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ICICI Bank Personal Loan Eligibility

Personal Loan

Industrial Credit and Investment Corporation of India popularly known as ICICI Bank Ltd. is India’s one of the largest private sector bank with its headquarter in Mumbai. ICICI Bank offers wide range of banking and financial products to cater to the varying needs of the customers. The most popular product is the personal loan. ICICI Bank Personal Loan is a multi-purpose loan which can be used to meet any financial need. To avail the loan, you need to satisfy ICICI Bank personal loan eligibility criteria. 

Features of ICICI Bank Personal Loan 

  • The competitive interest rate is offered
  • No need to keep any security or collateral
  • The flexible loan repayment tenure
  • Minimum paperwork
  • Online approval of a loan
  • Easy EMI option to repay the loan

ICICI Bank Personal Loan Types

ICICI Bank offers different types of personal loan for different kinds of requirements. They are listed below-

  • Holiday Loan
  • Wedding Loan
  • Fresher Funding
  • Home Renovation
  • Top up Loan
  • NRI Personal Loan

ICICI Bank Personal Loan Eligibility Criteria

Here we present ICICI Bank Personal Loan Eligibility criteria-

ICICI Bank Personal Loan Eligibility Salaried  Self-employed
Age 23-58 years 25 years (for doctors) and 28years (others)- 65 years
Work Experience 2 years and atleast 1 year in the present job 3 years (for the doctors) 5 years (in the currennt business)
Minimum Net Income/Turnover Rs.17,500 Rs. 20,000 (for Kolkata, Mumbai, Hyderabad, Bangalore, Chennai) Rs. 25,000 (Mumbai, Delhi) Rs. 15 lakhs (professionals) Rs. 40 lakhs (non-professionals)
Credit Score  750 or above 750 or above
Tenure 12 to 60 months 12 to 60 months

Ways to improve ICICI Bank Personal Loan Eligibility

Here are few ways to improve ICICI Bank Personal Loan Eligibility-

  • Avoid making multiple loan application which will reduce ICICI Bank Personal Loan Eligibility criteria.
  • Always payoff any outstanding debts or credit card bills which will increase ICICI Bank personal loan eligibility criteria.
  • Before applying for the loan, do check the eligibility needed. Rejection of loan will decrease ICICI Bank Personal loan eligibility criteria.
  • A good credit score helps in improving ICICI Bank personal loan eligibility criteria.
  • Higher income helps you to improve the eligibility of ICICI Bank.
  • Try not to switch your job frequently. A stable job helps in enhancing ICICI Bank personal loan eligibility.

Documents required for ICICI Bank Personal Loan Eligibility

Following are the important documents which are required for ICICI Bank Personal Loan eligibility-

  • Passport size photos
  • Filled application form.
  • ID Proof- PAN Card, Voter Card, AADHAR Card, Driving License.
  • Proof of Residence- Leave and License Agreement, Passport, Utility Bills like Electricity, Gas or Water bill of last 3 months.
  • Income Proof
    • For Salaried- Salary Slip of last 3 months, Bank a/c statement of last 6 months.
    • For Self-employed- Bank Statement of last 6 months, Audited financials of last 2 financial years, Business Continuity Proof

Apply Personal Loan Online at Lowest Interest Rate Upto Rs. 40 Lacs

*Salary account or relational bank
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Loan Duration: 12 - 60 months*   T&C Apply*

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