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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 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.

Disclaimer

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