ICICI Business Loan Interest Rate Calculator - Oct 2016

ICICI Bank Business Loan Interest Rates

Last Updated 26th Oct 16
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ICICI Bank Business Loan
ICICI Bank Business Loan Interest Rate 16.85%
Lowest EMI Rs. 2,035 per lakh
Tenure From 12 months to 84 months
Loan Amount Max Rs. 10,000,000
Processing Fee 2%
Part Prepayment, Charges Not allowed
Early Foreclosure, Charges Allowed after 6 EMI's, 2% in case of Balance Transfer
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ICICI Bank Business Loan

ICICI Bank gives the facility of business loan to the people who need finance to expand their business. There are some benefits of taking business loan from ICICI Bank:
  • You can prepay part of your loan anytime after paying 1% prepayment charges
  • You can foreclose your entire Business loan anytime after paying the forclosure charges
  • ICICI Bank has over 2,660 branches in India where you can avail service

Business Loan ICICI

ICICI Bank business loan interest rate is the rate which you pay over the loan amount that you have borrowed from the bank. Business loan interest rates offered by ICICI Bank are fixed as well as floating
  • Fixed rates allow you to borrow loan at a fixed price which won’t change in the whole tenure in case of change in ICICI Bank benchmark rate and should be chosen only if you believe that the rates will not hike in future
  • In contrast to this are floating rates which changes with a single change in ICICI Bank benchmark rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates
ICICI Bank Business Loan Interest Rate depends upon
  • ICICI Bank business loan amount: Business loan rate in ICICI Bank depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate
  • CIBIL Score: ICICI Bank offers business loan at higher interest rate if your CIBIL score is poor or vice versa
  • Monthly Revenue: ICICI Bank will avail you business loan at lower interest rate if you have higher monthly revenue
  • Time in Business: ICICI Bank offers business loan at lower rates if you are doing business since long time

ICICI Bank Business Loan Charges

ICICI Bank Business Loan foreclosure charges- These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. ICICI Bank allows prepayment of business loan after paying 6 EMI’s with prepayment charges
ICICI Bank Business Loan processing fee- ICICI Bank asks for a processing fee of 2% of loan amount with applicable service tax

ICICI Business Loan EMI Calculator

Business Loan EMI is a fixed amount that you pay each month towards the repayment of your business loan till the end of tenure. Lowest EMI offered by ICICI Bank is 2,035 per lakh loan amount. ICICI Bank business loan EMI depends on factors like:
  • Interest Rate: Higher the interest rate, higher will be the EMI. For a 84 months business loan from ICICI Bank at interest rate of 16.85% per annum, EMI will be Rs. 2,035 per Rs. one lakh loan amount.
  • Loan tenure: Longer the loan tenure, lesser your monthly EMI. At interest rate of 16.85% per annum, the EMI on ICICI Bank business loan would range from Rs. 9,113 to Rs. 2,035 for loan tenure ranging from 12 to 84 months
  • Amount Borrowed: ICICI Bank business loan EMI will be high if you apply for a high loan amount. For amount borrowed 10,000,000, the EMI at 16.85% for 84 months would be 203,492.

What are the benefits of calculating business loan EMI?

  • EMI calculator of ICICI Bank Business loan helps you to calculate your monthly EMI at different rate of interest
  • ICICI Bank Business loan EMI calculator helps you to know your capacity to repay the loan after maintaining your standard of living
  • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly
Estimated EMI online by using Business Loan EMI Calculator.

ICICI Business Loan Eligibility Calculator

Business loan eligibility criteria ICICI Bank

Eligibility of Business loan in ICICI Bank relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are
  • Profitability: Business loan eligibility significantly depends upon profitability and future prospects of your business. ICICI Bank requires profit for minimum 1 years
  • Business Stability: Future business prospects and its stability is important to improve your eligibility for business loan. Your ITR details for minimum 1 year and bank statement for minimum 6 months will be required by ICICI Bank
  • CIBIL Score: When checking eligibility for business loan, ICICI Bank will look at the complete CIBIL report. ICICI Bank will check your repayment history for all current and past loans and credit cards.
Popular ICICI Bank Business Loan Products:
  • Working Capital Loan
  • Term Loan

Business Loan ICICI documents required

  • Address proof of individual: Aadhar Card, Voter’s ID Card, Bank statement, registry copy, rent agreement , utility bills.
  • Identity proof of individual: Passport, Driving License, PAN Card, Aadhar Card, Voter’s ID Card
  • Business existence proof: PAN, sales tax/ excise/ VAT/ service tax registration, copy of partnership deed, trade license, certificate of practice, registration certificate issued by RBI, SEBI
  • Copy of Income Tax PAN for 1 year
  • Bank statement of last 6 months

