ICICI bank provides car loans. There are various requirements for obtaining the ICICI Car Loan and they are discussed below:
* Salaried individuals must be 25 years old at the time of applications and a maximum of 58 years when the loan matures.
* Proprietor, professional, partner or director must have a minimum age of 28 when applying and a maximum of 65 on loan maturity.
* Private and public limited companies must have a minimum of three years of existence.
* Minimum gross annual income of 4.00 lakhs for salaried individuals.
* For self-employed individuals, the minimum requirement is Rs. 2.50 lakhs.
* Partnership firms must have a minimum of Rs. 2.50 lakhs of profit after tax.
* Private and public limited companies must have a minimum of Rs. 2.50 lakhs of profit after tax.
* The salaried person must have completed two years in job and a minimum of 1 year in the current job.
* Minimum of 3 years of business stability for the self-employed individuals.
* More than 3 years of business stability for partnership firms is required.
* Private and public limited companies must have more than 3 years of business stability.
Loan amount of ICICI Car Loan:
The minimum loan amount is Rs. 1,00,000 and the maximum amount depends on the model of the car, a price of the car and the customer profile.
The documents needed for ICICI Car Loan are:
- Income proof
- Identity proof
- Signature proof
- Address proof
- Partnership deeds and IT returns, balance sheet etc (not for salaried people).