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Personal Loan Processing Fees and Charges
Penalty charges & service charges applicable for Personal Loans, Business Instalment Loans & Salary Overdraft:
| Sr. No. | Types of charges | Amount |
|---|---|---|
| Penal Charges | ||
1 |
Cheque/Auto Debit/Electronic Clearing Service bounce charges /Salary Overdraft (Late payment fee) |
₹ 500 |
2 |
Charges for late payment |
5% per annum will be charged on the overdue EMI (Equated Monthly Instalment) until repayment |
3 |
Non Maintenance of Mode of Payment charges (NMMP) |
₹ 800 |
| Service Charges | ||
1 |
Loan processing charges (non-refundable) |
Up to 2% of the loan amount |
2 |
Repayment mode swap charges |
₹ 500 |
3 |
Loan cancellation charges |
a. Nil – If the loan is cancelled within the free look/cooling off period (i.e. 15 days from the date of disbursement). Processing Fee will be non-refundable b. If the loan is cancelled after the cooling off period, cancellation fee of ₹ 2,500 is applicable |
4 |
Prepayment charges/Foreclosure charges |
a. 3% of the outstanding principal amount b. Nil after 12 EMIs c. For Business Instalment Loan (BIL) <= ₹50 lakh the foreclosure charges will be ‘Nil’ only for micro and small enterprises (subject to URC -Udyam Registration Certificate submission) and not for medium enterprises |
5 |
Part payment charges |
a. 3% + GST on the part payment amount being paid for the loan seasoning period of up to 24 months b. Nil for a loan seasoning period of above 24 months |
6 |
Salary Overdraft (Processing Fee) |
0.99% of the limit amount subject to a minimum of ₹ 1,999 and maximum of ₹ 2,999 |
7 |
Salary Overdraft (Annual renewal fee) |
₹ 1,999 |
8 |
Cash transaction charges |
₹ 100 at the Branch |
9 |
Duplicate NOC (No Objection Certificate) /NDC (No Dues Certificate) charges |
₹ 250 for physical printout at the Branch |
10 |
Information utility charges (Only for corporate cases) |
₹ 300 |
11 |
Prepayment statement charges |
₹ 200 for physical printout at the Branch |
12 |
Amortisation Schedule charges |
₹ 200 for physical printout at the Branch |
13 |
Loan recovery charges (if applicable) |
At Actuals |
Note:
1. All the above charges are exclusive of Goods & Services Tax (GST). Applicable GST, taxes and/or other statutory levies shall be levied over and above the charges levied by the Bank.
2. The charges/penal charges will be levied at the sole discretion of the Bank.
3. Foreclosure/Preclosure of the loan is allowed post payment of the 1st EMI with applicable charges.
4. The minimum part payment amount should be equivalent to 3 EMIs and the maximum part payment amount should be equivalent to the loan outstanding amount excluding the last EMI.
5. Maximum 3 part payment requests are allowed in a Financial Year.
Grievance Redressal Mechanism:
ICICI Bank follows a three-level grievance redressal mechanism that is available on the website of the Bank. For details, please visit our website www.icicibank.com and navigate to Contact Us > Raise a Query/Complaint.
