ICICI Bank

ICICI Bank

Overview

Turn your dream into reality. Own that new car you have always desired, with a little help from ICICI. The bank offer cars loans up to 90% of the ex-showroom price of the car. Its interest rates would pleasantly surprise you. What's more, you can take up to 5 years to repay the loan. ICICI Bank offers new car loans with fixed rate option only.

Turn your dream into reality. Own that new car you have always desired, with a little help from ICICI. The bank offer cars loans up to 90% of the ex-showroom price of the car. Its interest rates would pleasantly surprise you. What's more, you can take up to 5 years to repay the loan. ICICI Bank offers new car loans with fixed rate option only.

Loan Feature

Loan Amount 90% of ex-showroom price
Interest Rate 11.5% to 16.5%
Tenure Up to 5 Years
Pre Payment Charges Lower of the two amount : 5% on the principal outstanding or Interest outstanding for unexpired period of the loan.
Service Charges

Loan Processing Fees

New Car

Gross Loan Amt Processing Fee Amt Documentation Charges
<2.5 L
Rs.2500/-
Rs.350/-
2.5 L to 3.9 L
Rs.3500/-
Rs.350/-
4 L to 4.9 L
Rs.4000/-
Rs.350/-
5 L to 5.9 L
Rs.4200/-
Rs.350/-
>10 L Rs.5000/- Rs.350/-

Eligibility Criteria : Car Loan

  Salaried Self
Age 25 years to 58 years at the time of maturity of the loan 28 years to 65 years at the time of maturity of the loan/At least 3 years of company existance
Income Gross annual salary of at least Rs. 2.5 lac per annum Gross annual income of at least Rs. 2 lac per annum; Firm should have a minimum PAT (profit after tax) of Rs. 1.25 lakhs
Job Experience The total employment stability should be more than 2 years and current employment stability of minimum 1 year Business stability should be more than 3 years
Residence Proof Information Not Available Information Not Available

Docs Required : Car Loan

  Salaried Self
ID Proof Passport Copy/ Voters ID card/ Driving Licence/Copy of PAN Card Passport Copy/ Voters ID card/ Driving Licence/Copy of PAN Card
Address Proof Ration card/Driving licence/Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy PAN Card. Ration card Tel/Elect. Bill/ Rental agr. / Passport copy/Trade licence /Est./Sales Tax certificate
DOB Proof Birth Certificate or 10th Class Passing Certificate Birth Certificate or 10th Class Passing Certificate
Financial Docs

Salaried Individual:

  • Latest Salary slip or salary certificate.
  • 2 Years Form 16 of the previous Financial Year or latest Income Tax Returns.
  • Signature Proof

Self Employed Individual:

  • Income Tax Returns of 2 previous financial years.
  • Partnership Firms, Societies & Companies : Income Tax Returns of 2 previous financial years along with Profit & Loss Account Statements and Balance Sheets of both years.
  • Signature Proof
  • Partnership Firms: Partnership deed and Letter signed by all partners authorizing one partner to execute the required Car Loan.
  • Societies and Companies: Resolution by Board of Directors (or such managing body) & Memorandum & Articles of Association (or Society/Trust deed).

Other Charges : Car Loan

Noc to Convert from private to commercial or commercial to private registration Rs.2000/-
Charges for late payment (loans) 2% per month of the outstanding installment
Cheque Swap Charges Rs. 500/-
Stamp Duty At Actual
Cheque Return charges Rs. 400/-
Amortization Schedule Charges Rs. 200/-
Statement of Account Charges Rs. 200/-
Foreclosure Statement Charges Rs. 100/-
Duplicate NOC Charges Rs. 500/-
NOC for conversion from Petrol to LPG/CNG Rs. 500/-
Charges for changing from fixed to floating rate of interest NA
Charges for changing from floating to fixed rate of interest 1.75% of principle outstanding

Products offered by ICICI Bank

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