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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
Entry /C ₹ 3,500 2% of loan amount or ₹15,000 whichever is lower
Mid Lower/ B ₹ 4,500
Mid Upper / B+ ₹ 6,500
Premium /A ₹ 7,000
Luxury / A+ ₹ 8,500
Documentation Charges ₹ 650 + GST
Registration Certificate Collection Charges ₹ 550 + GST
Stamp Duty Actuals
Prepayment Charges 5% on principal outstanding or interest outstanding for unexpired period of loan (whichever is lower)
Part Pre payment charges* 6% + GST on amounting getting part prepaid subject to the below conditions
  • Minimum prepayment will be equivalent to 1 EMI amount
  • Maximum prepayment will be equivalent to 25% of principal outstanding
  • Prepayment is allowed only twice during the loan tenor with a gap of 12 months.
Charges for late payment of loans 2% per month on the outstanding installment
Swap Charges ₹ 500 per transaction
Bounce Charges ₹ 500 per transaction
Amortisation 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 ₹ 800 + 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 ₹ 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. The charges or fees given in above table are subject to change and the one recorded in agreement will be binding over the site.
  3. Interest Reset clause: Not Applicable.
  4. *Part pre-payment facility is available only to Salaried customers.
  5. Stamp duty charges shall be extra as applicable
  6. ICICI Bank reserves the right to revise the rate of interest and processing fee from time to time, at its sole discretion
  7. The Bank would be levying a Cash Transaction Charge of Rs. 100 +GST (subject to change with due intimation) from the customers visiting ICICI Bank branches for repayment of their EMI dues in Cash

For more information, please visit the nearest ICICI Bank branch or call our Customer Care.


Range of Interest rates for Car Loans

Quarter ended on September-2022 Minimum Maximum Mean
New Car Loan 7.75% 12.50% 8.46%
Used Car Loan 11.00% 16.01% 13.96%



  • The range of interest rates provided above is with respect to loans to individuals disbursed during Quarter 2 - FY: 2022-23.
  • 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.