BENEFITS OF ICICI BANK BUSINESS LOAN
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:
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.
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