- Home
- Business Loan
- ICICI Bank Business Loan
ICICI Bank Business Loan
Apply for Business Loan
ICICI Bank Business Loan
Interest Rate
12.5% - 16%
Loan Amount
₹1L - ₹40L
EMI Per Lakh
₹2,250 - ₹2,432
Processing Fees
Pre-Payment Charges
- Charged as per the terms and conditions mentioned in the sanction letter.
- No foreclosure charges for Micro and Small enterprises.
Features and Benefits of ICICI Bank Business Loan
ICICI Bank makes the business loan simple for you and provides some other benefits too. The benefits and features of an ICICI Bank business loan are as follows:
- Access to loan applications anytime and anywhere.
- MSME-supported business loan options.
- Advisory by ICICI Bank’s team of Investment Banking by Small Enterprises Group.
- ICICI Bank Business Loan interest rate applies only to the amount used by you.
- Offers both collateral-based and collateral-free business loans.
- Favourable ICICI Bank Business loan interest rate.
- Minimum documents are required.
- Quick approval and sanction of the business loan.
ICICI Bank Business Loan Overview
You’ve certainly heard the expression “you have to spend money to make money” and it’s true. If you want your business to grow, you must be able to invest in expansion expenses such as equipment, marketing and real estate.
You can’t expand until you invest, but how can you invest whilst maintaining money in the bank for operating expenses?
A small business loan might be the solution. While taking on debt might be intimidating for small business owners, it can help you fund improvements in your company that will result in a good return on investment.
In your business, ICICI Bank is your partner to grow. With a competitive ICICI Bank business loan interest rate and easy application steps, you can make your business operate smoothly with adequate funds.
Types of ICICI Bank Business Loan
ICICI Bank offers business loans under six different specific categories. These are as follows:
Working Capital Finance
This loan is specifically designed by the bank to fulfil all the working capital requirements of a business.
Features
- Overdraft Facility and Cash Credit Limit available for the businesses.
- Availability of Export Credit Facility that can be for both – pre-and post-shipment business requirements.
- Offers bank guarantees to meet and overcome the bank functions and performances.
- Facilities of non-funds available, such as working capital limits (buyers credit facilities, credit letters)
InstaOD
It is an online lending portal by ICICI that helps in availing instant loans to cater for the working capital needs of the business.
Features
- Fast and easy business loan application process.
- Rapid processing of the loan application.
- Rapid disbursement of the funds.
- Minimum documentation is required.
- Up to ₹15 lakhs of overdraft facility for old customers and up to ₹10 lakhs for new customers.
- No need for collateral security.
- Zero prepayment or foreclosure charges on the loan amount.
- Interest only on the funds used by the borrower.
- Zero charges for commitment.
Term Loans
This loan can be used for setting up new units of the business, purchasing new commercial assets, and expanding the industrial units with a competitive ICICI Bank business loan interest rate.
Features
- Loan repayment tenure flexibility and can be extended up to 7 years.
- Loan amount of up to ₹2 crores under the scheme of CGTMSE without the need of any collateral security.
- Assessment based upon the future cash flow of the business.
- Composite loan design, including both term loans and working capital loans to meet the financial requirements of the business.
GST Business Loans
It is principally designed for customers who want to get an overdraft product facility without the need for any financial-related documents.
Features
- Financial documents are not required.
- Simple and hassle-free loan product.
- Up to $20 million overdraft amount.
- Assessment based upon the GST returns.
- Self-occupied, commercial, industrial, or residential properties can get overdraft facilities against them.
Customised MSME Solution
This loan by ICICI Bank is especially for the Micro, Small and Medium Enterprises (MSMEs). The customisation in MSME solutions helps in choosing the right loan products. Loans can be availed under the following different categories: Loans for New Entities, Loans Without Financials, Collateral Free Loans, Finance of Importers and Exporters, and Insta-Secured Overdraft facility.
Features
- Minimum documents requirements.
- Fast processing of loan applications.
- Instant sanctioning of the funds.
- Manufacturers, traders, and service providers can avail this loan.
Industry Specific Loans
The ICICI Bank provides this loan to meet the industry-specific requirements. The different loans offered under this scheme are as follows: Pharmaceuticals, Construction, Informational Technology, and Educational Institutions.
Features
- For the betterment of the specific industry business.
- Increase awareness about the latest practises and challenges.
- End-to-end solution for the industries.
- Specialised loans for the IT sector.
Documents Required for ICICI Bank Business Loan
Though paperwork requirements vary depending on the ICICI Bank business loan programme, here is a list of some typical papers that you may be required to submit:
- Primary Applicant’s PAN Card or the Organisation’s PAN Card
- Completed application form with the principal applicant’s passport-size photos
- Identity proof for the applicant– Voter ID, Passport, Driving Licence, Aadhaar Card, and so on.
- Address Proof – Driving Licence, Voter’s ID, Passport, Telephone Bill, Electricity Bill (Nothing older than 3 months), Sale Agreement / Bank Statement (not older than 3 months) Registered Lease Deed, and so forth.
