A personal loan refers to money that is borrowed from a financial institution, for personal (not professional or business) use. In opposition to larger and long-term loans, personal loans are taken into relatively short to medium terms. Generally personal loans are used to pay for one-time or short term expenses where a borrower (the person who is getting the loan) doesn't normally require disclosing the specific reason for the loan. This type of loan is used by many to resolve their current financial needs. A personal loan is taken for tenure of one to five years. Also these require lowest formalities and no collateral or security.
It is a type of unsecured loan which can be availed on the basis of various criteria. Level of income, employment history, credit score and scope for repayment are those specific criteria. Considering these criteria and lender, the APR (Annual Percentage Rate) of personal loan can be anywhere between 11.29% to 35%.
In every individual's life there comes a moment where you urgently need a specific amount of money which can't be covered by your savings. The amount can be needed for any personal reason like home or vehicle repair, to pay unexpected medical bills, for wedding, travel, credit card outstanding balance transfer etc. Here the option of getting this desired amount via personal loan comes extremely handy. ICICI offers you personal loan with easy EMI option, fixed interest rate and quick approval. They offer loan for your various personal needs. Flexible tenure, no collateral and simple documentation makes it one of the most popular personal loans in India.
Ruloans is India's fastest growing financial distributors. A comprised team with mammoth experience in finance and internally developed highly proficient Loan Calculator algorithm, we are pledged to offer solutions to all your financial needs. Borrowers can apply for ICICI's personal loans with Ruloans' latest online application process. We help you borrow right.
We have developed an efficient, smooth and easy process for our consumers to get an ICICI personal loan. Our easy to use online procedure allows consumers to upload documents quickly. Our highly proficient Loan Calculator also guides the consumers to embark on a hassle free process.
We value our consumers and are always on our toes to give them benefits of our expertise. Applying for an ICICI personal loan with us, gives you a chance to avail the best offers and deals from ICICI.
We, at Ruloans understand the value of your documents and keeping them safe and private. Your loan applications are processed electronically with complete privacy and transparency.
Our financial experts are always ready to give you the perfect advice. These highly trained professionals in finance know the back and forth of the industry. Our dedicated team of experts will help you at any given time, without charging a dime.
There are many reasons behind the popularity of taking personal loan from ICICI. Go for personal loans by choosing any one or all from below
ICICI offers personal loans to customers who fulfill their designed eligibility. The eligibility criteria changes as per the profile of the borrower. But there are some commonalities which you have to follow or acquire to get an ICICI personal loan. ICICI gives personal loans by dividing their customer's profession and their income history. You can refer the following table for a gross understanding of ICICI's eligibility criteria:
Minimum Loan Amount Approved
Maximum Loan Amount Approved
21 years to 60 years
Rs. 15,000 (Rs. 20,000 in metros)
23 years to 60 years
Turnover of minimum Rs. 24,00,000 (differs for professional and non-professional)
Rs. 75,000 to Rs. 3,00,000
Rs. 15,00,000 to 20,00,000
Passport, Driving License, Voters ID or PAN Card
Passport or utility bills
Salary slips for last 3 months,2 year employment continuity document
Passport, Driving License, Voters ID or PAN Card
Last 6 months
Proof of highest professional degree,Latest Income Tax Return Balance sheet,Profit and Loss for last 3 years certified by CA
ICICI personal loans are easy to pay back. Depending on eligibility criteria, the borrowed sum, payback tenure, the interest rate varies on personal loan. ICICI offers 11.59% to 22% interest rate for salaried applicants and self-employed applicants.
ICICI offers their customers to use ultra modern facility of EMI calculator. The calculator comes with two scales: loan amount and tenure. Here borrowers can choose their desired loan amount and tenure to pay it off. The calculator tells you the interest rate, processing fee and can help you to choose most suitable loan option as per your budget.
You can pay off the loan in tenure of 1 to 5 years.
The payment of decided EMI is done through auto debit or ECS facility offered by ICICI.
Applying for an ICICI personal loan on Ruloans involves few easy steps:
Step 1: Go to the 'ICICI Personal Loans' page on our website and click on 'Apply Now' box
Step 2: Fill out the initial personal and financial information. Once completed, our loan calculator checks your eligibility with its highly efficient algorithm.
Step 3: Our loan calculator presents you a list of required document along with interest rates.
Step 4: You can start filling up the form and upload the required documents. Here, if needed, you can call or mail our experts for advice. The contact details are given on our website.
Step 5: Your application will be sent electronically to ICICI. You will be informed about the status of your application via SMS, email or you can track it via website too.
Yes, ICICI does charge a processing fee of 2.25% + tax on the loan amount.
Yes, you can club your spouse's income in order to boost your eligibility to get a ICICI personal loan.
Yes, you can track your application via SMS and email. We also provide the facility to track your application on our website via login menu.
For your loan-related queries, you can call our representative on 1800 2667576 or mail us at firstname.lastname@example.org