Best ICICI Credit Card Apply: Get the Detailed Analysis Here

Are you a travel freak? Loves to shop online? Having higher monthly expenses? Well, if the answer is yes to all these questions, my friend you better need a credit card. That’s right! It caters to all your lifestyle needs in the best way and works like a magic wand for you. But when it comes to applying for a card, the biggest dilemma would be which card to choose as there are plenty of them. Thus, to ease your burden, here we are to let you know about ICICI credit card apply.

You read that right! Being of the renowned names in the business, there is no denying the fact that ICICI with its endless variety of credit cards is no doubt ruling the game. The bank has the widest range of cards, meeting your different lifestyle needs in the best way. Yes, be it travelling, shopping, dining, fueling and so on, the plastic money is here to cater all your needs.

So, without wasting any time further, let’s just introduce few most selling cards of ICICI belonging to different categories.

Lifestyle

ICICI Bank Platinum Chip Credit Card

Fees & Charges:

Joining Fee:₹199+GST

Annual Fee:₹99(2nd Year onward)+GST

Supplementary Card Fee: Nil

Interest on Credit & Cash Advances:3.40% per month

Eligibility:

An individual must be more than 23 years old

Net annual income of an applicant is upto ₹2.5 Lakh

Features & Benefits

• Earn 2 payback points on every ₹100 spent
• Get upto 15% savings on dining at participating restaurants
• Save 1% on fuel surcharge, waived off at HPCL petrol pumps
• Wine, dine and unwind with amazing offers from luxury hotels, restaurants, lifestyle stores & spas
• Get 3D security of chip and pin card to have the protection against fraud
• Redeem rewards against an exciting range of gifts and vouchers

Travel

Jet Airways ICICI Bank Coral Credit Card

Fees & Charges:

Joining Fee:₹600 (high-flier offer), ₹1,250 (without offer)

Annual Fee: Nil (1st Year), ₹1,250 (2nd year onwards)

Supplementary Card Fee:₹250

Interest on credit & cash advances:3.50% per month

Eligibility:

Net annual income of an individual should be upto ₹5 Lakh

Features & Benefits:

• Get welcome bonus of 2500 JPMIles on joining
• Earn upto 3 JPMiles per ₹100 spent
• Grab 1250 renewal bonus of JPMIles every year
• Buy one get one movie ticket free through the week
• Grab the opportunity to earn limitless JPMiles
• Redeem your JPMiles for free flights across JetAirways
• Get upto 2 movie tickets worth ₹250 per month
• Enjoy 15% savings on culinary treats
• Get 1% fuel surcharge waived off on fuel transactions maximum of ₹4,000 at HPCL pumps
• Get 3D chip and pin security

Motorsports

Ferrari Platinum Credit Card

Fees & Charges:

Joining Fee:₹4,099+GST

Annual Fee:₹499 +GST

Eligibility:

Net annual income of an individual should be ₹5 Lakh

Features & Benefits:

• Get 1 domestic airport lounge access per quarter
• Avail discounts on Ferrari merchandise
• Enjoy 2 complimentary movie tickets every month
• Get 15% savings on dining bills at over 800 restaurants
• Avail 2.5% fuel surcharge waiver on maximum spend of ₹4,000 at all HPCL pumps
• Earn 2 payback points on every ₹100 spent for all retail purchases
• Get 3D pin and chip security

Well, now that you know different cards and their features, benefits and fee, I guess it would now be easy for you to take that final call. After grabbing the details and selecting your favorite card, the next step is obviously to apply for the same. Yes, how to apply for your favorite card? I am sure the same question has been pondering your mind as well, isn’t it? Don’t you worry as ICICI credit card apply is a very simple and quick process.

Actually, there are two different modes of getting a card, either you can apply online or you can go the offline route as well. If you don’t want to stand in the queue, going for an online way is the best option as it quickens the process keeps you away from many hassles.

The moment you click apply online, you will be redirected to a page asking your personal and professional details, and after successfully submitting the documents and completing other formalities, you need to wait few hours as the bank executives will get in touch with you.

