ICICI Car Loan – EMI Calculator & Online Application

ICICI Car Loan EMI Calculator

Use this calculator to estimate your monthly car loan EMI before applying:

Loan Apps You Can Also Explore

Before applying for ICICI Car Loan, explore these apps for comparison and offers:

About ICICI Car Loan

ICICI Bank Car Loan is one of the most popular auto loan products in India. It offers quick approvals, attractive interest rates, and a seamless digital application process. Whether you are buying a new car, a used vehicle, or refinancing an existing loan, ICICI has customized options for salaried, self-employed, and NRI customers.

The loan is available for small hatchbacks to premium SUVs, with flexible repayment tenure ranging from 1 to 7 years. ICICI also offers pre-approved car loans to existing customers with minimal documentation.

Eligibility Criteria

• Minimum age: 21 years; Maximum: 65 years at loan maturity.
• Both salaried and self-employed individuals are eligible.
• Stable income proof required; minimum annual income varies by city.
• Credit score above 700 preferred for best rates.
• Applicable for new and used cars (up to certain age limit).

ICICI Car Loan Interest Rates 2025

Interest rates usually start from 9.00% p.a. and may go up to 12.5% p.a. depending on profile, car type, and repayment capacity.

• Salaried professionals: From 9.0% p.a.
• Self-employed: Slightly higher, from 9.25% p.a.
• Used car loans: Generally 11% – 14% p.a.

Documents Required

• KYC: Aadhaar, PAN, Passport, or Voter ID
• Address proof: Utility bill, Aadhaar, Passport
• Income proof: Salary slips / Form 16 for salaried, ITR for self-employed
• Bank statement: Last 6 months
• Car quotation/proforma invoice from dealer
• Photographs

Processing Fees & Charges

• Processing fee: Up to 0.50% of loan amount or fixed ₹3,000 – ₹5,000
• Late payment penalty: 2% per month
• Foreclosure charges: 3% – 5% if closed before tenure (for fixed-rate loans)
• No prepayment charges for floating-rate car loans

How to Apply for ICICI Car Loan Online

1. Visit ICICI official website or iMobile app.
2. Check eligibility and choose loan amount & tenure.
3. Fill online form with personal, income, and car details.
4. Upload KYC and dealer quotation.
5. Loan gets sanctioned after verification.
6. Amount disbursed directly to dealer or seller.

Benefits of ICICI Car Loan

• Quick sanction with minimal paperwork.
• Up to 100% on-road funding for select cars.
• Flexible repayment up to 7 years.
• Special offers for ICICI salary account holders.
• Pre-approved car loans for existing customers.

FAQs – ICICI Car Loan

Q1: Can I apply without income proof?

A1: Pre-approved ICICI customers sometimes get car loans without income proof, but generally income documents are mandatory.

Q2: What is the maximum loan amount?

A2: ICICI may finance up to 90% – 100% of on-road price for new cars.

Q3: Can NRIs apply for ICICI Car Loan?

A3: Yes, NRIs with valid documentation and local co-applicant can apply.

Q4: How fast is loan approval?

A4: In many cases, loan gets approved within 24–48 hours if documents are valid.

Q5: Can I foreclose the loan?

A5: Yes, foreclosure is allowed with applicable charges (except floating-rate loans).

Disclaimer

This ICICI Car Loan guide is for educational purposes only. Loan rates, eligibility, and charges vary by applicant profile and time. Always confirm on ICICI Bank’s official site or app before applying. Apps listed above are for comparison; we are not responsible for their offers. Consult your financial advisor before making loan-related decisions.