Car Loan Tax Benefits and How to Claim It
A variety of loans, such as Education Loan and Home Loan, come with associated tax benefits for individuals and business owners. But are such benefits also available for loans taken for a car purchase?
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.
|Tenure of credit facility||12-35 months||36-84 months|
|Type of credit facility||Rate of interest*|
|New Car Loans||9.85%||7.90% to 8.80%|
|Used Car Loans||12.00% to 14.50%|
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