ICICI Bank Personal Loan Review – Forbes Advisor INDIA

Eligibility

This loan is available for applications from employees and self-employed.

The only difference is in the criteria to be applied for both as follows:

In both cases, these parameters can be changed if the bank is convinced of the financial stability of the applicant.

Refund

One can repay the loan using online banking services or by issuing checks at a branch of ICICI Bank.

Assurance

The ICICI Bank coverage plan known as “Loan Protect Plus” provides insurance coverage to the claimant to facilitate them in the event of accident or premature death.

Items required to be eligible for insurance:

Documents for employees:

  • Proof of Identity: Any of them can work i.e. passport, driver’s license, voter card, PAN card.
  • Proof of Residence: Any of these documents, leave and license agreement, utility bill (shipped within 3 months).
  • The last three bank statements.
  • Pay slip for the last three months.
  • Two passport size photos.

Documents for the self-employed:

  • Know Your Customer (KYC) documents: these documents will be the same as the employees mentioned above, namely; Proof of identity, proof of address, proof of date of birth.
  • Proof of income: Financial audit documents of at least two years.
  • Bank statement for the last six months of the loan application.
  • Proof of address for the office.
  • Proof of office residence or ownership.
  • Proof of business continuity.
  • Two passport size photos.


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