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ICICI Bank Business Loan

Here are a few factors

How To Apply
Product Rating

( 4.6 /5 )

Total - 361 ratings

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Mode of Process

Offline

Location

Delhi-NCR

Lending Size and Tenure



Minimum (In Rs.)- 2,00,000(1 year)

Maximum (In Rs.)-70,00,000 (3 years)

ROI

15.50% to 18.50%

ROI (Fixed/Reducing)

Fixed

Processing Fees

Up to 2.00% of the loan amount.



Foreclosure

5% Fixed

Age of Client (If Proprietor)

Minimum (In Year)- 27

Maximum (In Year)- 55

Overdue EMI interest

Rs. 400 per bounce of the EMI

ICICI Bank Business Loan EMI Calculator

Interest Type

Loan Amount

₹

Interest Rate

%

Loan Tenure

Mo
Loan Amount₹100,000
Interest %16 %
Tenure (months)12
Emi (monthly)₹ 9,073
Total Interest₹ 8,877
Loan Amount + Interest₹ 108,877
YearTotal Principal
( A )		Total Interest
( B )		Balance
( A + B)		Total Payment Loan Paid Till Date (%)
₹ 56,394₹ 7,117₹ 63,511₹ 43,60656.39 %
Jun₹ 7,740₹ 1,333₹ 9,073₹ 92,2607.74 %
Jul₹ 7,843₹ 1,230₹ 9,073₹ 84,41715.58 %
Aug₹ 7,947₹ 1,126₹ 9,073₹ 76,47023.53 %
Sep₹ 8,053₹ 1,020₹ 9,073₹ 68,41731.58 %
Oct₹ 8,161₹ 912₹ 9,073₹ 60,25639.74 %
Nov₹ 8,270₹ 803₹ 9,073₹ 51,98648.01 %
Dec₹ 8,380₹ 693₹ 9,073₹ 43,60656.39 %
₹ 43,607₹ 1,758₹ 45,365₹ 0100.00 %
Jan₹ 8,492₹ 581₹ 9,073₹ 35,11464.89 %
Feb₹ 8,605₹ 468₹ 9,073₹ 26,50973.49 %
Mar₹ 8,720₹ 353₹ 9,073₹ 17,78982.21 %
Apr₹ 8,836₹ 237₹ 9,073₹ 8,95391.05 %
May₹ 8,954₹ 119₹ 9,073₹ 0100.00 %
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.

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

Documents and Eligibility Required Loan

Let’s look into the eligibilities and required Documentation to make your application process even smoother:

Eligibility

  • The business loan applicant should be between the age of 27 years to 55 years.
  • The customer's monthly net income should be at least Rs.1.5 lakh.
  • The monthly turnover of the customer’s business should be at least Rs. 40 Lakhs.
Apply for Loan

Documents Required

  • Application form
  • Identity proof
  • Your KYC documents, such as proof of address, GST Registration Certificate (if applicable), PAN Card, and other registration certificates if applicable.
  • For income documents, such as utility bills, rent agreements, etc., KYC data of your partner, director, or proprietor is required.
  • The balance sheet of the business for the last two years.
  • Last six months' bank account statements.

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.

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 27 years to 55 years.

For getting an ICICI bank business loan, the customer's monthly net income should be at least Rs.1.5 lakh.

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