ICICI Car Loan

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Buy your dream Car

Rates as low as 7.35%*
Up to 100% Funding
Doorstep Service
Hassle-free Disbursal
Unbiased Experts Advice

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 0.40% of the principal amount
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

ICICI Car Loan Eligibility

Salaried Individual
  • Age – 18-65 years of age
  • Employment Duration – More than one year
  • Income Eligibility – Present Form 16 and Salary Slip
  • Net Monthly Income – should be a minimum ₹ 20,000
Self-Employed Individuals
  • Age – 18-65 years of age
  • Minimum ITR  – Rs. 2 Lakh or more depending on the car variant.
  • Employment Duration – >3 years
  • Income Eligibility – Based on ITR
Self-Employed Non-Individuals (Company/Partnership)
  • Minimum ITR  – Rs.2 Lakhs
  • Employment Duration – A Minimum of 3 years
  • ITR and Audited Documents of Previous 2 Financial Years.
Priority Customers
  • Maximum Loan Amount – 3 X Average Quarterly Balance of Last two quarters
  • Average Quarterly Balance – Minimum Rs.1 lakh for the last two quarters

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 0.40% of the principal amount 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:

Car Loan EMI Calculator

ICICI Car Loan Types

ICICI Bank provides an extended range of loans to choose from depending on your needs; some of them are:

  1. 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.
  2. Used Car Loan – You can buy any used car with all necessary documents using ICICI used car loan with a tenure of 5 years.
  3. 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?

  1. Go on to Dialabank and fill the form with your details.
  2. Get free guidance from our well-trained Relationship Manager towards your loan.
  3. Get to choose from various options available in the market.
  4. 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 Loan Against Property ICICI Two Wheeler Loan 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?

0.40% of the principal amount 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.

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