RESEARCH REPORT Final

RESEARCH REPORT
PART A
PREFATORY ITEMS
N.L.Dalmia Institute of Management Studies & Research Page 1

Sr No. Topic Page No.
1 PART A - PREFATORY ITEMS 1
1.1Letter Of Transmittal 3
1.2Title Page
4
1.3Letter Of Authorization
1.4Executive Summary 5
2 PART B – INTRODUCTION 9
2.1 Problem Statement 10
2.2 Research Objective 11
2.3 Research Design 12
2.4 Hypothesis 13
2.5 Literature Review 14
3 PART C – METHODOLOGY 101
3.1 Sampling Strategy 102
3.2 Determine Sample Size 103
3.3 Data Analysis 104
3.4 Limitations 125
4 PART D - CONCLUSIONS 126
4.1 Findings 127
4.2 Conclusion 129
5 PART E – APPENDICES 130
5.1 Questionnaire 131

INDEX
LETTER OF TRANSMITTAL
Date:
As per your directions in Letter of Authorization dated ________________we

have completed our study on “The satisfaction level of existing ICICI Bank
Auto Loan Customers”. The report is based on interviews and responses of
130 respondents who are desirous of financing their car purchase through
loans provided by ICICI Bank.
This project was carried on between ________________ and

_________________. The complete methodology and conclusions derived on
the basis of the responses is described in the report.
We believe you will find the results mentioned in the report to be

interesting and certainly useful.
From,
Group No:
Div: A
N.L. Dalmia Institute of Management Studies and Research.

Report On:
“To study the satisfaction level of existing ICICI

bank auto loan customers”
Submitted To
Dr.VijayWagh
Group No.
Div - A
Group Members:
Durvesh Galvankar -
120
Pinki Tiwani - 141
Sagar Gala - 151
Urvaksh Mohta - 168

LETTER OF AUTHORIZATION
Date:
Group No:
Div: A
N.L. Dalmia Institute of Management Studies and Research
I have a strong conviction that you are going to achieve a

decision making position in your career within a short span of time. Let it
be any function of the organization; unless one has a realistic picture and
approach of the driving factors of any decision to be made, it becomes
extremely difficult to arrive at a decision which is equally risky. Thus the
study of Research Methodology will provide you with the knowledge and
skills and help you to learn different techniques of conducting research
which form a very important part of your job.
Thus to have a deeper insight in Research Methodology, I would like

you to study the process of research and hope it will help you to know
the procedures of collecting data, preparing questionnaires , preparing
reports etc.
Dr.Vijay Wagh
Core Faculty, Research Methodology

N. L. Dalmia Institute of Management Studies and Research
Executive Summary
Gone are the days when people would dip into their cash reserves
and savings to buy cars. Almost all – both individuals and companies –
prefer to buy vehicles on installments, because that allows them the
liberty of not having to invest a huge amount upfront. That’s the need gap
being filled by almost all banks and financial institutions, who now offer
auto loans on lucrative terms to consumers, egging them to fulfill their
dreams and aspirations, just by paying some extra interest. According to
industry estimates, in the last few years alone, 60% of cars were bought
through finance deals. Two-wheelers, being cheaper, had a smaller share
in the auto loans market. With more and more attractive car and two
wheeler brands and models jostling for the consumer’s attention, banks
and financial institutions, are also falling over each other to offer the most
customer-friendly loan schemes, which can suit even the most humble
earnings. That’s what creates an embarrassment of riches – a confusion
over which bank to choose and which loan to opt for.
Based on certain conditions, banks in India are more than willing to

extend a car loan to finance the major share of the car's cost.
Certain terms of services offered by Banks are explained as follows:
A secured loan
Beginning with the basics, a car loan by nature is a secured loan. The
vehicle or car you are buying will be the collateral or security for your

loan. Until you complete the loan repayments, your lender will have
complete authority over the purchased car.
The margin money or down payment

Initially, for a car loan, there is some amount (usually 15% to 30%
depending on the car model and bank), which has to be paid up front to
the car loan company. This amount is called the margin money or the
down payment.
Ex-showroom or on road prices:

Some banks provide car loans at On Road Prices. This means that the loan
amount sanctioned for your cars will contain the ex-showroom price of the
car plus the insurance, the road tax and any other amount that is
required. The car loan amount in case of On Road Price will be
significantly greater than the Ex-showroom price of the car. Let us take an
example.
Fixed and Floating Interest Rate:

A fixed interest rate loan is a loan where the interest rate doesn't
fluctuate during the fixed rate period of the loan. This allows the borrower
to accurately predict their future payments.
A floating interest rate loan is also referred to as adjustable, variable or

flexible interest rate loan. The home finance company will decide upon a
base rate -- known as the floating reference rate. In such a loan, the
interest rate keeps changing. So, the interest rate on the loan will go up or
come down depending on how the interest rate in the economy is moving.
This, in turn, will impact the EMI.

Loan to value, a ratio of the outstanding debt on a property to the
market value of that property
Loan tenor is defined as the length of time until a loan is due.
Structured home loans are products which are mapped to specific

individual needs as against a vanilla product offered to the customers at
large. These are dependent on factors like the profile of the customer, his
need, type of properties etc.
• Table repayment structure
This is the most common type of repayment structure where you pay
regular even amounts, subject to interest rate changes. Your early
repayments are mostly interest with a small amount of principal. As you
pay off your loan, this ratio gradually reverses.
• Step Down Payment Structure

The EMIs are large in the early part of the tenure, and are lowered
after some years.
• Step up Payment Structure

The EMI is lower in the early part of the repayment period, which
gradually increases as the income of the customer increases.
Typically, in this case, the loan is slotted into three ranches based
on the potential income profile of the customer.
• Balloon payment Structure

A balloon payment is paid back when the loan comes to its
contractual maturity – e.g., reaches the deadline set to repayment
at the time the loan was granted – representing the full loan amount
(also called principal). Periodic interest payments are generally
made throughout the life of the loan.
• Bullet payment structure

Bullet payment involves payment of standardized equated monthly
installments (EMI) for 11 months of a year except for an increase in
the EMI for one month per year of the loan period.
PART B

INTRODUCTION
PROBLEM STATEMENT:
To study the satisfaction level of existing ICICI Bank Auto loan customers.

RESEARCH OBJECTIVE:
➢ To study the impact of service.

➢ To study the impact of interest rate.
➢ To study the impact of competitors.

RESEARCH DESIGN
The Research design the company should have is:

1. Exploratory Research
2. Descriptive Research
Exploratory Research:-
This research allow us to gain information on a subject that we may

have previously known little about and furthermore, can also provide a
platform upon which a formalized research project can be built.
Exploratory research is used to assess the situation in hand with the
minimum cost and time possible. In this research project, we wanted to
first understand the role of ICICI Bank providing Auto loan to its existing
customers.
Descriptive Research:-
Descriptive research answers the questions who, what, where, when

and how. ICICI bank wanted to find out the satisfaction level of their
existing Account holders and what could be done to improve the
satisfaction level. For this reason, we designed a questionnaire which
would help us to gauge the customer’s response depending on various
Parameters that influence a customer’s satisfaction level.

HYPOTHESIS:
Set 1- H0: The satisfaction level of existing ICICI Bank Auto loan
customers is
dependent on service.
H1: The satisfaction level of existing ICICI Bank Auto loan customers
is not
customers is
dependent on interest rate.
is not
customers is
dependent on competitors.
is not dependent on competitors.

LITERTURE REVIEW
THE AUTO LOAN MARKET IN INDIA
Gone are the days when people would dip into their cash reserves
and savings to buy cars. Almost all – both individuals and companies –
prefer to buy vehicles on installments, because that allows them the
liberty of not having to invest a huge amount upfront. That’s the need gap
being filled by almost all banks and financial institutions, who now offer
auto loans on lucrative terms to consumers, egging them to fulfill their
dreams and aspirations, just by paying some extra interest. According to
industry estimates, in the last few years alone, 60% of cars were bought
through finance deals. Two-wheelers, being cheaper, had a smaller share
in the auto loans market.
With more and more attractive car and two wheeler brands and
models jostling for the consumer’s attention, banks and financial
institutions, are also falling over each other to offer the most customer-
friendly loan schemes, which can suit even the most humble earnings.
That’s what creates an embarrassment of riches – a confusion over which
bank to choose and which loan to opt for.
India has several good government and private banks that offer
different car loan schemes with varying interest rates. It is natural for

buyers to get confused looking at completely varied auto loan rates and
schemes. There are simple ways by which you can compare and contrast
car loan rates offered by different banks.
Start your comparison by classifying the banks into two broad

sectors. One would be government run banks like State Bank of India,
Union Bank, Punjab National Bank etc. Other category would be private
ones like HDFC, ICICI Bank, HSBC Indian Bank etc.
Government run banks generally would have strict regulations when

compared to private run banks. Hence car loan interest rates from
government banks may not be as attractive like those of private banks.
Here you will have to make a choice whether to go for attractive rates by
private banks with possible hidden costs or go for government banks that
are much safer to deal with.
Once you have decided your category, you will have to zero down
based on the amount you would like to borrow. For example, ICICI bank
offers attractive rates for smaller cars with value over one lakh. The limit
and auto loan interest rates would be different across banks for different
amounts.
Some car manufacturers have tie ups with banks to help customers
with easy finance options. For example, Citicorp India would be offering
attractive rates when financing selective cars including Maruti 800 (which
is a popular small low priced car).
Finally you would be left with two or three banks with two or three
loan schemes. Among these you will have to make a strict comparison of
the interest rates and repayment periods to arrive at your choice. These
data can be found from several leading websites and portals from India.
In any case note that, ICICI and HDFC are generally two good banks to
approach for car loan rates.

Auto Loans – 6 Keys to Getting Great Auto Loans
[1]
It’s always a delight to get the keys to a new car. For most, the only
challenge is paying for the car. Unless you have cash in hand, you’ll need
some type of auto loan. Follow these six keys to a great auto loan and you
can ride around knowing you got the best deal.
Key to a Great Auto Loan #1: Choose A Car: -
The first step that is essential is to choose a car of your choice and
find out its manufacturer, model. Also, don’t forget to find out the nearest
distributor for your convenience.
Key to a Great Auto Loan #2: Know How Much You Can
Spend

Cars look jazzy on websites and in showrooms. But can you afford it
with your income? Make a fair assessment about how much money will
you able to pay back each month if you were to go for an auto loan. This
would prepare you to approach auto finance companies. Don’t forget your
car’s running expenses though. Fuel isn’t cheap anymore!
Key to a Great Auto Loan #3: What’s the Cost of My

Dream Car? : -
You may love the car your neighbor drives, but its price tag may just
be too hot for you. Settle for a bunch of options, whose price tag is within
your reach. Don’t forget, there are a whole set of paraphernalia expenses
involved in the purchase of a car, which can sometimes throw your budget
out of gear.
1 - http://auto.indiamart.com/auto-finance/#tab
Key to a Great Auto Loan #4: What Are My Priorities? : -
You may be able to afford an auto loan of Rs 5 lacs, but paying an

equated monthly installment (EMI) of more than Rs 12,000 could be
stressful. On the other hand, you may want to save on interest rates, even
if the EMI is a bit steep, because you stand to gain in the long run. Figure
out what’s more important – conveniences of payment terms or lower
interest rates?

Key to a Great Auto Loan #5: Shop Around –
As you are ready to Explore & you have made up your mind that
you will take your loved ones out for a spin within a week, check out who
offers what, and which one is best suited for you
Key to a Great Auto Loan #6: Few Things to Remember:

-
Add Extra Expenses to Cost of Vehicle. Do not forget to add the

charges for car maintenance, fuel, interest and insurance rates to the cost
of vehicle. The gross is what the vehicle costs you.
Things You Ought to Know About Auto Finance [2]
• 90% of the cost of your new vehicle can be financed by banks.

• If you plan to buy a used vehicle, 85% of value of car can be
financed by the banks.

• Often, the interest is calculated on a monthly reducing balance.
• Your repayment tenure of auto loan may vary between 12-60
months.
• Repayment period may be for 7 years but is offered by very few
institutions.
• Non-banking finance companies generally charge more interest rate
than public sector banks.
• The maximum loan amount is up to 3 times the annual salary (for

salaried professionals) or 6 times the annual income (for self
employed professionals).
• Banks generally offer a preferential treatment to their existing

customers. If you have savings or current account with a bank, it is
easier to get the loan and you might also get preference in terms of
rate of interest.
• If you want to go for an early settlement of the loan amount, certain

charges are taken as a penalty.
• For the purpose of auto loan, the interest is calculated on

compound basis.
• There is also a minimum amount of auto loan that you have to take
from finance money.
• In case you have been declared bankrupt, applied for bankruptcy,

defaulted in some loan in the past or a court case pending against
you, it will be very difficult for you to get an auto loan.
• The rate of interest for an auto loan differs from one bank to the
other, while the minimum is somewhere around 10-11 percent.

2 - http://auto.indiamart.com/auto-finance/documents-required.html
Loan Schemes
There are four standard car loan versions. [3]
• Margin Money Schemes

• Security Deposit Schemes
• Advance EMI Schemes
• Processing Fees
• Margin money schemes
This is the most straightforward scheme of them all. For instance, if

a car costs Rs. 1 lakh, a typical scheme would require you to pay at least
10% up front, and you would get a loan of Rs. 90,000. The Loan to Value
(LTV) ratio is 90% in this case. The interest rate quoted will be on this Rs.
90,000. Thus if the rate quoted is 16% for 12 instalments, the EMI would
be Rs. 8,166. The interest rate is charged on a monthly basis.
• Security Deposit Schemes
This is a variation of the Margin Money Scheme. In this, the

company claims to give a loan of 100%, but asks for, say, 10% of the
amount in advance, which it will return at the end of the loan period.
In effect, you are still getting a loan of 90%. But the reason that you are
being "shown" a lower rate is that the designer is making interest on your
deposit for the period of the loan, when your money is lying with him. He
uses that money to offset the amount that he is charging less from you.
Some security deposit schemes offer interest on the deposit that you pay.

