Personal ›Products ›Loans › Personal Loan ›Business loans

Business Loan

Thinking of expanding your business without security/collateral?

Business Loan (BL) is collateral/security free loan which is provided to a self-employed individual and entity. Business Loan can be availed for any business upgrade or equipment purchase, which is repaid in equal instalments at fixed intervals.

Be it working capital, small equipment purchase or any other business expansion plan, we at ICICI Bank understand your financial needs and offer you specially designed Business Loan which suits your business requirements.

Apply Now KNOW YOUR ELIGIBILITY CALCULATE EMI

Benefits of ICICI Bank Business Loan

No security/collateral required
Maximum tenure - doctor 60 months, professionals - 48 months, nonprofessionals - 36 months
Simple process and quick disbursement
Minimum documentation
Attractive interest rates
Convenient repayment options
Best after sales service and support

Who can be funded under Business Loan?

Proprietorship firm/ Self-employed nonprofessionals
Partnership firm/ LLP
Private Limited Company
Unlisted Public Limited Company
Self-employed professionals and doctors

Who all are eligible under self-employed nonprofessionals?

Traders
Retailers
Manufacturers
Vendors
Wholesalers & Distributors

Who all are eligible under self-employed professionals?

Doctors
Architects
Chartered Accountants
Company Secretary/ Cost and Work Accountant (CWA)

On what basis Business Loan can be availed?

Audited financials
Banking relationship with ICICI Bank or other banks
Goods and Services Tax (GST) filed
Income Tax Returns (ITR) filed
Turnover of the business
Existing Home Loan
Existing Auto Loan

Pre closure or pre-payment of Business Loans

You can pre-close or pre-pay your Business Loan (BL) by paying the applicable pre-closure charges after payment of 12 Equated Monthly Instalment (EMI). Currently, the applicable pre-closure charge is 5% of the outstanding loan amount (plus applicable tax).

Expand All Close All

What is the loan amount that can be sanctioned?

Based on your kind of business and your relationship with ICICI Bank, the final loan amount is decided. To check your loan amount, please CLICK HERE

From which account does repayment/disbursement of Business Loan happen?

Repayment from/disbursement to be made in the applicant’s bank account which has been assessed.

Repayment from/disbursement to be made in the same account from which the existing loan Equated Monthly Instalments (EMIs) are being serviced (Home Loan (HL) Loan Against Property (LAP) and Auto Assessed Income Programme (AIP)) / rentals are being received (AIP rental incomes).

Repayment can also be made from the main account of customer which meets the banking norms as specified.

What is the minimum age at the time of loan application (for individual co-applicants and guarantors)?

Non Doctor - 28 years

Doctor - 25 years

What is the maximum age at the time of loan application (for individual co-applicants and guarantors)?

65 years

If you have an existing Home Loan or Auto Loan or current account in any bank*, then availing ICICI Bank Business Loan becomes easier. Click here to

APPLY NOW CHECK YOUR ELIGIBILITY

*T&C apply

Recommended Blogs on Personal Loan

Is a Personal Loan or a Credit Card better for travelling?

Travelling is a passion and a dream chased by many. Some are happy to do it on a smaller scale, while others aspire to explore the globe. However, taking a trip alone or with family is an expensive affair.

KNOW MORE

What is a Flexi-Personal Loan, and how does it work?

Flexi-Personal Loans have a pre-approved cash limit, enabling you to avail of immediate financial help for unplanned expenses. Read further to know what is a Flexi-Personal Loan and how it works?

KNOW MORE

Is pre-closure of a Personal Loan a good option?

Planning to make a big-ticket item purchase? Getting a Personal Loan is a quick-fix solution. For people who don't want a burden of accumulated debt can opt for pre-closure of their Personal Loan, but that calls for a penalty from the lender. Read further to know whether pre-closure of a Personal Loan is a good option or not.

KNOW MORE

View all blogs