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    We found 1 ICICI Bank Mudra Loan

    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 Bank Mudra Loan is Rated as "Great!" by 14304 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

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    Personal Loan BYTES FROM OUR KITCHEN

    Overview about ICICI Mudra Loan

    The Government of India has set up the Micro Units Development & Refinance Agency Ltd. (MUDRA) to offer financing to non-corporate and non-farm segment income generating activities belonging to Micro and Small enterprises. These enterprises, having credit requirements below Rs. 10 lakhs can easily receive funding through this scheme.

    Features of ICICI Mudra Loan

    MUDRA Bank has announced three products under the Pradhan Mantri MUDRA Yojana (PMMY) scheme, namely, Shishu, Kishore and Tarun. These products can be availed according to the needs and growth of micro units.

    • Under Shishu, customers can get loans to up to Rs. 50,000.
    • The Kishore scheme offers loans for amounts above Rs. 50,000 and up to a maximum of Rs. 5 lakhs.
    • The Tarun scheme offers loans for amounts above Rs. 5 lakhs and up to a maximum of Rs. 10 lakhs.

    ICICI Bank customers can avail Mudra loans for three specific purposes in the form of a) Vehicle Loans, b) Business Installment Loans and c) Rural Business Credit (RBC) / Business Loans Group Loans (BLG).

    • Vehicle loans can be procured for purchasing cars, commercial vehicles and two-wheelers.
    • Business Installment Loans can be availed for purchasing plants and machinery, meeting working capital requirements, for renovation of offices and also for various other purposes.
    • Under Business Installment Loans and Rural Business Credit categories, ICICI Bank offers the Overdraft facility, Drop line overdraft and Working capital loans.
    ICICI Bank Personal Loan Offers

    Borrowers do not have to submit any security collaterals while availing Mudra Loans.

    Customers can contact the nearest ICICI Bank to get more details and then apply for a Mudra loan. ICICI Bank will approve Mudra loans according to the customer’s requirements.

    Eligibility criteria for ICICI Mudra Loan

    Non-Corporate Small Business Segments (NCSBS) consisting of partnership firms and proprietorships which have service sector units, small manufacturing units, truck operators, shopkeepers, repair shops, for-service units, fruits and vegetable vendors, small industries, machine operators, food processors and applicants from urban/rural areas can qualify for funding under the Mudra Loan scheme.

    Documentation Required for ICICI Bank Mudra Loan

    The following documents have to be submitted by applicants of an ICICI Mudra Loan -

    For Business Installment Loans

    1. Mudra application form
    2. Photo ID proof
    3. BIL application form
    4. Establishment proof
    5. Address proof
    6. Proof of business continuity
    7. Ownership proof of office or residence
    8. Bank statement for the last six months
    9. Trade references
    10. Proof of qualification

    For Vehicle Loans

    1. Mudra application form
    2. Photo ID proof
    3. Vehicle loan application form
    4. Passport size Photos - 2
    5. Income Proof
    6. Address Proof
    7. Bank statement for the last six months

    Rural Business Credit / Business Loans Group

    1. Mudra application form
    2. Age Proof
    3. Photo ID proof
    4. RBC/BIL application form
    5. Ownership proof of office or residence
    6. Bank statement for the last twelve months
    7. Business vintage proof

    Income tax return statements for the last two years

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  • ICICI Bank Mudra Loan Reviews

