How to Preclose ICICI Personal Loan?

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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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

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