ICICI Bank offers personal loan at lowest rate of interest to those who want to achieve such facility on their urgent requirements. There several benefits of seeking personal loan from the bank at a fixed rate of interest with least number of documents.
Survey says that the ICICI Bank is rated 4.2 out of 5.0 by several customers for their flawless services. Also, seeking loan from the ICICI Bank ensures quick disbursal of the money. Also, the bank offers special discounts and schemes for employees of big companies.
The good news is that ICICI personal loan is offered at a reasonable rate of interest. Do you know that ICICI personal loan interest rate depends upon on a number of factors?
The depending factors:
- Loan amount- The interest rate on personal loan sought from the ICICI Bank depends upon the loan amount. If the loan amount is higher, the interest rate is lower.
- If you are looking for a bank that offers personal loan at a reasonable lower rate of interest, then the ICICI Bank is the right bank. The bank has its own list of companies, and if you are working in any of these companies, you can get a lower rate of interest.
- Also, your income determines the rate of interest on personal loan. The ICICI personal loan interest rate varies according to your income.
What are the ICICI personal loan bank charges?
Foreclosure charges are paid off if an individual wants to repay the whole loan amount before the end of the period. Also, ICICI Bank ensures pre-payment of personal loan through six EMIs that include one prepayment charges. Besides, the ICICI Bank charges processing fee between 0.25% and 1.50%. The minimum loan amount is Rs. 999 which comes with applicable tax.
Assess the ICICI personal loan EMI calculator
There is a ICICI personal loan EMI that you need to pay for repayment of your personal loan until the end of the tenure. The lowest EMI provided by the ICICI Bank is Rs. 2,199 per lakh loan amount.
The personal loan EMI of the bank depends upon:
- The rate of interest that affects the EMI. If the rate of interest rate is high, EMI is also high
- The longer the tenure the lower if you monthly EMI per lakh
- EMI also depends upon the personal loan that you have borrowed. The loan EMI tends to be higher if you apply for a higher loan
What are the advantages of calculating ICICI personal loan EMI?
The calculator helps you to calculate your monthly EMI at various rate of interest. Also, the ICICI EMI calculator assesses your capacity to repay the loan after you are maintaining a standard of living. After calculating with the EMI calculator, you can set the budget for other things.
What are the eligibility criteria for ICICI personal loan?
The personal loan is available to salaried people aged between 23 years and 58 years. Also, the bank set a minimum level of income to let you become eligible for the loan. Individuals with minimum income of Rs. 25,000 are eligible for the loan. Also, you have to ensure job eligibility and performance to become eligible for the ICICI personal loan application. Remember, past CIBIL history and also the repayment record of your existing loans along with credit cards has affect on your personal loan eligibility. You should know that the ICICI Bank offers personal loan that depends upon your income. To help yourself improve your chances of approval, you should apply for loan that you are eligible for.
Thus, seek ICICI personal loan that comes with an affordable rate of interest which depends on various factors.
EmoticonEmoticon