ICICI Bank business loan: Check loan types, eligibility criteria and interest rate

Note: The business loan rates of interest are subject to change from time to time. It is best to get information from the bank about the prevailing rate of interest.

Note: The business loan rates of interest are subject to change from time to time. It is best to get information from the bank about the prevailing rate of interest.

ICICI Bank business loan: How to apply?

There are two ways to apply for a business loan from ICICI Bank – online and offline.

ICICI Bank Business loan: Applying offline

• Visit the nearest branch of the ICICI Banks
• Meet the loan officer to seek information regarding loan schemes suitable for your business
• Fill in the business loan application form of ICICI Bank
• Submit the application form along with the required documentation

ICICI Bank Business loan: applying online

• You can visit the
• Read through the several loan schemes that the bank offers
• Select the one that suits you the best
• Click on ‘Apply now’
• The screen will prompt you a question if you have an ICICI Bank account, select the right option.
• Next, fill in your details.
• Click on ‘Apply’

ICICI Bank business loan: Required documents

Although the loan scheme determines the exhaustive list of documents required for a loan scheme, here is a checklist for some of the commonly required documents for ICICI Bank business loans.

• Company proof: Partnership deed/Certificate of Incorporation/Shops and Establishment certificate
• Copy of PAN Card of the company, proprietors/partners/directors, security providers and guarantors
• Address proof of the company, proprietors/partners/directors, security providers and guarantors
• Last 3 years’ audited/provisional financials documents including balance sheet, profit and loss statement, tax audit reports, statutory audit report, VAT returns, etc.
• Project report: Current year performance and projected turnover on the company’s letterhead.
• Last 1 year’s Income Tax returns along with computation of income and copy of acknowledgement
• In the case of a collateral loan, documents related to promised security will need to be submitted

Note: The list of documents mentioned above is indicative. It is best to get an exhaustive list of documents from ICICI Bank.

ICICI Bank business loan: Eligibility criteria

• Age: Age of the applicant should be between 25-65 years
• Minimum turnover of the company: ₹40 Lakh for non-professionals; ₹15 Lakh for loan for professionals such as Chartered Accountants
• Minimum profit: ₹2 Lakh for proprietorship firm/self-employed individuals and ₹1 Lakh for non-professionals
• Business vintage: Applicant should be in the current business for a minimum 5 of years
• Relationship with the ICICI Bank: Applicant should have a minimum of 1 year liability relationship with the bank in the form of a current or savings account or asset relationship such as a loan either live or closed in the last 36 months

Who can apply for a business loan from ICICI Bank?

ICICI bank business loan: Checking status

If you already have applied for a business loan at the ICICI Bank, here is how you can track your status:

• Visit the ICICI Bank’s portal for tracing loans
• Enter your application number
• Enter your mobile number
• Click on Send OTP
• Enter OTP that you receive on your mobile number to check the status

Frequently asked questions