Owning a car is now becomes easy because many banks have been offering car loan facilities in India. If you have been dreaming to buy a car for a long time, but insufficient funds are hindering you to make your dreams come true, then don’t bother, ICICI bank can help you to own your favorite car that you have always dreamed. In this post, I will be discussing on car loan features of ICICI bank.
ICICI bank offers car loan facility for new cars as well as pre-owned cars (Used certified cars). It offers car loan up to 100 percent ex-showroom price of the car (Ex-showroom price is actually the price of vehicle from the manufacturers to the dealers and it does not includes any statutory taxes and other charges like; insurance, registration charges etc.If you still have shortage of funds then ICICI bank is also offering loan up to 90 percent on road price of the car. Furthermore, the interest rates are very attractive and you can take car loan up to 7 years tenure. Here are some highlights of ICICI car loan facility;
- Quick and hassle free processing of your loan application
- Tenure up to 7 years ( Flexible)
- Less documentation
- Low EMI and down payment
- Loan up to 100 percent ex-showroom price of the car
- Loan up to 90 percent on road price of the car
- Loan up to 80 percent for pre-owned cars
Interest Rates
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Type of Car Loan
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Tenure
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23 Months
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24-35 Months
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36-84 Months
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For New Cars
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12.75%
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12.25%
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10.75%
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For used Cars
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15.50%
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Note: Interest rates may vary.
Basic Documentation
For Salaried Persons:
- 1 recent passport-size color photograph
- Identity proof
- Photocopy of Pan Card
- Residence proof
- Bank statement of last 3 months
- Employment proof of the last two years
- ICICI bank may ask you to produce such other documents
For Self Employed Persons
- 1 recent passport-size color photograph
- Identity proof
- Photocopy of Pan Card
- Residence proof
- Bank statement of last 6 months
- Business stability proof for 3 years
- IT Return for last 2 years
- ICICI bank may ask you to produce such other documents
How to Apply For ICICI Car Loan
Apply through SMS: Type CAR and send it to 5676766.
Apply Online: Visit ICICI bank official website and fill car loan form under car loans section.
Apply through Call: You may call to ICICI customers care number to apply for car loan.
Apply in ICICI bank branch: You may visit your nearest ICICI bank branch to apply for car loan.