Here are a few factors

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Location 50Km from Branch
CIBIL Score 680+
Processing Offline
Business Vintage 3 Year
Minimum Turnover Minimum 1Cr to 250 Cr
Loan Amount & Tenure 10 Lakh to 50 Lakhs (Group Exposure75 lac)
(12 month to 36 Month)
Loan Product Only Term Loan No OD Limit
Rate of Interest & Type 16% - 20%(Reducing)
TAT Sanction-3 Days
Disbursement-7 Days
Processing Fees 2%
Foreclosure Charges 4%
Applicant Type Any Self Employed Person
Whether Co-Applicant Mandatory Mandatory
Proprietor Age/Co-Applicant Age 24 Year- 65 Year
Part Payment Allowed Yes
Whether Ownership Proof Required Yes, Either Office or Residence should be owned.
Business Registration Proof Mandatory Yes
Program Banking-30 Lac, GST-40 Lac, Income-50 Lac
Product for Professionals No
Negative Profile School, Advocates, Jewellers, Share Traders, Gym ,Liquor Business, Real Estate
USP Both Side Rented applicant if he is living at same place since 5 year
Additional 1. Minimum 51% Shareholding required on Loan if applicant is LLP/Partnership firm/Company
2. Grain Traders is catious profile
3. 78% Banking Churning required in Income Program

Documents Required for IndusInd Bank Business Loan

Let’s look into the eligibilities and required Documentation to make your application process even smoother:

  • KYC of applicant & Co-Applicant
  • Last 3 year ITR with computation of income of applicant & co-applicant
  • Last 3 year audited balance sheet of applicant
  • Last 3 year Tax audit report of applicant
  • Last 12 month Bank Statement of applicant & co-applicant
  • 26AS of last 2 year of applicant & co-applicant
  • Copy of GST registration
  • Copy of MSME registration
  • Copy of Last 12 month GST return
  • Sanction letter of all running loan
  • Debt Sheet
  • Latest utility Bill of residence if owned or rent agreement if rented
  • Latest utility Bill of Office if owned or rent agreement if rented
  • 2 Reference with contact details
  • Last 3 year Debtors & Creditors on letter head
  • List of Directors & Shareholders, if applicant if Company or List of Partners if applicant is Partnership firm/LLP

Some Important Points

1. KYC Means
If Applicant is
  • Company-MOA, AOA, COI , PAN Card
  • Partnership Firm/LLP- Partnership Deed & PAN Card
  • Proprietorship Firm- PAN Card, Adhaar Card, Passport size photo
For Co-Applicant
  • KYC means  Adhaar Card, PAN Card, Passport Size Photo
Co-Applicant means in case of
  • Company : Directors
  • Partnership firm/LLP : Partners
  • Proprietorship Firm : Spouse of Proprietor
2. If applicant is professional, then his professional degree is required

Note : Induslnd Bank Business Loan may ask for additional documents based on the applicant’s profile. The above list is for reference purposes only.

About IndusInd Bank Business Loan

IndusInd Bank Limited is a new-generation Indian bank. IndusInd Bank offers a wide range of personal banking services including deposits, loans, cards, insurance etc to meet your expectations. The bank offers commercial, transactional and electronic banking products and services. The bank specializes in retail banking services and is also working on expanding its network of branches all across the country. For a business to grow, having access to capital is essential. At IndusInd Bank, they understand entrepreneurship and creativity, and theft developed financing options to support business growth. It is a quick and simple solution to meet urgent needs such as:

01
Visit Our Website

For the first step, you will have to visit our website to explore the loan options that fit your needs.

02
Select and Apply

Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.

03
Submit Your Document

One of the most important steps. Now you will have to submit all the required documents digitally.

04
Enjoy Your Financial Freedom!

Once your application is approved based on your eligibility, you will receive your loan amount shortly.

Leave Your Question

FREQUENTLY ASKED QUESTIONS

A company loan can be repaid over a period of 12 to 36 months.

The minimum and highest loan amounts available are respectively Rs. 10 lakh and Rs. 75 lakh.

There is no requirement to provide any security or collateral because the loan is unsecured.

The interest rate for the IndusInd Bank business loans varies from 16% to 18% p.a.

Yes, foreclosure charges as per the terms and conditions mentioned in the sanction letter/agreement, and charges are up to 4% depending upon the scheme and tenure completed, are applicable on the IndusInd bank business loan.