As long as this rate is lower than the rate that you are paying in a normal
margin money scheme, the designer can reduce the price of the loan.
Suppose you had to put in a deposit of Rs. 10,000 in the above case, on
which 14% is being offered. The scheme lets you borrow Rs. 1 lakh,
instead of only Rs. 90,000. In effect, he is borrowing the additional Rs.
10,000 from you at 14%, and is lending you that same money at 16%. So
he's making extra money, which he can afford to use to reduce the 16%.
Thus, he is using your own money to give you a lower rate.
• Advance EMI Schemes

Still another variation of the margin money scheme. The bank offers
to give the complete amount as loan, but, requires you to pay some
amount as EMIs in advance. It achieves two things:
- You are giving a down payment, thereby reducing the lending
amount and the risk along with it.
Also, the bank stands to gain on the amount of interest that it gets.
Firstly, it does not give the 100% loan it had promised. Secondly, the
interest that it charges on the amount that it has lent is in actuality
greater. This is because, it calculates the interest rate on what it has lent,
but forgets about the sum it has already taken in advance. Very simply
put, if the bank lent you Rs. 200 and collected Rs. 100 as advance EMI, it
will get its 16% on the Rs. 100 that it has actually lent, by telling you that
it is lending to you at 8% on the Rs. 200 that you (ostensibly) borrowed.
• Processing Fees
This is the most innocuous-seeming (and popular) method. At the

beginning of the period, the bank requires you to pay 2%-4% (typically) of

the loan amount as "processing" fees. In effect, the bank is lending you
lesser than it had promised which increases the effective rate that you are
paying. For example, if a bank lends you Rs. 1 lakh at 16% for one year
(12 EMI's), and charges you 3% as processing fees, you are in effect
paying an interest of 22%!
3 - http://auto.indiamart.com/auto-finance/advance-scheme-fees.html
Car Finance
Everyone wishes to own a car but it is the financial conditions of a

person that becomes the barrier. Car finance is the best option for those
who wish to buy a wonderful car but their pocket restrains them to do so.
People have now started using the car finance facility to pay for their
vehicle. Car finance means financial help for your vehicle and greater
peace of mind. Car finance easy options and quick processes can ensure
the best deal. [4]
Be it the financing of a new car, or a used vehicle, finance companies

offer plenty of options before you for car and auto loans. You can apply for
car finance from a variety of sources like banks, credit unions, loan
brokers, auto finance companies, etc. Car financing companies help the
customers to finance their cars in the most cost effective way.
Here, is information about the finance schemes of various banks from

where you can get secured car loans as per your budget. Car finance is
easily available provided that a person meets all the conditions of this

facility.
Some banks with details of schemes are given below :
• Citicorp Maruti
• The Financial Services Company of Fiat
• HDFC BANK Ltd.
• ICICI
• The Saraswat co-op BANK LTD.
• Standard Chartered Bank - India
• SBI
• Tata Finance Ltd.
• Citibank
4 - http://auto.indiamart.com/auto-finance/car-finance.html
SBI BANK CAR LOANS
State Bank of India has an extensive administrative structure to

oversee the large network of branches in India and abroad. The Corporate
Centre is in Mumbai and 14 Local Head Offices and 57 Zonal Offices are
located at important cities spread throughout the country. The Corporate
Centre has several other establishments in and outside Mumbai,
designated to cater to various functions. Our Colleges/Institutes/Training
Centres are the seats of learning and research and development to spread
the wings of knowledge not only to our employees but also other
banks/establishments in India and abroad.[5]
• Eligibility
 Maximum age of the proprietor - 60 years

 Minimum of 1 year of existence for proprietors and three
years for corporate and partnership firms
 Minimum net income of Rs. 1 lakh for last two years
 Minimum turnover of Rs. 5 lakhs for proprietorship, 10
lakhs for partnership and Rs. 6 lakhs for Corporate.
• Purpose
 Purchase of new car/ jeep/ MUV of any model by non

individuals
 Proprietors are eligible to purchase old vehicles (not
more than 4 years old)
• Nature of facility
 Term loans
• Margin
 Term loan for new vehicle up to Rs 6 lakhs - 15%

 Term loans over 6 lakhs for old vehicles up to 2 years -
30%
 Old vehicles of 2 to 4 years - 40%
• Tenure of Loan
 Term loan
 Repayable in 84 months for new vehicles
 Repayable in 60 months for old vehicles up to 2 years
old
 Repayable in 36 months for vehicles more than 2 years
and up to 4 years old
 Short term loan is repayable in 36 monthly installments
(new and up to 2 year old vehicles only)

• Primary security
 Hypothecation of the vehicle by noting Banks charge on in
the books of SRTO
• Collateral security
 Tangible security of borrower or guarantor valued for not
less than 35% of the loan
 Post dated cheques to be obtained for the EMIs
 Personal guarantees of the MD and other directors in case
of corporate
• Loan amount
 2 times the net annul income/annual cash accruals less
repayment obligations
 Maximum of Rs. 2 lakhs in the normal course for new
vehicles
• Rate of Interest
For short term loans 10.25%
Floating rate 11.00%
Fixed Rate 11.50%
5 – www.rupeestimes.com
HDFC BANK AUTO LOANS
• New Car Loan

 Just decide on the make &model and our New Car Loan will
bring it to your driveway in no time.
• Features & Benefits

 Covers the widest range of cars and multi-utility vehicles in
India.
 Borrow up to 90% of the car's invoice value.
 Flexible repayment options, ranging from 12 to 84 months.
 Borrow up to 3 times your annual salary (for salaried

professionals) and 6 times your annual income (for self-
employed professionals)*.
 Speedy processing - within 48 hours.
 Repay with easy EMIs.
 Attractive car loan plans - To Fastrack your loan, just

choose the plan that is right for you.
 Among the lowest interest rates.
 Hassle-free documentation.
 Prepayment option - prepay the loan anytime after 6

months at a small charge.
 Customer Privileges
# If you are an HDFC Bank account holder, we have special rates for you.
# If you have had a Preferred Account or a Corporate Salary Account with

HDFC Bank for more than six months, you can get fast approvals on your
loans with minimal documentation.
# If you are an existing HDFC Bank Car Loan customer with a clear
repayment of 12 months or more we can Top-Up your car loan at a
reduced interest rate.
*This would also vary with higher loan value

• Used Car Loan
HDFC Bank's Used Car Loan will put you in the driver's seat. What's more,
HDFC Bank also helps you select good quality used cars and even value
them.
Features & Benefits
 Choose any car manufactured in India within a certain age*.
 Borrow up to 80% of the value of the car.
 Flexible repayment options, ranging from 12 to 60 months.
 Borrow up to 3 times your annual salary (for salaried

professionals) and 6 times your annual income (for self-employed
professionals).
 Available for almost all car models at attractive interest rates.
 Repay with easy EMIs.
 Attractive car loan plans - To Fastrack your loan, just choose the
plan that is right for you.
 Customer Privileges
# Special benefits for HDFC Bank account holders.
# If you have had a Preferred Account or a Corporate Salary Account with

HDFC Bank for more than six months, you can get fast approvals on your
loans with minimal documentation.
* Age of Car at loan maturity should not cross 10 years subject to

maximum loan tenure of 60 months.
**This would also vary with higher loan value

• Eligibility & Documentation
• Salaried Individuals
○ Eligibility Criteria:
 Minimum age of Applicant : 21 years
 Maximum age of Applicant at loan maturity : 60 years
 Minimum employment : 1 year in current employment and
minimum 2 years of employment
 Gross household income i.e. including income of the
spouse : Rs 100000 net annual income
 Telephone : Necessary at residence
○ Documents required:
 Age Proof: Any one of Passport copy, PAN Card, Voters ID
card, Photo driving license with birth date ( laminated,
recent , legible), Photo ration card with DOB, Employer
certificate/ID, School/College Leaving certificate.
 Proof of Identity: Any one of Passport copy, PAN Card,
Voters ID card, Photo driving license with birth date, Photo
ration card with DOB.
 Income Proof: Latest salary slip with latest form 16/latest
ITR. HDFC bank corporate salary account statement for
salary credits of above Rs 8000 for three months.
 Address Proof: Any one of Photo Ration card with DOB,
Photo Driving licence with DOB, Voters ID card, Passport

copy, Telephone bill, Electricity bill, PAN Card, Credit Card
statement with credit card copy, Employer certificate/ID.
 Sign Verification Proof: Any one of Passport copy, Photo
driving licence with birth date (laminated, recent, legible),
Credit Card statement with credit card copy, Banker's
verification, Copy of margin money paid to bank.
• Self Employed
○ Eligibility Criteria:
 Minimum age of Applicant : 21 years
 Maximum age of Applicant at loan maturity : 65 years
 Minimum employment : Atleast 3 years in business
 Minimum Annual Income : 60000
 Telephone : Necessary at residence
 Age Proof: Any one of Passport copy, PAN Card, Voters ID
card, Photo driving licence with birth date (laminated,
recent , legible), Photo ration card with DOB, Employer
certificate/ID, School/College Leaving certificate.
 Proof of Identity: Any one of Passport copy, PAN Card,
Voters ID card, Photo driving licence with birth date
(laminated, recent, and legible), Photo ration card with
DOB.
 Income Proof: Any one of Latest ITR, Latest Income Tax
Assessment Order.
 Address Proof: Any one of Photo Ration card with DOB,
Photo Driving licence with DOB, Voters ID card, Passport
copy, Telephone bill, Electricity bill,
 PAN Card, Credit Card statement with credit card copy,
Employer certificate/ID.

driving licence with birth date (laminated, recent, legible),
• Partnership Firms
○ Eligibility Criteria
 Minimum Income : Rs. 60000 p.a
 Minimum turnover : Turnover Rs 4.5 lacs
 Telephone: Landline at office and at residence of the
loan executing partner. Post-paid mobile phone of three
month vintage acceptable in case of landline at only one
place.
 Age Proof: Partnership deed.
 Proof of Identity: Partnership deed.
 Income Proof: Latest ITR and latest Balance Sheet along
with Profit and Loss Account. In case of Business
turnovers exceeding 40 lacs or Professional turnovers
exceeding 10 lacs, the Balance sheet needs to have
been audited and in which case the latest Income Tax
Return need not be taken.
 Address Proof: Partnership deed or any of Telephone
bill, Electricity bill, PAN Card.
driving licence with birth date (laminated, recent ,
legible), Credit Card statement with credit card copy,

Banker's verification, Copy of margin money paid to
bank.
• Private Limited Company

 Minimum Income: Rs. 60000 p.a.
 Telephone : Landline at office
 Age Proof: Memorandum and Articles of Association /
Certificate of incorporation.
 Proof of Identity: Memorandum and Articles of Association /
 Income Proof: Latest ITR and latest audited Balance Sheet
along with Profit and Loss Account.
 Address Proof: Memorandum and Articles of Association /
Certificate of incorporation or any of Telephone Bill,
Electricity Bill or PAN Card.
driving licence with birth date (laminated, recent , legible),
• Public Limited Company

 Minimum Income: 60000 p.a.
 Telephone : Landline at office
 Age Proof: Memorandum and Articles of Association /

 Proof of Identity: Memorandum and Articles of Association /
 Income Proof: Latest ITR and latest audited Balance Sheet
along with Profit and Loss Account.
 Address Proof: Memorandum and Articles of Association /
Certificate of incorporation or any of Telephone Bill,
Electricity Bill or PAN Card.
driving licence with birth date (laminated, recent , legible),
KOTAK BANK AUTO LOAN

Kotak Mahindra Prime Limited (KMPL) is a subsidiary of Kotak Mahindra
Bank Limited formed to finance all passenger vehicles. The company is
dedicated to financing and supporting automotive and automotive related
manufacturers, dealers and retail customers. The Company offers car
financing in the form of loans for the entire range of passenger cars and
multi utility vehicles. The Company also offers Inventory funding to car
dealers and has entered into strategic arrangement with various car
manufacturers in India for being their preferred financier.
At Kotak Car Finance, we promise you flexibility and speedy processing. In

short, we have made car ownership easy.

We are committed to getting you into the driver’s seat without much ado.
Just decide on the car you want, select one of many schemes and just
apply.
There are various schemes available in the market that you can choose
according to your need
• Margin Money Scheme
In this scheme, we finance your car for upto 90% for certain models. You
will have to give us a down payment for the margin amount, ( invoice
value minus Finance amount). The financed amount can be repaid as per
your convenience in tenures of 12 months to 60 months at your
convenience either through Equated monthly Installments or a differential
plan that we can tailor for you to minimize your outflow.
• Security Deposit Scheme
In this scheme, you will have to pay a refundable 10 - 25% security

deposit upfront. The deposit will help you earn interest while you pay
through the normal Equated monthly installments. This scheme is
beneficial for people who plan to invest in bank fixed deposits and yet
want their car financed.
BANK KMPL
TENURE DEPOSIT Additional Earning
[8%] [11%]
3 Years 50,000 63,412 66,500 3,088
4 years 50,000 68,639 72,000 3,361
** Rate of Interest would be applicable as on date of taking finance
** The Bank rate of 8% is calculated at a compounded quarterly rate and

the KMPL rate of 11% is calculated at simple interest.

Advance EMI Scheme
In this scheme, you make the payments of a few monthly installments

upfront. The balance is payable through Equal Monthly Installments. With
the advance installments you can repay your loan much faster.
Special schemes offered by KMPL
From time to time we bring in special schemes under tie up with various
manufacturers.
Kotak Mahindra Prime not only offers you attractive finance schemes but
also helps you with, Sale of existing car, Credit life and your Car
Insurance.
Receiving the KMPL Offer
1) Hire Purchase: In this product offer, the car will be bought by us

and your will use it under hire-purchase agreement with KMPL. The
ownership will be transferred to you after the last rental is paid by you.
The benefits for you as consumer in this product is that you can treat the
hire charges (part of the rentals) paid by you as an expense in your books
of accounts and therefore eventually reduce the burden of tax levied on
you. Depreciation can be claimed for tax purposes, as applicable.
2) Loan: In this offer, you can buy from the dealer with the loan amount
sanctioned by KMPL. The car will feature as an asset in your books of
account which will help you claim depreciation for taxation purposes. You
can also treat the interest component of the rentals as an expense.
3) Lease: If you opt for this product, the car will be owned by KMPL and
will be leased to you on rent. You can avail of tax benefits as the entire
rental will be accounted in your books as expense. The lease product is
beneficial for profit making corporate's.

Based on the preferred product, the scheme can be structured to exactly
match your requirements on tenure and cash flows.
BANK KMPL
TENURE DEPOSIT Additional Earning
[8%] [11%]
3 Years 50,000 63,412 66,500 3,088
4 years 50,000 68,639 72,000 3,361
** Rate of Interest would be applicable as on date of taking finance
** The Bank rate of 8% is calculated at a compounded quarterly rate and

the KMPL rate of 11% is calculated at simple interest.
If you want you can pay a few monthly installments up front. The balance
is payable through Equal Monthly Installments. With the advance
installments you can repay your loan offers 100% finance at 0% interest
also on certain car models. These schemes are based on certain terms
and conditions and normally facilitated by our tie-ups with manufacturers.
• Documentation
Once the vehicle, product and scheme are finalized, it will be time for us
to initiate the process of making finance available to you as soon as
possible, In order to know a little about our customer we require the
following documents to process the loan application.
The table below represents the documents required from your. Please
identify yourself in the appropriate category and arrange for these
documents. We assure you that once these are in place us will be able to
process the finance in the shortest of time.

Salaried Self
Propriet Partners Compani
Documents Concern Employe
ary hip es
s d Firm

KMPL App. Form
YES YES YES YES YES
duly filled by you
Latest Salary Slip

showing statutory YES - - - -
deductions
Form 16 / IT Returns YES - - - -
Proof of Residence
(copy of electricity/ YES YES YES YES YES
telephone bill)
Signature
Verification from
your Banker /
Voters ID / IT PAN YES YES YES YES YES
card / IT Return /
Driving License/
Passport
Computation of
Income for the last
YES YES YES YES YES
2 years certified by
CA
P&L A/C and B/S for

the last 2 years - YES YES YES YES
certified by CA
Copies of Income
Tax Returns for the YES YES YES YES YES
last two years
Partnership Deed / - - - YES -

Trust Deed
Letter of Authority - - - YES -
MOA and Board

Resolution
authorizing one - - - YES YES
director to execute
the agreement.
Photograph (one
signed by the YES YES YES - -
customer)
Credit Evaluation
A KMPL credit officer will evaluate your credit worthiness based on the
documents submitted by you along with the FI report. A field investigation
office will visit you for additional information that will help us process your
loan. The additional information will be part of the FI report.
• Processing of Finance
After Credit approval, we will enter into an agreement with you and collect
post dated cheques (PDCs). PDCS will save you from the hassle of
arranging for cheques every month.
You also need to give us a pay order or cheque for the initial payment (IP)
(upfront money as applicable) and the insurance cover note. Within 48
hours of our receipt of complete documentation, signed agreement, IP and
PDCs, we will make the payment to the dealer for your car.
Please note: The IP amount can be given to KMPL in the form of
1. Pay order
2. Cheque

If we are given a pay order it will take us 24 hours to process your finance.
While a cheque will take us 3 working days. (The time taken is dependent
on the time taken for bank clearance)
• Delivery of your car
The time has finally arrived for you to take delivery of your car. For the
delivery, you will receive a call from our Customer Service Cell intimating
you about allotment and tentative date of delivery (if the car is not
available off-the-shelf).
Please Note: Date of delivery of cars is the responsibility of the

manufacturers and dealers and is dependent on their production
schedule.
• Pricing Disclaimer
Prices quoted herein have been updated as on August 2003.

