Government Sponsored Schemes
ICICI Bank offers Loans for income generating activities under various schemes launched by the Central Government and State Governments.
Under these schemes, the applicant can avail a bank loan to start an own business, which will help improve livelihood and uplift the standard of living.
The indicative list of documents that an applicant needs to submit as a part of the pre-sanction process to avail a loan under Government Sponsored Schemes (GSS) is given below:
KYC documents as per the latest KYC guidelines (Aadhaar Card/ Voter ID)
PAN Card (if available)
Income Certificate issued by a competent authority (wherever applicable)
Caste Certificate (wherever applicable)
Education Certificate (wherever applicable)
Proposed project report
Udyam Certificate (if available)
Rental Agreement (for business premise)
Consent Agreement (for business premise)
Scheme-specific documents (if any)
Udyam Registration Certificate (URC) is mandatory to classify the loan under MSE* (subject to norm fulfilment).
*Timeline for credit decision for Micro & Small Enterprise (MSE) applications will be 14 days from the date of submission of the documents.
- Click here for GSS- Loan Application Form
- Click here for GSS- Loan Agreement
- Click here for Annual Percentage Rate Calculator
Grievance redressal mechanism:
ICICI Bank follows a three-level grievance redressal mechanism.
Call us on 1800 1080
OR
Click here to raise a complaint.
For a few schemes, the interest rates are specified by the Government, while the other schemes are offered at interest rates that are decided as per the pricing policy* of the Bank. Various charges levied by the Bank are as follows:
Interest rates, Charges and Fees
| Nature of charges | Details |
|---|---|
Processing Fee while disbursing a Loan above ₹50,000 | 2% (plus applicable taxes) of the Loan amount |
*Interest rate per annum | Fixed rate of 16.35% |
Stamp Duty and other Statutory Charges | As per applicable laws of the State |
CGTMSE^ Fee while disbursing the Loan | As per CGTMSE fee Tax invoice |
^CGTMSE: Credit Guarantee Fund Trust for Micro and Small Enterprises
Penalty Charges
| Nature of charges | Details |
|---|---|
Penalty Charges | Nil |
| Foreclosure fee | Nil |
| Bounce charges applicable on non-servicing of interest on or before the due date | Nil |
| Charges incurred while filing a legal suit in case of a Loan default | At actuals (if applicable) |
| Professional charges (Lawyer charges) in case of a Loan default | At actuals (if applicable) |
| Non-maintenance of Mode of Payment charges (NMMP) | ₹800 (if applicable) |
The applicant may approach the respective sponsoring agency to avail the Loan under these Government schemes.
Click here to Know more
T&Cs apply.