ICICI Bank car loan overview
An ICICI Bank car loan may finance an eligible new or used vehicle according to the bank's current product rules. This guide uses ₹25 Lakh as a comparison amount and helps buyers look beyond the showroom EMI. Confirm model eligibility, funding percentage, rate and loan limit through an official ICICI Bank channel.
Start with the true on-road cost
- Ex-showroom price and registration
- Insurance and permitted accessories
- Down payment from your own funds
- Fuel, maintenance, parking and annual insurance renewal
Eligibility and vehicle factors
The bank may assess age, employment or business stability, verified income, existing EMIs, credit record and banking behaviour. Vehicle model, age, valuation and authorised dealer or seller documentation may affect funding, especially for a used car.
Documents generally required
Applicants may need PAN, KYC, photographs, bank statements and salary or business-income proof. Keep the quotation or pro-forma invoice, booking receipt and vehicle-related papers ready. Used-car cases can require registration, insurance, valuation and ownership-transfer documents.
Rate, tenure and hidden-cost check
Ask for the annual percentage rate, processing and documentation fees, advance EMI, insurance conditions, bounce charges and foreclosure rules. A longer tenure reduces the EMI but may materially increase total interest. Compare the net financed amount with the total repayment.
Application process
- Finalise a realistic vehicle budget before visiting the dealer.
- Check ICICI Bank's official offer and eligibility route.
- Submit accurate income and obligation details.
- Review the Key Fact Statement and repayment schedule.
- Confirm payment goes to the authorised seller and retain all receipts.
Affordability test
Keep the car EMI within a budget that also covers running costs and emergency savings. The ₹25 Lakh amount is a planning figure, not guaranteed sanction or a permanent product maximum. ICICI Bank determines final eligibility and terms.