Being an employee of the bank, I can help you out with the ICICI Bank personal loan processing fee. It is between 0.50% and 2% of the total loan amount. So if you avail of a loan of Rs 2 lakh, your processing fee will be between Rs 1,000 and Rs 4,000. It is a one-time fee so you will need to pay it during the loan approval processing.
What is the ICICI Personal Loan Processing Fee?
The personal loan processing fee ICICI is a one-time fee that ranges between 0.5% and 2% of the loan amount. You will be informed about it as soon as you talk with a bank official and provide the necessary documents.
Is Processing Fee Charged For Every EMI Payment?
No. processing fee is charged only once, usually with the first month's EMI. it is charged once, irrespective of the loan amount and loan tenure.
Why do I get Charged a Processing Fee?
The processing fee covers the executive costs involved in approving and disbursing your loan application, like paperwork, verification and others.
You can simply visit the
ICICI Bank portal
and get to know all the details regarding fees, criteria, required document list and others there.
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Hi, I am an ICICI bank account holder and when I was in need of some funds, I chose to go for an ICICI personal loan. But I wasn’t aware of ICICI bank personal loan processing fee and other details, so I called a friend who works at the bank. He answered all my queries by providing me with all the necessary details.
What is the ICICI Personal Loan Processing Fee?
I have added all the information related to the loans such as personal loan processing fee ICICI, etc. in the table below.
| Type of Credit Facility | Interest Rate and Charges Applicable |
Personal Loan Interest Rates |
10.80% to 16.15% p.a. |
Loan Processing Charges (Non Refundable) |
Up to 2 % of loan amount |
Prepayment /Foreclosure Charges |
3% on the principal outstanding amount. Nil after 12 EMIs paid. |
Cheque /AD/ECS bounce Charges / SAL OD (Late payment fees) |
Rs. 500 |
Repayment mode swap Charges |
Rs. 500 |
These are all the information that my friend provided me about the ICICI personal loan processing fee.
He also told me that there are no loan cancellation charges within the free lock/ cooling off period, which is 15 days from the date of disbursement. Post-cooling off period and before the 1st EMI date, a proportionate APR be considered with the max capping of Rs. 2,500 will be applicable for Digital Lending. For non-digital lending, the cancellation fee is Rs. 2,500.
And that’s all about the ICICI bank personal loan processing fee. Hope this helps.
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Authors Of The Question
What is ICICI Bank Personal Loan Processing Fee?
Anand
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2 Answers
7 months
2024-05-14T08:44:04+00:00 2024-05-14T08:47:33+00:00Comment
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