Can You Check ICICI Personal Loan Status

Posted by shruti keshre on March 13th, 2020

Is there any tool which can solve your problem to find out how much amount you require as a personal loan, at what interest rate and what would be the best loan repayment tenure? Well, you can find all your answers after using an EMI calculator. Yeah! It's a simple tool which can solve your problem. Not just it helps you find a good lender but also helps you calculate your monthly instalment. However, choosing a personal loan EMI calculator is not an easy task. In simple words it requires lots of studies about the product, choosing the best one after so much research and trials. But that may be the case if you are searching for a personal loan EMI calculator on your own. In this blog we have discussed ICICI personal loan EMI calculator, so keep reading this article.

Before Knowing About the EMI Calculator Let's Understand….

What is ICICI Personal Loan?

ICICI is a leading private sector bank of India which is popular for offering its banking services, insurance products, investment options, and loans. If you have taken any loan from ICICI bank then you would know that this bank offers car loan, home loan, business loan, and personal loan. Except for personal loans, all kinds of loans require some collateral. However, personal loans are unsecured loans, and to get them you need not pledge any security. This is the reason why most people in India trust ICICI Bank for a personal loan.

Let's take a look at some of the….

Awesome Features of The ICICI Bank Personal Loan.

• Higher Loan Amount - On the basis of your loan requirement, you can choose an amount up to Rs 4o lakh. This is the feature of the ICICI bank personal loan.

• Attractive Interest Rate - Nobody wants to pay a higher interest rate for personal loans, but choosing a prominent lender is also a challenge. But you will be surprised to know that ICICI bank personal loan fits in everyone's budget. Normally the interest rate of ICICI bank personal loan ranges between 10.99% and 18.49%.

• Lower Processing Fee - Since processing your personal loan application involves human involvement, in return, they ask you to pay a processing fee. However, if you choose a smaller loan amount, then there are not many worries because a higher processing fee doesn't affect that much. But if the amount is big, then it can create a massive difference.

• Longer Repayment Tenure - When you go out to search about various personal loan lenders, you will find that many of them will compel you to pay a higher loan amount within a shorter repayment tenure which is unjust. And hence you can immediately say no to such lenders. Lots of people show love towards ICICI bank because it offers a longer repayment tenure to settle down the personal loan. Generally, the tenure of an ICICI bank personal loan ranges between this and this.

What Is an ICICI Personal Loan EMI Calculator?

It's a free tool which calculates your monthly instalment prior to the loan application, it produces actual results, and there is no restriction to use this tool. Some even think that this tool is also helpful to check the ICICI personal loan status but it’s not true.

How to Use ICICI Personal Loan EMI Calculator

Using an ICICI personal loan calculator is a lot easier, then you might have thought. As you insert some details into it and click on the ‘calculate’, the calculator will show you your EMIs, total interest payable during the loan repayment tenure, and the total amount including principal and interest rate.

Details Which You Need to Enter in The ICICI Personal Loan EMI Calculator Are as Follows:

• First, you need to enter the desired loan amount suppose you need. For example, if you need Rs 5 lakh, then you will have to fill the loan amount section with the Rs 5 lakh in the amount section.

• In the next column, you need to enter the interest rate offered by the lender, suppose ICICI bank offer 11% on a personal loan, then you will and ‘11’ in the interest rate column.

• In the last column, you will have to enter the desired repayment tenure, let's say you want a loan for 5 years, then in this column, you will have to fill ‘5’ years.

Once you enter your details one by one and hit the calculate button, you can see the exact results related to monthly EMIs, interest, and total amount payable during the loan repayment tenure. The best part of the ICICI personal loan EMI calculator is that you can try as many as variations until you get satisfied. The whole process is free and doesn’t even require sign up.

Conclusion

Based upon your eligibility criteria you need to submit documents for your personal loan application. But before applying for an ICICI personal loan, use its EMI calculator, because this calculator not just help you to figure out how much you will pay, but it helps you to plan your repayment in the same way. If you are a smart borrower, then you can't afford to miss such kind of tools before making a personal loan application. And, don’t get confused between ICICI personal loan EMI calculator and ICICI personal loan status.