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ICICI Bank ICICI Bank

Car Loan Eligibility Calculator

Car Loan Eligibility Calculator helps determine the loan amount you qualify for, based on factors like income, credit score and existing debts. By inputting this data, you receive an estimate of your loan eligibility that helps in budgeting and car selection. It simplifies the loan application process, ensuring affordability and convenience.

 

New Car

  • Loan upto 100% on road price

 

Pre-Owned Car

  • Loan up to 100% of the valuation of car with maximum tenure of 84 months* (can go further depending on profile)

 

APPLY NOW FIND YOUR DREAM CAR

For salaried Non-individuals

 

  • Legal Entity: Properly registered business entity

  • Business Stability: Minimum operational duration required

  • Annual Turnover: Meets minimum turnover criteria

  • Financial Stability: Demonstrates the ability to repay the loan

  • Business Documentation: Audited financial statements, tax returns etc.

For Salary customers

 

  • Monthly Income: Meets minimum income threshold.

  • Employment Stability: Minimum employment duration required.

  • Credit Score: Good credit history preferred.

  • Existing Debts: Manageable Debt-to-Income (DTI) ratio.

  • Age Criteria: Generally between 21 and 65 years.

Car Loan Eligibility Calculator FAQs

What CIBIL score is required to be eligible for car loan?

The required CIBIL score for a Car Loan varies, but generally a score of 700 or higher is preferred by ICICI Bank.

What is the eligibility criteria for a new car loan?

 
The eligibility criteria for a new Car Loan typically includes stable employment, a good credit score and meeting the income requirements.

What salary is eligible for a car loan?

A stable income source, with a minimum monthly salary meeting the lender's requirements, is eligible for a car loan. While specific income thresholds vary among lenders, stable employment and sufficient income to cover loan repayments are essential factors influencing eligibility. 

Can I get a car loan with a 30k/40K salary?

While a salary of 30k or 40k may qualify for a car loan, eligibility ultimately depends on factors like credit score and existing debts. 

Can I buy a car with 100% financing?

Some lenders may offer 100% financing for car purchases, but most of them offer up to 80% to 90% of the total Loan amount. Before opting for a Car Loan, consider the terms, interest rate and repayment conditions.

What kind of salary is considered eligible for a Car Loan?

A stable income source, with a minimum monthly salary meeting the requirements is eligible for a Car Loan. While specific income thresholds vary, stable employment and sufficient income to cover loan repayments are essential factors influencing eligibility.

VIEW ALL FAQ’S

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