ICICI Bank SME Loan

ICICI Bank is India’s one of the biggest privet sector bank. They always think about their customers so they offer ICICI Bank SME Loans and ICICI Bank MSME Loans. You can easily avail an ICICI Bank SME Loan Online without any collateral. ICICI Bank SME Loan Interest Rate is lower than other lending institutions. You also can go for ICICI Bank SME Loan Apply Online with minimal documents and lower interest rates. Also if you are having any problem with your ICICI Bank SME Loan you can call the ICICI Bank SME Loan Customer Care number for help and as they are very helpful they will help you out in this case. Once you meet the ICICI Bank SME Loan Eligibility your fund will be disbursed and will be in your account in any moment. Also the ICICI Bank SME Loan Documents are very minimal. The ICICI Bank SME Loan Interest Rate completely depends on your ICICI Bank SME Loan Eligibility. If your ICICI Bank SME Loan Eligibility is higher your ICICI Bank SME Loan Interest Rate will be lower.

Type of Loans under ICICI Bank SME Loans

ICICI Bank SME Loan is mainly for small scale industries or business here are the types of ICICI Bank SME Loan.

• Working Capital Loan

In ICICI Bank SME Loan working Capital Loan is provided via Cash Credit or Overdraft facility, it will help you day to day running of business.

• Cash Credit Facility

In ICICI Bank SME Loan Cash Credit Facility you have to open a separate cash credit account with ICICI Bank and have to avail Cash Credit Facility. Your current assets like inventory and receivable will be taken as security purpose in ICICI Bank SME Loan Cash Credit Facility. The ICICI Bank SME Loan interest rate starts from 12%*.

• Overdraft Facility

In ICICI Bank SME Loan Overdraft Facility you do not have to open another current account you can avail this facility on your existing current account. Shares, FD’s Insurance policy will be taken as security. The interest Rate starts from 14%*.

• Letter of Credit or Export Credit

The ICICI Bank SME Loan Letter of Credit is for aiding trading purpose. And Export Credit is for financing for pre-shipment and post shipment process.

• Letter of Credit

In ICICI Bank SME Loan letter of credit the bank assured one party behalf of another party, you can request the bank to issue a letter of credit to your supplier guaranteeing the payment against the supplies from vendor to you. Letter of Credit is mostly used for international trade.

• Bank Guarantee

When Bank promises their customers their customers if anything bad came up that will be covered by bank.

• Term Loan

You also can avail ICICI Bank SME Loan Term Loan for buying fixed assets, also sometimes it needs collateral also bank can charge on assets.

ICICI Bank SME Loan Eligibility Criteria

Definition	Micro	Small	Medium
Turnover	Not more than Rs. 5 cr.	Not less than Rs. 5 cr. and not more than Rs. 20 cr.	Not less than Rs. 20 cr. and not more than Rs. 200 cr.
RBI/ MSMED Act investment in plant and machinery	Less than Rs.25lakh for mfg. Units and less than Rs. 10 lakh for services units	Less than 5cr. or mfg. Units and less than Rs. 2 cr. for service units.	Rs. 5-10 cr. for mfg. units and Rs. 2-5 crore for services units
Credit requirement based	Less than Rs. 50 lakh	Rs. 50 lakh- Rs. 5 cr.	Rs. 5 cr.- Rs.20 cr.