ICICI Bank Personal Loan 2022

AFINOZ.COM is an online financial marketplace for customized rate quotes on loans and investment products in India. The company is owned by DS Finworld Pvt. Ltd.

ICICI Bank Personal Loan 2022 Highlights

ICICI Bank Personal Loan: ✔ Easy-to-meet eligibility criteria ✔ Nominal and easy documentation ✔ Low-interest rate ✔ Smooth and hassle-free application process.


If you are dreaming of a vacation, a grand wedding for your daughter, or home renovation and need finances? Then there is no other easy and genuine way of getting the desired money than taking Personal Loan. ICICI Bank personal loans can be taken by salaried individuals, self-employed individuals, and working professionals. ICICI Bank offers personal loans with a flexible tenure, low-interest rates, and a higher loan amount facility, all that a personal loan seeker would want in a personal loan scheme. 

  • Loan offerings to salaried and self-employed both
  • Paperless approval policy
  • Balance transfer and top-up available after 6 EMIs
  • Loan amount starting from ₹25,000 to ₹25 Lakh
  • No collateral required (Unsecured loan)
  • Instant e-approval

    ICICI Bank Personal Loan

ICICI Bank Personal Loan Interest Rates & Charges

What is the Personal Loan Interest Rate in ICICI Bank?
ICICI Bank Personal Loan General -Interest Rates For salaried and self-employed 10.50% p.a. onwards
ICICI Bank Personal Loan Tenure 12 to 72 months
ICICI Bank Personal Loan Processing Fee Up to 2.50% of the total loan amount + service tax
ICICI Bank Personal Loan Prepayment charges 2% of principal outstanding + service tax
Minimum Income For ICICI Bank Personal Loan Rs. 17500 per month
ICICI Bank Personal Loan Amount Up to 25 lakhs
ICICI Bank Personal Loan Repayment
Mode Swap Charges
Rs. 500 per transaction + service tax
Additional Interest on late payment of ICICI Bank Personal Loan 24% per annum
ICICI Bank Personal Loan of Amortisation Schedule Charges Rs. 200 per schedule + service tax
ICICI Bank Personal Loan Statement of Account Charges Rs. 200 per schedule + service tax
ICICI Bank Personal Loan Prepayment/Foreclosure Statement Charges Rs. 100 per schedule + service tax
ICICI Bank Personal Loan Duplicate No Objection Certificate/ No Due Certificate Rs. 500 per NOC + service tax and Rs. 200 per NDC + service tax
ICICI Bank Personal Loan Duplicate Prepayment/Foreclosure Statement Charges Rs. 200 per schedule + service tax
ICICI Bank Personal Loan Loan Cancellation Charges Rs. 3000 + service tax
ICICI Bank Personal Loan EMI Bounce Charges Rs. 400 per bounce + service tax

ICICI Bank Personal Loan Fees and Charges

  • The ICICI Personal Loan Interest Rates start from 10.50% p.a. onwards.
  • The processing fee charged for ICICI personal loan is up to 2.50 % of the loan amount, plus the applicable GST.
  • The prepayment charge for an ICICI Bank personal loan is fixed at 2 % of the principal outstanding, plus GST as applicable.
  • The loan cancellation charge for an ICICI personal loan is Rs 3000 in addition to the applicable GST.
  • The additional interest levied on late payment of an ICICI Bank personal loan is 24% per annum.
  • The ICICI personal loan EMI bounce charge is fixed at Rs 400 plus GST.
  • The ICICI Bank personal loan repayment mode swap charge is Rs 500 + GST.

Apply for ICICI Personal Loan 

ICICI Bank Personal Loan Eligibility Criteria

For getting a personal loan from ICICI Bank, borrower's need to fulfill certain parameters in order to be eligible for a personal loan from ICICI Bank. The eligibility criterion for a salaried individual is different from that of a self-employed individual as follows:

1. ICICI Bank personal loan Eligibility for Salaried Individuals

Age limit 23 - 58 Years
Net salary
  • Minimum monthly income of Rs.17,500 (Rs.25,000 for applicants residing in Mumbai and Delhi
  • Rs.20,000 for applicants residing in Chennai, Hyderabad, Bangalore, Pune, and Kolkata)
Work Experience 2 years
Years in current residence 1 year
Maximum Loan Amount ₹ 50,000 to ₹ 30 Lakh

