ICICI Business Loan – Do you guys want to know information about ICICI Business Loan? Then you have come to a perfect place. So let’s know, what is ICICI Business Loan, how much is the interest rate on ICICI Business Loan, how many are the types of ICICI Business Loan, Eligibility criteria for getting loan (eligibility for taking loan), what documents are required to get loan and how to get ICICI Business Loan What is the process? If you want to know all the information in Gujarati language then read this article till the end.
What is ICICI Business Loan? – ICICI Business Loan
The Business Loan provided by ICICI Bank is up to Rs 20 Crores. The tenure of the loan is 7 years.
What is the interest rate on ICICI Business Loan? – ICICI Business Loan interest rate
The interest rate of loans offered under ICICI Business Loan ranges from 10.75% to 17.00%. This interest rate is determined on the type of ICICI Business Loan and the ‘CIBIL Score’ of the borrower.
What are the types of ICICI Business Loans?
Friends, here below are the types of ICICI Business Loan and to whom the loan is given. Its complete information is given below.
(1) ICICI Bank Term Loan
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Who is ICICI Bank Term Loan offered to? : ICICI Bank term loans are provided to people to expand their business, purchase commercial assets, set up industrial units and expand or modernize existing units.
(2) ICICI Bank Fixed Deposit Overdraft Facility for Corporates
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Who is offered ICICI Bank Fixed Deposit Overdraft Facility for Corporate? : So ICICI Bank offers fixed deposit overdraft facility for corporates including companies, partnership firms, limited liability partnerships and Hindu Undivided Family through Corporate Internet Banking facility.
(3) ICICI Bank GST Business Loan
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Who is ICICI Bank GST Business Loan offered to? : So this secured business loan product can be used by business entities like sole proprietorship, partnership, private and public limited companies and working in sectors like manufacturing, trading or service to get working capital finance. Banks have simple assessment criteria for their business loan applicants based on their GST returns.
(4) ICICI Bank Insta Secured Overdraft Facility
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Who is offered ICICI Bank Insta Secured Overdraft facility? : So ICICI Bank it Insta Secured Overdraft facility is offered to meet the working capital requirements of sole proprietors, partnership firms and private limited companies engaged in manufacturing, trading and services.
(5) ICICI Bank Business Loan for Working Capital Finance
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Who is ICICI Bank Business Loan for Working Capital Finance? : ICICI Bank Business Loans for Working Capital Finance Business units are eligible to avail facilities like export credit, bank guarantee, overdraft facility etc. to meet their day-to-day needs.
(6) ICICI Bank Business Loans for New Establishments
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To whom is it given? : New Companies at least 1 year old are designed for business entities engaged in manufacturing, retail, wholesale, import/export and service sectors. These loans are provided for business expansion, purchase of commercial assets and meeting day-to-day expenses along with sole proprietorship, partnership firms, public and private limited companies are provided cash credit, overdraft, export credit and non-fund based facilities under this loan facility.
(7) Business Loan without ICICI Bank Financial
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Who is given a business loan without ICICI Bank Financial? : This loan is offered to ICICI Bank sole proprietorships, partnership firms, public and private limited companies having a business vintage of 3 years and having a current account for at least 2 years.
(8) ICICI Bank Insta Overdraft Plus Business Loan
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Who is ICICI Bank Insta Overdraft Plus Business Loan offered to? : ICICI Bank Business Loan Insta Overdraft Plus is an unsecured business loan overdraft facility for business entities for their working capital requirements as well as sudden emergencies. The borrower has to pay interest on the loan amount availed under this facility. The bank claims to offer instant overdraft facility with paperless processing, instant approval and disbursement for Insta Overdraft Plus and does not charge any prepayment or foreclosure fees.
What is the procedure for availing ICICI Business Loan?
Friends who want to get ICICI Business Loan. The complete information on how to apply for their loan is given below in detail. Following which you can apply for ICICI Business Loan.
Step 1 : Friends first of all you have to go to the nearest ICICI Bank of your area and go to the loan department officer.
Step 2 : Then you have to submit the loan to that officer.
Step 3 : Then you will be asked by that officer to process the document further if you are eligible for that law.
Step 4 : Then all the further processing will be done and if your application is approved then you will be given the loan.
Step 5 : Friends you can apply for ICICI Business Loan by going to the bank like this.
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