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2 mins Read | 1 Year Ago

Advantages of ICICI Bank Personal Loan over traditional Personal Loan

personal loan over traditional personal loan


What would you do if you were caught in a financial emergency and didn’t have enough savings? In such circumstances, applying for a Personal Loan would be an ideal choice. Today, you can avail a loan of up to Rs 50 lakh online with no paperwork and at an attractive interest rate from ICICI Bank. Besides, you don’t need to visit the Bank to get access to funds. Let’s explore some of the advantages of getting a Personal Loan from ICICI Bank.

Personal Loan – An apt choice to meet your personal needs 

A Personal Loan is an unsecured loan type that enables you to fulfill various personal financial obligations.

Advantages of an ICICI Bank Personal Loan 

  • Digital Application:

Unlike other co-operative or scheduled banks where you need to visit the bank for a loan application, ICICI Bank lets you avail Personal Loans online .

  • Easy to Meet Eligibility Criteria:

When it comes to Personal Loan eligibility, any Resident Indian who is salaried with a minimum monthly income of Rs 30,000 can apply for a loan with ICICI Bank. Self-employed professionals having a turnover of Rs 15 lakh are also eligible for Personal Loans.

  • Multi-Purpose Loan: 

Get a multi-purpose Personal Loan from ICICI Bank. You can use the loan amount for home renovation, vacations, weddings, educational courses, appliances, gadgets and medical emergencies etc. 

  • No Security/Collateral required: 

You do not need to provide any security or pledge any collateral.

  • Quick Disbursement:

At ICICI Bank, the Personal Loan disbursement is quick. Moreover, if you are associated with the Bank concerning any Bank Account or any other product, you can be eligible for a pre-approved offer. With a pre-approved loan offer, the loan amount gets disbursed in just 3 seconds*.

  • Negligible Documentation:

If you apply for a Personal Loan for the first time, all you require is a PAN Card, Aadhaar Card and Income documents. Furthermore, if you have a pre-approved loan offer, you don’t need to provide any documents.

Non-existing customers who wish to apply for a Personal Loan can do it through the UCJ (Unified Customer Journey) platform. Their KYC will be completed virtually and their salary details shared through an Account Aggregator or Salary Account login under the UCJ platform.

  • Flexible Tenure Options:

Enjoy the flexibility to select a suitable Personal Loan tenure. You can opt for a minimum of 12 months up to a maximum of 72 months. 

  • Attractive Interest Rates:

One of the biggest parameters while selecting a Personal Loan is the interest rate. ICICI Bank offers the loan at attractive interest rates, which remains constant throughout the tenure.


Are you in need of urgent funds? Instead of borrowing money from your friends or relatives, applying for a Personal Loan with ICICI Bank is the best way to secure instant funds into your Savings Account. 

*The loan amount will be credited upon completion of the online application.



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