Though efforts have been made to keep these prices near to accurate, we
do not take the responsibility for the accuracy of this information.
 The prices quoted here are only indicative and are near to
accurate and prices prevailing at the time of the actual
sales/invoicing/delivery will be applicable.
 The prices quoted are for current specifications as available in
the buy new section and with the dealers location-wise.
 The prices quoted may vary from one dealer to the
other,location-wise.
 Generally, prices prevailing at the time of sales/invoicing is
applicable.
 The prices quoted for Delhi location applies only to EURO II
vehicles.

 In few of the luxury segment models, the registration,
octroi,other taxes, insurance & dealer service charges are as
applicable location-wise.
 In few locations, registration charges and taxes are applicable
for lifetime or annually and applies to company or individual
as per the law existing.
 The Prices mentioned are applicable only to NON-METALLIC
(solid) colors. Whereas there are few models where pricing is
common to both Metallic and Non- Metallic colors.
• Receiving Agreement and Re-Payment Schedule
At the time of delivery, please collect the invoice from the dealer. Also,
ask the dealer when you can collect the RC book as registration can take
a long time. Send us a photocopy of the invoice. Also please send us a
photocopy of the RC book as soon as you receive it. Subsequent to
receiving the above document, we will send the Agreement copy and
Repayment Schedule to you by courier.
These are the seven simple steps to acquiring you car. And we hope this
give you a feel of what KMPL car finance is all about.

SBI BANK AUTO LOAN
Introduction
The bank provides loans for purchase of both new as well as second
hand vehicles.[6]
Highlights
New Car Used Car
Loan Type Term Loan Term Loan
Ex-Showroom/On Road On Road On Road
Loan Amount Maximum allowable maximum

loan amount is Rs allowable loan
800000. amount is Rs
500000.
Tenure Min. - 12 months. Min. - 12 months.

Max. - 84 months. Max. - 36 months.
Interest Rate 11.5 % 11.5 %
Preferred Manufacturers Chevrolet, FIAT, Chevrolet, FIAT,

Ford, GENERAL Ford, GENERAL
MOTORS INDIA, MOTORS INDIA,
HINDUSTAN HINDUSTAN
MOTORS, Honda, MOTORS, Honda,

Hyundai, Mahindra, Hyundai, Mahindra,
Maruti, Mercedes- Maruti, Mercedes-
Benz, Mitsubishi, Benz, Mitsubishi,
Nissan, Reva, SAN Nissan, Reva, SAN
Engineering, Skoda, Engineering, Skoda,
Tata Motors, Toyota Tata Motors, Toyota
Fees & charges
New Car Used Car
Stamp Duty As Per Actuals As Per Actuals
Legal, Repossession and As Per Actuals As Per Actuals

Incidental Charges
Comment on Charges margin: 20% margin: 35%

Processing processing fees:
charges: 1% 1%

6-
http://www.rupeetimes.com/compare/car_loans/state_bank_of_indi
a.html
CITI BANK CAR

LOAN
Introduction
Give wheels to your dream with Citibank car loan. Bank offers auto
loan at competitive interest rates with easy repayment options. The
existing Citibank customers gets loan sanctioned in just 30 minutes.

Highlights
New Car Used Car
Ex-Showroom/On Road On Road Ex-Showroom
Loan Amount Min. - Rs 100000 Min. - Rs 50000

Max. - 90 % Max. - 60 %

Interest Rate 13.25 % 16 %
Time to Process Loan 7 days 2 days
Preferred Manufacturers Chevrolet, FIAT, Chevrolet, FIAT,

Ford, GENERAL Ford, GENERAL
MOTORS INDIA, MOTORS INDIA,
HINDUSTAN HINDUSTAN
MOTORS, Honda, MOTORS, Honda,
Hyundai, Mahindra, Hyundai, Mahindra,
Maruti, Mercedes- Maruti, Mercedes-
Benz, Mitsubishi, Benz, Mitsubishi,
Nissan, Reva, SAN Nissan, Reva, SAN
Engineering, Skoda, Engineering, Skoda,
Tata Motors, Toyota Tata Motors, Toyota
Fees & charges

New Car Used Car
Stamp Duty As Per Actuals As Per Actuals
Legal, Repossession and As Per Actuals As Per Actuals

Incidental Charges
Eligibility Criteria
Salaried:
Income Rs 8000
Age Min.: 21 Yrs. Max.: 58 Yrs.
Current Employment Years 1 Yrs.
Total Employment Years 2 Yrs.
Documents Required:
ID Proof Yes
Residence Proof Yes
Income Proof Yes
Telephone No
Photograph Yes
Bank Statement No
Signature Proof Yes

Self Employed:
Income Rs 60000
Documents Required:
ID Proof Yes
Residence Proof Yes
Income Proof Yes
Telephone No
Photograph Yes
Bank Statement No
Signature Proof Yes

Customer Satisfaction – An Introduction
Organizations are increasingly interested in retaining existing

customers while targeting non-customers; measuring customer
satisfaction provides an indication of how successful the organization is
at providing products and/or services to the marketplace.
Customer satisfaction is an ambiguous and abstract concept and the
actual manifestation of the state of satisfaction will vary from person to
person and product/service to product/service.[7] The state of
satisfaction depends on a number of both psychological and physical
variables which correlate with satisfaction behaviors such as return and
recommend rate. The level of satisfaction can also vary depending on
other options the customer may have and other products against which
the customer can compare the organization's products.
An organisation with a strong customer service culture places the

customer at the centre of service design, planning and service delivery.
Customer centric organisations will:
• Determine customer expectations when they plan
• Listen to the customer as they design

• Focus on the delivery of customer service activities
• Value customer feedback when they measure performance.
The process for measuring customer satisfaction and obtaining

feedback on organizational performance are valuable tools for quality
and continuous service improvement.
7 - http://en.mimi.hu/marketingweb/customer_satisfaction.html
Customer expectations are the customer-defined attributes of your

product or service you must meet or exceed to achieve customer
satisfaction.
What do Customers Want?
Before we begin to create tools to measure the level of satisfaction, it is

important to develop a clear understanding of what exactly the customer
wants. We need to know what our customers expect from the products
and services we provide.
Customer Expectations are of two types - Expressed and Implied.
• Expressed Customer Expectations are those requirements that are

written down in the contract and agreed upon by both parties, for
example, product specifications and delivery requirements.
Supplier's performance against these requirements is most of the
times directly measurable.
• Implied Customer Expectations are not written or spoken but are

the ones the customer would 'expect' the supplier to meet

nevertheless. For example, a customer would expect the service
representative who calls on him to be knowledgeable and
competent to solve a problem on the spot.
There are many reasons why customer expectations are likely to

change over time. Process improvements, advent of new technology,
changes in customer's priorities, improved quality of service provided by
competitors are just a few examples.
The customer is always right. Supplier's job is to provide the Customer

what he wants, when he wants it. Customer Satisfaction is customers'
perception that a supplier has met or exceeded their expectations.
It is therefore important to periodically update our knowledge of customer

expectations.
What constitutes Satisfaction?
We cannot create customer satisfaction just by meeting customer's

requirements fully because these HAVE to be met in any case. However
falling short is certain to create dissatisfaction.
Major attributes of customer satisfaction can be summarized as:
• Product Quality
• Product Packaging
• Keeping delivery commitments
• Price
• Responsiveness and ability to resolve complaints and reject reports
• Overall communication, accessibility and attitude

We cannot begin to address the customer satisfaction issue we define
the parameters and measures clearly.
Customer Satisfaction
Reviving the rather worn out debate on consumers and their
relationships with companies/the companies brands/the companies
marketers/the companies salesmen entirely for my amusement, lets hook
on to the latest statement that's making the rounds.. One of those that
sound really heavy but are a wee bit on the flaky side when it comes to
believability-100% customer satisfaction.
Customer satisfaction, like all good but gassy things in the world,
has managers and CEOs tripping over one another to tell customers that
they are on top of the pile. We all know the Kotler ratios- the magic
numbers with regard to customer satisfaction:
Five: cost of getting a new customer/ cost of keeping an old one
Ten: The number of people a disgruntled customer will
complain/whine/crib to.

Eighty: the percentage of dissatisfied customers that will abandon ship.
Four: the percentage of customers who will tell you when you mess up.
If you aren't the best at pleasing your customers, the numbers definitely
tend to work against you. So right now, the companies have decided that
the customer is at the "core" of a company's processes and practices.
Initially we had to have a company's "core process" defined. People first

said that it was manufacturing. So we wrote books telling everyone. We
taught it in college courses. "Operations" was the in thing to take. Then a
little while later they were like, "You know, I really think its marketing". So
we rewrote all our textbooks. We revamped our college courses.
Marketing dressed you for success. And now these guys turn around and
say, hey we were fooling you all this while, the core is the customer. The
core is you and I.
Customer Satisfaction Index (CSI)
The Customer Satisfaction Index represents the overall satisfaction

level of that customer as one number, usually as a percentage. Plotting
this Satisfaction Index of the customer against a time scale shows exactly
how well the supplier is accomplishing the task of customer satisfaction
over a period of time.
“While finance providers strive to provide good customer service to

consumers, the key to consumer financing satisfaction is focusing on fine-
tuning processes and procedures that reduce the need for consumers to
contact their finance provider.” [8]
The study identifies four factors that contribute to satisfaction with an

automotive finance provider. They are: the provider offering; the
application/approval process; the payment/billing process; and the
customer contact experience. While each factor influences finance

provider satisfaction, the payment/billing factor has the greatest impact
on how consumers rate their satisfaction, regardless of the type of
financing.
8 - http://www.crm2day.com/content/t6_librarynews_1.php?
news_id=112793
J.D. Power and Associates 2005 Consumer Financing Satisfaction Study.SM
Customer satisfaction high in Car Industry
According to the findings of the 2010 four-wheeler total customer

satisfaction study released by leading market information provider, TNS,

the car industry continued to provide a high level of customer satisfaction
even when the customers had to wait to buy cars of their choice. The
SUV/MPV and Premium SUV segments even showed a little improvement
over the previous year. [10]
The 2010 four-wheeler Total Customer Satisfaction (TCS) study conducted

by TNS specialist division, TNS Automotive, is the largest syndicated
automotive study in India, representing the responses of around 9,300
new car buyers. This comprehensive study covers 56 models with
customer evaluations taken in the key areas of sales satisfaction, product
quality, vehicle performance and design, after sales service, brand image,
and cost-of-ownership. The TCS index score provides a measure of Total
Satisfaction and loyalty a given model enjoys with its customers.
Overall the industry score has largely remained the same (90), indicating
highly stable user relationships. However, some traditionally strong
models have seen a dip in scores this year. Interestingly, this year, two of
the first time evaluated models (as they have gained critical mass in the
market in their respective segments), emerged as the top ones
(Volkswagen Polo in Upper Premium Compact jointly with Maruti Swift and
Volkswagen Passat in Entry Luxury).
Rankings for the TCS study are done at the vehicle segment-level to
provide comparisons among similar groups of vehicles. Thus Volkswagen
has done well in the small car segment otherwise ruled by Maruti. They
are also beginning to compete with Honda in the bigger car segment. The
competition is getting intense is evident from the fact that in many of the
segments the scores are very close and there are joint toppers in a
number of segments.

The models ranking highest in their respective segments for total
customer satisfaction are:
Segment Top Ranking Model/s
Entry Compact Maruti Alto
Premium Maruti Zen Estilo and

Compact Maruti A Star(Jointly)
Upper
Volkswagen Polo and
Premium
Maruti Swift (Jointly)
Compact
Entry Midsize Maruti Swift DZire
Honda City and Ford Fiesta

Midsize
(Jointly)
Premium
Toyota Corolla Altis
Midsize
Entry Luxury Volkswagen Passat
Toyota Innova and

SUV/ MPV
Mahindra Scorpio (Jointly)
Premium SUV Honda CRV
Overall the Indian car industry has seen a great performance in terms of
car sales. Simultaneously it has been able to maintain a high level of
satisfaction as well.

10- http://www.indiainfoline.com/Markets/News/TNS-Automotive-
Customer-satisfaction-high-in-car-industry-despite-high-
growth/5090124270
ICICI Bank
ICICI Bank is India's second-largest bank with

total assets of Rs. 3,634.00 billion (US$ 81 billion) at
March 31, 2010 and profit after tax Rs. 40.25 billion (US$ 896
million) for the year ended March 31, 2010. The Bank has
a network of 2,528 branches and 6,000 ATMs in India, and has
a presence in 19 countries, including India. [11]
ICICI Bank offers a wide range of banking products and financial services
to corporate and retail customers through a variety of delivery channels
and through its specialized subsidiaries in the areas of investment
banking, life and non-life insurance, venture capital and asset
management.
The Bank currently has subsidiaries in the United Kingdom, Russia and
Canada, branches in United States, Singapore, Bahrain, Hong Kong, Sri
Lanka, Qatar and Dubai International Finance Centre and representative
offices in United Arab Emirates, China, South Africa, Bangladesh, Thailand,
Malaysia and Indonesia. Our UK subsidiary has established branches in
Belgium and Germany.
ICICI Bank's equity shares are listed in India on Bombay Stock Exchange
and the National Stock Exchange of India Limited and its American
Depositary Receipts (ADRs) are listed on the New York Stock Exchange
(NYSE).

11 – http://www.icicibank.com/aboutus/about-us.html
PRODUCTS AND SERVICES
• BANKING ACCOUNTS:
ICICI Bank offers a wide range of banking accounts such as
Current, Saving, Life Plus Senior, Recurring Deposit, Young Stars,
Salary Account etc. tailor- made for every customer segments, from
children to senior citizens. Convenience and ease to access are the
benefits of ICICI Bank accounts. [12]
• YOUNG STARS ACCOUNT: A special portal for children to

learn banking basics manages personal finances and has a lot of
fun.
○ BANK@CAMPUS:
This student banking services gives students access to
their account details at the click of a mouse. Plus, the student
gets a cheque book, debit card and annual statements.
○ SAVINGS ACCOUNTS:
Convenience is the name of the game with ICICI bank’s
savings account. Whether it is an ATM/debit card, easy

withdrawal, easy loan options or internet banking, ICICI bank’s
saving account always keep you in touch of money.
○ FIXED DEPOSITS:
ICICI Bank offers a range of deposit solutions to meet
varying needs at every stage of life. It offers a range of
tenures and other features to suit all requirements.
12 – ICICI Bank Annual Report 2009
• INSURANCE
The ICICI group offers a range of insurance products to cover

varying needs ranging from life, pensions and health, to home,
motor and travel insurance. The products are made accessible to
customers through a wide network of advisors, banking partners,
corporate agents and brokers with the added convenience of being
able to buy online.
○ LIFE INSURANCE:
The ICICI group provides the many life insurance
products through ICICI Prudential Life Insurance Company.
○ GENERAL INSURANCE:

The ICICI group provides the many general insurance
products like motor, travel and home insurance through ICICI
Lombard General Insurance Company.
• LOANS
ICICI bank offers a range of deposits solutions to meet varying needs

at every stage of life. It offers a range of tenures and other features to suit
all requirements. ICICI Bank offers wide variety of Loans Products to suit
your requirements. Coupled with convenience of networked branches/
ATMs and facility of E-channels like Internet and Mobile Banking, ICICI
Bank brings banking at your doorstep. Select any of our loan product and
provide your details online and our representative will contact you for
getting loans.
○ HOME LOAN: [13]
The No. 1 Home Loans Provider in the country, ICICI Bank Home
Loans offers some unbeatable benefits to its customers - Doorstep
Service, Simplified Documentation and Guidance throughout the Process.
It's really easy!
Since making its maiden venture in the home loan segment in 1999,
ICICI Bank has been breathing down the neck of market leader HDFC, with
its aggressive marketing strategy. Quality and value-added service -
rather than interest rate - have been the hallmark of ICICI, with the
company capitalizing on the absence of `door delivery' for housing loans.
In a marked shift from the existing industry norms, ICICI carved a niche
for itself by going to the potential borrower rather than waiting for him to
come to them. Check out more information on the housing loans provided
by ICICI bank.

