Car Loan Interest Rate

Loans & Advances - Indicative lending rates effective from April 03, 2014
Car Loans
Tenure of credit facility
Up to 23 months
24-35 months
36-84 months
Processing fee
Type of credit facility
Rate of interest
New Car Loans
12.75% to 15.00%
12.25% to 14.50%
10.75% to 12.50%
Loan amount less than Rs. 0.25 mn = Rs. 2,500
Rs. 0.25 to Rs. 0.39 mn = Rs. 3,500
Rs. 0.40 to Rs. 0.49 mn = Rs. 4,000
Rs. 0.50 to Rs. 0.99 mn = Rs. 4,200
Equal to and more than Rs.1.00 mn = Rs. 5,000
 
Type of credit facility
Rate of interest
Processing fee
Used Car Loans
13.75% to 17.00%
Rs. 6,000 OR 2% of loan amount, which ever is lower
   
Notes:
Specific interest rate applicable to a customer would be dependent on segment, asset category and location.
Stamp duty charges shall be extra as applicable.
Additional documentation charges of Rs.350/- applicable.
ICICI Bank reserves the right to revise the rate of interest and processing fee from time to time, at its sole discretion.