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ICICI Bank New Car Loan
One of the best options for loans for both new and used cars is ICICI Bank. If you want to avoid the inconvenience of going to the branch, ICICI Bank also provides a simple online application procedure for a car loan.Powered By
ICICI Bank New Car Loan
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Here are a few factors
| Location | 50Km from ICICI Branch |
| CIBIL Score | 700+ |
| Loan Amount & Tenure | 1
Lac- No limit (24 Month to 84 Month) |
| Loan to Value(LTV) | 1.100%
on Road Price 2. NIP Customer-80% of on Road Price |
| Type of Funded Vehicle | New Car |
| Rate of Interest & Type | 9.45% to 9.65% (Fixed) |
| Processing Fees | 6844 |
| TAT | Sanction-2
Days Disbursement-3 Days |
| Foreclosure Charges | 4% after 12 month |
| Applicant | Any Salaried or Self Employed Person |
| Applicant Age | 24 to 65 Year |
| Applicant Minimum Income | 1.
Salaried having monthly net Salary>30K 2. Self Employed Person having ITR>2.50 Lac |
| Business Vintage for Self Employed Applicant | 3 Year |
| Minimum Job Experience for Salaried Applicant | 3 Year with 1 year continuity with Current Employer |
| Whether Co-Applicant Mandatory | Yes if Applicant is Partnership Firm/LLP/Society/Company |
| Part Payment Allowed | Yes, after 12 month |
| Product | 1.
Assessed Income- Upto 20 Lac (Banking Base) 2. ITR Base- 6 time of Last ITR 3.Salary Base- 3 time of Annual Salary |
| Negative Profile | Police, Advocate , Minus 1 Applicant |
| USP | 1.Loan
to Both Side Rented applicant 2. Funding to applicant having No Income Proof 3. Funding upto 6 time of ITR or 3 time of Annual Salary 4. Funding to NRI Applicant |
Required Documents to Apply for ICICI Bank Car Loan
Salaried Person
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KYC of applicant
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Last 3 Month Salary Slip
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Last 12 month Bank Statement of applicant
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Last 3 year ITR with computation of income of applicant or Last 2 Year Form 16 of applicant
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26AS of last 2 year of applicant
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Quotation of Car
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Latest Utility Bill of co-borrower if Owned premises else rent agreement if rentedSanction letter of all running loan
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Latest utility Bill if owned residence or rent agreement if rented
Self Employed
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KYC of applicant & Co-Applicant
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KYC of Co-BorrowerLast 3 year ITR with computation of income of applicant & co-applicant
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Last 3 year audited balance sheet of applicant
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Last 3 year Tax audit report of applicant
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Last 12 month Bank Statement of applicant & co-applicant
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Copy of Last 12 month GST return if applicable
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Quotation of Car
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Sanction letter of all running loan
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Latest utility Bill of residence if owned or rent agreement if rented
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Latest utility Bill of Office if owned or rent agreement if rented
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List of Directors & Shareholders, if applicant if Company or List of Partners if applicant is Partnership firm/LLP
About ICICI Bank New Car Loan
Are you ready to feel the delight of riding in your dream car? ICICI Bank has made it very easy to understand that having a new car is more than simply an asset; it's an exciting and straightforward decision. That's why the ICICI Bank New Car Loan is designed to put you in ownership of your dream vehicle.
ICICI Bank is your partner in making your car ownership ambitions a reality, with a record of trust, inventiveness, and superiority in banking services. They offer a hassle-free and flexible financing solution that combines affordable interest rates, speedy approval, and expert help that will make your car-buying process as easy and joyful as possible.
Save Your Time with a Simple Loan Process
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, you will receive your loan amount shortly.
FREQUENTLY ASKED QUESTIONS
You should have 700+ CIBIL Score to be eligible for ICICI Bank new car loan.
No, your interest rate is unaffected by partial prepayments. They might, however, lessen the quantity of EMIs that are left.
Your chances of receiving reasonable interest rates on your ICICI Bank car loan are increased when you add a co-applicant. Furthermore, a reputable employer may grant you further preference.
Car loans from ICICI Bank have variable payback terms that range from 12 months to 7 years.
Applicants must pay stamp duty, documentation costs, and application processing charges to get an automobile loan from ICICI Bank.
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