Products
➢ ICICI 'MaxMoney' Home Loans offer the unique advantage of higher

loan eligibility, with a lower initial installment. One can get up to
30% higher amount against one's current income and the
installment amount gets stepped up over the years.
➢ ICICI 'SmartFix' Home Loans combine the safety of fixed rates plus
the advantages of floating rates. For the first 3 years the borrower
gets a fixed interest rate and the fourth year onwards, the loan gets
switched to the prevailing floating interest rate.
➢ ICICI Bank offers Home Improvement Loans for renovation
/refurbishment of one's home. One can avail of loan up to Rs. 50
Lakhs and the interest rate is same as that of the Home Loans. The
loan covers up to 70% of the cost of improvement and the
repayment period is 15 years.
Features
➢ ICICI bank offers home loans for the first purchase in ready
construction, under construction property, purchase in re-sale, self
construction and extension of existing living space.
➢ The loan amount can be up to 80% of the Cost of Property.
➢ The applicant can conveniently repay the loan over a period up to
25 years.
13 - http://www.iloveindia.com/real-estate/housing-finance-
companies/icici.html
Benefits
➢ ICICI home loans come with benefits like easy interest rates,
simplified documentation, doorstep service and free personal
accident insurance.

➢ The facility of 'Loan On Phone' is beneficial for salaried or self-
employed residents of India, applying for an ICICI Home Loan. The
facility provides easy loan to the customer, with minimum
documentation.
➢ ICICI Bank has announced a shift in the existing benchmark rate
from Floating Reference Rate (FRR)/ I-BAR the Base Rate (I-Base).
The same will be effective for all it's mortgage products from July 1,
2010.
➢ The current ICICI Bank Base Rate (I-Base) is at 8.75%. This is the
minimum rate that ICICI Bank will charge to its new customers.
• Land loans give an opportunity for individual customer to purchase
a residential plot of land to do self- construction. Thus, customer can
invest now in a plot of land & build in future. The Land loan can be
financed only within municipal limits of HUB locations or in case of
direct allotment outside municipal limits by DA.
Land Loans can be availed by Resident Indian whether Salaried or
Self-Employed and also by Non- Resident Indian.
• Home Improvement Loan is offered to facilitate improvement of a
self-owned dwelling unit to existing or new customer. HIL considers
a range of facilities internal or external to the structure without
increase in the living pace. Thus, a customer can add or improve
facilities to his dwelling unit with a loan at Home Equity Loan rate of
interest.
Home Improvement Loan can be availed by Resident Indian
whether Salaried or Self-Employed.
• Office Premises Loan
A self-employed businessman or professional needs a permanent
address to set up his business. With ICICI Bank's Non-Residential
Premises Loans you can do that, easily and conveniently. These
loans cover purchase, construction, extension and improvement of

office premises. The loan may also be packaged to include the
estimated renovation expenses.
• Lease Rental Discounting
Lease Rental Discounting helps to raise funds against the
future expected rentals of self owned commercial property. The
property should be occupied by the Lessee. Similar to Home Equity
Loans, LRD can be provided for any personal requirements of the
customer viz. –
○ Marriage.
○ Child Education.
○ Business.
○ Purchase of Property (Where mortgage is not possible).
○ Improvement of Property.
○ Medical Treatment.
Lease Rental Discounting can be availed by Resident Indian whether

Salaried or Self-Employed
Service Charges & Fees [14]
ICICI Home Finance ensures that you get the best Home Loans in terms of
interest rates and other facilities. You can choose from Adjustable, Fixed
or Floating Rate Home Loan.
Charges Home Loans
Loan Processing 0.5% of the loan amount or Rs. 1500/- (Rs. 2000/-
Charges / Renewal for Mumbai, Delhi & Bangalore), whichever is higher
Charges + applicable Service Tax & Surcharge
Prepayment Charges NIL - 2% + applicable Service Tax & Surcharge

on full prepayment
Charges for late Home Loans : 2% per month

payment Home OD : 1.5% of the outstanding amount
subject to minimum of Rs. 500/- & Maximum of
Rs.5000/-
Charges for changing 1.75% on principal outstanding

from fixed to floating
rates of interest
Charges for changing 1.75% on principal outstanding

from floating to fixed
rates of interest
Cheque Swap Charges Rs. 500/-
Document Retrieval Rs. 500/-

Charges
Cheque bounce charges Rs. 200/-
Amortisation Schedule Rs.100 per schedule (Inclusive of S.T.)*
Statement of Account Rs.100 per statement (Inclusive of S.T.)*
Final prepayment Rs.100 per statement (Inclusive of S.T.)*

statement
Duplicate No Objection Rs.100 (Inclusive of S.T.)

Certificate / No Due
Certificate
Revalidation of No Rs.100 per NOC (Inclusive of S.T.)*

Objection Certificate
Provisional Income Tax Nil

Certificate

Final Income Tax Nil
Certficate
Interest Certificate NA
Change of Address Nil
Agreement Copy Nil
No Objection Nil
Certificate / No Due
Certificate
14 - http://www.icicibank.com/Personal-Banking/loans/home-loan/service-
charges.html
○ PERSONAL LOAN: ICICI Bank Personal Loans are easy to get

and absolutely hassle free. With minimum documentation you
can now secure a loan for an amount upto Rs. 10 lakhs.
 Key Benefits of ICICI Bank Personal Loan

 Loan up to Rs. 10 lakhs
 No security/guarantor required
 Faster processing.
 Minimum documentation
 Attractive rates of interest
 Flexible repayment option of 12-48 months
 ICICI Bank may, at its sole discretion, utilize the services
of external service provider/s or agent/s and on such
terms as required or necessary, in relation to its
products.

There is some emergency and you need ready funds immediately
ICICI bank provides you personal loan for all your financial needs. Bank
offers loan at attractive interest rate with 12-60 months repayment
options, faster processing. There is special offer for existing bank
customers. [14]
Highlights
Salaried Self Employed

Loan Scheme Personal Loan Personal Loan
Loan Amount Min. - Rs 50000 Min. - Rs 50000
Max. - Rs 1000000 Max. - Rs 1000000
Interest Rate Min. - 14 % Min. - 14 %
Max. - 18 % Max. - 18 %
Time to Process Loan 3 days 2 days
14 - http://www.rupeetimes.com/compare/personal_loan/icici_bank.html
Description of Charges Personal Loans
Loan Processing Charges / Origination Upto 2% of loan amount plus Service

Charges Tax
The lower of the two amounts given

below:
Prepayment Charges 1) 5% of principal outstanding or
2) Interest outstanding for the
unexpired period of the loan.

Charges for late payment 2% per month
Cheque Swap Charges Rs. 500/- per transaction
Cheque return charges^ Rs. 400/- per return
Rs. 200/- per schedule (inclusive of

Amortization schedule charges
service tax)
Rs. 200/- per statement (inclusive of

Statement of Account Charges
service tax)
Prepayment/Foreclosure Rs. 100/- per statement (inclusive of

Statement Charges service tax)
Rs. 500/- per NOC (inclusive of service

Duplicate No Objection tax)
Certificate/ No Due Certificate Rs 200/- per NOC (inclusive of service
tax)
Duplicate
Rs. 200/- per schedule (inclusive of
Repayment/Foreclosure
service tax)
statement
○ COMMERCIAL VEHICLE LOANS: [15]
• ICICI Bank offers commercial vehicle loan for their customers at

attractive rates of interest very quickly with simple documentation
in an easy and hassle free process. One can avail commercial
vehicle loan from the ICICI Bank for the purchase of both new and
used vehicles.

• Loan Amount: Loan amount can vary from a few thousands to crores
depending upon the specific requirement. Funding can be upto the
extent of 100 % of the chassis; body funding can be extended on
special requirement & on the past experience.
• Benefits:
 Range of products under one umbrella.

 Funding for trucks, buses, tippers, light commercial
vehicles and small commercial vehicles.
 Products including funding for new vehicles, finance on
used vehicles and top up on existing loans.
 Preferred financier status with all leading
manufacturers.
 Simple documentation processes.
 Quick turnaround time.
• Repayment:
 The tenure of the loan may vary from 12 to 60 months,
depending upon the nature of the deal and the
repayment capacity.
 Repayment can be made through post-dated cheques

(PDCs) / ECS or through Auto-Debit (in the case of ICICI
Bank account holders).
 Prepayment of the loan is allowed, at a charge indicated
on the ‘Service Charges’ page.
15 - http://loansbuzz.com/icici-bank-commercial-vehicle-loan/
○ CAR LOANS:
 The most preferred financier for car loans in the
country.

 Network of more than 604 channel partners in over 200
locations.
 Tie-ups with all leading automobile manufacturers to
ensure the best deals.
 Flexible schemes & quick processing.
 Hassle-free application process on the click of a mouse.
○ LOAN AGAINST SECURITIES
 Demat Shares
 Mutual Funds Units
 Fixed Maturity Plans (FMP)
 Exchange Traded Funds (ETF)
 Insurance Policies
 Savings Bonds
 NSC/KVP (Demat form)
*Applicable Service Tax shall be levied in accordance with the Finance

(No.2) Act 2004.
Service Charges
Interest is charged only on the amount drawn and for the period for which
it is utilized. Interest is calculated on a daily basis and debited to your
current account on the last day of every month. The amount debited has
to be paid back by you into the current account to regularize it. Stamp
duty varies from state to state.
Eligibility [16]
• Demat Shares

○ Only Individuals can apply. [Hindu Undivided Families (HUFs),
Companies, Partnerships, Sole Proprietors are specifically
excluded.]
○ Loans are granted only against list of scripts approved by ICICI
bank.
• Mutual Funds Units
○ For Equity oriented funds – Only Individuals can apply. [Hindu
Undivided Families (HUFs), Companies, Partnerships, Sole
Proprietors are specifically excluded.]
○ For Debt Funds/FMP/ETF – Individuals, Hindu Undivided
Families (HUFs), Companies, Partnerships and Sole
Proprietors can apply.
○ Loans are granted only against the list of approved Mutual
Funds/ schemes, as determined by ICICI Bank.
• Life Insurance Policy

○ For all other insurance policies, Individuals, Companies,
Partnerships, Sole proprietorships, Hindu Undivided families
(HUFs) can apply.
○ For ULIP policies, only resident Individuals can apply.
○ Loans are granted only against the list of approved insurance
policies, as determined by ICICI Bank.
• NSC/KVP
○ Individuals, Hindu Undivided Families (HUFs), Companies
and Partnerships can apply.
• GOI Bonds

○ Individuals and Hindu Undivided Families (HUFs) can
apply.
For all of the above
 The applicant should be a subscriber to a telephone

(landline) either at residence or office.
 The applicant should be between 18 and 75 years of age.
16-http://loansmumbai.in/eligibility-for-icici-bank%E2%80%99s-loan-against-
securities.html
Loans Against
Description of Charges
Shares
Minimum Rs.
2000/- upto 1%
of the loan
amount on
account
Loan Processing charge / Renewal charge
opening, and Rs.
1500/- p.a. on
renewal at the
end of each
year.
Pre-payment charge Nil
Solvency certificate N.A.
Further Interest on Overdrawn amount 2% per annum

Charge for changing from fixed rate of interest to
N.A.
floating rate of interest
Charges for changing from floating rate of interest to

N.A.
fixed rate of interest
Cheque Swap charge N.A.
Document Retrieval charge N.A.
Rs. 250 per

Cheque return charge
instance
Charges for Interim Valuation Report (IVR) Rs 50/- per IVR
○ LOAN AGAINST GOLD AND GOLD ORNAMENTS [ 17]
ICICI Bank offers loan against gold ornaments for all their customers
in India to provide liquidity against gold ornaments without having to sell
them. This loan is ideal to meet agriculture and allied agriculture
requirements like cultivation, dairy, poultry, fishery, etc.
• Loan Amount: One can avail a minimum loan amount of

Rs.5,000 and maximum loan amount of Rs.15,00,000 from the
ICICI Bank.
• Eligibility criteria:
○ The applicant should be between 18 and 70 years.
○ Gold ornaments should be of 18 carat purity and above.
○ Proceeds of loan should be used for agriculture and allied
agriculture purposes.

• Ineligible
○ Pawn brokers.
○ HUF, sole-proprietorship concerns, partnership firms,
corporate and co-operatives.
○ Bullion items like gold coins, bars and biscuits, etc.
• Benefits
○ Hassle-free quick processing of loans.
○ Simplified paperwork.
○ Easy payment options
○ Attractive interest rate & LTV.
○ Loan amount ranging from Rs. 10,000 to Rs.15, 00,000.
17 - http://loansbuzz.com/icici-bank-loan-against-gold-ornaments/
○ FLEXICASH
Personal Line of Credit for Salaried Customers - Service

Charges & Fees
• Interest is charged only on the amount drawn and the period

for which it is utilised.
• Interest is calculated on a daily basis, and is payable in each

month and will be included in the Amount Due.
• Interest rate may be decided by ICICI Bank from time to time

(the "Applicable Rate").

Description of Charges Personal Loans
Prepayment Charges Nil
Solvency Certificate N.A.
Charges for changing from fixed to floating

N.A.
rate of interest
Charges for changing from floating to fixed

N.A.
rate of interest
Renewal Fee Rs. 500/- to Rs. 1500/-
2% p.a. over and above

Further interest on overdrawn amount
Applicable Rate.
Late Payment Fee Rs. 500/-
Cheque Representation Charges Nil
Charges per Cheque return Rs. 250/-
http://www.icicibank.com/Personal-Banking/loans/loan-against-
securities/index.html
○ CONSTRUCTION EQUIPMENT LOANS
Financing Options [18]
New Equipment Finance – We finance any kind and brand of construction

equipment once the manufacturer meets our minimum evaluation criteria in
terms of quality of the product, ability to service and customer feedback
about the product.
First Time Users – We finance new entrants with minimum approval

procedures.
Hiring Segment – We finance Plant Hirers who buy and lend equipments to
contractors for projects.
Refinance – We finance instant liquidity to meet urgent business and

financial needs.
Repurchase Loan – We finance buyers of second hand equipment / used

equipment. They must meet the norms of ICICI Bank.
Genset – We extend loans against purchase of Gensets subject to the

transaction proposed meeting the policy norms of ICICI Bank.
Benefits:
○ Reaches you through more than 120 locations across the country
○ Range of products under one umbrella.
○ Funding for excavators, backhoe loaders, cranes, higher end
construction equipments etc.
○ Products include funding for new and used equipments. Top up
on existing loans also available.
○ Catering to wide variety of equipments required by mine owners,
road contractors and builders.
○ Simple documentation processes.
○ Quick turnaround time.
○ Flexible financing solutions to meet individual requirements
18- http://www.icicibank.com/pfsuser/loans/constructionequip/cefinancing.htm
○ LOAN AGAINST PROPERTY [19]
ICICI Bank Loans Against Property provide not just the most
competitive interest rates & best level of service, but also products
designed to cater to the specific needs of consumer. New products / new
features in existing products are introduced based on customer feedback.
Choose the ICICI Bank Loan against Property that suits your needs.

