ICICI Personal Loan of 7 Lakh

ICICI Bank offers personal loans of up to 7 lakh rupees. This loan can be used for a myriad of purposes, such as weddings, home renovation, education fees, or medical emergencies. The loan amount can be repaid in flexible EMIs, ranging from 12 to 60 months. ICICI Bank provides competitive interest rates and a hassle-free application process, making it convenient for individuals to use this personal loan. With minimal documentation and quick approval, ICICI Bank’s 7 lakh personal loan can help individuals meet their financial needs efficiently.    

7 Lakh ICICI Personal Loan – Highlights 

Interest Rate	From 10.50 % (p.a) onwards
Loan Tenure	Ranging between 12 to 84 months
Type of Interest Rate	Fixed Interest rate
Collateral Requirement	-NIL-

7 Lakh ICICI Personal Loan EMI for 10 Years 

The table below represents a 7 Lakh ICICI Personal Loan EMI schedule for 10 years. 

Loan Tenure	Loan Amount	Interest Rate (p.a)	EMI
1 Year	10 Lakh	10.50 %	44,133
2 Year	10 Lakh	10.50 %	23,246
3 Year	10 Lakh	10.50 %	16,310
4 Year	10 Lakh	10.50 %	12,862
5 Year	10 Lakh	10.50 %	10,809
6 Year	10 Lakh	10.50 %	9,453
7 Year	10 Lakh	10.50 %	8,496
8 Year
9 Year
10 Year

Comparing ICICI 7 Lakh Personal Loan with Other Banks

Here’s a quick comparison of ICICI Bank’s personal loan of 7 lakh amount with other banks and NBFCs.

Bank Name	Maximum Loan Tenure	Interest Rate (p.a)
ICICI Bank	5 Years	11.25%
Axis Bank	5 Years	9.50%
Syndicate Bank	5 Years	10.1%
IDBI Bank	5 Years	9.95%
Navi	4 Years	9.90 – 45 %
Moneyview	5 Years	15.96

7 Lakh ICICI Bank Personal Loan – Fees and Charges 

The following fees apply to an instant 7 lakh loan from ICICI Bank.

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 and others 

7 Lakh ICICI Bank Personal Loan – Documents Required 

The complete list of 7 lakh personal loan documents for ICICI Bank is given below:

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

7 Lakh ICICI Bank Personal Loan – Eligibility Criteria

The 7 lakh personal loan eligibility for ICICI Bank is as follows:

• Eligible Borrowers: Self-employed/ Salaried
• Age: 20-65 years
• Minimum Income/ Turnover: ₹30,000 per month/ ₹15-40 lakhs per annum 
• Work Experience: 2 years in current job/five years in existing business
• Number of years at current residence: 1 year
• High credit ratings