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Icici Bank Business Loan

ICICI Bank Business Loan

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Best Rate

12.25%

Processing Fee

2%

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ICICI Bank business loans can help you meet your business needs. You can get unsecured loans to upgrade your business, expand it, or buy equipment. ICICI Bank offers loans up to INR 2 Crore with flexible repayment terms and competitive interest rates based on your GST Returns. Below, we’ll cover everything you need to know about ICICI business loans, including eligibility, required documents, and more. Applying for an ICICI Bank business loan is simple—just visit a branch or apply online. ICICI Bank's quick and easy loan process ensures you get the funds you need to grow your business.

ICICI Bank Business Loan Eligibility Criteria

Self-employed individuals can access business loans designed by ICICI Bank. To be eligible for these loans, you must meet certain requirements related to your age, income, business history, and relationship with the bank.

Age Requirements:

  • Self-Employed Individuals: You must be at least 28 years old.
  • Doctors: You must be at least 25 years old.
  • Maximum Age: No one over 65 years old is eligible.

Income Requirements:

  • Non-Professionals: According to your audited financial records, your business must meet a minimum annual turnover of Rs. 40 lakh.
  • Professionals: A minimum annual turnover of Rs. 15 lakh is required for your business, as per the audited financial records.
  • Profit After Tax: Your business must have a minimum profit after tax of Rs. 2 lakh for Proprietorship Firms or Self-Employed Individuals and Rs. 1 lakh for non-professionals, as per your audited financial records.

Business Stability:

  • Self-Employed Individuals: Your business must have been operating for at least 5 years.
  • Doctors: Your business must have been operating for at least 3 years.

Relationship with ICICI Bank:

A minimum one-year relationship with ICICI Bank, either as a liability (like a savings or current account) or as an asset (e.g., a loan), is necessary. This relationship can be either currently active or closed within the past 36 months. Additionally, your repayment history with the bank must be satisfactory.

ICICI Bank Business Loan Interest Rate 2025

Charge

Details

Interest Rate

Determined based on business financials, loan amount, and tenure. Secured facilities are available at a rate of Repo Rate + 6.0% (Non-PSL), and facilities secured by CGTMSE can go up to Repo Rate + 7.10%.

Processing Fee

A charge of up to 2% on the facility amount, excluding taxes.

Stamp Duty and Other Statutory Charges

As per applicable laws.

Commission on Letters of Credit and Bank Guarantee

Up to 2% per annum (p.a.) commission on a pro-rata basis, based on tenure and amount of the non-fund-based facility availed.

Commitment Charges

As per the provisions outlined in the sanction letter.

Foreclosure Charges

Standard Charges: As per the terms and conditions in the sanction letter. Exemptions: Micro and Small Enterprises pay no charges.

Pre-payment Charges

If the loan is transferred to another bank during the loan period: A fee of up to 4% of the total limits will be charged. Applicable specifically to Balance Transfers (BT).

ICICI Bank Business Loan for Startups

ICICI Bank offers business loans tailored to startups under its iStartup 2.0 initiative, designed to support new ventures and small businesses.

Loan Details:

  • Loan Amount: ₹1 lakh to ₹40 lakh, depending on your business and creditworthiness.
  • Interest Rate: Competitive rates, starting at Repo Rate + 6.0% for secured loans.
  • Collateral: Many loans, especially for startups, don't need collateral or guarantors.
  • Processing Time: Quick approval and disbursement with simplified paperwork.

Eligibility:

  • Age: 25-65 years at loan maturity.
  • Business Experience: At least 36 months in business or a strong business plan.
  • Turnover: ₹60 lakh or more is preferred.
  • Credit Score: Good credit score (700+) is essential.
  • Documents: Financial statements, IT returns, and bank statements.

Benefits:

  • Overdraft: Flexible working capital.
  • Early Closure: Close the loan after 6 EMIs with minimal charges.
  • Support Network: Access to 2,600+ branches and a startup banking ecosystem.

ICICI Bank Business Loan Documentation Process

While specific documents may vary, here are some common ones:

  • Your or Your Company's PAN Card
  • Completed Application Form with Your Photo
  • Your Identity Proof: Voter ID, Passport, Driving License, Aadhaar Card, etc.
  • Your Address Proof: Driving License, Voter ID, Passport, Utility Bills (recent), Lease Deed, etc.
  • Proof of Property Ownership (Home or Office)
  • Business Continuity Proof: Documents such as bank statements, income tax returns, incorporation certificates, partnership deeds, and sales tax challans.
  • Financial Statements: Profit and Loss Statement, Balance Sheet (audited), recent book-debt, creditors, and stock statements.

