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 ICICI Car Loans, Car Finance
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ICICI Bank Car Loans help you realize your dream of owning a car of your own. ICICI Car Loans are available for both new cars as well as used cars (upto 10 years old at the time of maturity of the loan term) for a period of upto 7 years for re-payment. The details of a car loan by ICCI Bank India
Loan Amount:
For New Cars:
Up to 100% of the 'on road' cost on select car models and a loan of up to 95 % on the 'ex-showroom price' with a minimum loan amount limit of Rs. 1,00,000
For a Used Car:
Up to 90% of the valuation amount of the car with a minimum loan amount limit of Rs. 75,000 |
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Loan Eligibility::
Age:The minimum age for application for an ICICI Car Loan is 21 years at the time of application and the maximum age at the time of maturity of the loan is 60 years for salaried individuals and 65 years for self-employed. For Private or public ltd. Companies the existence limit is a minimum of 2 years.
Income:
Annual incomes of the loan applicant should be above Rs. 1 lakh for salaried individuals, Rs. 60,000 for self employed, Rs. 60, 000 PAT (Profit After Tax) income for Partnership Firms and Private or Public Ltd. Cos.
Loan Application Procedure:: ICICI Bank Car Loans have been made easier and quicker by reduction the documentations that were mandatory earlier. Now you can receive loans within 2 hours of the submission of all the post-sanction documents. ICICI Bank offers various channels for you to apply for a car finance scheme. You can either apply online through their website (link to which is provided below) or email or call ICICI Bank Customer Care to meet an ICICI representative to brief you on the available options or you can also visit your nearest ICICI Bank branch or SMS the request to ICICI Bank.
Re-Payments:
The tenure of repayment of ICICI Bank Car Loans is available as 1 to up to 7 years. The due dates for monthly payments are 5th and 10th of every month. The repayment channels accepted by ICICI Bank include post-dated cheques, direct debit mandates (for ICICI bank account holders), and ECS (available in select cities). ICICI Bank does not accept cash or credit card payments for car loans repayments. A charge of Rs. 250 is charged per bounced Cheque.
Pre-Payment:
A full pre-payment of an ICICI Bank Car Loan is acceptable whereas part-pre-payment is not allowed. The charges for pre-payment of your car loan include 5% pre-payment fee on outstanding principal amount along with the applicable service charges.
Car Overdraft:
It is a facility to covert your existing car into a. ICICI Bank Current account by availing an overdraft of up to 90% of the net assessed value of your car. The interest is charged only on the funds withdrawn and only a minimum of 5% of the utilized amount without any hassles of a fixed EMI.
On this website we provide you many dedicated pages on other ICICI Bank Banking Services and other products from the bag of ICICI. For further info on ICICI bank car finance schemes, you can call up their customer service centres or login to their website.
Website: http://www.icicibank.com/
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