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Salaried Self-Employed

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Minimum Loan amount is Rs.15,000 !

Maximum Loan amount is Rs.75 Lakhs !

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Salary should be Minimum Rs.10,000!

Salary should be Maximum Rs.10 Crores !

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Minimum Turnover Should Be Rs. 3 Lakhs!

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Interest rate start 10.75% * Upto 40 Lacs
Loan Duration: 12 – 60 months*

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Enter Loan amount!

Minimum Loan amount is Rs.15,000 !

Maximum Loan amount is Rs. 75 Lakhs!

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Salary should be Minimum Rs.15,000!

Salary should be Maximum Rs.10 Crore!

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Minimum Turnover Should Be Rs. 3Lakhs!

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Interest rate start 10.75% * Upto 40 Lacs
Loan Duration: 12 – 60 months*

4.5 /5(500 Votes)

ICICI Bank Business Loan

ICICI Bank is one of the leading banking institutions with its headquarter in Mumbai, Maharashtra. To cater to the varying needs of the customers, the bank offers a wide range of financial banking products. Among these products, ICICI Bank Business Loan offers financial guidance against any kind of business needs. Whether you need regular cash for day to day business activities or to buy new and advanced equipment, expanding the business or want to invest in the office or factory space, ICICI Bank Business Loan is your solution to all your business-related problems. For ICICI Bank Business Loan apply, you need to fulfill ICICI Bank Business Loan eligibility. Whether you opt for ICICI Bank Loan for new business or ICICI Bank GST Business Loan, you need to satisfy business loan eligibility in ICICI Bank which is quite minimal to obtain ICICI Bank Business Loan interest at a lower rate. If you have small or medium sized business, then you can easily opt for ICICI SME Loan or ICICI Bank MSME Loan.

Why choose ICICI Bank Business Loan?

ICICI Bank Business Loan helps to grow your business in a hassle free way. ICICI Bank Business Loan is an unsecured loan which do not ask for any security or collateral. With ICICI Bank Unsecured Business Loan, you need to maintain a good credit score of 750 or more with a decent repaying capacity to obtain lower ICICI Bank Business Loan rate of interest. You can easily avail ICICI Bank Loan for business up to Rs. 40 lakhs for a loan tenure up to 5 years. With a flexible EMI option, you can easily repay ICICI Bank Business Loan without much pressure on your monthly budget.

Here are some of the key reasons as to why should you opt for ICICI Bank Business Loan-

  • The loan approval and disbursal process for ICICI Bank Business Loan is very fast and smooth.
  • ICICI Bank Business Loan can be availed at a highly competitive interest rate.
  • You need to satisfy business loan eligibility in ICICI Bank which are quite minimal to secure ICICI Bank Business Loan interest rate at a lower rate.
  • To save your time, you can easily opt for ICICI Bank Business Loan online apply at your own comfortable place.
  • After you fill up ICICI Bank Business Loan application form, you need to submit ICICI Bank Business Loan documents which are devoid of any complexity.
  • Repayment for ICICI Bank Loan for Business purpose is possible from 1 year to 5 years.
  • You can calculate the EMI amount that you have to pay on a monthly basis using ICICI Bank Business Loan EMI Calculator.
  • ICICI SME Loan and ICICI Bank MSME Loan offers immediate fund to meet cash requirements for small or medium sized business.
  • After you opt for ICICI Bank Business Loan online apply, you can check ICICI Bank Business Loan status through online mode.
  • Before you opt for ICICI Bank Business Loan apply, you can use ICICI Bank Business Loan eligibility calculator to check your loan eligibility.

Types of ICICI Bank Business Loan

ICICI Bank Loan for Businesses are of various kinds to suit different kinds of business needs. To provide financial help to small and medium enterprises (SME) as well as corporates, ICICI Bank Business Loan are of varied kinds that are explained below-

  • Business Financing

    ICICI Bank Business Loan offers business financing to medium-sized business which are in need of money.

