ICICI Bank Personal Financing

ICICI Bank provides personal loans of approximately Rs. 20 lakh, which can be easily availed with very little paperwork for a tenure of 12 to 60 months. Relying on your requirement you can choose from different kinds of individual finances offered by ICICI Financial institution consisting of Wedding event Car loan, Vacation Car Loan, House Renovation Loan, Better Financing and also NRI Personal Loan. Keep reading to know various details regarding ICICI Bank Personal Loan.

Features

• Quick Loan Disbursal: ICICI Bank promises to attribute the desired Loan quantity in your account within a period as brief as 3 secs. This function is available for pick customers upon completion of on the internet verification and also approval of last offer
• Loan Amount: ICICI Bank offers individual financings as much as Rs. 20 lakh with flexible end-use. All one requires to do is apply online or visit any kind of neighboring branch to obtain their car loan application refined
• Fixed Interest Rate: ICICI Personal Financing Rates of interest start from 11.25% p.a.
• Minimal Documentation: Application process is easy as well as requires marginal paperwork, therefore making it incredibly easy and practical for individuals who want to use
• Flexible Loan Tenure: The finance tenure varies from one year to 60 months. Consumers have the choice to select the loan tenure according to their expediency
• Personal Loan Balance Transfer: With ICICI Financial institution, you can also select Personal Loan Equilibrium Transfer wherein anybody can decrease their EMIs by transferring their existing high passion personal car loan to ICICI bank at a lower price

Interest Rates

Personal loan Interest rates of ICICI Bank  ranging from 11.25% to 17.99% p.a. Special interest rates are applicable to personal loan for NRIs which start from 15.49% p.a. Specific personal loan interest rates applicable to an applicant are dependent upon multiple factors including but not limited to credit score, loan amount, customer segment and location.

Types Of ICICI Bank Personal Loans

Depending on the end-use, personal loans can belong to one of the following categories:

1. Wedding Loan

ICICI Bank Wedding celebration Loan supplies you the added funds that you may require to deal with the last minute immediate wedding costs like venue reservation, guest accommodation, food catering, buying, jewelry, invite cards, and so on. The application procedure is straightforward and requires minimal paperwork. Some crucial functions of ICICI Bank’s Wedding celebration Finance are as adheres to:

• Wedding celebration Loan rate of interest start as low as 11.25% p.a
• One can avail financing amount as much as Rs. 20 Lakh
• The documents process is simple and also minimal so the Loan application is refined promptly
• No collateral/security is required

2. Home Renovation Loan

ICICI Financial institution supplies house restoration car loan for individuals who desire to get their residence remodelled. This personal Loan can money essential repairs or aid the applicant obtain new fittings, components and furnishings for their house. Some crucial functions of ICICI Financial institution House Restoration Car Loan are:

• Rate of interest for ICICI Financial institution’s House Renovation Loan starts at as low as 11.25%.
• People might be eligible for a car loan amount up to Rs. 20 Lakh to get their home remodelled.
• Residence remodelling finance from ICICI Financial institution calls for minimal documentation making the whole Loan process inconvenience cost-free.
• The financing amount normally obtains credited right into the account within 72 hours as soon as the financial institution authorizes your application.

3. Vacation Loan

ICICI Financial institution’s Vacation Financing can aid you arrange for your desire vacation with marginal trouble. This individual finance from ICICI can money a series of vacation-related costs consisting of trip ticket booking, hotel holiday accommodations, guided scenic tours, etc. Key functions of ICICI’s Holiday Financing are:

• Rates Of Interest for Vacation Loans begin at 11.25% p.a
• You can easily get an amount of up to Rs 20 Lakh so your dream holiday will not be ruined because of an economic crisis.
• Simplified as well as minimal documentation makes certain that loan your trip is straightforward and also simple.
• Quick processing as well as disbursal of financing which is credited straight to your account.

4. Fresher Loan

A bulk of unprotected personal loans are targeted at individuals with a normal revenue nonetheless ICICI Bank’s Fresher Loan is various. This finance option from ICICI Bank is designed to aid betters i.e. a current graduates seeking their very first task. Some vital attributes of ICICI Bank Better Financing personal loan are as follows:.

• Car loan amount approximately Rs 1.5 lakh.
• Candidate should to be at the very least 21 years of ages.
• The interest rate for Better Loan relies on the account of the financing applicant, the credit history/score, age as well as location of the applicant.

5. NRI Personal Loan

Understanding the needs and also dreams of NRIs, ICICI Bank supplies a personal loan especially for NRIs. The primary finance candidate needs to be an Indian local and the co-applicant NRI must be a close relative. Individual Loan for NRIs consists of the following features.

• ICICI Financial institution uses NRIs individual financings approximately Rs. 10 lakh with flexible end usage.
• The rates of interest for NRI Personal Car loan begin at 15.49% p.a.
• The finance features a tenure of approximately 36 months.

6. Top Up Loan

ICICI Bank provides top-up loan on existing personal car loans to help people fulfill their step-by-step financial requirements. There are two leading up loan alternatives used by ICICI Bank to an applicant. You can either select to obtain a new financing along with your existing personal Loan to fulfill a new financial need or obtain a top-up on your existing individual financing. In case you opt for 2 different Loan, you will require to pay separate EMIs– one for the existing financing and also an additional for the new finance. However, if you choose a top-up on the existing loan quantity you pay a single combined EMI on the whole loan amount. A Leading up Financing consists of the following attributes:.

• The rate of interest begin at as reduced as 11.25% p.a.
• These finances do not require any collateral/security.
• The paperwork entailed is minimal therefore handling and also disbursal are quick.

Documents required for Loan Application

The following documents are required to avail ICICI Bank Personal Loan:

For salaried professionals:

• Identification Proof : PAN/Aadhaar/Passport/ Citizen ID/Driving License, and so on (any one).
• Residence Proof : Utility Bill (less than 3 months old)/ Valid Rent Agreement, etc. (any kind of one).
• Salary slips for last 3 months.
• Latest 3 months bank statement of salary account.
• 2 passport size photos.

For self- employed individuals:

• KYC Documents: Proof of Identity, DOB proof, Address evidence, etc
• Proof of Residence: Rent Agreement/ Utility Bill (less than 3 months old), and so on (any one).
• Income proof (audited financial report for the past two years)
• Proof of office address.
• Bank Statement of the previous 6 months.
• Proof of business continuity.
• Proof of residence/office ownership.