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ICICI Business Loan ka Saral Tarika : Apply ICICI Bank Loan India 2021

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If your dreams aren’t dreams, but your passion, then you must effort harder to achieve them .

Business at any point of time requires finance either to finance the working capital needs , fixed capital purchasing or for normal wears and tears of the plant and machinery or regular working of the entity . A business is not only governed by the mindset of the person iniating the business but also by his ability to manage its funds and made the appropriate funds available at the right time . If your business is on its peak stage and you are looking for funds and don’t want to share or make some new association in your profits then taking a business loan for your business expansion is the only appropriate and possible way to raise finance . You need funds either to draft a new plant layout , to hire some more professionals to take care of your business or to either include a product line in your business.

Business loan is among  the most demanded credit products of a financial institutions , as it provides a boom to the business sector of India . If you want to apply for a business loan , then in this post you will get to know in detail how you can avail a unsecured business loan from ICICI Bank .

ICICI Bank Business Loan –  Application and Eligibility 

Being the most trusted bank after State Bank of India , ICICI Bank has always been in news due to its fair credit policies and the lowest credit rates in the industry . With over 50 million active banking customers in India , ICICI Bank has kept its customer requirement at its priority. With applying ICICI Business loan , you shall be provided loan for a minimum period of 12 months upto a maximum of 84 months . Also the applicable interest rate chargeable on ICICI Bank Business loan has been defined to be within 12% to 14% .which is lowest in the industry .

To check whether you can apply for a ICICI Bank Business loan or not you can visit official website of ICICI Bank and go to the loan section , where by entering dew details you can check your eligibility for the loan.

ICICI Bank Business Loan – Documents for Application 

ICICI Bank Business Loan is available to both its banking or non banking customers and can be availed any time for business expansion or improvement purposes . ICICI specificially categorises its business loans into multiple variants like Business loan for expansion , Business loan for purchasing new machinery , Business loan for stock purchase , Business loan for repairs and renewals etc. Depending on the nature and type of requirements , the bank ask for certain documents . To avail ICICI BANK Business loan , the following basic documents have to be submitted to the bank :

.1. KYC Documents of the Business including all registrations in name of business.

2. KYC Documents of the Business owners including Aadhaar and PAN and Passport size photos

3. Income Tax Returns and Audited Statements of Business is available .

4. Project Report of the purpose for which the loan is to be applied.

5. Business Registered Office Proof

All above documents and certain documents related to property holding of owners and the business is to be sufficed to the bank officials for approval of loan.

ICICI Bank Business Loan – Terms and Condition 

ICICI Bank Business Loan can be availed by running businesses only as it is an unsecured loan . For businesses with a minimum work period of less than 3 years would not be permitted to avail bank loan as the owners shall have to pledge some security to the bank to avail loan in such conditions .

No Business loan shall be granted to an entity , if any of the person belonging to such entity has a crime history or has defaulted some other loan in any other bank branch or bank of other company.

Things to Know !

To apply ICICI Business loan , you have to register your business at priority and your business financials shall be ideal for the banks for deciding whether to issue loan to the entity or not .

ICICI Business loan can be applied only by the registered and working partners in the entity and not by the sleeping or dormant partners in the company or in the business .

Hope , you find this post informative and interesting . In this post , we have tried to provide you more information about ICICI Bank Business loan. If you have any queries related to this post , then you can share your feedback comments down in the comment section or you can share your feedback though our contact us page.

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