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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

Traders/Retailers

Traders/Retailers

Manufacturers

Manufacturers

Vendors

Vendors

Wholesalers & Distributors

Wholesalers & Distributors

Doctors

Doctors

Architects

Architects

Chartered Accountants

Chartered Accountants

Company Secretary/ Cost and Work Accountant (CWA)

Company Secretary/ Cost and Work Accountant (CWA)

Pre Closure Or Pre-Payment Of Business Loans
Pre Closure Or Pre-Payment Of Business Loans

You can pre-close or pre-pay your Business Loan by paying the applicable pre-closure charges after the 1st EMI payment. Currently, the applicable pre-closure charge is <3>% of the outstanding loan amount (plus applicable tax). After paying <12> EMIs, the charges are NIL. Loans classified under Micro and Small Enterprises (MSE) can also pre-close the loan after the 1st EMI payment with NIL charges.

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 January 2025 to March 2025:

Type Of Credit Facility

Maximum

Minimum

Mean

Business instalment Loans

19.50% per annum

13.25% per annum

15.98% 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.

 Apply now 



 

POPULAR BUSINESS INSTALMENT LOAN FAQS

The minimum business vintage* required under a BIL is <5> years. *Business vintage describes how long your business has been operational and when it was registered.

The minimum business vintage required under BIL is 5 years.

There are different criteria that decide one’s eligibility for a Business Instalment Loan. You can check your eligibility below:

CHECK YOUR ELIGIBILITY

A Business Instalment Loan is an unsecured loan which is provided to a self-employed individual and/or entity. It can be applied for any business upgrade or equipment purchase, which is repaid in equal instalments at fixed intervals (mostly monthly).

Yes. ICICI Bank offers a facility where in both partners can together apply for ICICI Bank Business Instalment Loan.

  1. Doctor: 60 Months
  2. Professional (CA, CS, CWA and Architect): 48 Months
  3. Other: 36 Months

 

To check the maximum tenure under BIL, please CLICK HERE

  1. Proprietorship Firm
  2. Partnership Firms/Limited Liability Partnerships (LLPs)
  3. Private Limited Companies.