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ICICI Bank Car Loan Ratings
4.0 / 5.0 by 52 users

Fees & Charges

Promised Interest Rate

Customer Service

Responsiveness

ICICI Bank Car Loan Reviews

"ICICI Bank Customer service and response was quite good,basically customer will always look for quality service so i will recommend ICICI Bank for my friends and colleague.ICICI Bank was good in terms of net banking and their phone banking facility is also good.Am quite glad to have relationship with ICICI Bank. "

Ravi Bhushan, Gurgaon
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ICICI Car Loans

Owning a car is just a click away with ICICI Bank car loans.

ICICI Car Loan Interest Rates

ICICI Bank offers car loans at very competitive interest rates.

ICICI Car Loan Comparison

When compared to many other banks, ICICI Bank car loans are available at lower rates and with minimal documentation.
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ICICI Bank Car Loan

salaried self employed

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Rates & special offers displayed below are accurate & applicable ONLY for applications made on BankBazaar.com

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    Slowly start typing your employer's name and choose from the recommendations provided. If you do not see your employer on our list, simply type the name in this field.
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ICICI Bank Car Loan Overview

ICICI Bank 4.0 / 5.0 by 52 users     Used this product? Write a review »
ICICI Bank Car Loan Drive your Dream Car with the lowest ICICI Bank Car Loan Interest Rates

Need a car and looking for finance options? Opt for ICICI car loans and get low rate car loans instantly. Check your Eligibility Now!

Why Apply for a ICICI Personal Loan on BankBazaar.com?
Fill the form above and check your car loan eligibility instantly and get e-approved in minutes.

Benefits of ICICI Bank Car Loans:
  • Car loans up to 90% of the ex-showroom price of the car.
  • Exciting Interest rates.
  • Repayment period as long as 5 years.
ICICI Car Loan EMI Calculator:

Check our Car Loan EMI calculator and see how much money you will have to pay every month for your dream machine. Remember the more down payments you make the lesser will be the loan burden. Check your car loan eligibility online and compare processing fees, interest rates and documents for ICICI Bank.

ICICI Bank Car Loan FAQs

  1. What are the loan tenure options?
    The tenure of the loan could range from one to five years for new cars.

  2. What are the lending rates?
    The lending rates vary on the basis of discounts, which are offered by manufacturers and dealers. ICICI Bank has a tie-up with most of the manufacturers and authorised dealers and our sales team will help you negotiate the best deal on your car loan.

  3. How is the interest charged/calculated?
    Interest is calculated on a monthly reducing balance basis.

  4. How much time will it take for my loan to be approved?
    The loans are generally approved within 24 hours of submission of complete documentation.

  5. Is a personal guarantor a must?
    No, a personal guarantor is not a must.

  6. What security/collateral do I have to provide?
    No additional security/collateral needs to be provided, apart from the car against which the loan is granted, being hypothecated to ICICI Bank.

  7. Can I prepay my loan?
    ICICI Bank charge prepayment fee of 5% on the outstanding principal amount,Service Tax will be charged as applicable.

  8. Does ICICI Bank have a loan for the car I want?
    ICICI Bank car loans are available for almost all passenger cars - new as well as used.

  9. Can I avail of a loan on my existing car?
    No, You can get a loan on your existing car.

  10. How do I repay the loan?
    The loan can repaid through post dated cheques drawn on ICICI Bank Ltd. Alternately, if you have a Bank account with ICICI Bank, you can issue a direct debit mandate, to your existing ICICI Bank account or even opt for an ECS option for the repayment.

ICICI Bank Car Loan Eligibility & Documentation

ICICI Bank Car Loan Eligibility:


  1. Salaried Individuals
    • The applicant should be above 25 years old at the time of application, and upto 58 years of age at the time of maturity of the loan.
    • Gross annual income of at least Rs. 2.50 lakhs.
    • The total employment stability should be more than 2 years and current employment stability of minimum 1 year.
  2. Self-employed Individuals
    • Any proprietor, partner, professional or director above 28 years but below 65 years at the time of the loan maturity.
    • Gross annual income of at least Rs. 2.00 lakhs.
    • Business stability should be more than 3 years.

How is your ICICI Bank car loan eligibility determined?
Based on the following aspects ICICI Bank will determine your loan eligibility:

  • Your monthly income
  • Cost of the vehicle
  • Other EMI’s which you are paying for any other loan

Fill the form above to check your actual car loan amount eligibility.


