Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 1 ICICI Loans for New Entities

    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
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews

    ICICI Loans for New Entities is Rated as "Great!" by 14369 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN

    How to get Loans for New Entities in ICICI Bank

    ICICI Bank offers business loans for those who have been around for a while and also for those who have just started a new venture. Business loans provided by ICICI Bank are designed specifically for manufacturing, retail, wholesale, trading and service industries.

    Features of ICICI Loans for New Entities

    The features of Loans for New Entities are as follows:

    • Cash credit or overdraft or export credit and non-fund based facilities is provided to manufacturers, traders and service providers that are 1 year or older.
    • Terms loans are offered for purchased of commercial assets and to meet the business expansion needs.
    • Flexible collateral options are offered in terms of residential or commercial or industrial properties. Even liquid securities are accepted as collateral.
    • Working capital finance requirements is offered to:
      • Sole Proprietorship firms
      • Partnership firms
      • Private limited companies
      • Trusts and societies
      • Public limited companies
  • Competitive interest rates are offered for Loans for New Entities. The interest rate is determined on the assessment of the borrower’s business profile, past track record, financial assessment record, loan amount and the loan tenure.
  • Documents required for ICICI Loans for New Entities

    The following documents are to be submitted along with the duly filled application form:

    • Firm profile
    • List of 5 major suppliers and customers
    • Constitution documents
    • Audited financial statement of the last two years with ITR
    • Last 6 months bank statement
    • IT pan card of Promoters or Directors or Partners
    • Self-certified provisional and projected balance sheet and profit and loss account
    • Proprietor’s or Partner’s or Directors personal ITR
    • Current profit and loss sheet
    • VAT assessment order or Sales tax registration certificate
    • Latest list of Directors
    • Form number 32
    • Partnership registration certificate
    • Audited 1 years financials of sister concern
    • Agreement with principal
    • Existing bank sanction letters
    • Formalities for creation of charge on security
    • Authority letter for security execution
    • Notarized Partnership Deed
    • Net worth Certificate by CA.
    • End use letter
    • List of assets
    • Satisfactory conduct report from existing bankers
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  • ICICI Loans for New Entities Reviews

