Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 1 ICICI Bank SME Loans
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    10.99% - 17.99% Fixed
    2.25% (min. ₹1,499 + applicable tax) One time fee
    20L Max
    1-5 Years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval available
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    Customer Reviews
    ICICI Bank SME Loans is Rated as "Great!" by 16249 Users

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    ICICI Bank SME Loans

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    Overview about ICICI Bank SME Loans

    ICICI Bank is an Indian multinational banking and financial services organisation offering products and services across consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, savings, securities, asset management, wealth management, credit cards and many others. It was founded in 1994 and is headquartered in Vadodara, Gujarat with corporate headquarters in Mumbai, Maharashtra.

    ICICI Bank is one of the Big Four banks of India and offers lucrative rates on its loan products. ICICI Bank has reduced its base rate following the repo rate cut and thus loans from ICICI are pretty good when compared to others in the bank. A lower base rate means lower interest rates, even for schemes meant for small scale industries and entrepreneurs.

    Loans available under ICICI Bank SME Loans

    As of November 2015, ICICI offers traditional facilities for loans meant for small-scale industries and/or businesses. They are as follows

    1. Working Capital Finance – Working capital finance is provided through cash credit or overdraft facility and it helps in the day-to-day running of the business
    2. Export Credit & Letter of Credit – An Export Credit aids in financing pre-shipment and post shipment processes. A Letter of Credit is meant for aiding trading purposes
    3. Bank Guarantee – An undertaking or promise given by ICICI Bank to the clients, customers and/or partners of the small business that the small business or the trade initiated by the entrepreneur will always be meeting financial and performance obligations. Any shortcomings on the part of the business are aptly covered by ICICI bank
    4. Term Loan – ICICI Bank provides financing under this facility to small businesses in order to help them purchase business related assets and also in processes that can promote the growth of the business.

    Interest rates for any particular loan is entirely dependent on the discretion of ICICI Bank. However, as of November 2015, secured loan facilities have an interest rate up to Base Rate + 5.00% per annum, facilities backed by CGTMSE can have an interest rate up to Base Rate + 3.10% per annum and unsecured facilities can have a higher limit interest rate of Base Rate + 7.50% per annum. The Base Rate of ICICI Bank as of November 2015 is 9.70% per annum.

    Loan securities can be anything from residential, commercial, industrial properties to liquid securities. The loan tenures can be as high as 7 years and the eligible entities for availing these loans can be Sole Proprietorship Firms, Partnership Firms, Private limited Companies and Public limited Companies.

    The above schemes from ICICI Bank are applicable across India. The base rate of ICICI Bank as of November 2015 is slightly higher than government-owned banks. Based on the changes to the base rate, the individual rates of dependent loans might vary. ICICI might also make changes to the interest rates of the loans as per its discretion.

