ICICI Bank is the largest private sector bank in India, with total consolidated assets amounting to US$ 172.5 billion (as of March 31, 2018). The bank presently has 14,367 ATMs and 4874 branches spread all over India. Originally established as just ICICI Limited in the year 1994, ICICI Bank Ltd has evolved as a major Indian multinational financial services and banking company. The company offers a broad range of financial services for both retail and corporate clients through several specialized subsidiaries and delivery channels engaged in asset management, venture capital, life insurance, investment banking, non-life insurance, business loans, personal loans, home loans, auto loans and more. It also has subsidiaries and branches in many other countries.
ICICI bank offers credit to businesses in 4 different ways – working capital finance, term loans, GST business loan and InstaOD. These products are mainly targeted at medium-size businesses that require any type of financing. While term loans, which we will be discussing here, are meant to meet bigger expenses such as starting a fresh service or product line, or expanding operations, working capital finance is usually a way to meet day-to-day expenses of the business. More details on ICICI bank business loan, including its features, charges and eligibility criteria are provided below.