Finance

What is the Interest rate of Marriage Personal Loan in ICICI bank?

ICICI Personal Loan can help you meet a variety of financial needs. It’s an unsecured loan that can be used to pay for wedding expenses, medical emergencies, or if you want to go on a dream vacation or renovate your home.

You can take up your Own Wedding Loan of up to Rs 25 lakh at any time to fulfill your marital goals. ICICI Personal Loan have a quick approval process, offering an easy borrowing experience. Additionally, you can acquire funds in as little as 3 seconds with the Insta Personal Loan or pre-approved loan services. This feature is only available to ICICI bank’s existing customers.

ICICI Personal Loan Benefits & Features

The Personal Loan comes with a lot of benefits, including:

  • The money can be credited to your account three seconds after your application is approved. Insta Personal Loan is the name of this service.
  • You have the option of picking the loan term with ICICI Bank. You have the option of applying for a loan with a term of one to six years.
  • ICICI Bank’s online services allow you to keep track of the status of your application online and offline and get any help you need at any time.
  • There is only a little documentation and papers required.
  • The interest rate is set and will not vary during the term of the loan.
  • Because it is an unsecured loan, you are not obliged to provide any sort of collateral or security.
  • ICICI Marriage Loan offers you a wedding loan with little documentation, no collateral, and speedy processing and disbursement. To get a marriage loan from ICICI Bank, you’ll need a monthly salary of 30,000 rupees. It guarantees a wedding loan with minimal documentation and no collateral requirements.

Documents Required to avail an ICICI Personal loan 

To get an Personal Loan, you’ll need the following documents.

  • For Salaried Individuals

  • Proof of Identity: Identification such as a passport, driver’s licence, voter’s ID, and PAN card are all accepted (any one)
  • Proof of Residence: Passport / Utility Bill (within the previous three months) / Leave and License Agreement (any one).
  • Bank statement (where salary/income is credited) for the last three months.
  • Receipts for the previous three months’ salary.
  • Two passport-size photographs
  • For Self Employed Individuals

  • KYC Documents Required: Proof of identity, proof of residence, and proof of date of birth are all required.
  • Proof of Residence: Passport / Utility Bill (within the previous three months) / Leave and License Agreement (any one).
  • Proof of earnings (audited financials for the last two years).
  • Statement from the past six months’ bank account.
  • Proof of office location.
  • Ownership documentation for a home or business.
  • Evidence of the company’s existence for a long time.

ICICI Personal loan Interest Rates

The ICICI Bank Personal Loan Interest Rates and other charges are mentioned below –

Marriage loan Interest Rates Starting from 10.50% 
Processing charges of ICICI Personal loan for Marriage 2.25% of the loan amount + GST 
Loan Term Up to 6 years
Loan Amount (min and max) Rs 50,000 – 25 Lakhs

The Bottom Line

ICICI Personal loan for marriage can be a lifesaver when you have lack funds but want to have a great grand wedding. The ICICI Bank Personal Loan interest rate are also very affordable with a flexible repayment period and no other hidden charges.

Read Also: Difference Between a CIBIL And a Credit Score?

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