Car Loans to NRIs

Want to buy a Car in India?

ICICI Bank Car Loans is the No.1 financier for automobiles in India and has the widest network for giving car loans.

With our preferred financier status with all leading car manufacturers in India, fast turnaround time and wide range of schemes we guarantee our customers the Best Deal on their car loan every time.

Product Features

Buying a car has never been so easy! Our products have revolutionized the way Indians look at car loans.

Download Documents

Download the documents required for a car loan here. Please read the Product Features and Application Process links completely before you start filling up the documents.

Application Process of your Car Loan

Car Loans from ICICI Bank are extremely convenient, flexible and quick. With more than 1800 channel partners in over 1000 locations, we reach out to millions of customers and help them realise their dream of possessing a car.

Keep It Simple and Swift. That's the idea behind the easy and quick application process of ICICI Bank Car Loans. We have multiple channels for you to access our car loan services. You can call us on the contact numbers given below, apply online, send us an email, cal for our representative to visit you, visit our bank centre or SMS us your interest.

Car Loans | Car Overdraft

Car Loans

	Our representative will meet you at your convenience to assist you with the documentation and other terms.
	The loan will be disbursed within one day of submitting all the required post-sanction documents.
	If the vehicle is readily available with the dealer, you can get your car as soon as the disbursal is made to the dealer. However ICICI Bank is in no way responsible for car deliveries as they are regulated by the car manufacturer's delivery schedules.
	You can retain the original Registration Certificate, Invoice and the Insurance Policy. We simply require a photocopy of these documents within 30 days of getting your loan disbursement.
	If you wish to cancel your loan application any time before the loan is disbursed, you may do so by informing the representative who has collected your documents or send us a written request.
	You may contact the nearest ICICI Bank branchfor the best deal available on the car of your choice. We have an extensive network of associates offering our loan products too.
	You may also contact us by
	- Click here to reach our call centre nearest to you or call our Toll Free number 1600-22-9191. - Sending an SMS with the message "carloan " to 5676766, for eg. SMS "carloan mumbai" if you stay in Mumbai. - Write to us using the "Email Us" option - Click here to apply online. - In case you are located in a remote location and wish to contact us directly click here .

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Car Overdraft

	You may contact our Toll Free number 1600-22-9191 for all sales / product related queries. OR
	Click here to apply online.
	Click here to reach our call center nearest to you.
	SMS "carloan " to 5676766, for eg. Sms "carloan mumbai" if you stay in Mumbai.

Documents required for your Car Loan

At ICICI Bank Car Loans, we offer the most convenient, flexible & quick car loan at the click of a mouse. Keeping your convenience in mind, we ask you for minimal mandatory documents for the sanctioning of your car loan.

Car Loans | Car Overdraft

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:

Partnership Firms: Partnership deed and Letter signed by all partners authorizing one partner to execute the required Car Loans | Car Overdraft. Societies and Companies: Resolution by Board of Directors (or such managing body) & Memorandum & Articles of Association (or Society/Trust deed). Our representative will help you with the formats of documents and the information required.

Service Charges for Car Loans

If you are looking for flexible schemes, quick processing of your loans, attractive interest rates at the click of a mouse, then your search ends here. ICICI Bank Car Loans is the No. 1 financier for car loans in the country and offers you all the above with unbelievable ease.

Our car loan interest charges differ according to the car model, the tenure of the loan, the customer and his location.

Description of Charges	Car Loans
Loan Processing Fees Charges / Renewal Charges	New Car Gross Loan Amt Processing Fee Amt Documentation Charges <2.5> Rs.1750/- Rs.350/- 2.5 L to 5 L Rs.2250/- Rs.350/- 5 L to 10 L Rs.3100/- Rs.350/- 10 L Rs.4000/- Rs.350/- Used Car- Rs.1850/- for all the gross loan amounts. For Special Models, 2% of the Gross Loan Amount. Origination charges not toexceed .1% of the loan amount
Stamp Duty	Actuals
Prepayment Charges	5% on the principal outstanding
Solvency Certificate	N.A.
Charges for late payment (loans)	2% per month
Charges for changing from fixed to floating rates of interest	N.A.
Charges for changing from floating to fixed rates of interest	N.A.
Cheque Swap Charges	Rs. 550/-
Document Retrieval Charges	N.A.
Cheque bounce charges	Rs. 200/-

Note :

• Origination Charges are included in the Advance installments/ First installment.
• Service Tax and other govt. taxes, levies, etc. applicable as per prevailing rate may be charged over and above these charges at the discretion of ICICI Bank.
• The condition/IRR/PF is subjected to change and the one recorded on the agreement will be binding over this site.

Car Overdraft

Salaried Individual	Self-Employed Individual	Partnership Firm	Private / Public Ltd Co
Above 21 years of age but below 60 at the time of the loan's maturity	Any Proprietor, partner, professional or director above 21 years of age but below 65 at the time of the loan's maturity	-	Limited companies should have been in existence for at least 2 years
Gross annual salary above Rs 1 lakh p.a	Gross annual income above Rs 60,000 p.a.	Firm should have a minimum PAT (profit after tax) income of Rs 60,000	Minimum PAT (profit after tax) of Rs 60,000

Eligibility Terms for your Car Loan

Car Loans

Particulars	Salaried Individual	Self-Employed Individual	Partnership Firm	Private / Public Ltd Co
Age Criteria	The applicant should be atleast 21 years old at time of application, and below 60 years of age at time of maturity of the loan	Any Proprietor, partner, professional or director above 21 years of age but below 65 at the time of the loan's maturity	-	Limited companies should have been in existence for at least 2 years
Income Criteria	Gross annual salary above Rs 1 lakh p.a	Gross annual income above Rs 60,000	Firm should have a minimum PAT (profit after tax) income of Rs 60,000	Minimum PAT (profit after tax) of Rs 60,00

Loan Enhancement

To enhance your loan amount, the certified income of the co-applicant can be considered, if requested by the applicant.

The co-applicant can be the spouse or son/daughter living in the same city.

Similarly, in case of a partnership firm or a limited company one of the partners or a director can be taken a co-applicant / guarantor for increasing the loan amount

However, in both cases, the asset has to be registered in the name of a single owner, not joint ownership.

Car Overdraft

A maximum overdraft facility of upto 90% of the value of the car may be availed subject to the above limits ( Car value is determined through a valuation )

Factors affecting your Car Loan Amount

Car Loans from ICICI Bank are extremely convenient, flexible and quick. With more than 1800 channel partners in over 1000 locations,
we reach out to millions of customers and help them realise their dream of possessing a car.

We offer Car Loans for new as well as used cars as per your need. We offer a minimum of Rs. 75,000 for a used car and Rs. 1,00,000 for
a new car. Higher car loan amounts are also disbursed according to the model of the car.

Car Loans

New car

	We finance upto 95% of the ex-showroom cost of the car.
	The Loan amount also depends on the car model. Higher loan amounts are available under specific enhanced income eligibility criteria.
	Minimum loan amount for new car Loan is Rs.1 lac.

Used car

	For a used car, we finance up to a maximum of 90% of the valuation of the car
	Minimum loan amount for a used car loan is Rs. 75000/-