What is the ICICI Personal Loan Preclosure Process | NoBroker Forum (2024)

Tushar57

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The process of how to preclose ICICI personal loan has already been mentioned by the commentators and they are absolutely right. You will have to visit your nearest ICICI bank branch and pre-close your personal loan there. However, an online option is also available so let me just give you a brief on it.

How to Pre Close Personal Loan In ICICI Bank?

It is very easy to pre-close a personal loan in ICICI bank but to do that, you have to pay at least one EMI. once this is done, you will need to:

• Visit the nearest ICICI bank branch with all relevant documents like identity proof, address proof, loan documents and others

• The request letter signed by the loan applicant should also be carried

• Make the payment of the remaining debt by cash/cheque/draft/online methods

This is the process for offline preclosure of personal loan. I am not very sure of how to preclose ICICI personal loan online but can share the process as mentioned by my friend here:

• Visit the

  official website of ICICI

• Log in with your credentials next

• Tap on the Preclosure of Personal Loan option

• Make the payment and you will be able to pre-close the loan

For more information, you can always seek the advice of a bank official but I hope these details have given you some idea about the online and offline methods for the preclosure of a personal loan.

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Shifa B

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Hello there, I can help you learn the ICICI personal loan pre-closure online. I looked up the process when I wanted to pre-close my loan, but couldn’t find any online process. So, in that case, I looked up the offline process and got the preclosure done successfully. I am sharing the same below to help you out.

How can I Close Personal Loan Early ICICI?

Here is how you can pre-close your personal loan at the ICICI Bank.

1. You first need to go to your nearest ICICI Bank branch. While you do so, take important documents, like your Aadhar card or PAN card, passbook, loan statement and a DD or a cheque.

2. Now, you need to pay a pre-closure fee, also called the foreclosure fee. This charge is 3% of the outstanding principal amount of your personal loan plus GST.

3. Take a pre-closure form and fill it correctly with all the details.

4. Once you submit the form, the bank official will process the pre-closure of your personal loan. The information related to the clearance of your loan will be mentioned in an acknowledgement slip or a letter from the ICICI Bank.

If you still face any difficulty, you can contact ICICI Bank’s customer care service on 18001080. Apart from this, you can also register a

.

This is all I have to share related to the ICICI personal loan pre closure online. Have a good day.

Some related information:How to Foreclose a LIC HFL Loan?

Nirved

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My uncle obtained a personal loan from ICICI Bank for five years to do his daughter's wedding. He wished to preclose his ICICI personal loan, though, to lessen his debt load. He therefore asked me to check the procedures and ICICI Personal Loan Preclosure Charges. When I contacted the branch manager, he informed me that personal loans can be closed at any time following the payment of the first EMI and that the related fees would be 3% plus any applicable taxes. He also informed me of the simplest procedures for preclosing a loan. To learn more, keep reading.

How to foreclose ICICI personal loan online?

The process to preclose your ICICI personal loan was already mentioned by Arpita C, but it was a little unclear to me. I then took the following actions that my bank manager advised:

• Visit the closest branch of your bank.

• Carry all the required documents, such as identification and address proof such as an Aadhaar or PAN card, the loan statement, a passbook, and a cheque or demand draft.

• Pay a pre-closure fee or penalty for paying off the loan early.

• Obtain a pre-closure form, which you must accurately complete with all of your information.

• The bank representative will close the personal loan. The details of the loan clearance will then be included in an acknowledgment slip or letter that you will receive from the bank.

You can log in to

via User ID or Registered Mobile Number to get the prepayment statement of your personal loan.

I was able to close my uncle's personal loan by using the aforementioned procedure. Preclosing a personal loan can give you more financial flexibility and peace of mind. I hope you got an idea of how to close ICICI personal loan.

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Arpita C

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Taking loans to fulfill a task or dream is absolutely fine and the hassle-free processes available in the bank has indeed encouraged their customers to opt for loans. One can avail loan anytime and can even repay it whenever possible easily. My mother availed ICICI personal loan a few years back and was supposed to repay it within 8 years but things got better and she opted for ICICI Personal Loan Preclosure. There are some terms and conditions that need to be fulfilled to opt for this process so if you too are planning to pre-close your loan, let me share some details that you need to know.

What are the criteria to preclosing your personal loan?

• Preclosure of ICICI personal loan gets allowed anytime during the loan period but the person must have paid at least 1 installment

• The borrower will have to pay the remaining amount and also other applicable charges

• The borrower also has to pay 3% of the loan amount that is remaining after the payment of the EMIs along with some taxes before closing the loan as preclosing charges.

What is the preclose ICICI personal loan process?

• If you want to do it offline, just ask the preclosure statement from the ICICI bank

• Provide all the required documents mentioned on the document along with it

• Pay the pending amount via cash, cheque or demand draft

• Submit a request regarding the same

• Collect the acknowledgement receipt for it

If you want to know

how to preclose ICICI personal loan online follow the steps:

• Visit ICICI official website or click on

• Click on Request for Foreclosure Statement Personal Loan Page

• Login using your credentials

• Provide your personal loan account number against Loan Account Number

• Select a relevant reason

• Select the city where you live

• Provide details like mobile number, email ID and more

• Read the Terms and Conditions and then click on “Submit”

The ICICI personal loan preclosure process is simple and I hope I have been able to make you understand it here.

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