Personal loans are a great option, and you use the borrowed money for different reasons. Personal loans are unsecured and hence do not require any collateral. The best deal currently available in the market for a personal loan is the ICICI bank personal loan.
The ICICI bank is said to be the most flexible bank when it comes to offering personal loans. The bank provides a flexible tenure according to the borrower’s needs. The ICICI bank personal loan interest rate is 10.25% per annum and is available at your service both offline and online In this article, we are going to discuss in detail how to apply for an ICICI bank personal loan.
Features of personal loan in ICICI bank
Before we dive into the process of how you can apply for a personal loan at ICICI bank, let us first figure out the features it offers.
- You can avail a loan amount of up to 25 lakhs on ICICI bank personal loan.
- ICICI Bank gives you the flexibility to choose the tenure according to your comfort. The bank offers a repayment period ranging from 12 months to 72 months (6 years).
- The bank has a feature of instant disbursal. At ICICI Bank you can get our loan amount within 3 seconds if your loan is pre-approved.
- ICICI Bank has this special feature of ICICI Bank Balance Transfer, in which you can get a loan amount with an attractive rate of interest and extended tenure without much hassle.
Types of ICICI bank personal loans
There are a lot of reasons why you can borrow personal loans thus ICICI bank has created different types of Personal loans.
This loan is appropriate to cover all and any wedding expenses you may experience. The ICICI Bank offers a rate of interest of 10.50 % p.a. onwards on this loan. You can avail of a loan amount of 25 lakhs. The bank offers a tenure of 12 months to 6 years. This loan scheme has minimal documentation requirements.
The holiday loan of ICICI bank helps you cover any travel expenses like flights, hotels etc. The bank charges you a rate of interest of 10.50%. You can borrow a loan amount from anywhere between 5 thousand to 25 lakhs with a repayment period of 12 months to 6 years.
You can borrow this loan to buy new furniture or even repair whatever you want to. The ICICI Bank gives you a loan amount ranging from 50 thousand to 25 lakhs. The rate of interest offered is 10.50% p.a onwards and has a tenure of 12 months to 6 years.
If you are fresher and face an urgent need for a small amount of cash without much hassle, then ICICI bank has the perfect scheme for you. In the freshers funding scheme, you can avail of a loan of up to 1.75 lakhs on the basis of your first salary. It has an interest rate of 10.50% p.a onwards and a tenure ranging from 12 months to 72 months.
How to apply for a personal loan at ICICI Bank?
Let us check out the steps that you have to follow while applying for a personal loan at ICICI Bank.
- Go to the ICICI bank’s official website.
- Check if you have a pre-approved loan.
- If not then, search for “Personal loan”.
- Check your eligibility before finalising the scheme.
- Fill up the necessary information.
- Click “Submit” once done.
- Soon somebody from the bank will reach out to you to complete the remaining formalities.
Documents required at ICICI Bank
The important documents you need to have to apply for the ICICI personal loans are:
For salaried employee
- Identity proof: PAN card, Aadhar card, Voters ID, Driving license or Passport.
- Residence proof: Passport, Utility bills like electricity bills or telephone bills (not older than 3 months) or leave and license agreement.
- Income proof: Bank statements and salary slip for the last 3 months.
- Your 2 passport size photographs.
- KYC documents: Identity proof, Address/Residence proof and Date of birth proof.
- Residence proof: Leave and license agreement, Utility bills like electricity bills or telephone bills (not older than 3 months) or Passport.
- Income proof: Income proof of the last 2 years audited finance along with last 6 months’ bank statements.
- Other documents such as Office address proof and proof of continuity of your business.
Personal loans are the best if you need money on an urgent basis. ICICI bank offers this facility seamlessly, you can avail of the same both offline and online. The personal loan at ICICI bank has a quick disbursal and quick application feature. The bank also offers attractive interest rates and comfortable tenures (that are negotiable).