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ICICI Bank Business Loan

ICICI bank is one of the largest banks to offer an array of financial services and products in the country. One of the products offered by ICICI bank is business loan. ICICI bank business loan eradicates the gap between you and your dream to start or expand your business. The bank brings a platter of different kinds of loans tailored to suit requirements of specific businesses. The loan amount ranges depending on the type of business one requires funds for and interest charges on this type of ICICI bank loan go up to 7.10% plus repo rate. Let us move ahead and know more about ICICI bank business loans.

ICICI Business Loan Highlights

Loan Amount

As per the bank’s discretion

Interest Charges

Up to 17% 

Processing Fees

2% of the loan amount + Applicable taxes


Up to 5 years

Prepayment Charges

2% of the principal outstanding

ICICI Bank Business Loan: Features and Benefits

Here are the features and benefits of ICICI bank business loan that you can look forward to:

  • Types of Business Loan

There are different types of ICICI bank business loans that are offered to sole proprietorship/partnership firms, private and public limited companies. So if you are a manufacturer, wholesaler/retailer, service provider or a trader, then you can count on the ICICI business loan to grow your business.

ICICI bank offers secured and unsecured business loans. The ICICI bank secured loans include term loans, working capital finance and instant secured overdraft facilities. On the other hand, ICICI unsecured business loans include instant overdraft, merchant overdraft  and savings account overdraft. 

  • Loan Amount

The loan amount offered by ICICI bank depends on the type of ICICI business loan you are applying for. The amount varies depending on the type and size of your business. Besides that, the bank takes certain factors such as your age, turnover, credit history etc. into consideration before deciding the loan amount you should be provided.

  • Interest Charges

The ICICI bank business loan interest rates range depending on the type of your business loan. The bank charges:

  • Up to 7.10% plus repo rate for secured loans
  • Up to 17% for unsecured loans

Apart from that, the lender also determines some important checkpoints such as the size of business, credit history etc. that can affect your business loan interest charges. The repayment period you choose and your relationship with the bank also determines your business loan.

  • Loan Tenure

ICICI bank business loans are offered to the customers for a flexible repayment tenure. You can choose the length of your ICICI bank business loan repayment tenure.

  • Prepayment

ICICI bank allows customers the opportunity to prepay business loans and close the loan already. If you have enough funds to repay ICICI business loan, then you can go ahead and prepay the loan. The ICICI bank business loan foreclosure does come with charges/fees which is up to the bank’s discretion.

ICICI Bank Business Loan Eligibility

You should know the eligibility criteria for ICICI business loan. It will help you now if you can go for this loan. Here is who is eligible to apply for the ICICI bank business loan:

  • Sole Proprietorship Firm, Private Limited Companies, Public Limited Companies, Partnership Firms can apply for the loan.
  • The minimum age of  individuals should at least be 21 years in order to apply for the loan.
  • The business loan applicants should not be more than 65 years.
  • The individuals must have ownership of current business for at least 3 years.

Documents Required for ICICI Bank Business Loan


Self Employed Individuals

Identity Proof

Aadhar Card, Passport, Driving Licence, Voter ID Card

Address Proof

Passport, Voter ID Card,  Recent Utility Bill such as Electricity Bill, Water Bill, Telephone Bill

Income Proof

IT returns, Bank Statements, Balance Sheet and Profit & Loss Account, Challans Showing Payment of Advance Income Tax

Other Required Documents

Certified copy of Partnership Deed, Certified copy of Memorandum & Articles of Association, Passport-size Photographs, Application Form, Proof of Continuation 

Compare Other Bank Business Loan Interest Rates



Axis Bank Business Loan 11.50% to 20%

HDFC Bank Business Loan

15.65% to 21.20%

Yes Bank Business Loan

16.25% to 19.99%

Citi Bank Business Loan

12% to 16%

RBL Bank Business Loan

10.65% to 16.25%

Indian Bank Business Loan


ICICI Bank Business Loan EMI Calculator

You can calculate the Equated Monthly installments (EMI) and know the amount you will have to pay every month for the repayment of your ICICI bank business loan. You can use beow formula to calculate your ICICI bank business loan EMI.

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]


  • EMI = Equated Monthly Installment
  • P = Principal Loan Amount
  • R = Monthly Interest Rate
  • N = Number of Monthly Installments

How to Apply for ICICI Bank Business Loan

You can apply for an ICICI bank business loan offline or online. Here is what you can do:

  • Apply for ICICI bank business loan offline

To apply for an ICICI business loan offline, you have to visit the nearest ICICI bank branch. When visiting the branch, carry all the business loan required documents. 

  • Apply for ICICI bank business loan online:

You can apply for an ICICI business loan online easily. In a few simple steps, you can submit the ICICI business loan application and to that, here are the steps that you need to follow:

  • Go to the official website of ICICI bank.
  • Click on “Business Loans”.
  • Click on the type of business loan you want to apply for.
  • Click on the “Download Application Form” button.

You can download the application form now. Make sure you fill the required details. Once you have filled the form, you have to submit the application to the bank.

FAQs On ICICI Bank Business Loan

Q.1 How can I track my ICICI business loan application?

You can use ICICI bank mobile application to track the status of your business loan application. You can also contact the ICICI bank customer service to enquire about the loan application status.

Apart from that, you can track the status of your business loan application on the official website of the bank. Here is what you can do to track ICICI business loan application status:

  • Go to the ICICI bank official website.
  • Click on “Business Loans”.
  • Click on the “Applications” option.
  • Click on the “Loan Application Status” option.
  • Enter the required details.
  • Hit the “Submit” button.

Q.2 Does ICICI bank accept collaterals for business loans?

You can offer commercial/ self-occupied residential/ industrial property as collateral. The bank also accepts liquid securities like Fixed Deposit as collateral for ICICI bank business loans.

Q.3 What companies are eligible for ICICI bank business loans?

  • Sole Proprietorship Firm
  • Private Limited Companies
  • Public Limited Companies
  • Partnership Firms 
Last Updated on : 07/Apr/2021

Know More About

Icici Bank Business Loan

You're eligible for a Icici Bank Business Loan if you:

Are legally adult enough to handle it

Have still got it

Get a regular pay check

Make more than a basic buck

Your eligibility depends on:

Earn more than minimum income required

Maximum allowed Business Loans is Rs. 10K to Rs. 45 lakhs

EMIs of other loans loweryour eligibility

Boost your eligibility by:

Pay off your credit card bills

Choose longer tenure loan up to 5 years

Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:

  • 1. Photo ID and age proof
  • 2. Signed application form with photograph
  • 3. Residence proof
  • 4. Last 6 months bank statement
  • 5. Documentation for salaried applicants:
    • Last 3 months salary - slips
    • Form 16 or Income Tax Returns
  • 6. Documentation for self-employed applicants:
    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Icici Bank Business Loan Interest Rates

Updated on 25 Nov 2017

Icici Bank Business Loan Details
Interest Rate (Monthly reducing balance) 0% - 0%
Processing Fees 2%
Loan Tenure Upto 5 Year year to years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Business Loans EMI Calculator

Loan Amount


Interest Rate


Loan Tenure


Your Monthly Loan EMI