ICICI Loan Apply: Personal Loan UPTO 30 Lakh

ICICI Bank offers feature-rich personal loans up to Rs. 30 lakh for salaried professionals and self-employed individuals. The maximum loan amount, tenure, interest rate and eligibility criteria varies basis the applicant’s income, employment stability, credit score and repayment capacity. Here is a detailed guide on how to apply for an ICICI personal loan online or offline:

ICICI Personal Loan Eligibility

To be eligible for an ICICI personal loan, the applicant must satisfy the following criteria:

For Salaried Individuals

  • Age: 21 to 60 years
  • Employment: Minimum 1 year with current employer and 2 years of work experience
  • Income: Minimum Rs. 15,000 per month in metro cities and Rs. 12,000 per month in other cities
  • Credit score: 750 and above

For example, Ramesh aged 28 years, earns Rs. 50,000 per month working with XYZ Ltd. for 2 years. He meets the eligibility norms as a salaried individual.

For Self-Employed Professionals

  • Age: Between 25 to 65 years
  • Business vintage: Minimum 3 years
  • Annual turnover: Minimum Rs. 6 lakhs
  • Credit score: 750 and above

ICICI Personal Loan Amount

As per eligibility, the maximum loan amount is:

  • Salaried: Up to Rs. 30 lakh
  • Self-employed: Up to Rs. 20 lakh

Based on Ramesh’s income, credit score and company profile, he gets approved for a personal loan of Rs. 10 lakhs from ICICI Bank.

The loan amount is decided basis income stability, creditworthiness, existing obligations and repayment capacity of the applicant.


ICICI Personal Loan Interest Rates

The interest rate on ICICI personal loan ranges from 11.25% p.a. to 22% p.a. It is based on the applicant’s credit score and is as follows:

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Credit score Interest rate
750-799 11.25% to 21.55%
800-850 10.75% to 18%
Above 850 10.50% to 16%

Higher the credit rating, lower is the rate of interest.

If Ramesh has a credit score of 810, he can avail the loan at 11% interest rate.

ICICI Personal Loan Tenure

ICICI offers a flexible tenure ranging from 12 months to 60 months for repayment of a personal loan. The EMI gets lower with longer tenure, but the total interest outgo increases.

Ramesh chooses a tenure of 48 months for repaying his Rs. 10 lakh ICICI personal loan.

EMI Calculator

For a Rs. 10 lakh loan at 11% p.a. for 48 month tenure, the EMI will be:

Loan amount: Rs. 10,00,000

Interest rate: 11% p.a.

Tenure: 48 months

Monthly EMI: Rs. 24,068

Total interest payable: Rs. 2,43,248

Total cost: Rs. 12,43,248

Documents Required

Salaried professionals need to submit the below documents when applying:

  • Application form
  • Identity proof – PAN, Aadhaar
  • Address proof
  • Salary slips – Latest 3 months
  • Bank statements – Latest 6 months
  • Form 16
  • Employment proof

Ramesh will need to submit documents like PAN card, Aadhaar card, last 6 months’ bank statement, last 3 months’ salary slips and employment proof from XYZ Ltd.

Self-employed individuals need to provide:

  • Business vintage proof
  • ITRs of last 2 years
  • Other financial statements

How to Apply for ICICI Personal Loan

ICICI offers many ways to apply for a personal loan including:


  • Visit ICICI Bank website or internet banking portal
  • Go to ‘Apply for Personal Loan’ link
  • Fill the online application form
  • Upload required documents
  • Pay processing fee online
  • Click submit
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Ramesh chooses to apply online by filling the web form, uploading documents and paying fee digitally.


  • Visit nearest ICICI Bank branch
  • Ask for personal loan application form
  • Fill in details and submit with documents
  • Pay processing fee physically

The application is processed within 2-3 working days and loan amount is disbursed to approved applicants.

Benefits of ICICI Personal Loan

  • Quick processing and disbursal
  • Digital and paperless process
  • Competitive interest rates
  • Flexible repayment tenures
  • No collateral or guarantor required
  • Pre-approved offers for existing customers
  • Doorstep document pickup facility

Ramesh gets easy approval and quick disbursal into his account because of ICICI’s digital and paperless processing.

Tips to Get the Best Deal

Follow these tips to get the lowest interest rate and best deal on ICICI personal loan:

  • Maintain credit score above 750
  • Choose optimal loan tenure of 2 to 4 years
  • Provide accurate credentials and information
  • Have a long term relationship with ICICI Bank
  • Avoid multiple loan applications
  • Check pre-approved offers before applying
  • Opt for online application mode

Therefore, ICICI personal loans are quick and easy to avail for meeting urgent financial needs. By following the right process, salaried and self-employed individuals can secure an ICICI personal loan on very appealing terms.

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