What are the important reasons to get ICICI Bank personal loan?

ICICI bank is one of the top banks and most preferred lenders for personal loans in India. Borrowers can get personal loans at affordable interest rates for their personal financial needs such as a wedding, home repair, child’s education, holiday and a lot more. You can get personal loans up to Rs. 20 lakh to be paid in 60 months from ICICI bank. You can use ICICI personal loan EMI calculator to know the EMI you would be paying for a chosen period.

Here are the major reasons you can get a personal loan for:

ICICI Bank Wedding Loan

Wedding is a once in a lifetime opportunity and we want to make it special. However, you may need additional funds for booking a swanky wedding hall, purchase of expensive catering and precious jewellery, or. You can fulfil all your wedding goals with the financial help form the ICICI Bank.

ICICI personal loan for a wedding under the umbrella of a personal loan can be used to cover all your wedding-related expenses. Borrowers can enjoy the following benefits by getting ICICI personal loan:

• Interest rate starting from as low as 11.25% p.a.

• Instant approval

• Minimal documentation

• Loan amount up to Rs. 20 lakhs

• No security or collateral required

• Cash in your account within a couple of hours of approval

ICICI personal loan for home renovation

A home is where we live and we all have a dream of making our home lovely and live. However, if you have not budgeted in advance for home repair, it can be a bit challenging task including hassle and time consumption. Home renovation requires a lot of money for the contractor, interior designer, raw material, labours etc.

But ICICI personal loan for the home renovation can help you achieve your dream of renewing your home into a lovely home. Eligible ICICI bank personal loans can be availed at a competitive interest rate starting from 11.25% with minimal documentation.

ICICI Bank Travel Loan

Today’s life is very hectic and a break from a stressful life is essential. Nothing gives better recreational energy than going on a dream vacation. Sometimes our savings may be insufficient to meet travelling expenses with family or friends. As there is no restriction on ICICI Bank personal loan, you can use it the way you want. You can get ICICI personal loan for a recreational vacation.

ICICI Bank Fresher Funding

Facing financial problems, but not able to get a loan because you have started working recently? Then ICICI personal loan Fresher Funding is the right option for you to fulfil your financing needs. ICICI Bank offers Fresher Funding for young professionals.

You can enjoy the following benefits of ICICI Bank fresher funding:

• Hassle-free application and approval

• Personal loan up to Rs. 1,50,000

• Funding for young millennials

• No security or collateral required

ICICI Top Up Personal Loan

Are you an ICICI Bank personal loan holder and need additional financial help? Well, if you need extra money on top of your existing loan from the ICICI Bank. It may interest you to know that ICICI bank is offering top up on a personal loan. If you have a personal loan and you have been repaying the loan punctually, you can apply for ICICI top-up personal loan to cover your existing loan and other financial requirements. In this case, you will have a consolidated EMI including the repayment on your existing loan plus the loan you are applying for. But, if you avail a top-up personal loan for new financial needs, you will be paying separate EMIs for both loans.

Benefits of ICICI top-up loan

• Simplified documentation

• Interest rate as low as 11.25% p.a.

• EMI options

ICICI personal loan EMI calculator

When you apply for a personal loan for any of the above reasons, you can use ICICI personal loan EMI calculator to find out how much instalment you would be paying per month for different chosen tenures. Accordingly, choose the repayment period which fits into your monthly budget.

Documents required to get ICICI Bank personal loan

When applying for a personal loan, you will need to submit the following documents:

• Proof of identity: Aadhaar Card/ Passport / Driving License / PAN Card

• Residential proof: Leave and License Agreement/ Any of utility bills – electricity bill/ water bill/ telephone bill – not more than 3 months old

• Salary slips for last 3 months

• Bank statement showing salary credit for the last 3 months

• Filled loan application and passport size photographs

For self-employed individuals

• Identity proof: Aadhaar Card/ Passport / Driving License / PAN Card

• Residential proof: Leave and License Agreement/ Any of utility bills – electricity bill/ water bill/ telephone bill – not more than 3 months old

• Date of birth proof

• Office address proof

• Income proof: Audited financials for the last 2 years

• Bank statement for the last 6 months

• Proof of office ownership

• Proof of continuity of business

Read More: Compare SBI Personal Loan and ICICI Bank Personal Loan for Best Offers

Shruti Keshre is a Digital Marketing Executive at Afinoz Digitalizing Finance.