SUITABLE FOR

Getting quick funds without selling your car

  • Competitive interest rates

  • Minimal documentation

  • Quick and easy processing

  • No additional collateral.

Things you should know

  • Eligibility

    Available for ICICI Bank Car Loan customers. Refinance is available for cars with NIL outstanding and that are not hypothecated, i.e. are not already used as collateral.

  • Loan Amount and Usage

    Top-up for personal or business needs. Refinance up to 140% of the car’s value.

  • Interest and Repayment

    Competitive rates with flexible repayment options. View Interest Rates

  • Quick Processing

    Minimal paperwork.

About Loan Against Your Car

Eligibility Criteria for taking loan against car

Existing ICICI Bank Car Loan customers can apply. The application process is quick and hassle-free.

How to apply for a Loan Against a Car?

Customers can apply for a Loan Against a Car through ICICI Bank’s digital channels or by visiting a branch. The process involves submitting basic personal, income, and vehicle related details, followed by verification and assessment. Once approved, the loan is disbursed as per Bank guidelines.

Applicable Fees and Charges

Applicable charges may include processing fees, valuation charges, and other costs as per the ICICI Bank schedule of charges. Details are shared during the application.

What is Car Loan Refinance

Get a loan up to 140% of your car’s value. Available for cars with no outstanding loans and that are not already in use as collateral.

What is Car Loan Top Up

Get extra funds on your existing ICICI Bank Car Loan for your needs without additional collateral.

FAQs

What is Loan Against Car?

ICICI Bank offers a Loan Against Car for existing car owners to meet personal or business expenses. You can access funds without selling your car or providing additional collateral, with competitive interest rates and flexible repayment options.

Can I apply for a Top-up Loan on my existing Car Loan?

Yes, ICICI Bank offers a Car Loan Top-Up for existing customers. This loan can be used for personal or business needs such as home renovation, weddings or business expansion. It comes with Car Loan interest rates, minimal documentation and fast processing.

What is Car Loan Refinance and how does it work?

Car Loan Refinance allows you to get a loan on your existing car. It should not be hypothecated to a bank or have any outstanding loan. ICICI Bank provides up to 140% of the car’s valuation with quick approval, competitive interest rates and simple documentation.

What are the uses of a Loan Against Car?

You can use the loan for various financial needs, including:

  • Home renovation
  • Business expansion
  • Wedding expenses
  • Medical emergencies
  • Education fees.

How can I use the EMI Calculator for Loan Against Car?

The EMI Calculator helps you plan repayments by:

  • Estimating monthly EMIs based on loan amount, tenure and interest rate
  • Comparing different loan options to choose the best fit
  • Ensuring affordability by adjusting loan parameters as per your budget.

How much loan can I get against my car?

ICICI Bank offers a refinance of up to 140% of the car's value, subject to approval. The loan amount depends on factors such as the car’s value, age, condition, and the applicant’s repayment capacity, subject to ICICI Bank assessment norms. 

Is a guarantor required for a Loan Against a Car?

In most cases, a guarantor is not required. Final requirements depend on credit evaluation and internal policies.

VIEW ALL FAQs

Disclaimer

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