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| Charges & Interest | Amount |
|---|---|
| Interest | |
| i. Additional Interest | 2% per month on overdue EMI |
| Penal Charges | |
| i. Prepayment charges | 5% + applicable GST on the Principal outstanding |
| ii. Bounce Charges | 400 + applicable GST |
| iii. Loan Cancellation Charges | 2000 + applicable GST |
| Service Charges | |
| i. Duplicate Repayment/Amortization schedule charges | 500 + applicable GST |
| ii. Statement of Account charges | 200 + applicable GST |
| iii. Prepayment statement charges | 100 + applicable GST |
| iv. Duplicate No objection certificate / No due certificate charges | 500 + applicable GST |
| v. Revalidation of No objection certificate charges | 500 + applicable GST |
| vi. Swap charges | 500 + applicable GST |
| vii. Loan documentation charges | Normal Bikes: 2.25% of loan amount + applicable GST. Super Bikes: 2% of loan amount or 4000 whichever is lower + applicable GST. |
| viii. Registration Certificate (RC) Collection Fees | 499 + applicable GST |
| ix. Information Utility Charges (Only for Corporate Cases) | 300 + applicable GST |
| x. Cash Transaction Charges (for repayment of EMI dues in cash at branches) | 100 + applicable GST |
| xi. Processing fees | Premium Vehicles - 4.75 % of Loan amount + applicable GST. Super Premium Vehicles - 2.5 % of loan amount + applicable GST (Includes Loan documentation charges also) |
| xii. Stamp duty charges | At Actuals as per State Stamp Duty Act along with applicable taxes (if any) |
Important points:
- Goods and Services Tax (GST), Other Government taxes, Levies, etc., will be applicable as per 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 the agreement, will be binding over the site
- Interest Reset clause: Not Applicable
- The charges are applicable for all customers from Mar 31, 2016
- Stamp duty charges shall be extra, as applicable
- 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 Two Wheeler / Super Premium bike Loan
| Quarter ended at March - 2022 | Minimum | Maximum | Mean |
|---|---|---|---|
| Two Wheeler / Super Premium bike Loan | 9.00% | 28.00% | 19.50% |
Note:
- - The range of interest rates provided above is with respect to loans to individuals disbursed during Quarter 4 - FY: 2021-22.
- - It includes fixed rate of interest and is based on factors such as customer relationship, asset segment, tenure of loan 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 the annualised credit cost, which includes the interest rate and the loan origination fee.
To calculate the same, please click here to download the APR calculator.
