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Featured Business Loan Schemes from ICICI Bank

  • Working Capital Loans:
    Purpose: For day-to-day expenses, inventory, and accounts receivables. Includes overdraft, cash credit, and export credit facilities.
    Loan Amount: Need-based, subject to eligibility.
    Security: No collateral required for credit limits up to a specified threshold.
    Repayment: Shorter cycles, often renewable annually.
  • Term Loans:
    Purpose: For long-term investments like purchasing equipment, expanding operations, or setting up new units, with repayment tenures up to 7 years.
    Loan Amount: Need-based, subject to eligibility.
    Repayment: Typically up to 7 years, based on project cash flows.
  • GST Business Loans:
    Purpose: Overdraft facility up to ₹3 crore based on GST returns, requiring no financial documents.
    Loan Amount: Up to ₹3 crore.
    Repayment: Short-term and flexible repayment options.
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    • Secured Loans:
      Purpose: Require collateral like residential, commercial, or industrial properties, or liquid securities.
      Interest Rates: Start at Repo Rate + 6.0% (e.g., 11.00% p.a. for loans up to ₹40 lakh, 10.75% p.a. above ₹40 lakh).
    • Unsecured Loans:
      Purpose: No collateral required, ideal for MSMEs and startups.
      Interest Rates: Can go up to 17% p.a. depending on the loan scheme, business profile, and creditworthiness.
    • Flexible Loan Amounts:
      Loan Amounts: Range from ₹1 lakh to ₹5 crore, depending on the scheme, business needs, and eligibility.
      Processing: Online processing for loans up to ₹1 crore with instant in-principle sanction; higher amounts require branch consultation.
    • Competitive Interest Rates:
      Rates: Vary based on business profile, loan amount, tenure, financials, and CIBIL score (minimum 700 recommended).
      Secured Loans: Starting at Repo Rate + 6.0% (around 12.50% p.a.).
      Unsecured Loans: Up to 17% p.a. (e.g., InstaOD at 16–17% p.a.).
    • Flexible Repayment Tenure:
      Repayment: Up to 7 years for term loans and CGTMSE schemes.
      Overdrafts: Annual renewal for overdraft facilities (e.g., InstaOD tenure is 12 months, renewable).
      Business Instalment Loans: Up to 48 months for professionals (e.g., CAs, architects) and 36 months for others.
    • Minimal Documentation:
      Documents Required: Basic documents include PAN card, address proof, entity proof (e.g., Partnership deed, Certificate of Incorporation), last 3 years’ audited/provisional financials, and bank statements (6–12 months).
      GST Loans: No financial documents required, relying on GST returns or banking transactions.
    • Quick Processing and Disbursal:
      Application: Online application with instant sanction for pre-approved loans (e.g., InstaOD, Insta Secured OD).
      Disbursal: In as little as 72 hours for eligible applicants at ICICI HFC branches.
    • No/Low Foreclosure Charges:
      Foreclosure: No foreclosure charges for Micro and Small Enterprises (MSEs).
      Others: Foreclosure charges may apply for others (e.g., 5% of outstanding amount after 6 EMIs).
      Facilities: InstaOD and FD overdraft facilities have no prepayment or foreclosure charges.
    • Tailored Solutions for MSMEs and Startups:
      Solutions: Customized loans for micro, small, and medium enterprises, including iStartup 2.0 for startups (businesses at least 1 year old).
      New Entities: Loans for new entities without audited financials, importers/exporters, and professionals (e.g., doctors, CAs).
    • Additional Benefits:
      Platforms: Access to online platforms like Corporate Internet Banking and InstaBiz app for seamless loan applications.
      Support: Advisory support from ICICI Bank’s Investment Banking by Small Enterprises Group.
      Non-Fund-Based: Non-fund-based facilities like letters of credit and bank guarantees for trade facilitation.
      Interest Charges: Interest charged only on the utilized amount for overdraft facilities.
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Benefits of ICICI Bank Business Loans

