ICICI Personal Loan of 1 Lakh

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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.

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Amit Prakash Singh

Co-Founder, Square Yards & Chief Business Officer, Urban Money

Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

The ICICI Bank personal loan of 1 lakh is among the most reliable and sought-after personal loans in India. While it offers ready financial assistance, borrowers can repay the loan in easy Equated Monthly Installments (EMIs).

A personal loan of 1 lakh’s EMIs has an inverse relationship with loan tenure. The higher the tenure, the smaller the monthly repayments. Coupled with interest rates, the two factors strongly influence loan EMIs. Stay tuned to find the monthly EMIs applicable on the loan for up to 7 years.

ICICI Bank 1 Lakh Personal Loan – Highlights

Before moving on to the ICICI Bank’s personal loan 1 lakh EMI, here is a quick overview of the loan.

Loan Amount	1 lakh
Maximum Loan Tenure	Up to 7 years
Rate of Interest (p.a.)	10.50%-16.00% p.a.
Type of Interest Rate	Fixed Interest Rate
Collateral Requirement	NIL

1 Lakh Personal Loan EMI for Up to 7 Years

Let’s consider the lowest 1 lakh loan interest rate the bank offers on its personal loans, i.e. 10.50% p.a. Here is an overview of the payable EMIs on the loan for up to 7 years.

Loan Tenure	Loan Amount	Interest Rate (p.a.)	EMI
1 Year	1 lakh	10.50%	₹8,815
2 Years	1 lakh	10.50%	₹4,638
3 Years	1 lakh	10.50%	₹3.250
4 Years	1 lakh	10.50%	₹2,560
5 Years	1 lakh	10.50%	₹2,149
6 Years	1 lakh	10.50%	₹1,878
7 Years	1 lakh	10.50%	₹1,686

Comparing ICICI Bank 1 Lakh Personal Loan

Find out how the ICICI Bank personal loan of 1 lakh compares with other banks and Non-banking Financial Companies (NBFCs.)

Bank Name	Interest Rate (p.a.)	Maximum Loan Tenure
Bank of India	10.25% onwards	7 years
Axis Bank	10.49% onwards	7 years
State Bank of India	10.55% onwards	6 years
L&T Finance	12% onwards	4 years
KreditBee	16% onwards	2 years

ICICI Bank 1 Lakh Personal Loan – Fees and Charges

The following charges apply to an ICICI Bank personal loan of 1 lakh.

A processing fee of 2.50% of the loan amount plus GST
An 18% Goods and Services Tax (GST) on all bank service
Other charges like loan cancellation charges and prepayment charges may also be applicable.

1 Lakh ICICI Bank Personal Loan – Documents Required

The complete list of 1 lakh personal loan documents of ICICI Bank is given below.

Loan application form with 2 passport-size photographs
Identity Proof: Aadhar Card/ Voter’s ID/ Driver’s License/ PAN Card
Proof of Residence: 3 months utility bills/ Passport/ Leave and License Agreement
Income Proof: Bank Statements of the last 3 months/ 3 months’ salary slips/ Balance Sheet and P&L account.

1 Lakh ICICI Bank Personal Loan – Eligibility Criteria

The 1 lakh personal loan eligibility for ICICI Bank is as follows:

Eligible Candidates: Salaried/ Self-employed
Age: 20-65 years
Minimum Income/ Turnover: ₹30,000 per month/ ₹15-40 lakhs per annum
Work Experience: 2 years in current job/ 5 years in current business
Number of years in current residence: 1 year
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