Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 1 ICICI Bank Mudra Loan

    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
    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 14510 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    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.
    Apply for Personal Loan

    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
      "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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