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Loan Details

Interest Rate

17% onwards

Processing Fee

Up to 2.00%

Prepayment

Charges

Up to 5.00%

Tenure

1 to 7 years

  • Eligibility Factors
  • Documents Required
  • Loan Verification Process
  • Rate of Interest

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ICICI Bank Business Loan
 
  • Age: From 25 to 65 years.
  • Credit score: 750 and above.
  • Employment: Salaried or self-employed
  • Income: ₹ 60,00,000 turnover for business and INR 15 lakh for salaried.
  • Work experience: For salaried- 2 years of job stability and For
    self-employed- 3 years of business stability 

 


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All the applicants are required to submit the below-listed documents with ICICI Bank -


  • Filled up ICICI Bank business loan application form
  • Recent Photographs
  • ITR of previous 2 years
  • Proof of Identity
  • Proof of Residency
  • Proof of Signature Authenticity
  • Business Plan

Income/ Business related documents


  • Business plan
  • Proof of Business establishment
  • Proof of business continuity (Bank Statement, ITR, Certificate of Incorporation, Sales Tax Challan etc.)
  • C.A. Certified Financial documents (Profit and Loss Statements, Balance Sheet, Periodic Stock, Creditor’s Statement etc.)

Proof of Residential Address (for all borrowers)


  • Utility Bill
  • Receipt of Property Tax
  • Approved Building Plan
  • Valid Passport
  • Voter ID
  • Registered Rent Agreement

Birth Date Proof (for all borrowers)


  • Driving License
  • Valid Passport
  • Voter ID
  • Aadhar Card

Property documents (for all borrowers)


  • Registered Sale Deed
  • Lease Deed
  • Conveyance
  • Past Sale Deeds
  • Receipt of House Tax Return
  • Building Plan approved by Municipal Corporation



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The loan verification process involves:


  • Complete the application form and upload it on the official website. Submit copies of all the documents needed for the application verification. It can be done by signing up on Apnapaisa.com.
  • Our representative will get back to you within 1 day and schedule visits for collecting the document copies.
  • The officials will verify the documents. They may visit the property if necessary.
  • Once your application is approved, the loan amount will be credited to your account, and you will get a copy containing all the details of loan interest, repayment tenure and so on.



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ICICI Bank provides business loans at an interest rate of 16.49% onwards.