ICICI Personal Loan of 4 Lakh

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. 

1. Processing Fee: Upto 2.50% of the loan amount plus GST
2. Goods and Services Tax: 18% GST on all bank services
3. 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