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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.
- 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, 10th and 15th of every month and would depend on the date of disbursement. Payment due dates cannot be changed.
- You can make the Payments through:
- Direct Debit / ECS Mandates (for all ECS / RECS locations)
- Post Dated CTS Compliant Cheques (PDCs) (for all Non ECS/RECS locations)
- Payments through cash or credit cards are not accepted
- A full pre-payment of the loan is accepted. Part pre-payment is not allowed
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