Loan against property gives the owner of residential or commercial
premises to leverage on the value of the property. It offers the ability to
unlock funds gives the advantage of looking at the asset as a source of
security bringing liquidity and retaining ownership. In case of Loan Against
Property the property should be self occupied by one of income
considered applicants. The security of the property ensures competitive
rate of interest . The interest component of the EMI paid by Self Employed
customers can be booked as expenses in their P & L.
Loans Against Property are provided for many personal

requirements of the customer viz.
➢ Marriage.
➢ Child Education.
➢ Business.
➢ Purchase of Property (Where mortgage is not
possible).
➢ Improvement of Property.
➢ Medical Treatment.
Loans Against Property can be availed by Resident Indian who are

Salaried or Self-Employed and also by Non- Resident Indian who are
Salaried.
19 - http://www.icicibank.com/Personal-Banking/loans/home-loan/loan-against
property/product.html
• AGRI AND RURAL BANKING
• Working Capital Loans

ICICI Bank's Rural, Microbanking and Agribusiness Group (RMAG) offer
Overdraft and Cash Credit facility to traders, processors, transporters,
aggregators etc. in the Agri-sector.
Products offering Working Capital Loans are:
• Smart Cash Credit (SCC).
• Agri Credit Line (ACL).
• Jet Overdraft.
➢ Smart Cash Credit (SCC):

SCC is a financial assistance to large agri and rural enterprises
for the working capital needs of the businesses with hypothecation
of stock & debtors and supported by property as collateral security.
Smart CC has a range of products like Cash Credit, Letter of Credit,
Bank Guarantee, Term Loans, Export Packing Credit (EPC) etc.
Features:
○ Limit: Minimum Rs. 25 lakhs, maximum Rs. 20 crores.

○ Product range: Cash Credit, Term Loan, Letter of Credit, Bank
Guarantee,Export Packing Credit (EPC) etc.
○ Tenure: Cash Credit for 12 months, Term Loan up to 5 years,
Letter of Credit/ Bank Guarantee for 12 months.
○ Security: Charge on current assets i.e. stocks and debtors supported
with commercial / residential property.
○ Repayment: For Cash credit, the interest on the outstanding loan
amount is payable monthly, term loan is repaid as per fixed EMIs.
○ Repayment Mode: Through regular transactions in the account.
○ Renewal of the account depends on maintenance of good track
record and submission of fresh financial documents.

➢ Agri Credit Line (ACL): Agri Credit Line is the financial assistance
to rural enterprises in the form of overdraft based on property &
income. The borrower can avail OD facility upto 5 crores and the
interest will be charged only on the utilised amount.
Features:
○ Limit: Minimum Rs. 10 lakhs, maximum Rs. 5 crores.

○ Tenure: The overdraft term is 12 months and is renewable.
○ Security: Self-owned residential /commercial/ industrial land
or property.
○ Repayment: For overdrafts, the interest on the outstanding
loan amount is payable monthly.
○ Through regular transactions in the account.
○ Renewal of the OD account depends on maintenance of good
track record and submission of fresh financial documents.
➢ Jet Overdraft
Faster and quicker overdraft facility for business needs based on income,
secured with property.
Features:
○ Limit - Minimum Rs. 10 lakhs to Maximum Rs. 65 lakhs.

○ Faster and quicker.
○ Security: Facility against Residential Property/ Commercial
Property/ Industrial property.
• NRI BANKING
➢ Loans Against Deposits
We provide liquidity in your investments by offering you a loan facility
against your deposits. Rupee loans are provided against the security of

your:
○ Rupee deposits - NRO and NRE
○ FCNR deposit
Features of Our Loan Against Deposits
○ Loans are provided to self as well as third party individuals
○ Loans are available upto 90% of the principal amount of the deposits
(maximum Rs. 100 lac)
○ Rupee loans are available at the branch where you maintain your account
○ Loan is disbursed either by way of a demand loan or an overdraft
○ For demand loan, the entire loan amount is disbursed at one go by either
credit to NRO savings account or issue of a pay order / demand draft
○ For an overdraft facility, a current account is opened and loan proceeds

are disbursed to the account. Cheque book is then issued to you for
withdrawals
○ Repayment of the loan shall be made either by adjustment of the deposit

or by fresh remittances from outside India through normal banking
channels
○ The loan can also be repaid out of the funds in the NRO account of the
borrower
○ In case of loans to third parties, the same can be repaid out of the local
rupee account of the borrower.

• CARDS
ICICI Bank offers a variety of cards to suit different

transactional needs. Its range includes Credit Cards, Debit Cards
and Prepaid cards. These cards offer you convenience for financial
transactions like cash withdrawal, shopping and travel. These cards
are widely accepted both in India and abroad. 
○ CREDIT CARD:
ICICI Bank Credit Cards give you the facility of cash,
convenience and a range of benefits, anywhere in the world.
These benefits range from life time free cards, Insurance
benefits, global emergency assistance service, discounts, utility
payments, travel discounts and much more.
○ DEBIT CARD:
The ICICI Bank Debit Card is a revolutionary form of cash that
allows customers to access their bank account around the clock,
around the world. The ICICI Bank Debit Card can be used for
shopping at more than 3.5 Lakh merchants in India and 24
million merchants worldwide.
○ TRAVEL CARD:
ICICI Bank Travel Card. The Hassle Free way to Travel the
world. Traveling with US Dollar, Euro, Pound Sterling or Swiss
Francs; Looking for security and convenience; take ICICI Bank
Travel Card. Issued in duplicate. Offers the Pin based security.
Has the convenience of usage of Credit or Debit card.

• MOBILE BANKING
Bank on the move with ICICI Bank Mobile Banking. With ICICI
Bank, Banking is no longer what it used to be. ICICI Bank offers
Mobile Banking facility to all its Bank, Credit Card, Demat and Loan
customers.
ICICI Bank Mobile Banking can be divided into two broad categories
of facilities:
○ Alert facility:
ICICI Bank Mobile Banking Alerts facility keeps you informed
about the significant transactions in its Accounts. It keeps you
updated wherever you go.
○ Request facility:
ICICI Bank Mobile Banking Requests facility enables you to
query for its account balance.
• INVESTMENT PRODUCTS:
Along with Deposit products and Loan offerings, ICICI Bank
assists you to manage its finances by providing various investment
options ranging from ICICI Bank Tax Saving Bonds to Equity
Investments through Initial Public Offers and Investment in Pure
Gold. ICICI Bank facilitates following investment products:
• ICICI Bank Tax Saving Bonds
• Government of India Bonds
• Investment in Mutual Funds
• Initial Public Offers by Corporate
• Investment in "Pure Gold"

• Foreign Exchange Services
• Senior Citizens Savings Scheme, 2004
• TRADE-SERVICES:
ICICI Bank offers online remittances as well as online
processing of letters of credit and bank guarantees.
• ASSET-MANAGEMENT:
Prudential ICICI Asset Management Company offers a wide
range of retail mutual fund products tailored to suit varied risk and
maturity profiles.
• CASH MANAGEMENT:
ICICI Bank offers a complete range of highly customized
solutions for managing both the collections and payments
requirements of clients by leveraging technology. Daily customized
transactions reports and real time web-enabled downloads, provide
on-tap information facilitating effective working capital
management.
• CORPORATE BANKING:
ICICI Bank offers comprehensive and customized financial
solutions for its corporate clients, including rupee and foreign
currency debts, working capital credit, structured financing
syndication and transaction banking products and services.
• INTERNET BANKING:

Internet banking is available to all ICICI bank savings and
deposit account holders, credit card, Demat and loan customers.
Internet banking service offers customers a world of convenience
with services such as balance enquiry, transaction history, account
statement, bill payments, and fund transfers and accounts related
service requests.
• ATMs:
With more than 6000 ATMs across the country, ICICI Bank has
one of the largest ATM networks in India
• PHONE BANKING:
Phone banking offers 24*7 service across liability, asset and
investment products to both retail and corporate customers.
• NRI-BANKING:
A gamut of services to take care of all NRI banking needs
including deposits, money transfers and private banking.
• MONEY2INDIA:
A complete range of online and offline money transfer
solutions to send money to India.
• PROPERTY:
For millions of home buyers across the country, ICICI Bank
offers not just great deals on home loans but also a wealth of expert

advice. ICICI Bank offers home search service which can help a
customer identify theproperty of his choice based on his budget and
other requirements.
• DEMAT ACCOUNTS:
ICICI Bank’s Demat services after unique features like e-
constructions, consolidation, digitally signed statements, mobile
requests and corporate benefit tracking.
• RURAL-BANKING:
Bank offers technology-based solutions, financial innovations
and multiple delivery channels to meet the financial needs of rural
areas.
ICICI Bank
ICICI Bank offers car loans up to 90% of the ex-showroom price of the car.
Loan tenure can be extended up to 6 years which makes it easier to
repay. ICICI Bank is the top financier for car loans in India. The bank has a
network of more than 1800 channel partners in more than 1000 locations.
[20]
• Loan Amount
The loan amount depends on the car model. Minimum loan amount for a
new car loan is Rs.1 lakh. For a used car the bank arranges finance for a
maximum of 85% of the valuation of the car. Minimum loan amount

sanctioned for a used car loan is Rs. 75000. For used cars the maximum
tenure can be five years.
• Interest Rates & Documents Required
Car Loans are available with Fixed and Floating Interest Rates. The
amount of loan sanctioned depends on the strength of income related
documents. On absence of income proof, loan could be sanctioned on
producing the bank statement, loan repayment track record, etc. Income
Proof has to be submitted for last two years. Prepayment of loan is
allowed. However, one is not permitted to prepay in parts. ITR, Form 16,
and Salary Slip can be submitted as the proof of income. One also has to
submit proof of bank account continuity. Apart from these, address proof
and identity proof are also admitted.
20 - http://www.icicibank.com/Personal-Banking/loans/car-loan/
[21]
• Possession of Documents
Customers can retain the original Registration Certificate, Invoice and the
Insurance Policy. The bank just requires a photocopy of these documents
within 30 days of getting the loan disbursement.
Particul Salaried Self-Employed Partnership Private /

ars Individual Individual Firm Public Ltd
Co
Age The applicant Any Proprietor, - Limited

Criteria should be at partner, companies

least 21 years professional or should have
old at the time of director above been in
application, and 21 years of age existence
below 58 years but below 65 at for at least 2
of age at time of the time of the years
maturity of the loan's maturity
loan
Income Gross annual Gross annual Firm should Minimum

Criteria salary above Rs income above have a PAT (profit
1 lakh p.a Rs 60,000 minimum PAT after tax) of
(profit after Rs 60,000
tax) income
of Rs 60,000
21 - http://www.carwale.com/finance/banks/ICICI.aspx
• New Car Loan

The bank finances upto 90% of the ex-showroom cost of the
car. The loan amount also depends on the car model. Minimum loan
amount for new car loan is Rs.1 lakh.
• Used Car Loan

 For a used car the bank finances up to a maximum of 85% of
the valuation of the car. Minimum loan amount for a used car
loan is Rs. 75000.
 The tenure of the loan ranges from one to seven years for new
cars and from one to five years for used cars.
• Loan Enhancement
 To enhance your loan amount, the certified income of the
co-applicant can be considered, if requested by the
applicant.
 The co-applicant can be the spouse or son/daughter living
in the same city.
 Similarly, in case of a partnership firm or a limited
company one of the partners or a director can be taken a
co-applicant / guarantor for increasing the loan amount.
 However, in both cases, the asset has to be registered in
the name of a single owner, not joint ownership.
• Rates & Fees
○ Car Loans:
 We offer most competitive interest rates in the industry.
 Interest rates depend on Car model, Loan Tenure,
Customer & Location.
 Interest is calculated on a monthly reducing balance.
○ Processing Fee:
 For loan amounts up to Rs. 0.25 million = Rs. 2500;

 For loan amount between Rs. 0.25 Mn to 0.50 Mn = Rs.
3100;

 For loan amount between Rs. 0.50 Mn to Rs. 1.00 Mn =
Rs. 4000,
 For loan amount more than Rs. 1.00 Mn = Rs. 5,000
[22]
• Documentation Required
Salaried Individual Self-Employed Partnership Private /

Individual Firm Public Ltd
Co
KYC Documents KYC Documents Application Application

Form Form
Application form Application form Application Application

form form
Photograph Photograph Photograph of Guarantor's

signing partner photograph
(for private
limited
company
only)
Proof of bank account One proof of Last two years' Last two
continuity income (ITR for the income proof years audited
last two years) (audited financials
account or
ITRs + CA
certified
financials)
One income proof for One proof of Partnership Certified true

the last two years (ITR, residence (driving deed copy of the

Form 16, salary slip) license / voters' MOA & AOA
identity card /
ration card /
passport / utility
bills for the last 3
months)
One proof of identity One proof of Partners Board

(driving license / residence (driving authority letter resolution
voters' identity card / license / voters' (format
passport / PAN card / identity card / available on
photo credit card / ration card / request)
photo ration card) passport / utility
months)
One proof of residence One proof of office

(laminated driving address (utility bill /
license / voters' lease deed / excise
identity card / photo or sales tax
ration card / receipt / Shops and
passport /utility bills for Establishment Act
the last 3 months / Registration)
company ID - limited
company or
government / PAN
card)
 The # 1 financier for car loans in the country.
 Network of more than 1800 channel partners in over 1000 locations.

 Tie-ups with all leading automobile manufacturers to ensure the best
deals.
 Flexible schemes & quick processing.
 Hassle-free application process
22- http://www.carwale.com/finance/banks/ICICI.aspx
CAR LOANS
Features [23]
Particular Salaried Self-Employed Partnership Private /

s Individual Individual Firm Public Ltd Co
The applicant
Any Proprietor,
should be atleast Limited
partner,
25 years old at companies
professional or
time of should have
Age director above
application, and - been in
Criteria 28 years of age
below 58 years existence for
but below 65 at
of age at time of at least 2
the time of the
maturity of the years
loan's maturity
loan.
Income Gross annual Gross annual Firm should Minimum

Criteria salary is Rs 2 income is Rs 2 have a PAT (profit
lakh p.a (Gross lakh p.a minimum PAT after tax) of

Income)
minimum and
(profit after
this varies with
minimum tax) income Rs 60,000
respect to the
of Rs 60,000
state of
application.
CAR LOANS DOCUMENTS
• Application Process[24]
 You may contact the nearest ICICI Bank branch for the best
deal available on the car of your choice.
 You may also contact us by:
➢ Log in to ICICI Bank website and apply through loans

section
➢ Send SMS with message "CARLOAN" to 5676766
➢ Email us at customer.care@icicibank.com
➢ Click here to reach our call center nearest to you or

call their Toll Free number 1600-22-9191.

