Interest Rate and Charges

Type of Credit facilityInterest Rate and charges applicable
Cardless EMI Interest Rate 11% to 19%
Processing Fee Nil
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


  • 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 October 2021 to December 2021:

Type of Credit facilityMinimumMaximumMean
Cardless EMI 11.17% 19.48% 15.84%

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.

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