Simple ways to use personal loan balance transfer of ICICI Bank

icici bank personal loan balance transfer

ICICI Bank is one of the leading financial institutions in India. A great number of people rely on its services for their various needs. There are many benefits that one can get by dealing with this bank. Borrowers with bad credit history can also obtain credit with the help of this credit card. Here are some of the advantages which one can derive as a personal loan balance transfer to ICICI Bank.

ICICI Bank Personal Loan Balance transfer

ICICI Bank is one of the best banks in India that gives a plethora of high-quality banking services as well as financial products. Each product offered by ICICI Bank offers a number of beneficial features. Whether the user needs a personal loan, home loan, debit card, credit card, and more.

Likewise, a business loan can also be obtained with a low rate of interest and affordable monthly payments. Likewise, a car loan can be acquired with ICICI. Thus, you can improve your credit score as well as your monetary position in an instant by applying for any of the above-mentioned kinds of loans.

In addition, if you do not own a home or do not own a car, you might find it difficult to apply for a personal loan in ICICI Bank. Fortunately, you do not need to suffer from bad credit as there are other options available to you. One option is to borrow from your friends or relatives. If your relatives or friends have a good credit history, they will most likely be happy to lend you money. The catch, however, is that they will probably charge a higher interest rate than the one ICICI offers. Still, this option might work for you if you have some property that you can offer as collateral.

Benefits ICICI Bank Personal Loan

  • First and foremost, ICICI offerscompetitive rates for various kinds of credit transfers.
  • Thus, a borrower can obtain money by transferring the balance of his account to his name at ICICI Bank.
  • This can be done easily as the company charges only minimal service charges.
  • ICICI provides its customers with no-charge inter-bank transfers of their accounts.
  • ICICI offers competitive rates for various kinds of loans such as personal loans, business loans, car loans, and home loans.
  • Borrowers who have a bad credit history or no credit history can easily avail of a personal loan with a low rate of interest and affordable monthly payments.

How to apply for ICICI Bank Personal Loan?

Before applying for personal loans in ICICI Bank, you must know your income and the value of your property. The lender will require you to submit this information to them before you proceed with the loan application. In case of bad credit or no income, you may still be able to get a loan but you will have to pay a higher interest rate. Even with bad credit or a poor credit score,you can still apply for a loan as long as you have a steady job and you have a savings account with a significant amount of money.

Check eligibility

In this step, you can check your eligibility for using ICICI Bank personal loan balance transferby filling up an easy online application form with your personal, occupational, and existing loan EMI-related information.

Offer for you

If you are eligible for the loan amount on the basis of the details provided, now in the next step the bank will provide an exclusive ICICI Personal Loan balance transfer offer containing the details of the loan amount, repayment tenure, and interest rate.

Complete application

After accepting the offer, you will get directions to the third step where you have to fill an online personal loan application form with your personal and professional details. This process will take 5 minutes to approve the process.

Upload documents

Once you submit the loan application form, you can upload all the mandated documents to the website to finish the balance transfer process.During this process, the bank might take some time to process your request.

Note: After the process completed personal loan balance transfer request is processed by the bank, the loan amount will directly get credited into your bank account.


To avoid paying more money for a loan than you need to, you should only take a loan that you can repay easily. If you are planning to use the loan to pay off your credit card bills or to buy something expensive that you can’t afford, then it would be wiser to take a personal loan from other sources. A quick search on the Internet can give you some good deals on affordable loans that you can easily repay. If you are planning to get a loan from ICICI, make sure that you choose a loan that has reasonable interest rates.

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