To know more about their offerings and to initiate your business loan application with Indian Bank read further.
Indian Bank Business Loan Details
The table below summarizes the interest rate and other details associated with Indian Bank business loan services.
| Loan type | Business loan |
| Loan Amount | Upto ₹2 crores |
| Interest Rate | Based on the scheme chosen |
| Tenure | Varies based on the scheme chosen |
Note: Please be informed that the Indian Bank business loan interest rates are subject to change per the market.
Type of Business Loans by Indian Bank Business Criteria
Indian Bank provides a variety of business loan schemes to address the diverse financial needs of enterprises. The table below outlines the range of MSME schemes, including the Indian Bank E-Mudra loan and more, providing a comprehensive overview to help you identify the scheme that best aligns with your specific business requirements:
| Loan Scheme | Purpose | Loan Amount | Tenure |
|---|---|---|---|
| IB DOCTOR PLUS | Working Capital, Hospital/Clinic Purchase/Construction | No Ceiling (Max. for fresh passed out students – Rs.2.00 Crores) | Maximum 120 months. |
| IND MSME VEHICLE | New Vehicle Purchase for Existing MSMEs | Maximum – Rs.2.00 crores | In case of LMV : 60 EMIs, In case of HMV: Maximum 60 months (Door to door) |
| IND-SME EASE | Working Capital Requirements | Rs.10.00 Lakhs- Rs.50.00 Lakhs | 120 months without any holiday period |
| IND-SURYA SHAKTIs | Setting Up Solar Power Plants | No Ceiling | Door to Door Tenor: 15 years |
| Shishu Mudra loan | New Business (Manufacturing/Service/Trading) | Rs. 10,000/- Rs 50,000/- | Minimum : 24 EMIs Maximum: 60 EMIs |
| IND MSME SAKHI | Setting Up Manufacturing/Trading/Service Units | Above Rs 0.10 Lakhs- Rs 4.00 Lakhs | Maximum : 60 Months (Including Moratorium if any ) |
| IND – PM Vishwakarma | Improve Quality & Reach of Artisan/Craftsperson Products | Rs. 1.00 Lakh – Rs. 2.00 Lakhss | First Tranche: 18 Months, Second Tranche: 30 Months |
| MSME 1B | Working Capital, Term Loan for Fixed Assets | ₹0.10 Crore – ₹5.00 Crore (Working Capital), ₹0.10 Crore – ₹2.00 Crore (Term Loan) | Maximum 84 months (Term Loan) |
| IND-SME Secure | Working Capital, Fixed Assets, Building Construction | Minimum ₹10.00 Lakhs, No Maximum Ceiling | Maximum 15 years (Term Loan) |
| IND-SME E-VAAHAN | Purchase of Electric Vehicles (2/3/4 wheeler) | No Maximum Ceiling, More than one vehicle per borrower possible | Maximum 48 months (2/3 Wheeler), Maximum 60 months (4 Wheeler) |
| IB CONTRACTORS | Work Orders from Govt/PSUs/Corporates (Machinery Purchase, Working Capital) | ₹10.00 Lakhs- ₹10 Crore (per borrower), ₹20 Crore (per group) | Maximum 84 months (including holiday period) |
| IB MY OWN SHOP | Purchase/Construction/Renovation of Business Premises | Maximum ₹10.00 Crore | As per MSME Policy of the Bank |
| MSME LAP | Offers larger loans for various business purposes with longer repayment terms. | Rs.10.00 Lakhs- Rs.10.00 Crores | 90 Months |
| Weaver MUDRA | Provides subsidized loans for handloom weavers and organizations. | Concessional loan upto ₹10 lakhs max | Maximum 3 years |
| MSME AUTO – RENEWAL | Expedites the renewal process for existing MSME loans. | Renew MSME loans under Rs. 20 lakhs | Fully Digital Loan Process |
Note: Please be informed that the Indian Bank business loan interest rates are subject to change per the market.
Curious to know more? Learn about working capital, equipment financing, medical equipment financing, construction equipment financing & term loans from the linked pages.
Indian Bank Business loans Eligiblity Criteria
To avail a business loan with Indian Bank your business must meet this eiglibity criteria.For the most up-to-date information, you can also visit the official website of Indian Bank.
- Age: 21 years – 65 years old.
- Business Establishment: The business must have a minimum vintage of 3 years.
- Applicant Types: Self-employed individuals/Business entities such as partnerships/Limited liability companies (LLCs)/ Private limited companies/ Proprietorship firms.
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Documents Required for Indian Bank Business Loans
The listicle provides the specific documentation requirements you have to fulfill while applying for Indian Bank Business loan. However, you can also visit the official website of Indian Bank for the most accurate list:
- Basic Documents: ID, Address Proof, ITRs, Bank Statements
- Financial Proof: Audited financials for larger loans, proof of business continuity
- Security Documents: Property documents for secured loans (if applicable)
- Specific Requirements: Sales tax and Income Tax Returns (ITR) records
Indian Bank Business Loan EMI Calculation
Calculate your Indian Bank Business Loan EMI with ease & convenience.
This user-friendly tool ensures a seamless understanding of your payable EMI calculation. It ensures a seamless understanding of your payable EMI. Just input your loan amount, interest rate, and tenure to receive instant and accurate results. Plan your Indian Bank Business Loan finances smartly with a business loan EMI calculator!
Your Amortization Schedule (Yearly/Monthly)
Disclaimer: Please note that the estimations here are only estimates around the values you enter and are not subject to change unless you do.
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Benefits of Indian Bank Financing
These are the advantages of MSME financing that Indian Bank offers:
How to Apply for an Indian Bank Business Loan
Follow these steps diligently to apply for Indian Bank business loan online to ensure a seamless loan journey:
- Step 1 – Visit the Official Website and begin by accessing the website to start your business loan application.
- Step 2 – Within the website, locate the ‘Products’ section and choose between the loan categories, namely ‘MSME’ and ‘Corporate.’
- Step 3 – Select Loan Facility offered within your chosen category. Click on the one that aligns with your business requirements.
- Step 4 – Press the ‘Apply Now’ button to begin with the application process on the Indian Bank website.
- Step 5 – Provide the details in the application form.
- Step 6 – After filling in the details and attaching the documents, click on the ‘Submit’ button to send your application for processing.
Steps to Apply for Business Loan on Buddy Loan
Apply for a business loan online through Buddy Loan simply and hassle-freely. 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.
- If ‘Yes’ (If you have a business proof), enter your business and personal details.
- Step 5: Provide income details and Click the ‘Submit’ button.
Apply for a business loan now!
Get Business Loan Online Up to ₹ 2 Crore By entering your number, you're agreeing to Terms & Conditions and Privacy Policy.
Indian Bank Business Loan Customer Care Number
For swift and reliable support with your banking matters related to business loans, reach out to Indian Bank’s dedicated customer care team.
To receive immediate help and clarification on your banking concerns, dial the Indian Bank
Customer Care number at 1800-425-0000.
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