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

    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.1000 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 13953 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
      "Not Satisfied"
      0.5 1.0/5 "Really Bad"
      I preferred ICICI bank for the personal loan. But the bank demanded me to provide salary payslip which I could not produce so I had to close the loan application with ICICI bank. But I got the loan from Karur Vysya bank. ICICI should have been provided alternate options for the documents.
      Was this review helpful? 0
      , erode
      Reviewed on May 25, 2017
    • ICICI Bank Personal Loan
      "Its Average"
      0.5 1.0/5 "Really Bad"
      I have submitted all the documents to the bank, but process was not completed. I was staying in malkapur location it was not there in their system. Hence they have rejected the application and they didn't give any other option to take personal loan.
      Was this review helpful? 0
      , aurangabad
      Reviewed on May 25, 2017
    • ICICI Bank Personal Loan
      "Be more clear in details"
      0.5 2.0/5 "Expected more"
      ICICI bank was not up to the mark for the personal loan application. After me applying for the personal loan, the team collected my papers and they did not collect it at one shot. When I was out of town, they contacted me for more papers as they did not inform me about the same initially. I asked them to call me back for the balance documents, but no one did. So I went ahead with another bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 25, 2017
    • ICICI Bank Personal Loan
      "Service Is Not Good"
      0.5 3.0/5 "Satisfactory"
      I had a little concern with ICICI Bank related to the personal loan application process, the bank executive said after seeing my documents that loan cannot be processed they did not see the compelte set of documents. And I have received call from the bank after 15 days of time.
      Was this review helpful? 0
      , lucknow
      Reviewed on May 25, 2017
    • ICICI Bank Personal Loan
      "Its Better"
      0.5 4.0/5 "Great!"
      I had postponed the plan for a month because I had already taken a personal loan with other bank hence I postponed. But I tried checking my loan eligibility with ICICI but there was no response for loan transfer option from other bank to ICICI bank.
      Was this review helpful? 0
      , hosur
      Reviewed on May 25, 2017
    • ICICI Bank Personal Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      ICICI gave good response on my personal loan application. The rate of interest is high with ICICI when compared with others. But then I didn't get the loan with ICICI because there was no need for it. When I need a loan, then I will surely choose ICICI bank for the personal loan.
      Was this review helpful? 0
      , gorakhpur
      Reviewed on May 25, 2017
    • ICICI Bank Personal Loan
      "Need improvement in documentation process"
      0.5 3.0/5 "Satisfactory"
      I did not got the loan from ICICI bank, because they have asked to me upload the documents through net banking and I had down it twice, still they told me to submit the same documents again, that was the reason I haven't got the personal from ICICI bank. There was no response from ICICI bank after the documentation process.
      Was this review helpful? 0
      , hosur
      Reviewed on May 25, 2017
    • ICICI Bank Personal Loan
      "Response has to be improved"
      0.5 1.0/5 "Really Bad"
      Due to credit score, I am unable to take loan from ICICI then I have taken loan from HDFC for one lakh. ICICI service is good but their response is not up to the mark, ICICI person have called after a week and informed my credit score is not good hence the application got closed.
      Was this review helpful? 0
      , mangalore
      Reviewed on May 25, 2017
    • ICICI Bank Personal Loan
      "Not Satisfactory"
      0.5 1.0/5 "Really Bad"
      I had applied for a personal loan with ICICI Bank and the bank contacted me as well and collected my details. But they have not logged in my details for the loan. After which I received no follow up calls. I am not happy with the bank services and the interest rate was high too.
      Was this review helpful? 0
      , gurdaspur
      Reviewed on May 25, 2017
    • ICICI Bank Personal Loan
      "Need improvement"
      0.5 4.0/5 "Great!"
      The ICICI executives did not gave a response in concern to my personal loan application. The rate of interest is nominal which they have offered for my personal loan, It would be great If ICICI gives prompt response to their customers. Overall ICICI should improve their process.
      Was this review helpful? 0
      , jamshedpur
      Reviewed on May 25, 2017
    • ICICI Bank Personal Loan
      "Need to be improved "
      0.5 4.0/5 "Great!"
