ICICI Personal Loan Interest Rate Affordable Enough To Fulfill Your Need

Are you unable to collect funds to satisfy your needs then apply for ICICI personal loans, It provides you a loan amount at a starting interest rate of 11.25% per annum. Pay your borrowed loan amount in equated monthly installments (EMI), to calculate your loan EMIs you can use ICICI personal loan EMI calculator. Read this article to know more about ICICI Bank personal loan services and benefits.

Lowest ICICI personal loan interest rate

You can borrow a maximum principal amount of Rs. 20 lakh from ICICI Bank by applying for an ICICI personal loan. The ICICI personal loan interest rate ranges from 11.25% to 22.00% and provides you a maximum loan repayment duration up to 5 years. Make easy payment of your borrowed loan amount in monthly installments. To calculate your loan installments you can use ICICI personal loan EMI calculator.

How to use ICICI Bank personal loan EMI calculator?

You can easily calculate your loan EMI by using the ICICI personal loan EMI calculator. Visit ICICI Bank official website and go to ICICI personal loans click on the EMI calculator button. You will then be directed to the EMI calculator page. After that enter your principal loan amount, loan duration and rate of interest in the EMI calculator. Then it will show your total payable interest and outstanding loan amount in graphical representation.

The ICICI personal loan EMI calculator determines your monthly loan installments using the formula [P x R x (1+R)^N]/[(1+R)^N-1]

For example, if you have taken a personal loan of INR 1 lakh for wedding expenses or any other usage. And your ICICI personal loan interest rate is 12.39% with a loan duration of 33 months. Then your monthly EMI would be INR 3,829 with a total payable interest of INR 19,651.

Eligibility for the ICICI personal loans

What makes you eligible for ICICI personal loans, there are some factors on which your loan depends. ICICI Bank personal eligibility criteria differ for salaried to self-employed individuals, have a look at the below-mentioned criteria to know about it.

Salaried Individual: If you are a salaried individual then your age should be between 23 to 58 years with a net monthly income of INR 25,000. You must have 2 years of job experience with 1-year of experience in the current organization.

Self-employed Individual: For a self-employed individual the required age for ICICI personal loan is from 28 to 65 years. The minimum turnover of INR 40 lakh is required for if you are a non-professional or businessman otherwise professionals should have a minimum turnover of INR 15 lakh. As per the audit financials, the minimum profit should be 2 lakh for professionals and 1 lakh profit for non-professional.

With the lowest ICICI personal loan interest rate and easy repayment options, you can fulfill any urgent need of money with ICICI bank personal loans such as for wedding expenses, education purposes, medical emergency, etc. If you are an existing account holder or loan customer of ICICI bank then you get instant disbursement service.