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
      "High Interest Rate"
      0.5 3.0/5 "Satisfactory"
      I had approached ICICI bank for the car loan. On my loan application, I had received very good response from ICICI bank. In fact, I had received an immediate response from the bank. But the interest rate is very high which is 10.25% but Syndicate bank provided with 8.95% of interest rate. Hence I did not continue the loan process with ICICI bank.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 24, 2017
    • ICICI Bank Car Loan
      "No Response"
      0.5 1.0/5 "Really Bad"
      For the car loan process, I did not receive a proper response from ICICI bank. I had submitted my application with them. But 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.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 24, 2017
    • ICICI Bank Car Loan
      "Satisfactory"
      0.5 3.0/5 "Satisfactory"
      It was a good service with ICICI bank for the car loan process. I applied for the loan but I could not proceed further from banking end I have no problem even loan got processed but the main issue is with the dealer they have said the car will be available after 6 months, I cancelled the plan since I need the loan on an urgent basis.
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      , mumbai
      Reviewed on Jun 22, 2017
    • ICICI Bank Car Loan
      "The Best Service"
      0.5 5.0/5 "Blown Away!"
      ICICI bank is good in terms of providing good service. I submitted my car loan application with ICICI through third party online source. The bank is responded well and contacted me promptly. But I postponed my plan due to some reason. But I received best service from ICICI.
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      , indore
      Reviewed on Jun 22, 2017
    • ICICI Bank Car Loan
      "Better Service"
      0.5 4.0/5 "Great!"
      ICICI bank approached me for the car loan. But at that time I had not decided to purchase a car so I did not accept the offer and told them that I will avail it later. But the ICICI bank is very prompt in providing response and they had spoken with me in a very good manner.
      Was this review helpful? 0
      , thane
      Reviewed on Jun 22, 2017
    • ICICI Bank Car Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      It was a good service with ICICI bank for the car loan process. I applied for the loan but I could not followup with them in order to get the loan. I was held up in other work so I had no time for it. So I just postponed my plan in taking the car loan. But services of ICICI bank is good.
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      , indore
      Reviewed on Jun 21, 2017
    • ICICI Bank Car Loan
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      What stopped the process was, I was not in need to get the car loan as of now and that's why I did not go ahead with the ICICI bank. Customer service with the ICICI bank and they have contacted me on an immediate basis. Rate of interest varies based on the capital amount.
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      , noida
      Reviewed on Jun 21, 2017
    • ICICI Bank Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I had applied for a car loan with ICICI Bank. The response was good. They contacted me and informed me the details. I did not proceed ahead as I have postponed my plan after discussing with my family The customer service and response from the bank executive was really good
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jun 20, 2017
    • ICICI Bank Car Loan
      "Overall package is good when its open its not up to the mark"
      0.5 3.5/5 "Pretty good"
      The interest rate levied by ICICI bank is slightly higher than the normal one. One of my friend has got a Baleno car with a higher interest rate, but he is paying less interest rate also the EMI options need to be more transparent with ICICI bank. I got the loan within a week's time. The required loan amount was disbursed by ICICI bank on time. Even I cannot compare the processing fee as I don't have any prior experience and this happened to be my first experience.
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      , new delhi
      Reviewed on Jun 20, 2017
    • ICICI Bank Car Loan
      "Good "
      0.5 5.0/5 "Blown Away!"
      The whole process hardly took a week's time to get completed. ICICI bank executive came and collected all the relevant documents on the assigned time and date. Further, I had got the required loan amount too. The rate of interest is too high in the beginning later after negotiating,they have reduced the interest rate and they have offered the best interest rate.I am completely happy about the loan service and to conclude, I am very much satisfied with their service.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 20, 2017
    • ICICI Bank Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      ICICI gave proper communication on car loan request. ICICI process was smooth and hassle free.They did very good documentation and done the disbursement on time with in 3 days my loan got approved. ICICI offered me the interest rate of 8.50.% and with the processing fee of 6000 rupees I found interest rate was nominal like other bank.
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      , junagadh
      Reviewed on Jun 19, 2017
    • ICICI Bank Car Loan
      "DISSATISFIED"
      0.5 1.0/5 "Really Bad"
      I do not have anything to provide a good review for ICICI bank. The reason is, I received no response from the bank. At least they should have called once.This is not the kind of service customer is expecting I haD applied for 4.5L over all, it was not a good service for the car loan.
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      , vadodara
      Reviewed on Jun 19, 2017
    • ICICI Bank Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      ICICI gave proper communication on car loan request. ICICI process was smooth and hassle free.They did very good documentation and done the disbursement on time with in 2 days my loan got approved. ICICI offered me the interest rate of 8.75% and with the processing fee of 1% of the loan amount. I found interest rate was nominal like other bank
      Was this review helpful? 0
      , surat
      Reviewed on Jun 19, 2017
    • ICICI Bank Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I had not taken the car loan from ICICI bank because I was just having an inquiry regarding the car the loan amount I was intending to borrow 3.85 lakhs from ICICI. Bank executive contacted me and helped me by giving me the details what I needed and my over all experience was good.
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      , mohali
      Reviewed on Jun 15, 2017
    • ICICI Bank Car Loan
      "Fast Service"
      0.5 4.0/5 "Great!"
      I had taken the car loan from ICICI bank. The interest rate is 9% I believe. ICICI is a recommendable bank for the car loan because when I was processing the loan with them, they delivered such a fast service. The customer service and response is normal.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 15, 2017
    • ICICI Bank Car Loan
      "Satisfactory services"
      0.5 5.0/5 "Blown Away!"
      The process at ICICI bank was good and quick and hassle free. I got the car loan within a week with a interest rate around 9.5%. The processing charges was also normal. The customer services and response was good with the collection of the documents too.
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      , bangalore
      Reviewed on Jun 15, 2017
    • ICICI Bank Car Loan
      "Nice experience"
      0.5 4.0/5 "Great!"
      I hold a credit card at ICICI bank and the features are always good, I get the regular offers and the credit limit is also to my satisfaction. The customer support team has always given attention to me when ever I reached out to them and the bills I get has always been clear.
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      , vadodara
      Reviewed on Jun 14, 2017
    • ICICI Bank Car Loan
      "Good in response"
      0.5 5.0/5 "Blown Away!"
      ICICI Bank done a good job on the car loan, I was contacted on time and given the details. I could not go ahead with the loan because I postponed my plans to buy a vehicle. The interest rate and processing charges was a bit on the higher side. Else the experience was good.
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      , new delhi
      Reviewed on Jun 12, 2017
    • ICICI Bank Car Loan
      "Satisfactory services"
      0.5 4.0/5 "Great!"
      ICICI bank has been good in the services and I am happy with the experience. I did not take the car loan as I postponed my plan. The process started off promptly and in all I had no issues. The interest rate and processing charges was normal when compared to other banks.
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      , mumbai
      Reviewed on Jun 12, 2017
    • ICICI Bank Car Loan
      "Great"
      0.5 4.0/5 "Great!"
      I have closed the car loan with the rate of interest as 9.25% in ICICI bank. Services were better one with the ICICI bank and I was satisfied. Interest rate was the only concern with the ICICI bank and I got the RC book and NOC in a day itself.
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      , chennai
      Reviewed on Jun 12, 2017
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    ICICI Used Car Loan is Rated as "Great!" by 1716 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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