      I haven't had a bank statements to proceed with the personal loan with ICICI bank, that was the reason I haven't got the loan from ICICI bank. The response and the follow up was good with ICICI. I Got nearly 8 calls from ICICI bank and the bank asked for the details. But no one gave me reason why my personal loan got cancelled with ICICI bank.
      Was this review helpful? 0
      , salem
      Reviewed on May 25, 2017
    • ICICI Bank Personal Loan
      "High on ROI"
      0.5 3.0/5 "Satisfactory"
      ICICI Bank was quick to respond when I approached them for a personal loan. They were quick in responding as well. I did not go ahead because the rate of interest and processing charges was very high when compared to the other banks. I got a rate of around 15%.
      Was this review helpful? 0
      , baddi
      Reviewed on May 25, 2017
    • ICICI Bank Personal Loan
      "Unsatisfied service"
      0.5 1.0/5 "Really Bad"
      ICICI people have called me on my official number, I asked them to reach on my personal number for the loan process. Then there was no revert and nobody contacted me to collect the documents. Then I dropped the plan to avail the personal loan from them.
      Was this review helpful? 0
      , cooch behar
      Reviewed on May 25, 2017
    • ICICI Bank Personal Loan
      "High interest rate"
      0.5 3.0/5 "Satisfactory"
      I had checked for the interest rate with ICICI bank for the personal loan. It was very high with ICICI bank than all the other banks so I just cancelled my application with them and taken from Bajaj for the normal interest rate. Other that interest rate, customer service is ok.
      Was this review helpful? 0
      , kochi
      Reviewed on May 25, 2017
    • ICICI Bank Personal Loan
      "They stop giving false statement"
      0.5 1.0/5 "Really Bad"
      When I called ICICI bank for the personal loan, they took longer duration to respond, I written feedback about their customer service but there was no proper revert. The local guys who works for ICICI they gave false information and their communication part is also very bad they taken 20 days to process, but in Bajaj once the document submitted they immediately sanctioning the loan.
      Was this review helpful? 0
      , kakinada
      Reviewed on May 25, 2017
    • ICICI Bank Personal Loan
      "Better service"
      0.5 4.0/5 "Great!"
      My loan requirement was fulfilled through some other source and that was the reason why I opted out of this personal loan from ICICI also I had requested them to close my personal loan application. The response and the followup was very good with ICICI. Totally, I am very much satisfied with the service provided by ICICI Bank.
      Was this review helpful? 0
      , chennai
      Reviewed on May 25, 2017
    • ICICI Bank Personal Loan
      "Its Better"
      0.5 3.0/5 "Satisfactory"
      I felt ICICI interest rate is high, because HDFC is offered me around 13% of interest on personal loan. Hence I requested ICICI bank to provide same interest rate but they were willing to offer only 14.5%. I am not fine with that. Therefore I approached HDFC for the same loan and now its under process.
      Was this review helpful? 0
      , nellore
      Reviewed on May 25, 2017
    • ICICI Bank Personal Loan
      "Satisfactory service"
      0.5 3.0/5 "Satisfactory"
      I had received a call from ICICI bank with respect to the loan. I was asked to produce 100 Rupees rental agreement form , however I was able to produce only Two 50 rupees rental agreement forms and there the process stopped. On the other hand response and the support provided by them was good expect for these rental forms as I had all the documents handy . In all its was a satisfactory service.
      Was this review helpful? 0
      , tandur
      Reviewed on May 25, 2017
    • ICICI Bank Personal Loan
      "Lack of response"
      0.5 3.0/5 "Satisfactory"
      I had applied for a personal loan with ICICI Bank. The bank contacted me initially and later they did not follow up as promised. It was not a very satisfactory experience with this bank so I went ahead with another option. Not sure about the interest rate and charges as I did not go up to that level of discussing about the rates.
      Was this review helpful? 0
      , nagercoil
      Reviewed on May 25, 2017
    • ICICI Bank Personal Loan
      "Better Service"
      0.5 4.0/5 "Great!"
      When I was surfing for personal loan on third party website, I filled all my information on the site. Post which, it suggested only one bank which is ICICI. So I went ahead and submitted the loan application with the ICICI bank. Immediately I received call from the bank and they said due to salary constrains they could not provide the loan and closed my application.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on May 25, 2017
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