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ICICI Car Loan


Loan Name Interest Rate Processing Fee Loan Amount Tenure
ICICI Bank Car Loan 8.65% - 18.00%, Fixed 3,500 up to 100% of show room price of the new car 7 Years
Details
Documents Required

For Salaried Employees

  • Proof of Identity: Passport, Aadhaar Card, Election Identification Card, Driving License, PAN Card
  • Proof of Residence: Ration Card, Driving License, Aadhaar Card, Passport Copy, Election Identification Card, Passport, Electricity Bill, Telephone Bill, Life Insurance Policy
  • Signature Verification
  • Recent Bank statement for the last 6 months
  • Proof of Income: Recent salary slip and Form 16
  • Employment stability proof

For Self Employed Professionals

  • Proof of Identity: Passport, Aadhaar Card, Election Identification Card, Driving License, PAN Card
  • Proof of Residence: Ration Card, Driving License, Aadhaar Card, Passport Copy, Election Identification Card, Passport, Electricity Bill, Telephone Bill, Shop & Establishment Act Certificate, SSI Registered Certificate, Sales Tax Certificate
  • Recent Bank statement for the last 6 months
  • Proof of Income: Profit and Loss Account for the previous 2 years, Audited Balance Sheet, Company Income Tax Returns for the last 2 years
  • Signature Verification
  • Business Stability proof or ownership proof

For Self -employed Non Professionals

  • Duly filled in application form along with recent photographs
  • Proof of Identity: Passport, Aadhaar Card, Election Identification Card, Driving License, PAN Card
  • Proof of Residence: Ration Card, Driving License, Aadhaar Card, Passport Copy, Election Identification Card, Passport, Electricity Bill, Telephone Bill, Life Insurance Policy
  • Signature Verification
  • Proof of Income: Profit and Loss Account for the previous 2 years, Audited Balance Sheet, Company Income Tax Returns for the last 2 years
  • Business stability proof or ownership proof
  • Partnership deed and letter signed by all partners authorizing one partner
  • Companies and Societies – Resolution by Board of Directors and Memorandum and Articles of Association
Benefits

  • Flexible schemes
  • Quick processing of car loans
  • Attractive Interest rates
  • Low documentation charges
  • Part Prepayment facility is available for salaried applicants
Eligibility

  • Minimum age of the applicant should be 23 years
  • Maximum age of the applicant is 70 years
  • The applicant can either be a salaried employee of self-employed with a regular source of income
  • The applicant should have a regular monthly income
  • Income of the applicant
  • Educational Qualification
Other Details

  • The loan is available up to 100% of the on-road price of the vehicle
  • Pre-approved and pre-qualified car loans are available for the existing customers
  • The tenure of the loan is spread up to 7 years
  • Processing fee depends on the loan amount and ranges between Rs 3,500 – Rs 8,500

 FAQs

Q: What are the documents required to avail the car loan from ICICI bank?

A: ICICI bank offers car loans up to 100% of the on-road price with attractive interest rates and the required documents are listed below:

  • KYC: Identity proof, Residential proof, Age proof and photographs.
  • Latest bank statement from the last 6 months.
  • If you are a salaried employee then salary payslips and Form 16 are required.
  • For self-employed applicants, IT returns and the business proof is required to avail the car loan from ICICI bank.

Q: What are the types of cars that ICICI Bank finance for customers?

A: ICICI Bank offering a car loan for all types of passenger cars along with pre-owned cars and used cars.

Q: Does ICICI Bank provide the joint application facility to car loan borrowers?

A: Yes, joint applications can be done for an ICICI Bank car loans by customers along with their spouses or any family member from the same residential address.

Q: What are the charges that customer has to pay to avail the car loan from the ICICI bank?

A: Customers have to pay stamp duty, documentation charges and application processing charges to avail a car loan from ICICI bank.

Q: Does ICICI Bank provide top-up loans for existing car loan customers?

A: Yes, ICICI Bank provides top-up loan facilities for existing car loan customers with quick processing and easy documentation.

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