ICICI Bank Businss Loans In Chennai
The ICICI Bank Business Loan in Chennai can sort all kinds of business financial management. Because, the expert features of ICICI’s business loan policy helps in providing the loans for day-to-day business needs. With creative financing ideas, the loan seekers who are opting for ICICI Bank Business Loan in Chennai will be able to avail professional business loans.
The bank designs various packages of loans according to an individual’s requirement, thereby, providing a customized loan plan that suits an individual. With this, the loan applicants will be able to opt for a suitable ICICI Bank Business Loan in Chennai for all kinds of long term capital investments.
The loan applicants will also be able to avail overdraft policy with minimal documentation basis. The funding procedures are utmost simple with no financial requirements. The customized loans for SMEs will enable the applicants to choose the most convenient loan plan for their business.
The LoansBazaar team, being known as the top ICICI Bank Business Loan Agents in Chennai, pull their socks up to provide you with immediate assistance when it comes to availing ICICI Bank Business Loans in Chennai. Rightly called as the professional ICICI Bank Business Loan Dealers in Chennai, the team of LoansBazaar, supports in all aspects if you are looking for apply for business loans.
The detailed report on salient business loan features, major documents required, and other eligibility criteria are given below.
ICICI Bank Business Loan in Chennai – Features
- From a minimum amount of Rs 1 lakh to a maximum of Rs 40 lakhs amount is guaranteed to be provided as loan.
- The entrepreneurs are not asked for any forms of collaterals or guarantors.
- The flexible repayment tenure term is from 12 months to 36 months.
- The loans are only provided for professionals and entrepreneurs and the process is quick.
- The overdraft facility is available.
- The business loan includes processing charges from 0.99% to 2%.
- The rate of interest is competitive and affordable, standing at 16.49%.
ICICI Bank Business Loan in Chennai – Eligibility Criteria
- The applicant should be at least 25 years at the time of applying for the loan, and should be no older than 65 years at the time of loan maturity.
- The business should have a minimum turnover of Rs. 60 lakhs
- Individuals who have been in the current business for a minimum of 36 months.
- The CIBIL score should be 750 and above.
- The ITR for a minimum of 24 months is required.
ICICI Bank Business Loan in Chennai – Required Documents
- A duly filled application form and required acknowledgement.
- An address proof of an individual like Aadhar card, voter’s ID, bank statement, registry copy, rent agreement, utility bills are required
- The loan applicants should submit the complete ID proof details which can be either a voter ID, a driving license or a passport. Other Mandatory Documents [Sole Prop. Declaration Or Certified Copy of Partnership Deed, Certified true copy of Memorandum & Articles of Association (certified by Director) & Board resolution (Original)]
- Latest ITR along with computation of income, Balance Sheet and Profit & Loss account for the previous 2 years, after being CA Certified/Audited
- Bank statement of last 6 months
- The relevant financial documents that are to be submitted includes the last 6 months of bank statement, bank passbook, recent IT return with income computation and attested by CA, higher professional degree certificate as a qualification proof.
- The PAN Card and Form 60 along with the business proof.
