ICICI Bank Personal Loan Foreclosure Charges (2026)
For personal loans disbursed on or after 1 January 2026, ICICI Bank charges 3% + GST of the outstanding principal to foreclose within 24 months — and nothing after that. There is no part-prepayment facility on standard personal loans: it is full foreclosure or continue EMIs. Older loans follow the schedule in their sanction terms.
ICICI Bank personal loan foreclosure charges at a glance
| Foreclosure charge | 3% + GST within 24 months; 0% after 24 months |
|---|---|
| Part-prepayment | Part-payment is available any number of times (per Jan 2026 service charge schedule). Charge: 3% + GST on the amount prepaid within 24 months of disbursal; NIL after 24 months. |
| Lock-in / when allowed | Foreclosure statement is issued only after 6 months (180 days) from disbursal; 0% foreclosure charge after 24 EMIs on eligible loans per current schedule (Jan 2026 onwards). |
| Official fee schedule | ICICI Bank Personal Loan — Service Charges · verified 2026-07-04 |
Charge breakdown
- 3% + GST 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)
The RBI 2026 rule: when foreclosure is free by law[RBI Directions 2025]
RBI (Pre-payment Charges on Loans) Directions, 2025: no pre-payment/foreclosure charges on floating-rate loans to individuals for non-business purposes, for loans sanctioned or renewed on or after 1 January 2026. Fixed-rate personal loans remain outside this protection — bank-specific charges apply.
Check your sanction letter: if your ICICI Bank personal loan is floating-rate and was sanctioned or renewed on or after 1 January 2026, the bank cannot charge you anything to prepay or foreclose it. The charges on this page apply to fixed-rate loans — which most personal loans are.
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.
Is foreclosing worth it after the charge?
Compare the remaining interest you would pay by continuing EMIs against the foreclosure charge + GST payable today. Remaining interest = (EMI × months left) − principal outstanding. If the interest saved exceeds the charge, foreclosing saves money.
Worked example
₹3,00,000 outstanding at 14% with 24 EMIs left ≈ ₹46,000 future interest. A 4% + GST foreclosure charge costs ≈ ₹14,160.
Net saving from foreclosing today ≈ ₹46,000 − ₹14,160 = ₹31,840 — foreclosure wins comfortably. The closer you are to the end of tenure, the smaller the interest saving, so re-run the numbers before paying the charge.
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 loans disbursed on or after 1 January 2026, 3% + GST on the principal outstanding within 24 months of disbursal, and 0% after 24 months. Older loans follow their sanction terms (up to 5% on some).
Can I part-prepay an ICICI Bank personal loan?
No. ICICI Bank does not offer part-prepayment on standard personal loans — only full foreclosure is available.
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?
Yes — after the published seasoning period (24 months on new loans, or 12 EMIs on eligible schemes) the foreclosure charge drops to 0%. Floating-rate loans sanctioned on or after 1 January 2026 are charge-free by RBI direction.