ICICI Bank Mudra Loan: If you also want to start your own business and want to take a loan for it, then today we are going to tell you how you can apply for Mudra Loan through ICICI Bank. If you want to know then keep reading our article, we are going to tell you everything step by step in detail, so let us know.
Today we will discuss how you can apply for Mudra Loan through ICICI Bank. In such a situation, if you also want to take a loan for business or to expand your business, then you can apply for it very easily. You can apply for Mudra Loan through ICICI Bank. Today we will give you detailed information on how you can apply for a loan.
ICICI Bank Mudra Loan
Nowadays ICICI Bank is a very trusted bank, so if you are also thinking of taking a loan then you can easily get Mudra loan through this bank and can further your business. Today we are going to tell you which necessary documents you should have for this and will also give detailed information about how you can apply for the loan.
Eligible Criteria
To be eligible for Mudra Loan from ICICI Bank, entrepreneurs must meet certain criteria depending on the type of business entity. Eligibility Criteria are as follows:
Individual/Proprietary Firm
Age Limit: Applicant must be at least 18 years of age and should not exceed the maximum age prescribed by ICICI Bank.
Previous experience in business: ICICI Bank considers the applicant’s experience in the relevant business sector while evaluating the loan application.
Partnership Firm
Minimum number of partners: There must be at least two partners in a partnership firm.
Profitability of the business: The firm must have a track record of profitability, indicating its ability to repay debts.
Private/Public Limited Companies
Minimum Turnover Requirements: ICICI Bank prescribes a minimum turnover threshold that the company must meet to be eligible for Mudra loan.
Credit Score and Track Record: The credit score and track record of the company play a vital role in determining loan eligibility.
Important Documents
To avail Mudra Loan through ICICI Bank, it is very important that you have some important documents, about which we have explained in detail below.
- Aadhar card
- PAN card
- Mobile number
- Bank account number
- Business plan
- Business gst number
How to Apply for ICICI Bank Mudra Loan
We have given the details below on how to apply for Mudra loan through ICICI Bank, following which you can apply for the loan very easily.
Online Application
Visit ICICI Bank website and go to Mudra Loan section.
Fill the online application form with accurate and complete information.
Provide necessary documents along with the application.
Submit the application online and wait for the bank’s response.
Accurate information is important during the online application process. Any discrepancy or misleading information may lead to rejection or delay in the loan process.
Offline Application
Visit the nearest ICICI Bank branch and contact a representative.
Discuss your loan requirements and provide the required documents.
Complete the application form with accurate details.
Submit the application form and documents to the ICICI Bank representative.