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Here are a few factors

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Location PAN India
CIBIL Score 700+
Processing Online
Business Vintage 2 Year
Minimum Turnover 70 Lac-Existing ICICI Customer, For Other-1 Cr
Loan Amount & Tenure 2 Lac -70 Lac
(24 month to 36 Month)
Loan Product Term Loan & OD Product
Rate of Interest & Type 15.50% -18.50% (Reducing)
TAT Sanction-3 Days, Disbursement-5 Days
Processing Fees 2%
Foreclosure Charges 4%
Applicant Type Individual, Proprietorship Concern, Partnership Firm/LLP, Company
Whether Co-Applicant Mandatory Yes if Applicant is Other than Proprietorship Firm
Proprietor Age/Co-Applicant Age 24 Year- 60 Year(at the time of maturity)
Part Payment Allowed No
Whether Ownership Proof Required PAN India Owned Office/Residence can be considered only where ICICI Branch is available
Business Registration Proof Mandatory Yes
Program Banking Loan Upto 20 Lac, GST Surrogate -  50 Lac , Income- 70 Lac
Product for Professionals MBBS & MD- 50 lac (ROI -12%-14%)
Negative Profile Advocates, Jewellers, Share Traders, GYM, Liquor, Hotel and Restaurant, Aviation Sector, Tour & Travels, Real Estate
USP Financial Not required upto 20 lac Loan
Additional Unsecured Loan history is required or Higher amount of secured loan history is required
Right Documents - Easy Process

Documents Required for ICICI Bank Business Loan

  • KYC of applicant & Co-Applicant
  • Last 3 year ITR with computation of income of applicant & co-applicant
  • Last 3 year audited balance sheet of applicant
  • Last 3 year Tax audit report of applicant
  • Last 12 month Bank Statement of applicant & co-applicant
  • 26AS of last 2 year of applicant & co-applicant
  • Copy of GST registration
  • Copy of MSME registration
  • Copy of Last 12 month GST return
  • Sanction letter of all running loan
  • Debt Sheet
  • Latest utility Bill of residence if owned or rent agreement if rented
  • Latest utility Bill of Office if owned or rent agreement if rented
  • 2 Reference with contact details
  • Last 3 year Debtors & Creditors on letter head
  • List of Directors & Shareholders, if applicant if Company or List of Partners if applicant is Partnership firm/LLP

Some Important Points

1. KYC Means If Applicant is
  • Company-MOA, AOA, COI , PAN Card
  • Partnership Firm/LLP- Partnership Deed & PAN Card
  • Proprietorship Firm- PAN Card, Adhaar Card, Passport size photo
For Co-Applicant
  • KYC means  Adhaar Card, PAN Card, Passport Size Photo
Co-Applicant means in case of
  • Company : Directors
  • Partnership firm/LLP : Partners
  • Proprietorship Firm : Spouse of Proprietor
2. If applicant is professional, then his professional degree is required
Share & Apply

Note : ICICI Bank Business Loan may ask for additional documents based on the applicant’s profile. The above list is for reference purposes only.

About ICICI Bank Business Loan

When it comes to businesses, managing finances become a little bit difficult sometimes. So for such situations, ICICI bank has many designed packages including great deals and offers to give business loans to their customers. Icici bank has helped many of their customers with their business needs and requirements for giving loans unto Rs., 70,00,000.

BENEFITS OF ICICI BANK BUSINESS LOAN

As we all know that ICICI bank is a leading bank these days, so below are some of its benefits for business loans:

They do not ask for any security or collateral for giving business loans
Maximum loan tenure depends upon your profession (for doctors - 60 months, for professionals - 48 months, and non-professionals - 36 months)
Easy application process and quick disbursal of the loan amount
They require very minimal documentation from the customers
They have attractive and less interest rates as compared to other banks
They do provide Convenient loan repayment methods
Work Process

Save Your Time with a Simple Loan Process

01
Visit Our Website

For the first step, you will have to visit our website to explore the loan options that fit your needs.

02
Select and Apply

Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.

03
Submit Your Document

One of the most important steps. Now you will have to submit all the required documents digitally.

04
Enjoy Your Financial Freedom!

Once your application is approved based on your eligibility, you will receive your loan amount shortly.

Leave Your Question

FREQUENTLY ASKED QUESTIONS

For this category, the below professional people are allowed to apply for the ICICI bank business loan: Doctors Chartered accountants Architects Company secretaries

As we know that ICICI bank offers very fewer interest rates as compared to other banks. The interest rate of this bank depends upon some factors like Your business profile The past performance track record of the business The past financial records of the business And the loan amount and the tenure being applied for the business loan.

Yes, the option for transferring the business loan from any other bank to ICICI bank is available.

The ICICI bank business loan applicant should be between the age of 24 years to 60 years.

For getting an ICICI bank business loan, turnover should be at least Rs.1 cr.

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