IndusInd Business Loan

IndusInd Bank offers unsecured business loans to support innovation and entrepreneurship, enabling seamless business expansion. They provide loans up to 50 Lacs with a flexible 48-month tenure, requiring no collateral based on three years of audited financials and business establishment.

Induslnd Bank’s unsecured business loan application process ensures businesses meet their immediate financial needs. Read further to learn more about Indusind business loans.

IndusInd Business Loan Highlights

There is more to IndusInd unsecured business loans with a focus to uplift customers in rural, semi-urban & urban areas. Refer the table to know more about Induslnd business loan details and highlights that you should be aware of before proceeding further:

IndusInd Business Loan Interest Rates

IndusInd business loan interest rates depend on the loan type, amount, tenure and internal credit policies. However , the business loan interest rates start at 13% per annum and can go up to 22% per annum onwards. The actual interest rate applicable will depend on the financial profile of the applicant including factors like business profitability, turnover, and credit score amongst others.

IndusInd Business Loan Fees & Charges

IndusInd Bank outlines transparent fees and charges for its business loan offerings including processing fees. Follow the table below to understand the overall costs of financing.

Types of IndusInd Business Loans

Let;s go through the different types of business loans offered by IndusInd bank from below:

Working Capital Loans

IndusInd Bank offers a range of working capital loans catered to manufacturers, traders, exporters/importers, vendors and distributors. This credit facility provides short-term financing to meet unique business requirements related to working capital, trade transactions and cash flow.

Features

• Loan Duration: 3 years
• Business Vintage: 3 years
• Profitability Requirement: 2 years
• Loan Limits: Rs. 50 lakhs to Rs. 25 crores
• Turnover Range: Rs. 4 crores to Rs. 250 crores
• Collateral Options: Residential, commercial, industrial and liquid securities

Loan Against Card Receivables

Induslnd Bank offers this type of credit facility to aid businesses with quick access to short/medium-term working capital without traditional collateral. It advances money against your card sales/receivables.

Features

1. Ticket Size:
   • Unsecured – Upto Rs. 50 lakhs
   • Secured – Upto Rs. 300 lakhs
2. Tenure: Up to 3 years
3. No collateral is required for loans below Rs. 50 lakhs
4. Avail overdraft on current account without extra charges
5. Leverages your card dues to resolve temporary cash crunches.

Small Ticket Business Loans

Induslnd Bank offers Small Ticket Business Loans from Rs. 2 lakhs to Rs. 20 lakhs to meet urgent short-term capital requirements of small enterprises. It is an easy way to access finance fast.

Features:

• Loan Amount – From Rs. 2 lakhs to Rs. 20 lakhs
• Tenure – 12 to 36 months
• For working capital needs and business expensess
• Minimum 2 years in business
• Age – 25-70 years
• Fast processing and disbursal
• No collateral required

Business Loan Against Securities

Business Loan Against Securities provides an overdraft facility against investments in shares, mutual funds, and bonds without liquidating them. It offers instant liquidity to meet business needs.

Features:

• Avail funding against a single script/security
• Wide range of approved securities
• Third-party DP securities can also be pledged
• No charges for non-utilization of the sanctioned amount
• Flexible repayment with no prepayment penalties

IndusInd Business Loans Eligibility Criteria

IndusInd Bank has established clear eligibility criteria for Business Loans. The criteria are categorized into financial and non-financial aspects to ensure a comprehensive evaluation.

Financial:

• Minimum Turnover: A minimum turnover of Rs. 1 crore in the latest financial year with audited financials for the past 3 years.
• Profitability: Positive Profit Before Depreciation and Tax (PBDT) in the last 3 years.
• Paid-up Capital: Minimum paid-up capital of Rs. 10 lakhs.

Non-Financial Eligibility:

• Age – From 25 years to 70 years old.
• Business Vintage: A minimum business vintage of 3 years is required.
• Past Payment History: A clean payment track record for the past 12 months, specifically for loans of a minimum amount of Rs. 4 lakhs.
• Ownership: Ownership of property is a mandatory requirement

Documents Required for IndusInd Business Loans

Ensure that all documents are self-attested for smooth and efficient processing of your Induslnd business loan application. Read the listicle below carefully to keep the documents handy:

KYC Documents: Provide valid proof of identity, address, date of birth, and signature.

Business Continuity Proof:

• Company PAN card
• GST registration,
• Shop & establishment registration,
• Excise registration
• SSI certificate,
• 3 years old ITR, or any other government-issued certificate.
• 3 years financials with full schedules and audit report (Form 3CD & 3CB).
• Provide the latest 6 months’ bank statements for all CA/SA/CC/OD accounts, all self-attested.

For Proprietary Concern

• Partnership: Deed and PAN card of the firm.
• Company: MOA/AOA, Certificate of Incorporation, PAN Card.

Ownership Proof:

• Include a copy of the Sales Deed,
• EC, Govt. Leased Deed,
• Latest Property tax receipt,
• Water bill, along with the latest paid Electricity bill.

IndusInd Business Loan Interest Rates Vs Other Lenders

IndusInd Bank offers unsecured business loans with an interest rate starting at as low as 13% p.a. The table displays the interest rate provided by major banks and NBFCs like ICICI, and Axis and lower than rates from players like Kotak and RBL.

Benefits of IndusInd Financing

IndusInd Business Loans aim to serve your business growth, offering not just funds but a strategic financial partnership. Taking control of your finances is now easier than ever with quick unsecured business loans.

How to Apply for IndusInd Business Loan

Apply for your Induslnd business loan online by following the quick steps below:

• Step 1 – Click on the “Apply Now” button on this page
• Step 2 – Fill in your details in the online application form. Ensure to provide accurate and essential details about your business and financial requirements.
• Step 3 – Submit the form, once you submitted the application the dedicated team will promptly reach out to you for further processing.

Steps to Apply for Business Loan on Buddy Loan

Are you on the lookout for a quick business loan with a budget-friendly interest rate? Buddy Loan has got your back! Now, you have the opportunity to avail a business loan starting at an interest rate of just 11.99% per annum.

• 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.

IndusInd Loan Repayment Plans

IndusInd Bank offers an array of loans like home loans, vehicle loans, personal loans etc. that can be repaid seamlessly through Equated Monthly Installments (EMIs). Auto-debit facility ensures timely EMI payments.

Here are the repayment plans:

• EMI Facility – Most loans are repaid by way of EMIs that are fixed amounts comprising principal and interest components. EMIs get reduced over the loan tenure as the interest component declines.
• Flexi EMI – Option of paying only interest component in EMIs for initial loan tenure years and principal + interest in later years. Offers flexibility.
• Part/Full Prepayment Allowed – Option to prepay partial or complete loan amount ahead of tenure to reduce interest cost.

IndusInd Business Loan Customer Care Number

The IndusInd Bank customer care number for business loans depends on your location and specific needs:

• Toll-free number: 18602677777
• Landline number: 022-44066666

Here are the dedicated Numbers for Specific Needs:

Unsecured Business Loans:

• Toll-free number: 080-46822222
• Landline number: 022-61861861

Working Capital Loans:

• Toll-free number: 1800-266-7777
• Landline number: 022-66016601

You can also send your queries or concerns from your registered Email ID to customer.care@indusind.com.However, if you require further assistance or are unsatisfied with the resolution you can write to complaints@indusind.com from your registered Email ID.