  • Access to Flexible Financing: Loans from ₹1 lakh to ₹5 crore cater to diverse needs, from working capital to large-scale expansion.
    Secured and unsecured options suit businesses with or without collateral.
  • Boosts Growth and Expansion: Term loans enable investments in equipment, new units, or business upgrades.
    Specialised loans like iStartup 2.0 support startups, fostering innovation and scalability.
  • Improves Cash Flow Management: Working capital loans and overdraft facilities (e.g., InstaOD, GST Business Loan) ensure liquidity for daily operations, inventory, or supplier payments.
    Interest charged only on the utilized overdraft amount reduces costs.
    • Quick and Hassle-Free Access: Instant in-principle sanction for pre-approved loans. Disbursal in as little as 72 hours for eligible applicants. Minimal documentation for GST-based loans and digital platforms.
    • Collateral-Free Options: Unsecured loans up to ₹2 crore benefit MSMEs and startups without assets. Reduces risk for businesses unable to pledge property or securities.
    • Competitive and Flexible Terms: Interest rates start at Repo Rate + 6.0% (around 12.50% p.a.) for secured loans, with unsecured rates up to 17% p.a. No/low foreclosure charges for MSEs and select schemes (e.g., FD overdraft).
    • Tailored for Diverse Businesses: Customised solutions for MSMEs, exporters, importers, professionals (e.g., doctors, CAs), and new entities. Non-fund-based facilities like letters of credit and bank guarantees support trade.
    • Enhances Credit Profile: Timely repayments improve business credit scores, enabling access to larger loans in the future. Loans based on GST returns or banking history help businesses with limited financials.
    • Supports Digital and Global Operations: Export/import finance and foreign currency loans mitigate forex risks for international trade. Online platforms offer seamless loan management.
    • Additional Business Support: Advisory services from ICICI’s Investment Banking by Small Enterprises Group aid strategic decisions. Over 3,000 branches ensure personalised assistance and quick processing.
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How to Apply for ICICI Bank Business Loans

  • 1. Determine Your Loan Requirement:
    • Identify the type of loan you need (e.g., working capital, term loan, GST Business Loan, InstaOD, CGTMSE, etc.) based on your business needs.
    • Check eligibility criteria on ICICI Bank’s website (e.g., minimum 3 years business vintage, turnover of ₹15–40 lakh, CIBIL score of 700+).
  • 2. Gather Required Documents:
    • Common Documents:
      • PAN card of the entity/individual.
      • Address proof (e.g., Aadhaar, passport, utility bill).
      • Business proof (e.g., GST registration, Partnership deed, Certificate of Incorporation).
      • Bank statements (6–12 months).
      • Last 3 years’ audited/provisional financials (ITR, balance sheet, profit & loss statement).
    • For Specific Loans:
      • GST-based loans (e.g., GST Business Loan, Insta Secured OD): GST returns (no financials needed).
      • InstaOD Plus: Minimal documents for existing ICICI customers; GST returns for non-customers.
      • CGTMSE Loans: Additional proof of MSME registration.
      • Fixed Deposit Overdraft: FD certificate.
    • Keep digital copies ready for online applications.
  • 3. Choose Application Method:
    • Online Application:
      • Via ICICI Bank Website:
        • Visit www.icicibank.com> Loans > Business Loans.
        • Select the desired loan product and click “Apply Now.”
        • Fill in the application form with personal, business, and loan details.
        • Upload required documents (e.g., KYC, financials, GST returns).
        • Submit the application for instant in-principle sanction (for loans up to ₹1 crore).
      • Via InstaBiz App:
        • Download the InstaBiz app (available on iOS/Android).
        • Log in or register using your ICICI Bank account or mobile number.
        • Navigate to the “Loans” section and select a business loan.
        • Complete the application and upload documents.
        • Track application status in real-time.
      • Via Corporate Internet Banking (CIB):
        • Log in to CIB with your ICICI Bank business account credentials.
        • Go to the “Loans” or “Apply for Loan” section.
        • Follow prompts to apply and upload documents.
        • Suitable for quick-processing loans like InstaOD, GST Business Loan, or pre-approved offers.
    • Offline Application:
      • Visit any of the 3,000+ ICICI Bank branches or 140+ ICICI HFC branches.
      • Request a business loan application form from a bank representative.
      • Fill out the form and submit it with physical copies of required documents.
      • Discuss loan options with a relationship manager for loans above ₹1 crore or complex requirements.
  • 4. Application Verification:
    • ICICI Bank verifies your application, documents, and credit profile (CIBIL score, business financials).
    • For online applications, you may receive an instant in-principle sanction (subject to final approval).
    • For offline or larger loans, the bank may conduct a business/site visit or request additional documents.
  • 5. Loan Approval and Disbursal:
    • Upon approval, you’ll receive a sanction letter detailing the loan amount, interest rate, tenure, and terms.
    • Sign the loan agreement and complete any collateral formalities (for secured loans).
  • 6. Track Application Status:
    • Use the ICICI Bank website, InstaBiz app, or Corporate Internet Banking to track your application.

