If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
  • ICICI Used Car Loan is Rated as "Great!" by 2541 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

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    ICICI Used Car Loan Reviews

    • ICICI Bank Car Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I am using the card since from last from last 6-7 years with the ICICI BANK credit card, they have given with the nominal limit, but the card is a payable card. There are fuel purchase offer is there in this card. They are proving with the EMI is good.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jun 12, 2019
    • ICICI Bank
      ICICI Bank Car Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have taken a car loan in ICICI bank on before 11 years ago, the loan amount was sufficient as per my requirement for the duration of 10 years was taken, but I have closed the loan within 3 years fully. The rate of interest was nominal at the time when loan taken. Now I have closed the loan.
      Was this review helpful? 1
      , jaipur
      Reviewed on Jun 10, 2019
    • ICICI Bank Car Loan
      "Good car loan"
      0.5 5.0/5 "Blown Away!"
      My car dealer has arranged a loan from ICICI and the interest rate is nominal and they have charged me a processing fee which is nominal compared to other banks. The total tenure period of the loan is 37 months. Overall, I'm satisfied with the car loan services.
      Was this review helpful? 1
      , kolkata
      Reviewed on Jun 09, 2019
    • ICICI Bank Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The loan amount was satisfactory, I pay an EMI on time. The tenure period is for good . Overall it was a very good loan experience e with the ICICI .It was a super fast loan experience. I took a car Loan from the ICICI BANK . The whole loan process was easy and super fast. Rate of interest is high .
      Was this review helpful? 2
      , mumbai
      Reviewed on May 30, 2019
    • ICICI Bank Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I was in a need of car loan and i had applied with ICICI Bank. Well application processed on a quick note. Before there was a delay as i have submitted the documents.Bank they sanctioned my loan in few days. The rate of interest is fine , and compare to other banks its reasonable.
      Was this review helpful? 3
      , new delhi
      Reviewed on May 30, 2019
    • ICICI Bank Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I was taken a car loan in ICICI bank which was applied directly with bank. As per my requirement I got the loan amount got sanctioned. The rate of interest was nominal. The processing fee was applicable and nominal in this bank. Now I have closed the loan.
      Was this review helpful? 2
      , mohali
      Reviewed on May 29, 2019
    • ICICI Bank Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a car loan with ICICI. The tenuity period is fine , my application was taken care by ICICI and they processed it keeping my documents . Rate of interest if i see its reasonable compare to market value. I am happy with Overall services.
      Was this review helpful? 1
      , mumbai
      Reviewed on May 27, 2019
    • ICICI Bank Car Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have taken a car loan in ICICI bank for more than one year. As per my requirement i received a loan amount from the bank for the duration of 3 years. The rate of interest is low when compare to other that is good advantage in this bank. The customer service is good and supportive.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 25, 2019
    • ICICI Bank Car Loan
      "Good Experience with affordable interest"
      0.5 4.5/5 "Excellent!"
      My car loan is going with ICICI Bank, only once I contacted the customer support response is prompt The interest rate is very nominal. I took around the loan amount around Rs. 4.5 lakhs to purchase wagon R car. They do have part and balance transfer.
      Was this review helpful? 1
      , new delhi
      Reviewed on May 17, 2019
    • ICICI Bank Car Loan
      "Need to improve customer service"
      0.5 3.0/5 "Satisfactory"
      I have been taken a car loan in ICICI bank for the past 2 years. The loan amount was not much sufficient as per my expectation for the duration of 5 years. The rate of interest is nominal. The processing fee was applicable. The customer service is good and responsiveness on time.
      Was this review helpful? 0
      , pune
      Reviewed on May 17, 2019
    • ICICI Bank Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have been applied for my car loan with ICICI bank , their service so far was good, the loan amount recently they have given me up to 15,00,000 which was sufficient for me, the rate of interest they have charged me up to 9% which was quite okay comparing to other bank, it has been just 2 months the loan got approval.
      Was this review helpful? 1
      , mumbai
      Reviewed on May 14, 2019
    • ICICI Bank Car Loan
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      I have been holding my car loan with ICICI bank from past long time, their service is not that good, the loan amount which they have given to me was not sufficient , any how i manage to get the car, the rate of interest they have charged me up to 11.25% which was high even 2% processing fee on loan was chargeable which i felt was very high, now almost going to close this loan.
      Was this review helpful? 0
      , pune
      Reviewed on May 14, 2019
    • ICICI Bank Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken a Car Loan from ICICI Bank a while back and the process in getting the loan was pretty much easy. The loan amount was sufficient but the interest rate with them had been quite high when compared with the other banks, their customer support team had also been responsive and they where helpful at times.
      Was this review helpful? 1
      , ghaziabad
      Reviewed on May 11, 2019
    • ICICI Bank Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The experience i had with the Car loan from ICICI Bank was quite good where the process had been simple and the loan amount has been sufficient as well. The interest rate which they had provided has been nominal and the charges also has not been high. Their staffs had been pretty much helpful and they where supportive.
      Was this review helpful? 1
      , jaipur
      Reviewed on May 08, 2019
    • ICICI Bank Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I took ICICI bank card long three years back, i purchased maruti swift dzire car the showroom agent had given me option to take for loan , The loan amount was sufficient based on the requirement, the rate of interest they have charging me was nominal,the loan got sanction within 24 hours , their service was quick, i am going to close next year this loan.
      Was this review helpful? 0
      , kanpur
      Reviewed on May 08, 2019
    • ICICI Bank Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I had previously holding car loan with ICICI bank. The interest rate they have been charged me was nominal,they have charged me up to 13% which was nominal, the loan i got through showroom, they have given me loan as per vehicle price almost, their service was good, they have not charged me processing fee.
      Was this review helpful? 1
      , ludhiana
      Reviewed on May 06, 2019
    • ICICI Bank Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have a car loan with ICICI BANK . The interest rate is nominal here and i pay a monthly EMI Till date never had issue and interest rate is very nominal . I am very happy with services. The loan amount is very satisfactory . I got my loan on time and service is good .
      Was this review helpful? 0
      , ahmedabad
      Reviewed on May 04, 2019
    • ICICI Bank Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I am satisfied with the customer service. The interest rate is nominal with ICICI BANK and they charged me a processing fee, its not nominal which could have been better. I have purchased a new car and they have provided me 90% of loan. The loan tenure is 5 years. I can do partial payment and foreclosure.
      Was this review helpful? 1
      , delhi
      Reviewed on May 03, 2019
    • ICICI Bank Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      ICICI customer service and response was fine. The interest rate is good and also its lower than other banks. They have charged me a processing fee and got 80% funding for purchasing the car. The loan tenure is 5 years. I can do partial payment and foreclosure any time.
      Was this review helpful? 0
      , delhi
      Reviewed on Apr 29, 2019
    • ICICI Bank Car Loan
      "Very good"
      0.5 5.0/5 "Blown Away!"
      I have availed my car loan from ICICI BANK through online channel. The interest rate is 14.5% and it was very good. There is a processing fee of around 12-15K for the loan amount of 6.18L. I have purchased SWIFT card and the loan tenure is 7 years. The process was good and simple.
      Was this review helpful? 2
      , bangalore
      Reviewed on Apr 29, 2019
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