ICICI Car Loan: How It Works
ICICI finances up to 100% of the on-road price on both new and used cars, unusual for a used-car loan where most lenders cap funding well below the vehicle value, with repayment stretched over up to 7-8 years.
Eligibility: Salaried and self-employed applicants aged roughly 25-58 (salaried) or up to 65 (self-employed); a CIBIL score of 750+ meaningfully improves the rate offered.
No collateral beyond the car itself is required, and used-car funding is notably more generous than most competing banks. The EMI above assumes a starting rate near 9.1%, adjust the slider to match whatever rate ICICI actually quotes you, since car loan pricing shifts based on your credit score, the car's on-road price, and whether it's new or used.
Frequently Asked Questions
What is ICICI Car Loan?
ICICI finances up to 100% of the on-road price on both new and used cars, unusual for a used-car loan where most lenders cap funding well below the vehicle value, with repayment stretched over up to 7-8 years.
Am I eligible for this specific scheme?
Salaried and self-employed applicants aged roughly 25-58 (salaried) or up to 65 (self-employed); a CIBIL score of 750+ meaningfully improves the rate offered.
Does ICICI finance used cars too?
Most banks, ICICI included, offer separate new-car and used-car loan products with different rates and lower loan-to-value ratios on used cars. Check which product this calculator's default rate applies to before comparing it against another lender's used-car quote.
Disclaimer: CalculatorWala is not affiliated with ICICI Bank. Scheme names, rates, and eligibility criteria are based on publicly available information and change periodically. Please verify current terms directly with ICICI before making any decision.