2. ICICI Bank personal loan Eligibility for Self-employed Individuals

Age limit Minimum 28 years to maximum 65 years
Minimum turnover Rs. 40 lakh for non-professionals; Rs. 15 lakh for professionals; as per audited financials
Minimum profit after tax Rs. 2 lakh for Proprietorship Firm/Self-employed Individuals and Rs. 1 lakh for non-professionals as per audited financials
Business stability self-employed individuals should be in current business for at least 5 years, 3 years for doctors
Existing relation with ICICI bank Minimum 1-year liability relationship

Read More: ICICI Bank Personal Loan Eligibility Criteria

ICICI Bank Personal Loan Document Required

ICICI Bank personal loan is an unsecured loan and therefore, there is no involvement of asset verification in the documentation process. For obtaining the maximum amount of loan, a borrower should produce the following documents according to their business profiles:

List of documents for Salaried Individuals List of documents for Self-Employed Individuals
  • Proof of Identity: Passport / Driving License / Voters ID / PAN Card (anyone)
  • Proof of Residence: Leave and License Agreement / Utility Bill (not more than 3 months old) / Passport (anyone)
  • Latest 3 Months Bank Statement (where salary/income is credited)
  • Salary slips for the last 3 months
  • Passport size photographs.
  • KYC Documents: Proof of Identity; Address Proof; DOB Proof
  • Proof of Residence: Leave and License Agreement / Utility Bill (not more than 3 months old) / Passport (anyone)
  • Income proof (audited financials for the last two years)
  • Latest 6 Months Bank statement
  • Office address proof
  • Proof of residence or office ownership
  • Proof of continuity of business

Feature and Benefits of ICICI Bank Personal Loan

A personal loan from the ICICI bank can be availed at a very low cost and that too in no time, without an obligation of pledging a guarantee or security. A personal loan can serve as a medium to pay for your long-awaited luxury holiday with your family or for a lavish wedding celebration.

Here are some of the unique features of the ICICI Personal Loan:

  • Affordable Rate of Interest – ICICI Bank offers one of the lowest interest rates in the market and ensures the rates will be fixed for a monthly reducing basis during the tenure of the repayment
  • Minimal Documentation – The documentation required by the bank is at a minimum and constitutes of nominal income and residential documents
  • Fast Approval and Quick Disbursal – ICICI Bank claims that in case of an application duly filled and submitted, the bank requires as less as just 3 seconds to disburse the amount
  • Flexible Repayment Tenors – The ICICI Personal Loan comes with flexible repayment options starting from 12 months up to 72 months
  • Easy Repay Structure – ICICI bank allows its customers to schedule their EMI payments through various modes like Post Dated Cheques (PDC), ECS, or auto-debit for automatic payment

Some of the benefits of the ICICI Personal Loan:

  • Personalized Loan Offer: ICICI Bank believes that for variable needs, customers require customized personal loans which will suit their monthly expenses and the repayment period
  • Lowest EMI: ICICI Bank personal loan offers the lowest EMI of ₹ 2,187 on a loan amount of ₹ 1 Lakh, which includes all major fees and charges for the loan approval
  • Low Processing Fees: ICICI Bank levies only 2.50% of the entire loan amount as the processing fee
  • Balance Transfer and Top-up: ICICI Bank provides you an opportunity to transfer your existing high-cost loan to ICICI at a lower rate of interest. A Top-up Loan on an existing loan can also be availed after payment of 6 EMIs for the existing loan

ICICI Personal Loan EMI Calculator

ICICI Bank Personal Loan EMI calculator is one of the simplest and easy to use feature made available to its customers. The formula which is used here includes the processing fees, the anticipated rate of interest, and the tenure for which the amount of loan is to be availed. The ICICI Bank personal loan calculator will ask about the amount you wish to borrow and the total number of months over which the amount is to be repaid, on the basis of this information the calculator will provide various applicable monthly installments varying according to the tenure of the loan repayment.


