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Personal loan
1.What are the minimum and maximum loan amounts?

You can avail of loans ranging from Rs 1,00,000/- to Rs 15,00,000/- depending on your eligibility,
income and repayment capacity.

2.What are the loan tenure options?

The loan can be repaid over a period of 12 to 60 months.

3.Are there any additional charges?

A processing fee of 2 % or 3 % depending on the location of the loan amount is payable upfront.
This fee will be deducted from the disbursal amount payable to you.

4.How much time will it take for my loan to be approved?

Loans are approved within 72 hours of submission of complete documentation.

5.Do I have to provide any security, collateral or guarantors?

No security, collateral or guarantors are required for obtaining a Personal Loan.

6.How do I repay the loan?

You can repay the loan in Equated Monthly Instalments (EMI's) through post-dated cheques
favouring ICICI Bank Limited, or if you have an ICICI Bank account you can mandate us to
directly debit the same.

7.Can I prepay my loan?

Yes, you can prepay the entire loan outstanding after paying 6 installments of availing the same.
Prepayment charges as applicable would be levied on the outstanding loan amount. No part
prepayment is allowed.

8.Do I need to open an account with ICICI Bank for availing and/or servicing the loan?

We will encourage you to start a banking relationship with us so that we will be able to offer a host
of other value added services, which are complementary to the loan, however opening an
account with us is not mandatory.

9.How do I approach ICICI Bank for a Personal Loan?

You can approach us in any of the following ways

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• Call us at our 24 hour Customer Care Centre

• Apply Online
• Write to us using the "Email Us" option
• You can just walk into any of our branches.

CAR Loan
1.What are the loan tenure options?

The tenure of the loan could range from one to six years for new car loans.

2.What are the lending rates?

The lending rates vary on the basis of discounts, which are offered by manufacturers and dealers.
ICICI Bank has a tie-up with most of the manufacturers and authorised dealers and our sales
team will help you negotiate the best deal on your car loan.

3.How is the interest charged/calculated?

Interest is calculated on a monthly reducing balance basis.

4.Do I have to pay any additional charges?

Please click here to know the existing service charges.

5.How do I approach ICICI Bank for a Car Loan?

You can approach us in any of the following ways

• Apply online
• Write to us using the "Email Us" option
• Call us at our 24 hour Customer Care Centre
• You can just walk into any of our branches.
• Contact any of our direct sales agents.

6.How much time will it take for my loan to be decisioned?

The loans are generally decisioned within 24 hours of submission of complete documentation.

7.Who can be the co-applicants for the loan?

Your spouse or any blood relative staying in the same residence can be a co-applicant.

Is a personal guarantor a must?

No, a personal guarantor is not a must.

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8.What security/collateral do I have to provide?

No additional security/collateral has to be provided apart from the car against which the loan is
granted, which should be hypothecated to ICICI Bank.

9.If I do not meet all the criteria for the loan, can I still avail of a loan?Yes, it is possible for
you to avail of a loan even if you do not meet all the criteria, at the discretion of ICICI Bank.

You can approach us in any of the following ways

• Apply online
• Write to us using the "Email Us" option
• Call us at our 24 hour Customer Care Centre
• You can just walk into any of our branches.
• Contact any of our direct sales agents.

10.How do I repay the loan?

The loan can repaid through post dated cheques drawn on ICICI Bank Ltd. Alternately, if
you have a Bank account with ICICI Bank, you can issue a direct debit mandate to your
existing ICICI Bank account for the repayment. Please click here for further details.

11.Can I prepay my loan?

You can prepay the loan, if you are closing it fully. We charge for prepayment of loan by the
customer. The details of charges are given in service charges page.

12.What is a Monthly Reducing Balance?

In the case of monthly reducing balance method, the principal gets reduced at the end of every
month and the interest is calculated on the outstanding principal at the end of the month.13.What
is an Annual Reducing Balance?

In the case of annual reducing balance method, the principal gets reduced at the end of the year
and the interest is calculated on the outstanding principal at the end of the year.

14.Do I need to open an account with ICICI Bank for availing and/ or servicing the loan?

We will encourage you to start a banking relationship with us so that we will be able to offer a host
of other value added services, which are complementary to the loan. However, opening an
account with us is not mandatory.

15.What are the stages involved in availing a loan?

The stages involved are:

• Application
• Processing
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• Documentation
• Sanctioning of the loan
• Disbursement

16.Does ICICI Bank have a loan for the car I want?

ICICI Bank Car Loans are available for almost all new passenger cars.

If I am not able to furnish my income documents is there a special scheme for persons like
me?

Yes, ICICI Bank has tailor made schemes for persons like you. We offer funding without the
income proof also.

Please call our " 24 hour Customer Care Numbers ".

17.Can I avail of a loan on my existing car?

No, we do offer loans only for new cars.

Commercial Loans
1.What are the loan tenure options?

The tenure of the loan can range from a period of six months to sixty months depending on the
product and your requirements.

2.How is the interest charged/calculated?

Interest is calculated on a monthly reducing balance basis.

3.Do I have to pay any additional charges?

Please click here to know the existing service charges.

4.What documents do I need to submit to avail a Commercial Vehicle Loan?

To avail a Commercial Vehicle Loan you will have to submit the following documents:

• Proof of Address e.g. Passport, Ration Card, Voters ID

• Proof of Experience in the relevant area
• Track Record of past loans if availed
• Bank Statement
• ITR in case of specific category of customers
• Additional documents like the Financial statements for the last two years
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• Transportation Contracts to be submitted for higher quantum of funding.

5.How do I approach ICICI Bank for a Commercial Vehicle Loan?

