ICICI BANK USED CAR LOAN

ICICI BANK USED CAR LOAN

Want to buy your dream Car today? Looking for pre-owned car loan in Delhi? Then why not explore ICICI Bank Used Car Loan offers. Find out the best Used Car Loan from ICICI Bank that will meet your requirement of having a car.
ICICI Bank offers Used Car Loan for the purchase of used cars. The interest rate charged by ICICI Bank ranges from 15.50% to 17.00% depending on the segment of the vehicle.

Why Used Car Loan from ICICI Bank?

Apply online for ICICI Bank Used Car Loan which provides Used Car loan at effective interest rates. With faster processing and quick disbursal ICICI Bank Used Car loan makes it possible to own wide range of certified/pre-owned cars quite conveniently.

If you have a set budget and want to go for used car than ICICI Bank may be your lender to your dreams:

  • 1. Loan up to 80% of the valuation of the car
  • 2. Loan tenure up to 5 years
  • 3. Attractive and competitive rate of interest
  • 4. Easy documentation
  • 5. No hidden charges
  • 6. Quick processing

Fees and Charges

The mentioned below are the fees and charges applicable which are levied by Axis Bank:
TYPES OF FEESCHARGES APPLICABLE
Interest Rate15.50% to 17.00% p.a.
Lowest EMI Per LakhRs. 1,699 per lakh
Repayment Period5 years
Documentation ChargesRs. 550 + GST
Maximum Loan amountMaximum of 100% ex showroom price
Cheque Swapping ChargesRs. 500
Amortization Schedule ChargesRs. 500
Cheque Bounce ChargesRs. 500
Legal/Incidental Charges At actuals
Stamp DutyActuals
Loan Cancelation ChargesRs. 3000 per loan
Prepayment Charges5%

Advantages of ICICI Bank Used Car Loan

ICICI Bank provides Used Auto Car loan with the best interest rates in India. The bank provides you with the numerous facilities and advantages to choose it as your lender when compared with other options

Check out the benefits and features offered by ICICI Bank:

  • 1. Available for both salaried and self-employed.
  • 2. Special rates for existing ICICI Bank account holders.
  • 3. Loan granted to age group between 23 to 70 years.
  • 4. Maximum tenure of loan is 5 years
  • 5. Minimal documentation and quick disbursal
  • 6. Faster processing of loan
  • 7. Instant approval
  • 8. ICICI Bank also provides insurance cover for Loan Liability, repayable along with EMI for the car.

Eligibility criteria for applying for ICICI Bank Used Car loan

Loan application can be instantly approved online if you meet the required eligibility conditions for availing the loan. Below mentioned are the prerequisites you need to meet for availing the Used Auto Car loan in India:

  • 1. Applicant must be of at least 23 years of age
  • 2. Applicant should be less than 70 years of age
  • 3. Applicant has to be salaried of self-employed with regular income
  • 4. Applicant must earn more than minimum monthly income required.

Documents required for applying for a Used Car Loan form ICICI Bank

Salaried EmployeeSelf-Employed
Duly filled up Loan Application formDuly filled up Loan Application form
2 Passport sized photographs2 Passport sized photographs
Identity Proof – Passport/ Driving License/ Voter ID/ PANIdentity Proof – Passport/ Driving License/ Voter ID/ PAN
Residential Address Proof – Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), PassportResidential Address Proof – Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport
Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debitBusiness proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile

Procedure for applying for ICICI Bank Used Car Loan Online

One can apply online for Used Car loan through our website with few simple steps by registering online:

  • 1. Enter the required details including your employment type, name, e-mail address, city you are currently living in, type of business, annual income, required loan amount, and mobile number.
  • 2. Provide your consent.
  • 3. Choose ICICI Bank as your Car Loan partner.
  • 4. Fill in the form by providing some basic details like your gender, marital status, PAN Number, and others and click proceed.

Know more about ICICI Bank Used Car Loan – FAQs

Q. What is car loan interest rate offered by Axis Bank?

A. As per current interest rates, Axis Bank car loan interest rates are in the range of 9.25 % to 11.50%.

Q. What are the loan tenure options offered by ICICI bank?

A. The tenure of the loan offered by ICICI Bank IS up to 5 years.

Q. How is interest charged by the bank?

A. Bank charges interest on monthly reducing balance basis.

Q.Q. How much car loan I can borrow from ICICI Bank?

A. ICICI Bank offers you 100% of ex-showroom price of car as loan.

QUICK OVERVIEW
Apply online at interest rate starting @ 15.50% p.a.
Flexible tenure of 5 years
Minimal documentation
Quick approval and disbursal rate
Hassle-free and transparent process