ICICI Personal Loan of 5000

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Written By

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.

ICICI Bank is one of the leading banks that offers a wide range of services and banking products to its customers. ICICI Bank understands that financial support is very critical to turning your dreams into reality. That’s where ICICI Bank personal loans come into the picture. ICICI Bank personal loans come with a range of features to make your borrowing experience convenient and affordable. For instance, you can choose a flexible loan amount, benefit from competitive interest rates, and enjoy quick approval and disbursal of funds. The repayment options are designed to be convenient, allowing you to select a tenure that suits your financial capabilities. Let’s discuss about instant 5,000 ICICI Bank Personal Loan.

5,000 Personal Loan ICICI Bank – Highlights

Here is a quick snapshot of the highlights for ICICI Bank personal loan 5,000.

Features	Highlights
ICICI Bank Loan Amount	Up to Rs. 50 lakhs
Approval & Disbursal	Instant, within 3 seconds
Interest Rate	10.50% -16.00% per annum
Repayment Tenure	12 to 84 months
Prepayment Charges	None
Eligibility	Candidate must be 20+, salaried, good credit
Documentation	Minimal: ID, salary, bank statement
Customer Care	1800 200 3344

5,000 Personal Loan EMI for 1- 5 & 7 Years

Here is a snapshot of 5,000 personal loan EMI for 1 year.

Loan Amount	5,000
Interest Rate	10.50%
Tenure	12 months
EMI	INR 441

Take a look at 5,000 personal loan EMI for 2 years.

Loan Amount	5,000
Interest Rate	10.50%
Tenure	24 months
EMI	INR 232

Here is the snapshot of 5,000 personal loan EMI for 3 years.

Loan Amount	5,000
Interest Rate	10.50%
Tenure	36 months
EMI	INR 163

Here is the snapshot of 5,000 personal loan EMI for 4 years.

Loan Amount	5,000
Interest Rate	10.50%
Tenure	48 months
EMI	INR 128

Here is the snapshot of 5,000 personal loan EMI for 5 years.

Loan Amount	5,000
Interest Rate	10.50%
Tenure	60 months
EMI	INR 107

Here is the snapshot of 5,000 personal loan EMI for 7 years.

Loan Amount	5,000
Interest Rate	10.50%
Tenure	84 months
EMI	INR 84

Compare 5,000 Personal Loan ICICI Bank with Other Banks & NBFCs.

The following table compares ICICI Bank personal loans with those of other banks:

Parameters	ICICI	SBI	HDFC Bank	Axis Bank	Bank of Baroda
Quantum of Loan	Up to Rs. 20 Lakhs	Up to Rs. 20 Lakhs	Up to Rs. 40 Lakhs	Up to Rs. 15 Lakhs	Up to Rs. 10 Lakhs
Rate of Interest	10.50% onwards	11. 00 % onwards	10.50% onwards	10.49% onwards	10.10 % onwards
Processing fees	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 (Min Rs. 2,999/- and maximum Rs. 25,000 plus GST	Up to 2% of the loan amount plus GST	Up to 2% of the loan amount Min. Rs. 1,000 and Max. Rs. 10,000 plus GST
Pre-payment charges	5% of the loan amount plus GST	Up to 3% of the outstanding principal amount	Between 2% to 4% of the outstanding amount	Nil	Nil
Balance transfer and top-up	Yes	No	Yes	Yes	No
Eligibility	Salaried only	Salaried Only	Salaried Only	Salaried Only	Salaried plus self-employed

5,000 ICICI Personal Loan – Fees and Charges

Following are the fees and charges that an individual needs to pay.

Fee/Charge	Amount
Interest Rate	10.50% to 16.00% per annum
Processing Fee	Up to 2.50% of the loan amount + applicable taxes
Prepayment Charges	3% of principal outstanding
Additional Interest on Late Payment	24% per annum
Repayment Mode Swap Charges	Rs. 500 per transaction + applicable taxes
Loan Cancellation Charges	Rs. 3000 + applicable taxes
EMI Bounce Charges	Rs. 500 per bounce + applicable taxes
Non-Maintenance of Mode of Payment	Rs. 800 per month + applicable taxes

5,000 Personal Loan Documents Required – ICICI Bank

Documents required for the ICICI Bank 5,000 personal loan include the latest salary slips, bank statements, and government-approved ID proofs.

5,000 Personal Loan Eligibility ICICI Bank

Following is the basic eligibility criteria for 5,000 ICICI Bank Personal Loan.

The individual should have a regular source of income, like a job or a business.
He or she should be a resident of India
He or she should have a healthy credit score.

Frequently Asked Question (FAQs)

What is the ICICI Bank monthly interest on a 5,000 personal loan?

The interest rate for an ICICI Bank 5,000 personal loan starts at 10.50%.

Can I get a 5,000 personal loan from ICICI Bank?

Yes, if you meet the basic eligibility criteria, then you are fit to get a 5,000 personal loan from ICICI Bank.

How do I get a 5,000 loan without a salary slip from ICICI Bank?

You will need to get in touch with the bank’s staff to collect more details about it.

What is the credit score for 5,000 personal loan with ICICI Bank?

A healthy CIBIL score of above 700 is the minimum required to be able to apply for a personal loan.