About ICICI Business Loan
ICICI bank was developed by Industrial Credit and Investment Corporation of India as a wholly owned subsidiary in 1954. According to 2014 data, it has become India’s second largest private bank by assets.
This multinational bank and the financial company offer various products such as Credit cards, consumer banking, and mortgage loans.
For self-employed people, ICICI has a special Product “Business Loan” for all short term and long term requirements. The loan is an Unsecured Business Debt i.e. you do not need to provide any security or collateral.
Who can Apply for ICICI Business Loan?
- Service Provider
- Software Company
- IT Company
- Small Bussiness
ICICI Business Loan Interest Rates:
Linked to bank’s current base rate 9.50 %
Based upon the loan amount sanctioned.
Features of ICICI Business Loan
- Fulfilling the Investment Capital: The money is the key to the success in the businesses. Therefore, ICICI offers Cash credit and Overdraft for fulfilling working investment finance requirements.
- Anytime Help: The fund requirements in the businesses is quite uncertain. That’s why the ICICI bank exports credit to provide post and pre-shipment finances.
- Overseas Help: The bank provides you the services even overseas by assuring the foreign banks. The bank provides a letter of Credit to facilitate business.
- Guaranteed Investments: The bank is expanding itself by indulging in a lot of businesses. Therefore, it promises to help the businesses to meet the financial requirements to meet the performances.
- Finances to Purchase Assets: These bank loans can help businesses to buy valuable assets and business expansion needs.
Eligibility for ICICI Business Loan
- Self Employed People are eligible for availing ICICI Business Loan. Here are the eligibility criteria for these individuals:
- Minimum Loan amount available: Rs. 75,000
- The amount available: Rs. 30 Lacs
- Minimum Income (annual): Rs. 1, 50,000
- Minimum age: 21 Years & Maximum Age at loan maturity: 60 Years
- Minimum Turnover in Business: Rs 15 Lacs per annum
- Minimum Experience in Business: Minimum 3 years experience in the current business and total 5 years business experience. Business must be continuously making a profit from the last 2 years.
- Business should be filling 1.5 lacs to 2 Lacs ITR per annum.
Documentation for ICICI Business Loan
- Proof of Address(Ration Card/ Telephone Bill/ /Electricity Bill/ Passport)
- Bank Statements (latest 6 months bank statement /passbook)
- Latest ITR, along with computation of income
- Balance Sheet & P&L Account for the last 2 Yrs, certified by a CA
- Qualification Proof of the Highest Professional Degree
- Proof of Continuation (Trade license /Establishment /Sales Tax Certificate)
- Other Mandatory Documents (Sole Proprietorship – Declaration, Partnership – Copy of Partnership Deed, Apart from Copy of MOA, AOA & Board Resolution)
- Two passport size photographs.
- This is the best platform to apply and get all help and assistance to avail these loans, that is for free.
- The Dialabank is first India’s financial helpline, which provides the financial services to the customers all over the country.
- It provides the best service in the country by evaluating the bank’s services, not by its reputation.
- The Dialabank’s assistance advantage is that it provides the least rate of interest on the business loans in the market.
- This service also provides the documentation at the doorsteps. That means no bank visits.
- Dialabank also provides assistance for the least paperwork.
- The Dialabank has earned the reputation from the customers by helping them. The bank loans are provided directly from the banks, so there is no risk involved in the fraud.
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