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. ₹1499 + applicable tax) 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 14510 Users

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    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN

    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
      "Average service"
      0.5 2.0/5 "Expected more"
      The ICICI bank executives told that the private or public company employees are not eligible to get the loan, They are not interested to give the loan for the people those who own a company. The customer service and the response was average with ICICI bank. The rate if interest charged by them is higher than the normal one.
      Was this review helpful? 0
      , konnagar
      Reviewed on Jul 19, 2017
    • ICICI Bank Personal Loan
      "Average service"
      0.5 1.0/5 "Really Bad"
      I haven't received any kind of calls from ICICI bank in concern to my personal loan application and I am not sure why they have closed my application. The customer service and there response part need to improved with ICICI bank. The rate of interest is nominal with ICICI.
      Was this review helpful? 0
      , bhimavaram
      Reviewed on Jul 19, 2017
    • ICICI Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      ICICI executive gave a call and explained me about the product very clearly and helped me to know about the product briefly . The customer service and the response is very good with ICICI bank. The rate of interest is nominal with ICICI bank. I am happy about the ICICI bank service.
      Was this review helpful? 0
      , ankleshwar
      Reviewed on Jul 19, 2017
    • ICICI Bank Personal Loan
      "Need improvement"
      0.5 3.0/5 "Satisfactory"
      I have applied credit card personal loan twice with ICICI bank, but there was no response in concern to my applications. The customer service and the response is average with ICICI bank. The rate of interest is high when compared with others.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 19, 2017
    • ICICI Bank Personal Loan
      "Not Responsive"
      0.5 2.0/5 "Expected more"
      I approached ICICI bank for the personal loan. I never received proper response from the bank end for my personal loan application. Even they rejected my application stated that the salary is not sufficient to get the loan from them. Finally I dropped my plan.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Jul 19, 2017
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I got the personal loan from ICICI bank through the help of pay sense application . The customer service and the response is good with ICICI bank. The rate of interest is nominal with ICICI bank. I am happy and satisfied with the loan amount.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 18, 2017
    • ICICI Bank Personal Loan
      "Average service"
      0.5 1.0/5 "Really Bad"
      Former part they quoted a different interest rate but at a latter stage they offered me a different interest rate. Therefore ICICI bank needs to stick on their promises. The ICICI bank executives need to be transparent in their service. The ICICI bank customer support and the response was good. They took around 1 month to disburse my personal loan besides that I am very much happy with the loan amount too.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 18, 2017
    • ICICI Bank Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I didn't get the loan from ICICI bank due to some personal issues, so that was the reason I haven't got the loan from ICICI bank. The customer service and the response was average with ICICI bank. The rate of interest is high when compared with others.
      Was this review helpful? 0
      , kharagpur
      Reviewed on Jul 18, 2017
    • ICICI Bank Personal Loan
      "Need to be customer centric"
      0.5 4.0/5 "Great!"
      I have discussed with ICICI executive about the interest rate of my personal loan application but they told it is not possible to reduce the interest rate so that was the reason I haven't availed the loan from ICICI bank. ICICI bank needs to lower the bank interest rate.
      Was this review helpful? 0
      , ariyalur
      Reviewed on Jul 18, 2017
    • ICICI Bank Personal Loan
      "No Response"
      0.5 3.0/5 "Satisfactory"
      Initially I applied for the personal loan with ICICI bank but later I did not take the loan from them because I had postponed the plan for two months. Also I did not receive good response from the bank end for my loan application. To conclude the service rendered by them is very much average.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 17, 2017
    • ICICI Bank Personal Loan
      "Better service"
      0.5 2.0/5 "Expected more"
      I have approached ICICI bank for the personal loan, but they haven't gave any call back in concern to my personal loan application. The customer service and the response needs to be improved with ICICI bank.The rate of interest is nominal with ICICI . The service rendered by ICICI bank is really good.
