ICICI Bank has launched an innovative equated monthly installment (EMI) facility, in association with TranzLease, which enables customers to drive a new car home at lower cost and higher convenience. Termed as ‘SMART EMI’, this next-gen auto loan takes care of the insurance and maintenance requirement of the vehicle during the financing period.
The amount of ‘SMART EMI’ is much lower than regular car loan EMI as the estimated resale value of the car is deducted upfront.
ICICI Bank is India’s largest private sector bank by consolidated assets. ICICI Bank’s subsidiaries include India’s leading private sector insurance, asset management and securities brokerage companies, and among the country’s largest private equity firms.