ICICI bank launched new car loan scheme. Check Highlights here

If you are looking for a car loan, let us tell you that Private Sector lender ICICI Bank has brought a unique car loan scheme. This scheme is to help you in getting a car at low cost. ICICI Bank has joined hands with automobile leasing company TranzLease to provide this car loan opportunity to its customers. This car loan which is termed as ‘Smart EMI’, promises to offer cheaper EMI options than the usual EMI schemes available in the market. To make it more cost effective cal loan option, the resale value of your car will be deducted from your EMIs in the beginning.

Also during the loan tenure, this Smart EMI loan will take care of the insurance and maintenance requirement of the vehicle.

“A first-of-its-kind innovative financing option developed for the car enthusiasts to help them to take home a car of their choice on lease without having to worry about financing, insurance and maintenance,” said Ravi Narayanan, Head – Secured Assets, ICICI Bank said.

ICICI bank is offerring this Smart EMI car loan on any of the cars. So whether it is the entry-level hatchbacks or luxury sedans and SUVs, you can avail this loan.  Currently, this loan facility is available for the salaried and the corporate customers. However, Bank has said that soon self- employed customers will also be able to apply for this loan. Right now, customers of Mumbai and Delhi-NCR can get this facility. Soon, bank will introduce it to Pune, Bengaluru, Hyderabad and Chennai.