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What is The ICICI Personal Loan Eligibility?

Personal loan is a short term unsecured loan granted to an individual. It is commonly used to meet financial needs such as debt consolidation, wedding expenses, unexpected medical costs, home renovation, and others. Flexibility of usage, minimal documentation and quick processing make personal loan a preferred financing option to the customers. Unlike other loans, it usually has a shorter repayment tenure ranging from 1-5 years. Depending upon the individual applicant's profile and lender, the APR (Annual Percentage Rate) of a personal loan may vary from 11.29% to 35%.

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What is The ICICI Personal Loan Eligibility?

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  1. What is The ICICI Personal Loan Eligibility?

  2. Personal loan is a short term unsecured loan granted to an individual. It is commonly used to meet financial needs such as debt consolidation, wedding expenses, unexpected medical costs, home renovation, and others. Flexibility of usage, minimal documentation and quick processing make personal loan a preferred financing option to the customers. Unlike other loans, it usually has a shorter repayment tenure ranging from 1-5 years. Depending upon the individual applicant's profile and lender, the APR (Annual Percentage Rate) of a personal loan may vary from 11.29% to 35%.

  3. ICICI personal loan eligibility criteria Before applying for a personal loan you should be aware of the criteria the bank offers. If an individual can not fit in the criteria then he is not able to get any personal loan. There are two different types of ICICI personal loan eligibility criteria, first for the salaried individual and another for a self-employed person.

  4. The ICICI Eligibility criteria for a personal loan are as follows: For a salaried applicant: • Age of the applicant must be between 23 to 58 years. • The minimum monthly income of the person should be Rs. 17,500. • For the applicants of Delhi and Mumbai, the average monthly income should be Rs. 25000. • For the applicants residing in Chennai, Pune, Kolkata, Banglore and Hyderabad minimum salary should be Rs.20,000 • Applicant with a minimum of 2 years of job experience with 1 year of experience with the current organization/company.

  5. For self-employed applicant: • The applicant must be of age between 28 to 65 years. • In case of a non-professional business applicant must have a turnover of Rs. 40 lakh. • Minimum turnover of RS. 15 lakh for professional business applicant. • Profit of Rs. 2 lakh for self-employed and proprietors. Profit of at least Rs. 1 lakh for non-professional business applicant. • With 5 years of minimum experience in business.

  6. ICICI personal loan provides you benefits like: • Attractive interest rates from 11.25% p.a to 17.99% p.a. • ICICI Personal loan up to Rs. 20 lakh. • Flexible Tenure from 12 to 60 months. • No security and guarantor required. • Minimum documentation. • Instant disbursement of the loan amount to the borrowers account in 3 seconds.

  7. Online advice on personal loans Wishfin is an online financial marketplace which provides the best personal loan schemes. At Wishfin we compare the interest rate of personal loans provided by different AMC’s and get the best for you.

  8. You just need to follow the steps. • Go to www.wishfin.com • Go to ‘Register’. • Enter your Mobile Number • Click on ‘Get started’. • Mention your name, email id, and city you currently live in. • Create a password taking a cue from the instructions shown on the page.

  9. Your account will be created after entering a few more details. After Login into your Account: • Go to ‘loans’. • Click on the ‘personal loan’ option. • Check your eligibility by entering the amount you can pay for each month.

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