Want us to help you with anything?
Request a Call back

This field is required Only alphabetes are allowed
This field is required Only alphabetes are allowed
Please enter valid number
Please enter valid email
Please select product type
Please enter valid pincode

Thank you for your request.

Your reference number is CRM

Our executive will contact you shortly


Commercial Vehicle Loan Service Charges & Fees

Charges & Interest Amount
  i. Additional Interest 2% per month on overdue EMI
Penal Charges
  i. Prepayment charges 4%* + applicable GST on the Principal outstanding
  ii. Bounce Charges Rs. 500/- + applicable GST
  iii. Loan Cancellation Charges Rs. 2000/- + applicable GST
Service Charges
  i. Duplicate Repayment/Amortization schedule charges Rs. 150/- + applicable GST (For Physical Copy) and NIL for Digital Copy
  ii. Statement of Account charges Rs. 150/- + applicable GST (For Physical Copy) and NIL for Digital Copy
  iii. Prepayment statement charges Rs. 150/- + applicable GST (For Physical Copy) and NIL for Digital Copy
  iv. Duplicate No objection certificate / No due certificate charges Rs. 250/- + applicable GST
  v. Revalidation of No objection certificate charges Rs. 250/- + applicable GST
  vi. No objection certificate for conversion from Petrol to LPG/CNG charges Rs. 400/- + applicable GST
  vii. No objection certificate to convert from private to commercial or from commercial to private charges Rs. 2000/- + applicable GST
  viii. Swap charges Rs. 500/- + applicable GST
  ix. Loan documentation charges Rs. 650/- + applicable GST
  x. Registration Certificate (RC) Collection Fees Rs. 600/- + applicable GST
  xi. Loan Reschedulement  / rebooking charges Rs. 2500/- + applicable GST
  xii. CERSAI Charges NIL
  xiii. Information Utility Charges (Only for Corporate Cases) Rs. 300/- + applicable GST
  xiv. Cash Transaction Charges (for repayment of EMI dues in cash at branches) Rs. 100/- + applicable GST
  xv. Processing fees Upto 1% of loan amount + applicable GST
  xvi. Stamp duty charges At actuals as per State Stamp Duty Act + applicable GST(if any)
  xvii. Valuation charges At actuals+ applicable GST

Important points:

  1. Goods and Services Tax (GST), Other Government taxes, Levies, etc., will be applicable as per prevailing rates, in addition to the above mentioned charges
  2. The charges or fees given in the above table are subject to change and the one recorded in the agreement, will be binding over the site
  3. Interest Reset clause: Not Applicable
  4. The charges are applicable for all customers from Mar 31, 2016
  5. Stamp duty charges shall be extra, as applicable
  6. ICICI Bank reserves the right to revise the rate of interest and processing fee from time to time, at its sole discretion

* Nil Prepayment charges on all fixed rate loans if loan is booked under priority sector lending and Borrower(s) type is Small or Micro & Loan amount is less than or equal to Rs. 50 Lacs. Further, Nil prepayment charges on all floating rate loans if Borrower(s) type is Small or Micro in accordance with MSE Code of Commitment.

For more information, please visit the nearest ICICI Bank branch or call our Customer Care.


Range of Interest rates for Commercial Vehicle Loans

Quarter ended on March-2023 Minimum Maximum Mean
Commercial Vehicle Loan 8.40% 18.00% 9.87%
  • The range of interest rates provided above is with respect to loans to individuals disbursed during Quarter 4 - FY: 2022-23.
  • It includes fixed rate of interest and is based on factors such as customer relationship, vehicle segment and tenure of loan etc.
  • Interest rate for used vehicle loan is based on age and segment of vehicle, tenure of loan and product variant like top up, refinance etc.
  • It excludes subsidy and government schemes.
  • Mean rate = Sum of rate of interest of all loan accounts / Number of all loan accounts.

Annual Percentage Rate

The Annual Percentage Rate (APR) is a method to compute annualized credit cost which includes interest rate and loan origination fee.

To calculate the same, please click here to download the APR calculator.