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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 CAN BE FUNDED UNDER BUSINESS LOAN?

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

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 (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.

 

POPULAR BUSINESS INSTALMENT LOAN FAQS

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.

  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 Firm/ LLP
  3. Private Limited Company