Indian Bank Business Loan

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Indian Bank offers business loans customised as per the enterprises’ size and sector for their fixed and working capital requirements. These also include specialised credit for micro and small, as well as new entities. The quantum of these loans ranges from ₹10,000 to ₹150 Crores.

Read more to learn about Indian Bank business loans, their features, eligibility requirements, and so on.

Indian Bank Business Loan Interest Rates and Charges

The following table presents interest rates and charges applicable to business loans from Indian Bank:

Particulars	Rate/Fees
Interest Rate	Pre-Shipment Credit: Repo Rate + 3.50% Post-Shipment Credit: Repo Rate + 3.50% Export Credit: Benchmark Rate + 6.50%-7.50% Overdue Export Bills: Benchmark Rate + 6.50%-8.50%
Processing Fees	Upfront fee of 1% of the loan amount of up to ₹1 Crore 0.75%-1.40% of the loan amount (based on internal rating)
Foreclosure Charges	2% of the outstanding balance

Features and Benefits of Indian Bank Business Loan

Here are a few essential features of Indian Bank business loans:

Substantial Loan Amount

Indian Bank offers loans for varied capital requirements with amounts ranging up to ₹150 Crores

Minimal Documentation

You can apply for these loans online by submitting just a few documents

Flexible Tenure

The bank also lets you choose a preferred repayment tenure which can extend up to 15 years

Transparent Terms and Conditions

Indian Bank offers loans with no hidden charges and has clear terms and conditions

Indian Bank Business Loan EMI Calculator

Loan Amount

Tenure

Rate of Interest

Your Monthly Business Loan EMI

Principle Amount

Total Interest

Total Amount Payable

Amortization Schedule

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Year	EMI	Principal	Interest	Balance

Indian Bank Business Loan Eligibility

Here are some of the basic eligibility requirements:

Several Indian Bank loan options require the applicant to be over 18 years old up to 65 years (at loan maturity)

The applicant can be a self-employed individual
Registered partnership firms, sole proprietorship firms, limited companies, and MSMEs can apply for these loans
Some Indian Bank business loans also require the business to be running for the last 3 years
Certain loan facilities require GST and Udyam Registration Certificate

Indian Bank Business Loan Documents

When applying for a business loan, you need to furnish certain documents along with the duly filled application form. Here’s the list:

Proof of identity
Proof of residence
Business address proof
Proof of business’ existence and continuity
Business financials
Sales tax and Income Tax Returns (ITR) records

Types of Business Loan Schemes Offered by Indian Bank

Here are some of the business loan schemes that Indian Bank offers in two categories:

MSME

These are some of the MSME business loans available with the Indian Bank:

IB Tradewell: Traders with an experience of a year or more can avail of these loans of up to ₹5 Crores

IND SME Secure: This product includes term loan and overdraft facilities for acquiring a commercial asset or business expansion
IND GST Advantage: With this product, MSMEs can avail of loans provided that they have GST registration
IND Micro: This lending option caters to priority sector micro enterprises with amount of up to ₹20 Lakhs for a maximum of 5 years

Corporate

Here is a list of lending products under the ‘Corporate’ segment:

Open Term Loan: It caters to the high rated borrowers or corporates to meet their small, mid, and long-term needs
Corporate Loan: Get up to ₹1 Crore and more for a period extending up to 5 years
Corporate Credit: This credit facility helps mid and large businesses to meet their capital requirements between ₹25 Crores to ₹150 Crores and more
Working Capital: The bank also extends overdraft, open cash credit, and letters of credit facilities to businesses for their working capital requirements

How to Apply for an Indian Bank Business Loan

To apply for an Indian Bank business loan, follow these simple steps:

Step 1

Visit the official Indian Bank website and navigate to the products section
Step 2

Under the ‘Loan Products’ option, choose between ‘MSME’ and ‘Corporate categories of loans
Step 3

Choose between different loan facilities and click on the preferred one
Step 4

Hit the ‘Apply Now’ button to begin your application process
Step 5

Fill in your relevant documents, attach the required documents, and click on ‘Submit’

Indian Bank Customer Care

To contact customer care services for your business loan-related query, you can check the ‘Contact Us’ page on the Indian Bank website. Moreover, you can call 1800-425-0000 to reach the Indian Bank customer service centre.

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