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Embrace sustainability with ICICI Bank’s Electric Vehicle Loan. Get 100% funding, low-interest rates, minimal documentation and speedy approvals for your EV dream!
Eco-friendly, easy & quick EV ownership
100% Funding for Electric Cars
Minimal & Hassle-free Documentation
Competitive Low Interest Rates
Quick & Smooth Loan Approvals
How to get maximum benefits with ICICI Bank EV Car Loans?
Save more
Get 100% Car Funding
Finance your EV with full coverage.
EV Comparison Tool
Compare models and make informed choices.
Competitive Interest Rates
Optimised rates for cost-effective EMIs.
Simple Process
Minimal Paperwork Needed
Quick, easy and hassle-free application.
Fast Loan Sanction
Get loan approval without delay.
Support Green Driving
Reduce carbon footprint, drive responsibly.
10.25%* onwards, based on CIBIL score and car segment
9.15%* onwards, based on CIBIL score and car model
11.25%* onwards, based on CIBIL score and car segment
ICICI Bank Car Loan Eligibility
For salaried individuals
Age: 20-65 years
Minimum monthly income: ₹30,000
For self-employed individuals
Age: 21-70 years
An existing relationship with ICICI Bank is beneficial
Use Digi Locker, no physical documents required
Apply in 4 easy steps!
Customize your loan
Provide additional information
Submit your application
Looking for something else?
New Car Loan
Finance your new car with ease.
Pre-Owned
Car Loan
ICICI Bank Second-Hand Car Loan, with easy documentation, instant approval, and quick Loan disbursal.
Loan Against Car
Access funds without having to sell your car or obtain additional collateral.
Car Loan
Topup
Additional top-up loan can be provided to existing Car Loan customers of ICICI Bank.
Car Loan
Refinancing
Refinance refers to granting loan on an existing car which is not hypothecated to any bank/financial institution or is hypothecated but with nil outstanding.
Car Loan
EMI Calculator
Use ICICI Bank Car Loan EMI Calculator to estimate your monthly Car Loan payments
RC Registration
Update
Update your Vehicle Registration Certificate (RC) with ICICI Bank
Terms and Conditions
Standard terms and conditions.
Required Documents
for a Car Loan
Keeping your convenience in mind, minimal documents are specified.
Car Loan
Refinancing
Refinance refers to granting loan on an existing car which is not hypothecated to any bank/financial institution or is hypothecated but with nil outstanding.
About EV Car loans
Salaried or self-employed Indian/NRI applicants with steady income can apply for 100% funding on eligible electric vehicles through a simple and transparent process.
Submit basic identity, address, income proof, and sale agreement. Use DigiLocker to avoid physical documents and make the process smooth and paperless.
Choose your EV, customise the loan, share your details, and get swift sanction — designed to get you on the road faster with an eco-friendly ride.
Switch to an electric vehicle with ICICI Bank’s competitive rates, quick approvals, and support for a greener, smarter commute. Make sustainable mobility an easy choice.
Make an informed choice with ICICI Bank’s Car Comparison Tool. Easily compare electric vehicles based on features, specifications, and price, helping you select the EV that best matches your budget and lifestyle needs before applying for a loan.
EV Car Loan FAQs
What is a Car Loan?
A Car Loan is a secured loan that helps you purchase a new or pre-owned vehicle by financing a portion or the entire cost. You repay the loan through easy EMIs over a chosen tenure.
Why Choose an Electric Vehicle (EV) Loan from ICICI Bank?
Make the switch to green mobility with confidence. Here’s why ICICI Bank’s EV Car Loan stands out:
Eco-Friendly Commute
Reduce carbon emissions and drive towards a sustainable future.
Competitive Interest Rates
Affordable and flexible rates designed to suit your budget.
Minimal Documentation
Enjoy a simple digital application process with fewer paperwork requirements.
Quick Approvals
Swift loan processing for a seamless ownership experience.
How to Apply for an EV Car Loan?
Applying for an ICICI Bank EV Car Loan is easy and convenient. Follow these steps:
Is the EV Car Loan Applicable for All Electric Vehicle Models?
Yes, ICICI Bank’s EV Car Loan supports a wide range of electric vehicle models, giving you the flexibility to select the vehicle that aligns with your preferences and sustainability goals.
What are benefits of an Electric Vehicle Loan?
Choosing an EV Loan brings more than just convenience:
Reduced fuel and operating costs.
Lower maintenance expenses.
Access to potential government incentives.
Contribution towards a cleaner, greener environment.
What Interest Rate Can I Expect on an EV Car Loan?
Interest rates for an EV Car Loan depend on several factors:
Criteria
|
Influence on Interest Rate
|
CIBIL Score
|
Higher scores may offer better rates.
|
Loan Tenure
|
Longer tenure may affect the rate.
|
Model & Loan Amount
|
Influences the applicable interest bracket.
|
For the latest rates, click here.
How Much Loan Can I Avail for an Electric Vehicle?
ICICI Bank offers up to 100% funding on eligible electric vehicles, subject to the vehicle valuation and applicant’s eligibility.
