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Home » ICICI Bank » Car Loan |
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ICICI Car Loan |
ICICI Car Loan has helped a large number of borrowers to finance the car of their dream. The bank is one of the most preferred financiers for auto loans in India. Everybody dreams to own a car and ICICI Bank car loans are here to turn your dream into reality. The bank brings a number of flexible auto loan schemes having attractive interest rates and fast loan processing. ICICI auto loans are made available through more than 1,000 channel partners located in over 200 places. Getting car loan from the bank is convenient and quick. Borrowers can get the loan amount to purchase a new car from a wide range of car models that include Honda cars, Maruti cars, Fiat cars, Hyundai cars, Tata cars, Ford India and many others.
ICICI Car Loan Rates
Interest rates of car loans offered by the bank will vary depending on the basis of discounts offered by dealers and manufacturers. Moreover, certain factors such as the total loan amount, repayment tenure, credit history of the borrower and income status will play vital role in determining the auto loan rates. ICICI car loan interest rate is calculated on the basis of monthly reducing balance. ICICI Bank offers a minimum car loan amount of Rs. 1,00,000 to finance a new car. On the other hand, the maximum loan amount will be determined by the price of the car, model type and the profile of the borrower. ICICI will finance up to 90% of the total ex-showroom price of the vehicle.
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ICICI Car Loan Emi Calculator
ICICI provide car loan EMI calculator which is an effective tool that can help you find the best suitable loan term. This calculator can compute the monthly EMI that you will have to pay on a particular car loan term. In order to make the calculation, you are required to provide some information such as the loan amount, the rate of interest and the tenure of loan. ICICI car loan department offers auto loans at fixed rates where borrowers will have to pay a fixed repayment amount for the entire loan period.
ICICI Bank Car Loan Eligibility Conditions
The bank has certain eligibility conditions which the borrowers are required to meet in order to get the car loan amount. There are different requirements for salaried, self employed, partnership firm and private/public Ltd Co, applying for auto loan from ICICI Bank. A salaried individual must be above the age of 25 years at the time of loan application and upto 58 years at the time of loan maturity.
On the other hand, a self employed individual who is a proprietor, professional, director or partner can apply for the car loan if his age is above 28 years and below 65 years at the time of the maturity of the loan. Documents to be submitted along with the application includes income proof, income tax returns, identity proof, address proof, signature proof and partnership deed, in case of partnership firms.
ICICI Bank allows the auto loan borrowers to get their car loan account details online. Moreover, the Internet banking services allow them to make online payment of their monthly repayments and get loan statement online. To make car loan enquiry or to find more details on loan application status and pre closure, contact the ICICI car loan customer care helpline number at 1600-22-9191.
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