What are the Types of Business Loans Offered by ICICI Bank?

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Business Loans from ICICI Bank

Learn about working capital loans, term loans and industry-specific loans from ICICI Bank

Considered as one of the “Big Four” banks in India, ICICI Bank offers a wide range of finance products to different segments of its customer base. Its solutions range from retail and corporate banking services to finance and insurance products and services. Corporate business loans are one of its primary solution and the bank pays special attention to providing working capital to both new and well-established businesses.

The bank offers quite a few business loans to its corporate customers.

Let’s quickly take a look at 6 of them.

No. 1 | ICICI Bank Working Capital Loan

The ICICI Bank Working Capital Loan helps businesses finance their everyday operations. This a perfect loan scheme for businesses that need financial assistance during periods of reduced business activity or other cases when the funds are short to meet the business needs. Seasonal businesses can also benefit from this scheme. The loan amount sanctioned by the bank depends on the needs as well as the repayment capacity of the borrower.

No. 2 | ICICI Bank Loan for New Entities

This is also a type of working capital loan that provides financial assistance to businesses to carry out their day to day activities. However, it is solely targeted towards first-time business borrowers or owners of newly started businesses. The applicable interest rate is determined by ICICI Bank after assessing the business profile, past track record and cash flow of the borrower in addition to other factors.

No. 3 | ICICI Bank Insta-Secured Overdraft (OD) Facility

This is another variation of working capital loan which helps sole proprietorship firms, partnership firms and private limited companies meet their financial needs related to their day-to-day operations. The bank extends this scheme as an Overdraft Facility. The loan amount sanctioned under this scheme ranges from Rs. 15 lakh to Rs. 1 crore

No. 4 | ICICI Bank GST Business Loan

This business loan is similar to the working capital loan schemes. The only difference is that the bank uses the GST returns of the business to assess the profile of the borrower to sanction the loan. The maximum loan amount sanctioned by the bank under this loan scheme is Rs. 2 crore.

No. 5 | ICICI Bank Term Loan

This ICICI Bank loan is designed to provide financial assistance to businesses to carry out activities directly concerning the growth and expansion of the business. All projects are eligible for this loan as long as they are directly related to the future growth of the company. The repayment period for this loan is 7 years.

No. 6 | ICICI Bank Finance for Importers and Exporters

This ICICI Bank business loan helps trading businesses pay for pre-shipment, post-shipment, and other activities. The bank offers this loan in Indian as well as foreign currency depending on the needs of the borrower. The repayment period for each loan depends on the nature of project, quantum of loan, repayment capacity of the borrower, etc.

A Final Word

So that was it for ICICI Bank corporate business loans. If you want to know more about business loans, you may check out our business loans section where we have covered popular business loan schemes offered by Indian banks in some detail.

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