ICICI Bank Marriage Loan

With ICICI Bank Marriage Loan, you can fulfil all your dreams for your big day. The loan is available for amounts of up to Rs. 25 lakh and can fund various wedding expenses like catering, guest accommodation, decoration, jewellery, venue, invitation cards, etc. With convenient repayment options, ICICI Bank Marriage Loan allows you to repay the amount with a flexible tenure ranging from 12 to 60 months.

Interest Rate

The interest rate offered on ICICI Bank Marriage Loan starts from 10.25% and differs depending on an individual’s loan amount, credit score, repayment history, age, etc.

Fees and Other Charges

ICICI marriage loan features a few fees and charges apart from interest that you need to pay. The following is a short list of these:

The marriage loan eligibility criteria of ICICI Bank varies slightly depending on the type of applicant. The following are the details:

For Salaried:

• You should be at least 23 years old and your maximum age at the time of application should be 58 years
• Your minimum monthly salary should be Rs. 17,500. If you are living in Mumbai or Delhi, it should be Rs. 25,000 and if you are living in Hyderabad, Chennai, Pune, Bangalore and Kolkata, it should be Rs. 20,000
• You should have a working experience of at least 2 years
• You should be living in your current residence for at least 1 year

For Self-Employed:

• You should be at least 28 years old. If you are doctor, you should be at least 25 years old
• Your maximum age should be 65 years
• If you are a self- employed professional, your minimum turnover should be Rs. 15 lakh and if you are a self- employed non- professional, your minimum turnover should be at least Rs. 40 lakh
• If you are a self- employed professional, your minimum profit after tax should be at least Rs. 2 lakh and if you are a non- professional, your minimum profit after tax should be at least Rs. 1 lakh
• You should be in your current business for 5 years and for 3 years, if you are a doctor
• You should be having at least an year’s relationship with the bank

Documents Required for Loan Process

The following is a list of the common documents required as part of the ICICI Bank marriage loan application process:

• Proof of Identity (any one): Voter ID Card, PAN Card, Passport, Driving License
• Proof of residence (any one): Utility Bill (not more than 3 months old), Leave and License Agreement, Passport

Additional documents required from salaried and self-employed individuals are as follows:

For Salaried Individuals:

• Salary slips for last 3 months
• Latest 3 months bank statement

For Self- Employed Individuals:

• Income proof (audited financials for the last two years)
• Latest 6 months bank statement
• Office address proof
• Proof of residence or office ownership
• Proof of continuity of business

EMI Calculator

EMI Calculator

Amount

₹

Interest Rate

%

Tenure

Year(s)

Calculate

EMI Calculator

Monthly EMI ₹ 15,622

Total Amount Payble ₹ 5,62,395(Principal + interest)

Principal Amount ₹ 5,00,000

Total Interest Payble ₹ 62,395

Personal Loan at Attractive Interest Rates Apply Now

ICICI Bank Customer Care

• You can call on 1860-120-7777 (toll free)
• You can visit the official website of ICICI Bank and can request a call back or can type your question there
• You can visit the nearest branch of the bank

FAQs

1. How do I repay ICICI Bank Marriage Loan?

Ans. You can repay ICICI Bank Marriage Loan in easy EMIs through auto debit (if you have an existing account with the bank) or by submitting a NACH ((National Automated Clearing House) mandate with any other bank in India.

2. Can I transfer my existing marriage loan to ICICI Bank?

Ans. Yes, you may be able to transfer your existing marriage loan with a different bank to ICICI Bank subject to meeting the applicable terms and conditions.

Also Know: What is the benefit of Icici Bank balance transfer

3. What would be my interest rate if I apply for ICICI Bank Marriage Loan?

Ans. The interest rate offered by ICICI Bank on a marriage loan starts at 10.25% p.a. however, the actual rate offered to an individual depends upon his credit score, loan amount, repayment history, etc.

4. Can I use the marriage loan for any other purpose?

Ans. In case you want a loan for any personal purpose other than marriage, you should apply for an ICICI Bank personal loan instead.

5. How soon will my loan application get processed?

Ans. Once you have submitted all the applicable documents along with your application, you loan application should be proceeded and disbursal should be completed in 2-5 working days.