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ICICI Bank Business Loans in Chennai

ICICI Bank offers business loans for short term at reasonable cost and interest rate. ICICI also offers long term business loans for large enterprises which can be extended for the procurement of the products and services from the corporate. ICICI being the premier banking offers best loan products to customers who approach for loans. The interest rates are competitive and you can choose the loan according to your requirements and convenient repayment terms.

Features of Business loan from ICICI Bank

  • The offered loan amount depends on the requirement and type of business the applicant run
  • The interest rates are competitive and varies with loan amount or repayment structure chosen
  • Flexible repayment tenure up to 60 months
  • The pre payment charges are nominal
  • About 2% of the loan amount is taken towards services charges
  • Quick disposals of loans for the enterprises that are in immediate need of financial aid
  • Flexibility in using the loan amount for any purposes
  • Speedy verification of documents and immediate status update about the approval of the loan

Eligibility for Business loan from ICICI bank

  • The applicant must be over 21 years and maximum of 65 years
  • Must provide income proof with IT returns for last 2 to 3 years
  • The applicant must have experience in running a business for at least 2 to 3 years period
  • All essential ID proof, address proof, income proof must be provided to become eligible
  • All proprietors, private limited firms and partnership companies can apply for business loan

Documents Required for Applying Business Loan

  • Identity proof of any one of the following such as passport, driving license, PAN card, voters ID
  • Any of the following Address proof to be provided such as, recent telephone bill, electricity bill, passport, property tax receipt
  • Age proof to be provided include, school transfer certificate, 12th certificate or birth certificate
  • Financial documents to be provided include, last 6 months bank statement, bank passbook as a proof of active transaction, recent IT returns with the income computed
  • P & L and B/S for last 2 years that are certified by CA
  • High professional degree certificate as qualification proof