ICICI Bank Housewife Personal Loan

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Hepson Franklin
Hepson Franklin is a seasoned financial expert and accomplished writer specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & loan products. With a wealth of experience in the financial industry, he has established himself as a trusted voice, providing invaluable insights and guidance to both seasoned investors and those new to the world of finance. With a comprehensive understanding of the intricate facets of the financial landscape, he is dedicated to demystifying complex financial concepts for readers of all backgrounds.
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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 best thing about an ICICI women’s personal loan is its lower interest rate. Even slightly lower rates eventually allow you to save thousands of rupees for longer repayments. Moreover, as a female applicant, you can also avail of benefits such as flexible repayment, moderate eligibility criteria, minimal documentation, and a generous loan amount. Thus, Urban Money offers a brief overview of this appealing financing option to empower hard-working and independent women. Namely, we will provide details regarding ICICI women’s personal loan interest rates, applicable fees, eligibility, and required documents. We will also compare this loan with offerings from leading banks that provide the same, enabling you to determine the most cost-effective financing option.

ICICI Personal Loan for Women – Highlights

The following are the key parameters of an ICICI women’s personal loan:

                                                                      Highlights
Loan Amount Up to Rs 50 lakh
Interest Rates 10.50 p.a. onwards
Loan Tenure 1 year to 7 years
Eligibility Female applicants who have a regular source of income.

Compare ICICI Women Loan From Other Banks

Following is the comparison of an ICICI women’s personal loan with other leading banks and NBFCs in India:

Lender Interest Rate (p.a.) Processing Fee Max. Loan Amount Max. Loan Tenure
ICICI 10.50% onwards Up to 2.5% of the loan amount Rs 50 lakh 7 years
Axis Bank 10.25% onwards Up to 2% of the loan amount Rs 40 lakh 7 years
Union Bank 10.30% onwards Nil Rs 50 lakh 7 years
IndusInd Bank 10.49% onwards Up to 2% of the loan amount Rs 25 lakh 5 years
IDFC First Bank 10.49% onwards Up to 3.5% of the loan amount Rs 1 crore 7 years
HDFC Bank 10.50% onwards Upto Rs 4999 Rs 40 lakh 5 years
Kotak Mahindra Bank 10.99% onwards Up to 3% of the loan amount  Rs 40 lakh 6 years
Tata Capital 10.99% onwards Rs 76  Rs 35 lakh 6 years
Federal Bank 10.49% onwards 2% of the loan amount  Rs 25 lakh 5 years
Bajaj Finserv 11% onwards Up to 3.93% of the loan amount Rs 40 lakh 6 years

ICICI Personal Loan for Women – Fees and Charges

Following are the applicable fees and charges for an ICICI women’s personal loan:

Fee/Charge Amount
Processing Fee Up to 2.5% of the loan amount + Applicable taxes
Prepayment Charges 3% on outstanding principal, (Nil if 12 or more EMIs are paid)
Interest on late payment 24% per annum
Repayment Mode Swap Charges ₹500/- per transaction plus applicable taxes
EMI Bounce Charges ₹500/- per bounce plus applicable taxes
Loan Cancellation Charges ₹ 3000/- plus applicable taxes before the 1st EMI.

ICICI Personal Loan for Women – Documents Required

The required documents for an ICICI housewife personal loan are as follows:

Proof of Identity: Aadhaar Card, PAN Card, Passport, Voter ID or Driving License.

Proof of Address: Passport, Driving License, or Registered Rent Agreement.

Proof of Income: Last 3-month bank statement.

Proof of Employee: Last 3-month salary slips. 

ICICI Personal Loan for Women – Eligibility Criteria

The ICICI women’s personal loan eligibility criteria are as follows: 

  • You must be aged between 20 and 58 years
  • You must have a minimum monthly income of Rs.30,000
  • You must have at least 2 years of work experience. 
  • You must have resided at your current address for more than 1 year.
  • You must have a good credit score and repayment history.

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