After submitting your documents, if you decide not to avail the loan, inform the bank immediately, either through customer care or your branch, to ensure the cancellation request is registered and your application is voided. But how to cancel personal loan application in ICICI bank? ICICI Bank provides a 15 day “free-look” period from the date of disbursement during which loan cancellation is free-of-cost. After this, a cancellation fee of Rs2,500 plus GST applies.
How to Cancel ICICI Personal Loan Application?
To lodge a cancellation, you can either call customer care, submit a written cancellation request at your branch, or cancel using NetBanking or the iMobile app by raising a Service Request (SR) via “Loan Service Requests”. The SR enables the bank to track and act on your cancellation.
If the loan is disbursed and you wish to reverse it via a personal loan on credit card (PLCC) facility, it can be canceled within 15 days of fund transfer through customer care. This cancellation is subject to reversal rules, such as requiring non-encashment of NEFT credits.
To minimise hassle:
Act fast to remain within the free-look window
Clearly communicate your intent in writing or via recorded channels
Ask for an acknowledgement or SR ticket number
Confirm the credit reversal back to your account.
Keep an eye on your statements afterward to ensure no undue charges were levied and any processing fee is promptly reversed. Cancelling early simplifies matters and avoids interest accrual or processing fees. This is how to cancel personal loan application in ICICI bank.
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How To Cancel ICICI Personal Loan Application?
pragati
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6 months
2025-06-17T12:26:54+00:00 2025-07-02T14:03:04+00:00Comment
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