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 is Rated as "Great!" by 2335 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Car Loan BYTES FROM OUR KITCHEN

    ICICI Used Car Loan

    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

    ICICI Used Car Loan Reviews

    • ICICI Bank Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The car loan service is good with the ICICI bank and they have offered me a loan within the promised time. The customer support is very supportive and they are very much supportive. The ICICI bank executives directly helped me to get in touch with the car dealer ,. The rate of interest and the charges are nominal with the ICICI bank.
      Was this review helpful? 1
      , new delhi
      Reviewed on Dec 11, 2017
    • ICICI Bank Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have got the employee car loan from ICICI bank and I got the loan amount of Rs,3,50,000. The rate of interest and the charges are nominal with ICICI bank when compared with the other banks. The customer support is good with ICICI bank and this loan has the tenure of 5years.
      Was this review helpful? 0
      , chennai
      Reviewed on Dec 11, 2017
    • ICICI Bank Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      It was my personal reason I have postponed my loan process with icici ,the interest rate was nominal customer support was prompt with icici compare to others in the market also I got a better offer it was the main reason for cancellation of my loan process with icici.
      Was this review helpful? 2
      , new delhi
      Reviewed on Dec 06, 2017
    • ICICI Bank Car Loan
      "Average service"
      0.5 2.0/5 "Expected more"
      I dont interacted much with icici staffs regarding my car loan service ,but the customer support was good with icici compare to other banks in the market and the rate of interest they offered me was 9 % which was high for me. I had placed my loan request on hold temporarily for my personal reasons it was a average service that I received from ICICI Bank car loan services.
      Was this review helpful? 2
      , mumbai
      Reviewed on Dec 06, 2017
    • ICICI Bank Car Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      The rate of interest was very high with icici car loan department compare to others in the market. The customer support was prompt but I was with my personal problems so was unable to process further with my loan process it was a good experience with icici car loan service.
      Was this review helpful? 1
      , indore
      Reviewed on Dec 06, 2017
    • ICICI Bank Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      The service was good with icici ,they lack in communication and there is no proper response from icici also the customer service was good compare to others in the market,but I got a better offer it was the main reason for cancellation of my car loan process with icici.
      Was this review helpful? 1
      , kolkata
      Reviewed on Dec 06, 2017
    • ICICI Bank Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      My car loan application was closed with ICICI bank, it is because i have postponed the plan to get the car loan. I did not find any issues with the customer service, they were good and their response was also good, follow up was done correctly. The rate of interest is little high when compared to all other banks.
      Was this review helpful? 0
      , kolkata
      Reviewed on Dec 02, 2017
    • ICICI Bank Car Loan
      "Good customer service"
      0.5 5.0/5 "Blown Away!"
      I have applied for the car loan from ICICI bank, my loan application was closed because i have canceled the plan to get the car loan. I am planning to take a car loan in the month of January or March. Customer service from ICICI bank was good and they responded on time. I am not aware of the rate of interest.
      Was this review helpful? 0
      , faridabad
      Reviewed on Dec 02, 2017
    • ICICI Bank Car Loan
      "Good"
      0.5 3.0/5 "Satisfactory"
      I had applied for a car loan with ICICI Bank through online channel. I received a call from the customer service representative and informed than I had postponed my plan for next month. The response was good. The rate of interest and other charges were not discussed with me.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 02, 2017
    • ICICI Bank Car Loan
      "Car not fixed"
      0.5 4.0/5 "Great!"
      I have planned to take a car loan with ICICI bank. At that time i have not fixed with the car so i could not able to process the loan with the bank and it got closed. I have already purchase the car were i hold my salary account.
      Was this review helpful? 0
      , mumbai
      Reviewed on Dec 02, 2017
    • ICICI Bank Car Loan
      "Good One"
      0.5 4.0/5 "Great!"
