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Interest Rate and Charges
| Type of Credit facility | Interest Rate and charges applicable |
|---|---|
| Cardless EMI Interest Rate | 8.71% to 27.15% |
| Processing Fee | Nil |
| Service Charges | |
| Repayment Mode Swap Charges | ₹ 500/- per transaction |
| Amortization schedule charges | ₹ 200/- per transaction |
| Statement of Account Charges | ₹ 200/- per transaction |
| Prepayment or foreclosure statement charges | ₹ 100/- per transaction |
| Duplicate No Objection Certificate / No Due Certificate | ₹ 100/- per schedule |
| Prepayment Charges | 5% on principal outstanding |
| Penal charges | |
| EMI Bounce Charges | ₹ 500/- per bounce |
| Penal Charge for late payment | 5% per annum will be charged on the overdue EMI until repayment plus applicable taxes which may be payable pursuant to the applicable laws and terms and conditions |
| Legal & incidental charges | Incidental Charges are those expense that are not budgeted or specified but are incurred by ICICI Bank Limited on behalf of the Borrower. At Actuals. |
Note:
- GST and other govt. taxes, levies, etc. applicable as per prevailing rate will be charged over and above these charges at the discretion of ICICI Bank Limited.
- Specific interest rate applicable to a customer would be dependent on segment, asset category, brand and schemes provided by Original Equipment Manufacturer (OEMs) and tenure,
- The charges or fees given in 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.
- * or such other amount as may be specified by ICICI BANK LIMITED from time to time plus applicable taxes and other statutory levies
Interest Rate Range for Oct 2023 to Dec 2023:
| Type of Credit facility | Minimum | Maximum | Mean |
|---|---|---|---|
| Cardless EMI | 8.71% | 27.15% | 17.12% |
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 annualised credit cost which includes interest rate and 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.
