ICICI Used Car Loan

Features & Benefits of ICICI Used Car Loans

The main features and benefits of the used car loan offered by ICICI Bank are mentioned below: 

1. 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. 

1. 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. 

1. Interest Rates: Used car loans are offered at an attractive interest rate starting from 11.25 p.a. 

1. Loan Amount: Up to 100% of the value of the car may be provided as a loan. 

1. Repayment Tenure: The repayment tenure ranges between 1 year and 7 years.

Eligibility Criteria for ICICI Used Car Loan

The eligibility criteria that must be met to apply for a used car loan offered by ICICI Bank are mentioned below: 

1. You must earn at least Rs.2 lakh in a year. 

1. You must work for at least 2 years. 

1. You must be between the ages of 21 years and 54 years. 

1. Indian non-residents and residents can avail the loan. 

Documentation Required for ICICI Used Car Loan

Instant approval. Paperless. Our Used Car Loans are a smart choice.

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

How to Apply for an ICICI Bank Used Car Loan?

The process that must be followed to apply for an ICICI Bank used car loan is mentioned below: 

1. Visit the official website of ICICI Bank. 

1. Select ‘Personal’. 

1. Select ‘Loans’. 

1. Select ‘Car Loans’. 

1. ‘Select ‘Pre-Owned Car Loan’. 

1. Click on ‘Apply’. 

1. Select the loan amount and choose ‘Used Car’. 

1. Agree to the terms and conditions. 

1. Click on ‘Continue’. 

1. Follow the steps on the next page to apply for a used car loan. 

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