ICICI Bank Business Loan Application Process

Online Application Process

1. Visit ICICI Bank's Website: Go to the ICICI Bank’s online portal.

2. Find Business Loans: Look for "Business Loans" under loan products.

3. Check Eligibility: Use a loan calculator to check if you qualify.

4. Fill the Application: Furnish business details, loan amount, and the repayment timeframe.

5. Upload Documents: Upload scanned documents like business registration, KYC, financials, and bank statements.

6. Loan Assessment: ICICI Bank will assess your application.

7. Verification: The bank may contact you for more information or verification.

7. Approval and Disbursement: If approved, you'll get an offer letter and the loan will be disbursed to your account.

Offline Application Process

1. Visit a Branch: Make your way to the closest ICICI Bank branch.

2. Get Application Form: Ask for the ICICI bank business loan application form.

3. Eligibility Check: A bank representative will assess your eligibility.

4. Fill the Application: Complete the form with business and financial details.

5. Submit Documents: Submit physical documents like business registration, KYC, financials, and bank statements.

6. Loan Assessment and Verification: ICICI Bank will assess your application and may conduct a site visit.

7. Approval and Offer Letter: If approved, you'll get an offer letter with loan terms.

8. Sign Loan Agreement: Sign the loan agreement at the branch.

9. Disbursement: The approved loan amount will be deposited into your account.

ICICI Bank Business Loan Repayment Schedule

Repayment Options:

  • Equated Monthly Installments (EMIs): Fixed monthly payments of principal and interest.
  • Loan tenure: 12 months to 5 years.
  • The loan amount, tenure, and interest rate affect the EMI amount.
  • Bullet Repayment: Pay interest periodically and the entire principal at the end of the loan term.
  • Suitable for short-term loans or large loan amounts.
  • Step-Up Repayment: EMIs start low and increase gradually over time.
  • Useful for businesses with growing income.

Prepayment and Foreclosure:

  • Prepayment: You may pay off a portion of the loan prior to the end of the term. A fee may apply.
  • Foreclosure: You can pay the entire remaining loan amount before the end of the term. A fee may apply.

ICICI Bank Business Loan Status Check

Online Methods:

ICICI Bank Net Banking:

  • Log in to your Net Banking account.
  • Go to the "Loans" section.
  • Select "Loan Status" or "Track Loan Application."
  • Enter your loan reference or application number.
  • View the current status.

ICICI Bank Mobile Banking App:

  • Log in to the app.
  • Go to the "Loans" section.
  • Select "Track Loan Application" or check existing loan details.
  • Enter your application number.

ICICI Bank Website Loan Tracker:

  • Go to the ICICI Bank Loan Tracker page.
  • Enter your application reference number and other details.
  • Track your loan application status.

Offline Methods:

Call ICICI Bank Customer Care:

  • Call 1860 120 7777 (general) or 1860 120 6699 (NRI).
  • Have your loan application number, PAN, or customer ID ready.

Visit an ICICI Bank Branch:

  • Ensure you have your loan application reference number or loan account number along with your KYC documents.
  • Talk to a bank representative to check your loan status.

ICICI Bank Business Loan Prepayment Charges

Type of ChargeTypically ChargedFactors Affecting Charges

Prepayment Fee (Term Loans)

2-3% of outstanding principal

Loan type, interest rate, loan agreement

Prepayment Fee (Working Capital Loans)

1-2% of outstanding principal

Loan type, loan agreement

Foreclosure Fee

2-4% of outstanding principal

Loan type, loan agreement

ICICI Bank Business Loan for Women

ICICI Bank provides various loan options specifically tailored for women entrepreneurs. These include:

1. ICICI Bank Business Loan for Women Entrepreneurs:

  • Purpose: To support small and medium-sized businesses run by women.
  • Loan Amount: ₹50,000 to ₹50 lakh+
  • Tenure: 12 months to 5 years
  • Interest Rate: Competitive rates, often lower than standard rates.

2. ICICI Bank SME Loan for Women:

  • Purpose: To support small and medium enterprises (SMEs) run by women.
  • Loan Amount: ₹1 lakh to ₹2 crore
  • Eligibility: Business must be operational for 2+ years with a good credit history.

3. ICICI Bank Business Loan for Women (Micro and Small Enterprises):

  • Purpose: To support micro and small businesses run by women.
  • Focus: Providing capital for business growth, expansion, and investments.

