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Business Loan

  • Quick, hassle-free business funding with loan from IndusInd Bank
  1. Business Banking
  2. Loans
  3. Business Loans

Business Loans Overview

Access to finance is vital in order to expand a business. We understand innovation and entrepreneurship and we at IndusInd Bank create financing solutions to help companies develop.

As a step to accomplish its vision, we are introducing Business Installment Loans - an unsecured loan given basis 3 years audited financials & business vintage. It is a quick and easy way to fulfill immediate requirements like

  • Working capital requirements
  • Short term cash needs
  • Finance for business expansion or to acquire another business
  • New inventory
  • Salary commitment
  • Timely vendor payment or to buy new equipment
  • Bridge Funding to cover the gap in delayed credit limit enhancement 

Features & Benefits of Business Loans

You can avail the following facilities with IndusInd Bank’s Business Installment Loans.

Loan amount up to 50 lacs

Loan tenure up to 48 months

For business purposes, including expansion and medium/long term working capital requirements

Easy documentation & speedy processing

Door-step service

Business Loans Eligibility

Financial:

Minimum Turnover: Rs. 1 crore in latest financial year with audited financials for 2 years 
Profitability: Positive PBDT in latest 2 years
Paid up Capital: >= Rs.10 lakhs

Non-Financial:

Age:

 25 years - 70 years (for 2nd generation businessmin age 21 years)
Business vintage: Minimum 3 years
Past Payment History: 12 months clean track for minimum 4 lakhs loan.
Ownership: Ownership of property must.

 

Credit Decision TAT:
For Loan amount upto Rs. 25 Lakhs, application will be decisioned within 14 working days and for loan amount greater than Rs. 25 lakhs, same will be decisioned within 45 working days subject to submission of complete set of documents by the applicant.

How to apply

You can apply for a Business Installment Loan online. Please click on the Apply Now button on this page, fill in your details and submit and we will get back to you for further processing. Alternatively, you can visit the nearest bank branch

Documentation
Document Type Document Name
Application form Application form with photograph
KYC Documents Any one of the following documents:
Passport, Driving License, Aadhar Card, Voter Id.
Photograph Colored Photograph
In case of company/partnership firms coloured photographs of Directors/partners required.
Age Proof Any one of the following documents:
Pan, Passport, Driving License, Aadhar Card, Voter Id.
Signature Verification Passport or PAN Card.
Proof of identity / existence For Individuals: Any one of following - 
PAN Cards, Passport, Driving License, Aadhar Card, Voter Id.
For Non Indivuduals: Any one of  following -
PAN Card of firm /company, Shops & Establishment certificate, Trade license certificate, SSI registration certificate, Sales Tax/ VAT Reg certificate/GST
For companies: Memorandum of association (MOA)
For Partnership firms : Partnership Deed
Address Proof For Individuals: Any one of following - 
Passport, Driving License, Aadhar Card, Voter Id.
For Non Individuals: Any one of following -
  • Utility bill, Registered Rent agreement with Latest Utility bill in name of Landlord, Sale deed of property
Business Continuity Proof Company Pan card/ GST registration/Shop& establishment registration/Exciseregistration/SSI certificate/3 years old ITRshowing business income/Any other Govt.Issued Certificate establishing businessexistence
Constitutional Documents In case of Partnership firm: Partnership Deed, self attested by partner(s) with date.
In case of proprietorship: two proofs of identity/existence to be collected (Bank Statement Acceptable) & KYC documents of Proprietor also to be collected.
Ownership proof Any one of following - 
  • Sale Deed of the property, Water bill, Property Tax receipt, Encumbrance Certificate
Business Continuity Documents Company Pan card/ sales tax, VAT registration/ Shop & establishment registration/ Excise registration/ SSI certificate/ Bank statement 3 years old, 3 years old ITR showing business income / Any other Govt. Issued Certificate establishing business existence
Income documents All the following docs are required:
  • 2 years Income tax returns
  • Tax Audit report for the last 2 years
  • Balance Sheet for last 2 years
  • Profit and Loss statement for the last 2 years along with notes to A/c
  • Computation of income for the last 2 years
Bank Statements Latest 6 months bank statements of CC/OD a/c.(main working capital bank) and current a/c.
Qualifying RTR SOA / Repayment schedule for 12 months EMI repayment supported with bank statement from which EMI is getting cleared
URC Document is mandatory for MSME customers

Schedule of Charges

Nature of Charges Details
Processing Fees Up to 3% (plus applicable taxes) of the facility amount for sanctioned cases only.
Interest Rate Rate of interest offered is fixed ROI ranges between 13% to 22%.
Foreclosure Charges Foreclosure charges as per the terms and condition mentioned in the sanction letter/agreement and charges are up to 5.5% depending upon scheme and tenure completed
Cheque dishonour Charges Rs.500/- (plus GST and other applicable statutory levies) per instance.
Stamp Duty/ statutory and other charges As per applicable laws of the state / other charges defined in agreement where ever applicable.
Bank reserves the rights to modify any charges from time to time as it may deem appropriate and will publish them on the bank's website.