ICICI Personal Loan can be your Financial weapon in CrisisPosted by shruti keshre on February 22nd, 2020 ICICI personal loan can be used for any purpose like buying a new home, home renovation, to go on an exotic vacation, even it can be used to pay off the education expenses, etc. The personal loan processing in ICICI Bank is simple and quick as compared to other lenders are simple and one of the major reasons for this as it doesn’t require any sort of security or collateral. This on a large extent minimizes the number of steps of the loan procedure. and can be avail without any collateral. Always as being an unsecured loan, it considered and preferred by the loan seekers. ICICI Personal Loan offers repayment tenure, which starts from 1year to 5 years. A borrower can also take advantage of prepayment or part payment while taking a personal loan from ICICI Bank. The loan process is so fast in ICICI that an applicant can get loan approval within a few minutes, he/she own a salary account or a current account in this bank. ICICI Personal loan offers maximum loan up to Rs.20 Lakhs. The rate of interest ranges from 11.25% to 22.00% p.a. ICICI Banks offers various customized services which include the loan prepayment. So, if you are planning such a loan that you can repay as per your convenience before the loan tenure then ICICI Bank personal loan is one for you. Advantages of ICICI Personal Loan
It has seen that people look for a personal loan in an emergency where time plays a major role. And in such need, one definitely cannot afford to visit the branch and wait for its turn as that would not be a practical option to go with. And keeping this thing in mind ICICI has come up with the online personal loan application service due to which you can avail a personal loan whenever you want from anywhere.
ICICI Bank online portal is so effectively and efficiently designed & developed that the time website visitor can also use it without any hassle and difficulty.
Documentation is one of the major hassles in the loan approval process. But online ICICI Loan application has considerably reduced this inconvenience as well. It requires only some of the documents like the ID proof, proof of residency, and income proof. This can easily be done from anywhere anytime.
Like any other sector digitalization has spread its wings in the financial sector as well. And when the technology emerges with the efforts of the ICICI Bank the result has reduced the turnaround-time of the disbursement of the loan amount.
ICICI Personal Loan for Home Renovation is customized as per the borrower's needs. Importance of ICICI Bank EMI CalculatorHere are the most important aspects of using the ICICI personal loan EMI calculator before availing a loan amount.
This aspect is the obvious one i.e. EMI. Knowing what amount, you have to pay to repay the loan amount can be beneficial for you in various ways. This will not only help you in choosing the loan amount but also in making your monthly budget as you will know how much you can use for other expenses from your income.
Apart from the EMI on a personal loan an EMI calculator also helps you in knowing and choosing the best personal loan tenure. As you can play with the figures on an EMI calculator. Usually, the longer loan tenure attracts the low-interest rate as it is payable for a longer time than the shorter loan period.
The rate of interest is not an important aspect of an EMI calculator but also a personal loan. This is one key thing that decides on how you have to pay every month in the subject to repay the loan amount. Since you can alter the figures in an EMI calculator so you can easily know your best-suited rate of interest on a personal loan.
An EMI calculator tells you that for how much amount you are eligible not only as of the lender’s policy but also as your pocket ability to repay the loan amount.
It helps you in availing of the perfect loan amount for you with the best possible values. Advantages of ICICI Bank Personal Loan EMI CalculatorFollowing are the key benefits of an ICICI Bank personal loan EMI calculator:
The Personal loan EMI calculator facilitates the user to get the correct amount of EMI which needs to be paid each month, by just filling a few details of the loan.
When the user fills-in the EMI calculator form, it displays the monthly EMI and rate of interest; which helps in predicting and planning the finance for a longer period.
Users can fill the details in the EMI calculator form as per different options and can compare& find out which lender is providing the best offers to them. Features of ICICI Personal Loan:
ICICI Bank Personal Loan Eligibility CalculatorSeveral factors can influence personal loan eligibility. They include the credit score, previous loans, monthly income, continuity of the income, etc. One of the most influential factors is the repayment capacity of a borrower. If the bank finds that a borrower is financially stable, and holds a good credit score, then he/she considered as eligible for the high loan amount. An existing customer of ICICI bank may select for the pre-approved loan, which allows the borrower to get a personal loan without or minimum documentation. It is always important to check the personal loan eligibility before applying for it. The eligibility criteria for the personal loan depend on some parameters on which a borrower requires to fulfill. These eligibility parameters vary based on the loan amount, the type of availed loan and others. The offered loan amount can largely be impacted by eligibility and EMI. ICICI Bank personal loan eligibility calculator works based on various factors like interest rate, repayment tenure, nature of borrower’s employment and others. A borrower can easily check his/her eligibility with online available free of cost HDFC personal loan eligibility calculator. It takes a few minutes to show whether one is eligible for the personal loan or not. Eligibility for availing ICICI Personal Loan services
Read More: Cashe Personal Loan vs Qbera Personal Loan vs Paysense Personal Loan Like it? Share it! More by this author |