Explore a comprehensive suite of financial solutions for your business with IDBI Bank business loan. The business loans cater to MSMEs and small businesses, providing a one-stop funding destination. More so, IDBI Bank Business loans help support businesses at every step.
IDBI Business Loans interest rates are affordable, which helps meet business purposes like working capital requirements, acquiring new equipment & even funding operations, etc. with IDBI MSME Loan, get faster access to funding for your business growth and working capital needs.
Read further to know more about the convenience of a one-stop finance solution for extensive business loans from IDBI Bank.
IDBI Bank Business Loan Interest Rates & Charges
IDBI Bank Business loan specifications to help you make informed decisions while borrowing. Follow the table to know IDBI Bank business loan interest rate and other charges associated:
| Loan type | Business loan |
| Loan Amount | Up to Rs. 2 Crore |
| Interest Rate | As applicable |
| Collateral | As applicable |
| Tenure | Up to 7 years. |
| Processing Fee | Upto 1% of the loan amount |
Type of Business Loans by IDBI Bank
The table below provides detailed information on each loan scheme that IDBI Bank offers, including their respective purposes, tenures, loan amounts, and processing fees:
| Loan Name | Purpose | Tenure | Loan Amount | Processing Fees |
|---|---|---|---|---|
| MSME Loans | Working capital, equipment financing, expansion. | Up to 7 years | Rs.1,00,000 - Rs. 500Lakh | Upto 1% of the loan amount |
| Property Power Loan (LAP) | Purchase property, renovate property, expand business. | Up to 12 years | Rs.1,00,000 - Rs. 500Lakh | Upto 1% of the loan amount |
| Loan to Small Road and Water Transport Operators | Purchase vehicles, finance working capital, upgrade infrastructure | Up to 7 years | Rs.1,00,000 - Rs. 2 Crores | Upto 1% of the loan amount |
| Sahaj Vypar Loan | Working capital, equipment financing, inventory. | Up to 5 years | Rs. 10 lakh - Rs. 500 Lakh | Upto 1% of the loan amount |
| IDBI Loan for Service Sector | Working capital, equipment financing, marketing. | Up to 7 years | Rs 10 Lakh - Rs 500 Lakhs | Upto 1% of the loan amount |
| IDBI Mudra Loan | Working capital, equipment financing, inventory. | Up to 5 years | Upto Rs. 10 Lakhs | Nil |
| Stand up India (for women entrepreneurs) | Working capital, equipment financing, inventory. | Up to 7 years | Rs10 lakh to Rs1 crore | Nil |
| PM Street Vendor's Atmnirbhar Nidhi (PM SVANidhi) | Working capital, equipment financing, inventory. | Up to 12 EMI | Rs. 10000/ per borrower | Nil |
| IDBI Equipment Finance | Purchase of equipment (machinery, vehicles, computers). | Up to 7 years | Rs. 10 Lakhs - Rs 5 Crores | Nil |
| Sanjeevani Express (pre-approved loan) | Cover unexpected expenses. | Up to 3 years | Rs. 5Lakh - Rs 10 Lakh | Nil |
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IDBI Bank Business loans Eligibility Criteria
As a self-employed individual or part of a structured business entity, follow these IDBI business loan eligibility criteria to set the foundation for a potential loan application.
- Age: 21 years - 65 years old.
- Business Vintage: The business must have a minimum vintage of 3 years.
- Applicant Types: Individuals who are self-employed /Business entities such as partnerships/Limited liability companies (LLCs)/ Private limited companies/ Proprietorship firms.
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IDBI Bank Business Loan EMI Calculation:
Start the financial planning of your IDBI Bank Business Loan using an online EMI calculator. The business loan EMI calculator provides you with a clear picture of your payable EMI for managing repayments to avoid late payment and penalties. Use this EMI calculator to experience a streamlined understanding of your EMI by just providing details of loan tenure, interest rate, and loan amount.
Disclaimer: Please note that the estimations here are only estimates around the values you enter and are not subject to change unless you do.
Documents Required for IDBI Bank Business loans
To facilitate a smooth application process, ensure you have the following documents accurately ready:
- PAN Card: Provide PAN cards for both the applicant(s) and the firm.
- Proof of Identity: Submit valid proof of identity documents.
- Proof of Residence: Furnish documents verifying your residential address.
- Business Existence Proof: Include documents such as Sole Property Declaration, Memorandum and Articles of Association, Original Board Resolution, or Partnership Deed.
- Proof of Business Continuation: Provide evidence showing the continuity of your business.
- Financial Documents: Submit bank statements and relevant business financials.
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Benefits of IDBI Financing
Experience these advantages of MSME financing with IDBI Bank business loan:
One stop solution
Get complete bank solution
at one place
Interest Rate
Avail loan at an affordable
interest rate
Hassle-free process
IDBI Bank offers hassle free,
digital application process
Fastest Loan Approval
IDBI Bank brings to fastest
credit delivery
Loan for Various needs
IDBI Business loan meets
various business purposes
How to Apply for IDBI Bank Business Loan
Follow these quick and easy steps to apply for your IDBI Bank Business loan online
- Step 1: Get In Touch with toll-free numbers
- 1800-209-4324
- 1800-22-1070 (24x7 service)
- Step 2: Locate and visit the nearest IDBI Bank branch to discuss your MSME finance needs in person.
- Step 3: Receive a Call Back
- Step 4 : After reaching out, expect a prompt call back from our dedicated representative, who will guide you through the next steps.
Steps to Apply for Business Loan on Buddy Loan
Apply for IDBI business loan online through Buddy Loan in a simple and hassle-free manner . Follow the steps and apply for your business loan now!
- Step 1: Visit buddyloan.com or Download & install the Buddy Loan app (Android or iOS).
- Step 2: Open the business loan application page. Enter your mobile number and OTP.
- Step 3: Specify the desired loan amount and email. Next, choose the Business Loan option.
- Step 4: Choose if you have a Business Proof (Yes/ No)
- If ‘Yes’ (If you have a business proof), enter your business and personal details.
Or - If ‘No’ (If you do not have a business proof), choose the profession type and enter your personal details.
- Step 5: Provide income details and Click the ‘Submit’ button.
Apply for a business loan now!
IDBI Bank Business Loan Customer Care Number
For help with IDBI's business loan products and services, reach out to their dedicated customer care team through the following toll-free numbers:
- General Enquiries: 1800-209-4324
- Account-related Concerns: 1800-22-1070
- Email: customercare@idbi.co.in
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Frequently Asked Questions
The interest rates for business loans in IDBI Bank vary based on factors such as the type of loan, the applicant's profile, and prevailing market conditions.
The age limit for availing a business loan from IDBI Bank typically ranges between 21 years to 65 years.
The eligibility criteria may include the minimum business registration proof or business type. For more detailed information, please revisit the details provided above.
Yes, IDBI Bank typically allows borrowers to repay their business loan amount before the specified term. However, it is advisable to review the terms and conditions of the specific loan agreement or contact the bank directly to understand any prepayment options, associated charges, or conditions.
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