How To Apply for Business Loan In ICICI Bank – In today’s time, many people want to do their own business, but due to the lack of budget, their dream remains incomplete. If you also want to start a business of your own and you are short of money, then now you do not need to worry at all because ICICI Bank provides business loans on easy installments and at a low annual interest rate.
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If you want to get information about taking a business loan from ICICI Bank, then this post can be beneficial for you because, in this article, we will tell you how to take a loan from ICICI Bank. Going to give information about it, along with this, we will also provide you with information about the required documents and other important aspects related to it.
How much business loan can one get from ICICI Bank?
If you like to start a business or company of your own, then ICICI Bank helps you a lot with this. Through ICICI Bank, you can easily get a business loan from ₹ 3,00,000 to ₹ 40,00,000. However, the bank determines the loan amount only after seeing your eligibility.
For what tenure can one get a business loan from ICICI Bank?
If you want to take a business loan from ICICI Bank, then for your information, let us tell you that a business loan is provided here for a period ranging from 12 months to 72 months. However, it depends on the loan amount and your ability to repay the loan.
What is the annual interest charged for taking a business loan from ICICI Bank?
ICICI Bank can provide you with business loans at an interest rate of 12% to 13% per annum. However, the annual interest rate of a business loan also depends on your income and credit score. For more information about Rates and Charges, click on the link given below.
https://www.icicibank.com/business-banking/finance/loans-charges-applicable.page?#toptitle
What are the documents required for helping business loans from ICICI Bank?
If you are thinking of taking a business loan from ICICI Bank, then it is very important for you to have the following documents.
KYC Documents: ICICI Bank asks for documents related to ID proof and residence proof as KYC documents while giving you a loan.
As ID Proof, you can give any one of the documents like an Aadhar Card, Ration Card, Voter ID Card, PAN Card, Passport, Government Recognized, Identity Card, etc.
Apart from this, for Residence Proof, you can give Aadhar Card, Voter ID Card, Ration Card, Residence Certificate, Passport, or any other government-recognized document.
Financial Documents: It is very important for you to have financial documents to get a business loan from ICICI Bank. For this, you can give your ITR for the last three years. Because through this ITR, the amount of your business loan will be determined.
Bank Account Statement: While applying for a business loan, you are required to provide the bank account statement of the last six months. You will have to give the bank account statement of the bank from which you want to get the loan amount.
Business Registration Documents: While taking a business loan, you must have all types of documents related to business registration. Along with this, you also need to have a GST certificate.
For more information about the documents required for a business loan by ICICI Bank, click the link below.
https://www.icicibank.com/business-banking/finance/documents-required.page?#toptitle
Who can get a business loan from ICICI Bank?
For your information, let us tell you that ICICI Bank can provide a business loan to any person between 21 years to 65 years. You can also check your eligibility by visiting the official loan website of ICICI Bank. For this, you click on the link given below.
https://www.icicibank.com/business-banking/finance/eligibility-calculator.page?#toptitle
How to take Business Loan from ICICI Bank?
If you want to apply online to get a business loan from ICICI Bank, then follow the step-by-step process given below.
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- First of all, visit the ICICI Bank website. Or you can go directly to the loan section by clicking on the given link: https://www.icicibank.com/business-banking/finance/index.page
- After this, you have to select the option of Business Loan and click on Apply Online button. Apart from this, you can directly open the ICICI Bank Business Loan application form by clicking on this link: https://www.icicibank.com/business-banking/apply-online.page
- After this, you will be asked for some of your personal information and financial information, and you have to fill it out without errors. Apart from this, upload whatever necessary documents are requested from you.
- If the information given by you is seen to be correct and you are found eligible as per the terms and conditions made for the business loan by ICICI Bank, then the loan amount will be instantly transferred to your bank account.