Eligibility Criteria for ICICI Bank Business Loans

  • Applicant Type:
    • Individuals, proprietorships, partnerships, private limited companies, or LLPs.
    • Self-employed professionals (e.g., doctors, chartered accountants, architects) or non-professionals running a business.
    • MSMEs, startups (at least 1 year old for schemes like iStartup 2.0), exporters, importers, or new entities.
  • Age:
    • Minimum: 25 years (28 for self-employed non-professionals; 25 for doctors).
    • Maximum: 65 years at the time of loan maturity.
  • Business Vintage:
    • Minimum 3 years for most loans (e.g., professionals like doctors, CAs).
    • Minimum 5 years for self-employed non-professionals (e.g., traders, manufacturers).
    • Startups: At least 1 year for specific schemes like iStartup 2.0.
    • GST-based loans (e.g., GST Business Loan, Insta Secured OD) may accept shorter vintage if GST returns are strong.
  • Annual Turnover:
    • Professionals (e.g., doctors, CAs): Minimum ₹15 lakh.
    • Non-professionals (e.g., traders, manufacturers): Minimum ₹40 lakh.
    • Specific schemes like InstaOD or GST Business Loans may have relaxed turnover criteria based on banking transactions or GST filings.
  • Profit After Tax (PAT):
    • Proprietorship/Self-Employed: Minimum ₹2 lakh per year.
    • Non-Professionals: Minimum ₹1 lakh per year.
    • Not mandatory for GST-based loans or InstaOD, which rely on cash flow or GST returns.
  • Credit Score:
    • Minimum CIBIL score of 700; preferably 750+ for better terms and approval chances.
    • A strong credit history (no defaults, timely repayments) is essential.
  • Banking Relationship with ICICI:
    • At least 1-year liability relationship (e.g., savings or current account) or asset relationship (e.g., existing loan, live or closed within the last 36 months).
    • Not mandatory for non-customers applying for schemes like InstaOD Plus (up to ₹25 lakh) or GST-based loans, but existing customers may get pre-approved offers.
  • Business Stability and Documentation:
    • Stable business operations with consistent revenue.
    • Valid business proof (e.g., GST registration, Partnership deed, Certificate of Incorporation).
    • For MSME loans (e.g., CGTMSE): Udyam Registration Certificate or equivalent MSME registration.
  • Collateral Requirements:
    • Some loan schemes may require collateral, such as property or fixed deposits.
    • Collateral requirements are generally higher for unsecured loans but may be waived for certain types of loans, such as GST-based loans.
  • Legal Compliance:
    • The business must comply with all applicable government regulations and taxes.
    • Non-compliance with regulatory requirements may result in disqualification from applying for a loan.
  • Sector-Specific Eligibility:
    • For certain industries like real estate, construction, or hospitality, additional documentation or approval may be required.
    • Sector-specific criteria may include licenses, industry-specific registrations, or financial health reports.
  • Debt Service Coverage Ratio (DSCR):
    • Applicants with a higher DSCR are more likely to get approved for larger loans.
    • A DSCR of 1.5 or higher is typically preferred for large loans, showing that the business generates sufficient income to service debt obligations.
  • Business Expansion Potential:
    • ICICI Bank may favor businesses that show potential for expansion or growth based on market trends or innovative business models.
    • A solid business plan demonstrating growth potential can enhance the chances of loan approval.
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Documents Required for ICICI Bank Business Loans

