Highlights

• Up to 100% of the ‘on-road’ cost on select models and up to 95% of the ex-showroom price on others.
• No income proof needed for car loans where a minimum 20% of the cost is contributed by the borrower.
• Credit card holders with more than a year with a good repayment record can get loan up to 90% of the ex-showroom price of the car without income documents.
• Car loan for 100% of the ex-showroom price for fixed deposit holders with ICICI Bank, without income proof.
• Car loan tenure available for up to 7 years
  

Loan Amount

ICICI Bank finances upto 95% of the ex-showroom cost of a new car. Minimum loan amount for new car loan is Re1 lakh.

For used cars, ICICI Bank finances up to 90% of the market value of the car. Minimum loan amount for a used car loan is Rs. 75,000. The car should not be more than 8 years old at the time of maturity of the loan.

Margin

New / Used vehicles: 10% to 15% of the on the road price.

Documents Required

Income proof:

• Salaried individuals – Latest Salary slip or salary certificate. Form 16 of the previous Financial Year or latest Income Tax Returns.
• Self-Employed individuals: Income Tax Returns of 2 previous financial years.
• Partnership Firms, Societies & Companies: Income Tax Returns of 2 previous financial years along with Profit & Loss Account Statements and Balance Sheets of both years.

Documents supporting customer information:

• Identity Proof, Signature Proof and Address Proofs as per ICICI Bank norms (Our representative will help you choose suitable documents).

Other documents:

• For Partnership Firms: Partnership deed and Letter signed by all partners authorizing one partner to execute the required Car Loans | Car Overdraft.
• For Societies and Companies: Resolution by Board of Directors (or such managing body) & Memorandum & Articles of Association (or Society/Trust deed).