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
      "Could be more careful"
      0.5 2.0/5 "Expected more"
      Experience was good one with the ICICI bank for the car loan but there were some issues with the rate of interest negotiation. Customer service was really good with them and there were no worries with them and the response was an immediate one. Finally , I got the rate of interest as 9.45%, though lot of negotiation happened.
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      , bangalore
      Reviewed on May 19, 2017
    • ICICI Bank Car Loan
      "Loan disbursement process has to be improved"
      0.5 4.5/5 "Excellent!"
      ICICI takes a very long time to disburse the amount to the car dealer, they had collected the documents on time but done the process delay. ICICI interest rate is good they quoted 9% but offered only around 8.75% on car loan and also they sanctioned 100% .
      Was this review helpful? 0
      , new delhi
      Reviewed on May 19, 2017
    • ICICI Bank Car Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      The ICICI car loan is a bit expensive when compared with others, at present I had postponed the plan , I would be getting the loan after 2 months. The response and the follow up was prompt with ICICI bank. ICICI executives were about to collect the documents , after that they informed that I have just postponed my plan. The rate of interest is high with ICICI. Overall the service is average and it would be great if they could bring down their rates in future.
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      , nagpur
      Reviewed on May 19, 2017
    • ICICI Bank Car Loan
      "Much faster process"
      0.5 5.0/5 "Blown Away!"
      ICICI had done the car loan disbursement very fast within two days, disbursement was sent to the dealer, Their executives are very supportive they had offered competitive interest rate as per the market and they sanctioned 90% loan on the road value. Totally, It was a good experience in all.
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      , chennai
      Reviewed on May 19, 2017
    • ICICI Bank Car Loan
      "Good "
      0.5 3.0/5 "Satisfactory"
      I have closed the car loan with the ICICI bank annd the intereet rate was around 12.25% on that time., which was really huge. Services are good one with the ICICI bank and the response is also an average with them because of lengthy documentation process. I got the loan amount within fifteen days of time.
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      , ahmedabad
      Reviewed on May 17, 2017
    • ICICI Bank Car Loan
      "Good experience "
      0.5 4.0/5 "Great!"
      Experience was a good one with the ICICI bank for the car loan, which I have taken. Rate of interest was around 8.4% after lot of negotiation. Customer service was fine with the ICICI bank and it took lot of time to get the loan amount. Hardly, it took a month of time to get the loan , also there was some delay from my end too.
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      , faridabad
      Reviewed on May 17, 2017
    • ICICI Bank Car Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      Interest rate is pretty good for the car loan process from ICICI bank. I had taken a car loan about two years back. I am quite happy with the services of car loan process. They were simply good in processing the loan without any delay. I got proper service from them as well.
      Was this review helpful? 0
      , nagpur
      Reviewed on May 16, 2017
    • ICICI Bank Car Loan
      "Good Experience"
      0.5 4.0/5 "Great!"
      I had taken the car loan during the year 2007 from ICICI, they had offered me an interest rate of 12.4% on car loan. I got 100% loan at car on road value and they sanctioned the loan within 15 days of request and my loan got closed in 2010. I got the NOC from the ICICI on time.
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      , kolkata
      Reviewed on May 16, 2017
    • ICICI Bank Car Loan
      "Average response"
      0.5 3.0/5 "Satisfactory"
      I had a good deal on the interest rate and processing charges for the car loan at ICICI bank. The rate of interest was of 8.45% and and the processing charges was minimal. But the major drawback is the executives assigned was not responsive at all and on the day of disbursement they did not answer the calls.
      Was this review helpful? 1
      , hyderabad
      Reviewed on May 15, 2017
    • ICICI Bank Car Loan
      "Super fast process"
      0.5 5.0/5 "Blown Away!"
      It was a nice dealing with ICICI Bank for the car loan. I got the loan within two to three days. It was a fast process and I am also happy with the after loan services, it is smooth. The rate of interest was of 9.45% and the processing charges was minimal.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 15, 2017
    • ICICI Bank Car Loan
      "Good in Response"
      0.5 5.0/5 "Blown Away!"