  • Identity Proof (Any One):
    - PAN card (mandatory for individual/entity)
    - Aadhaar card
    - Passport
    - Voter ID
    - Driving license
  • Address Proof (Any One):
    - Aadhaar card
    - Passport
    - Voter ID
    - Driving license
    - Utility bill (electricity, telephone, gas not older than 2 months)
    - For business: Lease/rental agreement, property ownership documents, or utility bill in the business name
  • Business Proof (Any One):
    - GST registration certificate
    - Partnership deed (for partnerships)
    - Certificate of Incorporation and Memorandum of Association (for companies)
    - Shops and Establishment Act certificate
    - Udyam Registration Certificate (for MSMEs, mandatory for CGTMSE loans)
  • Financial Documents:
    - Last 3 years’ audited/provisional financials:
       • Income Tax Returns (ITR) with computation of income
       • Balance sheet and profit & loss statement (certified by a CA, if applicable)
    - Bank statements: Last 6–12 months of the business’s primary/current account
  • Loan Application Form:
    - Duly filled and signed ICICI Bank business loan application form (available online or at branches)
    - Recent passport-sized photographs of the applicant(s)
  • KYC Documents:
    - KYC for proprietors, partners, or directors (PAN, Aadhaar, or other ID/address proofs)
    - Board resolution (for companies) or partnership authority letter (for partnerships) to avail the loan
  • Additional Documents for Specific Loan Types:
    GST Business Loan/Insta Secured Overdraft:
       • GST returns for the last 12 months (no audited financials required)
       • Bank statements (6 months, if GST returns are insufficient)
       • Minimal KYC and business proof (e.g., GST registration)
    InstaOD Plus:
       • Existing ICICI Customers: Minimal documents; eligibility based on banking transactions with ICICI
       • PAN card and basic KYC
       • Non-Customers: GST returns or last 6 months’ bank statements, business proof, and KYC documents
    CGTMSE Loans (Collateral-Free for MSMEs):
       • Udyam Registration Certificate (mandatory)
       • Last 3 years’ financials (ITR, balance sheet, P&L)
       • Bank statements (6–12 months)
       • Project report or business plan (if required by the bank)
    Fixed Deposit Overdraft:
       • Fixed Deposit certificate/receipt with ICICI Bank
       • Basic KYC (PAN, address proof)
       • No financials or business proof required
    Business Instalment Loan:
       • Last 3 years’ financials (ITR, balance sheet, P&L)
       • Bank statements (6–12 months)
       • Proof of professional qualification (e.g., medical degree for doctors, CA certificate for accountants, if applicable)
    Export/Import Finance:
       • Trade documents (e.g., export orders, invoices, bills of lading)
       • Last 3 years’ financials and bank statements
       • Foreign currency account details (if applicable)
    Secured Loans (e.g., Term Loans with Collateral):
       • Property documents (e.g., title deed, sale agreement, property tax receipts)
       • Valuation report of the collateral (if required)