 The loan will be disbursed within one day of submitting all the
required post-sanction documents.
 If the vehicle is readily available with the dealer, you can get your car
as soon as the disbursal is made to the dealer. However ICICI Bank is
in no way responsible for car deliveries as they are regulated by the
car manufacturer's delivery schedules.
 You can retain the original Registration Certificate, Invoice and the
Insurance Policy. We simply require a photocopy of these documents.
 If you wish to cancel your loan application any time before the loan is
disbursed, you may do so by informing the representative who has
collected your documents or send us a written request.
• How to Repay
 Repayment tenure ranges from 1 year to 7 years for New Car Loans.
Six Year and Seven year loans are available for specific models.
 Maximum loan tenure for used car would depend on the age of the
car. The car should not be more than 8 years old at the time of
maturity of the loan.
 You may change the tenure of the loan before the loan is disbursed.
The interest rate & EMI would change accordingly.
The repayment due dates are 1st and 7th of every month and would
depend on the date of disbursement. Payment due dates cannot be
changed.
 You can make the Payments through post-dated cheques (PDCs)

 Repayment option through Direct Debit Mandates is also available for
all ICICI Bank account holders.
Option of repaying through ECS is also available in select cities.
 Payments through cash or credit cards are not accepted.
 You may change the PDC's in case your Bank Account is changed.
However, we would require verification of signatures by new banker. A
nominal fee of Rs.750/- (Swap Charges) would be charged for
exchange of cheques.
 A full pre-payment of the loan is accepted. Part pre-payment is not

allowed.
 Service Tax will be charged as applicable.
 We charge pre-payment fee of 5% on the outstanding principal

amount,Service Tax will be charged as applicable.
 We charge Rs.250/-per bounced cheque.
Car Loan Details

• Lending Rates - The lending rates vary on the basis of discounts,
which are offered by manufacturers and dealers. ICICI Bank has a
tie-up with most of the manufacturers and authorised dealers and
our sales team will help you negotiate the best deal on your car
loan.
• Approach to ICICI bank for a Auto Loan - You can approach us in any
of the following ways
 Apply online
 Write to us at customer.care@icicibank.com
 Call us at our 24 hour Customer Care Centre
 You can just walk into any of our branches.

 Contact any of our direct sales agents.
• Prepay loan – Bank charge prepayment fee of 5% on the
outstanding principal amount, Service Tax will be charged as
applicable.
• Monthly Reducing Balance Approach - In the case of monthly
reducing balance method, the principal gets reduced at the end of
every month and the interest is calculated on the outstanding
principal at the end of the month.
• Annual Reducing Balance Approach - In the case of annual reducing
balance method, the principal gets reduced at the end of the year
and the interest is calculated on the outstanding principal at the end
of the year.
CAR OVERDRAFT
• The CAR OVERDRAFT product converts your Car into CASH by
following things:
 An Overdraft facility - An Overdraft limit / Cash upto 90% of the

assessed value of your vehicle.

 Interest Charged only on utilization - Interest is charged only on
the amount utilized and the time period utilized for. In case of
non- utilization of the funds no interest will be charged.
 Flexible Repayment - No fixed Equated Monthly Installments,

every month pay only minimum 5% of the total utilization of the
overdraft facility.
 An HPCL Debit Card: which allows you to transact at any VISA

Merchant outlets that have electronic swipe machines? You can
also use this card to withdraw cash from any ICICI Bank ATM.
 A Roaming Current account - with the facilities of Any Where

Banking & NIL Minimum Balance requirement.
 Multicity Cheque Book - We value your time and money. Your

cheques will be treated as local cheques at over 100 centers
across India.
 Internet Banking: effect fund transfers, accesses your

statements, pay your bills etc...From the place of your
convenience.
 Phone Banking : carry out basic banking operations over the

telephone
[25]
 National Accesses - access to 450 branches and 1750 ATMs.
• Car Overdraft Loan amount

A maximum overdraft facility of upto 90% of the value of the car may be
availed subject to the above limits (Car value is determined through a
valuation )
• Car Overdraft rates
 Interest is charged only on the amount drawn and for the period
that it is utilized. The rate of interest would depend on the
scheme selected by the customer.
 Processing fees as applicable will be directly payable to ICICI

Bank Ltd at the time of submitting the application
 The interest is debited to your current a/c on the last day of

every month.
 A valuation fees will have to be paid directly to the valuation

agency identified by ICICI Bank Ltd.
• Car Overdraft
 You may contact our Toll Free number 1600-22-9191 for all
sales / product related queries.
 Apply Online on their website.
 Reach our call center nearest to you.
 SMS "car loan<city>" to 676766, for e.g. Sms "carloan Mumbai"

if you stay in Mumbai.

• Car Overdraft
Self-Employed Partnership Private Ltd.
Salaried Individual
Individual Firm Co.
Application Application
Application form Application form
form form
Guarantor's
photograph
Photograph of (for private
Photograph Photograph
signing partner limited
company
only)
Last two years'

income proof
One proof of (audited Last two
Proof of bank account
income (ITR for the account or years audited
continuity
last two years ) ITRs + CA financials
certified
financials)
One proof of
residence (driving
license / voters'
One income proof for Certified true
identity card / Partnership
the last two years (ITR, copy of the
ration card / deed
Form 16, salary slip) MOA & AOA
passport / utility
months)

One proof of
One proof of identity residence (driving
Board
(driving license / license / voters'
resolution
voters' identity card / identity card / Partners
(format
passport / PAN card / ration card / authority letter
available on
photo credit card / passport / utility
request)
photo ration card) bills for the last 3
months)
One proof of residence

(laminated driving
license / voters' One proof of office
identity card / photo address (utility bill /
ration card / lease deed / excise
passport /utility bills for or sales tax
the last 3 months / receipt / Shops and
company ID - limited Establishment Act
company or Registration)
government / PAN
card)
• Details:
 Cash Advance:
This product provides the customer Car overdraft through

ICICI Bank and ICICI Bank ATMs across the country. The entire
credit limit can be withdrawn as a Cash advance. Cash can also be
withdrawn through the Bank's branches across the country.
 Multicity Banking:

Customer will be issued Multicity chequebooks on request at
no additional cost.
 Repayment:
Customer will have the flexibility of paying the entire

outstanding lump sum or repaying the minimum outstanding of
5% as billed each month, till the end of the tenor of the OD facility.
 Cheque Drop Box Facility:
Cheque Drop Boxes are placed at convenient locations;

customers can use these Drop Boxes to drop their repayment
cheques.
 Interest:
Interest to be paid by the customer on debit outstanding: The

interest to be paid by the customer is calculated only on
outstanding debit balance in the Car overdraft account on a daily
basis and charged to the customer on a monthly basis. A minimum
payment of 5% per month is due from the customer.
 Loan to Value ratio against the cars for setting up the limit-
The customer can get a limit of upto 60 to 80% of valuation of car
depending on the car model and his income.
 Tenure - The Car OD facility is given for a period of one year and can
be renewed for one more year. The renewal is at the sole discretion of
the Bank.

 Minimum payment due each month - Minimum payment due - 5% of
the debit balance, each month. All cheques to be drawn favoring:
"ICICI Bank A/C -Car OD A/C NO (customer account number)"
 Payment cycle - Payment cycle will be 5th of every month and

customer has to make the payment (either total amount due /
minimum amount ) in his account by 25th of each month.
 Advantages - Car Overdraft provides the following advantages:
➢ Flexibility / Convenience
➢ Withdrawals permitted through Multicity cheque book /
HPCL DEBIT card as and when the customer wishes
➢ Customer can plan his finances and choose to repay,
provided the minimum dues are paid each month
➢ No customer financial contribution (i.e. down payment)
required for account set up
➢ HPCL debit card issuance is a value add for the
customer
➢ Limit set up against a movable asset - "unlock the cash
potential of a used car" (in case of car cash in).
➢ Interest charged only for the period the funds are
utilized.
 Application process - Through an account opening form and

completion of other formalities like valuation of car etc.

 Valuation of the Car - Valuation of the car is done at the request
of the customer. In case the customer is to buy a new car with
the limit facility, the invoice price of the new car serves as the
surrogate for the car valuation.
 Restrictions on usage of the Car OD limits -

The customer can use the funds for any personal or business
expenses.
 The Car OD outstanding become payable -

The customer can choose to withdraw the funds and repay them
immediately. There is no restriction on when the total
outstanding should be repaid. However, a minimum of 5% of the
outstanding becomes payable each month on the due date
stated in the statement of account.
 What happens to the Car OD credit limit on withdrawal of funds?

Cheque and or cash withdrawal will reduce the credit limit on the
Car overdraft account to the extent of the funds withdrawn. The
credit limit will increase to the extent of the payments (after
clearance of the funds) made into the Car overdraft account.
 What happens if accountholder skips a Minimum Amount Due

payment?
The Minimum Amount Due is payable each month. In case the
accountholder skips a payment, an additional charge of Rs 500/-
or 10% of the Minimum amount due, whichever is higher, will be
levied as late payment fee

 Foreclosure penalty under Car OD -
No, there is no foreclosure penalty. The customer is free to close
the Car OD account whenever he wants to, by requesting the
Bank to do so in writing, and along with the same surrendering
the unutilized cheque book and Debit Card and making payment
of the entire outstanding.
 Can the accountholder exhaust his / her entire credit limit in one
shot?
Yes, the accountholder can utilize the entire credit limit. However
he / she will not have any available credit limit to withdraw in
emergency situations, until outstanding are repaid.
 Can the accountholder withdraw cash on Car OD?

Yes, the accountholder can withdraw cash on the Car overdraft
account. There is no restriction on the cash to be withdrawn
(subject to ATM withdrawal guidelines , Rs. 25,000 max.
withdrawal a single day )
 On approval -
A sanction letter indicating the limit assigned, account number,
brief details etc will be sent by the Bank to the accountholder at
the mailing address. Simultaneously, the following will also be
dispatched separately
➢ HPCL Debit card &Personalized Multi city Cheque Book
➢ ICICI Bank ATMs list

➢ Schedule of Charges
➢ Phone banking Numbers
CAR FINANCE
ICICI offers car finance for new as well as old cars.

[26]
• Loan Amount
○ The car loans are offered to individuals as well as companies.
○ The loans cover up to 90% of value of the car
○ One can avail upto 90% of value of the car one wants to
purchase through the loan
• Tenor
○ Options are available where you can pay back the loan by way of
monthly installments spread over a period ranging from 1 year to
5 years.
○ The repayment due dates for every monthly installment are the
1st or the 7th of every month and payment would be collected
through post dated cheques.
• Eligibility
○ Salaried Individual :
Gross Annual Income should be above Rs. 1,00,000
○ Self-employed :
Individual If you are a proprietor, a partner, a professional, or a
director, with a Gross Annual Income o f above Rs.60,000, you
are eligible to apply for an ICICI Car Loan.
○ Partnership Firm
The firm should have a minimum PAT (Profit After Tax) of Rs.
60,000 for a standard car or minimum PAT of Rs 1, 00,000 for a
premium car.

○ Private or Public Limited Company
➢ Private Limited Companies should have been in

existence for at least 2 years and have a minimum
PAT of Rs. 60,000 for a standard car or a minimum
PAT of Rs. 1, 00,000 for a premium car.
➢ Public Limited Companies should have been in

existence for at least 2 years and have a minimum
PAT of Rs. 1,00,000 for a standard or a premium car.
• Documentation
○ Application Form
○ Photograph
○ Bank signature verification
○ Income Proof (Any one of the following)
➢ ITR ( Income tax returns )
➢ Form 16
➢ Salary Slip
○ Identity Proof (Any one of the following )
➢ Laminated Driving License
➢ Voters' Identity Card
➢ Passport
➢ PAN Card
➢ Photo Credit Card
➢ Photo Ration Card
○ Proof of Residence (Any one of the following)

➢ Voters' Identity Card
➢ Photo Ration Card
[27]
RATES
Highlights
New Car Used Car
Loan Type Term Loan
Ex-Showroom/On Road Ex-Showroom
Loan Amount Loan is available for a

minimum of Rs 1 lakh.
The bank covers 90% of
the ex showroom price of
the car.
Tenure Min. - 12 months.

Max. - 60 months.
Interest Rate 13 %
Time to Process Loan 7 days
Preferred Manufacturers Chevrolet, FIAT, Ford,

GENERAL MOTORS INDIA,
HINDUSTAN MOTORS,
Honda, Hyundai,
Mahindra, Maruti,
Mercedes-Benz,
Mitsubishi, Nissan, Reva,
SAN Engineering, Skoda,

Tata Motors, Toyota
27 - http://www.rupeetimes.com/compare/car_loans/icici_bank.html
Processing Fees
Slab Processing Fee Origination Charges
Rs 250000 - Rs 499999 Rs 1950 0.100000001490116 %
Rs 500000 - Rs 1000000 5% 0.100000001490116 %
Fees & charges
New Car Used Car
Cheque Bouncing Charges 450 Rs
Stamp Duty As Per Actuals
Late Payment Penalty 2%
Pre-Payment Charges 5%
Cheque Swapping Charges 500 Rs
Statement Charges 500 Rs/Statement

Duplicate Repayment 500 Rs
Schedule Charges
Legal, Repossession and As Per Actuals

Incidental Charges
Duplicate No Due 500 Rs

Certificate / NOC Charges
Eligibility Criteria
Salaried:
Income Rs 8000
Current 1 Yrs.
Employment
Years
Total 2 Yrs.
Employment
Years
Documents Required:
ID Proof Yes
Residence Proof Yes
Income Proof Yes

Telephone Yes
Photograph Yes
Bank Statement Yes
Signature Proof Yes
Post Sanction Loan Agreement duly signed along with RTO set
Post Dated Cheques (PDCs) / ECS form / Standing
Instruction (SI) request Margin money receipt.
Waivers Salary A/C Scheme: All customers having their

Salary A/c with UTI Bank since the past 3 months
and above will qualify under this scheme~30
times Average Net Salary Credited during last 3
months~Special Benefits~100% Waiver of
Processing Fees~Waiver of Salary Slips & Bank
Statements~All other documentation and terms of
the loan will remain the same.~All of the above is
subject to terms and conditions.
Self Employed:
Income Rs 15555
Current Employment 1 Yrs.

Years
Documents Required:

ID Proof Yes
Residence Proof Yes
Income Proof Yes
Telephone No
Photograph Yes
Bank Statement Yes
Signature Proof No
Post Sanction Loan Agreement duly signed along with RTO

set Post Dated Cheques (PDCs) / ECS form /
Standing Instruction (SI) request Margin money
receipt.
Waivers Salary A/C Scheme: All customers having their

Salary A/c with UTI Bank since the past 3
months and above will qualify under this
scheme~30 times Average Net Salary Credited
during last 3 months~Special Benefits~100%
Waiver of Processing Fees~Waiver of Salary
Slips & Bank Statements~All other
documentation and terms of the loan will
remain the same.~All of the above is subject to
terms and conditions

EMI Calculation
ICICI Bank Commercial Vehicle Loan, strive to assist in every possible way
at every step. They have provided a useful tool below that will help us in
deciding our Commercial Vehicle Loan. [28]
• Fixed Interest Rate Loan EMI Calculator
Under the Fixed Interest Rate option for Commercial Vehicle Loan, the
interest rate for your loan will remain constant throughout the tenure of
the loan. The contracted installment amount and interest rate will be
applicable for the full tenure of the loan.
EMI Calculator
Note: Please calculate EMI by entering Loan amount, Tenor and Interest
rate.
Loan Amount
Rs.
Tenor
Months
Interest Rate
%
EMI
Rs.

28 - http://www.icicibank.com/Personal-Banking/loans/car-loan/emi-
calculator.html
Note:
• The interest on the loan amount is calculated on monthly reducing basis

in the calculator.
• ICICI Bank, India’s largest private lender, has raised their deposit
rates by 50 basis points or 0.5% to 8.25% across different maturities.
The peak term deposit rate will be 9.25% for 590, 770 & 990 day
tenures. For present clients, it has increased the benchmark prime
lending rate by a similar percentage.
The high deposit rates would give better returns to savers. This
raise would increase the EMIs for home & auto loan. Apart from
personal loans, corporate loans will also become costly. The official
of ICICI Bank said that this increase in lending rates will not affect
the current fixed rate clients and their rates will remain same.

