Hi Sania. I am a loan officer at ICICI and can help you by sharing the personal loan eligibility in ICICI Bank. The major criteria set for availing the loan include your age, employment status, residence, CIBIL score, work experience and income. I’ll share them in detail below. I will also talk about the several factors that may affect your chances of getting the loan.
ICICI Personal Loan Eligibility
Here is the detailed eligibility criteria to get a personal loan from the ICICI Bank:
Age
Salaried Applicant: You need to be between 23 years and 58 years of age
Self-Employed: You need to be aged between 28 years and 65 years. The minimum age for doctors is 25 years.
Work Experience
Salaried: A minimum of 2 years of experience in the current job.
Self-Employed: At least 5 years. For doctors, a minimum of three years.
Income
Salaried Applicant: A minimum of Rs. 30,000 per month
Self-Employed: A minimum of Rs. 40 lakhs in turnover for non professionals and Rs. 15 lakhs for professionals. Applicants need to show a minimum profit of 2 lakhs (Proprietorship Firms or Self-employed Individuals) and Rs. 1 Lakh for non-professionals, according to the audited financials.
Residence
Need to be an Indian resident with a valid residential address. You need to be living at your current residence for a minimum of 1 year.
Factors Affecting Loan Eligibility
Here are the factors:
Loan Amount and Tenure are two influential factors. With a higher loan amount, you’d need a higher income and CIBIL score to gain approval. The tenure decides the EMI, so that comes into play as well.
Age: As I shared the range above, you need to fit the criteria to be able to avail of the loan. With your age, the bank assesses your years to repay.
That is all from my side. I hope you are now aware of the personal loan in ICICI Bank eligibility.
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Hi, I was in need of a personal loan, and since I already have an ICICI bank account, I planned to take the loan from there itself. To learn about ICICI personal loan eligibility, I called a friend who works at ICICI bank. He told me that, the eligibility criteria for personal loans depends on a few factors, such as age, credit score, income and so on.
What is the Eligibility for Personal Loan in ICICI Bank?
| Eligibility Criteria | Salaried | Self-Employed |
| Age | 23 - 58 |
28 - 65 (25 for Doctors) |
| Income | Rs. 30,000 |
Rs 40 Lakh for non-professionals and Rs 15 Lakh for professionals. |
| Credit Score | 750+ |
750+ |
| Employment Duration | At least 2 years |
At least 5 years and at least 3 years for Doctors. |
| Residence | Resident of India with a valid residential address. |
Resident of India with a valid residential address. |
After telling me about the criteria for personal loan in ICICI Bank, he also told me about the documents required for a personal loan from ICICI Bank.
| Type | Documents |
| Identity Proof | Aadhaar Card, Passport, Voter ID Card or PAN Card |
| Address Proof | Aadhaar Card, Passport, Voter ID Card or utility bills. |
| Income Proof | Last 3 months' salary slips, Form 16, and last 2 years' ITR |
| Bank Statement | Last 6 months |
He also said that 2 passport-size photographs are needed as well. And that was all about ICICI bank personal loan eligibility and interest rate. I hope this information about ICICI personal loan eligibility has been of help to you.
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Authors Of The Question
What is the Eligibility for Personal Loan in ICICI Bank?
Sania
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10 months
2024-02-19T09:18:18+00:00 2024-02-19T09:18:37+00:00Comment
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