As per your request here I am providing you information about the Business Loan India (Smart Business Loan) at ICICI Bank as well as documents required at HDFC Bank.

Here I am telling you about it, as you want.

ICICI Bank;
Smart Business Loan
Smart Business Loan is an unsecured overdraft facility up to Rs. 25 lakh given to existing ICICI Bank customers.

Key Features
Collateral free working capital loan for an entity in the form of an Overdraft

Interest charged only on the outstanding amount

Overdraft limit provided from Rs. 2 lakh up to Rs. 25 lakhs

Customer needs to pay minimum 5% of the utilised limit every month

Facility Offered
Overdraft for meeting working capital finance requirement

Eligible entities
Sole Proprietorship Firms,
Partnership Firms,
Private limited Companies,
Public limited Companies

Eligible business segment
Manufacturers,
Service,
Traders


Documentation;
Application form with a recent photograph

Proof of Identity (Passport Copy/ Voter ID card/ Driving License/ PAN Card)

Income Tax Returns for last 3 years (for self and business) duly certified by a CA

Processing fee cheque

Address Proof (Ration card/ Telephone Bill/ Electricity Bill/ Rental agreement / Passport copy/ Bank Passbook or Statement/Driving License)

Age proof (PAN Card, Passport, any other certificate from a statutory authority)

Proof of business existence

Bank Statements (Bank statement / Bank Passbook for last 6 months)

Profit and loss statement for last 3 years

Balance sheet for last 3 years




Business Loan Interest Rates & Charges
Enclosed below are HDFC Bank Business Loan Interest Rates & Charges
Fee Charges
Rack Interest Rate Range 16.25% to 19.75%
Loan Processing Charges Up to 2.50% of the loan amount subject to a minimum of Rs. 1,000/- & Maximum of Rs. 75000/-
Prepayment No pre-payment permitted until repayment of 6 EMIs
Pre-payment charges 07-24 Months - 4% of Principal Outstanding
25-36 Months - 3% of Principal Outstanding
>36 Months - 2% of Principal Outstanding



Charges for late payment of EMI at 24 % p.a on amount outstanding from date of default


Stamp Duty & other statutory charges As per applicable laws of the state


Cheque swapping charges Rs 500/-
Amortization Schedule charges Rs 200/-

Cheque Bounce Charges Rs 550/- per cheque bounce
Legal / incidental charges
At actual
CIBIL Report Copy Charges Rs.50 Per Copy
Rates offered to customer during the period of July’15 to September’15.
IRR Q II (2015-16)
Min IRR 12.50%
Max IRR 20.15%
Avg IRR 16.81%

Annual Percentage Rate offered to customer during the period of July’15 to September’15.
APR Q II (2015-16)
Min APR 12.56%
Max APR 22.25%
Avg APR 17.97%