Factors for ICICI Bank Business Loans

  • Credit Score (CIBIL Score):
    - A higher CIBIL score (700+; ideally 750+) improves approval chances and interest rates (12.50%–17% p.a.).
    - Reflects repayment history, defaults, and credit utilization.
    - Secured loans may approve scores of 700+, while unsecured loans (e.g., InstaOD) need stronger profiles.
  • Business Vintage:
    - Longer business tenure (3–5 years) shows stability and improves eligibility.
    - Professionals (doctors, CAs): 3+ years.
    - Non-professionals (traders, retailers): 5+ years.
    - Startups (iStartup 2.0): 1+ year acceptable.
    - GST-based loans may accept shorter vintage with strong GST returns.
  • Annual Turnover:
    - Higher turnover means revenue stability, supporting larger loan amounts.
    - Professionals: Minimum ₹15 lakh.
    - Non-professionals: Minimum ₹40 lakh.
    - GST-based loans assess turnover through GST returns, without strict minimums.
  • Profit After Tax (PAT):
    - Strong profitability supports repayment capacity and higher loan eligibility.
    - Proprietorship/Self-employed: Minimum ₹2 lakh/year.
    - Non-professionals: Minimum ₹1 lakh/year.
    - Not mandatory for GST-based loans or InstaOD, which rely on cash flow.
  • Debt-to-Income Ratio (DTI):
    - A lower DTI indicates better repayment ability.
    - Preferred DTI: Below 40–50%.
    - ICICI considers existing EMIs, credit card dues vs. revenue.
  • Collateral (for Secured Loans):
    - Quality/value of collateral affects loan amount (60–70% of value) and interest rates.
    - Required for loans like Term Loans, Insta Secured OD.
    - Unsecured loans (e.g., InstaOD Plus, CGTMSE) need stronger financials.
  • GST Returns and Cash Flow:
    - Consistent GST filings and healthy cash flow are crucial for GST-based loans and InstaOD.
    - GST Business Loan/Insta Secured OD: Based on 12 months’ GST returns.
    - InstaOD Plus: Assesses 6–12 months’ bank transactions.
  • Banking Relationship with ICICI:
    - A 1-year+ relationship boosts chances of pre-approved offers and fast approval.
    - InstaOD Plus: Up to ₹50 lakh for existing customers; ₹25 lakh for non-customers with more scrutiny.
  • Business Type and Industry:
    - Stable, high-growth sectors like manufacturing, healthcare, and IT are preferred.
    - MSMEs, professionals, and exporters/importers have tailored schemes (e.g., CGTMSE, export finance).
  • Documentation Quality:
    - Accurate and updated documents ensure quick processing.
    - Missing/inconsistent ITRs, bank statements, or KYC details can delay or reject applications.
  • Management Experience:
    - A strong and experienced management team increases trust and credibility.
    - Experienced leadership teams demonstrate the ability to scale and manage business operations effectively.
  • Cash Flow Stability:
    - Consistent cash flow indicates the ability to meet debt obligations.
    - A business with stable cash flow has a higher chance of loan approval and favorable terms.
  • Seasonality of the Business:
    - Businesses with predictable seasonal revenue can be eligible for customized loan options.
    - ICICI may offer flexible repayment terms for businesses that experience seasonal peaks and troughs.

Frequently Asked Questions (FAQs)

What types of business loans does ICICI Bank offer?
ICICI Bank offers various business loans, including:
• Working Capital Loans: Cash credit, overdraft, export credit for daily operations.
• Term Loans: For equipment purchase, expansion, or new units (up to 7 years).
• GST Business Loan: Overdraft up to ₹3 crore based on GST returns.
• InstaOD Plus: Unsecured overdraft up to ₹50 lakh (existing customers) or ₹25 lakh (non-customers).
• Insta Secured Overdraft: Secured overdraft up to ₹1 crore based on GST returns.
• CGTMSE Loans: Collateral-free up to ₹2 crore for MSMEs.
• Business Instalment Loan: Unsecured loan for upgrades or equipment.
• Fixed Deposit Overdraft: Up to 90% of FD value, no foreclosure charges.
• Export/Import Finance: Letters of credit, foreign currency loans for trade.
• Commercial Vehicle/Equipment Loans: For purchasing vehicles or machinery.
Who is eligible for an ICICI Bank business loan?
Eligibility depends on the loan type but generally includes:
• Applicant Type: Proprietorships, partnerships, companies, or self-employed professionals (e.g., doctors, CAs).
• Age: 25–65 years (28 for self-employed non-professionals; 25 for doctors).
• Business Vintage: 3+ years (professionals), 5+ years (non-professionals), 1+ year (startups for iStartup 2.0).
• Turnover: ₹15 lakh (professionals), ₹40 lakh (non-professionals).
• Profit After Tax: ₹2 lakh (proprietorship/self-employed), ₹1 lakh (non-professionals).
• CIBIL Score: Minimum 700; preferably 750+.
• Banking Relationship: 1-year+ with ICICI (preferred but not mandatory for some schemes).
What is the minimum and maximum loan amount offered?
Minimum: ₹1 lakh (varies by scheme, e.g., InstaOD).
Maximum: Up to ₹5 crore (subject to business profile, financials, and collateral for secured loans).
Smaller loans (up to ₹1 crore) can be processed online with instant sanction, while larger loans require branch consultation.
What are the interest rates for ICICI Bank business loans?
Interest rates vary based on loan type, business profile, and collateral:
• Secured Loans: Starting at Repo Rate + 6.0% (around 12.50% p.a., e.g., 11.00% for loans up to ₹40 lakh, 10.75% above ₹40 lakh).
• Unsecured Loans: Up to 17% p.a. (e.g., InstaOD at 16–17% p.a.).
Rates are linked to the Repo Rate (currently 6.50%) and subject to change. Check ICICI Bank’s website for the latest rates.
What is the repayment tenure for business loans?

