Table of Contents
ICICI Bank Business Loan Friends, if you want to take a loan on your business and take your business to new heights, you have to invest in your business.
The complete process of CICI Business Loan and how to take ICICI Business Loan. icici business loan in Hindi icici business loan interest rate
ICICI Business Loan
Friends, as you know, ICICI Bank is one of the largest four banks in India. It has its registered office in Vadodara (Gujarat) and a registered office in Mumbai, Maharashtra. ICICI Bank provides different banking facilities to the customers, such as investment banking, insurance, business loans, home loans, personal loans, education loans, etc.
Let us tell you how to take an icici business loan interest rate 16.50% icici business loan is an unsecured loan it gives business loan to the applicants at attractive offers.
What is ICICI Business Loan?
ICICI Business Loan:- Business loan is an unsecured financial assistance given by banks and NBFCs within India. The purpose of banks is to meet the urgent needs of a growing business. Most financial institutions provide term loans and Flexi loans to meet the business needs of any company. This type of business loan is also called a commercial loan.
ICICI gives all types of business to the applicants. business loan is given to the customer on a special offer. And ICICI Bank Business Loan at 16.50% per annum interest rate for minimum 12 months and maximum 60 months, i.e., for 5 years loan amount up to Rs 40 lakhs at meager processing fee. Please read this post till the end to learn how to take Business Loan and its complete process to easily take your business loan to the heights of your business.
How much does the ICICI Business Loan amount give?
- Loan amounts of a minimum of 100000 to a maximum of 40 lakhs can be easily availed by taking an ICICI business loan
What is the ICICI Business Loan interest rate?
- Interest will be charged at 16.50% per annum on taking an ICICI business loan. On this interest icici bank gives you business loan very easily
What is the tenure of the ICICI Business Loan?
As you know that before taking a loan from any bank, you must know about its terms and conditions so that you do not face any problem in repaying the loan amount. Similarly, you also learned that on taking ICICI Business Loan, you would get interested at 16.50% per annum. After taking an icici bank business loan, it is also essential to know how much time you will get to pay back the loan amount.
- On taking an ICICI business loan, you get a minimum of 12 months to repay the loan amount and a maximum of 60 months to repay the loan amount. That is, you get 5 years to repay the business loan. Within this period, you can straightforwardly repay this business loan amount.
What is the ICICI Business Loan Processing Fee?
If you take a business loan from any bank or finance company, you will incur a loan processing charge. You have gone through this article that (icici business loan interest rate is 16.50% yearly and loan tenure is 5 years) now you will know how much will be the ICICI business loan (icici bank business loan) processing fee-
- You will be charged a processing fee of 1% or 2% of the loan amount for taking the ICICI Business Loan. This is the processing fee you have to pay while applying for the loan
What are the documents required for ICICI Business Loan?
- For Identity Proof (ID Proof)- PAN Card, Aadhar Card, Driving License, Voter ID, Passport.
- For Residence Proof (Address Proof) – Aadhar Card, Driving License, Voter ID, Passport.
- PAN card of the proprietor or firm, company.
- ITR for 2 years
- PAN Card / Form 60 for all applicants, co-applicants, guarantors.
- Audit Report
- Certificate of Establishment of Business, GST Certificate, Service Tax Certificate.
- Full details of profit and loss, balance sheet, and income tax return.
- Business profile on company letterhead.
- Check processing fee
What should be the ICICI Business Loan eligibility?
Friends, all banks have different terms and conditions, a business loan is given based on them, as you have known so far, icici bank business loan interest rate 16.50% yearly to know about all these. Similarly, now you will know what should be the eligibility to take an ICICI business loan so that you can take icici business loan –
- You must be at least 21 years of age and 65 years of age for an icici business loan.
- At least 5 years of business experience.
- Bank’s record should be good.
- The business profit of the applicant should be good.
- Your CIBIL score should be above 70%.
ICICI Business Loan Features
- No security/collateral required. One of the salient features of the ICICI Business plan is that it is a collateral-free loan. No guarantor is required for this.
- Loan Amount: – You can easily take advantage of the loan amount of at least Rs 3 lakh to 40 lakh.
- Competitive Pricing:- ICICI Bank loan amount and interest rates market value are updated with time.
- Interest Rate:- ICICI gives a competitive interest rate for the loan facility. The interest rate will be based on your business profile, financial appraisal, past track record, loan amount, and tenure appraisal.
- Tenure Rate:- Amount repayment period is from 12 months to 60 months.
How to Login to ICICI Business Loan Portal?
You have learned that the icici Business Loan interest rate is 16.50% yearly, and the period is 5 years in which you get a business loan up to 40 lakhs from this icici bank. Now you will know how to login to the icici business loan portal: Follow the steps given below to login to the icici bank business loan portal
- First of all, you go to the official website of ICICI Bank, www.icicibank.com.
- After opening the icici bank website, click on the’ login’ option on the top right corner of the home page.
- Now, you can easily log in by entering your User ID and Password.
- With the help of this portal, you can apply for any loan, that too in just 5 minutes.
How to Apply for ICICI Business Loan Online?
- First of all, go to the official website of ICICI Bank, www.icicibank.com.
- Then select the Loan option and select Business Loan.
- After that, fill out the loan application (business loan from) letter, filling in your full name, address, details of your business, and other given information carefully.
- Now upload all your documents with a business loan.
- Fill out the loan amount as required and submit the application form.
- After this, the bank will verify your documents if all the documents are correct. Then your business loan will be approved.
- Loan amount is transferred to your bank account.
ICICI business loan offline apply procedures
- If you want to apply offline for taking an ICICI business loan. It would be best to visit your nearest bank branch of ICICI Bank.
- Talk to the bank manager or loan officer about a business loan.
- After that, take the business loan application form from the bank.
- Fill out the business loan application form thoroughly, and attach all your documents with it. Submit the application form to the bank.
- After this, your documents will be verified by the bank (ICICI Bank), and if all the documents you give are found correct, then ICICI Bank will approve the business loan.
- After that, the loan amount will be transferred to your bank account
icici business loan status tracking?
- To track ICICI business loan status, you first need to visit the official website of ICICI Bank at www.icicibank.com.
- On this website, you will see a status tracking option; click on it.
- Now, the application form will open in front of you. You fill in your application number, mobile number, etc.
- Now click on submit, and you can check the status of your application
Also Read: How To Get Indian Bank Business Loan