As far as talking the offline mode, you need to visit the branch near you so as to get your favorite card. Though it is a bit time-taking process, can also be an option to get your favourite card in your hand.

Is SBI Used Car Loan the Best Among its Competitors? The Answer is Here

So what if you can’t bring home the all-new car model. You have a bundle of used cars to pick from and drive your city crazy. And, if you think used cars do not attract a loan from the lenders, the growing second-hand vehicle finance from banks and other financial institutions would break the myth and bring a smile on your face. 

Lenders from State Bank of India (SBI) to Bank of India (BOI) are all waiting for your used car loan application to reach their desk. Since it is a loan, you would need to compare the offers in terms of loan amount, interest rate and others. 

SBI used car loan could well be a pick of the most because the lender has a massive presence across the country with a robust branch and ATM network of 24,000 and 59,000, respectively. However, it won’t be bad if you compare SBI with its competitors to get a feel of the used car finance market in general. Also, it would help you to choose the right option.

SBI Used Car Loan at a Glance

SBI provides a loan to buy a used car of not above 5 years of age. From passenger cars to sports utility vehicles (SUVs), SBI has a loan to buy a second-hand model of your choice. The loan, which can be granted for as long as 5 years, is ascertained at 80% of the valuation amount of the concerned vehicle. The remaining portion has to be paid upfront by a borrower. But where the hawk eye remains, is the interest rate charged by a lender. SBI disburses a loan for used models at 12.65%, which is 4.65% above 1-year MCLR of 8%. The loan offer can be availed by both salaried and self-employed.

Now as you got a brief of SBI used car loan, let’s find out the offers of others who are doing the rounds in the car finance space.

What to Expect from HDFC on Used Car Finance?

While applying for a used car loan at HDFC Bank, make sure the age of the vehicle won’t cross 10 years by the time the tenure gets over. The maximum loan tenure offered for a second-hand vehicle loan is 5 years at HDFC. What differentiates HDFC Bank from many in the group is its ability to pay as much as 100% of the value of the vehicle. Rarely you see a lender offering to that extent. The interest rate, on the other hand, stands at 11.50%-17.50% per annum.

Where Does ICICI Bank Stand in Second-hand Car Loan?

ICICI Bank, another top lender with a wide presence across the country, comes with a used car loan offer for a maximum period of 5 years. The loan amount can be upto 80% of the value of the second-hand model. The interest rate for the loan type stands at 15.50% per annum.

Does Axis Bank Throw Any Competition to SBI in Second-hand Car Finance?

With regards to the extent of finance, Axis Bank provides a loan of upto 90% of the valuation of the used model. The interest rate on a loan, which can be granted for a maximum of 5 years, ranges from 14.50%-16.25% p.a.

What About Kotak Mahindra Bank on Used Car Loan Front?

Kotak Mahindra Bank, one of the premier vehicle finance companies in India, offers a second-hand car loan at 15%-21% interest rate. The loan, which is limited to 90% of the valuation of the used vehicle, can be given for a maximum period of 5 years.

Does BOI Deserve to Stay in the Race of Top Used Car Loan Lenders in India?

Bank of India, like its contemporaries, also offer a loan for old cars. The loan, which is limited to 70% of the valuation of the used vehicle, comes at an interest rate of 9.25% per annum. But unlike most which offer the loan for a maximum of 5 years, BOI grants the same for only 3 years.

In our observation to used car loan offers, it is found that SBI beats all in terms of interest rates, barring BOI. The maximum loan amount also is a good one at 80% of the vehicle’s value. But it falls short of the private counterparts like HDFC Bank, Axis Bank and Kotak Mahindra Bank. So, if you need a less amount of loan to buy an old car, SBI could well be the bank you should look to apply at. But if the loan offer from SBI falls well short of the requirement, choosing another lender for a maximum finance at a reasonable interest rate should be your top consideration.

Compute the EMI for SBI Business Loan Interest Rate

To sustain and grow the business, capital is required. The profit may not be sufficient to manage all the running expenses or to initiate new projects, in such case financial assistance is required. The best option is to avail the credit facility. To support the financial entities, business loan is offered by various banking and financial institutions. 

