Apply for Indusind Bank Business Loan at Low Interest Rate
IndusInd Bank is one of the leading financial institutions offering a diverse range of credit products for smooth operations and growth of businesses. You can use these funds to address your day-to-day expenses and to capitalise on growth opportunities.
Here are the interest rates and charges associated with the IndusInd Bank Business Loan:
Processing Fees |
Up to 3% of the sanctioned amount (plus taxes) |
Interest Rate |
13% to 22% |
Foreclosure Charges |
Up to 5.5% based on the scheme and loan tenure |
Disclaimer: The interest rates and charges listed above are subject to change as per the bank’s policies.
At IndusInd Bank, you can get ample funding that can go up to ₹50 Lakhs.
You can repay the business loan conveniently for up to 48 months as per your preference and affordability.
You can get a loan to meet various purposes, such as business expansion, covering medium and long-term working capital needs, and much more.
You can benefit from door-to-door service, quick loan sanction and an easy application process with minimal documentation requirements.
Here are the eligibility criteria that a business needs to meet to get an IndusInd Bank Business Loan:
Minimum Turnover: ₹1 Crore in the last financial year with audited financial statements for the last 3 years
Profitability: Positive PBDT in the last 3 years
Age: Must be between 25 years and 70 years
Business Vintage: At least 3 years
Ownership: Must own a property
Past Payment History: Clean track in the last 12 months for a loan of at least ₹4 Lakhs
Check out the documents that a business needs to submit when opting for an IndusInd Bank Business Loan:
Application Form: Completed application form with a passport-size photograph
KYC Documents: Valid address/identity/signature/date of birth proof
Business Continuity Proof: Company PAN card/ GST registration/ Excise registration/SSI certificate, other government-issued certificates
Constitutional Documents: Bank statements/Deed/PAN card/MOA /AOA /Certificate of Incorporation
Ownership proof: Copy of Sales Deed/ Latest Property tax receipt/ EC/Govt. Leased Deed/Water bill/Electricity bill
Banking: Self-attested bank statements for the last 6 months
Financials: Copy of ITR of the last 3 years, financial information for the last 3 years, Form 3CD and 3CB, details of ongoing loans
Here are the various types of business loans that IndusInd Bank offers:
This loan helps businesses address their short and mid-term working capital needs. You can get loans of up to ₹20 Lakhs with tenures going up to 36 months.
This is an unsecured loan targeted towards MSME borrowers based in rural, semi-urban, and urban areas.
Through this loan, the bank offers financing to Bharat Money Store (BMS) merchants and to Bharat Super Shop (BSS) to meet their working capital needs.
Here are the steps you need to follow to apply for an IndusInd Bank Business Loan:
Step 1: Visit the bank’s official website and navigate to the business loan page
Step 2: Click on ‘Apply Now’ on the top right corner of the page
Step 3: Fill out the application form
Step 4: Click on ‘Submit’
Once you submit the details, an IndusInd Bank representative will contact you to proceed further with your loan application.
You can contact the customer care team of IndusInd Bank in the following ways:
Call: 1860 267 7777
Email: reachus@indusind.com
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IndusInd Bank offers various types of business loans, such as small ticket business loans, MSME loans and loans to merchants and retailers.
The processing fee is up to 3% of the sanctioned amount, plus the applicable taxes. A solid credit score can increase your chances of approval and might help you negotiate better terms.
The minimal business vintage requirement is 3 years.
The IndusInd Bank business loan interest rates usually lie between 13% and 22% per annum. These rates vary by product, borrower profile, and collateral provided. The exact rate will also depend on your credit history, business turnover, and the specific scheme you apply for.
Commonly, the tenures for IndusInd business loans extend for up to 48 months. The minimum tenure can vary from case to case, depending on the borrower’s profile. Longer tenures may apply for secured or particular business facilities, subject to the bank’s policy.
The exact loan size depends on your financial profile, business vintage and requirements, etc. You can get a maximum business loan of up to ₹50 Lakhs from IndusInd Bank. Higher limits may be possible under secured or customised lending, subject to the bank’s policies.
IndusInd Bank provides unsecured business loans, so no collateral is needed. These are given on the basis of 3 years business vintage and audited financials. Larger or specialised business loans may require security or collateral along with different interest rates and other loan terms.
Processing time varies by loan size, documentation, borrower profile, etc. IndusInd Bank processes business loan applications up to ₹25 lakhs within 14 working days. For loans above ₹25 lakhs, approval may take up to 45 working days, provided all the required documents are properly submitted.