ICICI Bank Car Loan documentation Checklist:

  • Age Proof: Any one of Passport copy, PAN Card, Voters ID card, Photo driving licence with birth date ( laminated, recent , legible), Photo ration card with DOB, Employer certificate/ID, School/College Leaving certificate.
  • Proof of Identity: Any one of Passport copy, PAN Card, Voters ID card, Photo driving licence with birth date, Photo ration card with DOB.
  • Income Proof: Latest salary slip with latest form 16/latest ITR.
  • Address Proof: Any one of Photo Ration card with DOB, Photo Driving licence with DOB, Voters ID card, Passport copy, Telephone bill, Electricity bill, PAN Card, Credit Card statement with credit card copy, Employer certificate/ID.
  • Sign Verification Proof: Any one of Passport copy, Photo driving licence with birth date ( laminated, recent , legible), Credit Card statement with credit card copy, Banker's verification, Copy of margin money paid to bank.
  • Proforma invoice

ICICI Bank Car Loan Interest RatesUpdated on 23 April 2014

Details of ICICI Bank Car Loan

ICICI Bank Car Loan Interest Rate.(Monthly reducing balance)
11% to 14% floating. Check Customized Interest Rates Now!
Processing Fees
Up to Rs. 5,350
ICICI Bank Car Loan Tenure
1 year to 5 years
Preclosure charges
5% of principal outstanding or interest outstanding for unexpired period of the loan, whichever is lower
ICICI Bank Car Loan Amount
Up to 90% of ex-showroom price
Guarantor Requirement
No guarantor required

Car Loan Articles

Car Loan Forum

Comments: 18    Views:      September 26

Comments: 1    Views: 5     March 21

Comments: 1    Views: 3     March 10

Comments: 1    Views: 12     March 04

Comments: 0    Views: 2     January 07

Comments: 0    Views: 22     December 18

Comments: 0    Views: 1     December 16

Comments: 3    Views: 214     October 18

Comments: 2    Views: 111     September 19

Comments: 3    Views: 103     May 02

Comments: 0    Views: 72     June 21

Comments: 2    Views: 1     June 18

Comments: 2    Views: 122     June 05

Comments: 0    Views: 72     May 23

Comments: 1    Views: 22     April 24

Comments: 0    Views: 102     May 08

Comments: 0    Views: 11     November 30

Comments: 0    Views: 202     September 26

ICICI Bank  Car Loan Reviews
Customer Reviews
Page 1 of 3 1 2 3
  • Virtuous Service
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    RAVI BHUSHAN, gurgaon
    Yes, I recommend this bank.
    ICICI BANK Car Loan
    5.0/5
    validated-source
    (2)

    ICICI Bank Customer service and response was quite good,basically customer will always look for quality service so i will recommend ICICI Bank for my friends and colleague.ICICI Bank was good in terms of net banking and their phone banking facility is also good.Am quite glad to have relationship with ICICI Bank.

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    Promised Interest Rate
    Fees & Charges
    Customer Service
    Responsiveness
    took a Car Loan from ICICI BANK Reviewed on
  • Excellent job
    /images/customer_review/default-unknown-person.png
    DINESH KUMAR, new delhi
    Yes, I recommend this bank.
    ICICI BANK Car Loan
    5.0/5
    validated-source
    (5)

    ICICI Bank Customer service and response was quite good,basically customer will always look for quality service so i will recommend ICICI Bank for my friends and colleague.ICICI Bank was good in terms of net banking and their phone banking facility is also good.But one suggestion to ICICI that they have to work on their security level in net banking ,apart from that am quite glad to have relationship with ICICI Bank.

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    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Car Loan from ICICI BANK Reviewed on
  • Happy with the service
    /images/customer_review/default-unknown-person.png
    SRAVAN KUMAR NAREDLA, hyderabad
    Yes, I recommend this bank.
    ICICI BANK Car Loan
    4.0/5
    validated-source
    (6)

    ICICI Bank customer service and instant response was really good. ICICI Bank service was fine in terms of quick disbursement, but when am pretty disappointed on their rate of interest when compared with other bank and after giving all my documents i was following them so it will be good if they update customer on their loan status otherwise am quite happy to deal with ICICI Bank.

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    Promised Interest Rate
    Fees & Charges
    Customer Service
    Responsiveness
    took a Car Loan from ICICI BANK Reviewed on
  • Excellent services from ICICI Bank
    /images/customer_review/default-unknown-person.png
    JAYA GOPAL ADISESHAN, chennai
    Yes, I recommend this bank.
    ICICI BANK Car Loan
    5.0/5
    validated-source
    (3)

    I am having my salary account with ICICI for last twelve years. I got a preapproved loan from them, they were calling since last two years for this loan. They did not charge any fees for the this loan. They processed my loan within a day's time with minimum documents. They were clear with what they want!

