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Personal Loan Interest Rates 2025

Interest rates on a Personal Loan refer to the annual cost of borrowing funds. Lenders set these rates based on various factors including creditworthiness and market conditions. Borrowers can use interest rate calculators to estimate their monthly repayments. Personal Loan interest rates play a crucial role in determining the overall cost of the loan; borrowers should compare the rates and choose the most favourable option for their financial needs. ICICI Bank offers Personal Loans with competitive interest rates starting at 10.80%* per annum.

 

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Latest Personal Loan Interest Rates

 

Particulars Interest rates and applicable charges

Personal Loan interest rates

Between 10.80% and 16.50% per annum

Loan processing charges / Origination charges (Non-refundable)

Up to 2% of the loan amount plus applicable taxes

 

Latest MCLR

 

ICICI Bank MCLR – 1 Year Spread Effective ROI

8.75%

2.05% to 7.75%

10.80% to 16.50%

 

MCLR stands for the Marginal Cost of Funds based Lending Rate. MCLR is subject to change, which may affect the final interest rates and hence the above figures are indicative in nature. T&Cs.

 

Interest Rate Range for Personal Loans for period January 2025 to March 2025:

Type of Credit Facility Maximum Minimum Mean

Personal Loan

16.65% per annum

10.80% per annum

12.70% per annum

 

 

Note:

  • It excludes subsidies, government schemes and loans disbursed under the Emergency Credit Line Guarantee Scheme (ECLGS) at the mandated interest rate of 9.25%.

     

Personal Loan Annual Percentage Rate (APR)

Annual Percentage Rate (APR) is the annual cost of credit which includes interest rate and all other charges associated with the credit facility.

 

Please click here to calculate these charges and to download the APR Calculator.

 

CALCULATE EMI   APPLY    CHECK YOUR ELIGIBILITY

 

Notes:

 

  • The specific interest rate applicable to a customer is dependent on the segment, asset category and location.

  • ICICI Bank reserves the right to revise the Rate of Interest and Processing Fee from time to time, at its sole discretion.

  • GST and other government taxes, levies, etc., applicable as per the prevailing rates will be charged over and above the mentioned charges at the discretion of the Bank.

  • The charges or fees given in the table are subject to change and the charges/ fees recorded in your agreement will be binding over the details mentioned here.

 

Fees and Service Charges

ICICI Bank offers a higher Personal Loan amount and lower EMIs at attractive interest rates. Please visit the ‘Penal and Service Charges’ tab on the ICICI Bank website to learn more about the fees and service charges applicable on an ICICI Bank Personal Loan.

 

Important Information

As per Rule 9B of the Prevention of Money Laundering (Maintenance of Records) Rules, you are required to inform the Bank if there are any changes in your KYC details along with the updated documents (i.e. address, contact details, profile, etc.) within a period of 30 days from the date the changes were made. Once you inform the Bank, the necessary changes will be made in the Bank records.

 

Disclaimer: The products, services and offers referred to here are subject to the Terms and Conditions governing them as specified by ICICI Bank from time to time on www.icicibank.com. Nothing contained here will constitute or be deemed to constitute an advice, invitation or solicitation to purchase any products/ services of ICICI Bank.

Personal Loan Interest Rates FAQs

Is 10.85% a good interest rate on a Personal Loan?

Yes, 10.85% is a good interest rate. It depends on the borrower's credit profile and the Bank’s Terms and Conditions. Please review specific interest rates and applicable charges before applying.

Which type of loan has zero interest rate?
No loan has a zero interest rate. However, we may offer a promotional interest rate of 0% for a limited period on Credit Cards.

How can I get the lowest interest rate on a Personal Loan?

To get the lowest interest rate, you can improve your credit score, apply for a Joint Loan with a co-applicant and opt for a shorter loan tenure. For more information, please connect with us.

What are ICICI Bank Personal Loan interest rates?

Interest rates are charged when you avail a loan from the Bank. ICICI Bank offers affordable interest rates on Personal Loans. However, these rates depend on the credibility and credit profile of the applicant.

How are the Personal Loan interest rates calculated?

The Bank adds 1/12th of the annual rate of interest for each month to the remaining loan amount. Customers are supposed to make monthly payments towards their principal amount plus this amount to pay off their loans.

How can I reduce the burden of paying interest on a Personal Loan?

Here are two ways to reduce the burden of paying interest on a Personal Loan:

  • Make extra payments: Pay an extra amount towards your principal. It reduces the outstanding balance and reduces the future interest charges.

  • Explore refinancing: If your credit score has improved, refinance your loan with banks offering lower interest rates. This can save you money over the tenure of the loan.

What is the difference between part payment, prepayment and pre-closure? 

The difference between part payment, prepayment and pre-closure is as follows:

  • Part payment: Paying a portion of your outstanding loan balance before your loan repayment date.

  • Prepayment: Paying off the entire remaining balance before your loan repayment date. It could include a prepayment penalty.

  • Pre-closure: When you pay off the loan with the outstanding principal at once, it may often include a penalty.

Can I avail a Personal Loan at a lower interest rate despite having a low CIBIL score?

ICICI Bank offers Personal Loans to individuals who provide the required documents as proof of their stable incomes to offset the risk of low CIBIL scores. However, it is advisable to improve the CIBIL score before applying for a loan to get better interest rates and loan terms. 

Disclaimer

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