Crisil downgrades ICICI car loan portfolio
Defaults in a car loan portfolio of ICICI Bank have led to a
downgrade of securities issued against those loans. Crisil downgraded the
securitized pool of new car receivable originated by ICICI Bank from A (SO)
to BBB+ (SO). One of the instruments of the assignment transaction has
been downgraded. SO stands for structured obligation. [29]
“Crisil has downgraded its credit opinion on acquirer’s payouts,” a

statement from the rating company said. “The downgrade reflects weak
collection performance of the pool. This in turn has resulted in credit
collateral utilisation which was higher than Crisil’s expectation. A higher
utilisation of collateral has reduced protection available for future
acquirer’s payouts.”
ICICI Bank said that these were loans originated four years ago and the
sum involved in it tiny to its size.
“The instance of downgrade pertains to assignment of receivables backed

by auto loans originated by ICICI Bank,” an ICICI Bank spokesman said.
“The transaction was done in 2007 and the current outstanding in the
pool is only Rs 54 crore. The pool continues to be rated investment grade
(BBB+ SO).”
The rating was for a Rs 300 crore transaction then which has now fallen,
Crisis said.

29 - http://economictimes.indiatimes.com/features/sunday-et/dateline-
india/crisil-downgrades-icici-car-loan-portfolio/articleshow/7388126.cms
ICICI Two Wheeler Loan
ICICI Two Wheeler Loan is easy to avail and it is one of the best
available ways to finance a two wheeler vehicle. ICICI is one of the leading
providers of vehicle loans in India. The bank has helped a large number of
low and moderate income customers in getting their dream vehicle. If you
are thinking to buy a motorcycle or a scooter but don't have the instant
cash then a two wheeler loan with attractive interest rate from ICICI Bank
can surely help you. At ICICI Bank Loan@click, you can make the fastest
loan application through its online banking services. [30]
Two wheeler loans offered by ICICI Bank come with a range of

benefits. You can get this loan amount to buy a motorcycle, moped or
scooter of Bajaj, Hero Honda, Royal Enfield, Yamaha, Suzuki and Kinetic
Honda. The bank will allow you to obtain up to 95% of the ex-showroom
price of the two wheeler vehicle. On the other hand, ICICI Bank Two
Wheeler Loan interest rates are considered as some of the best available
rates in the Indian loan industry. As a borrower, you will be able to get
attractive loan rate that will enable you to save a great deal. Depending
on the amount of loan, the vehicle model and your income status, the
loan rate may vary.
ICICI Bank offers flexible payback tenures for its two wheeler loans
ranging from 6 to 36 months. You can easily find the loan application form
from any of the bank branches located nearest to you. However, ICICI two

wheeler loan is made available through selected branches of the bank. In
addition, it is advisable for you to use the two wheeler loan calculator to
calculate the equated monthly installments (EMI) that you will have to pay
on your loan term. Just provide inputs like loan amount, loan tenure and
interest rate to calculate the monthly EMI. Having some idea about the
monthly repayment amount will help you to find more suitable loan term.
The following is a description of charges and fees associated with the two
wheeler loan of ICICI Bank;
Amortisation Schedule
Rs. 200/- per Schedule
Charges
2% per month on outstanding

Late payment Charges
installment
Cheque return charges Rs. 200/- per Cheque return
Cheque Swap Charges Rs. 500/- per transaction
Duplicate NOC Charges Rs. 200/- per NOC
Prepayment Statement
Rs. 100/- per Statement
Charges
Prepayment Charges 4% of principal outstanding
Revalidation of NOC
Rs. 200/- per NOC
charges
Statement of Account
Rs. 200/- per Statement
Charges
Processing Fee 0.25%*
Note :

1) Service Tax and other Government tax, levies, etc applicable as per the
prevailing rate may be charged over and above these charges at the
discretion of ICICI Bank.
2) The charges or fees given in above table are subject to change and the
one recorded in agreement will be binding over the site.
* Currently two wheeler loans are offered on Harley Davidson models

only.
30- http://www.onlinebanksguide.com/icici-bank/two-wheeler-loan.html
PART C
METHODOLOGY

SAMPLING STRATEGY
1. Target Population
The Population consists of all customers desirous of financing their car
purchase through loans provided by ICICI bank.
2. Sample frame
The Sample frame consists of all customers visiting ICICI bank.

3. Sampling Method
Probability sampling is used as the sampling frame is available,
population is homogeneous and population details are available.
4. Sampling Procedure
Simple random sampling
The population has different categories like people belonging to different
age groups, different income levels each have different perceptions of a
loan product depending upon their need. So we are using simple random
sampling.
5. Description of the Sample

The sample size of 130 collected by interviewing customers in various
part of Mumbai.
Determine Sample Size
The sample size is given by the formula,
n = (Z2*p*q)
E2

where,
p denotes probability of success = 0.3
q denotes probability of failure = 0.7
Z denotes standard normal variation = 1.96 (As confidence interval is

95%)
E denotes standard error = 8%
n denotes sample size = 126.05
Therefore we select a sample size of 130 respondents.
Data Analysis

Q1. What would be the price range of the Car you intend to purchase? (Rs.
In lakhs)
Table 1: Overview of the Sample Size
10-15 5-10
Price Range 1-5 lakhs lakhs lakhs
Survey Size 72 18 40
Source: Questionnaire
Chart 1: Survey Size
Interpretation
The sample size indicates a larger proportion (55%) of customers visiting

auto dealerships around Mumbai had a preference for cars within the
price range of Rs. 1-5 lakhs (Small Car segment).
The Mid Car Segment (14%) was preferred by customers at a price range
of Rs. 5-10 lakhs.
A small percentage of the sample size (31%) preferred the luxury car
segment for cars price above Rs. 10 lakhs.
Small Car Segment
The Small Car segment consists of cars within the price range of Rs. 1-5
lakhs. The total number of respondents in this segment was 72.
Q 3a.What type of Rate of Interest (ROI) facility do you prefer on your auto
loan deal?
Table 3a: Rate of Interest
Age 18-30 31-40 41-50 51 & above

Floating 9 4 3 1
Fixed 25 16 10 4
Chart 3a: Rate of Interest
Interpretation:
The data clearly shows a preference for fixed rate of interest across all
age group categories (76%). The preference for a floating rate of interest
forms a small but substantial proportion (26%) among the age group of
18-30 years only. Among the older category of customers, this preference
is negligible.
This data indicates that the risk appetite of customers in the current
economic situation is low across all age group categories.
Q 4a.What is the % of Loan to value (LTV) deal you expect for your auto
loan?
Table 4a: Loan to Value
Loan To Value < 50% 50%- 70%- 80%- 90%-

70% 80% 90% 100%
No. of 2 10 25 30 5
Respondents
Chart 4a: Loan to Value

Interpretation:
A majority of respondents (41%) preferred a Loan to Value Deal in the

range of 80-90% while preferences across other categories were minimal.
Q 5a.What is the Loan Tenor you expect? (No. of Years)?
Table 5a: Loan Tenor
Loan Tenor (No. of 1 yr 2 yrs 3 yrs 4 yrs 5 or

Years) more yrs
No. of 2 2 18 10 40
Respondents
Chart 5a: Loan Tenor

Interpretation:
55% of customer preferred a loan tenor of 5 years while only 1% of the

respondents in the small car segment preferred a loan tenor of more than
5 years. 25 % of customers had a preference for 3 years.
The data indicates that customers do not wish to prolong their loan tenor
beyond a reasonable period of time and generally prefer 5 years as a safe
and affordable period for a loan tenor.
Q 6a. Are you willing to utilize flexible EMI repayment facilities if offered?
Table 6a: Repayment Facilities
Flexible Yes No
EMI
Repaym
ent
18 - 30 24 15
31 - 40 13 6
41 - 50 7 3
51 & 2 2
above
Chart 6a: Repayment Facilities
Interpretation:
64% of respondents said ‘Yes’ to structured EMI payment methods which

was suited to their needs

Structured EMI payment preference was highly preferred among the
younger group of respondents. The preference for structured payments
decreases gradually among the older group of respondents.
Q7a. Please select your preference among the following flexible EMI
repayment services offered.
Table 7a: Types of Flexible EMI Repayment
18-30 31-40 41-50 51 &

above
Bullet 7 1 1 1
Payment
Rear End Balloon 1
Step Down 15 9 7
Step Up 3 1
Chart 7a: Types of Flexible EMI Repayment
Interpretation:
Age Group
• 18-30 years: 60% respondents preferred the Step Down payment

method while 28% preferred the Bullet payment method.
• 31-40 years: 82% respondents preferred the Step Down payment
method.
• 41-50 years: 88% preferred the Step Down payment method.
• 51-60 years: 50% preferred the Bullet payment and Balloon payment
each.

The data indicates that the Step Down mode of payment (67%) was
preferred across all categories while the Bullet Mode of payment (22%)
was the second most preferred choice.
Q 8a. What type of EMI repayment facility you prefer?
Table 8a: Types of Repayment Service
51 &
Age 18-30 31-40 41-50 above
Quarterly
Reducing 15 22 7 3
Monthly
Reducing 6 14 2 3
Weekly
Reducing 0 0 0 0
Daily
Reducing 0 0 0 0
Chart 8a: Types of Repayment Service
Interpretation:
65% of the respondents prefer Quarterly Reducing type of Repayment

Facilities. Rest of the respondents prefers Monthly Reducing type of
Repayment Facilities. None of them prefer Weekly & Daily Reducing type
of Repayment Facilities.

Q9a. Rank the 4 most Important Auto Loan Terms of Services offered.
(Rank 1 – Highest importance to Rank 4 – Lowest importance)
Table 9a: Most Important Factor
Rank Rank Rank Rank

Services 1 2 3 4
Flexible EMI
Repayment 9 12 19 32 72
Loan Tenor
(Years) 5 12 33 22 72
Down Payment
(%) 12 35 15 10 72
Rate of Interest
(%) 46 13 5 8 72
72 72 72 72 288
Chart 9a: Most Important Factor
Interpretation:
• The majority of respondents ranked Rate of Interest (64%) as the most

important determining factor in selecting an auto loan.
• Down payment was the second most preferred choice.
• Loan tenor was the other important factor identified by respondents as
important in selecting an auto loan.
• The least important factor among the respondents was Flexible EMI
Repayment.
Mid-Car Segment
The Mid-Car Segment consists of vehicles in the price range of Rs. 5-10
lakhs were 40.
Q3b. What type of Rate of Interest (ROI) facility do you prefer on your auto
loan deal?

Table 3b: Rate of Interest
51 &
Age 18-30 31-40 41-50 above
Floating 4 3 1
Fixed 14 11 5 2
Chart 3b: Rate of Interest
Interpretation:
Age Group
• 18-30 years: 78% preferred a fixed rate of interest

• 51years & above: 100% preferred a fixed rate of interest
Overall, 80% preferred a fixed rate of interest while 20% preferred a

floating rate of interest. Thus, in the mid-car segment, it is seen that
respondents preferred a stable interest rate.
Q4b. What is the % of Loan to value (LTV) deal you expect for your auto
loan?
Table 4b: Loan to value
50%- 70%- 80%- 90%-

Loan To Value < 50% 70% 80% 90% 100%
No. of
Respondents 4 12 20 4
Chart 4b: Loan to value

Interpretation: About 50%of customers preferred a loan to value (LTV)
deal of 80-90% while 10% customers preferred an LTV deal of 90-100%.
Compared to the small car segment, a higher percentage of customers
(10%) prefer an LTV deal of about 90-100% category.
Q 5b. What is the Loan Tenor you expect? (No. of Years)
Table 5b: Loan Tenor
Loan Tenor (No. of 1 yr 2 yrs 3 yrs 4 yrs 5 or more

Years) yrs
No. of 2 2 8 26 2
Respondents
Chart 5b: Loan Tenor
Interpretation: About 65% of respondents preferred a loan tenor of 4

years while the preference for more than 5 years was only 5%.
As seen in the small car segment, it is seen here as well that customers
prefer a 4 year loan period.

Q 6b. Are you willing to utilize flexible EMI repayment facilities if offered?
Table 6b: Repayment Facilities
Flexible
EMI
Repaym
ent Yes No
18 – 30 12 7
31 – 40 6 3
41 – 50 4 3
51 &
above 3 2
Chart 6b: Repayment Facilities
Interpretation: About 62.5% (25 out of 40) of respondents had a

favourable opinion of Structured EMI payment methods.

Q 7b. Please select your preference among the following flexible EMI
Table 7b: Types of Flexible EMI Repayment
18-30 31-40 41-50 51 &

above
Bullet Payment 4 5 1 1
Rear End 1
Balloon
Step Down 4 3 2
Step Up 2 1 1
Chart 7b: Types of Flexible EMI Repayment
Interpretation:
44% of respondents (11 of 25) preferred the Bullet mode of payment

while 36% of respondents (9 of 25) preferred the Step Down mode of
payment
Age Group:
• 18-30 years: 36% of respondents preferred the Step Down and Bullet
mode of payment each.
• 31-40 years: 56% of respondents preferred the Bullet mode of payment
while 33% preferred the Step Down mode of payment
• 41-50 years: 50% preferred Step Down while 33% preferred Bullet and
Step Up mode of payment each
• 51 years and above: The lone respondent preferred the Bullet mode of
payment.
Q8 b. What type of EMI repayment facility you prefer?
Table 8b: Types of Repayment Service

51 &
Age 18-30 31-40 41-50 above
Quarterly
Reducing 13 7 3 2
Monthly Reducing 6 4 3 2
Weekly Reducing 0 0 0 0
Daily Reducing 0 0 0 0
Chart 8b: Types of Repayment Service
Interpretation:
63% of the respondents prefer Quarterly Reducing type of Repayment

Facilities. Rest of the respondents prefers Monthly Reducing type of
Repayment Facilities. None of them prefer Weekly & Daily Reducing type
of Repayment Facilities.
Q9 b. Rank the 4 most Important Auto Loan Terms of Services offered.

Table 9b: Most Important Factors
Rank Rank Rank Rank

Services 1 2 3 4
Flexible EMI
Repayment 4 6 12 18

Loan Tenor
(Years) 3 7 19 11
Down Payment
(%) 7 20 6 7
Rate of Interest
(%) 26 7 3 4
Chart 9b: Most Important Factors
Interpretation:
• The majority of respondents ranked Rate of Interest (64%) as the most

important determining factor in selecting an auto loan.
• Down payment was the second most preferred choice.
• Loan tenor was the other important factor identified by respondents as
important in selecting an auto loan.
• The least important factor among the respondents was Flexible EMI
Repayment.
Luxury Segment
The Luxury segment consists of cars priced above Rs. 10 lakhs. The total
number of respondents was only 18.
Q3c .What type of Rate of Interest (ROI) facility do you prefer on your auto
loan deal?
Table 3c: Rate of Interest
51 &
Age 18-30 31-40 41-50 above
Floati
ng 2 1 1 0

Fixed 8 4 2 0
Chart 3c: Rate of Interest
Interpretation: 80 % of customers preferred the fixed rate of payment
Q4c. What is the % of Loan to value (LTV) deal you expect for your auto
loan?
Table 4c: Loan to Value
50%- 70%- 80%- 90%-

Loan To Value < 50% 70% 80% 90% 100%
No. of
Respondents 7 11
Chart 4c: Loan to Value
Interpretation: 61% customers preferred an LTV deal of 90-100% while

39% preferred an LTV deal of 80-90%

Q 5c. What is the Loan Tenor you expect? (No. of Years)
Table 5c: Loan Tenor
5 or
Loan Tenor more
(No. of Years) 1 yr 2 yrs 3 yrs 4 yrs yrs
No. of
Respondents 1 3 14
Chart 5c: Loan Tenor
Interpretation: 80% of respondents preferred a loan tenor of 5 years.
Q6 c. Are you willing to utilize flexible EMI repayment facilities if offered?
Table 6c: Flexible EMI Repayment Facilities

Flexible
EMI
Repaym
ent Yes No
18 – 30 10 0
31 – 40 2 2
41 – 50 0 4
51 &
above 0 0
Chart 6c: Flexible EMI Repayment Facilities
Interpretation: Only 67% of respondents preferred a structured mode of

payment.
Q7c. If yes, please select your preference among the following flexible EMI
Bullet Payment – 100% (12 out of 12 customers preferred the bullet mode
of payment)
Q8c. What is the type of EMI repayment facility you prefer?