      Was this review helpful? 0
      , madurai
      Reviewed on Jul 17, 2017
    • ICICI Bank Personal Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      Initially ICICI executive gave a call and explained me about the product but after that no one gave a call back or any response in concern to my personal loan application. The customer service need to be improved with ICICI. The rate of interest is high, when compared with others . The ICICI bank need to be focused a lot in customers as well they need to reduce their interest rate.
      Was this review helpful? 0
      , khammam
      Reviewed on Jul 15, 2017
    • ICICI Bank Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      The ICICI bank executive gave a call and explained me about the product. They told my personal loan application got closed due to some reason, however they did not disclose the reason. The customer service and the response is really good with ICICI bank. The rate of interest is nominal with ICICI . I am very much satisfied using ICICI banking service.
      Was this review helpful? 0
      , allahabad
      Reviewed on Jul 15, 2017
    • ICICI Bank Personal Loan
      "Need Improvement"
      0.5 1.0/5 "Really Bad"
      The ICICI bank representative came to my place to collect the documents and I have told them that I may require the loan in the month august so that was the reason I haven't proceed with the ICICI personal loan. I would say the ICICI bank need to be improved with their quick response. The rate of interest is high with ICICI bank. The ICICI bank management and the banking sector need to be focused a lot.
      Was this review helpful? 0
      , nagpur
      Reviewed on Jul 15, 2017
    • ICICI Bank Personal Loan
      "Response part has to be improved"
      0.5 3.0/5 "Satisfactory"
      If ICICI bank had been more responsible, I would have process for the personal loan. But they didn't coordinate well, the bank executive never revert back for loan process. Even though their interest rate was high, I thought to process with them.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jul 13, 2017
    • ICICI Bank Personal Loan
      "Better"
      0.5 5.0/5 "Blown Away!"
      Actually I approached ICICI bank through third party online source. Because I had received a mail from third party stating that the interest rate would be 10.99% for the personal loan so I applied for the loan, after which they said it is 13.99% and they forwarded my loan application to ICICI bank. I asked the bank to reduce the interest rate from 13.99 to 10.99% but the bank did not reduce it so I informed them to close my loan application.
      Was this review helpful? 0
      , ankleshwar
      Reviewed on Jul 13, 2017
    • ICICI Bank Personal Loan
      "Better Service"
      0.5 3.0/5 "Satisfactory"
      For the personal loan, I approached ICICI bank but due to some reason I had to cancel the application. Otherwise I had no issues with the bank. But I never received an immediate response from the bank, they contacted me after two days when my application has been forwarded to the bank. It would be really good if they provide instant response.
      Was this review helpful? 0
      , mahbubnagar
      Reviewed on Jul 13, 2017
    • ICICI Bank Personal Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      ICICI Bank has contacted me on time for the personal loan. I did not go ahead with them because bank executive said that they don't provide loans to that place where Iam staying and the loan amount I had idea of taking for about five lakhs rupees, rest all okay with this bank.
      Was this review helpful? 0
      , lucknow
      Reviewed on Jul 13, 2017
    • ICICI Bank Personal Loan
      "Need Improvement"
      0.5 1.0/5 "Really Bad"
      ICICI executives gave me a call and explained me about the product in detail. I had given all my details to them and was confirmed that they will give a call back however no turned up. They did not even inform me that my loan application got closed. Both customer service and response needs to be improved with ICICI bank. Even the rate of interest is very much nominal with ICICI.
      Was this review helpful? 0
      , dindigul
      Reviewed on Jul 13, 2017
    • ICICI Bank Personal Loan
      "Average Response"
      0.5 4.5/5 "Excellent!"
      ICICI bank quoted 17.99 % to 18.99% for the personal loan when I applied. I had a call once from ICICI bank and they informed me about the interest rate after that no body from the bank reached out for document collection. There was no response from ICICI bank, meantime HDFC offered the loan with good interest rate so I just switched over.
      Was this review helpful? 0
      , jamshedpur
      Reviewed on Jul 13, 2017
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