Car Loan

Service Charges

If you are looking for flexible schemes, quick processing of your loans, attractive interest rates at the click of a mouse, then your search ends here. ICICI Bank Car Loans is the Most Preferred Financier for car loans in the country and offers you all the above with unbelievable ease.

Description of Charges*Charges Amount
New CarUsed Car
Non Refundable Loan Processing Fees Gross Loan Amt Processing Fee Amt Processing Fee Amt
<2.5 Lakh ₹ 2,500 2% of loan amount or ₹6,000 whichever is lower
2.5 Lakh to 3.9 Lakh ₹ 3,500
4 Lakh to 4.9 Lakh ₹ 4,000
5 Lakh to 9.9 Lakh ₹ 4200
>10 Lakh ₹ 5000
Documentation Charges ₹ 350
CIBIL Report Charges ₹ 50
Registration Certificate Collection Charges ₹ 350
Stamp Duty Actuals
Part Prepayment Charges and Terms Part prepayment of the loan can be done as follows:
1. Part prepayment is not allowed for cases with loan seasoning upto 6 months
2. 6% of loan amount for cases with loan seasoning of 7 to 12 months
3. 5% of loan amount for cases with loan seasoning of 13 to 24 months
4. 3% of loan amount for cases with loan seasoning above 24 months
5. Minimum amount that can be part prepaid should be equivalent to one Equated Monthly Installment (EMI)
6. Maximum amount that can be part prepaid should be 25% of principal outstanding
7. Part prepayment is allowed only twice during the loan tenure and once during a year
Full Prepayment Charges 5% on principal outstanding or interest outstanding for unexpired period of loan (whichever is lower)
Charges for late payment of loans 2% per month on the outstanding installment
Swap Charges ₹ 500 per transaction
Bounce Charges ₹ 500 per transaction
Amortisation Schedule Charges ₹ 500 per schedule
Statement of Account Charges ₹ 200 per statement
Prepayment Statement Charges ₹ 200 per statement
Duplicate No Objection Certificate (NOC)/No Due Certificate (NDC) Charges ₹ 500 per NOC/NDC
NOC for conversion from Petrol to LPG/CNG ₹ 500 per NOC
Revalidation of NOC Charges ₹ 500 per NOC
NOC to convert from Private to Commercial & Commercial to Private Registration ₹ 2,000 per NOC
Loan Cancellation Charges ₹ 3,000 per loan



  1. Service Tax (ST), Other Government taxes, Levies, etc., will be applicable as per prevailing rates in addition to the above mentioned charges.
  2. The charges or fees given in above table are subject to change and the one recorded in agreement will be binding over the site.
  3. Interest Reset clause: Not Applicable.
  4. The above mentioned charges would be applicable for existing customers from March 31, 2016
  5. Part pre-payment facility is available only to Salaried customers.
  6. Stamp duty charges shall be extra as applicable
  7. Additional documentation charges of Rs.350/- applicable
  8. ICICI Bank reserves the right to revise the rate of interest and processing fee from time to time, at its sole discretion

For more information, please visit the nearest ICICI Bank branch or call our Customer Care.

Range of Interest rates for Car Loans

Quarter ended on September - 2016MinimumMaximumMean
New Car Loan 9.25% 17.94% 9.98%
Used Car Loan 11.00% 18.04% 14.54%



  • The range of interest rates provided above is with respect to loans to individuals disbursed during Quarter II - FY: 2016-17.
  • It includes fixed rate of interest and is based on factors such as customer relationship, car segment and tenure of loan etc.
  • Interest rate for used car loan is based on age and segment of car, tenure of loan and product variant like top up, refinance etc.
  • It excludes subsidy and government schemes.
  • Mean rate = Sum of rate of interest of all loan accounts / Number of all loan accounts.

Annual Percentage Rate

The Annual Percentage Rate (APR) is a method to compute annualized credit cost which includes interest rate and loan origination fee.


To calculate the same, please click here to download the APR calculator.