ICICI Car Loan

Turn your dream into reality. Own that new car you have always desired, with a little help from us. We offer loans up to 90% of the ex-showroom price of the car. Our interest rates would pleasantly surprise you. What's more, you can take up to 5 years to repay the loan.

Worried about paperwork? Relax. The process for getting a loan involves only a few simple steps and we will tailor-make the loan to suit your needs.

Pick your choice.

• Loan on the Strength of Your Income: Submit income proofs as required and avail finance up to 90% of the ex-showroom price of the car.*
  
• Car Loans with Fixed Interest Rates: ICICI Bank offers new car loans with fixed rate option only.
  

Disclaimer:
"ICICI Bank may, at its sole discretion, utilise the services of external service provider/s or agent/s and on such terms as required or necessary, in relation to its products".
* conditions apply

 

Factors affecting your Car Loan Amount

Car Loans from ICICI Bank are extremely convenient, flexible and quick. With more than 1,000 channel partners in over 200 locations, we reach out to millions of customers and help them realise their dream of possessing a car.

The minimum loan amount for taking a new car loan is Rs. 1,00,000. The maximum loan amount will depend upon the price of the car, model variant, profile of the customer, etc.

New car

• We finance up to 90% of the ex-showroom price of the car.
  
• The Loan amount also depends on the car model. Higher loan amounts are available under specific enhanced income eligibility criteria.
  
  
  Service Charges
  If you are looking for flexible schemes, quick processing of your loans, attractive interest rates at the click of a mouse, then your search ends here. ICICI Bank Car Loans is the Most Preferred Financier for car loans in the country and offers you all the above with unbelievable ease.
  Our car loan interest charges differ according to the car model, the tenure of the loan, the customer and his location.
  
  

  Description of Charges	Car Loans
  Loan Processing Fees	New Car Gross Loan Amt Processing Fee Amt Documentation Charges <2.5 L Rs.2500/- Rs.350/- 2.5 L to 5 L Rs.3100/- Rs.350/- 5 L to 10 L Rs.4000/- Rs.350/- >10 L Rs.5000/- Rs.350/-
  Stamp Duty	Actuals
  Prepayment Charges	Lower of the two amount given below. 1. 5% of principal outstanding or 2. Interest outstanding for unexpired period of the loan.
  Charges for late payment (loans)	2% per month on the outstanding installment
  Cheque Swap Charges	Rs. 500/- per transaction
  Cheque return charges^	Rs. 400/- per return
  Amortisation Schedule Charges	Rs. 200/- per schedule
  Statement of Account Charges	Rs. 200/- per statement
  Prepayment Statement Charges	Rs. 100/- per statement
  Duplicate NOC Charges	Rs. 500/- per NOC
  NOC for conversion from Petrol to LPG/CNG	Rs. 500/- per NOC
  Revalidation of NOC Charges	Rs. 500/- per NOC
  NOC to convert from Private to Commercial Registration	Rs. 2000/- per NOC
  NOC to convert from Commercial to Private Registration	Rs. 2000/- per NOC

  Note :
  

  • Service Tax and other govt. taxes, levies, etc. applicable as per prevailing rate may be charged over and above these charges at the discretion of ICICI Bank.
  • The charges or fees given in above table are subject to change and the one recorded in agreement will be binding over this site.
  • Effective for loans availed from August 10th, 2009. For loans availed prior to the said date, the cheque return charge is Rs 200.
     
     
     
     

    At ICICI  Bank  Car  Loans, we offer  the most  convenient, flexible & quick car loan at the  click of a  mouse. Keeping  your convenience in mind, we ask you for minimal  mandatory  documents for the sanctioning of your car loan.

    
    
    

    Income proof:

    Salaried individuals - Last 3 month's salary slip and Form 16/Income tax return of last 2 years.

    Self-Employed individuals:

    Income Tax Returns of 2 previous financial years.

    Partnership Firms, Societies & Companies :

    Income Tax returns of 2 previous financial years along with complete financial/audit report.

    Documents supporting customer information :

    Identity Proof, Signature Proof and Address Proofs as per ICICI Bank norms (Our representative will help you choose suitable documents).

    Other documents:

    Partnership Firms: Partnership deed and Letter signed by all partners authorising one partner to execute the required Car Loans documentation. Societies and Companies: Resolution by Board of Directors (or such managing body) & Memorandum & Articles of Association (or Society/Trust deed). Our representative will help you with the formats of documents and the information required.