ICICI Bank Personal Loan Interest Rate 2025

Looking for a personal loan with easy repayment options? As of February 2025, ICICI Bank offers personal loans at an annual interest rate of 10.85%, catering to various needs like debt consolidation, weddings, travel, and medical emergencies. Borrowers can avail up to ₹50 lakh with flexible repayment terms. With a seamless application process, minimal documentation, and no collateral required, ICICI Bank ensures quick loan approvals. Continue reading to know more about ICICI Bank’s personal loan options.

ICICI Bank Personal Loan Interest Rate Highlights

ICICI Bank personal loan interest rate varies between subtypes. Here is a quick overview of ICICI personal loan interest rate:

Types of ICICI Bank Personal Loans

Here is a detailed overview of the different types of personal loan schemes at ICICI Bank:

Flexi Cash: 

• This personal loan scheme offers a personal loan overdraft facility to respective salary account holders of ICICI Bank so they can end up paying for any unexpected needs during times of emergency. 
• The processing fee applicable for this scheme is Rs. 1,999 plus taxes. 

Pre-Approved Personal Loan Scheme

• In this loan scheme, selected ICICI bank customers are chosen and offered instant personal loans with disbursement of loans within 3 seconds. 
• The maximum loan amount applicable in this scheme is Rs. 50 Lakh with a tenure of 1 to 5 years. 

NRI Personal Loan

• The main motive for opting for this personal loan is satisfying the individual needs of Non-Resident Indians. 
• The maximum loan amount applicable under this scheme is Rs. 10 Lakh. 

Top Up Loan

• ICICI Bank account holders can avail loan top-up facility on existing loans with feature of speedy processing along with quick disbursement facility for meeting the personal needs of applicants.
•  The loan amount applicable under this loan type is Rs. 50,000 to 25 Lakh. 

ICICI Bank Fresher Funding

• The main aim of opting for this personal loan is to assist freshmen along with other new staff in covering their personal costs. 
• The maximum loan amount applicable under this scheme is up to Rs. 1.5 million. 

ICICI Bank Balance Transfer

• The aim of opting for this personal loan scheme is to allow the existing borrowers of other banks or NBFCs to transfer their personal loans to ICICI Bank at comparatively cheaper rates. 

Features Of ICICI Bank Personal Loan Scheme

Some of the distinguishing characteristics of ICICI Bank personal loan scheme are as follows:

• Zero Foreclosure Charges: There are no foreclosure charges after you complete paying 12 EMIs.
• Flexible Tenure: ICICI Bank offers its customers personal loans with facility of repayment tenure of up to 72 months or 6 years
• Fixed Rates of Interest: ICICI Bank customers benefit mainly from a steady rate of interest.
• No Collateral: The personal loan ICICI Bank provides is collateral-free, i.e. there is no need to pledge any collateral. 
• Loan Amount Up to Rs. 50 Lakh: With an ICICI Bank personal loan, you can opt for a loan amount of up to Rs. 50 Lakhs to reach your desired financial goals.
• Zero Hidden Charges: With the personal loan scheme of ICICI Bank, zero hidden charges are applicable.

ICICI Bank Personal Loan Interest Rate 2025

ICICI Bank’s personal loan interest rate is pre-defined after taking into account various factors, such as market conditions and creditworthiness. Borrowers may also calculate their monthly payments using the Cleartax ICICI Bank personal loan EMI calculators The table below shows the recent interest rates offered by ICICI Bank:

ICICI Bank Personal Loan Schemes Interest Rate

ICICI Bank provides a wide range of personal loan schemes tailored to an individual's financial needs. The table below displays the interest rate applicable for various personal loan schemes under ICICI Bank:

Factors Affecting ICICI Bank Personal Loan

Here are some factors to consider for determining the rate of interest for availing a personal loan from ICICI Bank:

• Place of Residence: ICICI Bank's risk assessment determines if borrowers from metro cities get rates different from those from smaller towns. The interest rate is usually lower in urban areas due to higher income opportunities and more financial stability.
• Salary Bracket: Low-risk borrowers mean higher-income persons and may have lower rates. The bank can charge a higher rate if you have a lower salary since the risk of repayment difficulties cannot be covered through its higher rate of interest.
• Source Of Income: The bank provides a range of rates given to salaried employees with stable jobs as compared to those self-employed with unstable income and business risk.
• Credit Score: ICICI generally offers lower rates of interest to borrowers possessing a credit score of 750 or above. The higher the score, the lower the rate or even the rejection of the loan application.
• Loan Tenure: If your loan tenure is short, it can have higher interest rates, but you would pay less interest on the whole. Low rates mean longer tenures but also mean higher total interest payments in the long term.
• Category of Loan Scheme: Rates on personal loans for salaried individuals may be different from usual rates. There are special loan schemes with lower rates based on some special needs, such as wedding plans or home renovations.

Eligibility for the Personal Loan Scheme from ICICI Bank

Let us look into the eligibility criteria in more detail:

Age

• A salaried applicant should be minimum 23 years of age  and maximum 8 years of age
• On the other hand, the minimum age for self-employed applicants is 28 years while the maximum age is 65 years. 

Income

• For salaried applicants, the minimum monthly requirement of income is Rs. 30,000.
•  It is mandatory for applicants to show a minimum profit of Rs. 2 Lakh and Rs. 1 Lakh for non-professionals. 

Employment

• The employed individual should be employed at least for two years in the profession or at their current place of employment.
• A self-employed individual however should be employed in current business for five years minimum. 
• For individuals employed in the medical sector, this limit reduces to three years. 

Credit Score

• A good credit score plays a vital role in determining the eligibility criteria of a personal loan. 
• Maintaining a high credit score improves your chances of availing a loan at good terms and conditions. 

Residence

• The applicant must be a resident of India with a valid residential address. 
• It is essential for the applicant to live at their current residence for at least a year. 

Documents Required For Applying for ICICI Personal Loan

For applying for a personal loan with ICICI Bank, submitting some relevant documents is a must. Here are some mandatory documents you must carry while applying for the loan at ICICI Bank:

• Identity Proof: Voter ID Card, Passport, Aadhaar card and PAN card
• Income Proof: Salary slips during the last three months along with Income Tax Returns (ITR), Form 16 in the previous two years, or any proof of business continuity applicable for self-employed individuals
• Bank Statements: Presenting bank statements for the previous six months is mandatory
• Address Proof: Passport, Aadhaar card, Voter ID Card, and utility bills that include electricity or telephone bills
• Passport size photographs

Fees and Charges Of ICICI Personal Loan Scheme

The table below displays a detailed overview of fees and charges associated with the ICICI Bank personal loan scheme:

ICICI Bank Personal Loan EMI Calculator

The Cleartax ICICI Bank personal loan EMI calculator is a convenient online tool for calculating the equated monthly instalments to be paid by a borrower after availing a personal loan. Enter the desired loan amount, loan tenure, and rates of interest for computing the EMI amount and interest payable for the entire loan tenure. 

ICICI Bank Personal Loan Customer Care

ICICI Bank provides customer care support for answering queries relating to personal loan. For this, you can call their toll-free number at 1800 1080 and enquire about the eligibility for the loan, interest rates, EMI payment, and the other box too. There is a 24-hour customer care service available for people who may not be able to use the website. 

Final Thoughts

ICICI Bank's personal loans provide a hassle-free borrowing option with competitive interest rates, flexible repayment period, and instant disbursal. With lesser documentation and customer-friendly services, borrowers can efficiently manage finances. But determining the eligibility and having a high credit score is the key to availing hassle-free lending.