Amount of ₹ 2,00,000 @ 11.25% Per Annum

Loan Amount

ROI @ 11.25%

Tenure (Months)




₹ 2,00,000

0.009(Effective rate per month)


₹ 2,12,395

₹ 17,699

₹ 12,395

₹ 3,00,000

₹ 3,18,593

₹ 26,549

₹ 18,593

₹ 4,00,000

₹ 4,24,791

₹ 35,399

₹ 24,791

₹ 5,00,000

₹ 5,30,989

₹ 44,249

₹ 30,989

₹ 10,00,000

₹ 10,61,979

₹ 88,498

₹ 61,979




Loan Amount


Tenure (Months)





₹ 2,00,000



₹ 2,12,395

₹ 17,699

₹ 12,395



₹ 2,17,186

₹ 18,098

₹ 17,186



₹ 2,13,517

₹ 17,793

₹ 13,517



₹ 2,16,054

₹ 18,004

₹ 16,054



₹ 2,15,489

₹ 17,957

₹ 15,489



Loan Amount


Tenure (Months)





₹ 5,00,000



₹ 5,60,687

₹ 23,362

₹ 60,687



₹ 5,84,694

₹ 24,362

₹ 84,694



₹ 5,66,283

₹ 23,595

₹ 66,283



₹ 5,78,993

₹ 24,124

₹ 78,993



₹ 5,76,154

₹ 24,006

₹ 76,154

How to Apply for ICICI Personal Loans at Afinoz?

While you do your ICICI Bank personal loan application through Afinoz, you should check the following: -

  • Check your ICICI Bank personal loan eligibility with the personal loan eligibility calculator at Afinoz.com. Simply visit Afinoz.com, fill in a few easy details and get an instant and accurate assessment of your personal loan eligibility.
  • Check your ICICI Bank personal loan EMI with the personal loan EMI calculator at Afinoz.com. This will help you to know the exact amount you need to pay every month towards the repayment of your loan.
  • Check the documentation required for your ICICI Bank personal loan application. Whether you are salaried or self-employed, applying with the proper set of documents will enhance your chances of getting your loan approved in the least possible time.

ICICI Bank Personal Loan Status

With ICICI Bank, one can easily track the status of your personal loan process application by taking a few steps. First, by visiting the online site or the mobile phone application, and log in using your credentials, one needs to enter the application number. Going forward, the page shows the account summary, where one easily tracks the loan application status, thus can know whether the loan has been approved, in-process, or is rejected.

Read More: ICICI Bank Personal Loan Status

ICICI Netbanking

ICICI Bank Personal Loan Balance Transfer

One can easily transfer their outstanding loan balance to the ICICI Bank after subsequent payment of 12 EMIs at your existing bank. After a successful balance transfer, one can avail of lower interest rates on the same. So, minimize your loan burden and enjoy a hassle-free loan journey with ICICI Bank Personal Loan Balance Transfer.

Read More: Personal Loan Balance Transfer

ICICI Bank Personal Loan Customer care

PAN India (Toll-free) – 1860 120 7777

At ICICI Bank, in case you have any queries or you require assistance, get in touch with the bank through a 24X7 toll-free number, where an executive will serve you with all the details and information.

Read More: ICICI Bank Customer Care Number


ICICI Personal Loan Login

At ICICI Bank, one can anytime log in to their respective ICICI Bank personal account by using the credentials such as the mobile number and password. Once logged in, it is very convenient to check out all the activities of your account on the go. Through the app, you can enter your loan account number, or simply scroll through the webpage for all the information regarding your current account status.

ICICI Bank Zonal Offices for Personal Loan Enquiries


Branch Address


JMC House, Opp. Parimal Gardens, Opposite Parimal Garden, Ambawadi, Ahmedabad - 380 006.


Shilp Square, Opposite Himalaya Mall, Drive-In Road, Ahmedabad


13, Sardar Patel, Marg, Civil Lines, Allahabad.


361, M.C International The Mall, Punjab.


Ground Floor, Raghuvir Complex, Opp. District Court, Adalat Road, Aurangabad.


ICICI Bank Towers,1, Commissariat Road, Ground Floor, Bangalore


No.47,5th Cross Road,5thMain, Malleswaram, Bangalore


80-7, Elephant Rock Road, 3rd Block, Jayanagar, Bangalore


Salarpuria House, #496, CMH Road, Indira Nagar Bangalore


No.5, 80 Feet Road, 7th block, Kormangala Bangalore


No 11, 1st Cross, K G Road Extension, Opposite Menaka Theatre, Bangalore


No.1740, 17th Cross, Vijayanagar, Bangalore.




116, Civil Lines, Bareilly, Uttar Pradesh.


Plot No. 11, Zone, II, Alankar Palace Near Pragati Petrol Pump, M. P. Nagar, Bhopal.


OCCF Building, Opposite Sriya Talkies, Unit - III, Bhubaneswar


SCO 9-10-11, Sector 9-D. Chandigarh, Pin Code - 160017.


SCO 485-486, Sector 35C, Chandigarh.


