ICICI Bank Business Loan

Highlights of ICICI Bank Business Loan

ICICI Bank offers business loans to traders, MSMEs, and growing firms in fixed EMI and working capital formats. Applicants can choose an icici business loan as an unsecured instalment facility, or opt for OD/CC limits for daily cash needs and supplier terms. Digital journeys help check eligibility, apply online, and review fees before submission.

Features & Benefits of ICICI Bank Business Loan

ICICI Bank offers funding formats tailored to various stages of business development. Applications are digital-first, with assisted support available when needed. Paperwork remains lean, while decisions are based on a candidate’s profile and supporting documents.

• You can apply online for an ICICI Bank business loan using a simple form and basic details, which helps busy owners save time during peak hours.
• Unsecured instalment loans offer fixed EMIs for planned expenses, while OD/CC lines give flexibility for daily cash cycles and supplier terms.
• Funds can be used for inventory, raw materials, equipment, rent, or routine operating costs, based on the declared purpose.
• Repayment can be aligned with cash flow, offering options to choose a tenure and EMI size that suit the business’s seasonality.
• MSME borrowers can access products tailored to their needs, with collateral-free options available under eligible programmes and scheme norms.
• ICICI corporate loan programmes serve larger ticket needs, where security and higher limits are considered against financial strength.
• Pre-approved offers may be available to select profiles, allowing quicker disbursal after standard checks and document validation.
• Account management tools help track EMIs, statements, and renewal timelines, keeping records clear for audits and future applications.
• Processing and service charges are displayed upfront in schedules, so borrowers can plan total costs before signing the agreement.
• Support is available through call-back requests, relationship teams, and branches, ensuring guidance through eligibility, documentation, and next steps.

Eligibility Criteria For ICICI Bank Business Loan

ICICI assesses stability, cash flows, and compliance before approval. Programme rules differ across term loans, OD/CC, and scheme-based limits. Use the online tool to check ICICI Bank business loan eligibility in advance.

Factors Affecting ICICI Bank Business Loan Eligibility

Basic rules are only the start. ICICI reviews business strength, banking habits, and compliance in greater detail before making a final decision.

• Credit Behaviour: Clean bureau history with no recent write-offs or repeated delays. Strong scores lift limits and improve pricing during sanctions.
• Business Vintage: Longer continuity signals stability and reliability. A steady track record with audited numbers adds comfort on repayment.
• Turnover Pattern: Consistent sales with predictable seasonality across months. Sharp dips or unexplained spikes warrant closer scrutiny and stricter terms.
• Profitability & Margins: Positive results with stable operating margins over time. Loss periods require reasons, as well as a path to recovery.
• Banking Conduct: Healthy current-account flows and limited cheque returns. Disciplined OD/CC utilisation reflects better cash discipline.
• Existing Leverage: Overall EMI and interest load within prudent ranges. Multiple parallel loans can cap fresh eligibility or reduce tenure.
• Industry Risk: Cyclical or highly regulated sectors may face stricter norms. Stable industries often receive smoother evaluations.
• Compliance Hygiene: Active GST/Udyam where applicable and on-time tax filings. Reconciled returns against statements reduce queries.
• Security available (if secured): Clear title, acceptable valuation, and simple chain of documents. Substantial collateral can ease approval.
• Purpose Clarity: Documented end use—working capital, inventory, equipment, or project spends. Clear plans support risk evaluation and disbursal.

Types of Business Loans By ICICI Bank

ICICI offers fixed EMI loans and revolving limits for various cash cycles. Choices cover unsecured funds, trade finance, and sector-specific needs.

• Unsecured Business Instalment Loan: A collateral-free icici business loan with fixed EMIs for planned spends like equipment or fit-outs. Suit owners who want quick funds without pledging assets.
• Working Capital – OD/CC: Cash Credit or Overdraft for daily expenses, supplier terms, and seasonality. Interest applies to the utilised amount. Limits are reviewed and renewed as per programme norms.
• Trade Facilities (LC/BG): Letters of Credit and Bank Guarantees to manage vendor assurance, imports, and contracts. Useful for both domestic and cross-border trade.
• Collateral-Free / CGTMSE Options: Credit for eligible MSEs without security, within programme caps. Can be structured as a term loan or cash credit under the scheme rules.
• SME Composite Limits: A combined line that can include OD/CC, term loan, export credit, and trade instruments under one assessed limit for faster turnarounds.
• ICICI Corporate loan (secured): Higher ticket, security-backed facilities aligned to financial strength and project needs. Suitable for larger firms with structured requirements.

ICICI Bank Business Loan Interest Rates

Rates are decided after profile assessment. The bank looks at credit record, turnover, cash flows, and security. Benchmarks and policies are periodically revised.

List of Documents Required for ICICI Bank Business Loan

ICICI requests identity, business, and financial documents to assess the profile and repayment capacity. The final checklist changes with product type (term loan, OD/CC, or trade limits) and entity form.

How to Apply for an ICICI Bank Business Loan on Urban Money?

The journey stays online from enquiry to callback. Forms are concise, and the team guides you through the process after submission.

• Open the Urban Money website on your phone or computer and go to the Business Loan section.
• Select ICICI Bank Business Loan from the lender list to view the product page and review the basic eligibility criteria.
• Click “Apply Now” to launch the form and begin your digital application journey.
• Fill in your name, mobile number, city, business type, and required amount with simple, accurate details.
• Please submit the request so the team can review your profile and schedule a quick callback.
• Keep basic documents handy—such as KYC, business proof, and bank statements- so checks can move faster.
• On call, confirm the loan format you need: an unsecured instalment loan, an overdraft/credit card, or a scheme-linked MSME line.
• Share scanned copies as requested, then track the following steps until sanction and disbursal.

Processing Fee & Other Charges for ICICI Bank Business Loan

ICICI applies programme-wise fees for term loans and working capital limits. Charges cover processing, renewal, prepayment terms, and statutory costs. Exact amounts depend on product type, tenor, and profile assessment.

How does the EMI calculation Work for ICICI Bank Business Loans?

Repayment happens through Equated Monthly Instalments. Each EMI has two parts: principal and interest. The amount stays fixed for the chosen tenure, unless the rate type changes.

Formula used:

EMI = [P × r × (1 + r)^N] ÷ [(1 + r)^N – 1]

Where:

• P = loan amount.
• r = monthly rate (annual ÷ 12 ÷ 100).
• N = number of months.

Example scenarios (illustrative):

• ₹20,00,000 for 48 months at a profile-based ICICI Bank business loan interest rate → EMI ≈ ₹54,653.
• ₹25,00,000 for 48 months at a profile-based rate → EMI ≈ ₹70,851.
• ₹75,00,000 for 60 months at a profile-based rate → EMI ≈ ₹1,78,424.

Use an online Business loan EMI calculator to test different amounts, tenures, and rates. Check the final ICICI Bank business loan interest rate in the sanction letter.