Highlights
- Know the Exact Calculations of EMIs with an ICICI Personal Loan EMI Calculator
- This Online Tool is 24x7 Available That Helps You to Take a Calculative Decision
Want to avail a personal loan but don’t know the exact calculation of your monthly installments? Well, all your confusions will come to an end with the ICICI Personal Loan EMI Calculator. Yes, this smart online tool helps you in taking a calculative decision by giving you a quick access to your future EMIs. Know more about this magical device below.
| Loan Amount | |
| Interest Rate | |
| Tenure(Months) | |
| Monthly Instalment (EMI) | |
| Total Interest Amount | |
| Total Amount (Principal + Interest) |
| Year | Principal | Interest | Balance Amount |
|---|
An EMI calculator is one such magical tool that calculates the Equated Monthly Installment (EMI). Talking about an EMI, it is a fixed payment amount that one is liable to pay to the lender every month. EMIs are used to pay off both the interest and principal amount each month. An ICICI personal loan EMI calculator takes into account the below credentials:
- Loan Amount
- Tenure
- Rate of Interest
Based on details, the calculator will give you the result of EMI, total interest outgo and total amount. It is easy to understand the exact calculation with a graphical representation available online.
Below is a table showing ICICI personal loan interest rate & tenure wise per lakh EMI calculation
| Tenure (in years) | Interest Rate (in p.a.) | Per Lakh EMI (in ₹) |
|---|---|---|
| 1 | 10.99%-18.49% | 8,838-9,191 |
| 2 | 10.99%-18.49% | 4,660-5,016 |
| 3 | 10.99%-18.49% | 3,273-3,640 |
| 4 | 10.99%-18.49% | 2,584-2,963 |
| 5 | 10.99%-18.49% | 2,174-2,566 |
ICICI Personal Loan EMI Calculator Details
In the below tables, you can look at the EMI amount for different loan amounts at the end of different periods at an ICICI Bank personal loan interest rate of 10.99% to 18.49% per annum.
ICICI Personal Loan EMI for Different Loan Amounts and Different Tenures at an interest rate of 10.99% per annum
You can look at the EMI amounts for a period of 2, 3, 4 and 5 years respectively for a loan amount ranging from 1 lakh to 15 lakh at an interest rate of 10.99% per annum.
| Loan Amount | 2 Years | 3 Years | 4 Years | 5 Years |
|---|---|---|---|---|
| INR 1,00,000 | INR 4,660 | INR 3,273 | INR 2,584 | INR 2,174 |
| INR 3,00,000 | INR 26,513 | INR 13,981 | INR 7,752 | INR 6,521 |
| INR 5,00,000 | INR 23,302 | INR 16,367 | INR 12,920 | INR 10,869 |
| INR 7,00,000 | INR 32,622 | INR 22,914 | INR 18,088 | INR 15,216 |
| INR 10,00,000 | INR 46,603 | INR 32,734 | INR 25,841 | INR 21,737 |
| INR 15,00,000 | INR 69,905 | INR 49,101 | INR 38,761 | INR 32,606 |
ICICI Personal Loan EMI for Different Loan Amounts and Different Tenures at an interest rate of 18.49% per annum
You can look at the EMI amounts for a period of 2, 3, 4 and 5 years respectively for a loan amount ranging from 1 lakh to 15 lakh at an interest rate of 18.49% per annum.
| Amount (in ₹) | 2 Years | 3 Years | 4 Years | 5 Years |
|---|---|---|---|---|
| 1,00,000 | ₹ 5,016 | ₹ 3,640 | ₹ 2,963 | ₹ 2,566 |
| 3,00,000 | ₹ 15,048 | ₹ 10,920 | ₹ 8,889 | ₹ 7,698 |
| 5,00,000 | ₹ 25,081 | ₹ 18,199 | ₹ 14,816 | ₹ 12,830 |
| 7,00,000 | ₹ 35,113 | ₹ 25,479 | ₹ 20,742 | ₹ 17,963 |
| 10,00,000 | ₹ 50,161 | ₹ 36,399 | ₹ 29,632 | ₹ 25,661 |
| 15,00,000 | ₹ 75,242 | ₹ 54,598 | ₹ 44,447 | ₹ 38,491 |
What is the EMI of a 7 lakh personal loan in ICICI?
In the table given below, you can see the EMI on a personal loan of INR 7 Lakhs including EMIs for INR 6 Lakhs, INR 5 Lakhs, and INR 4 Lakhs personal loan at the minimum and maximum rate of interest for 3 years and 5 years.
| Loan Amount | ROI 10.50% (36 Months EMI) | ROI 10.50% (60 Months EMI) | ROI 19% (36 Months EMI) | ROI 17% (60 Months EMI) |
|---|---|---|---|---|
| INR 4 Lakhs | INR 13,001 p.m. | INR 8,598 p.m. | INR 14,662 p.m. | INR 10,376 p.m. |
| INR 5 Lakhs | INR 16,251 p.m. | INR 10,747 p.m. | INR 18,328 p.m. | INR 12,970 p.m. |
| INR 6 Lakhs | INR 19,501 p.m. | INR 12,896 p.m | INR 21,994 p.m. | INR 15,564 p.m. |
| INR 7 Lakhs | INR 22,752 p.m | INR 15,046 p.m. | INR 25,659 p.m. | INR 18,158 p.m. |
What is the monthly EMI for a 10 lakhs ICICI Bank personal loan?
