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ICICI Bank provides car loans for both new and old cars. Here is useful information regarding ICICI Bank car loans.

Cars India : Loans : ICICI Bank

ICICI Bank

ICICI Bank is the No. 1 financier for car loans in India. It has a network of more than 1800 channel partners in over 1000 locations. The bank has tie-ups with all leading automobile manufacturers in India to ensure the best deals. ICICI Bank offers flexible schemes and quick processing.

Eligibility for Car Loans

Particulars	Salaried Individual	Self-Employed Individual	Partnership Firm	Private / Public Ltd Co
Age Criteria	The applicant should be at least 21 years old at the time of application, and below 58 years of age at time of maturity of the loan	Any Proprietor, partner, professional or director above 21 years of age but below 65 at the time of the loan's maturity	-	Limited companies should have been in existence for at least 2 years
Income Criteria	Gross annual salary above Rs 1 lakh p.a	Gross annual income above Rs 60,000	Firm should have a minimum PAT (profit after tax) income of Rs 60,000	Minimum PAT (profit after tax) of Rs 60,000

New Car Loan
The bank finances upto 90% of the ex-showroom cost of the car. The loan amount also depends on the car model. Minimum loan amount for new car loan is Rs.1 lakh.

Used Car Loan
For a used car the bank finances up to a maximum of 85% of the valuation of the car. Minimum loan amount for a used car loan is Rs. 75000.

The tenure of the loan ranges from one to seven years for new cars and from one to five years for used cars.

Documentation Required

Salaried Individual	Self-Employed Individual	Partnership Firm	Private / Public Ltd Co
Application form	Application form	Application form	Application form
Photograph	Photograph	Photograph of signing partner	Guarantor's photograph (for private limited company only)
Proof of bank account continuity	One proof of income (ITR for the last two years)	Last two years' income proof (audited account or ITRs + CA certified financials)	Last two years audited financials
One income proof for the last two years (ITR, Form 16, salary slip)	One proof of residence (driving license / voters' identity card / ration card / passport / utility bills for the last 3 months)	Partnership deed	Certified true copy of the MOA & AOA
One proof of identity (driving license / voters' identity card / passport / PAN card / photo credit card / photo ration card)	One proof of residence (driving license / voters' identity card / ration card / passport / utility bills for the last 3 months)	Partners authority letter	Board resolution (format available on request)
One proof of residence (laminated driving license / voters' identity card / photo ration card / passport /utility bills for the last 3 months / company ID - limited company or government / PAN card)	One proof of office address (utility bill / lease deed / excise or sales tax receipt / Shops and Establishment Act Registration)

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