ICICI Car Loan Key Features
| ICICI Car Loan Interest Rate | 7.35%* per annum |
| Min Loan Amount | ₹ 1,00,000 |
| Max Loan Amount (Loan to Value) |
Loan up to 80% of On Road Price or 100% of Ex-showroom Price |
| Loan Tenure | Up to 7 Years |
| Lowest EMI / Lac | ₹ 1,624 |
| Minimum Net Monthly Income | ₹ 20,000 |
| Minimum ITR for Self Employed | ₹ 2,00,000 |
| Age Criteria | Salaried: 18 years to 65 years Self Employed: 18 years to 65 years |
| Types of Cars | For All New Passenger Cars, Multi Utility Vehicles (MUVs) and Sport Utility Vehicle (SUVs). |
| Processing Fee | Starting from Rs.3,500 |
| Foreclosure Charges | Up to 5% |
| Basic Documentation | Car quotation, Salary Slip, ID Proof, Address Proof and Bank Statement |
About ICICI Car Loan
ICICI Bank formed 26 years ago in 1994 with registered office in Vadodra, Gujrat and Corporate office in Mumbai, Maharashtra.
ICICI Banks stands in the Big Four Banks In India with subsidiaries in the UK and Canada with branches present in more than eight countries.
ICICI Bank has more than ten subsidiaries present across the nation and has more than 85,000 employees.
ICICI Bank provides Car loans to its customers for fulfilling their dream of buying their car with reasonable Rate of Interests.
Advantages of ICICI Car Loan
ICICI Car Loan Eligibility
| Salaried Individual |
|
| Self-Employed Individuals |
|
| Self-Employed Non-Individuals (Company/Partnership) |
|
| Priority Customers |
|
ICICI Car Loan Interest Rate, Fees and Charges
| Charges | New Car Loan | Used Car Loan |
| Interest Rate | 7.35% p.a. to 11.30% p.a. | 14.80% p.a. to 16.80% p.a. |
| Processing fee | Rs.3,500 to Rs.8,500 | From Rs. 8500 |
| Issuance of Duplicate Repayment Schedule Charges | From Rs.550 | From Rs.550 |
| Foreclosure Charges | 5% of the principal outstanding | 5% of the principal outstanding |
| Penal Interest | Not applicable | Not applicable |
| Part Payment charges | 5% of the paid amount | 5% of the paid amount |
| Cheque/Instrument Swap Charge | From Rs.550 | From Rs.550 |
| Documentation Charge | From Rs.550 + GST | From Rs.550 + GST |
| Issuance of Duplicate No Dues Certificate Charges | From Rs.450 | From Rs.450 |
| Registration Certification Collection Charge | From Rs.450 | From Rs.450 |
| Cheque Bounce/Instrument Return Charges | From Rs.550 | From Rs.550 |
| Issuance of Duplicate Statement Charges | From Rs.550 | From Rs.550 |
| Loan Cancellation/Re-booking Charges | 5% + GST | 5% + GST |
| Issuance of Credit Report | From Rs.100 | From Rs.100 |
ICICI Car Loan Documents Required
Salaried Individual
| Category | Documents Required |
| Identity Proof
(Any 1) |
Voter ID PAN Card Aadhar Card Passport |
| Address Proof
(Any 1) |
Electricity Bill Aadhar Card Driving License |
| Date of Birth Proof
(Any 1) |
Birth Certificate Aadhar card High School Marksheet |
| Signature Proof
(Any 1) |
Banker’s Verification Passport |
| Income Proof | Latest Form 16 and Salary Slips |
| Bank Statement | Bank statement of last three months |
| Employment Continuity Proof | Work Experience Certificate ITR of Form 16 Salary Slip with Joining Date Appointment Letter Letter of Relieving |
Self-Employed Individuals
| Category | Documents Required |
| Identity Proof (Any 1) | Aadhar card PAN Card Passport |
| Address Proof (Any 1) | Electricity Bill Rent Agreement Utility Bill Driving License |
| Date of Birth Proof (Any 1) | Birth Certificate Passport High school Mark Sheet Driving Licence |
| Signature Proof (Any 1) | Bankers Verification PAN |
| Income Proof | Form 16 and Salary Slips |
| Bank Statement | Bank statement of the previous three months |
| Employment Continuity Proof | Current Account Statement Shop & Establishment Act Certificate Sales Tax or VAT Certificate SSI or MSME Registration Certificate Sales Tax or VAT Certificate |
| Business Proof | Shop & Establishment Act Certificate Telephone Bill/Electricity Bill SSI or MSME Registration Certificate Registered Lease Document and utility bills of the same |
Self-Employed Non-Individuals:
1. Partnership Firms/Societies
| Category | Documents Required |
| Identity Proof (Any 1) | PAN Card Aadhar Card Passport |
| Address Proof (Any 1) | Passport Driving License Electricity Bill |
| Income Proof | P&L Account and ITR for at least last 2 Years Balance Sheet Audited |
| Bank Statement | Bank statement of the previous two months at least |
| Business Continuity Proof | Shop & Establishment Act Certificate Current Account Statement SSI or MSME Registration Certificate Sales Tax or VAT Certificate |
| Additional documents | Authority Letter/PAN cards |
2. Private Limited/Limited Companies
| Category | Documents Required |
| Identity Proof | Copy of Latest MOA Copy of Incorporation Copy of Latest AOA |
| Address Proof (Any 1) |
Current Account Statement
Telephone Bill Electricity Bill Shop & Establishment Act Certificate SSI or MSME Registration Certificate Sales Tax or VAT Certificate Registered Lease Document with other utility bills |
| Income Proof | Audited Balance Sheet P&L Account and ITR for the previous two years |
| Bank Statement | Bank statement of last three months |
| Business Continuity Proof | SSI or MSME Registration Certificate Shop & Establishment Act Certificate Sales Tax or VAT Certificate Current Account Statement |
| Additional documents |
PAN Card
List of Directors and Shareholding Partners Board Resolution Certificate of Commencement of Business for Ltd. Co. |
ICICI Car Loan EMI Calculator
Know your EMI even before being sanctioned for the loan by using EMI Calculator provided below:
ICICI Car Loan Types
ICICI Bank provides an extended range of loans to choose from depending on your needs; some of them are:
- New Car Loan – Provides credit to the applicant who is willing to buy a brand new car and gives the tenure of as long as seven years.
