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SUITABLE FOR

Existing personal loan customers

  • Attractive interest rates

  • Minimal documentation

  • Flexible repayment tenure

  • Quick Processing

  • No collateral required

About ICICI Bank Balance Transfer

Eligibility Requirements

Available for existing Personal Loan holders (who have a Personal Loan with other financial institution) who meet ICICI Bank’s income and credit score criteria.

Documentation Needed

Provide your latest loan statement, last 6 months’ bank statements, salary slips of the last 3 months and KYC documents, for a hassle-free balance transfer process.

Process of Personal Loan Balance Transfer

The Personal Loan balance transfer process allows you to transfer an existing loan to ICICI Bank, subject to eligibility and internal assessment. You can apply for a balance transfer by visiting any ICICI Bank branch or by calling our customer care on 1800 1080 to get the request processed after verification and approval. To initiate the request, the branch reviews the ongoing loan details, repayment history and required documents. If found eligible, revised loan terms are offered.

Personal Loan Balance Transfer FAQs

What is a Personal Loan Balance Transfer?

Personal Loan Balance Transfer allows you to transfer your existing Personal Loan to ICICI Bank.

Is Balance Transfer allowed from all financial institutions?

Balance Transfer is permitted from all financiers except small co-operative banks, urban co-operative banks, small finance banks, payment banks, co-operative housing societies and Path Pedi.

How can I apply for a Personal Loan Balance Transfer?

You can apply for Balance Transfer by visiting any ICICI Bank branch.

Do I need to provide a security or collateral to apply for a Personal Loan with ICICI Bank?

No, ICICI Bank offers its customers a collateral-free Personal Loan without any security. 

Can I foreclose my loan with ICICI Bank?

Personal Loan Foreclosure facility is extended to all customers availing a Personal Loan with ICICI Bank. However, foreclosure charges (and taxes) will be applicable as per the service charges. However, no foreclosure charges are applicable if the customer forecloses the loan after paying 12 EMIs.

Who can opt for the Personal Loan balance transfer facility?

Eligible applicants with an existing Personal Loan from another lender may apply for a Personal Loan balance transfer, subject to ICICI Bank’s internal eligibility assessment and documentation verification.

Can you increase your loan amount by opting for a balance transfer?

You can increase your loan amount by opting for a Top Up Loan after transferring your existing Personal Loan to ICICI Bank through a balance transfer.

How long does the Personal Loan balance transfer process take?

The Personal Loan balance transfer process timeline depends on document submission, verification and internal approval before the loan is disbursed.

VIEW ALL FAQS

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