5% AFTER EMI’S PAID.
SALARY FROM 35,000 – 50,000 16.50% 17% 17% 2.50% 5% AFTER EMI’S PAID.
SALARY FROM 20,000 – 35,000 17% 17.50% 17.50% 2.50% 5% AFTER EMI’S PAID.
SPECIAL RATES FOR
LOAN AMT B/W 5-20 LACS
11.59% – 14.99% 11.59% – 14.99% 11.59% – 14.99% NIL FOR LOAN AMOUNT > 10 lacs
NIL after 12 EMI’S PAID ELSE 5%
  • Charges for late payment of EMI are levied at rate of 2% of the monthly EMI.
  • If due to any reason there is a bounce of the EMI (equated monthly installement) Rs 400/- will be charged per bounce.
  • Cheque swapping charges are 500/- per transaction.
  • Applicant can at any time ask for the Amortization schedule (which gives details of payments made & outstanding amount) charges for the same are Rs 200/-per schedule.
  • The Bank will charge Rs 200/- for a duplicate of the Repayment or foreclosure certificate.
  • Personal loan cancellation charges stand at Rs 3000/-.

The bank has the sole discretion over charging the service tax and other charges as applicable as per prevailing rate & policy.

DOCUMENTS REQUIRED FOR PROCESSING

KYC DOCUMENTS.

  • Proof of Identity – Passport / Driving License / Voters ID (any one)
  • Proof of Residence – Leave and License Agreement / Utility Bill (not more than 3 months old) / Passport (any one).
  • Aadhar Card Copy.
  • 2 Passport Size photographs.

FOR INCOME PROOF.

  • Pan Card Copy.
  • Latest 3 months Bank Statement (where salary/income is credited).
  • Salary slips for last 3 months.
  • Form 16 (latest).

SPECIAL OFFER ON TOP CORPORATES

RATE OF INTEREST PROCESSING FEES
  SALARY ICICI BANK SALARY ACCOUNT OTHER BANK SALARY ACCONT ICICI BANK SALARY ACCOUNT OTHER BANK SALARY ACCONT  
EMRALD COROPORATES NTH >/= 35 K 10.99%   0.99%
  NTH < 35 K 11.49%   1.25%
DIAMOND CORPORATES NTH >/= 35 K 10.99%   0.99%
NTH < 35 K 12.49%   1.35%
PEARL CORPORATES ALL BANDS 13.99% 14.75% 0.99% 1.25%  
RUBY CORPORATES ALL BANDS All bands 15.50% 15.75% 1.50% 1.75%
TOPAZ CORPORATES ALL BANDS All bands 15.50% 15.75%    
RELIANCE GROUP All bands 12.99% 0.75%  
ICICI GROUP EMPLOYEE All bands 11.75% 1999  

TOP INDUSTRY OFFER

Special Industry Offer
BFSI All bands 13.99% 0.99%
Pharma All bands 13.99% 0.99%
PRIVATE BANKS NTH >/= 75 K 12.75% 2999/-
NTH 35K – 75K 12.99% 2999/-
NTH13.49%2999/-
PSU BANKS NTH >/= 50 K 13.25% 1.49%
NTH 35K – 50K 14.70% 1.49%
NTH

UNMATCHED RATES FOR GOVERNMENT EMPLOYEES

GOVERNMENT DAIMOND ,PEARL , RUBY NTH >/= 75 K 11.29% 1.50%
NTH 35K – 75K 11.50% 1.50%
NTH <35 K 13.50% 1.50%

APPLY FOR PERSONAL LOAN

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