ICICI Bank applies a penalty charge on your ICICI personal loan in case you miss an EMI payment. This fee will apply to the due amount only. The additional interest is 24.00% per annum, which means 2% on each due payment. If you don’t pay the due amount, the additional interest will keep on increasing with time. Read this page to know more about this additional interest of ICICI Personal Loan. How the ICICI Personal Loan Additional Interest is Calculated? The additional interest is charged based on your due amount. Let’s consider an example to understand its effects. Kavita borrowed…
Author: Isabella Martinez
Isabella Martinez
Isabella Martinez is a creative and driven individual who was born and raised in the vibrant city of Los Angeles, California. From a young age, Isabella demonstrated an interest in the arts and developed a passion for storytelling through various mediums, including writing, photography, and film.
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Banks evaluate your CIBIL score to determine whether or not you are creditworthy and, as a result, whether or not you are eligible for a loan or credit card. Your credit score could affect your ability to meet financial responsibilities. The better your credit score, the more likely you are get a credit card. Your CIBIL score is used to determine the amount of money you can borrow once your loan application is accepted. Out of all the credit ratings, banks use your CIBIL score as a standard. Your creditworthiness for the amount of loan you are requesting from the…