Compare ICICI Business Loan

Comparison of ICICI Bank Business Loan with other banks

ICICI Business Loan in India

ICICI Bank Business Loan Customer Care Number, Email, Application Status

Contact Details of ICICI Bank Business Loan Branches
City Customer Care Number
Agra 808-166-7777
Ahmedabad 079-33667777/ 079-44455000
Ambala 901-766-7777
Anand 800-066-7777
Aurangabad 902-166-7777
Bangalore 080-33667777/ 080-44455000
Bhilai 909-866-7777
Bhilwara 787-766-7777
Bhiwadi 787-766-7777
Bhopal 0755-3366777
Bhubaneswar Cuttack 0674-3366777
Bikaner 787-766-7777
Chandigarh 0172-3366777/ 0172-4445500
Chennai 044-33667777/ 044-44455000
Cochin 902-066-7777
Coimbatore 0730-566-7777
Dehradun 0135-3366777
Delhi 011-33667777/ 011-44455000
Durg 909-866-7777
Faridabad 901-766-7777
Gandhinagar 800-066-7777
Ghaziabad 808-166-7777
Goa 902-166-7777
Greater Noida 808-166-7777
Gurgaon 0124-3366777/ 0124- 4445500
Guwahati 986-466-7777
Gwalior 909-866-7777
Hyderabad 040-33667777/ 040-44455000
Indore 909-866-7777
Jabalpur 909-866-7777
Jaipur 0141-3366777/ 0141-4445500
Jalandhar 730-766-7777
Jodhpur 787-766-7777
Kanpur 808-166-7777
Karnal 901-766-7777
Kolhapur 902-166-7777
Kolkata 033-33667777/ 033-44455000
Kota 787-766-7777
Kozhikode 902-066-7777
Lucknow 0161-3366777/ 0161-4445500
Ludhiana 730-766-7777
Madurai 0730-566-7777
Meerut 808-166-7777
Mehsana 800-066-7777
Mohali Sas Nagar 730-766-7777
Mumbai 022-33667777/ 022-44455000
Mussoorie 808-166-7777
Nagpur 902-166-7777
Nashik 902-166-7777
Noida 808-166-7777
Noida Extn. 808-166-7777
Panipat 901-766-7777
Patna 0612-3366777
Pondicherry 0730-566-7777
Pune 902-166-7777
Raipur 0771-3366777
Rajkot 800-066-7777
Ranchi 0651-3366777
Rohtak 901-766-7777
Roorkee 808-166-7777
Salem 0730-566-7777
Shimla 0177-3366777
Sonepat 901-766-7777
Surat 800-066-7777
Trichy 0730-566-7777
Udaipur 787-766-7777
Vadodara 800-066-7777
Varanasi 808-166-7777
Vijaywada 730-666-7777
Vizag 730-666-7777
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ICICI Business Loan News - Oct 2016
15th Oct 16 ICICI Bank tests blockchain transactions
ICICI Bank has done successful execution of its first two transactions using blockchain technology. Now other private sector banks are gearing up for the technology. Axis Bank and Kotak Mahindra Bank are conducting pilot transactions in trade settlements and cross border remittances, while HDFC is still assessing the opportunity.
12th Oct 16 ICICI Bank uses blockchain technology
ICICI Bank has partnered with Emirates NBD to execute transactions in global remittances and trade finance using blockchain technology. ICICI Bank has used blockchain technology to transfer funds as well as trade documents related to purchase order, shipping and insurance, invoice, electronically in real time. ICICI Bank has also partnered with Infosys EdgeVerve Systems.
06th Oct 16 ICICI bank acquires 11 percent stake in ABG Shipyard, all lenders have 49 per cent
ICICI Bank acquired 11 per cent stake in ABG Shipyard by converting their debt into equity. Now the total stake of the lenders is 49 per cent. Others lenders such as State Bank of India and Punjab National Bank have 7 per cent stake each by converting debt into equity.
01st Oct 16 Only 5 per cent transactions are done at ICICI bank branch, Digital channels accounts 60 per cent.
Only 5-6 per cent ICICI bank transactions are done at bank branch, 60 per cent are done through digital channels including Mobile banking, net banking and pocket app. On June 30, the online transactions accounts were 64.9 per cent digitally while ATM transactions were 23.6 per cent. Meanwhile SBI says that 78 per cent of their transactions are done digitally.
28th Sep 16 ICICI Bank crosses 1 lakh registrations on its UPI app
Within three weeks of UPI launch, ICICI Bank has made more than 1 lakh Virtual Payment Addresses (VPA) on Unified Payments Interface. Bank has also announced its partnership with Aditya Birla Fashion and Retail and Hindustan Petroleum Corporation in order to enhance the usage of UPI. Now, users can make payments anytime using UPI including bank holidays. Users can also make payments to merchants from their mobile phones where UPI is accepted as a payment mode.