• Term Loans/CGTMSE: Up to 7 years.
• Business Instalment Loan: Up to 48 months (professionals), 36 months (others).
• Overdraft Facilities (e.g., InstaOD, GST Business Loan): 12 months, renewable annually.
• Fixed Deposit Overdraft: Flexible, tied to FD tenure.
Tenure depends on loan amount, repayment capacity, and scheme.
What documents are required to apply for a business loan?
Common documents include:
• Identity Proof: PAN card, Aadhaar, passport, voter ID, or driving license.
• Address Proof: Aadhaar, utility bill, lease agreement, or property documents.
• Business Proof: GST registration, Partnership deed, Certificate of Incorporation, or Udyam Registration (for MSMEs).
• Financials: Last 3 years’ ITR, balance sheet, profit & loss statement; 6–12 months’ bank statements.
Specific Schemes:
• GST Business Loan/Insta Secured OD: GST returns (12 months).
• InstaOD Plus: Minimal documents (bank statements or GST returns).
• CGTMSE: Udyam Registration.
• Secured Loans: Property documents or FD certificate.
Digital copies are needed for online applications; physical copies for branch submissions.
How can I apply for an ICICI Bank business loan?
Online:
• ICICI Bank website (www.icicibank.com > Business Banking > Loans > Apply Now).
• InstaBiz app (iOS/Android).
• Corporate Internet Banking (for existing customers).
Upload documents and get instant in-principle sanction for loans up to ₹1 crore.
Offline:
• Visit any of the 3,000+ ICICI Bank branches or 140+ ICICI HFC branches.
• Submit the application form and documents, and consult a relationship manager.
Track status via the website, app, or customer care (1860-120-6699).
How long does it take to get a business loan approved and disbursed?

• Online/Pre-Approved Loans (e.g., InstaOD, GST Business Loan): Instant in-principle sanction; disbursal within 72 hours for eligible cases.
• Offline/Larger Loans: 5–15 days, depending on document verification, collateral valuation (if applicable), and loan amount.
Processing is faster for existing ICICI customers with strong financials.
Are collateral-free loans available?

Yes, ICICI Bank offers collateral-free loans, including:
• CGTMSE Loans: Up to ₹2 crore for MSMEs.
• InstaOD Plus: Up to ₹50 lakh (existing customers) or ₹25 lakh (non-customers).
• Business Instalment Loan: Unsecured for professionals and businesses.
These require strong financials, turnover, or GST returns and may have higher interest rates (up to 17% p.a.).
What are the processing fees and other charges?

• Processing Fees: Up to 2% of the loan amount + GST (varies by scheme; some like InstaOD may have lower fees).
• Foreclosure Charges:
Nil for Micro and Small Enterprises (MSEs).
Up to 5% of outstanding amount for others (after 6 EMIs).
No charges for InstaOD or Fixed Deposit Overdraft.
• Other Charges: Documentation, stamp duty, or collateral valuation fees may apply.
Check the sanction letter or website for details.

List of ICICI Bank Business Loans

  • ICICI Bank Working Capital Loans
  • ICICI Bank Term Loans
  • ICICI Bank GST Business Loan
  • ICICI Bank InstaOD Plus
  • ICICI Bank Insta Secured Overdraft
  • ICICI Bank CGTMSE Loans
  • ICICI Bank Business Instalment Loan
  • ICICI Bank Fixed Deposit Overdraft
  • ICICI Bank Export/Import Finance
  • ICICI Bank Commercial Vehicle/Equipment Loans