The monthly EMI for an INR 10 lakhs ICICI Bank personal loan are as follows at a different rate of interest and different tenures:-
| Loan Amount | ROI 10.50% (36 Months EMI) | ROI 10.50% (60 Months EMI) | ROI 19% (36 Months EMI) | ROI 19% (60 Months EMI) |
|---|---|---|---|---|
| INR 8 Lakhs | INR 26,002 p.m. | INR 17,195 p.m. | INR 29,325 p.m. | INR 20,752 p.m. |
| INR 9 Lakhs | INR 29,252 p.m. | INR 19,345 p.m | INR 32,990 p.m. | INR 23,346 p.m |
| INR 10 Lakhs | INR 32,502 p.m. | INR 21,494 p.m. | INR 36,656 p.m | INR 25,941 p.m. |
What is the lowest EMI offered by ICICI on Personal loans?
The lowest EMI on different ICICI personal loans at the maximum and minimum rate of interest are as follows:-
| Interest Rate of 10.50% | Interest Rate of 19% |
|---|---|
| 1 Lakh Loan Amount - INR 2,149 p.m. | 1 Lakh Loan Amount - INR 2,594 p.m. |
| 3 Lakhs Loan Amount - INR 6,448 p.m. | 3 Lakhs Loan Amount - INR 7,782 p.m. |
| 5 Lakhs Loan Amount - INR 10,747 p.m. | 5 Lakhs Loan Amount - INR 12,970 p.m. |
| 7 Lakhs Loan Amount - INR 15,046 p.m. | 7 Lakhs Loan Amount - INR 18,158 p.m. |
| 9 Lakhs Loan Amount - INR 19,345 p.m. | 9 Lakhs Loan Amount - INR 23,346 p.m. |
ICICI Personal Loan Status
Now, it is no more a hassle for you to know the real-time status of your ICICI personal loan. All you need to do is just login to the account using your credentials. Visit the website and enter your loan application number and click on the submit button. The moment you enter these credentials online, you can easily see the actual status, whether its approved, pending or rejected. Knowing all this and more is now at your fingertips because everything is easy and hassle-free with this online tool.
ICICI Personal Loan Interest Rate
When it comes to availing a personal loan, the interest rate remains one of the most vital factors to consider. Currently, the lender is offering the personal credit facility at an interest rate of 10.99%-18.49% per annum, which is also the lowest rate in the market. The rates are attractive and helps in lowering your EMI and Interest burden. This is the reason that why people are always curious to know about the rates as they play an influential role in the overall loan journey.
ICICI Personal Loan Eligibility
If you want to apply for a personal loan in ICICI, it is important for you to know that without meeting the eligibility norms it won’t be possible. That’s Right! Different banks have their own eligibility norms and it is important for a borrower to fulfill the same to enjoy a hassle-free loan journey. Talking about the eligibility, the bank offers loan to both salaried as well as self-employed individuals. But plenty of other factors such as age, income, credit score, job stability, work experience and employment type also come into play. After judging an applicant on these parameters, ICICI offers this unsecured credit facility to fulfill their varied needs.
Here are the parameters on the basis of which the personal loan EMI is calculated.
Parameters on which Personal Loan EMI is calculated
Here are the parameters based on which the personal loan EMI is calculated:
Loan Amount: The first and most important thing to know when it comes to calculating EMIs is the loan amount. EMI is directly dependent on the loan amount which varies from applicant to another based on their personal loan eligibility. For a better financial planning, the EMIs should not exceed more than 50% of your income.
Interest Rate: The rate offered to you at the time of application is the annual interest rate but the EMI is calculated based on the monthly interest rate. Thus, the calculator will divide the annual interest rate by 12 and then do the calculations.
Tenure: The longer the tenure, the easier it is for the debtor to repay the fund. At ICICI Bank, the tenure is up to 5 years. Thus, it gives you the option to choose the flexible repayment and enjoy pocket-friendly EMIs.
ICICI Personal Loan Contact Number
To get in touch with the customer care executives of ICICI, just dial 1800 200 3344 either from your mobile or landline. You can call on this number from Monday to Friday between 9 a.m. to 6 p.m. These professionals will listen to all your problems and give you the best solutions for a hassle-free journey.
Personal Loan Eligibility Calculator
By using an eligibility calculator, you would know the exact and accurate loan amount you can actually avail from a lender. This device after taking into account-Loan Amount, Income and Other Monthly Expenses- lets you know the loan amount you can get from a lender. With that, you could plan your loan accordingly.
Frequently Asked Questions
1. How ICICI Bank Personal loan EMI is calculated?
The ICICI bank considers three factors to calculate the EMI and they are the rate of interest, loan amount, and the repayment period. If you have a high-interest rate on the loan then the EMI will also increase.
2. How can I pay ICICI bank Loan EMI?
You can pay the ICICI bank EMI through Auto-Debit in which the bank will deduct the amount of EMI on the specified date given by you. But make sure to maintain the balance more than the EMI that has to be deducted.
3. What is the formula to calculate Personal loan EMI?
If you are calculating the EMI manually then you can use the following formula:-
EMI = P x R x (1+R)^n/((1+R)^n-1)
P is the Personal Loan Amount.
R is the Rate of Interest Per month.
Small “n” represents the tenure given by the bank.
4. What factor affects ICICI Bank Personal Loan EMI?
Interest Rate, Principal Amount, and the Repayment period are the affecting factors of the ICICI bank personal loan EMI.
5. What is the best way to calculate EMI for an ICICI Bank Loan?
The best way to calculate the EMI for the ICICI Bank Loan is through the ICICI Bank Personal Loan EMI Calculator. If you are calculating the EMI manually through the formula then it will take a lot of time and a small mistake will result in wrong calculation of EMI.