|
FAQs
What are the
loan tenure options?
The tenure of the loan
can range from a period of six months to sixty months depending
on the product and your requirements.
Top
What are the
loan tenure options?
The tenure of the loan
can range from a period of six months to sixty months depending
on the product and your requirements.
Top
How is the
interest charged/calculated?
Interest is charged
on a flat rate based on the scheme applicable for the particular
product.
Top
Do I have
to pay any additional charges?
Additional charges
are applicable for specific products and are nominal in nature.
Top
What documents
do I need to submit to avail a Commercial Vehicle Loan?
To avail a Commercial
Vehicle Loan you will have to submit the following documents:
- Proof of Address e.g. Passport,
Ration Card, Voters ID
- Proof of Experience in the relevant
area
- Track Record of past loans if availed
- Bank Statement
- ITR in case of specific category
of customers
- Additional documents like the Financial
statements for the last two years
- Transportation Contracts to be
submitted for higher quantum of funding.
Top
How do I
approach ICICI Bank for a Commercial Vehicle Loan?
You can approach us in any of the following ways:
Top
How much time
will it take for my loan to be approved?
The loans are generally
approved within 24 to 48 hours of submission of complete documents,
however the time taken may vary depending upon the nature of the
loan, quantum of funding and location.
Top
Who
can be the co-applicants for the loan?
You can have the following
as your co-applicants depending upon your status:
- Blood relatives in case of individuals.
- Partners in case of Partnership
firms
- Directors in case of Private Ltd
companies
Top
Is a personal
guarantor a must?
Based on your profile and credit strengths
the requirement can be waived, however in other cases you may be
required to provide a personal guarantor.
Top
What
security/collateral do I have to provide?
No additional collateral
required other than the vehicle on which the funding is extended.
Top
If I do not
meet all the criteria for the loan, can I still avail of a loan?
Yes you can, your application
will be considered based on the credit strength of your co-applicant
Approval will be at the sole discretion of ICICI Bank Ltd.
Top
Do I need
to open an account with ICICI Bank for availing and/ or servicing
the loan?
We will encourage you
to start a banking relationship with us so that we will be able
to offer host of other value added services, which are complementary
to the loan, however opening an account with us is not mandatory.
Top
What are the
stages involved in taking a loan?
The various stages
involved are:
- Application
- Discussion on specific requirements
- Evaluation and Approval
- Documentation
- Completion of formalities and disbursement.
Top
|
