Quick Business Loan Overview
With our Quick Business Loans, get quick and easy access to finance and fulfill short and medium term fund requirements of your business.
Become a smart business owner and access pre-qualified business loan in just a few clicks with digital loan application and quick disbursal.
Apply for a Quick Business Loan in 5 simple steps
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Enter Personal and Business Details (10 mins)
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Check Your Eligibility(5 mins)
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Complete Your Video KYC and verification process (15 mins to 48-hours)
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Get the Loan Sanctioned to Grow Your Business (Instant)
Quick Business Loans Features and Benefits
Lightning-fast disbursal 
Average disbursal time = 2 days Fastest loan disbursal ever = under 10 minutes 
No Need to Open a Bank Account
Skip the hassle of opening a new current account
100% Digital Process
Zero documentation and branch visits
Affordable interest rates 
Starting from 15.99% Per Annum 
No collateral is needed
Accelerate business growth with unsecured funding
Eligibility Criteria for Quick Business Loan
Go through the financial and non-financial eligibility criteria explained below to make your loan application process easy:
| Non-Financial Eligibility Criteria | Financial Eligibility Criteria |
|---|---|
| 25-67 years old | For > Rs. 10L, GST Turnover > 2cr** |
| Established for a minimum of 2 years | Business profitable for 2+ years |
| CIBIL score should be 680 or higher | No LIVE Overdraft facility    |
| Office set up with name board | 6 months bank statement*** |
| On-time GST3RB and GSTR1 filings   |  |
| Active and regular GST for more than Rs. 5 Lacs*Â | Â |
* All new to the bank, sole proprietary customers, require an active and regular GST, irrespective of the amount
Documents (Digitally fetched) Required for a Quick Business Loan
Completing the business loan applications carefully is crucial for entrepreneurs to increase their chances of approval. So, what are the documents required for a business loan?
Here’s the list of documents required for a business loan application for different types of businesses:Â
| Type of Loan Documents | Â Sole Proprietors | Â Individual Business Owners |
|---|---|---|
| Current Account Bank Statement for the Last 6 Months | The entity name on the bank statement should match the name on the business proof submitted. | The business owner's name on the bank statement should match the name on the business proof submitted. |
| Business Proof Documents | 1. GST Form
2.2: If the GST Form is less than 24 months old, then URC is mandatory |
1. Udyam Registration Certificate (URC)
Note: The issued date of the document chosen from this list should be >= to 24 months. |
| KYC Document |
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Quick Business Loan Fees & Charges
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| Parameter | Description |
|---|---|
| ROIÂ | Starts at 15.99% P.AÂ |
| Processing Fees | 2% |
| Documentation Charges | ₹1,000 for loan amount < ₹10 Lakh ₹1,500 for loan amount >= ₹10 Lakh |
| Stamp Duty Charges | Varies from state to state |
| Foreclosure Charges | 0 - 12 months - 5.5% of Outstanding Amount 12 - 24 months - 5% of Outstanding Amount 24 - 36 months - 3.5% of Outstanding Amount |
To view the complete list of fees and charges, please click here.
Quick Business Loan FAQs
What are the different types of collateral-free business loans?
IndusInd Bank offers Quick Business Loans to its customers which are instantly disbursed in the existing current account of the customers.
How long does it take to process a business loan application?
IndusInd Bank is committed to taking the least time to handle loan applications. The precise duration depends on several variables, like the type of loan applied for and the detailing furnished in the application. However, the process looks like this:
- Step 1:Â You have to enter your basic details, which takes approximately 6 minutes
- Step 2:Â Next, you need to check whether you are eligible for a business loan
- Step 3:Â Once you pass the eligibility criteria, you need to complete your Video KYC, which takes approximately 5 minutes
- Step 4:Â Once your Video KYC is complete, you quickly receive funds in the current account of your choice. Usually, this step may take anywhere from 10 minutes to 2 days to complete.
What is the minimum and maximum business loan amount I can get?
IndusInd Bank’s Business Loans start from ₹2 lakhs and reach up to ₹20 lakhs.
Can I change the business loan tenure after the eligibility is calculated?
No, tenure is a factor using which eligibility is computed. The longer the tenure, the better the chances of getting a higher eligibility.Â
Can I upload screenshots of bank statements instead of PDF?
No, only PDF files of bank statements are allowed. You can download the same easily via the net banking portal or the mobile app of your primary bank.
Can I foreclose my loan? If yes, how do I go about it and what are the foreclosure charges?Â
Yes, you can foreclose your business loan by sending us your request at our email address - reachus@indusind.com Don’t forget to mention your Loan Account Number.
The foreclosure charges levied are as follows:
Duration Foreclosure Charges (% of the outstanding amount) 0-12 months 5.5% 12-24 months 5% 24-36 months 3.5% What are the charges/fees involved?
Fees/charges Rate of Interest 15.99% to 22.99%
Processing Fees 2% of disbursed loan amount
Documentation Charges â‚ą1,000 for < â‚ą10Lacs and â‚ą1,500 for >= â‚ą10Lacs
Stamp Duty Varies from state to state When will my EMI get deducted and what is pre-EMI?Â
EMI is deducted on the 4th of every month. It is recommended to maintain enough balance in your current account to avoid missing EMIs.
Pre-EMI: Loans disbursed between 22nd day of any month till 4th of the next month, will be subject to pre-EMI. The next EMI will be due in the following month. This pre-EMI is not an additional charge and goes towards payment made for Principal and Interest outstanding. Â
Example: Mr. A takes a loan on 23rd May 2024. He will be charged pre-EMI for 23rd May to 4th June. The first full EMI will be deducted only on 4th July 2024. Â
What happens if I don’t maintain enough balance on EMI deduction date?
If you do not maintain enough balance in your current account on EMI deduction day, which is 4th of every month, then it will be considered as a delayed payment. It will also negatively affect your CIBIL history and score.
What is the minimum and maximum amount permitted under unsecured loan program?
Range
Amount Minimum
â‚ą2,00,000
Maximum
â‚ą20,00,000
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ÂHow much time does the credit of the loan amount take post approval?
You can get the amount credited instantly, post approval. All you have to do is resume the online application journey and sign the agreement with loan terms.
What is the age limit to apply for the loan?
Range Age Minimum 25 years Maximum 67 yearsÂ
Do I need to put something as a collateral to avail a business loan from IndusInd Bank?
This is a 100% collateral-free loan program by IndusInd Bank. There is no need to submit any collateral.
What is the minimum CIBIL score required to be eligible for this business loan?
A minimum CIBIL score of 680 is required to avail the loan. Â
My business is currently making losses. Will I still be eligible for the loan?
No, it is mandatory for the business to be profitable in the last 2 years.Â
What is Business Vintage and what is the minimum requirement for the same?
Business Vintage refers to the time since the business is being run. For instance, your business was established in January 2020. By January 2024, the business vintage would be 48 months or 4 years.
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