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ICICI Bank Business Loan
ICICI bank has many designed packages including great deals and offers to give business loans to their customers.
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ICICI Bank Business Loan
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ICICI Bank Business LoanHere are a few factors
| 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 |
ICICI Bank Business Loan EMI Calculator
Interest Type
Loan Amount
Interest Rate
Loan Tenure
| Loan Amount | ₹100,000 |
| Interest % | 15 % |
| Tenure (months) | 12 |
| Emi (monthly) | ₹ 9,026 |
| Total Interest | ₹ 8,310 |
| Loan Amount + Interest | ₹ 108,310 |
| Year | Total Principal ( A ) | Total Interest ( B ) | Balance ( A + B) | Total Payment | Loan Paid Till Date (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ₹ 100,002 | ₹ 8,310 | ₹ 108,312 | ₹ 0 | 100.00 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Documents Required for ICICI Bank Business Loan
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KYC of applicant & Co-Applicant
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Last 3 year ITR with computation of income of applicant & co-applicant
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Last 3 year audited balance sheet of applicant
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Last 3 year Tax audit report of applicant
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Last 12 month Bank Statement of applicant & co-applicant
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26AS of last 2 year of applicant & co-applicant
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Copy of GST registration
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Copy of MSME registration
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Copy of Last 12 month GST return
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Sanction letter of all running loan
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Debt Sheet
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Latest utility Bill of residence if owned or rent agreement if rented
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Latest utility Bill of Office if owned or rent agreement if rented
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2 Reference with contact details
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Last 3 year Debtors & Creditors on letter head
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List of Directors & Shareholders, if applicant if Company or List of Partners if applicant is Partnership firm/LLP
Some Important Points
- Company-MOA, AOA, COI , PAN Card
- Partnership Firm/LLP- Partnership Deed & PAN Card
- Proprietorship Firm- PAN Card, Adhaar Card, Passport size photo
- KYC means Adhaar Card, PAN Card, Passport Size Photo
- Company : Directors
- Partnership firm/LLP : Partners
- Proprietorship Firm : Spouse of Proprietor
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:
Save Your Time with a Simple Loan Process
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, you will receive your loan amount shortly.
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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