✓Minimal Documentation ✓Flexible Repayment ✓Collateral Free Loan | Apply for Business Loan Now! Apply Now

If you are seeking to meet the working capital requirements of your business but running short of funds, you can consider obtaining a business loan. This way, you will be able to fund your business requirements at ease, without exhausting your finances.

In this regard, Indian Bank offers business loans at attractive interest rates. You can utilise an Indian Bank business loan for various purposes, such as business expansion, plant and machinery purchase, paying salaries and much more. Read on to get more details on business loans offered by Indian Bank.

Indian Bank Business Loan Interest Rate and Charges

Indian Bank offers business loans at attractive interest rates. This makes the overall cost of borrowing extremely affordable. Go through the table below to know Indian Bank business loan interest rate and charges:

Interest rate

From 8.30%

Processing fee

1% to 3% of the loan amount

Prepayment charges


Foreclosure charges


Note that the interest rates mentioned above are subject to changes. Consider having a clear talk with the lender before applying for a loan.

Indian Bank Business Loan EMI Calculator

A business loan could be a great tool to finance the urgent capital requirements of a business. However, improper financial planning could lead to loan defaulting, which will lower your credit score. To avoid falling into such a situation, it is advisable to use an EMI calculator. 

This online tool displays instant results pertaining to your Indian bank business loan monthly repayments. By knowing your EMI obligations, you will be able to devise a proper financial plan, which will help you repay your loan faster. 

Moreover, this calculator displays the amortisation schedule, which can help you make informed decisions relating to loan foreclosure or balance transfer.

Indian Bank Business Loan Documents

Indian Bank offers business financing with minimal documentation. Mentioned below are the details of the Indian Bank business loan documents required:

1. Identity proof:

2. Address proof:

  • Passport

  • Voter's ID Card

  • Aadhaar Card

  • Driving Licence

3. A few other documents:

  • Certified true copy of Memorandum & Articles of Association (certified by Director) 

  • Proof of business continuation 

  • Declaration or Certified Copy of Partnership Deed

  • Board resolution 

  • Latest ITR along with computation of income, Balance Sheet and Profit & Loss account for the previous 2 years, after being CA Certified/Audited

  • Bank statement of the previous 6 months

Note that the bank may ask you for additional documents if required.

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Indian Bank Business Loan Eligibility

You can obtain a business loan from Indian Bank with easy eligibility. Find Indian Bank business loan eligibility parameters below:

  • Age of the applicant must be at least 25 years at the time of application and 65 years at the time of loan maturity.

  • The minimum turnover of the business must be Rs. 60 Lakhs.

  • The business loan is provided to self-employed, partnership firms and companies.

Note that it is extremely crucial for you to meet these eligibility parameters, as they form the primary deciding factor for loan application approval. Furthermore, on meeting these criteria and showing a healthy credit score, you may negotiate with the lender for lower interest rates.

Features and Benefits of Indian Bank Business Loan

Being a state-owned bank, a business loan from Indian Bank comes with various features and benefits. Find about them below:

  • Substantial loan amount

The bank offers business loans of up to Rs. 25 Crores, which can be used for various business-related requirements. Consider meeting the eligibility parameters to enhance your loan amount.

  • Minimal documentation

With Indian Bank, you can obtain a business loan with minimal documentation. You need to submit a few documents pertaining to personal identification and a few business-related documents on time for quick loan approval.

  • Flexible tenure

Indian Bank offers a flexible tenure of 120 months for loan repayment. Consider planning your repayment beforehand with an EMI calculator for a smooth and hassle-free borrowing experience.

  • Transparent terms and conditions

The bank offers business loans with transparent terms and conditions, which leaves no room for any hidden charges. However, consider going through the entire terms and conditions of the bank before making a decision.

Types of Business Loan Schemes offered by Indian Bank

To meet various requirements of business owners, Indian Bank offers a wide range of business loan solutions. Find the types of Indian Bank business loans below:

1. IB Tradewell, IND SME Secure, IB Micro

Obtain this loan to meet your working capital requirements. You can utilise this loan amount for the acquisition of fixed assets, business place modernisation and more.