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    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Car Loan from ICICI BANK Reviewed on
  • ICICI Bank approved my loan in a Day's time
    /images/customer_review/default-unknown-person.png
    JIJU MATHEWS, bangalore
    Yes, I recommend this bank.
    ICICI BANK Car Loan
    4.0/5
    validated-source
    (1)

    During my initial application with Bankbazaar I was yet to decide on the loan so I took some time. Later I had some good year ending offers and I needed the loan immediately, but I was unable to contact Bankbazaar. I did have a preapproved loan from ICICI Bank since I have salary account with them. The dealer processed my application with ICICI Bank within a day's time I got my loan done. Their documentation was simple because of my salary account wherein with Axis Bank was asking for form16. Bankbazaar website is very good with their EMI calculators with all Bank. Unfortunately could not close my car loan with Bankbazaar.

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    Fees & Charges
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    took a Car Loan from ICICI BANK Reviewed on
  • Satisfied services from ICICI
    /images/customer_review/default-unknown-person.png
    AKAASH PATNAIK, bangalore
    Yes, I recommend this bank.
    ICICI BANK Car Loan
    3.5/5
    validated-source
    (1)

    I chose ICICI Bank because I have my salary account with them and I got a pre-approved loan with pretty decent rate of interest. It was little cumbersome after submitting my documents, I had to make make multiple calls to follow up with the manager. Documentation was very simple and Bank executive collected them on time. But otherwise overall it was nice.

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    Fees & Charges
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    took a Car Loan from ICICI BANK Reviewed on
  • ICICI is satisfactory
    /images/customer_review/default-unknown-person.png
    RAHUL VASANT SHEGAONKAR, pune
    Yes, I recommend this bank.
    ICICI BANK Car Loan
    4.0/5
    validated-source
    (1)

    ICICI Bank was good! I am a privileged customer with ICICI Bank. There services are fast and their executive was prompt in timing. They had collected my documents on time. The loan process was quick they verified the next day after collecting my documents and next day they disbursed the cheque on the 3rd day. The reason I am rating them 4 is because they do not follow up well once the loan is disbursed. I have not received my repayment schedule yet and this is what ICICI Bank is lacking with. Bankbazaar and its customer service is good.

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    Fees & Charges
    Promised Interest Rate
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    Responsiveness
    took a Car Loan from ICICI BANK Reviewed on
  • Great service at ICICI Bank
    /images/customer_review/default-unknown-person.png
    Yes, I recommend this bank.
    ICICI BANK Car Loan
    5.0/5
    validated-source
    (1)

    Customer support was very nice, they are there to support you in times of trouble. They collected my documents at my door step. I had no hassle, loan process was very smooth, only once I wanted to visit the branch to sign my loan agreement. Otherwise everything was fine.

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    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Car Loan from ICICI BANK Reviewed on
  • ICICI Bank Could Do Better Cusomer Service
    /images/customer_review/default-unknown-person.png
    ICICI BANK Car Loan
    3.0/5
    validated-source
    (0)

    They responded me very fast initially ,after i submitted my documents they delayed to process my Loan. Compare to other bank they charging 5 Percentage Pre paid charges.I have salary account with ICICI Bank regarding that i am satisfied with the service but not in Loan . I will rate 5 for Bankbazaar overall service.

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    Promised Interest Rate
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    took a Car Loan from ICICI BANK Reviewed on
  • Wonderfull Experience With ICICI Bank
    /images/customer_review/default-unknown-person.png
    MANOJ GANAPATHI, hyderabad
    Yes, I recommend this bank.
    ICICI BANK Car Loan
    4.0/5
    validated-source
    (1)

    The overall Experience was good with ICICI bank. Some issue in cheque what they given that amount was vary after of course they rectified quickly otherwise everything was good. Documentations which i given was moderate.Within 3 days i got my loan.Bankbazaar is an easy process to get Loan.I will rate 5 for Bankbazaar overall Service.

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    Fees & Charges
    Promised Interest Rate
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    took a Car Loan from ICICI BANK Reviewed on
  • Awesome Experience with ICICI Bank
    /images/customer_review/default-unknown-person.png
    Yes, I recommend this bank.
    ICICI BANK Car Loan
    4.0/5
    validated-source
    (1)

    It was good experience with ICICI Bank.I have Salary Account with ICICI Bank. So not much formalities to get the Loan from the Bank. The Executive who came to collect the documents Coordinated me very well. I got my Loan without any complications. Bankbazaar i don't know much about this.but good till i know.

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    Fees & Charges
    Promised Interest Rate
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    Responsiveness
    took a Car Loan from ICICI BANK Reviewed on
  • My car loan experience with ICICI..
    /images/customer_review/default-unknown-person.png
    CA GAJIENDRA SINGH RAUTELA, faridabad
    Yes, I recommend this bank.
    ICICI BANK Car Loan
    4.0/5
    validated-source
    (0)

    My experience with ICICI bank satisfied one, i applied car loan and got the loan amount as soon as possible, initially they charged processing fee Rs.4000 but after that they reversed Rs.2500.Bankbazaar website very helpfull for who are all looking for loan.