You can approach us in any of the following ways:

• Apply online
• Write to us using the "Email Us" option
• Call us at our 24 hour Customer Care Centre.
• You can just walk into any of our branches.
• Contact any of our direct sales agents.

6.How much time will it take for my loan to be decisioned?

The loans are generally decisioned within 24 to 48 hours of submission of complete documents.
However, the time may vary depending upon the nature of the loan, quantum of funding,
documents provided by the customer, etc.

Who can be the co-applicants for the loan?

You can have the following as your co-applicants depending upon your status:

• Blood relatives in case of individuals.

• Partners in case of Partnership firms
• Directors in case of Private Ltd companies

7.Is a personal guarantor a must?

A personal guarantor is not a must. However, the bank may insist for a personal guarantor for
some deals depending upon financial strengths of the customer.

8.What security/collateral do I have to provide?

No additional collateral required other than the vehicle on which the funding is extended.

9.Do I need to open an account with ICICI Bank for availing and/ or servicing the loan?

We will encourage you to start a banking relationship with us so that we will be able to offer host
of other value added services, which are complementary to the loan. However, opening an
account with us is not mandatory.

10.What are the stages involved in taking a loan?

The various stages involved are:

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• Application
• Discussion on specific requirements
• Evaluation and Approval
• Documentation
• Completion of formalities and disbursement.

Loan Against Property

1.Why Should I consider ICICI Bank?

• Attractive Interest Rates

• No fee on part prepayment
• Insurance options at attractive premium
• Doorstep Service
• Simplified Documentation

2.What is the eligibility criteria to get a Loan Against Property?

You are eligible for a Loan Against Property, if you are

• A minimum age of 21 years

• Employed or self-employed with a regular income
• Owner of a self-occupied property

3.How much loan can I get?

• You can get a loan of upto Rs 3 Crores

• You can get upto 75% of the value of the property, subject to a minimum valuation
criteria. The amount varies depending on the nature of the property and term of the loan
that you need
• Your repayment capacity as determined by ICICI Bank, taking into account your age,
income, qualification, number of dependents, assets, liabilities, stability/ continuity of your
employment/ business and the co-applicant's income.

4.Can I take a loan against another property if I have a home loan with ICICI Bank ?

Yes, you can take a loan against any other property. To know more about loans against property,
please contact an ICICI Bank Counselor

5.How do I approach ICICI Bank for a Loan Against property?

You can approach us in any of the following ways

• Apply online
• Write to us using the "Email Us" option
• Call us at our 24 hour Customer Care Centre
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• You can just walk into any of our branches.

• Contact any of our direct sales agents.

6.Can I avail of fixed or floating rate loan?

You can opt for either the fixed or floating rate loan. In the fixed rate loan, the interest rate is
constant throughout the tenure of the loan.

In case of floating rate loan, the interest rate is adjusted with changes in the ICICI Bank Floating
Reference Rate (FRR).

7.Over how many years can I repay the loan?

You have the option of selecting a term you are comfortable withdrawing

• Upto 15 years for salaried and self-employed professionals

• Upto 15 years for other self employed individuals

The term does not extend beyond your retirement age, or your reaching 65 years years
whichever is earlier.

8.How would the value of my property be determined?

The value of your property would be determined through a valuation conducted by ICICI Bank.

9.How do I repay the loan?

Please click here for information on repayment.

10.Do I need to open an account with ICICI Bank for availing and/ or servicing the loan?

We will encourage you to start a banking relationship with us so that we will be able to offer host
of other value added services, which are complementary to the loan, however opening an
account with us is not mandatory.

11.What are the stages involved in taking a loan?

There are three main stages -

1. Application – Whereby you submit a completely filled in application with all necessary
documents.
2. Sanction - Whereby you get an approval for a specific loan amount based on the value of your
property and repayment capabilities.
3. Disbursement – Whereby the loan amount is transferred.
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What are the various products under LAP that ICICI Bank provides?

• LAP – Residential
• LAP – Commercial

Other products offered with property collateral

• Property Overdraft
• Lease Rental Discounting
• Home Equity - Plot

12.What is a Monthly Reducing balance?

An Equated Monthly Installment (EMI) has 2 components, interest and principal. When the
interest is calculated on monthly rests, the principal on which the interest is charged goes down
every month. This results in a significant saving for the customer over the tenure of the loan.

13.What is an Annual Reducing balance?

An Equated Monthly Installment (EMI) has 2 components, interest and principal. When the
interest is calculated on annual rests, the principal reduces only at the end of the year. Therefore,
you continue to pay interest on a portion of the principal that you have already actually paid back
to the lending company.

14.When will the loan be disbursed?

Your loan will be disbursed on:

• Submission of the completed application form with a copy of all the documents.
• Legal and technical clearance of the property
• Sanction of the loan amount
• Request for disbursal
• Collection of original property documents

15.What is an amortization schedule?

An amortization schedule is a table giving the reduction of your loan amount by monthly
installments. The amortization schedule gives the breakup of every EMI towards repayment
interest and outstanding principal of your loan.

16.How can I foreclose the loan?

The Loan can be foreclosed by approaching our ICICI Bank Home Loans branch representative,
who will give you the working of your foreclosure. Then issue a cheque favoring ICICI Bank, upon
clearance of which the documents will be released for that loan.

How long will the whole process of foreclosure take? When will I get my PDCs and
documents back after I foreclose the loan?
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The whole process from taking the cheque to releasing the documents will take approximately 2
weeks.

17.What are the charges on foreclosure?

The charges will be as per the rates mentioned in your agreement.