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IndusInd Bank is a one stop solution or all banking needs. It is one of the best and most preferred banks for business loans and facilities. This bank offers lowest interest rates to the borrowers. It gives instant quotes on any request – time is always valued at this bank. IndusInd Bank offers online services which are fast, flexible and user- friendly. Privacy and transparency of confidential information go hand-in-hand. IndusInd Bank considers this information as very sensitive and it is handled with utmost care and attention.
IndusInd Bank has over 380 branches in India where businesses & business owners can apply for a business loan.
The bank also allows the prepayment of business loans with a lock-in period of 12 months with a prepayment charge of 4%.
Without any doubt everyone appreciates the various business finance options offered by IndusInd Bank. Some are few among the big list mentioned in details to assist you with any decision making.
The finance that is used for day-to-day working on the business is known as working capital. Getting this amount from banks and financial institutions will help in the running of the business without any discontinuity. The various types of working capital finances are trade credit, cash credit/ bank overdraft, working capital loans, discount of bills or purchase, letter of credit, bank guarantee and factoring.
Features & Benefits
It is about lending working capital for the business especially for any oversea transactions. The cost involved, procedure and formalities for oversea transactions are totally different from domestic transactions. The fund availed for the same is called export finance.
Features & Benefits
Through term loan you can get customized products to meet business requirements. This service is offered by IndusInd bank in all its branches. The main benefits are low-cost credit and cash-flow financing.
Features & Benefits
Every exporter wants the product’s importer to pay for the goods. Through documentation there is reduction the risk of non-payment. This document is called as Letter of Credit which is used by exporter to export the goods with the surety that he will receive the payment.
Features & Benefits
This type of loans does not require security or collateral, therefore the risk of defaulting is high. The lender will have to seek legal assistance to get back the money the borrower defaults thus the rate of interest charged on these type of loans are very high.
Features & Benefits
The IndusInd Bank Business Loans offer many features and benefits, such as the following.
Out of all the banks that are out there why should you choose IndusInd Bank is the question that is haunting many minds! The answer for it is pretty simple, the features and benefits of this bank are the key reasons. Some of the highlighting features are:
Applying for a business loan with IndusInd Bank is very easy especially with the help of Finance Buddha. Finance Buddha offers the platform every customer who is in need of that extra information before applying for all. There is answer for every question out there and if you have doubt beyond what is already there, you can make use of the FAQ tab to find answers to your questions.
For applying a loan the below details are required by Finance Buddha:
As soon as we receive the complete set of the above required information, we will get back to you to for confirmation. Once confirmed, we will assign a dedicated sales executive to you who will assist you with all the required documentation and the rest of the application process. Just in case, if a better offer exists for you from another lender, our executive will also inform you that as well, so that you always get the best possible business loan offer.
Eligibility Criteria |
Salaried |
Self Employed |
Net Monthly Income |
INR 25000/- & above(Listed Companies), INR 40,000/- & above(Non- Listed Companies) |
Min. Annual Net Income post tax should be INR 480,000. |
Age of Applicant |
Min. 21 years Max. 60 Years / retirement age whichever is lower at the time of loan maturity |
Min. 25 years Max. 65 Years at the time of loan maturity |
Current Experience |
Min. 1 yr & above |
Min. 5yrs of Post qualification |
Total Job Experience |
Min. 2Yr & above |
Min. 5yrs of Post qualification |
Min. Loan Amount |
INR 100,000 |
INR 100,000 |
Max. Loan Amount |
INR 1.5 million (Listed Companies) 7Lakhs (Non- Listed Companies) |
INR 1 million & above |
Min. Tenure |
12 Months |
12 Months |
Max. Tenure |
60 months(Listed Companies), 48 months (Non- Listed Companies) |
48 months |
Processing Fee |
0.5%- 2% |
0.5%- 2% |
Prepayment Charges |
4% post 12 EMI clearance |
4% post 6 EMI clearance |
Turn Around Time |
3-4 working Days |
3-4 working days |
Overview of Interest Rates, Fees & Charges |
|
Interest Rate |
14.00% - 23.00% |
Tenure |
From 12 months to 60 months |
Loan Amount |
Min INR 50,000 and Max INR 1,500,000 |
Part Prepayment, Charges |
Not allowed |
Early Foreclosure, Charges |
Allowed after 12 EMI's, prepayment charges may apply |
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