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Used Car Loan

Insta Car Loan customers can avail loan up to 100% of offer amount
Loan tenure upto 7 years
Attractive rate of Interest
Only KYC documents required

Pre-Owned Car Loan - Interest, Documentation and Eligibility

  • Used Car Loan Interest Rates

  • Eligibility Criteria for Used Car Loan

  • Documents Required for Used Car Loan

Used Car Loan Interest Rates

  • Interest rates for pre-owned Car Loans are based on the customer relationship, age of the car and the segment
  • Product variants (e.g. Purchase, Top-Up, Refinance) influence the rates
  • Rates start at 11.25%, subject to CIBIL Score and the car segment
  • Tailored rates for individual financial profiles and specific vehicle characteristics
  • Tenure ranges from 12-120 months.

Eligibility Criteria for Used Car Loan

  • You must be an Indian citizen between 20-65 years of age
  • Good credit score
  • Minimum monthly income of Rs 30,000.

Documents Required for Used Car Loan

  • Identity proof (Aadhaar Card, PAN Card, Driving Licence or Passport)
  • Address proof (Utility bills, Aadhaar Card, PAN Card or Passport)
  • Income proof (ITR for self-employed, Salary Slips/Form 16 for salaried)
  • Recent Bank Statement, valid signatures and photographs
  • Proof of ownership/business stability for self-employed
  • Employment experience/Income proof
  • Partnership Deed and Letter signed by all the partners authorising one partner, for self-employed non-professionals
  • Resolution by the Board of Directors (or such managing body) and Memorandum of Association and Articles of Association, for Companies and Societies.

Note: Customers with a Pre-approved offer can skip the document submission process.

Who can Apply for Used Car Loan ?

Resident Indians only Resident & Non-Resident Indians
Aged between 23 - 60 years Aged between 21 - 54 years
Minimum 4 years of business continuity Minimum 2 years of experience
Must earn minimum Rs 1.75 lakh per annum Must earn minimum Rs 2 lakh per annum

Disclaimer : The products, services and offers referred to herein are subject to the terms and conditions governing them as specified by ICICI Bank from time to time at Nothing contained herein shall constitute or be deemed to constitute an advice, invitation or solicitation to purchase any products/ services of ICICI Bank.