Indifi is a Non-Banking Financial Company (NBFC) that offers business loans to Small and Medium Size Enterprises (SMEs) at an interest rate of 1.5% per month & onwards. The company offers term loans for businesses to overcome their financial crunch or for expansion. Indifi provides business loans to small and medium enterprises that have limited access to financial institutions that include banks. Businesses that are unable to provide collateral are offered term loans from Indifi.
Indifi Business Loan Interest Rate & Features – 2021
|Interest Rate||1.5% per month & onwards|
|Processing Fee||Up to 2% (One-time)|
|Loan Tenure||Up to 36 months|
|Loan Amount||Up to Rs. 50 lakh|
|Min. operational history||Min. 2 years|
|ITR||2 years ITR for more than Rs. 10 lakh|
|VAT||VAT returns for last 12 months|
Note: Note: Indifi Line of Credit: The interest rate, loan amount and features of Line of Credit offered is the same as mentioned for business loans.
Indifi Business Loan – Additional Features
- Business loan of the amount up to Rs. 50 lakh in under 24 hours
- Minimum documentation
- Increased chance of approval with Indifi
- Specific loan products to meet business requirements
- No hidden charges
- Transparent and hassle-free process
- Flexibility in choosing loan tenure and the repayment period
Indifi: Merchant Cash Advance
|Rate of Interest:||1.5% per month|
|Loan Amount:||Up to Rs. 50 lakh|
|Repayment Tenure:||Up to 12 months|
|Processing Fee:||2% of the loan amount|
- Promoter’s Age: Min. 24 years
- At least 2 years of operational history
- Minimum 6 months card swipe history
- Minimum monthly transaction: Rs. 50,000
- For loans above Rs. 10 lakh: Last 2 years’ ITR
Indifi: Invoice Discounting
- Loan against outstanding invoices
- Credit line up to Rs. 1 crore
- Up to 90% of invoice value is paid upfront
- No Collateral or security required
- Financing Cost: Service charges + discount rate
Documents Required for Loan Application
- Duly filled application form
- Passport-size photographs
- Business Plan
- Business Address, Vintage & Registration Proof
- PAN card of the vendor
- Aadhar Card of the promoter
- Last 6 months’ bank statement
- KYC documents of the applicant and the company
- Any additional document required by Indifi
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Indifi Business Loan Customer Care Number
|Indifi Customer Care Number||7289904934|
Ques. What is the interest rate for the business loan offered by Indifi?
Ans. The interest rate offered starts from 1.5% per month and onwards on reducing balance.
Ques. What is the processing fee charged?
Ans. One time processing fee of 2% of the loan amount is charged.
Ques. Do I require any collateral or security to avail myself of a business loan?
Ans. No, there is no requirement of any security as it’s an unsecured collateral-free loan.
Ques. Can I use the loan amount for various other purposes?
Ans. As it’s a business loan, therefore it can be used only for business related purposes like business expansion, renovation, purchase of equipment, marketing, hiring, etc.
Ques. What are the segments catered by Indifi by providing business loan?
Ans. Indifi offers business loan to retailers, manufactures, service providers and traders.
Ques. What are the types of loans offered by Indifi?
Ques. What is the maximum amount of loan that I can take?
Ans. The maximum loan amount offered by Indifi is up to Rs. 50 lakh.
Ques. What is the maximum term limit for an MSME loan?
Ans. The maximum repayment tenure is up to 36 months.
Ques. What is the minimum required turnover of my business to be eligible for loans at Indifi?
Ans. The minimum annual turnover for your business shall be defined by Indifi, as per your loan amount, repayment tenure, business vintage, volume and profitability.
Ques. What are modes to repay the Indifi business loan?
Ans. The loan amount can be repaid in various forms, such as cheques, e-collect payment, NACH, PayTM & PhonePe
Ques. Which documents are required to get an MSME loan?
Ans. The documents required to avail MSME loan include the following:
- Business Plan
- PAN card
- Aadhaar Card
- Applicant’s and Business Address proof
- Business establishment proof
- Last 9 months’ bank statement
- Latest ITR, if the loan amount is more than Rs. 15 lakh