IndusInd Bank Business Loan
Induslnd Bank is one of the most trusted banks for business loans and other retail banking services. The bank was established in the year 1994 in Mumbai. It is a private sector bank which specializes in retail banking services and has been awarded multiple times for its excellent services. Induslnd Bank offers a wide range of financial product, and services to easily meet the varying requirements of its customers.
If you are facing financial deficit in your business then Induslnd Bank Business Loan can be your best-suited loan option. It provides a loan in high quantum, and that too at a competitive rate of interest. Induslnd Bank offers the business loan on an instant basis, which helps you to meet your urgent financial requirement. The best part is that you do not need any collateral for getting your loan approved.
Reasons to choose for Induslnd Bank Business Loan
Induslnd Bank Business Loan is easily and instantly available which helps you to meet your planned as well as unplanned business needs. There are numerous other benefits of applying for Induslnd Business Loan; have a look:-
- Loan up to 15 lac
- Flexible repayment tenure up to 5 years
- Apply online in just clicks
- Low processing charges up to 2%
- Quick processing of loan
- Foreclosure facility available
- Easy documentation process
- Disbursal of funds within 2 days
- No collateral required
IndusInd Bank Business Loan Interest Rate
Loan Amount
Starting From Rs. 50,000 up to Rs. 25 lakhs
Interest Rate |
10.99% - 20.00% |
Loan Tenure |
12 to 60 months |
Processing Fee |
2.50%, Minimum Rs. 1,000 Maximum Rs. 25,000 |
Foreclosure Charges |
Allowed after 12 EMIs, Prepayment charges vary by year: 2nd year - 4%; 3rd year - 3%, after 3 years - 2% |
Age |
21 years up to 60 years |
Key features of Induslnd Bank Business Loan
Induslnd Bank is one of the most trusted banks as it has provided reliable services to its customers from the year of its inception. Induslnd Bank Business Loan is one of the affordable business loan options as the processing charges and interest rates are highly competitive.
Induslnd Bank provides multiple types of business loans and keeps on offering various loan schemes to perfectly match your business requirements at affordable rates. Here are some of the key features of Induslnd Business Loan; take a look and know why it can be the best loan option for you:-
Easy online loan application
You only need a minute to apply for Induslnd Business Loan as you are just required to fill the online loan application form.
Instant loan up to 15lac
Induslnd Bank provides business loan up to 15lac easily without any collateral or guarantor. If you are having any capital expenditure then you can easily meet the same with Induslnd Bank.
Processing charges only up to 2%
You need not make heavy payment on the name of processing fee. The bank charges only up to 2% as a loan processing fee.
Quick approval of loan
The loan is approved in a short span of a few days and the loan amount is made available to you in the next 2 days after approval of the loan.
Repay up to 5 years
The loan can easily be repaid in small EMIs over the span of 5 years. So, you can decide your monthly EMIs considering your future cash inflow.
Foreclosure option available
You can also repay the loan in a go as foreclosure option is also available. If you have surplus funds then you can instantly repay the loan.
Fund disbursed within 2 days
Instant requirement of funds can easily be met by Induslnd Business Loan as the loan amount is disbursed in just 2 days.
Collateral not required
You are not required to provide any collateral for Induslnd Business Loan. In addition, no guarantor is needed for the approval of the loan.
Hassle-free documentation
As no collateral is required for the approval of the loan, therefore minimal documentation is required to get the loan approved. In addition, the documents are submitted and verified online which makes the process paperless.
IndusInd Bank Business Loan Fees & Charges
| Loan Processing Fees | Up to 2.50% of loan amount, Rs 1,000 to 25,000 |
|---|---|
| Pre-payment Charges | 4% of principal outstanding - 13 to 24 months, 3% of principal outstanding – 25 to 36 months 2% of principal outstanding - >36 months |
| Penalty for late EMI payment | 24% per year on outstanding amount From default date |
What are the Eligibility Criteria for Induslnd Business Loan?
If you are planning to apply for Induslnd Business Loan, then your first step should be to check the eligibility criteria. The eligibility criteria to apply for a business loan from Induslnd Bank are listed below:-
If you want to apply for Induslnd Business Loan then you should be 22 years of age at minimum and 65 years maximum.
You should either be a Self-employed Professional, Salaried Individual, Proprietor or a Partnership firm.
If you are self-employed professional, partnership firm or a proprietor then your business should be running for 3 years. However, if you are a salaried individual then you should be employed for minimum 2 years.
Your minimum gross income from salary or business should be 1.5lac per annum.
Documents Required for Induslnd Business Loan
The documentation process is one of the major processes of loan approval. You need to provide the required documents in order to get your loan approved instantly. Here is the list of documents required for the approval of Induslnd Business Loan:-
Proof of Residence of Individual – Aadhaar Card/Telephone Bill/Registry Copy/Electricity Bill/Voter ID Card
ID Proof of Individual – PAN Card/Passport/Voter’s ID Card/Aadhaar Card/Driving License
Statement of Bank – Copy of a Bank Statement for previous 6 months
PAN Card – PAN Card for Individual/Company/Firm
Proof of Business Existence - PAN/Tax Registration/Trade License/Certificate of Practice
Benefits of Applying for Induslnd Business Loan at Rupee Station
Rupee Station is a one-stop solution for all your financial needs as we provide all types of loans easily and instantly. Our aim is to make the entire loan process hassle-free. At Rupee Station, you can easily apply for Induslnd Business Loan just by filling a simple loan application form. In addition, we have collaborated with banks to make exclusive loan offers available to our customers.
At Rupee Station, you can also check your credit score instantly with our credit score checker. In addition, you can also get to know the expected monthly EMIs with our EMI calculator. There are multiple other benefits of applying for the loan at Rupee Station, take a look:-
Apply in a minute
At Rupee Station, you only need a minute to apply for the business loan. Fill our digital loan application form and your task is done.
Instant approval of loan
You can instantly get the loan in a few days as we work closely with the banks to get your application approved.
Funds available within 2 days
Loan amount is disbursed into your account within 2 days only which helps you to fulfill your urgent financial needs.
Assistance of financial experts
At Rupee Station, we have a team of experts with vast experience in the financial domain. These experts review your application and suggest you the best loan option based on the details provided by you.
Know the status of your application
You can also check status just in clicks to know how your loan application is progressing, and how much time it will take for the approval.
Apply for Induslnd Business Loan in Just a Minute
You can easily apply for Induslnd Business Loan in just a few clicks with Rupee Station. With us, you only need to follow a simple three-step process to apply for the loan:-
Step 1
Fill and submit the digital loan application form at our website.
Step 2
Financial expert at Rupee Station will review your application. They will contact you to take the process forward.
Step 3
Once, the bank approves your loan application, you will receive the funds within 2 days.
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