110, Prakash Presidium, Uthamar Gandhi Salai, (Nungambakkam High Road), Chennai.


P.B.No. 1610, Dare House, Annexe 44, Moore Street, Chennai.


459/1, Anna Salai Road, Teynampet, Chennai


A-78, Plot No. 3211, 3rd Avenue, Anna Nagar, Chennai.


7, Bazullah Road, T.Nagar, Chennai.


Cheran Plaza, 1090, Trichy Road, Coimbatore, Pin Code - 641018.


No.16, Shastri Road, Ramnagar, Coimbatore - 641009


Plot No. 1320, Bajrakabati Road, Cuttack


NCR, Plaza,24, New Cantt Road, Hathibarkala, Dehradun, Uttaranchal - 248001


Booth No. 104- 105, District Centre, Sector 16, Faridabad- 121007, Haryana


Plot No.315, Sector 16, Gandhinagar, Gujarat


R- 1/88, Raj Nagar, Ghaziabad, Uttar Pradesh.


K-6 & K-7 + K-12 & KB -12, Qutub Plaza, DLF - Phase - 1, Gurgaon.


1st Floor, Shanti Complex, G S Road, Bhangagarh, Guwahati.


ASL Plaza, Bye-pass Rd, opp. Hosur Bus Stand, Hosur.


Eureka Junction, Travellers Bungalow Road, Hubli.


6-2-1012, TGV Mansions, Opp. Institution of Engineers, Khairatabad, Hyderabad.


3-6-268, opp. Telugu academy. Himayat Nagar, Hyderabad.


7-102/5 & 12, Ground Floor, Sai Enclave, Ajay Chambers, Uppal Road, Habsiguda, Hyderabad.


MIG-69, Dharmareddy Colony, Opposite JNTU, KPHB Colony, Kukkatpally, Hyderabad - 500 072


Malav Parisar, 4 Chhoti Khajrani, A B Road Indore


C-99, Shreeji Towers, Subhash Marg, NearAhimsa Circle, C Scheme, Jaipur


C-2, Saurav Towers, Vaishali Nagar,


A-34, Guru Nanak Marg, Moti Doongri scheme, Tilak Nagar, Raja Park, Jaipur


Bhagwan Mahavir Viklang Sahayta Samiti, Malviya Nagar, Jaipur


Natraj Mansion, Main Road, Bistupur, Jamshedpur


Plot No. 10,11, Refugee Colony (Sindhi Colony), Near Jaljog Circle, Jodhpur


J.S Towers; 16/106 - The Mall


Emgee Square, M.G.Road, Ernakulam, Kochi.


B M Complex, Edappally, Kochi




Ground Floor, VasantPlaza, Rajaram Road, Rajarampuri, Kolhapur


22, R N Mukherjee Road, Kolkata, Pin Code - 700001.


BJ-140, Sector-II, Salt Lake City, Kolkata


2/3, Hindustan Road, Gariahat, Kolkata.


City Centre, 19 Synagogue Street, Brabourne Road Branch, Kolkata.


18, Jhalawal Road, Kota.


Shalimar Tower, 31/54 M.G. Marg, Hazratganj, Lucknow.


S.C.O. 146 / 147, Feroze Gandhi Market, Ludhiana.


31, Melur Main Road, K. K. Nagar, Madurai.


Ground Floor, Indraprastha, Opposite Premnarayan Indernarayan Chowk, Linking Road, Santacruz West, Mumbai.


Reis Magos,


Galleria Shopping Mall,


Kailash Plaza, Final, Plot 355, Vallabh Baug Lane, Opp. Odeon Cinema, Ghatkopar East, Mumbai.


Vishnu Vaibhav, 222, Palm Road, Civil Lines, Nagpur.


Unit no-G- 19, Utility Center, Opposite Rajiv Gandhi Bhavan, Sharanpur Road, Nashik – 422 002.

Navi Mumbai

Shop No 14,15 & 16, Shri Ganesh CHS, Sector 1, Opp. Apna Bazar, Vashi - 400703, Navi Mumbai District

New Delhi

9A, Phelps Building, Inner Circle, Connaught Place, New Delhi

New Delhi

W-57. Greater Kailash, Part-I, New Delhi.

New Delhi

C-17, Local Shopping Centre, Paschimi Marg, Vasant Vihar, New Delhi.

New Delhi

F-11, Preet Vihar, New Delhi-110092

New Delhi

D-949, New Friends Colony, New Delhi.

