Promote your business quickly and stay ahead of the competition with our specially designed business loans to upgrade or expand your company. If you want to fund your business, you need the capital you need to grow. Build your infrastructure, upgrade inventory, increase working capital, buy equipment, expand operations or boost any area of your business with ICICI Bank's business loan solutions from ICICI Direct. Upon eligibility, you can avail various products under Professional Installment Loan to repay in equal installments at fixed intervals. You can also avail flexible repayment options like pre-closure or pre-payment on BIL after 12 EMIs by paying applicable pre-closure charges.
₹
500000
36
months
10
%
Monthly EMI
₹
₹ 32,124.56
Total Interest
₹
10,622.78
Principal Amount
₹
500000
Payable Amount
₹
160,622.78
| Pay No. |
Begining Balance | EMI | Principal | Interest | Ending Balance |
|---|---|---|---|---|---|
| 1 | 150000.00 | 32124.56 | 28637.06 | 3487.50 | 121362.94 |
| 2 | 121362.94 | 32124.56 | 29302.87 | 2821.69 | 92060.07 |
| 3 | 92060.07 | 32124.56 | 29984.16 | 2140.40 | 62075.91 |
| 4 | 62075.91 | 32124.56 | 30681.30 | 1443.26 | 31394.61 |
| 5 | 31394.61 | 32124.56 | 31394.64 | 729.92 | -0.03 |
Our business loan experts help you identify the right loan for your business based on your needs, your credit rating, industry norms and impact on your balance sheet. You can count on us to get the best for your business.
28 years (self employed individuals) and 25 years (for doctors); Maximum age - 65 years
Rs. 40 lakh for non-professionals; Rs. 15 lac for professionals; as per audited financials
Rs. 2 lac for Proprietorship Firm/Self employed Individuals and Rs. 1 lac for non-professionals as per audited financials
In current business for at least 5 years and minimum 3 years for doctors
Up to 2% (plus applicable taxes) of the facility amount
For secured facilities: Up to Repo Rate +6.0 %(Non PSL) For facilities backed by CGTMSE: Up to Repo Rate + 7.10%
The interest rate for each loan is determined based on the assessment of business, financials, loan amount and tenure.
As per applicable laws of the state
Up to 2% (plus applicable taxes) of the facility amount
Up to 2% p.a. commission shall be charged on pro-rata basis based on the tenure and the amount of non-fund based facility being availed
Commitment charges to be charged as per the terms and condition mentioned in the sanction letter
Foreclosure charges to be charged as per the terms and condition mentioned in the sanction letter
We accept residential/commercial/industrial property/liquid securities as collateral.
We provide working capital finance to entities engaged in manufacturing, service or trading segment that fall under the following categories:
We offer competitive interest rates for our loan facilities. The interest rate for each loan is determined based on an assessment of your business profile, past track record, financial record, loan amount required and loan tenure.
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