Car Loans

Car Loan Repayment

ICICI Bank Carloans

Repayment Terms of your Car Loan

ICICI Bank Car Loans offers flexible schemes, attractive interest rates, and quick & hassle-free application process at the click of a mouse. At the same time, we ensure that the repayment terms are equally convenient for you.

ICICI Bank offers new car loans with fixed interest rate. In Fixed interest rate, the interest rate on the car loan will remain fixed during the tenure of the loan.

Car Loans

  • Repayment tenure ranges from 1 year to 7 years for new car loans.

  • You may change the tenure of the loan before the loan is disbursed. The interest rate & EMI would change accordingly.

  • The repayment due dates for the loan are 1st and 15thof every month and would depend on the date of disbursement. Payment due dates cannot be changed.

  • You can make the Payments through post-dated cheques (PDCs)

  • Repayment option through Direct Debit Mandates is also available for all ICICI Bank account holders.

  • Option of repaying through ECS is also available in select cities.

  • Payments through cash or credit cards are not accepted.

  • You may change the PDC's in case your Bank Account is changed . However, we would require verification of signatures by new banker. A nominal fee of Rs.500/- (Swap Charges) would be charged for exchange of cheques.

  • A full pre-payment of the loan is accepted. Part pre-payment is not allowed.

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Note: All charges are subject to Service Tax as applicable.