- Proof of ownership of either a residence or an office
- Bank Statement, ITR, Certificate of Incorporation, Shops & Establishment Certificate, Partnership Deed, Sales Tax Challans, etc. as proof of business continuity
- Profit and Loss Statement and Balance Sheet (duly audited by a licenced Chartered Accountant), book-debt and creditors-statement for the most recent three months, periodic stock, and so on.
How Does the EMI calculation work for ICICI Bank Business Loans?
ICICI Bank calculates the EMI based upon the ICICI Bank Business Loan interest rate, loan repayment tenure, loan amount.
These are the contributing factors in the calculation of the EMI in ICICI Bank. Hence, it is important to evaluate everything carefully before you opt for a business loan.
ICICI Bank Business Loan Customer Care Number
You can contact ICICI Bank with your queries and get more information on the ICICI customer care number 1860 120 6699. You can also write to ICICI Bank on
ICICI Phone Banking Centre,
ICICI Bank Tower, 7th floor,
Survey no: 115/27,
Plot no. 12, Nanakramguda, Serilingampally,
Hyderabad – 500032.
Need Loan Assistance?
Connect with Business Loan Advisor Now!
Business Loan By Banks
- Bank of Baroda Business Loan
- Axis Bank Business Loan
- HDFC Bank Business Loan
- Bajaj Finserv Business Loan
- IndiaBulls Business Loan
- Canara Bank Business Loan
- Union Bank of India Business Loan
- DHFL Business Loan
- CITI Bank Business Loan
- YES Bank Business Loan
- Federal Bank Business Loan
- IndusInd Bank Business Loan
- State Bank of India Business Loan
- Hero FinCorp Business Loan
- Punjab National Bank Business Loan
- IDFC FIRST Bank Business Loan
- IDBI Bank Business Loan
- Digikredit-SME Corner Business Loan
- Kotak Bank Business Loan
- Lending Kart-Nbfc Business Loan
- Ujjivan Small Finance Bank Business Loan
- Muthoot Finance Ltd Business Loan
- Shriram Urban Co Operative Bank Limited Business Loan
- Tata Capital Housing Finance Limited Business Loan
- HDFC Sales Business Loan
- Capital First Ltd. Business Loan
- Poonawalla Fincorp Limited Business Loan
- Tata Capital Financial Services LTD Business Loan
- Clix Capital Business Loan
- Aditya Birla Finance Limited Business Loan
- L&T Finance Business Loan
- HSBC Business Loan
- Bank of India Business Loan
- Fullerton India Business Loan
- NeoGrowth Business Loan
- IIFL Finance Business Loan
- Piramal Housing Finance Business Loan
- Edelweiss Financial Services Business Loan
- INDIFI Business Loan
- INTELLEGROW Business Loan
- DCB Bank Business Loan
- Capri Global Business Loan
- UGRO Capital Business Loan
- RBL Bank Business Loan
- FT Cash Business Loan
- Loantap Credit Products Private Limited Business Loan
- Arka Fincap Limited Business Loan
- Deutsche Bank Business Loan
Icici Bank Quick Links
- ICICI Bank Home Loan Calculator
- ICICI Bank RD (Recurring Deposit) Calculator
- ICICI Personal Loan Calculator
- ICICI FD (Fixed Deposit) Calculator
- ICICI PPF (Public Provident Fund) Calculator
- ICICI Loan Against Property (LAP) Calculator
- Icici Bank Home Loan
- Icici Bank Loan Against Property
- Icici Bank Personal Loan
- Icici Bank Ifsc Code
FAQs
From refinancing to reducing your interest, we have the answers right here.
How can I speed up my business loan approval?
What is loan foreclosure?
How much EMI do I have to pay for a business loan?
What is the minimum turnover requirement for a business loan?
Who can take a Business Loan?
Does ICICI Bank provide business loans at the best rate?
What are the benefits ICICI Bank Provides on a business loan?
Does ICICI Bank have a fixed rate of interest on a business loan?
Most Popular on Urban Money
Bank Wise Home Loan Eligibility Calculator
- SBI Home Loan Eligibility Calculator
- HDFC Home Loan Eligibility Calculator
- Axis Bank Home Loan Eligibility Calculator
- ICICI Home Loan Eligibility Calculator
- LIC Home Loan Eligibility Calculator
- PNB Home Loan Eligibility Calculator
- Canara Bank Home Loan Eligibility Calculator
- Bank of Baroda Home Loan Eligibility Calculator
- Bank of India Home Loan Eligibility Calculator
Get your latest Credit Score, FREE
Business Loan Guide
Get in-depth knowledge about all things related to Business Loan and your finances
Debt To Income (DTI) Ratio : Calculation Formula, Types and Limitations
Better debt management is crucial to avail of the available financial opportunities. Whether you wish to secure a personal loan, business loan, home loan, or even credit card, lenders have various met
What is a Long-Term Loan?
A long-term loan is a type of financing that provides borrowers with a substantial amount of money to be repaid over an extended period, typically exceeding one year. Unlike short-term loans that are
Pradhan Mantri MUDRA Yojana
The Mudra loan is offered to many business owners with a strong business plan. However, to avail of the loan, one must fulfill the requirements set by the lending institution. Every institution will h