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Can I foreclose or prepay my Car Loan?
We charge prepayment fee of 5% on the outstanding principal amount and the Goods and Service Tax will be charged as applicable on the pre-payment fee.
Please note that 18% Goods and Service Tax (GST) w.e.f. July 1, 2017 will be applicable .
How can I foreclose my Car Loan / Two Wheeler Loan?
How do I repay the Car loan?
The loan can repaid through Post Dated Cheques drawn on ICICI Bank Ltd. Alternately, if you have a Bank account with ICICI Bank, you can issue a direct debit mandate, to your existing ICICI Bank account or even opt for an ECS option for the repayment.
How do I update my mailing address, mobile number or e-mail ID registered under my loan account?
Visit any ICICI Bank loan branch with a valid photo ID proof and submit an application.
Does ICICI Bank have a loan for the car I want?
ICICI Bank car loans are available for almost all passenger cars - New as well as Pre-Owned.
What is a Monthly Reducing Balance in Car Loan?
In the case of monthly reducing balance method, the principal gets reduced at the end of every month and the interest is calculated on the outstanding principal at the end of the month.
How can I obtain my un-banked PDC or Security PDCs?
In the event of the applicant's/s' wishes: to procure the post-dated cheques and / or security post dated cheques that remain un-banked at the end of the loan tenure / change of repayment mode; or details of such un-banked post dated cheques and / or security post dated cheques, the applicant/s must make a request for the same, within thirty days of closure of loan / change of repayment mode. If this is not done, ICICI Bank shall have the discretion / responsibility to destroy the un-banked post dated cheques including security post dated cheques without any further notice and ICICI Bank shall not have the obligation to return the same to the Applicant/s.
What are the lending rates for Car Loan?
The lending rates vary on the basis of car models and tenure selected.
Can I avail of a loan on my existing car?