      It was a good experience with ICICI Bank for the car loan process actually i arranged the amount from my sources so i did not opt for the loan . The Customer service is really good from the icici bank side .The required Information was given by the bank side .The rate of interest was high 9% and also was the processing fee .Rest everything was very good from the bank end .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 01, 2017
    • ICICI Bank Car Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      It was a good car loan experience with ICICI bank, the loan amount was for Rs 11.20 lakhs with the nominal rate of interest. The process was very smooth and easy, my loan amount was approved within the given time. I have taken Innova car and my loan amount was given based on the on-road price. Customer service was good, they provided door step service to collect the documents.
      Was this review helpful? 0
      , vadodara
      Reviewed on Nov 30, 2017
    • ICICI Bank Car Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      ICICI Bank delivered a good customer service for the personal Car Loan process . The ICICI Bank provided me a full approval on the amount what i asked for . The amount got disbursed within two days and the bank charged me 8.65% as rate of interest and the processing fee of seven thousand . The bank gave me a option of pre closure and part payment also . It was a happy experience with ICICI Bank .
      Was this review helpful? 0
      , panipat
      Reviewed on Nov 30, 2017
    • ICICI Bank Car Loan
      "GOOD"
      0.5 4.5/5 "Excellent!"
      The ICICI Bank provided me a full approval on the loan amount i asked for the car loan . It was a good customer service from the Bank side .the amount got disbursed within 8 to 10 days . The rate of interest provided me was 9 to 10% and the processing fee was also minimal . The gave me a option of pre closure and part payment but i did not take it .
      Was this review helpful? 1
      , new delhi
      Reviewed on Nov 30, 2017
    • ICICI Bank Car Loan
      "GOOD"
      0.5 4.0/5 "Great!"
      Every information was delivered to me in a proper manner from the ICICI Bank side . the customer service was up to the mark . I postponed my plan so i did not opt for the loan process . Over all it was a good experience i had with ICICI Bank and also services are good .
      Was this review helpful? 0
      , pune
      Reviewed on Nov 30, 2017
    • ICICI Bank Car Loan
      "GOOD"
      0.5 4.0/5 "Great!"
      I already bought the car and payed the dealer then i asked for a loan the bank did not have that kind of loan providing option , also the rate of interest was high 14% . So i cancled the application from my end . They contacted me on time and every information was delivered to me in a proper manner .it was a good customer service from the bank ICICI Bank side for the personal loan i received .
      Was this review helpful? 0
      , indore
      Reviewed on Nov 30, 2017
    • ICICI Bank Car Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I canceled the car loan in ICICI Bank application from my side .i actually postponed my plan . It was a good Customer service i received form the bank side . I was out of town and the executive from the bank were continuously calling me back to back so i had to force fully close it from my side . It was a good experience i can say .
      Was this review helpful? 0
      , pune
      Reviewed on Nov 29, 2017
    • ICICI Bank Car Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      It was a good customer service i received from the ICICI Bank for the car loan i applied for . They contacted on time and proper information was delivered to me . Actually i stay in agra and i received call from the new Delhi branch . They said me to contact Agra branch for the loan and they canceled the application .
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 29, 2017
    • ICICI Bank Car Loan
      "High rate of interest"
      0.5 3.0/5 "Satisfactory"
      As i have applied for a car loan with ICICI bank and the rate of interest with the bank is very high. The given rate of interest was 7.99% were i am not satisfied. Thus my loan application got closed. I just checked for the rate of interest with ICICI bank.
      Was this review helpful? 0
      , vadodara
      Reviewed on Nov 25, 2017
    • ICICI Bank Car Loan
      "Good bank"
      0.5 4.0/5 "Great!"
      I have cancelled the plan of taking a car loan for now. Later in future if i am planning to take a car loan then i can prefer ICICI bank if every possibility was fine. The executives are very friendly and they gave me good response at the time of my application.
      Was this review helpful? 0
      , rajkot
      Reviewed on Nov 25, 2017
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