Car Loan
ICICI Bank Car Loan Review 2026
ICICI customers who prefer digital car loan applications
★★★★★4.2
Last updated: 15 December 2025Key Highlights
✓Digital application via iMobile app
✓Pre-approved offers for existing customers
✓Finance up to 100% ex-showroom price
✓Flexible fixed or floating rate options
✓Used car financing also available
Interest Rates & Fees
Rates & Charges
| Interest Rate (Min) | 8.75% p.a. |
| Interest Rate (Max) | 11.5% p.a. |
| Interest Rate Type | Both |
| Processing Fee | Up to Rs 6,000 |
| Prepayment Charges | 5% of outstanding (fixed), nil (floating after lock-in) |
| Foreclosure Charges | 5% for fixed rate loans |
Loan Details
Loan Parameters
| Minimum Loan Amount | ₹1 Lakh |
| Maximum Loan Amount | ₹1 Crore |
| Minimum Tenure | 1 years |
| Maximum Tenure | 7 years |
| EMI per Lakh | Rs 1,586 per lakh for 7 years at 8.75% |
| Disbursal Time | Instant for pre-approved, 1–3 days for others |
Rating Breakdown
features
4.3/5
value
4.1/5
support
4.2/5
benefits
4.2/5
Pros & Cons
✓Pros
- ✔Instant approval via iMobile app
- ✔Rates starting at 8.75%
- ✔Loan up to Rs 1 crore
- ✔Flexible tenure up to 7 years
✗Cons
- ✘Processing fee up to Rs 6,000
- ✘Prepayment and foreclosure charges apply
- ✘Rates vary significantly by profile
Eligibility Criteria
- ●Age: 21 to 65 years
- ●Minimum net monthly income: Rs 20,000
- ●CIBIL score: 700+
- ●Salaried or self-employed
Documents Required
- 📄PAN Card
- 📄Aadhaar Card
- 📄Income proof (salary slips or ITR)
- 📄Bank statements (3 months)
- 📄Vehicle quotation from dealer
Frequently Asked Questions
ICICI Bank Car Loan offers interest rates ranging from 8.75% to 11.5% per annum (both rate). The actual rate depends on your credit profile, income, and existing relationship with ICICI Bank.
The processing fee for ICICI Bank Car Loan is Up to Rs 6,000. This is a one-time fee charged at the time of loan disbursement.
You can borrow up to ₹1 Crore with ICICI Bank Car Loan. The minimum loan amount is ₹1 Lakh.
Prepayment charges for ICICI Bank Car Loan: 5% of outstanding (fixed), nil (floating after lock-in). Foreclosure charges: 5% for fixed rate loans. Check with ICICI Bank for the latest terms.
ICICI Bank Car Loan typically takes Instant for pre-approved, 1–3 days for others for disbursal after application and document verification.
