Range of Interest Rate
15.99% Onwards
Processing Fee Range
Up to 3%
Loan Amount
5 Lakh – 50 Lakh
Range of Loan Tenure
1-4 years
Key Salient Features
- Flexible Loan Tenure
- Minimum documentation
Documentation
- KYC– Aadhar Card and PAN Cardd
- Financial– 6 month bank statement, latest form 26AS & 3 years ITR
Trivia
- The total number of branches of IndusInd Bank branches in India is 2728
- Average loan approval time ranges from few hours to couple of days
USP’s
Doorstep Service
Dedicated Relationship Manager
Minimum Documentation
Fastest Sanction Process
Fee and Charges Details
- Foreclosure charges: Up to 5.5% depending on the scheme and tenure completed
Disclaimer
- All intellectual property including trademarks, logos belong to the owner
| Particulars | Self-Employed |
|---|---|
| Age | 25 to 70 years |
| Prepayment charges/Foreclosure | Foreclosure charges: Up to 5.5% depending on the scheme and tenure completed |
FAQs
To apply for an IndusInd Bank you need to follow a few instructions given below:
- Submit the IndusInd business loan application form online
- Complete the KYC and Financial documentation
- There will be a sanction letter will be provided by the private bank, which will include a few important details such as sanctioned loan amount, interest rate, loan tenure, type of interest rate applicable, EMI payable, validity of sanction letter, special conditions (if any), and other terms and conditions
- Finally, this bank will raise a request for business loan disbursement, after which they will issue a cheque
There are several documents that you will need to submit while applying for an IndusInd Bank Business Loan. They are given in the table below:
KYC Documents
KYC Documents
- The previous three months’ salary slips and
the Latest Form-16 - Latest 2 years Form 16
- IT Returns for the last three years
-
Business Profile of the Applicant
Latest 3 years ITR with Computation of Income - Balance Sheet, Profit, and Loss Account, and respective schedules
- GST Registration Certificate, GSTR-3B Returns of
latest 1 Year, and GSTR-3B Returns of latest 1 Year
Company Udhyam certificate
Property Documents
IndusInd Bank provides you with flexible loan repayment options, a major reason why you should choose it. Besides, they also offer flexible loan tenures which is yet another factor why you must select IndusInd Bank.
On completing the business loan form online and submitting all the required documents, it will take IndusInd Bank about 5-7 working days to sanction your business loan.
If you need to secure an IndusInd Business Loan you will need to have a minimum CIBIL score of at least 750.
IndusInd Bank sanctions a minimum business loan amount of 5 lakh and maximum 50 lakh.
It is to help you understand the EMI you will have to pay for an IndusInd Business Loan when you apply at the lowest minimum interest rate of 15.99%, given below is a table containing loan amount and tenure.
Table of IndusInd First Bank Business Loan EMI @15.99% interest rate for different loan amounts and tenures:
| Amount | ||||
|---|---|---|---|---|
| Tenure | 10 lacs | 25 lacs | 40 lacs | 50 lacs |
| 2 Years | Rs 48,958 | Rs 1,22,396 | Rs 1,95,833 | Rs 2,44,792 |
| 3 Years | Rs 35,192 | Rs 87,880 | Rs 1,40,608 | Rs 1,75,760 |
| 5 Years | Rs 24,313 | Rs 60,782 | Rs 97,251 | Rs 1,21,564 |
There is no necessity to have a co-applicant while applying for IndusInd Bank Business Loan. Although, possessing one significantly helps in proving ‘Creditworthiness’ to your lender . Thereby, improving your chances of securing a business loan easily.
In case of Business Loan which is an unsecured loan, the interest rates remains fixed during the entire tenure of the loan period.
If you have ITR documents for three financial years, it means that it increases your chances of obtaining an IndusInd Bank Business Loan. It is very possible though that you secure a business loan despite not possessing ITR documents for three financial years.
However, for it to be possible you need to seek a small loan, and have a good CIBIL score to prove to your lender your ‘Creditworthiness’.
After applying for an IndusInd Business loan, submitting all the necessary documents, and receiving a sanction letter, it should take the bank anywhere between 2 to 3 working days to disburse the business loan.
A few important details about IndusIndFirst Bank Business Loan that you need to know given below: They are as follows:
- Types of IndusInd Bank Business Loan:
There are two types of IndusInd Bank Business Loan. They are as follows:
- IndusInd Bank Loans for Merchants:
Usually, this type of business loan is designed by IndusInd Bank to help merchants meet their working capital requirements.
- IndusInd Bank Loans for Retailers:
IndusInd Bank provides this business loan package to help small retailers secure a working capital.
- IndusInd Bank Loans for Merchants:
EMI Calculator
Loan Amount
₹
Rate of Interest
%
Loan Tenure (Years)
Years
Monthly EMI
₹ 21,617
Principal Amount
₹ 25,000,000
Interest Amount
₹ 23,000,000
Total Amount Payble
₹ 47,000,000
Interest Amount
Principal Amount
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