New Delhi

C24-25, Acharya Niketan, Mayur Vihar, Phase -1, Delhi - 110091.


K-1, Senior Mall, Sector 18, NOIDA- 201301, Uttar Pradesh.


65, Sindur Business Centre, Swami Vivekanand Road, Panaji


Shahi Bhawan Ground Floor Exihibition Road Patna


47, Mission Street, Pondicherry


A-Wing, Shangrila Gardens, Bund Garden Road, Pune


1194/8, Ramchandra Sabhamandap, Ghole Road, Shivaji Nagar, Pune.


Gulmohar Park, Plot 1 A, ITI Road, Aundh, Pune - 411 007.


Krishnakeval Commercial Complex, Main Kondhwa Road, Kondhwa, Pune.


CTS No.809/147, Nayantara, Paranjpe Schemes,


Gore Parisar, Behind Raj Bhavan, Civil Lines, Raipur.


Jai Hind Press annexe, Opp. Shardabaug, Babubhai Shah Marg, Rajkot.


Main Road (near Ratanlal Petrol Pump), Ranchi, Jharkhand


Swarnambigai Plaza, S. F. No. 6/5, Block no. 7, Ward-C, Omalur Main Road, Near Bus Stand, Salem.


Rajwada Chowk, P.O.Box No 2/157/158 , Sangli.


Anjan Shalaka, Lal Bungalow, Athwa Lines, Surat.


Shree Shyam Chambers, Opposite Subjail Ring Road, Surat.


Ground Floor, Om Shopping Complex, Anand Mahal Road, Adajan


Glenmorgan, Veer Savarkar Marg, Panchpakhadi,Thane-400602.


TC.25/2491, M G Road, Pulimoodu, Thiruvananthapuram- 695 001, Kerala

Thrissur / Trichur

Delma Complex, Opp. Co-operative Hospital, Shornur Road, Thrissur




New no - 58, West Boulevard Road, Trichy.


Madhubani, 2-C, Ground Floor, Madhuban, Udaipur, Rajasthan.


Landmark Building, Race Course Circle, Alkapuri, Vadodara, Pin Code - 390007.




Flavours, Near Bhaikaka Statue, Mota Bazar, Vallabh Vidyanagar, Gujarat


Sahara Market, Vapi Silvassa Road, Vapi


D-48/141-A, Ishwar Towers, Luxa Road, Gadowlia, Varanasi.


#40-1-127,128 &129, Murali Chambers, M.G.Road,Vijayawada


47-14-18, Isnar Satyasri Complex, Main Road,Dwarkanagar, Vishakhapatnam.

➤ FAQs

Ques. Why should I opt for ICICI bank while availing a personal loan?

Here are some of the compelling reasons why you should opt for a personal loan for ICICI Bank whenever you need a personal loan- 1. You can use the personal loan ICICI amount pretty much for any purpose. No questions asked! 2. With ICICI online, you can have a flexible personal loan tenure to suit your need, up to 60 months 3. You can opt for fixed personal loan interest rates in ICICI. The ICICI Bank personal loan interest rate will be charged on a monthly reducing basis. 4. You will not be asked to pledge collateral against the personal loan for ICICI Bank 5. With the personal loan ICICI, you may set up multiple options such as auto-debit, PDC, or ECS for automatic payment of EMI on any given month. 6. With ICICI online, you can check your ICICI Bank personal loan status at every stage of the approval process.

Ques. How can I apply for ICICI Bank Personal Loan online?

You can apply for ICICI Bank personal loan online by simply entering your personal and financial details on our website or you can directly contact our team by calling us at 0120-411-0376 or by emailing us at info@afinoz.com.

Ques. What is the minimum and maximum amount of personal loan that I can get with ICICI Bank?

ICICI Bank offers one of the highest quantum of the loan amount to personal loan applicants. Salaried individuals can avail a loan of up Rs. 25 lakhs while self-employed professionals can avail a personal loan of up to Rs. 40 lakhs. ICICI Bank provides personal loan according to the financial requirement of each applicant.

Ques. What is the maximum tenure for which I can avail a personal loan with ICICI Bank?

ICICI Bank offers personal loans with a flexible tenure ranging between 12 to 72 months.

Ques. Are the Personal Loan calculator tools of Afinoz.com free to use?

Yes, Afinoz.com loan calculator tools are completely free to use, as we don’t charge any fee for the services we provide.

Ques. Can I know the EMI amount for my personal loan in advance?

