Business Loans India : Information about ICICI Bank’s unsecured smart business loan
ICICI Bank’s unsecured smart business loan is collateral free. It provides working capital assistance in two variants payable in the form of equated monthly installments:
• Overdraft Facility
• Term Loan
Overdraft Facility
ICICI Bank extend your account limit and you can withdraw any amount upto the limit sanctioned. Bank charge interest only on the amount utilized.
Payment method
You will pay an equated monthly installment.
Eligibilty conditions for unsecured smart business loan
If you are a Proprietor /Partnership/Private/ Public Co. Company, ICICI Bank Smart Loans offers overdraft facility upto Rs. 25 lacs without any security. You benefit from an attractive floating rate of interest which is payable only on the amount utilized.
• Income tax payee
• Good business track record
• Comfortable business vintage
Documentation :
• Latest sales tax/VAT/service tax return
• Latest income tax return
• Bank statement
• Certificate of registration
• Proof of ownership: Title Deed, Municipal Tax/
Municipal Charge Bill / Receipt, Property Tax Paid Bill
• Residence Proof: Telephone
Bill/Electricity Bill Driving License/Valid Passport
• Identity proof: Driving License, Passport, Pan card
Features and Benefits of Business Installment loan :
• Easy access money
• Working capital as an overdraft facility
• Period of 12 months
• Interest levied on the amount utilized
• Enjoy the flexibility to pay minimum 5*% per month
• Flexibility to open accounts at local branches
• Availability of local cheques
• Queries resolved at local branches
• Term loan in the form of equated monthly installment
• Repayment tenure of 12-36 months
• Plan and control your cash flows
Sources : http://www.sme.icicibank.com