You can obtain this loan to purchase 2-4 wheeler electric vehicles for your business.

3. IB Contractors

The primary aim of this credit is to finance contractors carrying out work orders from various Central/State Government departments. It covers all aspects, including machinery purchase, working capital requirements, and so on.

4. IB My Own Shop

The purpose of this credit is to help individuals purchase new commercial space. It also includes renovation or expansion of the business premises.

5. IB Doctor Plus

This loan looks after the working capital requirements towards setting up a clinic or nursing home. It also finances the purchase of machinery and equipment for the set up.

How to Apply for Indian Bank Business Loan

The process for Indian Bank business loan online application is simple and hassle-free. Consider following these steps:

  • Step 1

    Visit the official Indian Bank website and navigate to MSME loan section.

  • Step 2

    Choose the loan scheme you want to apply for and click on “Apply Now”.

  • Step 3

    Choose whether you are existing customer or not.

  • Step 4

    Enter your mobile number and submit the OTP.

  • Step 5

    Fill in the application form and submit it.

  • Upon following these steps, a bank representative will reach out to you regarding further steps.

Compare Indian Bank with Other Lenders

Before you make a borrowing decision, it is crucial that you conduct a thorough research by comparing the loan offers extended by different lenders on the Bajaj Markets platform. The below table will help you compare the business loans offered by various lenders in the country:

Our Partners

Interest Rate Range

Max Loan Amount/ Tenure

Avail Loan

Ambit Finvest 

20% onwards

36 months

Apply Now

AYE Finance

28% onwards

36 months

Apply Now


12% onwards

36 months

Apply Now

IIFL Finance

18% onwards

60 months

Apply Now


20% onwards

48 months

Apply Now


16% onwards

36 months

Apply Now


15% onwards

9 months 

Apply Now

Lendingkart Finance Limited

15% onwards

36 months

Apply Now

Protium Finance Limited

1.25% p.m. onwards

72 months

Apply Now

Note that the interest rates mentioned above may change at the discretion of the lender. You must have a clear understanding of the same before applying for a loan.

You can, thus, consider visiting a diversified marketplace like Bajaj Markets for a thorough comparison between different business loan offers. View the terms and conditions of different banks and financial institutions through this platform and make an informed borrowing decision.

Factors That Determine Your Business Loan Interest Rate

As a prospective business loan borrower, you must be well-versed with the various factors that might affect your loan interest rate. Find about them below:

  • The creditworthiness of your business

One of the primary factors that lenders consider before approving a loan application is the credit score. Thus, consider maintaining a healthy CIBIL score to obtain financing at lower interest rates.

  • Business financials

Your business’ financials are another crucial factor that decides the interest you pay towards your Indian Bank business loan. In this regard, a business with strong financial will receive financing at a lower interest rate and vice versa.

  • Loan tenure

The loan tenure you choose is directly proportional to interest amount. In simple terms, longer loan tenure brings in more interest. On the other hand, a longer tenure also reduces the EMI payments drastically.

Indian Bank Customer Care

You can consider reaching out to the bank on 1800 4250 0000 for any online assistance.


The information and suggestions provided by BFDL hereinabove is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial advice or endorsement of any sort.

The information including interest rates or fees, loan amount and other charges with regard to any product, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks or NBFCs. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any application or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.

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FAQs on Indian Bank Business Loan

Indian Bank provides business loans to various sectors, including health care, self-employed individuals and more.

Indian Bank charges 1% - 3% of the loan amount for MSME loans.

Interest rates for existing and new customers start at 8.30%.

You can call 1800 4250 0000 regarding business loan assistance.

The maximum loan amount that Indian Bank offers is Rs. 25 Crores.

You can repay the loan amount through regular EMIs distributed over the tenure chosen by you.

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