ICICI Bank Car Loan Interest Rates 2025
Updated on: Apr 21st, 2025
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4 min read
ICICI Bank provides you with a hassle-free car loan process at affordable rates and special discounts on processing fee. You can take an auto loan for a brand new or used car. ICICI Bank car loan offers features, such as low processing charges, low EMI, and others. With ICICI Car Loan, Get financing of up to 100% on-road price at attractive interest rates with up to seven years of repayment tenure.
In this article, we will look at all aspects pertaining to ICICI Bank car loans.
Types of car loan schemes of ICICI Bank
Pre-Owned (Used) Car Loan | Enjoy faster processing to own a wide range of certified/pre-owned cars with up to 80% of the offer amount and up to five years of repayment tenure. |
Top-Up Car Loan | Additional top-up loans can be provided to existing Car Loan customers. These loans are used for additional requirements like Business Development, Wedding, Home Renovation, personal commitments, and similar needs. |
Refinance Car Loan | In this scheme, ICICI Bank provides loans on existing cars that are either not used as collateral with any bank or financial institution, or are used as collateral but have no outstanding loan balance. The maximum refinance amount offered by ICICI Bank is up to 140% of the car's valuation. |
Pre-Approved Car Loan | Gives upto 100% on road funding without any income documentation, along with a flexible tenure of 84 months. |
Interest rates of ICICI Bank car loans
Type of Car Loan | Tenure | |
1-3 years | 3-7 years | |
New Car Loans | 10.20% (based on CIBIL Score and Car Segment) | 9.10% (based on CIBIL Score and Car Model) |
Used Car Loans | 11.25% (based on CIBIL Score and Car Segment) | |
Features and benefits of ICICI Bank car loans
- Get financing of up to 100% on-road price for new cars with up to seven years of repayment tenure.
- Get financing of up to 80% of the car valuation with up to five years of repayment tenure.
- Attractive interest rates on car loans.
- Quick and easy process with minimal documentation.
- Get pre-approved car loan offers based on your eligibility.
- Instant loan disbursement on pre-approved offers for existing customers.
- Top-up and refinancing facilities available on existing car loans.
- Pre-approved customers can get their loan sanction letters online.
Eligibility for ICICI Bank car loans
Applicants can be salaried individuals, self-employed professionals, and self-employed non-professionals.
Documents required for ICICI Bank car loans
Type of Applicant | Document |
Salaried Applicants |
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Self-Employed Professionals |
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Self-Employed Non-Professionals |
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ICICI Bank car loan fees and charges
Charge | New Car | Used Car |
Loan Processing Fees | Up to 2% of the loan amount | Up to 2% of the loan amount |
Loan documentation charges | ₹ 500 | |
Part Prepayment Charges | Nil for loan seasoning above 24 months and 3% for loans seasoning up to 24 months. | |
Penal charges for late payment | 5% per annum will be charged on the overdue EMI until repayment plus applicable taxes which may be payable pursuant to the applicable laws and terms and conditions | |
How to calculate EMI on ICICI Bank car loans
Our ICICI car loan calculator helps you figure out the monthly instalments you must pay for a specific loan amount to finance your dream car.
Frequently Asked Questions
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