      I approached ICICI bank for the car loan. When I submitted my loan application I got good service from them. There was no challenges to avail the loan from ICICI bank. Even they quoted a normal rate of interest which is very much satisfactory.
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      , faridabad
      Reviewed on May 15, 2017
    • ICICI Bank Car Loan
      "Satisfying service"
      0.5 3.0/5 "Satisfactory"
      When I had applied for car loan with ICICI bank, the response was really good and prompt. They gave a call and told that they will come and collect the documents, but immediately I told the executives that I am not looking for car right away. That was the reason I had postponed the car loan.
      Was this review helpful? 2
      , mumbai
      Reviewed on May 10, 2017
    • ICICI Bank Car Loan
      "Be Customer Oriented"
      0.5 3.0/5 "Satisfactory"
      ICICI bank denied my car loan application as I do not have salary account. Also I am getting my salary as cash. So the bank denied to provide the loan. Initially they provide a proper response and informed me about the car loan but I had to close my application.
      Was this review helpful? 1
      , ahmedabad
      Reviewed on May 10, 2017
    • ICICI Bank Car Loan
      "Better Service"
      0.5 4.0/5 "Great!"
      ICICI bank was good when I applied for a car loan. Not only ICICI bank, private banks will be always good in terms of giving proper response and customer support to the people. I had not faced any kind of issues or challenges with ICICI bank while processing the loan.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 10, 2017
    • ICICI Bank Car Loan
      "Good service but a bit high interest rate"
      0.5 4.0/5 "Great!"
      Rate of interest with the ICICI bank was bit high while compare with other bankers for the car loan, so I have not taken the car loan with them. I hope that by this weekend they will re-consider the rate of interest for the group employee.
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      , hyderabad
      Reviewed on May 10, 2017
    • ICICI Bank Car Loan
      "Very much satisfied"
      0.5 5.0/5 "Blown Away!"
      ICICI gave me best offer, they offered the interest rate of 8.5% on car loan and they sanctioned 100% loan on ex showroom price. I am very much happy with their service, I took the loan around Rs.6.15 lakhs and purchased MARUTI SUZUKI BALENO , I am very much happy with ICICI service.
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      , ahmedabad
      Reviewed on May 10, 2017
    • ICICI Bank Car Loan
      "Very good service"
      0.5 4.0/5 "Great!"
      I got the car loan with the interest rate of 9.1 % with ICICI bank. ICICI took around 4 days to disburse my car loan. The rate of interest is nominal with ICICI bank. I would like to say ICICI is doing very good service in concern the the car loans. Overall I liked there response.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on May 10, 2017
    • ICICI Bank Car Loan
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      I did not take the car loan with the ICICI bank because I have arranged the funds using their my own sources. Customer service with the ICICI bank was very good and everything was fine with them. In future, I would definitely like to go ahead with the ICICI bank.
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      , bangalore
      Reviewed on May 09, 2017
    • ICICI Bank Car Loan
      "Average "
      0.5 3.0/5 "Satisfactory"
      I did not take car loan with ICICI bank because of some other personal reason. Interest rate with the ICICI bank was up to market trend , also am okay with the interest rate. Customer service was fine with the ICICI bank however I would say that I had not completely experienced it.
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      , mumbai
      Reviewed on May 09, 2017
    • ICICI Bank Car Loan
      "Good Bank"
      0.5 5.0/5 "Blown Away!"
      ICICI is a good Bank. They are good enough in the financial marketing and they are providing a good service to the people. I preferred ICICI bank for my car loan and I applied with them too. I got a very good response from them but it is due to my sister marriage, I could not take a loan so I just postponed my plan.
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      , bhubaneshwar
      Reviewed on May 09, 2017
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    ICICI Used Car Loan is Rated as "Great!" by 1616 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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