iMobile by ICICI Bank

Type of Credit Facility

Details

Personal Loan interest rates

10.85% to 16.65% per annum

Prepayment charges

a. 3% on principal outstanding amount.

b. Nil after 12 EMIs paid.

c. For Business Loans (BIL/BL) <=50 Lakhs i.e. Booked under code ‘UP’, the FC to be considered as “NIL” if first EMI is paid. This is applicable only for Micro and Small enterprises only (subject to URC submission) and not for Medium enterprises.

Additional interest on late payment

5% Per Annum will be charged on the overdue EMI until repayment.

Repayment mode swap charges

₹ 500 per transaction plus applicable taxes

Loan cancellation charges

a. NIL Cancellation within Free Look / Cooling off period (i.e. 15 days from Disbursement). PF will be Non Refundable.

b. Cancellation post cooling Period & Before 1 EMI date (i.e. from 16th day till 1st EMI date) - Proportionate APR to be considered with max capping of ₹3000 /- (applicable for Digital Lending)

c. Cancellation Fee of ₹. 3,000/- (applicable other than Digital Lending)

EMI bounce charges

₹ 500 per bounce plus applicable taxes

Types of Charges

Amount

Prepayment / Foreclosure charges

a. 3% on principal outstanding amount.

b. Nil after 12 EMIs paid.

c. For Business Loans (BIL/BL) <=50 Lakhs i.e. Booked under code ‘UP’, the FC to be considered as “NIL” if first EMI is paid. This is applicable only for Micro and Small enterprises only (subject to URC submission) and not for Medium enterprises.

Cheque/

AD/ ECS bounce charges

₹ 500

Late payment charges

5% Per Annum will be charged on the overdue EMI until repayment.

Loan processing charges

2% of the loan amount + applicable taxes

Repayment mode swap charges

₹ 500

Loan cancellation charges

a. NIL Cancellation within Free Look / Cooling off period (i.e. 15 days from Disbursement). PF will be Non Refundable.

b. Cancellation post cooling Period & Before 1 EMI date (i.e. from 16th day till 1st EMI date) - Proportionate APR to be considered with max capping of ₹3000 /- (applicable for Digital Lending)

c. Cancellation Fee of ₹. 3,000/- (applicable other than Digital Lending)

Salary Overdraft (Processing fee)

0.99% of limit amount subject to a minimum of

₹ 1,999 and a maximum of

₹ 2,999

Salary Overdraft (Annual renewal fee)

₹ 1,999