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ICICI Bank Limited Car Loan

ICICI not only provides Loan for personal Vehicles but also for Commercial Transports. The Loan interest basically depends over three criterias-

-Loan Amount

-Loan tenure

-Your salary

Features of ICICI car Loans:

  • Available to both Salaried & Non-Salaried Professionals

  • Available for both New & pre-owned Cars, 100% for new & up to 80% for pre-owned ones

  • 7-year Loan tenure

  • Easy application and documentation, doorstep service available

  • Attractive rate of interest with special relief to ICICI Bank Customers

  • Instant Loan eligibility & EMI calculation and e-approval of Loans are available in the Site itself

The Bank also gives an option to avail Insurance cover for Loan liability which is repayable with the EMI.

Bank Link

http://www.icicibank.com/Personal-Banking/loans/car-loan/index.html
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.
Disclaimer: The Details shown may be different from actual. Please confirm on the bank site before process.

Other Charges

Noc to Convert from private to commercial or commercial to private registration: Rs.2000/-

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

Self
Minimum Age (in yrs.)

28 years to 65 years at the time of maturity of the loan/At least 3 years of company existance
Minimum Income (in Rs.)

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
Minimum Work Experience (yrs.)

Business stability should be more than 3 years
Residence Status (yrs.)

Information Not Available
Id Proof

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.
DOB Proof

Birth Certificate or 10th Class Passing Certificate
Disclaimer: The Details shown may be different from actual. Please confirm on the bank site before process.

Salaried
Minimum Age (in yrs.)

25 years to 58 years at the time of maturity of the loan
Minimum Income (in Rs.)

Gross annual salary of at least Rs. 2.5 lac per annum
Minimum Work Experience (yrs.)

The total employment stability should be more than 2 years and current employment stability of minimum 1 year
Residence Status (yrs.)

Information Not Available
Id Proof

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.
DOB Proof

Birth Certificate or 10th Class Passing Certificate
Disclaimer: The Details shown may be different from actual. Please confirm on the bank site before process.
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