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ICICI Bank ICICI Bank

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BEST FOR

Growing your business

  • No Security Needed for Loan

  • Flexible Repayment Tenure

  • Minimal Documentation Required

  • Interest Rates from 13.25%

Eligibility Criteria for ICICI Bank Business Loan

Proprietorship Firms

Individuals running their own businesses under sole ownership are eligible to apply.

Partnership Firms & LLPs (Limited Liability Partnerships)

Registered partnerships and LLPs engaged in business activities can apply for funding.

Private Limited and Public Limited Companies

Businesses incorporated under these structures can apply for Business Loans for expansion, working capital, or other needs.

Self-Employed Professionals

Individuals like Doctors, Chartered Accountants (CA), Company Secretaries (CS), Architects, and Cost & Works Accountants (CWA) are also eligible, provided they meet the income and practice stability criteria.

FAQs

What is a Business Instalment Loan?

A Business Loan is an unsecured loan for self-employed individuals or business entities. It can be used for business upgrades or equipment purchase and is repaid in equal instalments.

What type of entities are eligible for a Business Loan?

Eligible entities include proprietorships, partnership firms, LLPs and private limited companies.

Can my partner and I apply together for ICICI Bank Business Loan?

Yes, both partners in a partnership firm can apply together for the loan.

What are the interest rates for Business Loans?

The interest rates of Business Loans start from 13.25%* per annum, with rates varying as per loan type and tenure.

What is the maximum tenure of an ICICI Bank Business Loan?

The loan tenure varies as given below:

  • 60* months for doctors

  • 48* months for professionals (CA, CS, etc.)

  • 36* months for other business types.

What is the eligibility for an ICICI Bank Business Loan?

Eligibility is based on business financials, GST filings, ITRs and the type of business. Self-employed non-professionals & professionals and entities like retailers and manufacturers can apply.

What is the minimum business vintage required to apply for an ICICI Bank Business Loan?

The minimum business vintage required is 3* years, i.e. the business should have been operational for at least 3* years.

Can I get a Personal Loan for business purposes?

No, a Business Instalment Loan (BIL) is specifically designed for business needs. Personal loans are not suitable for business financing.

 

 

 

 

 

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Working Capital Loan

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