Afinoz.com has a unique EMI calculator tool that offers EMI breakup for all loans by entering the loan amount, tenure and rate of interest. You can compare the EMI for different loan amounts and tenures with our tool and finalize the best-suited plan as per your budget before applying for ICICI bank personal loan.

Ques. What are the other facilities that can be availed through icici online?

In addition to the Personal loan ICICI, you can get the following facilities through ICICI online- 1. ICICI IFSC code- where you can check the IFSC code for ICICI Bank for any branch in India. 2. Personal loan calculator ICICI- You can calculate the amount of personal loan ICICI you can avail 3. ICICI credit card- With ICICI online, you can apply for an ICICI credit card and get instant approval.

Ques. Is my data safe with Afinoz.com?

Absolutely. Afinoz.com does not share data with any third party other than the financial institution you are applying. All data is sent with a high level of encryption making it safe and secure at all times.

Ques. After applying online with Afinoz.com, when will I get the loan amount and how long it will take?

Afinoz.com immediately submits your ICICI personal loan application at your nearest ICICI branch. A representative from us will get in touch with you soon to collect documents like salary certificate, identity proof, etc. On submitting these documents, the bank initiates verification process and checks your CIBIL score and disburses the loan if you are deemed eligible. The process may take 48 to 72 hours.

Ques. What is the pre-closure criterion?

The pre-closure charges are typically low for ICICI Bank when compared to other private banks in India. The bank levies a penalty of 2% on the remaining principal amount on pre-closure of personal loan. Prepayment is possible only after 6 EMIs. Part prepayment is not allowed.

Ques. What is the average processing time for ICICI personal loan?

The bank claims to process applications without guarantee or security requirements within 72 hours of receiving the application.

Ques. Can I have a top-up on existing personal loans?

Yes, you can. Personal loan icici offers top-up facility if you have paid at least 12 EMIs on your existing personal loan for icici bank. With icici online, you can place your request for a top up on your existing Personal loan ICICI.

Ques. What is the importance of CIBIL score in ICICI personal loan applications?

CIBIL score is a standard score, which ICICI Bank and other financial institutions use to determine the creditworthiness of an applicant. The bank will most likely request for your credit profile from CIBIL while processing loan applications. The interest rate and the loan amount are decided after the credit score of the applicant is taken into consideration.

Ques. How much interest is charged by ICICI Bank on a personal loan?

ICICI bank personal loan interest rates today ranges from 10.50% to 18.49% p.a.

➤ Reviews

14 Feb 2021
I'm very happy with the service of afinoz they deal with me nicely, no longer waiting for process for approvals . . Quick loans are available and full support is provided by the experienced team
12 May 2020
I got a good response from 'AFINOZ', as I am in need of the best loan service, they fulfilled my requirements very nicely. I suggest you try 'AFINOZ', you will get the best service here.

➤ News

LIC Housing Finance Q2 results stood at net profit of Rs. 248 crore, falls 69%
22 Oct 2021
LIC Housing Finance’s net profit for the quarter-second fell 69% to Rs. 248 crore as contrasted with Rs. 791 crore in the year-ago term even as per a fall in the net interest income in-between the pandemic-led intervention. The mortgage lender's net interest margin for the quarter dropped by 2% against 2.20% in the June quarter, reflecting a fall in the lending rates. Profit prior to tax fell 69% at Rs. 309 crore across Rs. 1,009 crore.
LegalPay shuts provisional finance transaction
22 Oct 2021
LegalPay, a tech-aimed startup that makes investment in the commercial suits and extends interim finance, has shut a transaction of interim finance of an unrevealed amount to Yashomati Hospitals Private Ltd – going through insolvency. The organization is expecting to fund a dozen such deals across the upcoming 10 to 12 months. The transaction for the hospital was done in less than 3 weeks, it stated. Interim Finance refers to short-term, super-secure lending for 6 to 12 months which is granted to the entities going through insolvency and is taken into usage to pay functional costs of instant requirements like payments to professionals, workers, security personnel, etc.
IIFCL attains approval from RBI for funding InVITs
22 Oct 2021
The state-owned India Infrastructure Finance Company Limited (IIFCL) is in all form to fund the Infrastructure Investment Trusts (InVITs) by adding a new financing avenue for infrastructure projects. The state agency that extends long-term financial facilitation for feasible infrastructure projects has attained approval from the monetary authority of India viz. Reserve Bank of India (RBI) to assist InVITs and will expend around Rs. 4,000 crores in this part in this fiscal, an individual pertaining to the development said.