ICICI Bank Business Loan Apply Online 2025
ICICI Bank provides secured and unsecured business loans to self-employed and enterprises. With loan options extending up to ₹15 lakhs*, these offerings aid both corporate entities and SMEs in commencing new ventures or enhancing and growing existing businesses. Aditya Birla provides business loans to manufacturers, traders, chartered accountants, and doctors, along with offerings like Aditya Birla term loans and working capital loans specifically designed for SMEs.
ICICI Bank Business Loan Details
| Interest rate | 10.50% to 17.00% p.a. onwards |
| Applicant type | Individual, Proprietorship, Partnership Firm/LLP/Pvt Ltd Company. |
| Eligibility Age | The applicant must be a minimum of 21 years old and should not exceed 65 years of age. |
| Income | A minimum annual income of ₹1,50,000 is required to qualify for the business loans |
| Business turnover | An entity must maintain a minimum business turnover of ₹40 lakhs to qualify for the loan. |
| Business existence | Individuals seeking these loans must have a minimum tenure of 3 years in their current business and a total business experience of at least 5 years. |
| Processing Fees | Up to 2.00% of loan amount. |
| Tenure | 12 to 36 months |
ICICI Bank Business Loan Interest Rate
Here are the specific interest rates offered by ICICI Bank Business Loans vary from 10.50% to 17.00%* per annum for its business loan products.
| Interest Rate | 10.50% - 17.00% |
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Eligibility Criteria for ICICI Bank Business Loan
- Applicants must be at least 21 years old and not exceed 65 years at the loan maturity date.
- Entities seeking eligibility for business loans should maintain a minimum business turnover of Rs. 40 lakhs.
- Aditya Birla mandates a minimum annual income of Rs. 1,50,000 per annum for applicants to qualify for the loan.
- Applicants need a minimum of 3 years' tenure in their current business.
- Businesses showing profitability for the past 2 consecutive years are eligible.
- A total business experience of at least 5 years is required.
Documents Required for ICICI Bank Business Loan
Following is the list of documents required by the Bank to apply for Business loans.
- PAN Card for both firms and individuals is mandatory.
- Aadhaar Card, Passport, Voter’s ID, PAN Card, or Driving License can be used as Identity proof.
- Address proof is acceptable in the form of an Aadhaar Card, Passport, Voter’s ID, or Driving License.
- Bank Statements covering the last 6 months are required.
- Audited Balance Sheet and Profit and Loss Statement for the preceding 2 years (audited or certified by a Chartered Accountant) along with the latest Income Tax Return (ITR) and Computation of Income need to be submitted.
- Proof of business continuity documents such as ITR, Trade License, Establishment Certificate, or Sales Tax Certificate are required.
Other Mandatory documents:
- Sole Proprietorship Declaration document.
- Certified copy of the Partnership Deed.
- A Certified True Copy of the Memorandum and Articles of Association (certified by a Director) and the original Board Resolution.
Comparison of Business Loan Interest Rates of ICICI Bank with other Banks/NBFCs
The interest rate for ICICI Bank business loan starts from 14.00%* p.a, but it's subject to change based on individual profiles. Mentioned Banks below adjust their rates to RBI guidelines, so staying informed about these updates is wise. If keeping up with the news isn't your thing, We're here to assist! Follow this page for the latest business loan interest rates for the ongoing year.
| Bank Name | Interest Rate Range | Loan Amount | Tenure | Processing Fees |
|---|---|---|---|---|
| HDFC Business Loan | 10.50% to 22.50 | 75.00 | 1.00% to 5.00 | 0.00% to 5.00 |
| AXIS Business Loan | 15.50% to 18.30 | 75.00 | 6.00% to 60.00 | 0.25% to 2.00 |
| ICICI Business Loan | 10.50% to 17.00 | 2.00 | 0.00% to 7.00 | 0.00% to 2.00 |
| Kotak Business Loan | 16.50% to 18.30 | 1.00 | 0.00% to 60.00 | 0.25% to 2.00 |
| Standard Chartered Business Loan | 14.50% to 18.30 | 1.00 | 0.00% to 5.00 | 0.00% to 2.00 |
| Bajaj Finserv Business Loan | 9.75% to 25.00 | 55.00 | 0.00% to 8.00 | 0.00% to 3.54 |
| SBI Business Loan | 15.50% to 18.30 | 1.00 | 12.00% to 60.00 | 1.00% to 2.70 |
| IDFC Business Loan | 15.50% to 0.00 | 1.00 | 12.00% to 18.00 | 1.25% to 3.50 |
| Tata Capital Business Loan | 12.00% to 18.30 | 2.00 | 12.00% to 36.00 | 1.00% to 2.75 |
| YES Business Loan | 10.25% to 15.00 | 1.50 | 1.00% to 5.00 | 1.00% to 2.00 |
| BOB Business Loan | 10.25% to 15.00 | 50.00 | 1.00% to 5.00 | 0.75% to 1.00 |
| PNB Business Loan | 10.25% to 15.00 | 10.00 | 1.00% to 5.00 | 0.00% to 3.00 |
| IndusInd Business Loan | 10.25% to 15.00 | 10.00 | 1.00% to 5.00 | 0.00% to 3.00 |
| Aditya Birla Business Loan | 10.25% to 15.00 | 15.00 | 1.00% to 5.00 | 1.00% to 2.00 |
| Incred Business Loan | 10.25% to 15.00 | 10.00 | 1.00% to 5.00 | 2.00% to 5.00 |
| Poonawalla Business Loan | 10.25% to 15.00 | 50.00 | 1.00% to 5.00 | 1.00% to 3.00 |
| Piramal Business Loan | 10.25% to 15.00 | 25.00 | 1.00% to 5.00 | 1.00% to 3.00 |
* Note: Wherever the details regarding interest rates, processing fee and the tenure are mentioned, they may differ as per the lenders' discretion. The actual eligibility will be determined based on the borrowers' risk profile during the loan application process.
Fees and Other Charges of ICICI Bank Business Loan
| Stamp Duty | As per the laws of the state |
| Loan cancellation charges | Nil (Interest for the interim period will be charged) |
| Credit assessment charges | NA |
| Amortisation Schedule Charges | ₹200 |
| Cheque bounce charges |
|
| Overdue EMI interest | Up to 2% per month. |
| Processing Fees | Up to 2.00% on the Loan amount. |
Features and Benefits of the ICICI Bank Business Loan
- Borrowers can avail loan amounts from Rs 15 lakhs and above.
- Enjoy a flexible repayment tenure from 12 to 36 months.
- Get dropline facilities ranging from Rs 5 lakh to 15 lakh*.
- The processing fee of a business loan may start from NaN% .
- Benefit from a competitive and affordable interest rate at 14.00%*.
* Note: Wherever the details regarding interest rates, processing fees and tenure are mentioned, they may differ as per the lenders' discretion. The actual eligibility will be determined based on the borrowers' risk profile during the loan application process.