|Type of Credit facility||Interest Rate and charges applicable|
|Cardless EMI Interest Rate||12% to 19%|
|Prepayment Charges||5% on the Principal Outstanding plus Goods and Services Tax (GST)|
|Additional Interest on late payment||Charges for late payment/additional interest: applicable rate + 24% per annum, plus applicable taxes, if any|
|Repayment Mode Swap Charges||Rs 500 per transaction plus GST|
|Loan Cancellation Charges||Rs 3,000 plus GST|
|EMI Bounce Charges||Rs 400 per bounce plus GST|
|Amortization schedule charges||Rs 200 per transaction plus GST|
|Statement of Account Charges||Rs 200 per transaction plus GST|
|Prepayment or foreclosure statement charges||Rs 100 per transaction plus GST|
|Duplicate No Objection Certificate / No Due||Rs 100 per schedule plus GST|
Interest Rate and Charges
- Specific interest rate applicable to a customer would be dependent on the segment, asset category, brand and schemes provided by the Original Equipment Manufacturers (OEMs) and the tenure,
- Service Tax (ST), Other Government taxes, levies, etc., will be applicable, as per the prevailing rates, in addition to the above mentioned charges.
- The charges or fees given in the above table are subject to change and the one recorded in agreement will be binding over the site.
- ICICI Bank reserves the right to revise the rate of interest and processing fee from time to time, at its sole discretion.
Interest Rate Range for April 2021 to June 2021:
|Type of Credit facility||Minimum||Maximum||Mean|
Note: Mean rate = Sum of rate of all Loan Accounts/Number of all loan amounts.
Annual Percentage Rate
The Annual Percentage Rate (APR) is a method to compute the annualised credit cost, which includes the interest rate and the processing fee.
The APR calculator does not include charges such as prepayment charges, etc.
To calculate the same, please click here to download the APR calculator.