ICICI Bank has a wide range of loans, including a personal loan that you can get to meet your various needs. Here, customers can borrow a lump sum of money without pledging their assets. It is a collateral-free loan and will be the best for your travels. How to check the best personal loan? If you want to know whether ICICI Bank offers you the best loan, compare its offer with that of others where you can get a personal loan. To find out more on ICICI Personal Loan, keep reading this page further.
ICICI Bank Offer on Personal Loan
The bank provides the following benefits to the borrower –
Lowest Interest Rate
Well, the best personal loan allows you to borrow money at an attractive rate. ICICI Bank offers the lowest rate among private lenders. The starting rate is 10.25% per annum, and you’ll be eligible for the same if you have repaid your debts responsibly. The maximum ICICI Personal Loan Interest Rate is 19.00% per annum which is not that much when compared to the other loans.
High Loan Amount
The bank offers a maximum personal loan of INR 50 Lakh. And your loan limit will be based on your income. So, if you can repay the EMI likely on a loan amount of INR 50 Lakh, the same will be provided to you.
Unlike other lenders, ICICI Bank provides you a tenure of up to six years for loan repayments. As you know a longer tenure can lessen the EMI amount and fit into your budget.
Is ICICI Personal Loan the Best?
Travelling is expensive and one can’t afford the same if their income is modest. There are daily financial needs that they can’t avoid at the expense of travelling. So, here comes the personal loan that solves this problem for you. But with more than a handful of personal loan lenders, it could become tough to choose the best one. As we have learned about the ICICI personal loan offer above, compare the same with other loan offers. See how meaty the ICICI Personal Loan offer is compared to others. The comparison will most likely help you choose the best personal loan.
Tools for Best Personal Loan Comparison
You can compare the loans using the EMI calculator. This tool generates the approximate EMI amount of your loan amount. All you have to do is insert the loan amount, interest rate and tenure and the EMI will be in front of you.
ICICI Personal Loan Calculator is available on the bank’s website. Here’s how you can navigate to the calculator –
- Visit the official website of the bank
- Go to ‘Loan’ section
- Select ‘EMI Calculator’
- Slide the bar to enter your loan details
- Now, the EMI and total interest are displayed in the screen
You can also see a graphical representation of your repayment that will help you understand the payout pattern during the tenure of your loan.
So, insert the ICICI Bank offer and later the other lenders’ offers and compare which one gives you the lowest interest and EMI.
Apply for ICICI Personal Loan for a Hassle-Free Travel
Lock the date of your vacation and apply for ICICI Personal Loan. Also check for interest rate on the bank site to get the best ICICI Personal loan interest rate. For this, you don’t need to visit any bank branch. You can apply for the loan from home by following the steps shown below –
- Visit the ICICI Bank’s official website
- Click on ‘Loans’
- Select ‘Personal Loans’
- Click on the ‘Apply Online’ button
- Enter your name, mobile, email, etc.
- Click on the ‘submit’ button
- Enter your PAN and Aadhaar details
- Upload a few KYC and income documents
- Upon successful submission, you’ll receive an email or SMS
The bank will convey its decision regarding your loan shortly. Upon loan disbursal, book flight tickets, hotels, pack your suitcases and enjoy your vacation.