Table 8c: Type of EMI Repayment Facility
51 &
Age 18-30 31-40 41-50 above
Quarterly
Reducing 0 0 8 3
Monthly
Reducing 0 0 5 2
Weekly
Reducing 0 0 0 0
Daily
Reducing 0 0 0 0
Chart 8c: Type of EMI Repayment Facility
Q9c. Rank the 4 most Important Auto Loan Terms of Services offered.
Table 9c: Most Important Factors
Rank Rank Rank Rank

Services 1 2 3 4
Flexible EMI
Repayment 1 4 6 7
Loan Tenor
(Years) 2 1 8 7
Down Payment
(%) 4 9 4 1
Rate of Interest
(%) 11 4 0 3

Chart 9c: Most Important Factors
• Rank 1: 61% of respondents ranked Rate of Interest as the most

important factor.
• Rank 2: 50% preferred the Down Payment factor.
• Rank 3: 44% preferred the Loan Tenor factor.
• Rank4: 38% preferred the Flexible EMI Repayment factor.
LIMITATIONS
1. Time Constraint: We had time constraints as being students, we

were involved in other assignments as well. Time for study on the
project is only 3 months.
2. Budget Constraint: We also faced a budget constraint as this

research is not sponsored by any organization and is meant for
academic purposes.
3. Geographical Constraint: We conducted the research only in

Mumbai. This also limited us to administer the research to a larger
survey.
4. Technology Constraint: The non-availability of the software for data

analysis also proved to be a limiting factor.

PART D
CONCLUSIONS
Findings of the Study
As observed from the summary of findings, 55% of respondents were

customers of small-cars, 31% preferred the mid-car segment and 14% of
respondents preferred the luxury car segment.
Small Car Segment:
1. About 76% of customers preferred the Fixed Rate of Interest. Floating

Rate was only popular among the 18-30years age group (26%).

2. 55% of customers preferred a loan tenor of 5 years while 41%
preferred a loan to value deal (LTV %) of 80-90%.
3. 64% of respondents had a favorable opinion of structured EMI payment

methods and responded positively if such customized payment
methods were offered.
4. Across all age groups 67% of respondents who chose structured

payments preferred the Step Down mode of payment while 22%
preferred the Bullet mode of payment.
5. A majority of respondents ranked the Interest rate as the most

important factor in selecting an auto loan.
Mid Car Segment
1. In the mid car segment (Rs. 5-10 lakhs), 80% of customers preferred a
fixed rate of payment while only 20 % were receptive towards floating
interest rates.
2. 65% of respondents preferred a loan tenor of 5 years and a LTV deal of

80-90%. 10% of customers had preferred an LTV deal of 90-100%
which was an increase from those who preferred the same in the small
car segment (8%).
3. 62.5% of respondents preferred the structured payment methods. The

younger groups of respondents (18-40 years) were more favorable
towards customized payment facilities which suited their needs
whereas the older groups of respondents were more averse to these
methods.

4. In the Mid Car segment, respondents who preferred structured
payment methods, preferred the Bullet mode of Payment (44%) while
36% preferred the Step Down mode of payment.
5. Other than the Rate of Interest which was the ranked the most
important factor (78%), down payment, prepayment charges, loan
tenor and loan disbursement were ranked as important factors in
determining an auto loan.
Luxury Segment (Rs. 10 lakhs and above):
1. Customers in this segment preferred the fixed rate of payment
2. Only 67% of customers responded positively towards structured

payments.
3. Among the customers who preferred structured payments, Bullet

payment was the preferred mode of payment.
4. Loan tenor, LTV deal, and loan disbursement were important factors
selected after the Rate of Interest.
Due to the low number of respondents in the Luxury car segment
because of lack of availability of respondents and time constraint
factors, a more comprehensive analysis could not be obtained.

Conclusions:
• We can therefore infer that a majority of customers are still risk
averse while seeking a loan due to the current economic climate.
• Customers considered a 5 year loan period as the optimal period

for an auto loan
• The younger groups of respondents (18-30 years) were more

responsive towards a structured EMI payment method which
suited their needs whereas the older groups of respondents were
more averse and preferred a standardized EMI payment method.
Overall, structured payments were viewed favourably across all
age groups except respondents above 51 years of age.
• People across age groups preferred to have a lower credit

liability over the years. Although the Step Down mode of
payment meant a higher payment in the initial years, the gradual
reduction in EMI towards the end of the loan period was seen as
a major factor for the respondents to select this method of
structured payment.
• Customers were also looking for favorable down payment

charges, lower prepayment or foreclosure charges, loan tenor as
well as a quicker loan disbursement process
• The customers in middle segment were of a higher income group

and hence, preferred the Bullet mod of payment which suited
their needs. The Step Down mode of payment would have
resulted in a much higher initial payment period and hence was

not as preferred among respondents compared to the Bullet
mode of payment.
PART E
APPENDICES

QUESTIONNAIRE
Dear Sir/ Madam,
We would be grateful if you could answer the following questions honestly. Your
valuable time spared will assist us in collecting relevant data in our area of research.
All information collected will be treated as confidential. Information gathered is
strictly for research purpose.
✔ Please tick the check boxes wherever applicable
Name (Optional): _____________________________________________________________
Age (yrs): 18-30 31-40 41-50 51 & above
Profession: Salaried Self-Employed Business
Annual Income (Rs):
Less than 1,00,000 1,00,001 – 4,00,000 4,00,001 – 7,00,000

7,00,001 – 10,00,000 10,00,000 & above
First-Time Buyer: Yes No
1) Which Car do you intend to purchase?

_______________________________________
2) What would be the price range of the Car you intend to purchase? (Rs. In lakhs)
1-5 lakhs 5-10 lakhs 10-15 lakhs 15-20 lakhs
Above 20 lakhs
3) What type of Rate of Interest (ROI) facility do you prefer on your auto loan deal?
Fixed Floating
4) What is the % of Loan to value (LTV) deal you expect for your auto loan?
Less than 50% 50-70% 70-80% 80-90% 90-100%
5) What is the Loan Tenor you expect? (No. of Years)

1 2 3 4 more than 5
6) Are you willing to utilize flexible EMI repayment facilities if offered?

Yes No

7) If Yes, please select your preference among the following flexible EMI repayment services
offered.
EMI services
Step Up
Step Down
Bullet Payment
Rear End Balloon
8) What is the type of EMI repayment facility you prefer?

Quarterly reducing Monthly reducing Weekly reducing
Daily reducing Others (Please Mention) ___________________
9) What kind of additional services do you expect along with your auto loan? Please check the
boxes below:
Insurance Cover on Loan Margin Money as Fixed Deposit
Zero Balance Savings A/c for Self & 100% Loan Disbursement
International Credit Card
Discount on (Please select from below):
General Insurance premium (Vehicle) Education Loan
Health Insurance premium (for self and family) Personal Loan
Life Insurance premium
*Notes:

Step UP EMI means EMI stipulated taking into account the anticipated
increase in income over a period of time.
Step down EMI – If bulk payments are made during the currency of the
loan, EMI can be reworked for the remaining liability retaining the same
tenor.
Bullet payment EMI: A bulk amount is scheduled as an end payment that

is called the bullet payment. This helps the borrower to pay at his
convenience and arrange for a larger amount to clear off the debt right at
the end.
Rear End Balloon EMI: You have to pay the EMI at the end of each month.
Also known as Rear-Ended EMI
RESEARCH PROPOSAL
Report On:
“To study the satisfaction level of existing ICICI

bank auto loan customers”
Submitted To
Dr.VijayWagh
Group No.

Div - A
Group Members:
Durvesh Galvankar -
120
Pinki Tiwani - 141
Sagar Gala - 151
Urvaksh Mohta - 168
PROBLEM STATEMENT:
To study the satisfaction level of existing ICICI Bank Auto loan customers.

RESEARCH OBJECTIVE:
➢ To study the impact of service.

➢ To study the impact of interest rate.
➢ To study the impact of competitors.

RESEARCH DESIGN:
The Research design the company should have is:
1. Exploratory Research
2. Descriptive Research
Exploratory Research:-
This research allow us to gain information on a subject that we may

have previously known little about and furthermore, can also provide a

platform upon which a formalized research project can be built.
Exploratory research is used to assess the situation in hand with the
minimum cost and time possible. In this research project, we wanted to
first understand the role of ICICI Bank providing Auto loan to its existing
customers.
Descriptive Research:-
Descriptive research answers the questions who, what, where, when

and how. ICICI bank wanted to find out the satisfaction level of their
existing Account holders and what could be done to improve the
satisfaction level. For this reason, we designed a questionnaire which
would help us to gauge the customer’s response depending on various
Parameters that influence a customer’s satisfaction level.
HYPOTHESIS:
customers is
is not

customers is
is not
customers is
dependent on competitors.
is not dependent on competitors.
BENEFITS OF STUDY:

• The study will help ICICI Bank Car Loans to devise appropriate
products/strategies focusing more on customer buying behavior.
• These products would help to fully complement their customers’

needs with regards to their loan requirements.
• The study will help ICICI Bank Car Loan availers to focus their
attention on the loans offered in this segment by ICICI Bank which is
attractive and competing aggressively with other bank loans in the
auto sector.
• The study will help customers to know about the intricacies of the
auto loans provided by the ICICI Bank and how it compares with
other leading banks.
• The study will help us understand as to why Auto Loans are

preferred over outright payments.

IMPORTANCE OF STUDY:
The research will help us analyze:
• Reasons for increasing number of people opting for Auto Loans.
• Which factors influence the most while opting for Auto loans from a
particular bank.
• This will help us understand the perceptions I had previously and

how it has evolved.
• It will also help us analyze the future opportunities for banks in the
Auto loan market.
• With more and more attractive car brands and models jostling for
the consumer’s attention, banks and financial institutions are
competing aggressively to offer the most customer-friendly loan
schemes.
• In this context, it is important to understand the consumer buying

behavior of auto loan customers.

LITERATURE REVIEW PLAN
Websites
http://auto.indiamart.com/auto-finance/#tab
http://auto.indiamart.com/auto-finance/documents-required.html
http://auto.indiamart.com/auto-finance/car-finance.html
http://www.rupeetimes.com/compare/car_loans/state_bank_of_india.html
http://www.icicibank.com/aboutus/about-us.html
Report
ICICI Bank Annual Report 2009

SAMPLING STRATEGY
Target Population
The Population consists of all customers desirous of financing their car
purchase through loans provided by ICICI bank.
Sample frame
The Sample frame consists of all customers visiting ICICI bank.
Sampling Method
Probability sampling is used as the sampling frame is available,
population is homogeneous and population details are available.
Sampling Procedure
Simple random sampling
The population has different categories like people belonging to different
age groups, different income levels each have different perceptions of a
loan product depending upon their need. So we are using simple random
sampling.

Description of the Sample
The sample size of 130 collected by interviewing customers in various
part of Mumbai.
Determine Sample Size
The sample size is given by the formula,
n = (Z2*p*q)
E2
where,
p denotes probability of success = 0.3
q denotes probability of failure = 0.7
Z denotes standard normal variation = 1.96 (As confidence interval is

95%)
E denotes standard error = 8%
n denotes sample size = 126.05
Therefore we select a sample size of 130 respondents.

DATA ANALYSIS
Statistical Tools To Be Used
Hypothesis is the statistical tool that is used in the research.
Software To Be Used
To aid in the process of data analysis we have used the Microsoft Office
Software.

Sr No Activities Schedule Expenses
(Rs)
1 Literature Review 1st Feb-5th Feb 100/-

2011
• Internet
• Past Research
• Brochures
• Books
2 Selecting a Sample 25th Feb-26th Feb 25/-

2011
3 Devising a Tool 28th Feb-2nd 150/-

March 2011
• Determining the
number of
questions
• Determining the
format of questions
• Taking experts
opinion
• Sample
administration of
the questionnaire
4 Contacting the sample 3rd March- 9th 500/-

unit’s March
• Administration of
the questionnaire
• Asking questions
personally
5 Data Analysis 10th March – 18th

March
6 Conclusion & Final Report 19th March – 22nd 300/-

March
Time and Expenses Budget

Qualification of Researcher
Name Qualification
Sagar Gala BMS
Urvaksh Mohta BE Chemical
Durvesh Galvankar B. Com
Pinki Tiwani B.E Biomedical Engineering

FACILITIES & SPECIAL RESOURCES REQUIRED
• Laptop
• Computer with Internet connection
• Printers
• Xerox Machine
• Pendrive
• Mobiles

PART F
BIBLIOGRAPHY
Bibliography:
www.auto.indiamart.com
www.rupeestimes.com
www.crm2day.com
www.indiainfoline.com
www.icicibank.com
ICICI Bank Annual Report 2009

RESEARCH REPORT Final

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RESEARCH REPORT

N.L.Dalmia Institute of Management Studies & Research Page 1

1 PART A - PREFATORY ITEMS 1

2.1 Problem Statement 10

2.2 Research Objective 11

2.3 Research Design 12

2.5 Literature Review 14

3 PART C – METHODOLOGY 101

3.1 Sampling Strategy 102

3.2 Determine Sample Size 103

3.3 Data Analysis 104

3.4 Limitations 125

4 PART D - CONCLUSIONS 126

4.1 Findings 127

4.2 Conclusion 129

5 PART E – APPENDICES 130

5.1 Questionnaire 131

As per your directions in Letter of Authorization dated ________________we

This project was carried on between ________________ and

We believe you will find the results mentioned in the report to be

N.L. Dalmia Institute of Management Studies and Research.

N.L.Dalmia Institute of Management Studies & Research Page 4

“To study the satisfaction level of existing ICICI

N.L.Dalmia Institute of Management Studies & Research Page 5

N.L. Dalmia Institute of Management Studies and Research

I have a strong conviction that you are going to achieve a

Thus to have a deeper insight in Research Methodology, I would like

Core Faculty, Research Methodology

N.L.Dalmia Institute of Management Studies & Research Page 6

Based on certain conditions, banks in India are more than willing to

N.L.Dalmia Institute of Management Studies & Research Page 7

The margin money or down payment

Ex-showroom or on road prices:

Fixed and Floating Interest Rate:

A floating interest rate loan is also referred to as adjustable, variable or

N.L.Dalmia Institute of Management Studies & Research Page 8

Loan tenor is defined as the length of time until a loan is due.

Structured home loans are products which are mapped to specific

• Table repayment structure

• Step Down Payment Structure

• Step up Payment Structure

• Balloon payment Structure

N.L.Dalmia Institute of Management Studies & Research Page 9

• Bullet payment structure

N.L.Dalmia Institute of Management Studies & Research Page 10

N.L.Dalmia Institute of Management Studies & Research Page 11

➢ To study the impact of service.

N.L.Dalmia Institute of Management Studies & Research Page 12

The Research design the company should have is:

N.L.Dalmia Institute of Management Studies & Research Page 13

This research allow us to gain information on a subject that we may

Descriptive research answers the questions who, what, where, when

N.L.Dalmia Institute of Management Studies & Research Page 14

dependent on interest rate.

dependent on interest rate.

N.L.Dalmia Institute of Management Studies & Research Page 15

N.L.Dalmia Institute of Management Studies & Research Page 16

Start your comparison by classifying the banks into two broad

Government run banks generally would have strict regulations when

N.L.Dalmia Institute of Management Studies & Research Page 17

Key to a Great Auto Loan #1: Choose A Car: -

N.L.Dalmia Institute of Management Studies & Research Page 18