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
    11.00% - 17.99% Fixed
    2.25% (min. ₹1149) One time fee
    20L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval option available
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    Customer Reviews

    ICICI Bank SME Loans is Rated as "Great!" by 14322 Users

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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.

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  • ICICI Bank SME Loans Reviews

    • ICICI Bank Personal Loan
      "Response part has to be improved"
      0.5 2.0/5 "Expected more"
      Due to improper coordination from ICICI, the loan application got closed. From Bank end there was no response on right time. They reached me after three days of my request and collected the documents finally it got closed without any intimation.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Below average service"
      0.5 1.0/5 "Really Bad"
      I haven't got any kind of response from the ICICI bank . It was me who took initiative and made a follow up with the ICICI bank executives to get the personal loan but still no one gave proper responsefrom ICICI bank, that was the reason I haven't proceed my personal loan application with ICICI bank. The rate of interest is bit high , when compared with others. I would say it was a below average service.
      Was this review helpful? 0
      , lucknow
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "High on ROI & charges"
      0.5 3.0/5 "Satisfactory"
      I did not go ahead with ICICI Bank because I was offered a high rate of interest. I got a rate of around 15% where as I was getting lesser rates from other banks for the personal loan. The services and response was on time and there were couple of follow up calls too.
      Was this review helpful? 0
      , ernakulam
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Loan process should be fleixible"
      0.5 2.0/5 "Expected more"
      ICICI was looking for last six bank transactions, I have an account with SBI but I have a transaction around five years. Hence ICICI have rejected my personal loan application. I have submitted all of my documents, they have check my credit score as well finally they rejected it.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Better Service"
      0.5 4.0/5 "Great!"
      The ICICI bank gave a call and asked me from which company I am receiving the salary and I told my company name but I am receiving the salary from 2 different company names , so very next day I got a text from ICICI bank saying that My personal loan application got cancelled. The customer service and the response was good with ICICI bank. The rate of interest is nominal with ICICI bank. I would say it was an average service from ICICI bank.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Interest rate should be flexible"
      0.5 1.0/5 "Really Bad"
      Initially when I applied for the personal loan through online channel, they committed I would be getting the interest rate around 14% for the principal amount of Rs. 1.5 lakhs but ICICI bank offered me 17% of interest. First time my loan application got closed but again I approached ICICI and took the loan due to emergency purpose.
      Was this review helpful? 0
      , bhilwara
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Average Service"
      0.5 2.0/5 "Expected more"
      The major issue with ICICI was, there were in need of a permanent address proof, however I keep traveling from one place to another as that was my job nature, also they were in need of permanent office address proof as I dont hold one ICICI Bank refused to approve the loan a latter stage. Their customer service executive needs to know what needs to be done in order for the customer to get the loan. Also their interest rate is high when compared with others.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Provide the reason for declining"
      0.5 2.0/5 "Expected more"
      ICICI bank contacted me for the personal loan and the executive came over and collected the documents. The process was on and later the loan was rejected. They have not given me the reason of rejection, which was not satisfactory. The interest rate and charges were very much normal.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Average service"
      0.5 2.5/5 "Just OK"
      ICICI Bank was very keen when it comes to documents collection, they were in need of more number of documents. I had submitted all the relevant documents with ICICI. Rate of interest was in line with the market rate. Also I had got an average service from ICICI.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Average"
      0.5 3.5/5 "Pretty good"
      ICICI Bank contacted me and provided all the details for the personal loan. The documentation was also taken. The bank did not process the loan because I do not have a existing credit history as this is my first time applying for a loan and I not hold a credit card as well.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Documenation process should be easier"
      0.5 2.0/5 "Expected more"
      ICICI documentation process was very inconvenient. When I applied for the personal loan, I got a call and requested me for the Form 16 and attested bank statements, I am not fine with that. So I thought not process with ICICI bank for the personal loan.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Average Service"
      0.5 4.0/5 "Great!"
      ICICI told that my salary has not met their eligibility criteria to process my personal loan application. The customer service and the response was not up to the mark with with ICICI bank. The rate of interest was high when compared with others. The customer service with ICICI bank need improvement in future.
      Was this review helpful? 0
      , muzaffarpur
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Above average service"
      0.5 4.0/5 "Great!"
      I was not available at my place when ICICI executive came for the verification, so that was the reason ICICI bank has cancelled my personal loan application. The rate of interest is higher than other bank, Intially they have promised for differnet interest rate and after that they have increased the interest rate. The customer service with ICICI bank was good. It was an avergae service with ICICI bank.
      Was this review helpful? 0
      , gondia
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Communication part should be improved"
      0.5 1.0/5 "Really Bad"
      I am not aware why ICICI Bank rejected my personal loan application. Because, I have submitted all the documents to them, finally it got rejected without informing me also the reason was not disclosed to me. I didn't get any sort of communication from them, whatever it may be they should communicate to the customer, they should not reject the application without intimating it to the customer.
      Was this review helpful? 0
      , thiruvallur
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Good service can do better"
      0.5 3.0/5 "Satisfactory"
      I have got the loan amount through some other source that was reason, why I haven't got personal loan with ICICI bank. The rate of interest is nominal with ICICI bank. The customer service and the response was good with ICICI. I would say it was an average service with ICICI bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      The interest rate offered by ICICI Bank is relatively too high, that was the reason I didn't proceed ahead with the ICICI bank loan. The ICICI executive gave a call and explained me about the products. I would like to suggest that ICICI bank can reduce interest rate in future. Further, I have got a good service from ICICI bank.
      Was this review helpful? 0
      , amritsar
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Very Good service"
      0.5 4.0/5 "Great!"
      ICICI bank hardly took around 4 days of time to disburse my personal loan . The documentation process was done in a processed way. The rate of interest is very much nominal, when compared with others. The required loan amount was disbursed by ICICI bank and I am happy about the loan amount. To summarize, I would say I am very much satisfied with the ICICI Banking service.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      After me applying for a personal loan with ICICI bank, I received one call from them and the lady collected my information and hung up. After which I got no calls from them. Not very sure on the rate of interest and processing charges. I could not proceed for the loan.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 23, 2017
    • ICICI Bank Personal Loan
      "Its GOOD"
      0.5 3.0/5 "Satisfactory"
      I have cancelled ICICI personal loan because I was holding my salary account with Standard Chartered bank. Hence I thought to process the loan with existing bank to make process easier. Therefore I didn't avail the personal loan from ICICI but it is good.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 22, 2017
    • ICICI Bank Personal Loan
      "Response part has to be improved."
      0.5 3.0/5 "Satisfactory"
      I am unhappy with ICICI banking service, without my intimation ICICI closed my personal loan application. I tried reaching the bank, but unable to contact them. I have submitted all of my documents to ICICI but no response. They should improve on the response part and they should provide a better service too.
      Was this review helpful? 1
      , chennai
      Reviewed on Jun 22, 2017
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