    • Working Capital Finance
    • To serve the working capital requirements of the business, ICICI Bank Business Loan offers working capital finance which can be cash credit limit, letter of credit or overdraft option.

    • GST Business Loan
    • Based on your GST returns, ICICI Bank GST Business Loan is offered as an overdraft up to Rs. 1 crores. You need to keep a property or high liquidity security paper as a collateral with the bank.

    • Term Loans
    • To grow your business, you can avail term loan depending on your future cash flows of the businesses. You can obtain a loan up to Rs. 1 crore within a tenure of 7 years.

    • InstaOD
    • You can avail InstaOD with zero collateral with minimum paperwork. You need to have a current a/c to obtain this InstaOD facility.

  • Customized Solutions

    To meet the financial needs of SMEs to enhance their business, ICICI Bank Business Loan offers ICICI SME Loan and ICICI Bank MSME Loan which are a customized solution of different types-

    • Collateral Free Loans
    • Loans for New Entities
    • Finance for Exporters & Importers
    • Loans without Financials
  • Industry Specific Loans

    To address the industry specific needs, ICICI Bank Business Loan offers tailor made industry specific loans-

    • Loans for Construction purposes
    • Loans for Pharmaceuticals
    • Loans for Educational Institutions
    • Loans for Information Technology (IT)

ICICI Bank Business Loan Eligibility Criteria

To avail ICICI Bank Business Loan, you need to fulfill business loan eligibility in ICICI Bank which are very easy to satisfy. ICICI Bank Business Loan eligibility are mentioned below-

Age

25-65 years

CIBIL score

750 or more

Business Continuity

Self-employed non-professionals- 5 years Self-employed professionals- 3 years

Annual Turnover

Rs. 1 crore and more

Business Eligibility

Self-employed Non-Professionals- Public & Private ltd. companies, Sole proprietors, Partnership firms etc. Self-employed Professionals- Doctor, CA, Architect, etc.

Loan Amount

Up to Rs. 40 lakhs

Loan Tenure

36 months for self-employed non-professionals 60 months for self-employed professionals

ICICI Bank Business Loan Document Requirements

You need to submit very minimum documents for ICICI Bank Business Loan. Let’s have a look at ICICI Bank Business Loan documents that are required to opt for ICICI Bank Business Loan-

  • Duly filled application form
  • Latest Bank a/c Statement of last 12 months for takeover proposals and 6 months for fresh borrowers.
  • Entity proof- Certificate of Incorporations/Partnership Deed/Shops & Establishment Certificate
  • Residence proof of Proprietors/Directors/Partners, Guarantors & security providers
  • PAN card of Directors/Proprietors/Partners
  • Copy of ITR file for last one year.
  • An approved copy of Partnership Deed/Memorandum and Articles of Association.
  • Annual turnover and performance in current year on letterhead of the entity.
  • Business continuation proof- Sales Tax Certificate, Trade License.
  • Audited Balance Sheet, Profit and Loss statement of last 3 financial years.

ICICI Bank Business Loan Interest Rate & Charges

Rate of Interest

15.50%* onwards

Processing Fees

Up to 2%+tax of the loan amount

Foreclosure Charges

Up to 4% of the limit set

Stamp Duty & Statutory Charges

Applicable as per the law

Commitment Fees

Applicable only for OD or CC options

Commissions on Bank Guarantee & Letters of Credit

Up to 2.5%

*Interest rates change time to time.

FAQ’s

The minimum annual turnover must be Rs. 1 crore or more to be eligible for ICICI Bank Business Loan.
You need to have at least 750 or above CIBIL score to apply for ICICI Bank Business Loan.
The lowest interest rate is 15.50%* that is charged for ICICI Bank Business Loan.
The age limit lies between 25 to 65 years for ICICI Bank Business Loan eligibility.
In order to repay ICICI Bank Business Loan, the loan tenure for self-employed professionals range up to 5 years and for self-employed non-professionals, it is 3 years.
*Interest rate and Loan approval are subjected to bank discretion and approval.
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