- Used Car Loan – You can buy any used car with all necessary documents using ICICI used car loan with a tenure of 5 years.
- Loan Against Car – Use your car as security and get a loan against it for quickly allocating essential funds.
ICICI Car Loan Pre Calculated EMI
How to Apply for ICICI Car Loan?
- Go on to Dialabank and fill the form with your details.
- Get free guidance from our well-trained Relationship Manager towards your loan.
- Get to choose from various options available in the market.
- Dialabank provides the best deal on Car Loans based on your personal needs.
ICICI Car Loan for Top Selling Cars
Other Available Products from ICICI
| ICICI Personal Loan | ICICI Gold Loan | ICICI Home Loan |
| ICICI LAP | ICICI TWL | ICICI Business Loan |
FAQs for ICICI Car Loan
✅ What is ICICI Car Loan?
ICICI Car Loan is a financial product of ICICI bank which provides Loan to the customers for purchasing a Car.
✅ How can I get Car Loan from ICICI Bank?
You can apply for Car Loan with ICICI Bank by directly contacting the branch or apply with Dialabank for exciting offers on Car Loan.
✅ How does ICICI Car Loan work?
ICICI Bank provides Loan to applicants willing to purchase a new car and car is the only collateral involved in the process. Monthly EMIs are fixed with interest rates being charged on it.
✅ What is the Car Loan Interest Rate in ICICI?
7.35% Per Annum is the Minimum Rate of Interest charged by the Bank against the loan.
✅ How to Check Car Loan status in ICICI?
You can check your Car Loan status by directly entering your Loan details in “Loan Status” address on ICICI Bank official website. Or contact your ICICI Bank’s Loan Department.
✅ How to Calculate Car Loan Interest in ICICI?
You can easily calculate Interest as well as EMI of your Loan by using Dialabank’s EMI Calculator.
✅ What is the maximum loan amount I can avail on Car Loan from ICICI Bank?
Maximum Loan depends upon the Profile of the applicant and Price/variant of the car. Whereas, you can get a loan up to 100% value of the ex-showroom price.
✅ What is the loan tenure of ICICI Bank Car Loan?
Tenure of ICICI bank car Loan can go up to 7 Years.
✅ Can I get 100% Car Loan from HDFC Bank?
Yes, you can avail 100% Car Loan on the ex-showroom price of the car.
✅How much Processing Fee is applicable on ICICI Car Loan?
Rs.3500 is the basic Processing Fee charged by ICICI Bank on Car Loans.
✅What are the EMI options available on ICICI Bank car loan?
Step-Up EMI and Balloon EMI.
✅What are the charges for Prepayment in ICICI Car Loan?
Up to 5% of the outstanding amount can be charged as Foreclosure Charges on Prepayment of the loan.
✅Can I get a top-up loan on my existing ICICI Bank car loan?
Yes, ICICI Bank provides an option of Top-up Loan on ICICI Bank Car Loan for existing customers.
✅Do I need to provide a guarantor to avail a car loan from ICICI Bank?
No, ICICI Bank Car Loan Doesn’t require any guarantor.
✅How to get the ICICI Car Loan Statement?
Get your Car Loan Statement from ICICI Bank Car Loan portal by logging in to it. Or Get it directly from the branch.
✅How to Pay ICICI Bank Car Loan Interest Online?
Pay your ICICI Bank car Loan online by using Net Banking on ICICI Bank official website.
✅What if I can’t pay the interest on ICICI Car Loan for three months?
The Bank charges around Rs.100 + GST for each EMI not paid on time.
✅How can I apply for EMI Moratorium on ICICI Car Loan?
You can apply for EMI Moratorium by the direct link provided by the Bank through SMS or By visiting ICICI Bank Official Website.
✅What is the number for ICICI Car Loan agent?
Dialabank is the most reliable Car Loan agent of ICICI Bank so Call us at 9878981166.
✅ Can I close ICICI car loan online?
You can initiate the Loan Closure procedure online but have to visit the branch to finish it.
✅ What is ICICI Car Loan Customer Care Number?
Ring us at 9878981166 for any of your questions.
✅ How can I get NOC from ICICI Bank for a car loan?
Follow the following steps to get your NOC online:
> Log in to ICICI Bank’s website with your credentials -> Customer Service -> Service Request -> Product -> Request for NOC.
OR
Visit the nearest ICICI Bank Branch.