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Personal Loan · Bank review

ICICI Bank Personal Loan

ICICI Bank runs one of the most digital personal-loan journeys among Indian banks: pre-approved customers can take a loan in minutes through internet banking or the iMobile app, and new customers can apply online. Its foreclosure terms are among the more borrower-friendly for a fixed-rate loan. Below are ICICI's published terms, a worked cost example and how its prepayment rules play out.

By FinancePaisa Editorial Team · Research & editorialUpdated · 4 min read

Rates checked against the lenders' official pages on 28 September 2026. Your actual rate depends on your profile; confirm with the lender before you apply.

Official rate pages: ICICI Bank

Interest rate
9.99% p.a.
Loan amount
₹50,000 to ₹50 lakh
Tenure
12 to 72 months

How it compares: a starting rate of 9.99% is 0.01 percentage points below the median of 10.00% across the 6 lenders we track for this product. Starting rates go to the strongest applicants; compare the rate you are actually quoted.

On this page (9 sections)

Key terms

  • Interest rate

    ICICI Bank
    From 9.99% p.a.

  • Loan amount

    ICICI Bank
    ₹50,000 to ₹50 lakh

  • Tenure

    ICICI Bank
    12 to 72 months

  • Foreclosure charge

    ICICI Bank
    3% of principal outstanding before 12 EMIs; nil after 12 EMIs

  • Part-prepayment charge

    ICICI Bank
    3% + GST up to 24 months of loan age; nil after 24 months

  • Part-prepayment size (loans from 1 Jan 2026)

    ICICI Bank
    At least one EMI; at most the outstanding minus one EMI

  • Processing fee

    ICICI Bank
    As per ICICI's schedule; shown in your Key Facts Statement

Worked example: what a ₹5 lakh loan costs

Take ₹5 lakh over 60 months. At the starting rate of 9.99%, the EMI is ₹10,621 and the total interest ₹1,37,264. At 13.99%, a rate many applicants with average scores are offered, the EMI is ₹11,632 and the interest ₹1,97,892. Add the processing fee and GST from your Key Facts Statement to get the full cost, and compare offers on the APR it shows.

Why ICICI's foreclosure terms matter

ICICI's charge disappears after 12 EMIs. On the ₹5 lakh loan above, closing after 6 EMIs leaves about ₹4,60,433 outstanding; the 3% charge plus GST is about ₹16,299, against ₹1,13,104 of interest saved. Wait until 12 EMIs are paid and you can close the remaining ₹4,18,848 with no charge at all, saving ₹90,963 of future interest. That makes ICICI a reasonable choice if you expect a bonus or other lump sum in a year or two and plan to close the loan with it. Many lenders charge 2-4% for much longer.

How ICICI compares with other banks we track

Starting rates and fees from each bank's own website. Compare the APR in each Key Facts Statement for your actual offer.

  • HDFC Bank

    Starting rate
    9.99%
    Processing fee
    Up to ₹6,500 + GST
    Rate checked
    11 Oct 2026

  • SBI (Xpress Credit)

    Starting rate
    10.00%
    Processing fee
    Up to 1.5% (₹1,000 to ₹15,000) + GST
    Rate checked
    28 Sept 2026

  • ICICI Bank

    Starting rate
    9.99%
    Processing fee
    —
    Rate checked
    28 Sept 2026

  • Axis Bank

    Starting rate
    9.99%
    Processing fee
    1.5% to 2% + GST
    Rate checked
    28 Sept 2026

  • Kotak Mahindra

    Starting rate
    10.99%
    Processing fee
    —
    Rate checked
    28 Sept 2026

  • IndusInd Bank

    Starting rate
    10.49%
    Processing fee
    3.5% (1.5% to 2% during offers)
    Rate checked
    28 Sept 2026

Who an ICICI personal loan suits

  • ICICI savings or salary-account customers with a pre-approved offer, who can take the loan online in minutes.
  • Borrowers who may close the loan early: the foreclosure charge is nil after 12 EMIs.
  • Applicants who want a small loan: the minimum is ₹50,000.

Watch out for

  • Closing in the first year costs 3% of the outstanding; if a lump sum is coming soon after you borrow, consider waiting until 12 EMIs are paid.
  • Part-prepayments in the first 24 months carry a 3% charge plus GST.
  • Check the processing fee and any insurance add-on in the Key Facts Statement before accepting a pre-approved offer, since the in-app flow is quick.

How to apply

Existing customers can see pre-approved offers in ICICI's internet banking or the iMobile app and complete the loan with an OTP. New customers apply on ICICI Bank's website, upload KYC and income proof, and receive an in-principle decision online, followed by verification before disbursal.

Frequently asked questions

Does ICICI Bank allow part-payment of a personal loan?

Yes. Part-prepayment costs 3% plus GST in the first 24 months of the loan and is free after that. For loans from 1 January 2026, each part-prepayment must be at least one EMI.

When can I foreclose an ICICI personal loan for free?

After you have paid 12 EMIs. Before that the charge is 3% of the principal outstanding, plus GST.

What is the maximum ICICI personal loan amount?

Up to ₹50 lakh, for applicants whose income and credit profile support it. Most applicants are offered less, based on FOIR.

Is the rate fixed?

Personal loans at ICICI are fixed-rate: the EMI stays the same for the tenure. Confirm the rate type in your Key Facts Statement.

Sources & references

Rates, fees, eligibility, and product terms cited on this page reflect the sources above at the time of publication and may have changed since. Always verify directly with the lender or regulator.

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