ICICI Bank Commercial Vehicle Loan at a glance
| Feature | ICICI Bank Commercial Vehicle Loan |
|---|---|
| Product name | ICICI Bank Commercial Vehicle Loan |
| Interest rate | Not published on the loan provider's website. Ask for it in the Key Fact Statement. |
| Rate type | Flat rate scheme |
| Maximum tenure | 12 - 60 months |
| How much it funds | Up to 100% of chassis value; body funding on request |
| Processing fee | Not published on the loan provider's website. Ask for it in the Key Fact Statement. |
| Pre-closure / prepayment | Allowed; charges per service charge schedule |
Source: icici.bank.in, checked 4 October 2026. ICICI Bank publishes the range of rates actually disbursed in a recent quarter; your own rate depends on your profile.
ICICI Bank vs other loan providers for commercial vehicle loans
Published figures from each loan provider's own website. Some loan providers publish a starting rate, some a range actually given to customers, and some only a maximum, so read the column with care and compare final offers on the APR in the Key Fact Statement.
| Loan provider | Published rate | Max tenure | Type |
|---|---|---|---|
| Federal Bank | 7.50% - 15% | — | private sector bank |
| Mahindra Finance | 8% - 25% p.a. | 60 months new; 36 months used | NBFC |
| Tata Capital | From 12% p.a. | IMHCV up to 72 months; SLCV and buses u… | NBFC |
| SBI | Repo Rate + 2.65% | 84 months | public sector bank |
| ICICI Bank | — | 12 - 60 months | private sector bank |
| Canara Bank | — | 84 EMIs | public sector bank |
| IndusInd Bank | — | 59 months | private sector bank |
| IDFC FIRST Bank | — | 60 months | private sector bank |
| Yes Bank | — | 60 months | private sector bank |
| TVS Credit | Up to 30% p.a. | 6-36 months | NBFC |
| Chola | New: HCV/LCV 9% - 18%, MLCV 11% - 20%; Used: HC… | 84 months | NBFC |
What kind of loan provider ICICI Bank is
ICICI Bank is a private sector bank. Private banks tend to approve and disburse quickly, often digitally or at the dealership, and cover a wide range of credit profiles. The spread between their lowest and highest rates can be wide, so the rate you are offered depends heavily on your credit score, income and the vehicle.
Large private-sector loan provider with a digital-first car loan process, covering new, used and EV cars, two-wheelers, commercial vehicles and tractors.
Features ICICI Bank lists for this loan
- Trucks, buses, tippers, LCVs
- For fleet owners/transporters with 2+ years experience
Documents you will usually need
Most loan providers ask for a similar set. ICICI Bank may ask for more depending on your profile.
- Identity proof such as Aadhaar, PAN or voter ID
- Address proof for the current and permanent address
- Passport size photographs and a signed application form
- Last 6 to 12 months of bank statements
- Income tax returns, GST registration or business proof where available
- Proforma invoice or quotation from the dealer for the vehicle
- Driving licence, and permit or contract details for the vehicle's intended use
Before you sign with ICICI Bank
- Get the Key Fact Statement (KFS). RBI requires loan providers to give you a KFS before you sign, showing the interest rate, all fees, the annual percentage rate (APR) and the total amount you will repay.
- Compare the APR, not the headline rate. A low rate with a high processing fee can cost more than a slightly higher rate with no fee.
- Ask about pre-closure charges. Fixed-rate vehicle loans often carry charges for paying early; floating-rate loans to individuals cannot.
- Check what is bundled. Insurance, extended warranty or accessories added to the loan raise the amount you pay interest on. You are free to buy insurance elsewhere.
- Make sure the hypothecation is recorded and later removed. The loan provider's name is noted on the registration certificate; after the last EMI, collect the NOC and get it removed at the RTO.
Apply on icici.bank.in or at a branch. Never pay anyone an upfront fee to "get a loan approved"; genuine loan providers deduct fees only from the loan itself.
More from ICICI Bank and similar loans
Other vehicle loans from ICICI Bank:
Buying a used car? Read the used car loan guides
A second-hand car changes the rate, the tenure and the paperwork. These guides cover rates by loan provider, car age limits, valuation, down payment and RC transfer.
Compare ICICI Bank with other loan providers
See ICICI Bank's published vehicle loan rates, fees and tenure next to another bank or NBFC.
Frequently asked questions
What is the ICICI Bank commercial vehicle loan interest rate?
ICICI Bank does not publish a rate on its website for this loan. Ask for the Key Fact Statement, which must show the rate and APR before you sign.
What is the maximum tenure for an ICICI Bank commercial vehicle loan?
12 - 60 months, as published by ICICI Bank. A longer tenure lowers the EMI but raises the total interest.
How much of the vehicle cost does ICICI Bank fund?
Up to 100% of chassis value; body funding on request, according to ICICI Bank. The rest is your down payment.
What processing fee does ICICI Bank charge?
The processing fee is not published online. It must be shown in the Key Fact Statement before you sign.
Can I close an ICICI Bank commercial vehicle loan early?
Allowed; charges per service charge schedule.
Is ICICI Bank regulated?
Yes. ICICI Bank is regulated by the Reserve Bank of India as a private sector bank. If a complaint is not resolved by the loan provider within 30 days, you can approach the RBI Integrated Ombudsman.
KhatuLoans is not a loan provider and is not paid by the loan providers or brands named here to rank them. Rates, fees and prices change; always confirm with the loan provider and dealer. Read our editorial policy and how we make money.