Multiple banks. Different interest rates. Call it a "conflict of interest".
  • ICICI Loans for New Entities is Rated as "Great!" by 17418 Users

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    ICICI Loans for New Entities

    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

    ICICI Loans for New Entities Reviews

    • ICICI Bank Personal Loan
      "Its Good"
      0.5 4.0/5 "Great!"
      I approached ICICI personal loan through online channel, ICICI taken care and disbursed the amount within two to three weeks of time, But I felt interest rate is good in Tata capital as compared to ICICI. But still I recommend ICICI bank its good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 18, 2019
    • ICICI Bank Personal Loan
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      That was better experience, interms of rate of interest. ICICI bank agents are proactive they came to my place and collected the documents and done the process. Then I didn't interact with them. I got the better deal from ICICI on the personal loan.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 18, 2019
    • ICICI Bank Personal Loan
      "Good service"
      0.5 3.5/5 "Pretty good"
      I had taken this loan almost three years back and the process in getting this loan has been quite good. The loan amount has been fine and the interest rate with them has also been nominal. There has not been any sort of charges which they had made so far.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 18, 2019
    • ICICI Bank Personal Loan
      "More than satisfactory"
      0.5 5.0/5 "Blown Away!"
      ICICI Bank also done good in the personal loan. The process was good and the documents was taken on time. The customer support is fine and they are helpful too. The rate of interest and processing charges is normal. They also contacted me towards the end of the loan to know if I am in need of a top up loan. They always provide me with options.
      Was this review helpful? 0
      , pune
      Reviewed on Jan 18, 2019
    • ICICI Bank Personal Loan
      "Excellent experience"
      0.5 5.0/5 "Blown Away!"
      My home loan is with ICICI Bank. The services are excellent. I got a proper response and the online banking is also transparent where I can check what ever is the EMI. If I contact the customer care and ask something, they will explore options.
      Was this review helpful? 0
      , pune
      Reviewed on Jan 18, 2019
    • ICICI Bank Personal Loan
      "Good service"
      0.5 3.5/5 "Pretty good"
      My experience with ICICI bank for personal loan was good, loan amount was for 3.5 lacs and the rate of interest was nominal in this bank. There are no preclosure charges for this loan. Customer service was good and the tenure period for this loan is 3 years.
      Was this review helpful? 1
      , pune
      Reviewed on Jan 17, 2019
    • ICICI Bank Personal Loan
      "Average Services"
      0.5 2.0/5 "Expected more"
      Taken my personal loan with ICICI by the September last year. Since my salary account with ICICI, i have chosen them. Before purchasing the loan they have said different rates and after received the loan, they have given different interest rate. I have got the loan on time. I complaint to the customer care regarding the interest rate but they were helpless.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 17, 2019
    • ICICI Bank Personal Loan
      "Charges should be flexible"
      0.5 3.0/5 "Satisfactory"
      I felt the interest rate is higher than other competitor in market, when I took the loan they gave me the interest around 14% for the loan amount of Rs. 5 lakhs. They charge too much of processing fee and other extra charges, it should reduced as per market standard.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 17, 2019
    • ICICI Bank Personal Loan
      "In banking sector, they are providing good loan"
      0.5 4.0/5 "Great!"
      I have taken the personal loan with ICICI and i have closed the loan before 6 months. I have done a balance transfer. They have provided me a interest rate 11%. The documentation process was quite smooth. I have not faced any issues with the ICICI.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 17, 2019
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been using my personal loan with ICICI bank for long time,they have given me sufficient loan amount was sufficient for me, and the rate of interest i have taken up to 13.4% which is nominal for me,the processing fee they have charged me was nominal,there is no hidden charges they have charged me apart from Emi.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 17, 2019
    • ICICI Bank Personal Loan
      "Dissatisfied"
      0.5 1.0/5 "Really Bad"
      Earlier I took personal loan from ICICI, initially they haven't told the insurance fee and 2% of processing fee deduces from my the disbursement, finally the bank have taken 4% processing fee from the loan amount. I am very disappointed hence I Closed this loan. Even the executive of ICICI gave one information their personal id and again from official id they send different information.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 17, 2019
    • ICICI Bank Personal Loan
      "Good overall"
      0.5 5.0/5 "Blown Away!"
      My personal loan is with ICICI Bank and it was a good experience. The process is good and the loan was provided to me on time and as needed. The rate of interest and the processing charges is nominal and there are no hassles in the after loan services.
      Was this review helpful? 1
      , jorhat
      Reviewed on Jan 15, 2019
    • ICICI Bank Personal Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I also have a personal loan with ICICI Bank. The customer services are good and the process was on time. I did not face any delay and the documents was collected on time. I received the loan within a week. The rate of interest and the processing charges is normal.
      Was this review helpful? 1
      , chennai
      Reviewed on Jan 15, 2019
    • ICICI Bank Personal Loan
      "Worst Banking Service experienced."
      0.5 0.5/5 "Unacceptable"
      Took a personal loan around 17.5L. I have experienced the worst service by any bank. First, the time taken to process the loan was significant long with a lot of incoherence. Later after receiving the loan amount, I had experienced worst customer service by any bank. Their relationship manager is always unreachable and highly unprofessional. I had to go to the branch to get in touch with him regarding an issue. And regarding any grievances resolution their approach it is ping pong style. Keep shifting responsibility on others. Again. Worst service experienced.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 14, 2019
    • ICICI Bank Personal Loan
      "Unhappy with the services"
      0.5 2.0/5 "Expected more"
      I had taken a personal loan with ICICI Bank and the experience has not been up to the mark. They are not flexible in the interest rate and tenure. They need to improve on the services and be more supportive to the customer needs. I would not recommend the bank.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 13, 2019
    • ICICI Bank Personal Loan
      "High on ROI and charges"
      0.5 4.0/5 "Great!"
      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.The interest rate and charges is on the higher side. They need to work on that sector as they are higher when compared to the other banks.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 13, 2019
    • ICICI Bank Personal Loan
      "Interest rate and charging fee should be reduced"
      0.5 4.0/5 "Great!"
      The processing is very high in ICICI personal loan, I took the loan amount of Rs. 4 lakhs again I have taken new loan of Rs. 1.5 lakh then they have combined and showed the principal as Rs. 6 lakhs its not fine for me, first installment started from yesterday and the interest and charges are high.
      Was this review helpful? 3
      , kolkata
      Reviewed on Jan 11, 2019
    • ICICI Bank Personal Loan
      "High interest rates"
      0.5 4.0/5 "Great!"
      I had applied for a personal loan with ICICI bank and there was a quick processing. The interest rates are bit high , its somewhere around 15%. I had taken loan in 2014 and recently i had done top up on that. Apart from the interest rates i am happy with the services.
      Was this review helpful? 2
      , chennai
      Reviewed on Jan 11, 2019
    • ICICI Bank Personal Loan
      "Its Good Experience"
      0.5 4.0/5 "Great!"
      For my personal loan ICICI bank have quoted me the rate of interest around 9% its higher compared to other banks.. The loan amount is sufficient, the paper process was happened on time, they have collected the documents and sanctioned it on time.
      Was this review helpful? 3
      , meerut
      Reviewed on Jan 10, 2019
    • ICICI Bank Personal Loan
      "Need improvement on overall service"
      0.5 3.5/5 "Pretty good"
      Initially they told me my loan eligibility was around Rs. 4 lakhs but finally they approved only Rs.2 lakhs and there is no proper communication from the customer service. They have taken the time around 30 days to disbursement the loan amount.
      Was this review helpful? 1
      , chennai
      Reviewed on Jan 10, 2019
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