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    took a Car Loan from ICICI BANK Reviewed on
  • They were good in their work
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    SRINIVASAN RAMAN, noida
    Yes, I recommend this bank.
    ICICI BANK Car Loan
    4.0/5
    validated-source
    (0)

    At the time of applying for the loan the response I got from the bank was very good. But later they lost interest in processing the loan. Hence, the over all experience in loan processing was OK. Also, I found the fees and rates were also on a higher side, which could be reduced. The service provided by them was OK, as every time I need to call them for status of my loan. I find the website was very useful in all means.

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    took a Car Loan from ICICI BANK Reviewed on
  • ICICI gave an Excellent service
    /images/customer_review/default-unknown-person.png
    S P DAS, mumbai
    Yes, I recommend this bank.
    ICICI BANK Car Loan
    5.0/5
    validated-source
    (0)

    Within 3 days they completed my loan process. Loan process was very quick and the disbursement was done without any disturbance, they were really good in service. Overall they have done a perfect job. I am very much satisfied with the way they processed my loan and the service provided.

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    Promised Interest Rate
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    took a Car Loan from ICICI BANK Reviewed on
  • Good job ICICI
    /images/customer_review/default-unknown-person.png
    NAWAL GOYAL, ghaziabad
    Yes, I recommend this bank.
    ICICI BANK Car Loan
    4.0/5
    validated-source
    (0)

    Regarding rate of interest in ICICI bank I am not satisfied. The executive initially said rate of interest can be reduced and he will try and and get from the same from the bank. However, when I got the approval letter the rate of interest was different. Within a week I got the loan and it was fine, but they made me to wait in car showroom for the approval checklist. Overall they did a good service.

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    took a Car Loan from ICICI BANK Reviewed on
  • Excellent job done by icici and bank bazaar
    /images/customer_review/default-unknown-person.png
    SUDESH SINGH SINGH, ghaziabad
    Yes, I recommend this bank.
    ICICI BANK Car Loan
    5.0/5
    validated-source
    (0)

    In 1 week process competed and i got the loan in time. Everything said by icici and bankbazaar was done. what they given commitment on the same way they did it. the disbursement amount also i got it in the same what they given. The rate of interest and fees details was given correctly and i liked their response and service as well.

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    took a Car Loan from ICICI BANK Reviewed on
  • It was all well done by ICICI
    /images/customer_review/default-unknown-person.png
    Yes, I recommend this bank.
    ICICI BANK Car Loan
    4.0/5
    validated-source
    (0)

    There was delay in delivering the cheque to the dealer by the agent side. I needed to co-ordinate with them and i called the agent 3-4 times and made it happen. Initially the executive said he will be delivering it . Actually the bank has issued the cheque and this executive has delayed in producing it to dealer due to which it took 2 days to get from him. The process took 3 days for loan approval. I think other that the irresponsibility of that executive the over all service and process done by icici was good.

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    took a Car Loan from ICICI BANK Reviewed on
  • ICICI made it happen
    /images/customer_review/default-unknown-person.png
    EKTA NAIK, surat
    Yes, I recommend this bank.
    ICICI BANK Car Loan
    4.0/5
    validated-source
    (0)

    Overall the service by ICICI was satisfactory . I had got the loan in time and i had no issues with the process. I was also quick and all details was given in the process. I would definitely like to share about this bank to others. They have given me the rate of interest what they have said.

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    took a Car Loan from ICICI BANK Reviewed on
  • Review number: 30274
    /images/customer_review/default-unknown-person.png
    NISHU BISHT, new delhi
    ICICI BANK Car Loan
    5.0/5
    validated-source
    (0)

    ICICI Bank thanks for your perfect services which make my loan work hassle free.

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    took a Car Loan from ICICI BANK Reviewed on
  • Review number: 30272
    /images/customer_review/default-unknown-person.png
    NISHU BISHT, new delhi
    ICICI BANK Car Loan
    5.0/5
    validated-source
    (0)

    Thanks BankBazaar for your quick response. My experience with BankBazaar (“BB”) is worth sharing. When initially got call from BB, I thought it will be like ordinary policy sellers. But the services provided by BB are recommendable. It not only guides to select a good car loan option but also provide me number of benefits. And yes there was no need of any reminders, got my bonus cheque on time. Really Appreciate you for making my first Car experience wonderful! J

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    took a Car Loan from ICICI BANK Reviewed on
Customer Reviews
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