ICICI Business Loan Interest Rate Calculator - Dec 2016

ICICI Bank Business Loan Interest Rates

Last Updated 03rd Dec 2016
Self Employed
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

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
  • 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

Business Loan Charges

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
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. Business loan EMI of ICICI Bank 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 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?

  • Business loan EMI calculator of ICICI Bank helps you to calculate your monthly EMI at different rate of interest
  • ICICI Bank 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 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 status 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 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

ICICI Business Loan in India

ICICI Bank Business Loan Customer Care Number, Email, Application Status, 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
ICICI Business Loan News - Dec 2016
02nd Dec 16 ICICI Bank reduces its MCLR by 5 basis points
ICICI Bank has reduced its overnight and three months marginal cost of lending rate by 5 basis points to 8.70 and 8.80 percent respectively. ICICI Bank has also reduced its one year lending rate to 8.90 percent from 8.95 percent earlier. Revised rates are effective from 1st December, 2016.
30th Nov 16 ICICI Bank fixed deposit rates cut by 55 basis points
ICICI Bank has reduced its one year bulk fixed deposit (more than Rs. 1 crore) rate by 55 basis points. The revised fixed deposit rate of ICICI Bank is now 6 percent. New rates are effective from 29th November, 2016.
29th Nov 16 ICICI Bank to transform 100 villages into digital villages
Given the trend of going cashless in payments and transactions post demonetization, ICICI Bank has decided to transform 100 villages into digital villages across the country in 100 days. Under the plan, the bank will work towards providing cashless payment system, vocational training and credit linkages to the villagers.
18th Nov 16 ICICI Bank fixed deposits rate cut by 15 to 25 basis points
ICICI Bank has reduced its fixed deposits rates by 25 basis points to 7 percent for one year to 389 days. Fixed deposits rate for 390 days to two years tenure is also reduced by 15 basis points to 7.10 percent from 7.25 percent. The revised fixed deposits rates for two to five year ICICI Bank FD are now 7 percent instead of 7.25 earlier. New rates would be effective from 17th November, 2016.
08th Nov 16 ICICI profit rises modestly as bad loans surge
ICICI Bank reported a modest 2 percent rise in net profit in September quarter to Rs. 3,102 crores. Bank posted its highest quarterly increase in bad loans in ten years. ICICI gross NPAs more than double to Rs. 32,158 crores from Rs. 15,857 crores in the same quarter last year.
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