    ICICI Bank SME Loans Reviews

    • ICICI Bank Personal Loan
      "Better"
      0.5 3.0/5 "Satisfactory"
      Customer service is okay one with the ICICI bank and the response is good one for the personal loan. The loan amount got disbursed within four days of time, also the services are better one with the ICICI bank and I have not faced any issues with them.
      Was this review helpful? 0
      , pune
      Reviewed on Nov 23, 2017
    • ICICI Bank Personal Loan
      "Average"
      0.5 1.0/5 "Really Bad"
      Customer service and other things are quite good one for me with the ICICI bank and the response is fine one. I would like to say that the rate of interest is fine one with the ICICI bank, also I have not faced any hiccups on it.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 23, 2017
    • ICICI Bank Personal Loan
      "Needs to improve"
      0.5 1.0/5 "Really Bad"
      I have applied for the personal loan from ICICI bank, my loan application was close because there was no proper follow up done after the application was submitted. Customer service part was not up to the mark, there was no response from them and they did not follow up further. The rate of interest is nominal when compared to other banks.
      Was this review helpful? 0
      , bareilly
      Reviewed on Nov 22, 2017
    • ICICI Bank Personal Loan
      "Unhappy with the services. "
      0.5 2.0/5 "Expected more"
      ICICI Bank has contacted me initially for the personal loan. They did not collect the documents and after which the bank has rejected the loan without giving me any reason for it. Not sure on the interest rate and processing charges. I am not happy with the is experience.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 22, 2017
    • ICICI Bank Personal Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      ICICI Bank is overall good in the response. I had applied for a personal loan and they contacted me on time and informed me the necessary details. I could not proceed ahead because I did not have the pay slip as requested. The interest rate and charges are very much normal.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 22, 2017
    • ICICI Bank Personal Loan
      "Good. Can do better"
      0.5 3.0/5 "Satisfactory"
      ICICI Bank is overall good but can be better in the customer services. They can be more quick in the process. The rate of interest is normal and the processing charges is also normal. It was for a personal loan and the after loan services are good overall.
      Was this review helpful? 0
      , kolkata
      Reviewed on Nov 21, 2017
    • ICICI Bank Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have applied for the personal loan from ICICI bank, my loan application was closed because the rate of interest was way high when compared to other banks. They initially said that ROI will be 11% and later on they changed to 15%, there was no proper guidance. Customer service was not up to the mark and they did not respond in time.
      Was this review helpful? 0
      , jhajjar
      Reviewed on Nov 21, 2017
    • ICICI Bank Personal Loan
      "Needs to improve with ROI"
      0.5 3.0/5 "Satisfactory"
      I have applied for the personal loan from ICICI bank, my loan application was closed because after submitting the documents, they were supposed to send an OTP and also there was a network issue so the application was closed. Customer service was good and they responded on time. The rate of interest was high when compared to other banks.
      Was this review helpful? 0
      , guwahati
      Reviewed on Nov 20, 2017
    • ICICI Bank Personal Loan
      "Good response"
      0.5 4.0/5 "Great!"
      I got good response from ICICI bank end, but at that time i had no requirement so i close the loan application with ICICI. In future if i am planning to take a loan the i could definitely consider ICICI. They response from their end was really good.
      Was this review helpful? 0
      , meerut
      Reviewed on Nov 20, 2017
    • ICICI Bank Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I have taken a personal loan with ICICI bank the loan amount is 5 lakhs.the rate if interest is 12.75% nominal like other banks.They had deducted 2% as processing fees from the principal amount,foreclosure is 5% including GST.No part payment option is avialible with this bank.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Nov 20, 2017
    • ICICI Bank Personal Loan
      "Looking for better service"
      0.5 3.0/5 "Satisfactory"
      ICICI have rejected my personal loan request without giving any proper information. They told as per their internal norms they have closed the request. Even ICICI bank interest rate is quite higher than other bank. I am not fine with them, hence I wont suggest this service.
      Was this review helpful? 0
      , nuzvid
      Reviewed on Nov 20, 2017
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have applied for the personal loan from ICICI bank, my loan application was closed because the company was not listed in their norms. The customer service from ICICI bank was good and they responded on time. The rate of interest was nominal when compared to other banks.
      Was this review helpful? 0
      , mohali
      Reviewed on Nov 20, 2017
    • ICICI Bank Personal Loan
      "Poor service"
      0.5 1.0/5 "Really Bad"
      I have applied for a personal loan with ICICI bank. They collected the documents by next day but they rejected my personal loan application stating that my address is not in their serviceable area list but for namesake they called me and collected the documents.
      Was this review helpful? 0
      , jammu
      Reviewed on Nov 20, 2017
    • ICICI Bank Personal Loan
      "No proper response"
      0.5 4.0/5 "Great!"
      I have applied for a personal loan with ICIC bank. I got the call once and confirmed me with the application and later they come to collect the documents. After that one one contacted me. They did not gave me any reason. Later my application got closed.
      Was this review helpful? 0
      , anuppur
      Reviewed on Nov 20, 2017
    • ICICI Bank Personal Loan
      "Needs to improve"
      0.5 1.0/5 "Really Bad"
      I have applied for the personal loan from ICICI bank, my loan application was closed because they were asking to take the insurance policy mandatory and also to open a savings account with this bank. Customer service was not up to the mark, their is no option for not to take an insurance policy. The rate of interest is way high when compared to other banks.
      Was this review helpful? 0
      , bhuj
      Reviewed on Nov 20, 2017
    • ICICI Bank Personal Loan
      "Good customer service"
      0.5 3.0/5 "Satisfactory"
      I have applied for the personal loan from ICICI bank, my loan application was closed because i have taken loan from other source. When it comes to customer service, it was good, they responded on time and also followed up correctly. The rate of interest was way high when compared to other sources in the market.
      Was this review helpful? 0
      , noida
      Reviewed on Nov 20, 2017
    • ICICI Bank Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I had applied for a personal loan with ICICI bank. They collected the documents the next day but there was no proper response from the bank end as well as from the reporting manager. Later he didn't call me to inform this but they disbursed my loan after some days.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 20, 2017
    • ICICI Bank Personal Loan
      "Poor Service"
      0.5 1.0/5 "Really Bad"
      I have applied for a personal loan with ICICI bank. They collected the documents by next day but ICICI bank rejected my loan application stating that my salary is Rs. 18000 less than their loan eligibility criteria they told all this after my documentation process got over.
      Was this review helpful? 0
      , jodhpur
      Reviewed on Nov 20, 2017
    • ICICI Bank Personal Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I have applied for a personal loan with ICICI bank. They collected the documents by next day and said that the loan will be disbursed within 1 week but done in 3 weeks of time. They offered me the loan with 10.99% as the rate of interest and the processing fees was Rs. 1500 which is also little high. And no status was given properly to me, I followed up from my side.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 20, 2017
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have applied for a personal loan with ICICI bank. They collected the documents within 2 days itself and they took lot of time to approve the loan and disbursed my funds after follow up was done repeatedly from my end. I don't remember how much is the rate of interest and the processing fees.
      Was this review helpful? 0
      , pune
      Reviewed on Nov 20, 2017
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