BusinessLoan ICICI direct

Name: BUSINESS LOANS
Rating: 4.58 (232 reviews)

Introduction
Major Features
Overdraft Eligibility
Overdraft Documentation

BANK OVERDRAFT LOAN

InstaOD Plus is an unsecured Overdraft (OD) facility that can be availed online without any paperwork. The facility serves day-to-day needs as well as sudden exigencies, for business.

Existing ICICI Bank Current Account customers can avail an instant Overdraft limit of up to Rs 50 lakh
Non ICICI Bank Current Account customers can avail an instant Overdraft limit of up to Rs 25 lakh

Major Features

Collateral free Business Banking loan
Interest to be paid on utilized amount
Instant Sanction
Paperless processing
No Prepayment / Foreclosure / minimum commitment charges

Eligibility Criteria for Overdraft facility

Business Type:

Individuals
Proprietor
Others

Additionally, For non ICICI Bank Customers:

Business Vintage
2 Years
Account Statment/GST Returns
1 Year
Credit Score(*T&Cs Apply)
> 725*

Overdraft Documentation

For institutions such as Partnerships and Companies, other documents such as Memorandum of Association and Board Resolution may be required.
For new to bank customers, bank statement would be required for assessing the banking transactions.