If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
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  • ICICI Used Car Loan Reviews

    • ICICI Bank Car Loan
      "Very Good service"
      0.5 4.5/5 "Excellent!"
      The ICICI bank has disbursed my car loan within a week's time. The process was very smooth , they have explained me almost everything and asked me to submit the required documents, immediately they have disbursed the loan. The customer service and the response is really good with ICICI bank. The rate of interest is average with ICICI car loan. I am very much satisfied with ICICI and I am completely happy to use their service.
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      , pune
      Reviewed on Jul 27, 2017
    • ICICI Bank Car Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      The ICICI bank Car loan Interest rate is too high when compared with Kotak mahindra so that was the reason I haven't proceed with ICICI bank car loan. The customer service and the response is Average with ICICI bank. I would say the interest rate can be decreased with ICICI in future.
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      , bangalore
      Reviewed on Jul 24, 2017
    • ICICI Bank Car Loan
      "Overall a good experience"
      0.5 5.0/5 "Blown Away!"
      Since I have postponed my plan in buying the vehicle. I did not go ahead with ICICI bank for the car loan. The customer services are good and they have responded well. It was a timely process. The interest rate and charges was normal too. Good overall.
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      , vadodara
      Reviewed on Jul 24, 2017
    • ICICI Bank Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The ICICI bank executives asked about the required list of documents to proceed with my car loan, so due to lack of documents I have asked them to close my car loan application with ICICI bank. The customer service and the response provided by ICICI bank is extremely good.
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      , hyderabad
      Reviewed on Jul 24, 2017
    • ICICI Bank Car Loan
      "Satisfactory services"
      0.5 4.0/5 "Great!"
      I have taken my car loan from ICICI Bank and the services was good from them. The process was smooth and I got the funds on time as well. The customer services and response has been supportive as well. The paper work was taken on time and in all no hassles faced.
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      , vadodara
      Reviewed on Jul 24, 2017
    • ICICI Bank Car Loan
      "No hassles overall"
      0.5 5.0/5 "Blown Away!"
      I had applied for a car loan with ICICI bank and the overall experience is good. I received a quick response and the bank informed me the details. The interest rate and processing charges was normal too. I did not go ahead for the loan is because I postponed my plan for the next two months.
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      , ghaziabad
      Reviewed on Jul 13, 2017
    • ICICI Bank Car Loan
      "Better Service"
      0.5 4.0/5 "Great!"
      I didn't get the car loan from ICICI bank ,because of their interest rate and processing fee. I have planned to buy a ford car and the ford company itself ready to do the finance with the better interest rate , so that was reason I haven't proceed with ICICI bank car loan. The customer service and the response with ICICI bank was good. To summarize, I would say it is a better service given by ICICI bank.
      Was this review helpful? 1
      , pune
      Reviewed on Jul 11, 2017
    • ICICI Bank Car Loan
      "Good Experience with Good customer support"
      0.5 4.0/5 "Great!"
      I am a very old customer of ICICI, I have many financial products with them like saving account , personal loan, car loan etc. I took the car loan of Rs.3.70 lakhs with the lower interest rate of 9.25% with one time processing fee of around Rs.1300 its good.
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      , new delhi
      Reviewed on Jul 10, 2017
    • ICICI Bank Car Loan
      "Looking for a best interest rate"
      0.5 3.0/5 "Satisfactory"
      I am working as a direct dealer of bank in HDFC and Axis, Hence I have taken car loan from AXIS, they offered me 7.99% of interest for the car loan. But ICICI were giving higher interest rate but they are good in response and service. But I was unable to compromise with ICICI hence I decided to goahead with AXIS.
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      , indore
      Reviewed on Jul 07, 2017
    • ICICI Bank Car Loan
      "Satisfactory service"
      0.5 3.0/5 "Satisfactory"
      I applied for the car loan with ICICI bank. I got a good response and information about the loan process from the bank. Actually I had applied for the loan amount of 3.50 laksh. I do not have any suggestions for ICICI bank because their service is really good.
      Was this review helpful? 1
      , ahmedabad
      Reviewed on Jul 07, 2017
    • ICICI Bank Car Loan
      "Its Good"
      0.5 4.0/5 "Great!"
      My brother have taken car loan from SBI, since he was government employee he got a better offer from them., Hence there is no need to take car loan from ICICI. Therefore I dropped the plan, but ICICI have responded well, I told them to collect the document but suddenly my plan got changed.
      Was this review helpful? 0
      , indore
      Reviewed on Jul 07, 2017
    • ICICI Bank Car Loan
      "Dissatisfied"
      0.5 1.0/5 "Really Bad"
      For the car loan process, I did not receive any response from ICICI bank. No one was concerned about my application but rather they ignored it. Even I was unable to contact them because I do not have their valid contact number to call them back I have an idea of taking the loan for an amount of 5.3 lakhs.
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      , nasik
      Reviewed on Jul 07, 2017
    • ICICI Bank Car Loan
      "Response part has to be improved"
      0.5 1.0/5 "Really Bad"
      I got a call from ICICI, but at the time I was in out of station. Hence I asked the executive to call me back on one particular day therefore I could organize it. When I reached to my town, I didn't receive a call at the time on second day I got mail stating my loan application got closed. There was no proper coordination or communication from the bank.
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      , pune
      Reviewed on Jul 07, 2017
    • ICICI Bank Car Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I preferred ICICI bank for the car loan so I applied for the loan with them. For my application, the bank responded well and they responded well. Even I got proper information on my loan application. I had no issues with bank at any point of time.
      Was this review helpful? 0
      , pune
      Reviewed on Jul 06, 2017
    • ICICI Bank Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      ICICI Car Loan after approval process completed they need to maintain same service how they did before, the time processing is good they executive was very good he provided me full information. Interest rate was 9% its was same in private bank when i compare to nationalized its bit high, documentation process is good, they charge 1.5% for processing fee
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      , kolkata
      Reviewed on Jul 06, 2017
    • ICICI Bank Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have just dropped getting the car loan plan, so that was the reason I haven't go with the ICICI bank car loan. The customer service and response was good with ICICI bank. The rate of interest is nominal with ICICI. The service which was given by ICICI was good.
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      , pune
      Reviewed on Jul 06, 2017
    • ICICI Bank Car Loan
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I applied for the car loan with ICICI bank. I am getting good response and information for the loan process from the bank. Actually I had applied for the loan through online source. I do not have any suggestions for ICICI bank because the service is good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 06, 2017
    • ICICI Bank Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I applied for the car loan with ICICI bank. On my loan application, they called me many times and followed up on my application. Their responses are good but they where not ready to provide me the loan because they do not offer loans for commercial vehicle so It got dropped the plan. Rest banking wise they are excellent
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      , pune
      Reviewed on Jul 06, 2017
    • ICICI Bank Car Loan
      "Response is good. But high on ROI"
      0.5 4.0/5 "Great!"
      I did not take the car loan from ICICI Bank as I got another option from another finance company. The interest rate was also high, it was around 10%, and so was the processing charges. The services was good and the bank contacted me on time. There were follow up calls as well.
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      , chennai
      Reviewed on Jul 06, 2017
    • ICICI Bank Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I didn't avail the car loan with ICICI bank, because of the interest rate, processing fee and the additional charges . The customer service and the response was very good with ICICI bank. The rate of interest can be reduced in future, it need to be similar with other banks. It was an average service overall.
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      , ghaziabad
      Reviewed on Jul 05, 2017
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    ICICI Used Car Loan is Rated as "Great!" by 1774 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Car Loan BYTES FROM OUR KITCHEN

