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Thinking of expanding your business without security/collateral? Business Loan (BL) is collateral/security free loan which is provided to a self-employed individual and entity. Business Loan can be availed for any business upgrade or equipment purchase, which is repaid in equal instalments at fixed intervals. Be it working capital, small equipment purchase or any other business expansion plan, we at ICICI Bank understand your financial needs and offer you specially designed Business Loan which suits your business requirements.
BENEFITS OF ICICI BANK BUSINESS LOAN
Proprietorship Firm/ Self-Employed Nonprofessionals
Partnership Firm/ LLP & Private Limited Company
Unlisted Public Limited Company
Self-Employed Professionals And Doctors
ON WHAT BASIS BUSINESS LOAN CAN BE AVAILED?
Traders/Retailers
Manufacturers
Vendors
Wholesalers & Distributors
Doctors
Architects
Chartered Accountants
Company Secretary/ Cost and Work Accountant (CWA)
You can pre-close or pre-pay your Business Loan (BL) by paying the applicable pre-closure charges after 1st EMI payment. Currently, the applicable pre-closure charge is 3% of the outstanding loan amount (plus applicable tax). After paying 12 EMIs, the charges are NIL. Loans classified under MSE can also pre-close the loan after 1st EMI payment with NIL charges.
Yes. We offer Personal Loan for business purpose, to self-employed individuals as well. To apply for Business Loan, please visit the nearest ICICI Bank branch along with your valid ID proof.
The minimum business vintage required under BIL is 5 years.
There are different criteria based on which one’s eligibility is decided. You can check your eligibility:
CHECK YOUR ELIGIBILITY
Business Instalment loan (BIL) is an unsecured loan which is provided to a self-employed individual and entity. A business instalment loan is a business loan that can be availed for any business upgrade or equipment purchase, which is repaid in equal instalments at fixed intervals, mostly monthly.
Yes. ICICI Bank offers a facility where in both partners can together apply for ICICI Bank Business Instalment Loan.
- Doctor: 60 Months
- Professional (CA, CS, CWA and Architect): 48 Months
- Other: 36 Months
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- Proprietorship Firm
- Partnership Firm/ LLP
- Private Limited Company
