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ICICI Bank Business Loan

Are you struggling hard to get funds for the growth of your business? If yes, then ICICI Business Loan is there to meet your heavy fund requirements for the growth as well as the establishment of your business. ICICI provides the business loan in big amounts at affordable rates and helps you meet the planned as well as unplanned expenditure of your business.

The entire loan process is completed online, so you need not travel to the bank or stand in a queue to get your business loan approved. Numerous special loan schemes, discounted rates and other facilities make the ICICI Bank Business Loan the best option for you. Get instant funds with ICICI and take your business to new heights of success.

Apply Business Loan

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Reasons to Apply for ICICI Business Loan

ICIC Bank offers collateral-free business loans which means you do not require any security or guarantor in order to get your loan approved. In addition, there are multiple other benefits associated with ICICI Business Loan; take a look:-

  • Multiple types of business loans
  • Loan processing charges start from 0.99%
  • Easy loan application process
  • Funds available up to 40lac
  • Long repayment tenure up to 60 months
  • Instant disbursal of funds within 2 days
  • Various loan schemes
  • Business loan available to medium and small enterprises
  • Basic eligibility criteria

ICICI Bank Business Loan Interest Rate

The rate of interest will range from 10.99% to 17.99% p.a. It will depend on the customer’s credit score, credit history and the relationship with the bank, and finally the bank’s internal policies.

Salaried Individual

Loan Amount

Starting From Rs. 50,000 up to Rs. 25 lakhs

Interest Rate

10.99% to 17.99%

Processing Fee

From Rs. 999/- Up to 2.0% of the loan amount and applicable Service Tax

Loan Tenure

1 to 5 years

Age

23 years up to 58 years

Prepayment Charges

Up to 5% per annum of principal outstanding plus service tax

Check the Key Features of ICICI Business Loan

ICICI Bank has always provided its customers with best loan options. It offers multiple financial products and service to customers in order to meet the highly varying loan requirements of borrowers. ICICI Bank Business Loan is available at highly competitive interest rates, thus you can easily get a customized loan at affordable prices.

The tailor-made loan option allows you to get the loan in accordance with your business needs. With ICICI, you enjoy the maximum value of your loan and get numerous other benefits. Let’s have a look at the key features of the ICICI Business Loan:-

Different types of business loan

ICICI Bank offers different types of business loans to suit the varying requirement of customers.

Apply in a click

You can easily apply for ICICI Business Loan in just a few clicks as you only need to fill an online loan application form which requires some basic details.

Loan processing fee

The loan processing fee charged by the bank starts just from 0.99% and goes up to 2% only.

Funds available in high quantum

ICICI Bank provides funds in high quantum which range up to 40lac. So, you can instantly get huge funds to meet your urgent business needs.

Multiple loan schemes

The bank offers multiple loan schemes which provide the borrowers with numerous other benefits apart from the low interest rates. These schemes are introduced from time to time to help borrowers meet their monetary demands easily.

Instant funds

The loan process with ICICI Bank is too fast and easy. Your loan application is approved in a short span of a few days only and the loan amount is made available within 2 days after the approval of the loan.

Easy Documentation

Document submission, as well as verification, is completed in minutes with ICICI Bank. You can easily submit the digital copy of your documents and get them verified online in minutes.

Flexible tenure of repayment

You can easily repay your loan in monthly installments and you can keep these installments as low as you want. The repayment tenure can be extended up to 60 months, so repay the loan as per your convenience.

Loan available for all

ICICI Bank offers loan to almost every borrower. There is no such specification but there are some simple criteria which every borrower should meet in order to apply for the loan.

ICICI Bank Business Loan Fees and Charges

Processing Fees ICICI Bank charges a processing fee of 0.25% to 1.50%; Rs. 999 of loan amount with applicable service tax.
Foreclosure Charges In case you want to repay your entire loan amount before the loan period ends. ICICI Bank allows prepayment of personal loan after paying 6 EMI’s with 5% prepayment charges applicable.
Eligibility Criteria

Are you Eligible for ICICI Bank Business Loan?

Every bank has certain eligibility criteria and you must meet all the requirements in order to apply for the loan. The eligibility parameters vary from bank to bank and are widely dependent upon the type of loan you are applying. Let’s know the eligibility criteria for ICICI Bank Business Loan:-

  1. You should be 21 years of age at the time of loan application and maximum 65 years of age at maturity of the loan.

  2. You should either be running a Private Limited Company, Partnership firm or a Sole-proprietary firm.

  3. You revenue or income from the business should meet the minimum annual income requirement of the bank.

  4. You should have 5 years of experience in your current business and must be running a profitable business for at least 3 years. If you are self-employed professional then you must have 4 years of experience.

Essential Documents for ICICI Business Loan

The process of documentation is an eminent part of the loan process, so you need to provide some essential documents for the instant approval of your business loan. Below given is the list of essential documents required for the approval of ICICI Business Loan; take a look:-

  • Application form – You must provide a duly filled application form with a passport size photograph.

  • KYC Documents – Passport/Driving Licence/Aadhaar Card/ID Card

  • Income Documents– A copy of ITR with latest Balance sheet and Profit and Loss documents

  • PAN Card – A Copy of PAN Card for Firm/Individual/Company is required to be submitted

  • Proof of Business Continuity – Statement of Bank/Copy of ITR/Certificate of Incorporation/Sales Tax Challans

Documents Required

Benefits of Applying for ICICI Business Loan at Rupee Station

You can apply for ICICI Bank Business Loan in just a few clicks at Rupee Station and avail the best loan schemes. ICICI Bank has an exclusive collaboration with Rupee Station, so you can instantly get a high quantum loan at lowest interest rates. Our aim is to make the entire loan process hassle-free and paperless. Rupee Station is a one-stop platform for all types of loan at lowest interest rates. In addition, Rupee Station offers multiple benefits, have a look at some of them:-

Tailor-made loan options

Rupee Station aims at providing you the best loan match, and thus we provide customized loan options which are specially provided to suit your requirements.

Apply in just a few minutes

Applying for the loan has become very handy with Rupee Station as you only need to fill your basic details such as name, email id, salary etc. in our digital loan application form.

Instant availability of loan

We make the loan instantly available to the borrowers within 2 days only in order to help them meet their instant fund requirements.

Know the status of your loan application

With us, you can easily know the progress of your application as well as the time required for the approval and disbursal of funds as we offer real-time application tracking facility.

Customer help services

To guide you with the loan process and provide you a detailed knowledge of the business loan, we offer instant customer support. We have a dedicated customer support team which is always ready to resolve your doubts and query.

Process to Apply for a Loan at Rupee Station

If you are willing to apply for the loan at Rupee Station then just follow the 3 simple step listed below, and enjoy instant loans –

Step 1

Submit your details just by filling an online loan application form.

Step 2

Your application will be seen by our financial experts who will get in touch with you to get other information.

Step 3

Receive the loan amount in your account within 2 days.