IndusInd Bank Business Loan

IndusInd Bank offers unsecured business loan at fixed interest rate of 13% – 22% p.a. for business purposes, such as business expansion, meeting medium/long-term working capital requirements. The loan amount offered is maximum up to Rs. 50 lakh with a repayment tenure of up to 4 years. The loan is sanctioned on the basis of the company’s 3 years of audited financials and business vintage.

IndusInd Bank Business Loans Highlights

Interest Rate	13% to 22% p.a. (Fixed)
Purpose	For business purposes, including expansion and to meet medium and long-term working capital requirements
Loan Amount	Up to Rs. 50 lakh
Repayment Tenure	Up to 48 months
Doorstep Delivery	Available

Comparison of Business Loan offered by IndusInd vs other Banks/NBFCs

Bank/NBFCs	Interest Rate
Axis Bank	10.75% p.a. onwards
Flexiloans	1% per month onwards
HDB Financial Services Ltd.	8% - 26% p.a.
HDFC Bank	10.75% - 25% p.a.
IDFC First Bank	10.50% p.a. onwards
Indifi	1.50% per month onwards
Kotak Mahindra Bank	16% - 26% p.a.
Lendingkart	12% - 27% p.a.
Mcapital	2% per month onwards
NeoGrowth Finance	15% - 40% p.a.
Tata Capital	12% p.a. onwards
UGRO Capital	9% - 36% p.a.
Bajaj Finserv	10% to 26%

IndusInd Bank Business Loan Processing Fees & Charges

Category	Charges
Processing Fee	Up to 3% (plus applicable taxes) of the facility amount for sanctioned cases only
Foreclosure Charges	Up to 5.5% depending upon scheme and tenure completed
Cheque Dishonour Charges	Rs. 500 + GST per instance
Stamp Duty/ statutory and other charges	As per applicable laws of the state

Co-lending Partner

Blue Jay Finlease Limited (Zip Loans)

Interest Rate (Fixed)	21%-30% depending on ZipScore
Product type	Small size Business Loan (Unsecured) with Fixed Monthly EMI
Loan Amount	Up to 5 lakh for new customers, Up to 10 lakh for Top Up customers
Repayment Tenure	Up to 3 years

Purpose of Business Installments Loan

• To meet working capital requirements
• To manage short term cash needs
• For business expansion or to acquire another business
• To add new inventory and pay salaries
• To pay vendors or buy new equipment
• For buying machinery/equipment and for timely vendor payment
• Bridge Funding for covering the gap caused by delays in credit limit increases

Eligibility for IndusInd Bank Business Loan

Financials:

• Minimum Turnover: Rs. 1 crore in latest financial year along with audited financials for 3 years
• Profitability: Positive Profit Before Depreciation and Tax (PBDT) in the last 3 years
• Paid up Capital should be more than or equal to Rs.10 lakh

Non-Financials:

• Age: 25 years – 70 years (For 2nd generation business owner age 21 years)
• Business Tenure: Minimum 3 years
• Past Payment History: 12 months’ clean track for minimum Rs. 4 lakh loan
• Applicant should own a property

Documents Required for availing Business Loan

KYC Documents: Valid Identity, Address, Date of Birth and Signature Proof

Business Continuity Proofs: Company PAN card, GST registration, Shop & establishment registration, Excise registration, SSI certificate, Last 3 years’ ITR showing business income and any other Govt. Issued Certificate establishing business existence

Ownership Proof: Copy of Sales Deed/ EC/ Govt. Leased Deed/ Latest Property tax receipt/ Water bill along with Latest Paid Electricity bill

Banking: Latest 6 months’ bank statements of all CA/ SA/ CC/ OD account (Self-attested)

Financials:

• Copy of the Latest 3 years’ ITR along with Computation and Acknowledgement
• 3 years financials with full schedules &audit report (Form 3CD & 3CB)
• Details of all running loans

Constitutional Documents

• Proprietary Concern: Bank statement infirm name along with any of the document, as mentioned in Business Continuity Proof
• Partnership: Deed and PAN card of Firm
• Company: MOA / AOA / Certificate of Incorporation/ PAN Card

FAQs

What is the minimum and maximum tenure of IndusInd Bank business loan?

Ans. The repayment tenure of business loan ranges between 12 months – 48 months

How much IndusInd Bank business loan amount can I avail?

Ans. The minimum loan amount that can be availed is Rs. 10 lakh and the maximum are up to Rs. 50 lakh

What security do I need to provide to avail IndusInd Bank Business loan?

Ans. Being an unsecured loan, there is no need to submit any security or collateral.