ICICI Personal Loan of 1 Lakh

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Piyush Bothra
Piyush Bothra
Chief Financial Officer, Square Yards
Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

The ICICI Bank personal loan of 1 lakh is among the most reliable and sought-after personal loans in India. While it offers ready financial assistance, borrowers can repay the loan in easy Equated Monthly Installments (EMIs). 

A personal loan of 1 lakh’s EMIs has an inverse relationship with loan tenure. The higher the tenure, the smaller the monthly repayments. Coupled with interest rates, the two factors strongly influence loan EMIs. Stay tuned to find the monthly EMIs applicable on the loan for up to 7 years. 

ICICI Bank 1 Lakh Personal Loan – Highlights 

Before moving on to the ICICI Bank’s personal loan 1 lakh EMI, here is a quick overview of the loan. 

Loan Amount  1 lakh
Maximum Loan Tenure Up to 7 years
Rate of Interest (p.a.) 10.50%-16.00% p.a.
Type of Interest Rate Fixed Interest Rate
Collateral Requirement  NIL

1 Lakh Personal Loan EMI for Up to 7 Years

Let’s consider the lowest 1 lakh loan interest rate the bank offers on its personal loans, i.e. 10.50% p.a. Here is an overview of the payable EMIs on the loan for up to 7 years.

Loan Tenure Loan Amount Interest Rate (p.a.) EMI
1 Year 1 lakh 10.50% ₹8,815
2 Years  1 lakh 10.50% ₹4,638
3 Years 1 lakh 10.50% ₹3.250
4 Years 1 lakh 10.50% ₹2,560
5 Years 1 lakh 10.50% ₹2,149
6 Years 1 lakh 10.50% ₹1,878
7 Years 1 lakh 10.50% ₹1,686

Comparing ICICI Bank 1 Lakh Personal Loan 

Find out how the ICICI Bank personal loan of 1 lakh compares with other banks and Non-banking Financial Companies (NBFCs.)

Bank Name Interest Rate (p.a.) Maximum Loan Tenure
Bank of India 10.25% onwards 7 years
Axis Bank 10.49% onwards 7 years
State Bank of India 10.55% onwards 6 years
L&T Finance  12% onwards 4 years
KreditBee 16% onwards 2 years

ICICI Bank 1 Lakh Personal Loan – Fees and Charges 

The following charges apply to an ICICI Bank personal loan of 1 lakh.

  • A processing fee of 2.50% of the loan amount plus GST
  • An 18% Goods and Services Tax (GST) on all bank service
  • Other charges like loan cancellation charges and prepayment charges may also be applicable. 

1 Lakh ICICI Bank Personal Loan – Documents Required 

The complete list of  1 lakh personal loan documents of ICICI Bank is given below.

  • Loan application form with 2 passport-size photographs
  • Identity Proof: Aadhar Card/ Voter’s ID/ Driver’s License/ PAN Card
  • Proof of Residence: 3 months utility bills/ Passport/ Leave and License Agreement
  • Income Proof: Bank Statements of the last 3 months/ 3 months’ salary slips/ Balance Sheet and P&L account. 

1 Lakh ICICI Bank Personal Loan – Eligibility Criteria 

The 1 lakh personal loan eligibility for ICICI Bank is as follows:

  • Eligible Candidates: Salaried/ Self-employed
  • Age: 20-65 years
  • Minimum Income/ Turnover: ₹30,000 per month/ ₹15-40 lakhs per annum 
  • Work Experience: 2 years in current job/ 5 years in current business
  • Number of years in current residence: 1 year
  • High credit ratings

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