ICICI Personal Loan of 10 Lakh

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Amrita Sinha

Amrita Sinha comes with a background in journalism and mass communication, drawing from her roots in journalism, she has found her voice in the world of finance. As an accomplished writer, she specialises in Financial Services, Mutual Funds, Loan Assessments, Banking & Loan Products. She has established herself as a reliable expert in the field, offering valuable advice to those looking to navigate the various aspects of personal finance.

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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 ICICI personal loan of 10 lakh rupees is an unsecured loan. I.e., you can obtain the loan amount without securing any of your assets as collateral. The bank instead considers your credit score, income, repayment history, and other parent factors regarding your creditworthiness and repayment capacity. Moreover, the digital application process allows you to apply for a personal loan online without ever leaving your couch. The entire application process takes approximately 10 minutes. Once you have applied for the loan along with the necessary documents, the funds will be deposited into your bank account within 2 days.

To edify more about this borrower-friendly financing option, Urban Money presents a detailed overview of ICICI personal loan of 10 lakh rupees. We cover information such as ICICI 10 lakh loan interest rate, its eligibility criteria, required information, and more.

Rs 10 Lakh Personal Loan ICICI – Highlights

Following are the key parameters of an ICICI personal loan of 10 lakh rupees:

Highlights
Interest Rates	10.50% to 16.00% per annum
Processing Fees	Up to 2.50% of the loan amount plus applicable taxes
Loan Tenure	12 months to 84 months
Eligibility	Both salaried and self-employed individuals

Rs 10 Lakh Personal Loan EMI for 1- 5 & 10 Years

Following is a list of Rs 10 lakh personal loan EMIs for different durations, spanning from 1 year to 7 years.

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Interest Payable	Total Amount Payable
Rs 10 lakh	10.50% p.a.	1 year	Rs 88,149	Rs 57,788	Rs 10,57,788
Rs 10 lakh	10.50% p.a.	2 years	Rs 46,376	Rs 1,13,024	Rs 11,13,024
Rs 10 lakh	10.50% p.a.	3 years	Rs 32,502	Rs 1,70,072	Rs 11,70,072
Rs 10 lakh	10.50% p.a.	4 years	Rs 25,603	Rs 2,28,944	Rs 12,28,944
Rs 10 lakh	10.50% p.a.	5 years	Rs 21,494	Rs 2,89,640	Rs 12,89,640
Rs 10 lakh	10.50% p.a.	6 years	Rs 18,779	Rs 3,52,086	Rs 13,52,086
Rs 10 lakh	10.50% p.a.	7 years	Rs 16,861	Rs 4,16,297	Rs 14,16,297

Compare Rs 10 Lakh Personal Loans From Other Banks & NBFC.

Here’s a comparison of an ICICI personal loan of 10 lakh rupees with other major banks and NBFCs in India. We primarily analyze factors such as the bank’s 10 Lakh loan interest rate, processing fees, and loan tenure. Let’s scroll down:

Lender	Interest Rate (p.a.)	Processing Fee	Tenure
ICICI Bank	10.50% onwards	Up to 2.50% of the loan amount	1 to 6 years
HDFC Bank	10.50% onwards	Up to Rs 4999	1 to 5 years
Axis Bank	10.49% onwards	Up to 2% of the loan amount	1 to 5 years
Kotak Mahindra Bank	10.99% onwards	Up to 3% of the loan amount	1 to 5 years
IndusInd Bank	10.49% onwards	Up to 2.5% of the loan amount	1 to 5 years
IDFC First Bank	10.49% onwards	Up to 3.49% of the loan amount	1 to 5 years
Bajaj Finserv	11.00% onwards	Up to 3.93% of the loan amount	1 to 8 years
Federal Bank	10.49% onwards	Up to 3% of the loan amount	1 to 5 years
State Bank of India	11.05% onwards	1% of the loan amount	1 to 6 years
Punjab National Bank	11.75% onwards	1% of the loan amount	1 to 6 years

Rs 10 Lakh ICICI Home Loan – Fees and Charges

Following are the fees and charges of an ICICI personal loan of 10 lakh rupees:

Fee/Charge	Amount
Processing Fee	Up to 2.50% of the loan amount plus applicable taxes
Prepayment Charges	For salaried customers, 3% plus applicable taxes on the remaining principal amount after the 1st EMI, waived if 12 or more EMIs are paid. MSE classified customers face no charges after the 1st EMI for loans up to 50 lakhs.
Additional Interest on late payment	24% per annum
Repayment Mode Swap Charges	Rs 500/- per transaction plus applicable taxes
Loan Cancellation Charges	Rs 3000/-plus applicable taxes
EMI Bounce Charges	Rs 500/- per bounce plus applicable taxes
Non Maintenance of Mode of Payment (NMMP Charges)	Rs 800/- (Plus applicable taxes or statutory levies, if any.)

Rs 10 Lakh ICICI Home Loan – Documents Required

The documents required for the ICICI personal loan of 10 Lakh rupees are as follows:

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

Proof of Address: Recent copy of Utility Bills, Passport, Driving License or Aadhaar Card.

Proof of Income: Latest 3 months Bank Statement (where salary/income is credited)

Proof of Employee: Salary slips for the last 3 months.

Rs 10 Lakh ICICI Home Loan – Eligibility Criteria

Following are the Rs 10 lakh personal loan eligibility in ICICI Bank:

You must be aged between 20 and 58 years
You must have a minimum income of Rs.30,000 per month.
You must have at least 2 years of work experience.
You must have lived in your current residence for at least 1 year.
You must have a good credit score and repayment history.