IndusInd Bank Business Loan

Business Loan

IndusInd Bank business loan is the perfect choice for meeting the capital deficit in business. The loan amount can be used for any business purpose like the purchase of new office or extension of the old building. The minimum loan amount credited by the bank is Rs.50,000 and the maximum loan amount is fixed to Rs.15,00,000. The loan is provided for the period ranging from 12 – 60 months. The maximum tenure limit is 5 years. The rate ranges from 14% -23% p.a. The bank charges interest on the basis of the loan amount disbursed, tenure and the nature of business. Pre-payment is not allowed until 6 EMIs are paid and after 6 months the loan can be closed off earlier at the penal rates. The penal rates and other necessary loan details are given below :

IndusInd Bank Business Loan Details

ParticularsDetails
Interest Rates14%p.a – 23%p.a
Minimum AmountRs.50,000
Maximum AmountRs.15,00,000
Loan Repayment Tenure12 months to 60 months
Maximum Loan Tenure5 years
Processing Fee0.5% - 2%
Pre-payment charges- Not permitted till 6 months

- After 6 months 4% of the remaining amount

How to Apply:

To apply for IndusInd Bank business loan visit the nearest bank branch. Fill in the application form and submit the necessary documents. After verification of application and documents, the authorities will inform you regarding the further process.

IndusInd Bank Business Loan EMI Calculator

Is calculation of EMI a hectic task? Use the business loan calculator to make it easy for you. With the help of a calculator you can calculate the installment amount in the fraction of seconds. The calculator reveals the accurate results and makes the comparison of EMI and total repayment on different rate of interest easy. Just enter the loan amount, tenure & interest rate, and the calculator will tell you your EMI. It will also compute the total interest amount and loan maturity amount including interest and principal.

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Let's pick up an example for better understanding. If a person avails the loan of Rs.15,00,000 for the tenure of 5 years than his /her EMI at the current rate of interest will be ranging from Rs. 34,902 – Rs. 42,286. The total repayment amount will vary from Rs. 20,94,143 – Rs. 25,37,142.

Table Showing EMI, Total Interest Outgo and Total Amount

Loan AmountRate Of Interest (p.a.)TenorEMITotal Interest AmountTotal Amount (Principal + Interest)
Rs.15,00,00014% –23%1 yearRs. 1,34,681 -  Rs. 1,41,114Rs. 1,16,168 - Rs. 1,93,374Rs. 16,16,168 - Rs. 16,93,374
Rs.15,00,00014% –23%2 yearsRs. 72,019 - Rs. 78,560Rs. 2,28,464 - Rs. 3,85,439Rs. 17,28,464 - Rs. 18,85,439
Rs.15,00,00014% –23%3 yearsRs. 51,266 - Rs. 58,065Rs. 3,45,592 - Rs. 5,90,325Rs. 18,45,592 - Rs. 20,90,325
Rs.15,00,00014% –23%4 yearsRs. 40,990 - Rs. 48,077Rs. 4,67,506 - Rs. 8,07,706Rs. 19,67,506 -  Rs. 23,07,706
Rs.15,00,00014% –23%5 yearsRs. 34,902 - Rs. 42,286Rs. 5,94,143 - Rs. 10,37,142Rs. 20,94,143 - Rs. 25,37,142

Amortization Table

YearPrincipal PaymentInterest OutgoBalance Amount
1Rs. 222,757 - Rs. 180,697Rs. 196,067 - Rs. 326,735Rs. 1,277,243 - Rs. 1,319,303
2Rs. 256,027 - Rs. 226,931Rs. 162,797 - Rs. 280,501Rs. 1,021,216 - Rs. 1,092,372
3Rs. 294,260 - Rs. 284,995Rs. 124,564 - Rs. 222,437Rs. 726,956 - Rs. 807,377
4Rs. 338,206 - Rs. 357,915Rs. 80,618 - Rs. 149,517Rs. 388,750 - Rs. 449,462
5Rs. 389,153 - Rs. 450,257Rs. 30,109 - Rs. 57,941Rs. 0

Features and Benefits

The benefits of availing a business loan from IndusInd Bank are as follows :

  • Fast Processing
  • Competitive Rate of Interest
  • Easy Documentation
  • Quick Disbursal
  • Reliable service offered
  • Regular and all time customer care service available
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IndusInd Bank Business Loan Eligibility Criteria:

  • Salaried individuals
  • Self-employed individuals/ professionals
  • Sole entrepreneurs
  • Partnership firms

Documents Required:

  • PAN Card 
  • Identity Proof 
  • Address Proof 
  • Passport Size Photographs of all applicants and co-applicants

Financial Documents Required

CategoryList of Documents
Self-Employed Individuals / Sole Proprietorships- Latest audited ITR and financials for the last 2 years. (Balance Sheet, Profit & Loss A/c., Computation of Income along with all schedules.)
- Bank statements from the borrower's main account/s for last 6 months and 3 months of all other bank accounts mentioned in the Balance Sheet
For Self-Employed Professionals- Latest audited ITR and financials for the last 2 years. (Balance Sheet, Profit & Loss A/c., Computation of Income along with all schedules.)
- Bank statements from the borrower's main account/s for last 6 months and 3 months of all other bank accounts mentioned in the Balance Sheet
- Professional Qualification Certificate and Degree Certificate for professionals. (Doctors, Architects, Chartered Accountants etc.)
For Partnership Firms / Private Limited Companies- Latest audited ITR and financials for the last 2 years. (Balance Sheet, Profit & Loss A/c., Computation of Income along with all schedules.)
- Bank statements from the main account/s for last 6 months and 3 months of all other bank accounts mentioned in the Balance Sheet
- Partnership Deed and partnership authority letter for partnership firms
- Memorandum and Articles of Association and Board Resolution from the company
- Certificate of Incorporation (COI) for companies
- Latest shareholding patterns for Private Ltd. / Public Ltd. companies

Factors Affecting Business Loan Eligibility

Following factors impact the loan eligibility of the candidate :

  • Loan Repayment track
  • Credit Performance / Credit Bureau Update
  • Debt servicing ability of the customer
  • Business Vintage
  • Financial Ratios
  • Existing relationship
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IndusInd Bank Business Loan Interest Rate

The rate of interest depends on the amount of deposit and the tenure of the deposit. Nature of business also affects the rate of interest. IndusInd bank offers business loan at the rate of interest ranging from 14%p.a to 23%p.a. To know the rate of interest on your loan contact the concerned authorities.

IndusInd Bank Customer Care Toll-Free Number

The bank cares for its customers hence, allows them to directly talk to the product experts and get the best advice. The bank has set up the customer care cell to address the grievances of the people. The customers can contact the customer care executive on the toll-free number 1860 500 5004 and verify all doubts and queries.