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Get instant funds for your needs through the iMobile app by ICICI Bank. It offers instant Personal Loans with a convenient application process and ensures quick disbursement. ICICI Bank customers can apply for loans ranging from ₹ 50,000* to ₹ 50,00,000*, with interest rates starting at 10.85%* per annum. The Personal Loan comes with minimal documentation, no requirement of collateral, quick approval, flexible repayment options and quick disbursement.
Features of Our iMobile Personal Loan App
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Apply for Personal loan with Ease
To apply an instant Personal Loan digitally, follow these steps:
Step 1: Log into the iMobile app
Step 2: Navigate to ‘Get Instant Loan’ and click on 'Apply now' in the Personal Loan section
Step 3: Enter your required loan amount
Step 4: Validate all the details of your loan
Step 5: Accept the Terms and Conditions by checking the box and click on ‘Disburse Now’
Step 6: Authenticate through Aadhaar-based eSign and then click on ‘Submit
This digital loan approval process ensures a hassle-free experience
Personal Loan App: FAQs
Download the Personal Loan App (iMobile app), create an Account, provide the necessary information and then submit your application. If approved, the Loan amount will be disbursed directly into your Bank Account
Apply for an instant Personal Loan online in 5 easy steps:
- Visit the ICICI Bank Personal Loan webpage / Click here to apply for a Personal Loan
- Enter your required loan amount
- Review your loan application details
- Accept the terms and conditions
- Authenticate your loan application and get your loan disbursed
ICICI Bank prioritises the security of your personal and financial information. The iMobile Pay app has advanced security measures to ensure your data is protected.
Interest Rates
Type of Credit Facility |
Details |
Personal Loan interest rates |
10.85% to 16.25% per annum |
Prepayment charges |
a. 3% on principal outstanding amount. b. Nil after 12 EMIs paid. c. For Business Loans (BIL/BL) <=50 Lakhs i.e. Booked under code ‘UP’, the FC to be considered as “NIL” if first EMI is paid. This is applicable only for Micro and Small enterprises only (subject to URC submission) and not for Medium enterprises. |
Additional interest on late payment |
5% Per Annum will be charged on the overdue EMI until repayment. |
Repayment mode swap charges |
₹ 500 per transaction plus applicable taxes |
Loan cancellation charges |
a. NIL Cancellation within Free Look / Cooling off period (i.e. 15 days from Disbursement). PF will be Non Refundable. b. Cancellation post cooling Period & Before 1 EMI date (i.e. from 16th day till 1st EMI date) - Proportionate APR to be considered with max capping of ₹3000 /- (applicable for Digital Lending) c. Cancellation Fee of ₹. 3,000/- (applicable other than Digital Lending) |
EMI bounce charges |
₹ 500 per bounce plus applicable taxes |
Charges
Types of Charges |
Amount |
Prepayment / Foreclosure charges |
a. 3% on principal outstanding amount. b. Nil after 12 EMIs paid. c. For Business Loans (BIL/BL) <=50 Lakhs i.e. Booked under code ‘UP’, the FC to be considered as “NIL” if first EMI is paid. This is applicable only for Micro and Small enterprises only (subject to URC submission) and not for Medium enterprises. |
Cheque/ AD/ ECS bounce charges |
₹ 500 |
Late payment charges |
5% Per Annum will be charged on the overdue EMI until repayment. |
Loan processing charges |
2% of the loan amount + applicable taxes |
Repayment mode swap charges |
₹ 500 |
Loan cancellation charges |
a. NIL Cancellation within Free Look / Cooling off period (i.e. 15 days from Disbursement). PF will be Non Refundable. b. Cancellation post cooling Period & Before 1 EMI date (i.e. from 16th day till 1st EMI date) - Proportionate APR to be considered with max capping of ₹3000 /- (applicable for Digital Lending) c. Cancellation Fee of ₹. 3,000/- (applicable other than Digital Lending) |
Salary Overdraft (Processing fee) |
0.99% of limit amount subject to a minimum of ₹ 1,999 and a maximum of ₹ 2,999 |
Salary Overdraft (Annual renewal fee) |
₹ 1,999 |
Disclaimer: Personal Loan interest rates and charges vary with eligibility, credit score, income, employment status and repayment period. Visit ICICI Bank Personal Loan interest rates page for more details.
Eligibility to avail a Personal Loan from the app:
- Applicants must fall within the age range of 20 to 58 years to be eligible for a Personal Loan.
- Salaried individuals applying for the loan should have a minimum monthly income of ₹ 30,000.
- Applicants must have at least 2 years of work experience to qualify for a loan.
- Applicants should be residing at their current address for at least 1 year.
Note: The minimum salary requirement is flexible and may vary based on factors such as the type of employer and the applicant's relationship with ICICI Bank.
Below are the mentioned Personal loan documents for applying for a Personal Loan from the app:
The below mentioned documents are required while applying for a Personal Loan from the app:
1. Identity proof documents:
A copy of a Passport, Voter ID Card, Driving Licence, or Aadhaar Card is accepted as valid ID proof.
2. Address proof documents:
A copy of a Passport, Voter ID Card, Driving Licence, or Aadhaar Card is accepted as valid address proof.
3. Bank statement:
Submitting the Bank statement for the last 3 months or passbook entries for the last 6 months is mandatory.
4. Salary documents:
2 latest salary slips, current salary certificate, and latest Form 16 are required for processing a loan application.
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