ICICI Government Employee Personal loan

The ICICI government employee personal loan is a quick and convenient credit option. Offering competitive interest rates and flexible repayment options makes this multipurpose personal loan more affordable and easy to repay. Eligible applicants can secure a loan of up to ₹50 Lakh without pledging any of their assets as collateral. Borrowers can also benefit from an easy online application process, which ultimately eliminates the need for back-and-forth bank visits and hassleful physical documentation. Moreover, the loan features lower processing fees, moderate eligibility criteria, and minimal documentation, further enhancing the overall appeal of this remarkable personal finance. Let’s scroll down to learn more.

ICICI Personal Loan for Government Employees – Highlights

Here are the key parameters of an ICICI government employee personal loan:

Interest Rates	10.65% p.a. onwards
Processing Fees	Up to 2.50% of the loan amount, plus applicable taxes
Loan Tenure	12 months to 84 months
Eligibility	Both salaried and self-employed individuals

Compare Government Employees Loan From Other Bank 

Here is the comparison of ICICI government staff personal loans with other leading banks and NBFCs in India:

Lender	Interest Rate (p.a.)	Processing Fee	Max. Loan Amount	Max. Loan Tenure
ICICI Bank	10.65% onwards	Up to 2.50% of the loan amount	Rs 50 Lakh	7 years
State Bank of India	10.55% onwards	Up to 0.75% of the loan amount	Rs 35 lakh	6 years
Axis Bank	10.49% onwards	Up to 2% of the loan amount	Rs 40 lakh	7 years
HDFC Bank	10.50% onwards	Upto Rs 4999	Rs 40 lakh	6 years
Union Bank	10.60% onwards	0.50% of the loan amount	Rs 15 lakh	6 years
IDBI Bank	9.50% onwards	1 % of the loan amount	Rs 5 lakh	6 years
Kotak Mahindra Bank	10.99% onwards	Up to 3% of the loan amount	Rs 40 lakh	6 years
Tata Capital	10.99% onwards	3.5% of the loan amount	Rs 35 lakh	6 years

ICICI Personal Loan for Government Employees

Here are the fees of an ICICI state employee personal loan:

Fee/Charge	Amount
Processing Fee	Up to 2.50% of the loan amount + applicable taxes
Prepayment Charges	3% of the principal amount + applicable taxes.
Additional Interest on late payment	24% per annum
Repayment Mode Swap Charges	Rs 500/- per transaction plus applicable taxes
Loan Cancellation Charges	Rs 3000/-plus applicable taxes
EMI Bounce Charges	Rs 500/- per bounce plus applicable taxes
Non Maintenance of Mode of Payment (NMMP Charges)	Rs 800/- (Plus applicable taxes or statutory levies, if any.)

ICICI Personal Loan for Government Employees – Documents Required

Here is the required documentation for an ICICI government employee personal loan:

• Proof of Identity: Aadhaar card, PAN card, passport, voter ID, or driving licence.
• Proof of Address: Utility bills, passport, ration card, or driving licence.
• Proof of Income: Last 3-month salary slip, bank statement, or income tax return.

ICICI Personal Loan for Government Employees – Eligibility Criteria

The ICICI personal loan eligibility for government employees is as follows:

• You must be aged between 20 and 58 years
• You must have a minimum income of Rs.30,000 per month.
• You must have a good credit score and repayment history.
• You must have permanent employment at a Central or State Government organisation.