ICICI Business Loan Introduction:

ICICI Business Loan has been successful in providing the much needed relief to any individual looking forward to short term working capital requirement, or to renovate premises through ICICI Business Loan also known as ‘Business Advantage Loan’.

Traders,

Retailers,

Whole Sellers, etc can avail the loan to meet short term working capital requirement to grow and manage their business. ICICI Business Loan Review shows that the competitive ICICI Business Loan Interest rate is the reason for many businesses opting for ICICI Business Loan.

ICICI Business Loan Interest Rate:

ICICI Business Loan rate is linked to ICICI Bank Benchmark Advanced Rate or IBAR. Current ICICI Business Loan Interest rate is IBAR+3%. IBAR is subject to change and ICICI Business Loan rate will be based on IBAR at time of limit set up.

ICICI Business Loan Eligibility:

ICICI Business Loan review shows that ICICI Business Loan eligibility criteria are:

• ·Loan repayment track record.
• ·Audited financial statements of last 2 years.
• ·Applicants must have Sales Tax registration or license/permit.
• ·Investment in plant and machinery is less than 5 crore. 

ICICI Business Loan eligibility makes it easy for most businesses to apply for ICICI Business Loan.

Whosoever is able to meet the ICICI Business Loan eligibility criteria is eligible to an ICICI Business Loan with the loan amount ranging from Rs. 25 lacs to Rs. 5 Crores.

Documentation process for ICICI Business Loan Rate is easy and the common documents required are

Proof of identity

Proof of address

Filled Application Form

Two Photographs

ICICI Business Loan Review shows that additional documents required are

Latest ITR,

Bank Statements, and

Registration Certificate

Balance Sheet and Profit and Loss Account

ICICI Business Loan Review shows that ICICI Business Loan can be availed for maximum loan tenure of 12 to 36 months that can be repaid in easy equated monthly installments. The loan can be processed and disbursed in 25 days after document submission. Visit the branch for details on penalty for prepayment etc.

ICICI Business Loan Tax Benefits:

One can get tax benefits if any according to the Income Tax Act 1961 which varies yearly according to the changes made by the Government.

More details on ICICI Business Loan eligibility and ICICI Business Loan Interest Rate etc. are on the official site at http://www.icicibank.com/