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Loan comparison of ICICI Bank Personal Loan vs CitiBank Personal Loan

Interest Rate

Starts from 10.85% per annum
10.75% per annum onwards

Loan Amount

Up to Rs. 1 Lakh to 1 Cr
Ranges between Rs. 50,000 to Rs. 30 - 40 Lakhs

Loan Tenure

12 / 72 months (84 months for top 6 companies)
12 to 60 months

Loan Processing fees

Up to 2% of the loan amount
Up to 3% of the loan amount sanctioned

EMI per Lakh

N/A
N/A

Part Payment Charges

Prepayment charges/Foreclosure charges: a. 3% of the outstanding principal amount b. Nil after 12 EMIs c. For Business Instalment Loan (BIL) <= ₹50 lakh the foreclosure charges will be ‘Nil’ only for micro and small enterprises (subject to URC -Udyam Registration Certificate submission) and not for medium enterprises Part payment charges a. 3% + GST on the part payment amount being paid for the loan seasoning period of up to 24 months b. Nil for a loan seasoning period of above 24 months
N/A

Minimum Income

Salaried individuals: Net salary: Minimum monthly income of Rs 30,000
The minimum monthly income should be Rs. 25,000

Documents

Latest 3 months pay slips

Latest 3 months Bank statements

KYC Documents ( PAN & Adhaar)

For Salaried Individuals and Self-employed Individuals, the basic docs are: 

* PAN Card/Aadhaar Card/Driving License/Voter’s ID/Passport/Photographs 

* Utility bills from the past 3 months/Ration card/Rent agreement or lease deed or property registration document

* Bank account statement for the past 3 months 

* Latest income tax returns 

* School or College Leaving Certificate/Company ID 

* Letter from employer/Form 16/payslips 

Additional docs required for Self-employed Individuals are: 

* Trade License with photograph 

* Rent receipts or lease deed

* Ownership document 

* Profit and Loss account

* Past 2 years Income tax returns

* Balance sheet

* Bank statement for the past 6 months

* Audit report


More comparisions with ICICI Bank Personal Loan

More comparisions with CitiBank Personal Loan

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