BENEFITS OF ICICI BANK BUSINESS LOAN


No Security/Collateral Required

Maximum Tenure - 60 Months*

Simple Process And Quick Disbursement

Minimum Documentation

Attractive Interest Rates

Convenient Repayment Options

Best After Sales Service And Support

Who fits the eligibility criteria for a Business Loan?

ON WHAT BASIS BUSINESS LOAN CAN BE APPLIED ?

 

A Business Loan can be applied based on the following:

Audited financials

Banking relationship with ICICI Bank or other banks

Goods and Services Tax (GST) filed

Income Tax Returns (ITR) filed

Self-employed

Non-professionals

Traders/Retailers

Vendors

Wholesale Distributors

Manufacturers

Professionals

Chartered Accountants

Company Secretaries/Cost & Work Accountants (CWA)

Doctors

Architects.

ELIGIBLE UNDER SELF-EMPLOYED

Interest Rates

Latest Business instalment Loan Interest Rates

Particulars

Interest rates and applicable charges

Business Instalment Loan interest rates

Starting from 13.25% per annum

Loan processing charges / Origination charges (Non-refundable)

Up to 2% of the loan amount plus applicable taxes

Interest Rate Range for Business Instalment Loans for period October 2024 to December 2024:

Type Of Credit Facility

Maximum

Minimum

Mean

Business instalment Loans

19.50% per annum

13.25% per annum

16.14% per annum

 

Note:

  • It excludes subsidies, government schemes and loans disbursed under the Emergency Credit Line Guarantee Scheme (ECLGS) at the mandated interest rate of 9.25%.

  • All the above charges are exclusive of Goods & Services Tax (GST). Applicable GST, taxes and/or other statutory levies shall be levied over and above the charges levied by the Bank.

Business Installment Loan Annual Percentage Rate (APR)

The Annual Percentage Rate (APR) is a method used to compute annualised credit cost, including the Rate of Interest and Processing Fee.

The APR Calculator does not include prepayment charges, etc.

Please click here to calculate these charges and to download the APR Calculator.



 

POPULAR BUSINESS INSTALMENT LOAN FAQS