ICICI Personal Loan of 3 Lakh

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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.

ICICI Bank, one of India’s largest private sector banks, offers a personal loan product designed to meet various financial needs. These personal loans are unsecured, meaning they do not require any collateral security. Depending on your eligibility, you can apply for an ICICI Bank Personal Loan online for amounts up to Rs. 50 lakh.

ICICI Bank personal loans can cater to various financial requirements, such as travel, home renovation, enrolling in online courses, medical emergencies, or wedding expenses. Additionally, these loans can be used for debt consolidation, home improvements or renovations, financing repairs, and managing emergencies, helping you plan for both expected and unexpected financial situations. ICICI Bank offers instant approval on personal loans with attractive interest rates.

3 Lakh Personal Loan ICICI Bank – Highlights

Here are the basic highlights of getting an ICICI Bank 3 lakh personal loan.

Maximum Loan Amount	50 lakh
Maximum Loan Tenure	84 months
Interest Rate	10.50%-16.00%

ICICI Bank 3 Lakh Personal Loan EMI for 1 Year

Loan Amount	3 Lakh
Rate of Interest (p.a.)	11.25%
Loan Tenure	1 Year
EMI	Rs. 26,549

ICICI Bank 3 Lakh Personal Loan EMI for 2 Year

Loan Amount	3 Lakh
Rate of Interest (p.a.)	11.25%
Loan Tenure	2 Year
EMI	Rs. 14,017

ICICI Bank 3 Lakh Personal Loan EMI for 3 Year

Loan Amount	3 Lakh
Rate of Interest (p.a.)	11.25%
Loan Tenure	3 Year
EMI	Rs. 9,857

ICICI Bank 3 Lakh Personal Loan EMI for 4 Year

Loan Amount	3 Lakh
Rate of Interest (p.a.)	11.25%
Loan Tenure	4 Year
EMI	Rs. 7,790

ICICI Bank 3 Lakh Personal Loan EMI for 5 Year

Loan Amount	3 Lakh
Rate of Interest (p.a.)	11.25%
Loan Tenure	5 Year
EMI	Rs. 6,560

ICICI Bank 3 Lakh Personal Loan EMI for 7 Year

Loan Amount	3 Lakh
Rate of Interest (p.a.)	11.25%
Loan Tenure	7 Year
EMI	Rs.5,176

Comparing ICICI Bank 3 Lakh Personal Loan with Other Banks & NBFCs.

Repayment Tenure	12-60 months	12-72 months	12-60 months	12-60 months	12-60 months
Rate of Interest	11.25% onwards	10. 50 % onwards	10.75% onwards	12% onwards	11.60 % onwards
Processing charges	Up to 2.25% of the loan amount plus GST	Up to 1% of the loan amount plus GST	Up to Rs. 2.50% of the loan amount	Up to 2% of the loan amount + GST	Up to 2% of the loan amount
Pre-payment charges	5% of the loan amount + GST	Up to 3% of the outstanding amount	Between 2% to 4% of the outstanding amount	NA	NA
Balance transfer and top-up	Yes	No	Yes	Yes	No
Eligibility	Salaried only	Salaried Only	Salaried Only	Salaried Only	Salaried plus self-employed

ICICI Bank 3 Lakh Personal Loan – Fees and Charges

As a customer, you must pay the following fees and charges to get an instant 3 lakh ICICI Personal Loan.

Processing Fee: Upto 2.50% of the loan amount plus GST
Goods and Services Tax: 18% GST on all bank services
Other Charges: Loan cancellation charges, prepayment charges and others

ICICI Bank Personal Loan 3 Lakh- Documents Required

Here is a quick snapshot of the documents required for a 3 lakh ICICI Personal Loan.

Loan Application Form (2 attested passport-size photographs)
KYC Documents: Aadhar Card, Driver’s Licence, Passport, Voter’s ID, previous 3 months’ utility bills
Income Proofs: Last 3 months’ salary statements/ Last 3 months’ bank statements/ Balance sheet and P&L account

ICICI Bank Personal Loan 3 Lakh – Eligibility Criteria

Here is the eligibility criteria for getting a 3 lakh ICICI Bank Personal Loan.

Borrowing Eligibility: Self-Employed/ Salaried
Age: 20-65 years
Minimum Income/ Turnover: ₹30,000 per month/ ₹15-40 lakhs per annum
Work Experience Required to apply for ICICI Bank personal loan: 2 years in current job/ 5 years in current business
Number of years at current residence: 1 year
Healthy credit score

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Frequently Asked Question (FAQs)

What is the ICICI Bank monthly interest on a 3 lakh personal loan?

The interest rate on ICICI Bank 3 lakh personal loan is 11.25%.

Can I get a 3 lakh personal loan from ICICI Bank?

Yes, depending on your eligibility, you can easily get a 3 lakh personal loan from ICICI Bank.

How to get a 3 lakh loan without a salary slip in ICICI Bank?

In such a case, you can apply for an ICICI Bank personal loan with a co-applicant.

What is the cibil score for a 3 lakh personal loan for ICICI Bank?

One should have a healthy CIBIL score (between 750-900) to apply for 3 lakh personal loan from ICICI Bank.