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IndusInd Bank Business Loan Jan 2022

IndusInd Bank Business Loan Interest Rates India

Last Updated 05th Jan 2022

IndusInd Bank offers Business Loan starting at interest rate of 13.00%. The rates vary by loan amount, occupation and type of loan availed. Check Best Offers

Interest Rate 13.00%
Processing Fee 2.50%
Tenure From 12 months to 60 months
Lowest EMI per lakh ₹ 2,275
Loan Amount Min ₹ 50,000 and Max ₹ 15 Lakh
Part Payment Facility Not allowed
Foreclosure Facility Allowed after 12 EMI's, 4%
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IndusInd Bank Business Loan Details

IndusInd Bank offers multiple business loan products for self-employed professionals and non-professionals at low rates. Below-mentioned are the details of the business loan IndusInd Bank.

Key Features of IndusInd Bank Business Loans
  • Purpose of Loan: You can avail IndusInd Bank business loan to expand or modernise your business, purchase assets, set up new units etc.
  • Loan available for self employed professionals and non-professionals.
  • Borrowers within the age group of 25 and 65 years can avail IndusInd Bank business loan.
  • Security: Both Secured & Unsecured
  • Loan Tenure can range from 12 to 60 years.
  • IndusInd Bank business loan interest rates are in the range of 13.00% to 29.00%.
  • IndusInd Bank Bank business loan EMI per lakh starts from ₹ 2,275.
  • Processing Fee: 2.50%
Bank SBI
Interest Rates @11.20%
Lowest EMI Per Lakh ₹ 2,594 for 48 Months
Customer Rating
3.3/5.0
Calculate EMI Apply Now
Bank HDFC Bank
Interest Rates @11.90%
Lowest EMI Per Lakh ₹ 2,628 for 48 Months
Customer Rating
4.5/5.0
Calculate EMI Apply Now

Factors affecting IndusInd Bank Business Loan Rates

There are multiple factors on which IndusInd Bank calculates your interest rate. Some of these factors are -

Loan amount

Business loan rate in IndusInd Bank depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate. Bank gives loan of minimum ₹ 50,000 to upto ₹ 15 Lakh. Interest rate for high loan amounts can be lower resulting in lower EMIs.

CIBIL Score

IndusInd Bank offers business loans at higher interest rate if your CIBIL score is low or vice versa. However, to get a loan from IndusInd Bank, your CIBIL score should be at least 700. Higher the CIBIL Score, higher the chances of getting a loan at lowest business loan interest.

Revenue

IndusInd Bank will offer you a loan at a lower interest rate if you have higher monthly revenue. Bank gives loan to the borrowers whose annual turnover is at least

Time in Business

IndusInd Bank offers loans at lower rates if you have significant business experience. Minimum business existence to get a business loan from IndusInd Bank is 24 months.

Lowest IndusInd Bank Business Loan Interest Rates

With effect from 08 Jun, 2021, IndusInd Bank offers business loans starting at 13.00%. The lowest business loan rates offered by IndusInd Bank have been dropped by 1%, from the earlier rate of 14.00%.

IndusInd Bank Business Loan Rate Trends of Last 1 Year

Last Updated Date Interest Rates
08 Jun, 2021 13.00%
31 Mar, 2021 14.00%
25 Mar, 2021 14.00%

IndusInd Bank Business Loan Eligibility Criteria

To avail IndusInd Bank business loan, you need to fulfill the eligibility criteria as mentioned below:

  • Age : IndusInd Bank offers business loan to those who are at least 25 years old at the time of loan approval and maximum 65 years at the time of loan maturity.
  • Loan Amount : Based on the loan amount eligibility, IndusInd Bank gives you loan amount ranging from ₹ 50,000 to ₹ 15 Lakh. To improve chances of approval, apply for a loan amount that you can comfortably service.
  • Profitability and Revenue : IndusInd Bank requires profit for minimum 2 years and minimum business turnover of ₹ 0.
  • Business Stability : IndusInd Bank requires a minimum business track record of 24 months. The bank will also look for minimum growth in sales for the last three year. A decline in sales for a certain period or below a certain limit might impact your eligibility to get a loan.
  • ITR and Banking : IndusInd Bank gives loan only after checking your income tax return and bank statements. The bank requires you to submit your ITR details and bank statements for a minimum of 24 months & 6 months respectively.
  • CIBIL Score : IndusInd Bank will check your repayment history for all current and past loans and credit cards. The Bank advises you to maintain a score of 750 and above to get loan approval.

IndusInd Bank Business Loan Fees and Charges

In addition to interest rates, business loan also carry some other charges which include:

  • Foreclosure Charges : These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. IndusInd Bank allows prepayment of loan after paying 12 EMI’s with prepayment charges - 4%
  • Processing Fee : IndusInd Bank asks for a processing fee of 2.50% with applicable service tax

Documents Required for IndusInd Bank Business Loan

To apply for IndusInd Bank business loan, you need to submit the following documents:

  • Address proof of individual: Aadhaar Card, Voter’s ID Card, Bank statement, registry copy, rent agreement , utility bills
  • Identity proof of individual: Passport, Driving License, PAN Card, Aadhaar Card, Voter’s ID Card
  • Business existence proof: PAN, sales tax/ excise/ VAT/ service tax registration, copy of partnership deed, trade license, certificate of practice, registration certificate issued by RBI, SEBI
  • Copy of Income Tax PAN for 24 months
  • Bank statement of last 6 months

IndusInd Bank Business Loan Eligibility Calculator

You can calculate your eligibility for IndusInd Bank business loan using an online IndusInd Bank business loan eligibility calculator. It is an online tool that gives you an estimate about your loan eligibility, amount of loan and the best interest rate offer you can avail. It calculates the business loan eligibility on multiple factors. These factors include age, loan amount, loan tenure and Income etc. to calculate the loan amount eligibility of its borrowers.