    Introduction to ICICI used car loans

    ICICI Bank is India's largest private sector bank with total assets of Rs. 5,946.42 billion as of March 31, 2014 and profit after tax amounting to Rs 98.10 billion for the year that ended on March 31, 2014. ICICI Bank currently has a pan-India network of 3,845 Branches and 12,012 ATMs. ICICI Bank offers both new and used car loans with a fixed interest rate. In a fixed interest rate loan, the interest rate will remain fixed throughout the tenure. The latest applicable rates are-

    New Car: 10.75% to 15.00% depending on the segment of vehicle and tenure selected. Tenure can be up to 84 months.

    Pre-Owned Car: 15.50% to 17.00% depending on the segment of vehicle.

    Features & Benefits of ICICI used car loans

    • Faster processing and approvals: ICICI bank, being a private sector player, is known to aggressively market its used car loans. Once the customer furnishes the required documents, the processing is fast and disbursal happens within a few days of the customer filling up the loan application. ICICI Bank also provides insurance cover for Loan Liability, repayable along with EMI for the car.
    • Pre-approved loans for existing customers: Based on existing relationships like Fixed Deposits, home loans or credit cards, ICICI bank sometimes offers a pre-approved car loan for its customers. This reduces paperwork and the customer is able to get disbursal faster.
    • Higher LTV and tenure: ICICI bank provides up to 80% finance on the secondhand car that you choose to buy and the tenure can go up to 60 months or higher on a case to case basis.

    Eligibility Criteria for ICICI Used Car Loan

    ICICI has partnered with BankBazaar.com so that you can instantly find out if you fulfil eligibility criteria for a used car loan and apply immediately. Loans are available to salaried, self-employed professionals and businessmen. There are tools like online EMI calculators that tell you the exact applicable monthly instalments, if you sign-up for a used car loan from the ICICI bank.

    Documentation Required for ICICI Used Car Loan

    The following documents are mandated by the bank from its various categories of car loan applicants-

    Documents

    Salaried

    Self Employed Professional

    Self Employed Non-Professional

    Application form

    X

    X

    X

    KYC

    Photographs

    X

    X

    Identity Proof

    X

    X

    X

    Address Proof

    X

    X

    X

    Age Proof

    X

    X

    X

    Bank Statements

    X

    X

    X

    Signature Verification

    X

    X

    X

    Income Proof

    X

    Latest Salary Slip / Form 16

    X

    Income Tax returns of two previous FYs along with complete financial/audit report

    X

    Income Tax Returns of 2 previous financial years

    X

    Other Documentation

    Business Stability proof / Ownership proof

    X

    X

    Employment Stability Proof

    X

    Partnership deed and a letter signed by all partners authorising one of them

    X

    Companies and Societies: A resolution by Board of Directors (or such managing body) and Memorandum and Articles of Association

    X

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