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May 17, 2025
A Personal Loan is commonly used to fulfil lifestyle needs most salaried individuals prefer to apply for one as it is processed quickly and conveniently. Banks and NBFCS provide unsecured Personal Loans to borrowers to meet individual requirements, with terms and conditions applicable to the specific policy. Over the years, ICICI Bank has emerged as the preferred personal loan lender, offering a streamlined online process that ensures a hassle-free experience. Need a Personal Loan? Let us explore why ICICI Bank is the primary choice for Applying for a Personal Loan.
An individual’s CIBIL Score has become a vital mandate for securing credit, a Personal Loan, and a Credit Card. Banks are apprehensive about issuing unsecured credit to applicants who have not used credit and do not have a CIBIL Score. The ICICI Bank, with its robust lending track, also forwards loans to applicants who are first-time loan seekers and do not have a CIBIL Score and history. If you have a CIBIL record, you must have a CIBIL Score of 750 and above to secure a Personal Loan or Credit Card.
If you want to increase your loan amount for personal needs, Apply to ICICI Bank. ICICI Bank offers enhanced loan amounts to Prime applicants earning a salary of ₹ 1 lakh and above. The maximum loan amount of ₹ 50 lakhs is available as an unsecured loan to customers under the most favourable terms. The calculations for loan amounts are more comprehensive than those of other banks. For example, ICICI Bank considers the total net salary transferred to the bank account each month, which includes narrations such as the monthly bonus, which other Banks do not include in the calculation for eligibility for the loan amount.
Receive your Personal Loan funds within 48 hours with prioritised processing from ICICI Bank. ICICI Bank is the premier institution to have initiated a completely online application and processing system for Personal Loans. Now, applicants can apply and receive funds in the comfort of their home or office by filling out the application form online and providing soft copies of readily available documentation.
The Bank will conduct a document and CIBIL check digitally. KYC (Know Your Customer) is completed via a video call. The applicant must present the original KYC Documents, such as Aadhaar Cards and PAN Cards, and verify their signature. With all customer information accessible online, the ICICI Bank credit team approves the request within 48 hours.
The ICICI Bank Personal Loan policy encompasses customers from all segments meeting the Personal Loan Eligibility Criteria.
ICICI Bank has an extensive list of premier companies categorised as Elite, Prime, Super Prime, and Preferred. Most banks provide personal loans to employees of these organisations. Suppose you are employed by a company that does not appear on the approved list. In that case, ICICI Bank is the foremost financier offering Personal Loans to Non-Listed Company Employees. The loan amount issued is according to the customer’s net salary and obligations, without restrictions on employment in a non-listed company.
When you Apply for a Personal Loan at ICICI Bank, you can expect the lowest interest rate, starting from 10.99%. The processing fees are a one-time charge deducted from the loan amount on disbursal of funds. An agreement is sent for the customer to acknowledge, with the terms of the loan including;
The Personal Loan agreement clearly outlines all applicable charges, with no hidden fees. ICICI Bank offers 24/7 assistance through the toll-free customer care number 1800-1080. Customers can also address their queries to customercare@icicibank.com.
ICICI Bank issues a personal loan in various formats tailored to the customer’s requirements:
Personal loan Top Up: ICICI Bank values the relationship with existing personal loan customers. If surplus funds are required, the amount needed is issued as a top-up to the existing personal loan. With a Top-up Personal Loan, the applicant is offered the best-in-class interest and is comfortable paying a single EMI for the total loan amount.
Personal Loan Balance Transfer: ICICI Bank offers to take over a customer’s personal loan from another lender, paying a higher interest rate. Customers with a CIBIL Score of 750 points who pay the EMI on time receive a lower interest rate and discounted processing fees. With a Balance Transfer, the applicant can apply for an extra loan amount and restructure the loan for a longer repayment tenure.
Parallel Loan: Are you currently using a Personal Loan from ICICI Bank? ICICI Bank offers additional personal loans as a parallel loan to customers who successfully manage their existing personal loans and seek extra funds. The Parallel Loan functions independently of the existing loan, and the additional loan is granted if the applicant has the financial capacity to pay an extra EMI and meets the bank’s eligibility criteria.
In summary, ICICI Bank Personal Loans suitably assist customers with funds for personal uses such as home renovations, family weddings, travel, and emergency needs. A Personal Loan from ICICI Bank also helps create and boost a CIBIL Score within a limited period.
The ICICI Bank Personal Loan privileges are available for bank account holders and external customers therefore, why wait? Relieve your financial stress with an Instant ICICI Bank Personal Loan.
