All About ICICI Personal Loan

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ALL ABOUT ICICI PERSONAL LOAN
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What Is A Personal Loan?

• A personal loan is a handy tool to manage your
  various financial needs
• It enables you to close any budget gaps that
  might occur, regardless of your income bracket
• One can take up a personal loan for various
  needs such as home renovations, paying huge
  bills, making a major purchase, weddings etc
• A personal loan is unsecured as it is not backed
  by any collateral
• The interest rates of a personal loan is much
  higher as compared to other types of loans

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Why Choose ICICI Personal Loans?

• ICICI bank personal loan offers a fixed rate of
  interest throughout the tenure of the loan
• The documentation process for applying as
  personal loan is simple and swift
• Only KYC documents are required this eliminates
  complicated documentation processes
• The loan processing and the sanctioning process
  is quick and efficient
• Loans can be disbursed easily in case of cash
  crunches, without a lengthy waiting period
• It permits direct credit of the loan to the
  applicants account through Fund Transfer,
  without waiting for cheque clearance

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Basic Features of ICICI Personal Loan

• It is a flexible loan, which can be used for
  various expenditures that are unavoidable and
  need to be attended on an urgent basis
• These loans are provided for a time period of 1-5
  years
• No form of security or collateral is required to
  avail an ICICI personal loan
• Low interest rates as compared to other banks
• Settlement of the loans can be done through
  Electronic Clearing Service (ECS), PDC and Auto
  Debit Facility

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Eligibility Criteria

• The Minimum age to apply for a personal loan is
  23 - 58 years for salaries individuals and 25-65
  for self-employed persons.
• An individual with a minimum monthly income
  Rs.17,500 is eligible to apply for a personal
  loan.
• For self-employed individuals, the minimum
  turnover required is Rs. 40 lakh for
  non-professionals and Rs. 15 lac for
  professionals.

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