ICICI Bank Personal Loan Status Check
You can Check the Personal Loan Status through the following methods
ICICI Bank Personal Loan Status Check: Offline
ICICI Bank Personal Loan Customer Care
A person can check the loan status by calling the numbers 1800 200 3344 for any financial queries including Personal Loan.
ICICI Bank Branch
You can also directly go to the branch you apply at to meet the officer in charge to know the status of your personal loan application.
ICICI Bank Personal Loan Status Check: Online
ICICI Bank provides customers with a simple and hassle-free means of checking their personal loan status.
To check your personal loan status from ICICI Bank you would need to provide the following inputs
- Application form number
- Reference Number
Incase you do not remember the application and reference number you can enter the following details to know your personal loan application status
- Date of birth
- PAN number
- Loan amount requested
Personal Loan Tracking
Tracking ICICI Bank Personal Loan application through your mobile number and date of birth
With Mobile number being a unique identifier, many banks use mobile number alone as a point of reference to track the personal loan application. This way the customer does not need to search for a different number like reference number to check their application status. Using this method, the customer can check the loan status from anywhere. As an added precaution some banks might ask for date of birth along with the reference number/application number for reference.
ICICI Bank Personal Loan tracking by reference number
Just like mobile number the reference number/application number is also a unique identifier. The only downside with checking the loan status using this method for the customer is that they need to keep this number in hand as they might not have memorized it.
ICICI Bank Personal Loan application status through net banking
If you are an existing customer, you have an added advantage. Not just the case where you can try and negotiate better loan terms you can also apply and check your loan status on the et banking portal. All you need to do is login to your net banking portal and go to the loans section. Here you can apply, check or know the balance on the loan you apply.
Personal Loan Status Check
There might come a time in every person’s life where they are hard pressed for money. It could be because of many reasons like marriage, education fees payment, medical emergencies etc. During these times an individual will be in need of money from a few thousand to lakhs. It is to help in these situations that banks like ICICI Bank provide Personal Loans.
As you can clearly see a Personal loan is a multipurpose loan that can be applied online or offline. Since personal loans are unsecured loans there are strict rules and regulations that the borrower needs to fulfil before loans are approved. Once the personal loan is approved you can check the status of the loan through any one of the following.
How to apply for a Personal Loan?
To apply for a personal loan, now you can either do it online or in person to the nearest ICICI Bank branch.
Online method: Like ICICI Bank, every bank has an online portal. The users can visit the official website of the bank and provide details such as name, income, employment and property documents to apply for a personal loan. Once application submission is over, the bank will process your application and approve your personal loan. The applicants can also track the personal loan application online and offline using simple steps.
Offline Method: You can visit the bank, fill in the application and submit it along with the requisite documents. In general, it can take up to 30 days for your application to be processed and approved/rejected. You can also contact the customer care number to apply for a personal loan.
Documents required for ICICI Bank Personal Loan
Important documents to be submitted while applying for ICICI Bank Personal Loans
Completed loan application
- 3 Passport size photographs
- Statement of Bank Account/ Pass Book for last six months
- Proof of residence (photo copies of recent Telephone Bills/ Electricity Bill)
- Proof of identify (photo copies of Voters ID card/ Passport/ Driving licence/ IT PAN card)
- IT returns for the three years for self-employed professionals\
- Form 16/IT returns for the last two financial years for salaried employees
ICICI Bank Personal Loan Eligibility Criteria
There are certain factors or criteria stipulated by banks which needs to be satisfied before loan applications are approved. They are
|Age||Minimum 21 years|
|Maximum 65 years|
|Employment Type||Salaried or Self-employed|
|Employment status||Employed/In-business for at least 2 yrs. and at least 1 yr. with current employer/business|
|Minimum Income||Rs.4000 - Rs.20000 per month (Varies according to area, which is higher in cities)|
|Maximum Loan Amount||Rs.70 lakhs (Based on your repayment capability)|
|Tenure||Minimum – 6 months|
|Maximum – 60 months|
|Credit Score||Preferred 750|
These are the general criteria which you need to satisfy for your loan to be approved. These criteria will change from bank to bank.
Factors Affecting ICICI Bank Personal Loan Application
Apart from the eligibility criteria there are certain factors that affect your loan application mainly the minimum salary expectation and your loan amount eligibility. They are
1. Location: the place where you stay plays an important part in your loan application. This determines the minimum salary amount for you to be eligible for a ICICI Bank Personal Loan. The minimum salary is higher in the cities and more so in the case of metropolitan cities like Mumbai.
2. Income: The higher the income the better loan amount you will get. This also shows that your repayment capability is excellent.
3. Housing situation: Whether you stay in your own house or in a rental property also play a part in determining your loan amount. This is because staying in a rental property reduces the disposable income, which means that your repayable capacity is reduced.
4. Company of employment: Working for a reputed company close to a year could indicate to the lender you are in a stable job, the better the rating of the company the better the interest rate can be negotiated.
5. Existing credit: If you already have another loan or credit card debt will play a major factor in determining your loan amount and interest rate.
6. Credit history: Your credit history based on which your credit score is calculated is very important. It is a primary factor upon which the loan amount, interest rate and tenure depend upon. If there is any discrepancy in your credit history, there are chances of your loan being rejected outright.
There are multiple factors that banks consider before approving any Personal Loan.
Repaying your ICICI Bank Personal Loan
Standing Instruction (SI) is a good way to pay your EMI if you are an existing account holder at the lender bank. Your EMI amount will be debited automatically at the end of the monthly cycle from the ICICI Bank account you specify. It is simple, and you do not need to remember each month about paying the loan manually. There is also Electronic Clearing Service (ECS) which can be used in case you do not have an account at the lender bank. ECS is where you give the lender bank permission to directly withdraw money automatically, each month from your specified other bank account. Lastly there is Post-Dated Cheques (PDCs) which can be submitted to the lender bank for the duration of the tenure, which the bank will deposit each month on the date specified by you. Most banks make this facility available only in areas where the ECS or SI facilities are not available. This method also has the drawback where the bank might lose the cheques as the duration or tenure is long.
ICICI Bank Personal Loan Status Check FAQ
1. How can I track my ICICI Bank personal loan application status?
You can track your home loan application status either online or offline. You may have to provide the details of Application form number and Reference Number to track the status. In case you do not remember the application and reference number you can enter the following details to know your personal loan application status
- Date of birth
- PAN number
- Loan amount requested
to track the status of your home loan application.
2. Will only ICICI Bank customers be eligible for a personal loan?
Though ICICI Bank customers might have an edge over the negotiating of a Personal Loan terms, it is not restricted to existing customers alone. All can apply for it provided they meet the loan criteria.
3. How will I know if my ICICI Bank Personal Loan application is approved or rejected?
Will get intimations through SMS, Email or by registered post in case of both approval and rejection. If approved the letter will contain details of the loan while in the case of rejection it will have details of why your loan was rejected which you can work on to get your loan approved the next time.
4. How can I repay the ICICI Bank Personal Loan?
You pay the loan in equal monthly instalments (EMIs). The loan will be paid through post-dated cheques. You can also pay through Electronic Clearing System (ECS) or a standing instruction to debit your ICICI Bank account with the EMI amount.
5. Are there prepayment options with ICICI Bank Personal Loan?
Yes, you can prepay the loan, but there might be prepayment charges of about 1% to 3% on the balance.