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Description of Charges* Charges Amount
New Car Used Car
Non Refundable Loan Processing Fees Asset Segment/ Price Band Processing Fee Amt Processing Fee Amt
Select models /C ₹ 8,500 2% of loan amount or ₹ 15,000 whichever is lower
Entry & Compact / B ₹ 5,500
Mid Upper / B+ ₹ 7,000
Premium /A ₹ 7,500
Luxury / A+ ₹ 8,500
Loan Documentation Charges ₹ 800 + GST
Registration Certificate (RC) Collection Charges ₹ 700 + GST
Stamp Duty Actuals
Prepayment Charges 5% on principal outstanding
Charges for late payment of loans 2% per month on the outstanding installment
Swap Charges ₹ 500 per transaction
Bounce Charges ₹ 500 per transaction
Duplicate Repayment/Amortization 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
Valuation charges for Used Car ₹ 1000 + GST
Loan Cancellation Charges ₹ 3,000 per loan
Miscellaneous charges viz. charges incurred in filing legal suit, repossession charges, Non Maintenance of Mode of Payment (NMMP) charge, pick-up charges) wherein customer requests for a pickup of the payment, professional charges for availing services of professionals i.e. title search, valuation, etc., charges incurred in SARFAESI proceedings, paper advertisement charges, auction charges for repossessed asset, security guard charges for protection of repossessed assets, yard charges for parking the repossessed asset in authorised yard, enforcement charges for availing logistical support during repossession, charges incurred in sending different notices, charges levied for deposition of cheque in branches for the purpose of paying loan dues and any other charges (as applicable) that are not budgeted or specified, but are incurred by the bank on behalf of the customer. At actuals
Cash transaction charge for repayment of EMI dues at Branches ₹ 100
Information Utility Charges (Only for Corporate Cases) ₹ 300 + GST


  1. Good Service Tax (GST), Other Government taxes, Levies, etc., will be applicable as per prevailing rates in addition to the above mentioned charges.
  2. Loan Processing Fee (LPF) not mentioned here is part of Rate & Fees matrix communicated to customer at the time of loan application. Please refer www.icicibank.com for further details.
  3. The charges or fees given in above table are subject to change and the one recorded in loan application / agreement will be final binding.
  4. Stamp duty charges not mentioned here is charged as per actual expenses incurred while procuring the loan facility.


Part Prepayment Charges for Car Loans
Particulars Part prepayment criteria and charges
Eligibility No prepayment allowed for loan seasoning upto 6 months
Part prepayment allowed only to Salaried Segment customers or as per schemes offered at the time of loan application
Part prepayment charges i) 6% for loan seasoning above 6 months
ii) 5% for loan seasoning between 13 to 24 months
iii) 3% for loan seasoning above 24 months
Other Terms & Conditions i) Minimum part prepayment amount will be equivalent to one Equated Monthly Instalment (EMI)
ii) Maximum part prepayment amount will be equivalent to 25% of principal outstanding
iii) Part prepayment will be allowed only twice during a loan tenor
iv) Part prepayment will be allowed only once during a year

Range of Interest rates for Car Loans

Quarter ended at March - 2022 Minimum Maximum Mean
New Car Loan 6.75% 13.50% 7.65%
Used Car Loan 9.00% 17.01% 13.51%


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, 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.


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