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Business Loans


Managing finance is arguably the most important component of any business. For MSME, timely finance is the key to making the most of business opportunities. Keeping this in mind, we bring to you a host of innovative loan and overdraft products that can make all the difference to your bottom line.

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Our business banking loan segment offers you a host of innovative products and flexible services which are customised to meet your evolving financial needs through our wide branch network.

1) Working Capital Finance /Term Loan

a) Business Loan under Micro Enterprises Credit (MEC)

Pre Qualified limits based on past track record for current account holders , No financial analysis , No charge on Current assets.

Facility Offered :

  • Overdraft for meeting working capital finance requirement
  • Term Loan for purchase of commercial assets & business expansion needs

Acceptable collateral:
Re sidential/Commercial/Industrial properties. Vacant land can be accepted as collateral

Eligible entities:
Sole Proprietorship Firms,Partnership Firms,Private limited Companies,Public limited Companies

Eligible business segment:
Manufacturers, Service, Traders

2) Unsecured Loan:

 

a) Business Loans Backed by CGTMSE :

This is a Collateral free facility specially designed under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme of SIDBI and Ministry of Small and Medium Enterprises.

Facility Offered :

  • Cash credit for meeting working capital finance requirement
  • Term Loan for purchase of commercial assets & business expansion needs

 Eligible entities:

Sole Proprietorship Firms,Partnership Firms,Private limited Companies, Public limited Companies

Eligible business segment:
Manufacturers

 

b) Small Business Loan:

This is a collateral free loan up to 2.5 millions.

Facility Offered :

  • Overdraft for meeting working capital finance requirement

Eligible entities: Sole Proprietorship, Partnerships Firms

Eligible business segment: Traders

 

3) Secured Loan :

This is a Collateral based lending product.

Facility Offered :

  • Cash Credit / Overdraft for meeting working capital finance requirement.
  • Export Credit to provide Pre-Shipment& Post Shipment finance .
  • Letter of Credit to facilitate trade.
  • Bank Guarantees for meeting performance and financial obligations.
  • Term Loan for purchase of commercial assets & business expansion needs

Acceptable collateralResidential/Commercial/Industrial property, liquid securities

Eligible entities: Sole Proprietorship Firms, Partnership Firms, Private limited Companies, Public limited Companies

4) Secured Lending for Merchant Establishment

This is a Funding to Retailers and Merchant Establishments on the basis of Credit card swipes. New merchant establishments (6 month vintage) can also be funded with certain conditions

 Facility Offered :

  • Overdraft for meeting working capital finance requirement

 Acceptable collateralSelf occupied commercial and residential property in the same city as that of the borrower

Eligible entities: Sole Proprietorship Firms, Partnership Firms, Private limited Companies, Public limited Companies

BENEFITS

  • Fast processing - De-centralised operations for fast processing and quick availability of loans
  • Convenient Documentation - Convenient documentation process to offer ease and flexibility
  • Dedicated and exclusive relationship managers - Dedicated relationship managers to provide complete financial solutions
  • Attractive Pricing - Low interest rates and commission charges
  • Priority sector clients - Attractive pricing offered for customers under priority sector lending
  • Fast and Easy renewals - Hassle free renewals with less documentation
  • Easy Accessibility - Leverage on our anywhere banking services through 3000 plus branch network

CHARGES APPLICABLE:

Processing Fees - Loan processing fees shall be charged based on loan sanctioned amount

Interest - Pricing shall be linked to ICICI Bank's Base rate* for fund based facility

Commission - Shall be charged on pro rata basis based on the tenure and the amount of non-fund based facility being availed

*ICICI Bank Base rate at present is 10.0%p.a .The same is subject to change from time to time

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