BENEFITS OF ICICI BANK BUSINESS LOAN
Proprietorship Firm/ Self-Employed Nonprofessionals
Partnership Firm/ LLP & Private Limited Company
Unlisted Public Limited Company
Self-Employed Professionals And Doctors
ON WHAT BASIS BUSINESS LOAN CAN BE AVAILED?
You can pre-close or pre-pay your Business Loan (BL) by paying the applicable pre-closure charges after 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 MSE can also pre-close the loan after 1st EMI payment with NIL charges.
Yes. We offer Personal Loan for business purpose, to self-employed individuals as well. To apply for Business Loan, please visit the nearest ICICI Bank branch along with your valid ID proof.
The minimum business vintage required under BIL is 5 years.
There are different criteria based on which one’s eligibility is decided. You can check your eligibility:
CHECK YOUR ELIGIBILITY
Business Instalment loan (BIL) is an unsecured loan which is provided to a self-employed individual and entity. A business instalment loan is a business loan that can be availed 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.
- Doctor: 60 Months
- Professional (CA, CS, CWA and Architect): 48 Months
- Other: 36 Months
- Proprietorship Firm
- Partnership Firm/ LLP
- Private Limited Company