ICICI Bank Personal Loan Foreclosure Charges (2026)
For eligible personal loans disbursed on or after 1 January 2026, ICICI Bank's published schedule lists a 3% charge plus applicable taxes within 24 months and nil after 24 months. It also lists part-payment any number of times, with a charge within the first 24 months and nil after. Older loans may follow different sanction terms; request a dated quote.
ICICI Bank personal loan foreclosure charges at a glance
| Foreclosure charge | 3% + GST within 24 months; 0% after 24 months |
|---|---|
| Part-prepayment | The current schedule lists part-payment any number of times: 3% plus applicable taxes on the amount prepaid within 24 months of disbursal, and nil after 24 months, for eligible loans disbursed on or after 1 January 2026. |
| Lock-in / when allowed | The current schedule ties the charge to time since disbursement. Request a dated quote; terms for loans disbursed before 1 January 2026 may differ. |
| Official fee schedule | ICICI Bank Personal Loan — Service Charges · verified 2026-10-06 |
Charge breakdown
- 3% plus applicable taxes on principal outstanding if closed within 24 months of disbursal (loans disbursed on or after 1 January 2026)
- 0% after 24 months of seasoning
- Loans disbursed before 1 January 2026 follow the charge schedule in their sanction terms (up to 5% on some older loans)
Check the current RBI rule for your lender[RBI Master Directions index]
RBI prepayment-charge instructions are set out in lender-category-specific Master Directions. For covered floating-rate loans to individuals for non-business purposes, charge eligibility depends on the applicable direction, loan dates, and rate type on the prepayment date. Check the direction for your lender and your loan documents.
The standalone RBI prepayment notification issued in 2025 has been withdrawn. Prepayment-charge instructions are set out in lender-category-specific Master Directions. Find the direction for your lender and check its scope against the sanction or renewal date, borrower type, loan purpose, rate type, and loan documents.
Waivers & exceptions
- 0% foreclosure charge after 24 months of seasoning (loans disbursed on or after 1 Jan 2026).
- 0% part-payment charge after 24 months of disbursal.
How to foreclose a ICICI Bank personal loan
Request the foreclosure statement via iMobile/Customer Care (delivered by email in 3–5 working days), pay the quoted amount, collect the NOC.
How to compare a foreclosure quote
Request the lender's dated closure quote and compare it with the future payments under your current schedule. A simple estimate is (scheduled EMI × remaining payments) − current principal, but it assumes the EMI and rate stay unchanged and excludes other fees or insurance. Include all quoted charges and taxes, and consider the value of keeping the cash available. This arithmetic is a screening estimate, not a substitute for the lender's settlement figure.
Worked example
Suppose 12 scheduled EMIs of ₹45,000 remain. Those payments total ₹5,40,000. If the lender's dated closure quote, including applicable charges and taxes, is ₹5,10,000, the nominal cash outflow difference is ₹30,000.
This is only a screening comparison: it does not account for the time value of cash, insurance refunds, or other costs that are not included in the quote.
Related tools & guides
Sources & References
Legal basis: RBI (Pre-payment Charges on Loans) Directions, 2025 (issued 2 July 2025, applicable to loans sanctioned or renewed on or after 1 January 2026); individual bank fee schedules as published.
Official sources
Last verified against official sources: July 2026. Figures are researched from the government sources above and checked before publishing. See our Editorial & Verification Policy.
This page is for informational and educational purposes only. Charges are researched from the lender's published fee schedule and can change at the lender's discretion — always confirm against your sanction letter and the bank's current schedule before acting. This is not financial advice.
Frequently Asked Questions
What is the ICICI Bank personal loan foreclosure charge in 2026?
For eligible personal loans disbursed on or after 1 January 2026, the published schedule lists 3% plus applicable taxes on principal outstanding within 24 months and nil after 24 months. Older loans follow their sanction terms; request a dated quote.
Can I part-prepay an ICICI Bank personal loan?
Yes. For eligible loans disbursed on or after 1 January 2026, the published schedule allows part-payment any number of times: 3% plus applicable taxes on the amount prepaid within 24 months and nil after 24 months. Older loans may have different terms.
When can I get an ICICI personal loan foreclosure statement?
The foreclosure statement is issued only after 180 days (6 months) from disbursal. Request it via iMobile or customer care; it arrives by email within 3–5 working days.
Is ICICI personal loan foreclosure ever free?
The published schedule lists nil charges after 24 months for eligible loans disbursed on or after 1 January 2026. Separately, the RBI Directions prohibit charges on qualifying floating-rate loans to individuals for non-business purposes sanctioned or renewed on or after that date. Check your loan's date, rate type, purpose, and agreement.