    • 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? 0
      , 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? 0
      , chennai
      Reviewed on Jun 22, 2017
    • ICICI Bank Personal Loan
      "Reduce the processing fee"
      0.5 4.0/5 "Great!"
      I have closed the personal loan with the ICICI bank and the interest rate was around 13.45%. Customer service was really good, also they have cleared my doubts and confusion. Break up is clear with the ICICI bank and the processing charges were really huge.
      Was this review helpful? 0
      , guwahati
      Reviewed on Jun 22, 2017
    • ICICI Bank Personal Loan
      "Average Service"
      0.5 2.0/5 "Expected more"
      The ICICI bank executive gave a call and told that I need to have minimum salary of 25k, but I am getting only 20k that was reason I haven't proceed with ICICI personal loan. The rate of Interest is nominal when compared with others. The customer service and the response was average with ICICI bank.
      Was this review helpful? 0
      , guntur
      Reviewed on Jun 22, 2017
    • ICICI Bank Personal Loan
      "Should give proper communication"
      0.5 2.0/5 "Expected more"
      I am not aware of the ICICI loan rejection status, Initial they called and collected the documents. Then there was no response from their end. In fact ICICI interest rate is high, it should be flexible, so many people can afford it and they should give transparent information about the application.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • ICICI Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      The interest rate was very high with ICICI personal loan and the documentation process was not up to the mark, so that was the reason I haven't proceed with the ICICI bank personal loan. The customer service and the response was good with ICICI bank.They can reduce the interest rate in future. It was a good service overall that I had with ICICI bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 22, 2017
    • ICICI Bank Personal Loan
      "Very good services"
      0.5 5.0/5 "Blown Away!"
      ICICI Bank has provided me with good customer services and the process for the personal loan was completed in a week. All the documents were collected at one shot and it was a nice experience. The rate of interest was around 16% and the processing charges were very much normal too.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 22, 2017
    • ICICI Bank Personal Loan
      "Average Service"
      0.5 4.0/5 "Great!"
      I haven't got personal loan with ICICI bank because of some my personal reasons. The customer service and their response was good with ICICI bank. The rate of interest is high when compared with others. The ICICI bank gave good service in concern to my personal loan application.
      Was this review helpful? 0
      , jamshedpur
      Reviewed on Jun 22, 2017
    • ICICI Bank Personal Loan
      "Its Good"
      0.5 4.0/5 "Great!"
      ICICI gave me happy service, but they were ready to sanction only the amount of Rs. 5 lakhs. But I was looking for the amount of Rs. 9 lakhs. Then I requested ICICI to increase the principal amount but denied to process. Hence I asked them to close the application.
      Was this review helpful? 0
      , raigarh
      Reviewed on Jun 22, 2017
    • ICICI Bank Personal Loan
      "Its Good"
      0.5 4.0/5 "Great!"
      I applied the personal loan through online channel, then ICICI asked me to submitted the documents directly, But still I am in out of station, Once I reach to my place will decide whether I process or not. ICICI interest rate is high compared to other bank.
      Was this review helpful? 0
      , salem
      Reviewed on Jun 22, 2017
    • ICICI Bank Personal Loan
      "Not satisfactory"
      0.5 1.0/5 "Really Bad"
      I applied for a personal loan with ICICI bank and I waited for almost 10 to 15 days. No executive came to meet me to collect my documents. So I made a request to cancel the same. I did not get to confirm the interest rate and charges they were offering.
      Was this review helpful? 0
      , salem
      Reviewed on Jun 22, 2017
    • ICICI Bank Personal Loan
      "Need Improvement"
      0.5 3.0/5 "Satisfactory"
      I never got any reason for the closing my personal loan application from ICICI bank, so that was the reason I haven't proceed with ICICI bank personal loan. They didn't gave proper response to my personal loan application. The rate of interest is nominal with ICICI bank, when compared with others. The service provided by ICICI is very much average.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 22, 2017
    • ICICI Bank Personal Loan
      "Need Improvement"
      0.5 1.0/5 "Really Bad"
      I have applied for Rs.2,45,000 personal loan with ICICI bank. I want to do a balance transfer with capital first and the bajaj finance loans. The ICICI customer service didn't came back to me in concern to my personal loan application. The rate of interest is nominal with ICICI bank.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Jun 22, 2017
    • ICICI Bank Personal Loan
      "Best"
      0.5 3.0/5 "Satisfactory"
      Interest rate with the ICICI bank was around 12.9% for the personal loan, which is good. Customer service was also a good one and the loan amount got disbursed to my account within a week of time. Response and other things are really good when it comes to ICICI.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 22, 2017
    • ICICI Bank Personal Loan
      "Not Satisfactory"
      0.5 1.0/5 "Really Bad"
      I have tried many times to apply for a personal loan with ICICI Bank, but the bank did not contact me with regards to process my details. It has not been a very good experience though I am an existing customer. The interest and charges were average and they are not recommendable too.
      Was this review helpful? 0
      , nellore
      Reviewed on Jun 22, 2017
    • ICICI Bank Personal Loan
      "Need Improvement"
      0.5 4.0/5 "Great!"
      The ICICI bank failed to do the follow up with regards to my personal loan application. They did not give a call and explained about the product. Then later on I came to know that my application got closed and they have never sent any kind of mails or text message to covey my loan status. The customer support of ICICI needs to improve a lot.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jun 22, 2017
    • ICICI Bank Personal Loan
      "Delayed process"
      0.5 3.0/5 "Satisfactory"
      I have taken my personal loan from ICICI Bank. The process was very much delayed. The bank took 20 days to disburse my loan. I had to follow up much to get my loan through. The rate of interest and processing charges was average. They need to improve by being more swift.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 22, 2017
    • ICICI Bank Personal Loan
      "Its Excellent"
      0.5 5.0/5 "Blown Away!"
      ICICI told me to open new account, I denied to open in fact at the time I was in a station. That's the reason ICICI have closed the loan application. Interest rate is little bit high compared to other competitor, for me they offered 11.2% of interest.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • ICICI Bank Personal Loan
      "Good services"
      0.5 4.0/5 "Great!"
      I could not go ahead with ICICI Bank for the personal loan as there was a complete zero response from them. I expected to receive a call from them and give me the details as I am existing customer. No proper information on the rate of interest and charges.
      Was this review helpful? 0
      , aligarh
      Reviewed on Jun 22, 2017
    • ICICI Bank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      Experience was good one with the ICICI bank and the loan amount got disbursed within six days of ti me. Processing charges were around 6000 Rupees. Customer service was good one with them and the interest rate is a nominal one with the ICICI bank.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 21, 2017
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