ICICI Personal Loan of 4 Lakh

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Amrita Sinha
Amrita Sinha
Amrita Sinha comes with a background in journalism and mass communication, drawing from her roots in journalism, she has found her voice in the world of finance. As an accomplished writer, she specialises in Financial Services, Mutual Funds, Loan Assessments, Banking & Loan Products. She has established herself as a reliable expert in the field, offering valuable advice to those looking to navigate the various aspects of personal finance.
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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.

Today, financial needs can arise anytime, and having a reliable solution for them is crucial. ICICI Bank, a trusted name in the Indian banking sector, offers Personal Loans tailored to meet various needs, whether it’s for travel, home renovation, or a wedding. And 4 lakh is a really good amount to address such needs. With the option to borrow up to Rs. 50 Lakhs ICICI Bank ensures minimal documentation for a hassle-free experience. 

One of ICICI Bank Personal Loans’ standout features is its flexibility. There are no restrictions on how you use the funds, allowing you to address your specific needs. The process is marked by instant approval, ensuring quick access to funds. The loan terms are flexible, ranging from 12 to 84 months, allowing you to choose a tenure that fits your repayment capacity. Moreover, the interest rates are fixed, and consistent throughout the loan period. Let’s discuss more about 4 lakh ICICI Bank personal loan.  

4 Lakh Personal Loan ICICI Bank – Highlights

Here are the basic highlights of getting an ICICI Bank 4 Lakh personal loan. 

Maximum Loan Amount 50 lakh
Maximum Loan Tenure 84 months
Interest Rate 10.50%-16.00%

ICICI Bank 4 Lakh Personal Loan EMI for 1 Year

Loan Amount 4 Lakh
Rate of Interest (p.a.) 11.25% 
Loan Tenure 1 Year
EMI Rs.35,399

ICICI Bank 4 Lakh Personal Loan EMI for 2 Year

Loan Amount 4 Lakh
Rate of Interest (p.a.) 11.25%
Loan Tenure 2 Year
EMI Rs. 18,690

ICICI Bank 4 Lakh Personal Loan EMI for 3 Year

Loan Amount 4 Lakh
Rate of Interest (p.a.) 11.25%
Loan Tenure 3 Year
EMI Rs.13,143

ICICI Bank 4 Lakh Personal Loan EMI for 4 Year

Loan Amount 4 Lakh
Rate of Interest (p.a.) 11.25%
Loan Tenure 4 Year
EMI Rs.10,387

ICICI Bank 4 Lakh Personal Loan EMI for 5 Year

Loan Amount 4 Lakh
Rate of Interest (p.a.) 11.25%
Loan Tenure 5 Year
EMI Rs.8,747

ICICI Bank 4 Lakh Personal Loan EMI for 7 Year

Loan Amount 4 Lakh
Rate of Interest (p.a.) 11.25%
Loan Tenure 7 Year
EMI Rs.6,902

Comparing ICICI Bank 4 Lakh Personal Loan with Other Banks & NBFCs.

Repayment Tenure  12-60 months 12-72 months 12-60 months 12-60 months 12-60 months
Rate of Interest  11.25% onwards 10. 50 % onwards 10.75% onwards 12% onwards 11.60 % onwards
Processing charges Up to 2.25% of the loan amount plus GST Up to 1% of the loan amount plus GST Up to Rs. 2.50% of the loan amount  Up to 2% of the loan amount + GST Up to 2% of the loan amount
Pre-payment charges 5% of the loan amount + GST Up to 3% of the outstanding amount Between 2% to 4% of the outstanding amount  NA NA
Balance transfer and top-up Yes No Yes Yes No
Eligibility Salaried only Salaried Only Salaried Only Salaried Only Salaried plus self-employed

ICICI Bank 4 Lakh Personal Loan – Fees and Charges

As a customer of the ICICI Bank, you must pay the following charges and fees if you want to avail 4 lakh ICICI Personal Loan amount. 

  1. Processing Fee: Upto 2.50% of the loan amount plus GST
  2. Goods and Services Tax: 18% GST on all bank services
  3. Other Charges: Loan cancellation charges, prepayment charges along with others 

ICICI Bank Personal Loan 4 Lakh- Documents Required

Here are all the key documents required for a 4 Lakh ICICI Personal Loan. 

  • Loan Application Form (2 attested passport-size photographs)
  • KYC Documents: Aadhar Card, Driver’s License, Passport, Voter’s ID, previous 3 months’ utility bills (electricity,water bills) 
  • Income Proofs: Last 3 months’ salary slips/ Last 3 months’ bank statements/ Balance sheet and P&L account

ICICI Bank Personal Loan 4 Lakh – Eligibility Criteria

Want to apply for a 4 Lakh ICICI Bank Personal Loan, here is the eligibility criteria you need to know. 

  • Borrowing Eligibility: Self-Employed/ Salaried
  • Age: 20-65 years
  • Minimum Income/ Turnover: ₹30,000 per month/ ₹15-40 lakhs per annum 
  • Work Experience Required to apply for ICICI Bank personal loan: 2 years in current job/ 5 years in current business
  • Number of years at current residence: 1 year
  • Healthy credit score

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Frequently Asked Question (FAQs)

What is the ICICI Bank monthly interest on a 4 Lakh personal loan?

The interest rate for ICICI Bank personal loan is between 10.50%-16.00%. The interest rates can differ depending on your requirements, the amount of loan applied for, and tenure.

Can I get a 4 Lakh personal loan from ICICI Bank?

Yes, if you pass the eligibility criteria, then you can easily get an instant 4 lakh personal loan from ICICI Bank.

How to get a 4 Lakh loan without a salary slip in ICICI Bank?

In such a case, you can try and apply for an ICICI Bank personal loan with a co-applicant.

What is the cibil score for a 4 Lakh personal loan for ICICI Bank?

One should have a healthy CIBIL score (between 750-900) so that your ICICI Bank personal loan can get approved.

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