ICICI Bank Business Loan

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ICICI Bank Business Loan

ICICI bank Business loan is one of the best ways to finance your business needs. To run a business, funds are the most important. Furthermore timely finance makes the most of business opportunities for SMEs. The new package of business loans from ICICI Bank keeps this in mind. The bank is a popular private sector bank in India. ask loan baba provides all the information about ICICI Bank Business Loans: ICICI bank EMI calculator, business loans interest rates in ICICI bank, ICICI business loan eligibility and more. You can apply business loan online at our website.

At our website, you can check ICICI Bank business loan eligibility and ICICI Bank EMI calculator for free. Stay updated on this page, Ask loan baba provides all the information about ICICI Bank business loans:

ICICI Bank Business Loan Details Updated on 24th October 2019
Loan Amount Up to Rs. 40 lakhs
Loan Tenure 12 months to 60 months
Interest Rate 12.90% to 16.65%

Why Apply for ICICI Bank Business Loan?

  • The advantage of this loan is its same interest throughout the duration.
  • Simple documentation is needed and the business loan in ICICI Bank then gets processed faster.
  • The customers can pay off the loan in easy instalments every month and can repay it via auto debit or PDC or ECS.
  • You can check out ICICI Bank business loan eligibility and ICICI Bank Business Loan EMI calculator at Ask loan baba.

Features of Business Loans at ICICI Bank

The following key points will help you understand the features and benefits of the business loans ICICI Bank:

Business Loan ICICI Bank Term Loan

  • It is profitable for everyone and the Bank will look after your needs regarding daily operating expenses.
  • It finances a wide range of activities- Manufacturing, Trading, Wholesale, and Service Industries.
  • The bank provides cash credit export credit, overdraft of a minimum period of 1 year for traders, manufacturers, service providers.
  • Maximum period is 7 years.

Collateral Free Business Loan ICICI Bank

  • SBL- Signature loan facility up to Rupees 25 Lakh is provided to existing Bank customers of India.
  • CGTMSE- Term loans and Cash credits are available under this scheme till Rupees 1 Crore.

Past Dealings based Business Loans

  • Up to Rupees 50 Lakh loan available, based on past performances, through non-fund centred facilities and overdraft.
  • Audited financials are not required.
  • 3 years of minimum time period.

Why Apply for Business Loan on Ask loan baba?

At Ask loan baba, you can compare and apply for business loans online. You can check out several loans for business and go through their features such as quantum of loan, amount of loan, processing fees, interest rates, and other conditions, on a single platform. The loan application process is simple and easy, as you can upload all the required documents online. Disbursal is done at the soonest, and you can keep a track of your loan application on the website.

ICICI Bank Business Loan Interest Rates

The ICICI Bank business loan interest rate is:

  • Secured facilities: maximum I-MCLR-6M+4.75%
  • Facilities backed by CGTMSE: maximumI-MCLR-6M + 4.0%
  • Unsecured facilities: maximum I-MCLR-6M + 8.50%

But the rate of interest varies as per individual profile. Keep a check on this page to note the updated ICICI Bank business loan interest rate for the current year.

ICICI Bank Business Loan Eligibility Calculator

Business loan eligibility may differ from one candidate to another. You can also use free-of-cost business loan ICICI Bank loan eligibility calculator at Ask loan baba. The eligibility criteria for loan for business are discussed below:

  • The applicant for business loan ICICI Bank needs to meet the age requirement and possess all necessary identity and profit/revenue proof etc required applying for the loan.
  • He/she meet the requirement for company credit score and should not be under too many debts.

Types of ICICI Bank Business Loans

ICICI Bank has business loan schemes for all kinds of professionals. The amount taken as loan can be used for either multiple or specific purposes.