ICICI Personal Loan of 4 Lakh

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Thejus KS

A mechanical engineer turned history buff with a sprinkle of financial brilliance. Thejus’s expertise comes with a unique blend of engineering precision, timelines, and the power of numerals. He knows that numbers are the pulse of our globe. Attention to detail and extensive research are the key elements of his writing.

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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.

Today, financial needs can arise anytime, and having a reliable solution for them is crucial. ICICI Bank, a trusted name in the Indian banking sector, offers Personal Loans tailored to meet various needs, whether it’s for travel, home renovation, or a wedding. And 4 lakh is a really good amount to address such needs. With the option to borrow up to Rs. 50 Lakhs ICICI Bank ensures minimal documentation for a hassle-free experience.

One of ICICI Bank Personal Loans’ standout features is its flexibility. There are no restrictions on how you use the funds, allowing you to address your specific needs. The process is marked by instant approval, ensuring quick access to funds. The loan terms are flexible, ranging from 12 to 84 months, allowing you to choose a tenure that fits your repayment capacity. Moreover, the interest rates are fixed, and consistent throughout the loan period. Let’s discuss more about 4 lakh ICICI Bank personal loan.

4 Lakh Personal Loan ICICI Bank – Highlights

Here are the basic highlights of getting an ICICI Bank 4 Lakh personal loan.

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

ICICI Bank 4 Lakh Personal Loan EMI for 1 Year

Loan Amount	4 Lakh
Rate of Interest (p.a.)	11.25%
Loan Tenure	1 Year
EMI	Rs.35,399

ICICI Bank 4 Lakh Personal Loan EMI for 2 Year

Loan Amount	4 Lakh
Rate of Interest (p.a.)	11.25%
Loan Tenure	2 Year
EMI	Rs. 18,690

ICICI Bank 4 Lakh Personal Loan EMI for 3 Year

Loan Amount	4 Lakh
Rate of Interest (p.a.)	11.25%
Loan Tenure	3 Year
EMI	Rs.13,143

ICICI Bank 4 Lakh Personal Loan EMI for 4 Year

Loan Amount	4 Lakh
Rate of Interest (p.a.)	11.25%
Loan Tenure	4 Year
EMI	Rs.10,387

ICICI Bank 4 Lakh Personal Loan EMI for 5 Year

Loan Amount	4 Lakh
Rate of Interest (p.a.)	11.25%
Loan Tenure	5 Year
EMI	Rs.8,747

ICICI Bank 4 Lakh Personal Loan EMI for 7 Year

Loan Amount	4 Lakh
Rate of Interest (p.a.)	11.25%
Loan Tenure	7 Year
EMI	Rs.6,902

Comparing ICICI Bank 4 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 4 Lakh Personal Loan – Fees and Charges

As a customer of the ICICI Bank, you must pay the following charges and fees if you want to avail 4 lakh ICICI Personal Loan amount.

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 along with others

ICICI Bank Personal Loan 4 Lakh- Documents Required

Here are all the key documents required for a 4 Lakh ICICI Personal Loan.

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

ICICI Bank Personal Loan 4 Lakh – Eligibility Criteria

Want to apply for a 4 Lakh ICICI Bank Personal Loan, here is the eligibility criteria you need to know.

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

Frequently Asked Question (FAQs)

What is the ICICI Bank monthly interest on a 4 Lakh personal loan?

The interest rate for ICICI Bank personal loan is between 10.50%-16.00%. The interest rates can differ depending on your requirements, the amount of loan applied for, and tenure.

Can I get a 4 Lakh personal loan from ICICI Bank?

Yes, if you pass the eligibility criteria, then you can easily get an instant 4 lakh personal loan from ICICI Bank.

How to get a 4 Lakh loan without a salary slip in ICICI Bank?

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

What is the cibil score for a 4 Lakh personal loan for ICICI Bank?

One should have a healthy CIBIL score (between 750-900) so that your ICICI Bank personal loan can get approved.