ICICI Bank Business Loan Amount

The ICICI Bank Business Loan amount can vary depending on the type of loan you are applying for, the purpose of the loan, your eligibility, and the business's financial health. Here’s an overview of the loan amounts available through ICICI Bank for different types of business loans:

Loan TypeLoan AmountPurpose

Business Loan for SMEs

₹50,000 to ₹50 lakh+

Working capital, expansion, buying equipment

Business Loan for Women Entrepreneurs

₹50,000 to ₹50 lakh

Business expansion, equipment purchase, working capital

Working Capital Loan

₹1 lakh to ₹50 lakh

Daily business operations, inventory, salaries

Business Loan for Professionals

₹1 lakh to ₹20 lakh

Business expansion, infrastructure, new setups

SME Loan

₹1 lakh to ₹2 crore

Business growth, machinery, infrastructure, working capital

Equipment/Machinery Loan

₹1 lakh to ₹50 lakh

Buying new or replacing old equipment

ICICI Bank Business Loan Offers

ICICI Bank offers a variety of business loans designed to cater to the needs of small, medium, and large businesses. These loans provide financial support for working capital, business expansion, infrastructure development, equipment purchase, and more. Here are the main business loan offers available from ICICI Bank:

Loan TypePurposeKey Features

Business Loan

Working capital, infrastructure, operational needs

₹50,000 to ₹50 lakh+, flexible tenure, competitive rates, often no collateral

Working Capital Loan

Short-term operational needs (inventory, salaries)

₹1 lakh to ₹50 lakh, short-term tenure, variable rates, often no collateral

SME Loan

Business growth, expansion, equipment purchase

₹1 lakh to ₹2 crore, flexible tenure, competitive rates, often no collateral

Business Loan for Women Entrepreneurs

Supporting women-led businesses

₹50,000 to ₹50 lakh, lower interest rates, flexible repayment, often no collateral

Equipment/Machinery Loan

Purchasing or upgrading equipment

₹1 lakh to ₹50 lakh, tenure based on equipment life, competitive rates, equipment as collateral

Business Loan for Professionals

Business expansion, infrastructure, new setups

₹1 lakh to ₹20 lakh, adjustable tenure, competitive rates, unsecured

Franchise Loan

Starting or expanding a franchise

₹5 lakh to ₹50 lakh+, flexible tenure, attractive rates, based on franchise brand and applicant's profile

Trade Finance Loans

Import/export activities

Based on trade needs, short-term tenure, competitive rates, for businesses involved in international trade

Cash Credit/Overdraft

Flexible working capital

Up to ₹50 lakh+, interest on drawn amount, for businesses with healthy financials

Loan Against Property

Business expansion, capital needs

Up to 80% of property value, up to 10 years, competitive rates, property as collateral

ICICI Bank Business Loan Calculator

For example, if you borrow ₹1,500,000 for 5 years at a 15% interest rate, your monthly payment (EMI) would be ₹35,685.9. Over the 5 years, you'll pay ₹6,41,094 in total interest, making your total payment ₹21,41,094.

If you wish to calculate your EMI according to your loan amount, you can do it here: Loan Calculator

FAQs – ICICI Bank Business Loans

1. What is the maximum loan amount offered by ICICI Bank for business loans?

ICICI Bank offers business loans up to INR 2 Crore depending on the type of loan and eligibility.

2. What is the interest rate for ICICI Bank business loans?

The interest rate is based on your business financials, loan amount, and tenure, starting from Repo Rate + 6.0%.

3. What is the processing time for ICICI Bank business loan approval?

ICICI Bank offers quick approval and disbursement, with minimal paperwork for business loans.

4. What is the eligibility criteria for ICICI Bank business loans?

To be eligible, you need to be aged between 25 and 65 years, have an annual turnover of at least Rs. 15 lakh (for professionals), and maintain a positive relationship with ICICI Bank.

5. Can a startup apply for an ICICI Bank business loan?

Yes, ICICI Bank offers loans for startups under its iStartup 2.0 initiative, with loan amounts ranging from ₹1 lakh to ₹40 lakh.

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

Required documents include PAN Card, identity proof, address proof, financial statements, and business registration documents.

7. Is collateral required for ICICI Bank business loans?

Many ICICI Bank business loans, especially for startups, do not require collateral or guarantors.

Disclaimer: This page includes information that has been compiled from many sources and is only offered for informational purposes. Since this type of data might change over time, we cannot guarantee that the information supplied or included within it is accurate. It is anticipated that the user would confirm with the relevant source prior to taking any choices or actions.

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