IDBI Bank Business Loan

Business Loan

IDBI bank answers to all your business need by providing the business loans for the maximum amount of up to Rs. 35 lakhs. The candidates can take a loan for the expansion of the running business entity or to meet the working capital requirements. The loan is available for the maximum tenure of 4 years. The eligible candidates can apply for the loan online or by visiting the nearest branch.

IDBI Business Loan Details

ParticularsDetails
Interest Rates13% p.a. -14% p.a.
Loan AmountUp to 35,00,000
Tenure4 years

How To Apply

The application process is simple and quick. You can apply for the IDBI Bank business loan through any of the following channels :

  • Visit the nearest bank branch
  • Apply online by clicking on the quick link available on the bank's official website

IDBI Business Loan EMI Calculator

Avoid tiring process of EMI calculation by using the EMI calculator that is designed to help the customers. It makes the calculation effortless and speedy. The result is computed in a very less time. You just put the required values in the calculator ( loan amount, tenure and rate of interest) to know your EMI.

For instance, if I avail the loan of Rs. 35,00,000 for the tenure of 4 years at the prevailing rate of interest which is 13% p.a – 14% p.a then your EMI will be

Must Read  Au Financiers Business Loan

Table Showing EMI, Total Interest Amount, Total Repayment Amount

Loan AmountLoan TenureInterest RateEMITotal Interest OutgoTotal Amount (EMI+Interest)
Rs. 35,00,0001 year13% p.a – 14% p.aRs. 3,12,610 - Rs. 3,14,255Rs. 2,51,326 - Rs. 2,71,059Rs. 37,51,326 - Rs. 37,71,059
Rs. 35,00,0002 years13% p.a – 14% p.aRs. 1,66,396 - Rs. 1,68,045Rs. 4,93,513 - Rs. 5,33,082Rs. 39,93,513 - Rs. 40,33,082
Rs. 35,00,0003 years13% p.a – 14% p.aRs. 1,17,929 - Rs. 1,19,622Rs. 7,45,438 - Rs. 8,06,381Rs. 42,45,438 - Rs. 43,06,381
Rs. 35,00,0004 years13% p.a – 14% p.aRs. 93,896 - Rs. 95,643Rs. 10,07,019 - Rs. 10,90,848Rs. 45,07,019 - Rs. 45,90,848

Amortization Table

YearPrincipal PaymentInterest OutgoBalance Amount
1Rs. 701,606 - Rs. 713,259Rs. 413,493- Rs. 446,110Rs. 2,786,741- Rs. 2,798,394
2Rs. 806,385 - Rs. 811,710Rs. 315,042- Rs. 341,331Rs. 1,975,031- Rs. 1,992,009
3Rs. 923,755- Rs. 926,811Rs. 202,997- Rs. 220,905Rs. 1,051,276- Rs. 1,065,198
4Rs. 1,052,282- Rs. 1,066,301Rs. 75,489- Rs. 82,493Rs. 0

Features And Benefits

  • Loans provided at attractive rate of interest
  • Quick disbursal
  • Hassle free process
  • Loan available up to Rs. 35,00,00

IDBI Business Loan Eligibility Criteria

The candidates with business registration under following categories are eligible to apply for the business loan-

  • Proprietorship Firm
  • Partnership
  • Limited Liability Partnership
  • Pvt Ltd. Companies

The applicant must be of age between 21 years to 65 years . The business vintage of minimum 3 years is essential along with annual turnover ranging from Rs. 30 lakhs to 10 crores .

IDBI Business Loan Application Form

You can fill an online application form or download the application form the bank's official website. You can avail the loan application form from the IDBI Bank branch as well.

Must Read  Punjab & Sind Bank Business Loan

Documentation Required :

  • Application form with passport sized photograph
  • KYC documents
  • PAN Card/ Form 60 For All Applicant/Co- applicant/Guarantor
  • Last 2 years Income Tax Return document
  • Bank statements for the last 6 months
  • 2-year financials including Profit & Loss (P&L) statement and balance sheet
  • Documents related to establishment of entity, identity and address proof documents

IDBI Bank Business Loan Status

You can track the loan status online. Tracking will help you know the current position of your application. You can even contact the customer care services to know the loan status.