  

SBI the country’s leading bank too extends this facility.  Since it's the country’s bank it fulfills the need of every section of the society. It considers and values the role played by the SME units in the development of the country’s economy. To assist them in growing and expanding their scale of operation the bank provides them with the credit facility. 

SBI commercial loan is meant to match the requirements of little and Medium Scale Enterprises. Also, the SBI business loan interest rate is competitive and the customer can settle the loan by paying equated monthly installments. In the section below, the scheme related details are provided. The name of the schemes are :

• Fleet Finance and
• Asset Backed Loan

The 2 schemes planned by the bank target totally different section and their needs. Every of it's totally different eligibility parameters and funding policy. scan the small print for every of it within the following section.

SBI Fleet Finance theme

This theme is completely introduced for the transport operators owning a fleet of business vehicles like trucks, trailers, tankers and buses etc. below this theme, the client will get a loan for the most quantity of Rs. 10 crores. The credit is given for the best tenure of sixty six months. the aim of supplying the loan is to finance new four-wheelers viz. trucks/ tankers/ trailers/ tippers/ luxury buses and automotive etc. The finance is for absolutely engineered vehicles, chassis, body building, road tax, registration & insurance. For borrowers World Health Organization don't have any security to produce no collateral, security choice is obtainable. The loan is obtainable to the subsequent eligible candidates. The eligibility criteria is provided below:

• Existing Fleet Operators (Goods or Passenger) having expertise of five years or additional within the same line
• Fleet operator having existing fleet of minimum ten vehicles
• SRTOs won't be eligible
• Requirement of minimum ten new vehicles or minimum loan quantity Rs.50 Lacs
• Transport operators holding national/ state route allow and different necessary permits/license/approval
• Satisfactory data with existing banks/FIs
• Income Tax Assesse (personal & Business)
• Eligibility is coupled to the scores obtained below the grading model

Documentation Required

• Application Form
• Bio-Data form
• DD for Processing fee / Advocate fee / Valuation fee
• Proprietor /Partners / Guarantors- Brief Profile, Photo, Passport/ EC ID Card/Driving Licence, Telephone Bill / Ration Card, PAN Card, IT Return for 2 years, Assets & Liabilities Statement
• Unit - Partnership Deed & Partnership, Letter, Memorandum & Articles of Association, Certificate of Incorporation/Commencement, Board Resolution, Search Report from Registrar of Companies, SSI Registration, Panchayat Licence, PAN Card, IT Return for 2 years, ST Return for 2 years, Project Report, Power Allocation Plan / Estimate / Invoices, Pollution Control Clearance
• Balance Sheet - Actual - Past 3 years, Estimated of current year, projected balance sheet of next year
• Associate Units - Brief Profile, Balance Sheet, Opinion report from Bankers

Asset Backed Loans

Now get the trouble free business loan against the mortgage of your property. The loan product targets the business units engaged within the trade, production and services. This loan is provided for all business purpose just like the assets demand, buying of fastened assets, capability expansion/ modernization /technology up-gradation/R&D/shoring of NWC or the other short term demand. The bank disburses loan quantity of up to Rs. twenty crores or hr of the property worth. The compensation amount for the loan ranges up to one hundred eighty months/15 years. The list of documents required for availing the loan is as follows:

Documentation Required

• Audited balance sheet of the last three year
• Brief detail of Proprietor / Partners / Promoters / Directors
• KYC documents for promoters / units
• Copy of IT Returns of promoters / Firm for the last three years
• Copies of license, permission approval by regulatory authority, where applicable
• Availability of utilities like power etc
• Pollution control clearance, if necessary
• Details of collateral security (including third party guarantee proposed to be offered
• Signed statement of Assets and liability from proprietor / partner guarantors
• Copies of other Bank’s sanction letter and statement of accounts (last 6 months)
• Copy of the title deeds of the Factory / Shop/ Godown/ collateral security
• Details of the capital expenditure, if Term Loan is applied
• Cheque for processing and fees to be paid for Valuation & Title search reports on property/ (ies) offered as collateral, ROC search (for companies)
• Constitution Specific documents -
• Partnership Firm - Partnership deed
• Trust - Trust deed
• Society - By laws of Society, Registration Certificate from the Registrar of Societies
• Private Ltd. Company - Certificate of Incorporation/ Memorandum and Articles of Association
• Public Ltd. Company - Certificate of Incorporation/ Memorandum and Articles of Association, Certificate of commencement of business

At the current SBI Business Loan interest rate, the customer can check the EMI amount and the total repayment using the EMI calculator. To check the EMI just enter the loan amount, rate of interest and tenure in the calculator.

