ICICI Personal Loan of 5000

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Written By
Utsah Sharma
Utsah Sharma
Utsah Sharma is a seasoned financial expert with a Master’s Degree in Commerce specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & Loan products. Drawing on her experience, she has established herself as a trusted voice, providing invaluable insights and guidance to seasoned investors and beginners. She is committed to breaking down the complexities of everything finance.
Reviewed By
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.

ICICI Bank is one of the leading banks that offers a wide range of services and banking products to its customers. ICICI Bank understands that financial support is very critical to turning your dreams into reality. That’s where ICICI Bank personal loans come into the picture. ICICI Bank personal loans come with a range of features to make your borrowing experience convenient and affordable. For instance, you can choose a flexible loan amount, benefit from competitive interest rates, and enjoy quick approval and disbursal of funds. The repayment options are designed to be convenient, allowing you to select a tenure that suits your financial capabilities. Let’s discuss about instant 5,000 ICICI Bank Personal Loan. 

5,000 Personal Loan ICICI Bank – Highlights

Here is a quick snapshot of the highlights for ICICI Bank personal loan 5,000.  

Features Highlights
ICICI Bank Loan Amount Up to Rs. 50 lakhs
Approval & Disbursal Instant, within 3 seconds
Interest Rate 10.50% -16.00% per annum
Repayment Tenure 12 to 84 months
Prepayment Charges None
Eligibility Candidate must be 20+, salaried, good credit
Documentation Minimal: ID, salary, bank statement
Customer Care 1800 200 3344

5,000 Personal Loan EMI for 1- 5 & 7 Years

Here is a snapshot of 5,000 personal loan EMI for 1 year. 

Loan Amount  5,000
Interest Rate  10.50%
Tenure  12 months
EMI INR 441

Take a look at 5,000 personal loan EMI for 2 years. 

Loan Amount  5,000
Interest Rate  10.50%
Tenure  24 months
EMI INR 232

Here is the snapshot of  5,000 personal loan EMI for 3 years. 

Loan Amount  5,000
Interest Rate  10.50%
Tenure  36 months
EMI INR 163

Here is the snapshot of 5,000 personal loan EMI for 4 years. 

Loan Amount  5,000
Interest Rate  10.50%
Tenure  48 months
EMI INR 128

Here is the snapshot of 5,000 personal loan EMI for 5 years. 

Loan Amount  5,000
Interest Rate  10.50%
Tenure  60 months
EMI INR 107

Here is the snapshot of 5,000 personal loan EMI for 7 years. 

Loan Amount  5,000
Interest Rate  10.50%
Tenure  84 months
EMI INR 84

Compare 5,000 Personal Loan ICICI Bank with Other Banks & NBFCs.

The following table compares ICICI Bank personal loans with those of other banks:

Parameters ICICI SBI HDFC Bank Axis Bank Bank of Baroda
Quantum of Loan Up to Rs. 20 Lakhs Up to Rs. 20 Lakhs Up to Rs. 40 Lakhs Up to Rs. 15 Lakhs Up to Rs. 10 Lakhs
Rate of Interest 10.50% onwards 11. 00 % onwards 10.50% onwards 10.49% onwards 10.10 % onwards
Processing fees 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 (Min Rs. 2,999/- and maximum Rs. 25,000 plus GST Up to 2% of the loan amount plus GST Up to 2% of the loan amount

Min. Rs. 1,000 and Max. Rs. 10,000 plus GST

Pre-payment charges 5% of the loan amount plus GST Up to 3% of the outstanding principal amount Between 2% to 4% of the outstanding amount Nil Nil
Balance transfer and top-up Yes No Yes Yes No
Eligibility Salaried only Salaried Only Salaried Only Salaried Only Salaried plus self-employed

5,000 ICICI Personal Loan – Fees and Charges

Following are the fees and charges that an individual needs to pay. 

Fee/Charge Amount
Interest Rate 10.50% to 16.00% per annum
Processing Fee Up to 2.50% of the loan amount + applicable taxes
Prepayment Charges 3% of principal outstanding 
Additional Interest on Late Payment 24% per annum
Repayment Mode Swap Charges Rs. 500 per transaction + applicable taxes
Loan Cancellation Charges Rs. 3000 + applicable taxes
EMI Bounce Charges Rs. 500 per bounce + applicable taxes
Non-Maintenance of Mode of Payment Rs. 800 per month + applicable taxes

5,000 Personal Loan Documents Required – ICICI Bank

Documents required for the ICICI Bank 5,000 personal loan include the latest salary slips, bank statements, and government-approved ID proofs. 

5,000 Personal Loan Eligibility ICICI Bank

Following is the basic eligibility criteria for 5,000 ICICI Bank Personal Loan. 

  • The individual should have a regular source of income, like a job or a business. 
  • He or she should be a resident of India
  • He or she should have a healthy credit score.

Personal Loan By Banks

Frequently Asked Question (FAQs)

What is the ICICI Bank monthly interest on a 5,000 personal loan?

The interest rate for an ICICI Bank 5,000 personal loan starts at 10.50%.

Can I get a 5,000 personal loan from ICICI Bank?

Yes, if you meet the basic eligibility criteria, then you are fit to get a 5,000 personal loan from ICICI Bank.

How do I get a 5,000 loan without a salary slip from ICICI Bank?

You will need to get in touch with the bank’s staff to collect more details about it.

What is the credit score for 5,000 personal loan with ICICI Bank?

A healthy CIBIL score of above 700 is the minimum required to be able to apply for a personal loan.

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