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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

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

Minimal Documentation

<p>You can apply for these loans online by submitting just a few documents</p>

Flexible Tenure

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

Transparent Terms and Conditions

<p>Indian Bank offers loans with no hidden charges and has clear terms and conditions</p>

Indian Bank Business Loan EMI Calculator

Loan Amount
Tenure
  • Months
  • Years
Rate of Interest
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Monthly EMI

at % interest rate for months

Total Amount Payable
Principal Amount
Total Interest
Year 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

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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

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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’

How to Apply for an Indian Bank Business Loan

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. 

DISCLAIMER

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 the Indian Bank Business Loan

What is the minimum loan amount available under the IND SME Secure Scheme from the Indian Bank?

You can get ₹10 Lakhs as a loan under the Indian Bank’s IND SME Secure. 

What is the maximum repayment period for the term loans available under IND SME Secure?

The maximum repayment period for the term loans available under IND SME Secure is 15 years.

What are the repayment and moratorium periods for the IB Tradewell loan?

The maximum repayment tenure for IB Tradewell loans is 7 years with a moratorium period of up to 6 months.

What is the quantum of loan available under IND GST Advantage?

The quantum of loans under IND GST Advantage ranges between ₹5 Lakhs and ₹15 Lakhs.

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