    • ICICI Bank Personal Loan
      "Good Service"
      0.5 4.5/5 "Excellent!"
      The ICICI bank has rejected my personal loan application , saying that my salary didn't met their eligibility criteria , and they asked me to approach after 3 months. The customer service with ICICI bank is really good. The rate of interest is nominal with ICICI bank.
      Was this review helpful? 0
      , lucknow
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      Presently, I am living and working at one place however I had applied for a personal loan at a different locality. Therefore ICICI executive confirmed that both my residential and work place were different and that was the reason why I did not opt for the personal loan. Rate of interest seems to be normal also the customer service and response provided by ICICI Bank is good.
      Was this review helpful? 0
      , secunderabad
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      There was a duplicate account issue with ICICI bank, initially they rejected my loan later 2nd time they approved my personal loan. The rate of interest levied by them is way too high when compared with others. Both customer service and response provided by ICICI bank was really good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      Rate of interest offered by ICICI bank is relatively too high when compared with other banks that was the reason why I did not proceed further with the personal loan. Customer service and response provided by ICICI bank was really good. Also it would be great if they reduce the interest rate too In all I would say it is a good service provided by ICICI bank.
      Was this review helpful? 0
      , zahirabad
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Its Good"
      0.5 4.0/5 "Great!"
      I was requested the amount of Rs. 5 lakhs , but ICICI approved the loan only for Rs. 80,000 because my existing car loan was running with Kotak Mahindra. Hence they were reduce the principle amount, I am not fine with that loan amount, therefore I dropped to process with ICICI.
      Was this review helpful? 0
      , erode
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Its Better"
      0.5 3.0/5 "Satisfactory"
      ICICI requested for some documents from my end, due to my busy schedule I didn't submit the documents to the bank. Hence they have closed the application. I never got any intimation from the bank end about the application status. Whatever it may be they should be communicated the same to the customer.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Better Service"
      0.5 4.0/5 "Great!"
      ICICI Bank executive stated that my salary did not meet their bank criteria and that was the reason why I opted out of ICICI personal loan. Besides that, The response and the customer service provided by ICICI bank is really good. Even the rate of interest levied by them is very much nominal.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Better service"
      0.5 2.0/5 "Expected more"
      I didn't get any response from ICICI , I almost waited for a week. The guy who collected my documents, they said will check the papers and get back but they never responded back. Therefore I approached AXIS bank for the personal loan and I got my disbursement.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Transparency should be there"
      0.5 2.0/5 "Expected more"
      When I applied ICICI personal loan through online channel it showed the interest rate around 14.29% but when I processed my application with ICICI. They gave me the interest around 14.7%. Then I raised a request to reduce the interest rate, ICICI promised to provide the best rate but finally they didn't offer me.
      Was this review helpful? 0
      , patti
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Loan process should be flexible"
      0.5 1.0/5 "Really Bad"
      I am doing own business but ICICI requested me to submit the salary slip and they not providing the loan to the business person. I do have all the documents, including IT return etc but they didn't accept this. ICICI expecting the salary slip from me, it is not possible from the business person.
      Was this review helpful? 0
      , umbergaon
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have got the loan through the financial channel partner from ICICI bank. Within 7 working days they have disbursed my personal loan. The rate of interest is nominal when compared with others. The ICICI confirmed that based on the interest rate they will decide the interest rate.
      Was this review helpful? 0
      , mundra
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "System needs improvement"
      0.5 1.5/5 "Bad"
      There is a kind of system issue with ICICI bank they were asking me to provide the Form 16 which is a practise by corporate sectors. Since I have 2 years of academic experience i could not provide these documents handy. ICICI has closed my personal loan application. The customer service documentation department told that they will get back to me on this issue in 5 mins but none turned up. The rate of interest is high when compared with others.
      Was this review helpful? 0
      , mysore
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Looking for a better Service"
      0.5 3.0/5 "Satisfactory"
      Through online channel, I had applied for a personal loan with ICICI, they came and collected the documents, I was expecting an amount of RS. 7 lakhs they committed the same. Finally they gave me wrong commitment and informed they can approve only the amount of Rs.6 lakhs. I am not fine with that and their way of approach is not good, they should be more polite to the customer.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Looking for a better Service"
      0.5 3.0/5 "Satisfactory"
      Through online channel, I had applied for a personal loan with ICICI, they came and collected the documents, I was expecting the amount of RS. 7 lakhs they committed the same. Finally they gave me wrong commitment and informed they can approve only the amount of Rs.6 lakhs. I am not fine with that and their way of approach is not good and they should be more polite to the customer.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Need Improvement"
      0.5 1.5/5 "Bad"
      I haven't got proper response from ICICI bank in concern to my personal loan application. They have promised they will give a call back but no one turned up which is disappointing . The rate of interest is low when compared with others. I would like to suggest the ICICI to give proper response to the customers. The ICICI executive fails to guide the customers in proper way.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Response part has to be improved"
      0.5 2.0/5 "Expected more"
      I have submitted all the documents to the bank finally ICICI bank told me I am not eligible to take personal loan and they closed my loan application. ICICI didn't give clear information about the status of application. It would be great if they improve on the service part.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jun 28, 2017
    • ICICI Bank Personal Loan
      "Good Service"
      0.5 2.0/5 "Expected more"
      The ICICI bank executive asked to submit the bank statements to process with the personal loan, but I can't submit the bank statements,so that was the reason I haven't proceed with ICICi bank personal loan. The customer service and the response was good with ICICI bank. The rate of interest was nominal with ICICI bank. The service with ICICI was good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 27, 2017
    • ICICI Bank Personal Loan
      "Interest rate should be flexible as per the market"
      0.5 3.0/5 "Satisfactory"
      I had experienced a time lag with ICICI bank as they have taken some time to collect the documents, finally they disbursed the amount. I took the amount of Rs.1 lakhs with 16.99% of interest it is high compared to other bank. My loan tenure is for three years but I can do the preclosure after six months, however I should pay the charges of 5% from the principal amount.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 27, 2017
    • ICICI Bank Personal Loan
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I have informed ICICI executive that there is no loan requirement at present as I got loan with Axis bank, that was reason I haven't proceed with ICICI bank loan. The Rate of interest was high with ICICI bank. The customer service and the response was good with ICICI bank. They need reduce the interest rate and processing fee.
      Was this review helpful? 0
      , kakinada
      Reviewed on Jun 27, 2017
    • ICICI Bank Personal Loan
      "Response part has to be improved"
      0.5 1.0/5 "Really Bad"
      I was not received any proper response from ICICI, initially I got some couple of calls their executive came and collected the documents. Finally there was no response and I am not aware what was the reason ICICI have rejected my application. I have applied personal loan on 29th of may but still there was no response from them.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 27, 2017
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