No foreclosure charge once 24 EMIs are paid
Figures published by ICICI Bank as of 3rd August 2026. Indicative, not an offer.
ICICI Bank prices from 9.99% p.a., lends up to ₹50 lakh on the standard product and runs terms to 72 months. Its notable term is foreclosure: after twenty-four EMIs the loan can be closed with no charge at all, which suits a borrower who expects income to rise and wants the option to clear the balance early.
The bank assesses both salaried and self-employed applicants. Salaried applicants are eligible from age 20 to 58 with net monthly income from ₹30,000 — the highest income floor among the private banks here — and two years of work experience. Self-employed applicants qualify between 23 and 65 with two years in the current business.
ICICI publishes a ₹2 crore headline for select relationship customers; ₹50 lakh is the realistic ceiling on the standard salaried product.
| Product or borrower segment | Interest rate |
|---|---|
| Salaried personal loan | 9.99% p.a. onwards |
| Instant pre-approved loan | 10.50% p.a. onwards |
| FlexiCash overdraft against salary | Charged on the amount used |
| Personal loan for NRIs | On request, against Indian income |
Opens at 9.99% p.a., the lowest rate ICICI Bank publishes. Raise it to see what a weaker bureau score would cost you.
Reducing-balance interest, the same basis the lender quotes on. The interest figure is what the loan adds to the amount you borrow.
Early instalments are mostly interest. The principal only starts falling quickly in the closing years, which is why prepaying early saves so much more than prepaying late.
| Year | Principal paid | Interest paid | Balance |
|---|
Twenty-four EMIs in, the loan closes at no cost. On a ₹10 lakh five-year loan that is a saving of several tens of thousands against a 5% foreclosure charge.
An overdraft against the salary account, where interest applies only to the drawn balance. Useful when the requirement is a buffer rather than a lump sum.
Two years in the current business is the threshold, and returns rather than salary slips carry the assessment.
Pre-approved offers on the salary account are disbursed in minutes through net banking or iMobile with no documents.
Processing and foreclosure charges routinely outweigh a small difference in rate. Read these against the rate table above.
Meeting these is what gets the file assessed. Where you land inside the rate band is decided separately, by your bureau record.
Every rate you check and every offer you compare credits coins to your wallet, and they convert 1:1 into rupees.
It exists for select relationship customers with commensurate income. Treat ₹50 lakh as the working ceiling for a standard salaried application.
It is a revolving overdraft on the salary account. There is no fixed EMI and interest is charged only on what is drawn, so it costs less when the money is needed intermittently.
ICICI positions this product at a slightly different segment. Applicants earning between ₹25,000 and ₹30,000 usually find HDFC, Tata Capital or Moneyview a better fit.
9.99% onwards
Up to ₹40 lakh · fee Up to 2%
Read the terms →10.00% - 30.00%
Up to ₹55 lakh · fee Up to 3.93%
Read the terms →12.00% - 22.50%
Up to ₹25 lakh · fee Up to 2%
Read the terms →9.99% onwards
Up to ₹50 lakh · fee Up to ₹6,500
Read the terms →