IDFC FIRST Bank Business Loan

IDFC FIRST Bank Business Loan

Purpose: IDFC FIRST Bank offers unsecured business loans to self-employed individuals and businesses for meeting the working capital requirements, expansion to new markets, purchase of equipments, etc. The bank also claims to offer quick funding of up to Rs 50 lakh through the IDFC FIRST Bank Business Loan Scheme based on the current account statement of the applicant.

Loan Amount: Up to Rs 1 crore

Tenure: Up to 4 years

IDFC FIRST Bank Working Capital Loan

Purpose: IDFC FIRST Bank offers a wide variety of working capital loan products such as overdraft, cash credit, letter of credit, bank guarantee, term loan and other trade products. It also offers working capital loans backed by property for MSME, traders, manufacturers and start-ups. IDFC FIRST Bank provides industry-leading propriety tools for faster processing. Borrowers of IDFC FIRST Working Capital Loans can also avail the benefits of complete banking product suite such as overdraft account, current account, foreign exchange, trade and payment collection solution.

Loan Amount:

Types of IDFC FIRST Bank Working Capital Loans:

Fund Based and Non Fund Based-

IDFC FIRST Bank provides expert advisory on working capital loans and assesses the business based on the turnover. It offers flexible collateral options to the applicants.

Gold Card Scheme for Exporters-

This scheme is offered to exporters having good credit history, for easy access to export credit. The credit limit for this scheme is sanctioned for tenures of up to 3 years and is renewed automatically every year. The bank may also provide an additional standby limit or ad-hoc limit of more than 20% at the request of the borrower. Based on the creditworthiness of the card holder, the bank would waive off collateral and provide exemption to the card holder through ECGC guarantee schemes.

The time limit for the Gold Card Scheme is stated below:

IDFC FIRST Bank Professional Loans

Purpose: IDFC FIRST Bank Professional Loans are unsecured, collateral free loans offered to salaried CAs and doctors, and non-individuals such as hospitals and diagnostic centres. The bank also offers instant loan of up to Rs 30 lakh based on professional qualifications.

Loan Amount: Rs 5 lakhs to Rs 1 crore

Tenure: 1 year to 7 years

Loan Facility:  Term Loan & Drop Line Overdraft

IDFC FIRST Bank Construction Equipment Loan

Purpose: IDFC FIRST Bank Construction Equipment Loan provides financing for a wide variety of construction equipment such as Excavators, Mini Excavators, Backhoe Loaders, Tipper/ Dumpers, Self-Loading Concrete Mixers, Cranes, Transit Mixers, Forklifts, Compactors, Road Rollers, Wheel Loaders, Compressors, etc.

Loan Amount: Rs 5 lakhs to Rs 1 crore

Tenure: 1 year to 7 years

Loan Facility:  Term Loan & Drop Line Overdraft

IDFC FIRST Bank Machinery Loan

Purpose: IDFC FIRST Bank offers a Machinery Loan facility for businesses to acquire cutting-edge machinery and equipment.

Loan Amount: Up to Rs 10 crore

Tenure: 1 year to 10 years

LTV: Up to 100%

IDFC FIRST Bank Healthcare Equipment Loan

Purpose: IDFC FIRST Bank offers Healthcare Equipment Loan facility to healthcare providers for financing cutting-edge diagnostic and imaging equipment or upgrading existing facilities or expanding business. The eligible healthcare providers include hospitals, diagnostic centres, pathology labs and independent doctors.

Loan Amount: Up to Rs 10 crore

Tenure: 1 year to 10 years

LTV: Up to 100%

IDFC FIRST Bank Loan Against Property

Purpose: IDFC FIRST Bank Loan Against Property is offered to salaried and self-employed individuals and businesses for all kinds of residential properties, commercial properties, industrial plots and godowns. IDFC FIRST Bank applicants can also avail Lease Rental Discounting against rental income.

Loan Amount: Up to Rs 15 crore

LTV Ratio: Up to 80%

Tenure: Up to 25 years

IDFC FIRST Bank Dropline Overdraft Loan

Purpose: IDFC FIRST Bank offers Dropline Overdraft Loan, a pre-approved collateral-free line of credit, which allows applicants to utilize the loan amount up to an agreed limit. However, the actual withdrawal limit of the overdraft reduces every month till the end of the loan tenure. Interest is levied only on the amount drawn and not on the sanctioned limit. Applicants can deposit the amount in the account anytime, to reduce the outstanding balance.

Benefits of IDFC FIRST Bank Dropline Overdraft Loan:

For IDFC FIRST Bank Unsecured Business Loans

For IDFC FIRST Bank Professional Loans

For IDFC FIRST Bank Loan Against Property

IDFC FIRST Loan Against Property are offered to MSMEs or non-individual entities such as Limited Liability Partnership, Private Limited Companies, Sole proprietorships, partnership firms, etc.

For IDFC FIRST Bank Machinery Loan

IDFC FIRST Machinery Loans are offered to those manufacturers involved in machine tools, printing, packaging, plastic moulding and related works.

For IDFC FIRST Bank Unsecured Business Loans

For Salaried Professionals-

Additional documents for Self-employed Professionals and entities such as diagnostic centres and hospitals

Business Proof- Shop Act License, MOA/AOA, GST registration/ITR, partnership deed

Any 1 of the additional documents

For IDFC FIRST Loan Against Property

Any 1 of the additional documents

IDFC FIRST Bank Business Loan Customer Care Number

Grievance Redressal:

In case your are not satisfied with the response received from access channels, you can escalate your concern by contacting the Nodal Officer

For further escalation, write to:

Mr. Vipul Raj

PNO, IDFC FIRST Bank Limited, Building No. 2,

Raheja Mindspace, MIDC Industrial Area,

Shiravane, Juinagar, Nerul

Navi Mumbai- 400706

Maharashtra, India

Email Id: pno@idfcfirstbank.com

Contact Number- 18002099771