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ICICI Bank Car Loan EMI Calculator Jun 2017

Last Updated 16th Jun 2017

ICICI Bank Car Loan Calculator

Lowest EMI on ICICI Bank Car Loan - Rs. 1,699 per lakh

Loan Amount 2 Years 3 Years 5 Years 7 Years
Rs. 100,000 Rs. 4,649 Rs. 3,262 Rs. 2,162 Rs. 1,699
Rs. 300,000 Rs. 13,948 Rs. 9,786 Rs. 6,485 Rs. 5,097
Rs. 500,000 Rs. 23,246 Rs. 16,310 Rs. 10,809 Rs. 8,496
Rs. 1,000,000 Rs. 46,492 Rs. 32,620 Rs. 21,618 Rs. 16,991
Car Loan Calculator
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Factors affecting ICICI Bank Car Loan EMI

  • Borrower age should be between 18 years to maximum 65 years
  • Maximum car loan amount offered by ICICI Bank is up to 100.00% of ex-showroom price
  • Interest rates starts @ 10.75% depending upon down payment, net income and other factors
  • Processing fee in ICICI Bank may be 0.00% of loan amount Min Rs. 2,500 Max Rs. 5,000

ICICI Bank Car Loan EMI

  • Car Loan EMI (or equated monthly installment) is a fixed amount of money paid by you to ICICI Bank against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
  • With ICICI Bank offering car Loans with loan tenure upto 84 years, the loan EMI can be as low as Rs. 1 per lakh, to make it more affordable and convenient to meet your car needs. Rate of interest offered by ICICI Bank are as low as 10.75%.
  • This EMI consists of both interest payment and principal repayment. Though the EMI amount will remain constant, the principal component keeps increasing and on the other hand the interest component keeps reducing.

ICICI Bank Car Loan Calculator Formula

Emi Calculator Formula

Here is an illustration of how ICICI Bank Car Loan EMI is calculated:
In above formula,
P = Loan amount. This should be 100.00% of ex-showroom price
n = tenure in month. For ICICI Bank, this can be 84 months

Car Loan EMI Calculator ICICI Bank - How it works?

ICICI Bank Car loan calculator calculates EMI considering a combination of loan amount, interest rate and loan tenure.

  • ICICI Bank Car loan calculator considers “reducing balance basis” and assumes that payment of EMI is made in arrears (means interest is charged for the month preceding the EMI payment date) and not in advance.

Car Loan EMI – EMI changes in case of prepayment

In case you prepay your car loan, the outstanding balance on your car loan reduces. ICICI Bank gives you two options:

  • Reduce your loan tenure and keep your car EMI same
  • Reduce the amount of EMI and keep your loan tenure same

It is better to keep the EMI constant and reduce the loan tenure as you pay less interest to the ICICI Bank in this option.

Frequently Asked Questions on ICICI Bank EMI Calculator

What is the lowest EMI per lakh offered by ICICI Bank on Car loan?

ICICI Bank offers car loan at 10.75% interest rate and hence lowest EMI on per lakh loan amount is Rs. 1,699.

Can I prepay my ICICI Bank car loan?

ICICI Bank offers you an option of prepayment at 5% charges.

Is there any processing charge on Car loan from ICICI Bank?

Car Loan from ICICI Bank charges a processing fee of 0.00% of loan amount Min Rs. 2,500 Max Rs. 5,000.

ICICI Bank Car Loan Customer Care Number, Email, Application Status, Branches

ICICI Bank Car Loan Calculator Customer Care Number, Email, Application Status, Branches

City Customer Care Number
Agra 808-166-7777
Ahmedabad 079-33667777/ 079-44455000
Ambala 901-766-7777
Anand 800-066-7777
Aurangabad 902-166-7777
Bangalore 080-33667777/ 080-44455000
Bhilai 909-866-7777
Bhilwara 787-766-7777
Bhiwadi 787-766-7777
Bhopal 0755-3366777
Bhubaneswar Cuttack 0674-3366777
Bikaner 787-766-7777
Chandigarh 0172-3366777/ 0172-4445500
Chennai 044-33667777/ 044-44455000
Cochin 902-066-7777
Coimbatore 0730-566-7777
Dehradun 0135-3366777
Delhi 011-33667777/ 011-44455000
Durg 909-866-7777
Faridabad 901-766-7777
Gandhinagar 800-066-7777
Ghaziabad 808-166-7777
Goa 902-166-7777
Greater Noida 808-166-7777
Gurgaon 0124-3366777/ 0124- 4445500
Guwahati 986-466-7777
Gwalior 909-866-7777
Hyderabad 040-33667777/ 040-44455000
Indore 909-866-7777
Jabalpur 909-866-7777
Jaipur 0141-3366777/ 0141-4445500
Jalandhar 730-766-7777
Jodhpur 787-766-7777
Kanpur 808-166-7777
Karnal 901-766-7777
Kolhapur 902-166-7777
Kolkata 033-33667777/ 033-44455000
Kota 787-766-7777
Kozhikode 902-066-7777
Lucknow 0161-3366777/ 0161-4445500
Ludhiana 730-766-7777
Madurai 0730-566-7777
Meerut 808-166-7777
Mehsana 800-066-7777
Mohali Sas Nagar 730-766-7777
Mumbai 022-33667777/ 022-44455000
Mussoorie 808-166-7777
Nagpur 902-166-7777
Nashik 902-166-7777
Noida 808-166-7777
Noida Extn 808-166-7777
Panipat 901-766-7777
Patna 0612-3366777
Pondicherry 0730-566-7777
Pune 902-166-7777
Raipur 0771-3366777
Rajkot 800-066-7777
Ranchi 0651-3366777
Rohtak 901-766-7777
Roorkee 808-166-7777
Salem 0730-566-7777
Shimla 0177-3366777
Sonepat 901-766-7777
Surat 800-066-7777
Trichy 0730-566-7777
Udaipur 787-766-7777
Vadodara 800-066-7777
Varanasi 808-166-7777
Vijaywada 730-666-7777
Vizag 730-666-7777
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