HDFC Home Loan Interest Rate - Unlock the Door to Happiness

Among all credit facility available housing loan is the cheapest loan in the present time. With MCLR rates being cut rapidly, there is a great change in HL rates. Generally, the HL rates are floating and linked to MCLR, that is with every change in MCLR rates, the rate of interest on the loan changes. In recent times, home loan rates have drastically dropped. 

HDFC home loan interest rate have also changed post MCLR deduction. The Bank offers home loan to help people fulfill their dream of owning a house. It provides financial support and make it possible for the people to have the house of their choice. The credit is provided for various purposes and they are as follows:

Types of Home Loan

• Home Loan - This can be availed by applicants who wish to purchase or construct a home. A person can make an application individually or jointly with another co-applicant.
• Home Improvement Loan (HIL) - The interior of the house actually reflects the owner’s preference or taste. It therefore, becomes important to upgrade or beautify it as per the changing times. After all, nobody wants to live in a house that is not repaired since ages, isn’t it? The bank offers HIL which facilitates external and internal repairs like painting, roofing, flooring, waterproofing or tiling.
• Home Extension Loan (HEL) - In case you wish to extend your house by adding a new bedroom for your child or study room for yourself, then this product perfectly fits the bill for you. This product offers you much needed financial support when you wish to extend your house to meet the growing needs of your family.
• Plot Loans - You can get your home uniquely constructed at a place of your choice by availing the plot loan. The repayment option is customized to suit the needs of the customer.

Whatever the purpose may be, to avail the credit facility the customer has to fill the application form. The application can be submitted either online or offline by visiting the nearest bank branch. With the application form the customer has to provide the documents that are required for verification. The list of requisite documents is as below:

Documents Required:

The applicant has to submit the following documents at the time of loan application-

• Completely filled application form
• Two photos of passport size
• Proof of Identity- Aadhar card/PAN card/Passport/Driving License/Voter ID card
• Proof of Residence- Passport/Electricity bill/Telephone bill/Voter ID card
• Proof of Income-  For Salaried individuals: Bank Statement of the last six months, Latest salary slip and Form 16. For Self-employed- Profit & Loss account and audited balance sheet of the last three financial years along with income tax returns of the last three years
• Proof of Business for self-employed individuals
• Documents relating to property- Allotment letter copy/Buyer agreement and a receipt of payment which is made to the developer
• Other important documents- A cheque for processing fee favouring ‘HDFC Ltd.’, Memorandum and Articles of Association, Partnership deed in case of a partnership firm

What matters the most is how much one has to repay on the credit availed. The repayment amount includes principal amount and the interest amount. The interest is the percentile of the principal amount. To calculate the repayment amount it is important for the customer to know the HDFC home loan interest rate. 

Once the lending rate is known, the borrower can calculate the exact repayment amount and the installment amount using the HL EMI Calculator. It is a device that helps to compute the value of your installment you need pay to the lender each month in order to settle the loan. It is easy to use the calculator. You just need to enter the loan amount, tenure and the rate of interest in the calculator.

Let’s check the example to understand how HDFC home loan EMI calculator works.

For Example- A candidate availed a home loan of ₹20,00,000 for the period of 20 years at the interest rate of say 8.60% p.a. and wants to know how much EMI he has to pay each month then he can insert the relevant values in the calculator. Once the values are entered the result will be displayed as:

EMI: ₹17,483

Total Interest Payable: ₹ 21,95,981

Total Repayment Amount: ₹41,95,981

Availing the credit facility makes it easy to arrange the funds for buying the new house and doesn’t put burden on the pocket. The customer has to repay the amount in installment and hence the burden is divided over the loan tenure.