ICICI Bank Business Loan

Competitive interest rates: ICICI Bank offers attractive interest rates on business loans, making it easier for borrowers to manage their loan repayment.

Flexible repayment options: ICICI Bank offers flexible repayment options, which allow borrowers to choose a repayment tenure that suits their financial situation.

Minimal documentation: ICICI Bank requires minimal documentation, which makes the loan application process quicker and hassle-free.

Quick disbursal: ICICI Bank has a quick loan disbursal process, which ensures that borrowers can access funds quickly and without any delays.

Customised loan options: ICICI Bank offers customised loan options based on the borrower's business needs, ensuring that they get the right loan for their requirements.

Dedicated customer support: ICICI Bank has a dedicated customer support team that is available to assist borrowers with any queries or concerns they may have throughout the loan tenure.

• Loan amounts: ICICI Bank provides business loans ranging from INR 50,000 to INR 75 lakh, depending on the type of loan and the creditworthiness of the borrower.
• Flexible repayment options: ICICI Bank offers flexible repayment options, including customized repayment schedules that match the cash flow of the business.
• Quick disbursal: ICICI Bank's business loans are approved and disbursed quickly, with funds typically available within a few days of the loan application.
• Collateral-free loans: Some of ICICI Bank's business loan products, such as the Unsecured Business Loan, do not require collateral, making it easier for small businesses to access financing.
• Competitive interest rates: ICICI Bank's business loan products are available at competitive interest rates, which can help businesses save on borrowing costs.
• Online account management: ICICI Bank provides an online portal where borrowers can view their loan account details, track payments, and access other services.
• Dedicated relationship managers: ICICI Bank assigns a dedicated relationship manager to each business loan customer, providing personalized service and support.
• Multiple loan options: ICICI Bank provides a variety of business loan products, including term loans, working capital loans, overdraft facilities, and others, to meet the diverse needs of businesses.

Overall, ICICI Bank's business loan products offer flexible and customized financing solutions to help businesses grow and expand their operations. The bank's wide range of products and services, competitive interest rates, and quick disbursal process make it a popular choice among small and medium-sized enterprises (SMEs) in India.

• Identity proof: Any one of the following documents can be submitted as identity proof - Aadhaar Card, Voter ID, Passport, PAN Card, or Driving License.
• Address proof: Any one of the following documents can be submitted as address proof - Aadhaar Card, Voter ID, Passport, Bank statement, or Utility bill.
• Business proof: The borrower must provide proof of business, such as a business registration certificate, partnership deed, or Memorandum of Association (MOA) and Articles of Association (AOA).
• Financial documents: ICICI Bank may ask for financial documents such as bank statements, audited financial statements, income tax returns, or balance sheet and profit and loss statements to evaluate the creditworthiness of the borrower.
• KYC documents: The borrower must submit Know Your Customer (KYC) documents, such as PAN Card or Aadhaar Card, to comply with regulatory requirements.

1.What is the minimum and maximum loan amount that I can avail from ICICI Bank for my business?

ICICI Bank offers business loans starting from Rs. 50,000 up to a maximum of Rs. 75 lakhs, depending on the borrower's creditworthiness and business requirements.

2.What is the repayment period for ICICI Bank business loans?

The repayment period for ICICI Bank business loans can range from 12 months to 60 months, depending on the borrower's preference and loan amount.

3.What are the eligibility criteria for availing a business loan from ICICI Bank?

The eligibility criteria for availing a business loan from ICICI Bank include the borrower's age, business vintage, credit score, and minimum annual turnover, among other factors.

4.How much interest rate is charged by ICICI Bank for its business loans?

The interest rates for ICICI Bank business loans start at 16.49% per annum, depending on the borrower's credit profile and business requirements.

5.What is the processing time for ICICI Bank business loans?

ICICI Bank has a quick loan processing time, with loan disbursement in as little as 72 hours, subject to the completion of documentation and verification procedures.

6.What is the collateral requirement for ICICI Bank business loans?

ICICI Bank may require collateral or security for its business loans, depending on the borrower's credit profile and loan amount.

7.Can I prepay my ICICI Bank business loan?

Yes, borrowers can prepay their ICICI Bank business loans without any prepayment charges, subject to certain terms and conditions.

8.What documents are required to apply for an ICICI Bank business loan?

The documents required to apply for an ICICI Bank business loan include identity proof, address proof, business ownership proof, financial statements, and bank statements, among others.