ICICI Bank Car Loan in Chennai

About ICICI Bank Car Loan in Chennai

Chennai is one of the top cities of India and has an emerging population which has its own vehicle needs. People prefer to travel in their own car rather than taking a cab or public transport. ICICI bank offers eligible applicants in the city a car loan so that they can realise all their dreams. The product is offered to a salaried individual as well as a self-employed individual. ICICI bank has established more than 100 branches in the capital of Tamil Nadu.

ICICI Bank Car loan Chennai at a glance

The important details of ICICI Bank Car Loan Chennai have been given below.

ParticularDetails
Interest rate10.75% - 15.50%
Loan amountFor New Cars

Min amount : Lesser than ₹2,50,000

Max. amount : upto ₹ 10,00,000

For Pre-owned Cars: up to 80% on the valuation of the car.
TenureNew Cars: Upto 7 years

Pre-owned Cars: Upto 5 years
Processing feeNew Cars : ₹ 2,500 to ₹ 5,000

Pre-Owned Cars: 2% of loan amount or ₹6,000 whichever is lower
Pre-payment charge5% on principal outstanding or interest outstanding for unexpired period of loan (whichever is lower)

Eligibility criteria

The eligibility norms for an ICICI Bank Car Loan Chennai have been mentioned below. An applicant can only avail a loan from the bank if he/she is able to meet the said criteria.

For a salaried employee

  • The applicant should be between the age group of 23 to 58 years. It means he/she should be at least 23 years old whenever the loan is applied
  • The applicant should earn an annual income of at least ₹ 2,50,000
  • The employment stability should be more than two years
  • The applicant should be working with the current employer for a minimum period of one year

For a self-employed professional

  • The applicant should fall between the age bracket of 28 to 65 years old. It means he/she should have attained the age of 28 whenever the loan is applied. The loan has to be fully repaid by the time the applicant turns 65 years
  • The annual income of the applicant should be at least ₹ 2 Lakhs
  • The business should be stable for period of over three years

For a self-employed non-professional

  • The business should be stable for period of over three years
  • The Profit after Tax (PAT) should be at least ₹ 2 Lakhs

In case of Limited Companies, the Profit after Tax (PAT) should be at least ₹ 2 Lakhs and they must be existing for a period of at least three years.

Documents needed for ICICI Bank Car Loan Chennai

An applicant who wishes to successfully avail a car loan from the bank has to complete the process of documentation on time. The list of important documents for every category has been given below. Check it out.

For a salaried employee

  • Completely filled application form
  • Proof of Age- Birth certificate/ PAN card/  High school marksheet/ Passport
  • Proof of Identity- Aadhar card/ Passport/ Voter ID card/ Driving License/ PAN card
  • Photographs of passport size
  • Verification of the applicant’s signature- Passport/ Driving License/ PAN card
  • Proof of Address- Ration card/ Passport/ Telephone bill/ Electricity bill/ Rent agreement/ Water bill
  • Proof of Employment stability
  • Bank statement of the last six months
  • Proof of Income- Latest salary slip of the previous three months and Form 16

For a self-employed professional

  • Completely filled application form
  • Proof of Identity- Aadhar card/ Passport/ Voter ID card/ Driving License/ PAN card
  • Photographs of passport size
  • Proof of Age- Birth certificate/ PAN card/  High school marksheet/ Passport
  • Verification of the applicant’s signature- Passport/ Driving License/ PAN card
  • Proof of Address- Ration card/ Passport/ Telephone bill/ Electricity bill/ Rent agreement/ Water bill
  • Proof of Business stability
  • Bank statement of the last six months
  • Proof of Income- Income tax returns of the last three years

For a self-employed non-professional

  • Completely filled application form
  • Proof of Identity- Aadhar card/ Passport/ Voter ID card/ Driving License/ PAN card
  • Proof of Age- Birth certificate/ PAN card/  High school marksheet/ Passport
  • Proof of Ownership
  • Verification of the applicant’s signature- Passport/ Driving License/ PAN card
  • Proof of Address- Ration card/ Passport/ Telephone bill/ Electricity bill/ Rent agreement/ Water bill
  • Proof of Business stability
  • Proof of Income- Income Tax returns of the past two years and Profit & Loss account and Balance Sheet which is duly audited
  • Bank statement of the last six months
  • In case of partnership firms- Partnership deed along with a letter which has to be duly signed by all the available partners, thereby giving authority to one partner
  • In case of companies and societies- Memorandum and Articles of Association plus a Resolution by the board of directors

Check out Car Loan Chennai for more information.

Address of ICICI Bank Branches in Chennai

The list of ICICI Bank branches in Chandigarh has been given below along with their addresses, IFSC & MICR details and contact numbers.

BranchAddressIFSCMICRContact details
Cenotaph RoadNo., 1, Cenotaph Road, Rathna Nagar, Alwarpet, Chennai, Tamil Nadu 600018ICIC0000001600229002044 3366 7777
Nungambakkam110, Prakash Presidium, Nungambakkam High Road, Uthamar Gandhi Salai, Chennai, Tamil Nadu 600034ICIC0000009600229003044 3366 7777
Nanganallur2nd Main Rd, Ram Nagar, Nanganallur, Chennai, Tamil Nadu 600061ICIC0000054600229004044 3366 7777
Ashok NagarJawaharlal nehru road, First Avenue, Ashok Nagar, Chennai, Tamil Nadu 600083ICIC0000077600229005044 3366 7777
SanthomeBay Castle, No-, 30, Santhome High Rd, Basha Garden, Santhome, Chennai, Tamil Nadu 600028ICIC0000212600229021044 3366 7777
Alwarthirunagar153, Arcot Road, Sri Sai Square, Valasaravakkam, Alwarthirunagar, Chennai, Tamil Nadu 600087ICIC0000232600229022044 3366 7777
PorurNo:1 Mount Poonamallee Road, Shakthi Nagar, Chennai, Tamil Nadu 600116ICIC0000275600229024044 3366 7777
Nelson Manickam Road39, Nelson Manickam Road, Rajaram Mehta Nagar, Aminjikarai, Chennai, Tamil NaduICIC0000276600229023044 3366 7777
KilpaukNo 34, Balfour Road, Kilpauk, Chennai, Tamil Nadu 600010ICIC0000278600229025044 3366 7777
Adyar2, LB Rd, Sector 1, Adyar, Chennai, Tamil Nadu 600020ICIC0000350600229026044 3366 7777
Velachery137, LIC Colony Main Road, E B Colony, Velachery, Chennai, Tamil Nadu 600042ICIC0000385600229027044 3366 7777
Anna Nagar WestOld No : 664, New No13, School Road, Anna Nagar West, Chennai, Tamil Nadu 600101ICIC0000395600229028044 3366 7777

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