How to Apply IndusInd Bank Business Loan Online at MyLoanCare?

  • In order to get the best offers on a business loan and compare IndusInd Bank business loans with other banks, you can apply online through MyLoanCare here.  
  • MyLoanCare will give you a detailed comparison of business loan schemes of all banks, calculate your business loan eligibility and connect you to the customer representatives of the  IndusInd Bank.
  • Further, you will also be assisted by a dedicated MyLoanCare loan executive who will ensure that the process of getting a loan is smooth, convenient and quick.

FAQs

✅Why to take business loan from IndusInd Bank?

IndusInd Bank is one of the largest Private Bank sector banks in the country that provides lowest business loans starting at 13.00%. The bank also charges a low processing fee starting from 2.50%. Along with that, the bank also offers special business loan schemes such as , & etc.

✅Has IndusInd Bank reduced the business loan interest rate?

IndusInd Bankhas reduced the lowest interest on business loan as effective from 08 Jun, 2021. Presently, IndusInd Bank offers the business loan starting at 13.00%, which is a decrease of 1% from the previous rates of 13.00%. Earlier, IndusInd Bank changed its gold loan rate on 31 03, 2021.

✅What is the interest charged on IndusInd Bank business loan?

IndusInd Bank offers business loans at attractive rates ranging from 13.00% to 29.00%.The bank also provides various customised offers for self employed professionals to get loan at a very low rate of interest.

✅What is the lowest EMI per lakh on business loan from IndusInd Bank?

If you apply for loan from IndusInd Bank, your lowest EMI per lakh will be ₹ 2,275.You can calculate your EMI on business loan for different tenures at min business rate starting at 13.00% using MyLoanCare business loan EMI calculator.

✅What is the minimum and maximum tenure of business loan in IndusInd Bank?

These loans are shorter tenure loans. You can repay your loan in a flexible period of minimum 12 months to maximum 60 months.

✅How much business loan amount I can borrow from IndusInd Bank?

IndusInd Bank offers you business loan for loan amount ranging from ₹ 50,000 to a maximum amount of ₹ 15 Lakh. Loan amount eligibility in IndusInd Bank further depends upon your income, and repayment capability.

✅What is the processing fee charged by IndusInd Bank on business loan?

IndusInd Bank charges a processing fee 2.50% with applicable tax.The processing can be negotiated if you are an existing customer or have a good track record.

✅Is age an eligibility factor to get loan for business from IndusInd Bank?

Yes, age is an important eligibility factor to get a business loan as you should be at least 25 years old at loan approval time and 65 years old at loan maturity time.

✅What are the prepayment charges on business loan from IndusInd Bank?

Bank charges a prepayment fee in case you want to repay your entire loan amount before the end of tenure period. The fee charged by IndusInd Bank is 4%.

✅What are the business products offered by IndusInd Bank?

IndusInd Bank offers various business products for self-employed professionals and non-professionals. These are listed below:

✅What is the time period of repayment of business loans in IndusInd Bank?

IndusInd Bank provides business loans for a maximum tenure of 60 years. You must repay your loan at the end of this loan tenure to avoid any late payment penalty.

Compare IndusInd Bank with other Banks
OverviewIndusInd Bank HDFC Bank ICICI Bank
Lowest Interest Rate13.00%Details11.90%Details16.50%Details
Maximum Loan Tenure60 months48 months36 months
Business Loan Charges
Processing Fee2.50%₹ 499Starting from 0.99%, Up to 2%
Foreclosure ChargesAllowed after 12 EMI's , 4%Allowed after 12 EMI's , 2 - 4%Allowed after 6 EMI's , 5%
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IndusInd Bank Business Loan Customer Care Toll Free Number
City Customer Care Number
Agra 1860-267-7777
Ahmedabad 1860-267-7777
Ambala 1860-267-7777
Anand 1860-267-7777
Aurangabad Bihar 1860-267-7777
Read more
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IndusInd Bank Business Loan News - Jan 2022
  • 2021-10-05 : IndusInd Bank Advances Grow by 10% Y-O-Y
    IndusInd Bank has posted a growth in advances by 10% on a Y-O-Y basis. Retail Deposits and Deposits from Small Business Customers amounted to Rs 1,11,749 crore as of 30 September 2021 as compared to Rs 1,05,737 crore as of 30 June 2021.
  • 2021-02-26 : IndusInd Bank to grow loan book by 15-18%
    IndusInd Bank is expecting to grow its loan portfolio by 15-18% year-on-year for the next two financial years under its fifth planning cycle.The Bank’s year-on-year growth in advances which include home, personal, LAP, two-wheeler car and gold loan along with business and mudra loan was flat at Rs 2.07 trillion until December 2020. Its deposits which include fixed and recurring deposits, grew by 10% to Rs 2.39 trillion.
  • 2021-01-08 : IndusInd Bank reported 11% growth in Q3 deposits
    IndusInd Bank posted a 3.2% quarter-on-quarter growth in the net advances which include home, personal, car, two-wheeler, gold and education loan along with business and mudra loans in the December quarter. Further, the bank also posted a 5% quarterly growth in deposits which includes fixed and recurring deposits.
  • 2020-07-29 : IndusInd Bank reported a Q1 profit before tax of Rs 602.45 crore
    IndusInd Bank registered a 67.8% fall in Q1FY21 net profit on the back of a five-fold increase in provisions for bad loans. Net interest income backed by a home, personal, gold, car and two-wheeler loans along with business and mudra loans grew by 16.4% year-on-year to Rs 3,309.2 crore in the quarter ended June 2020. Further, the gross bad asset ratio spiked to 2.53 per cent from 2.45 per cent in the March quarter and 2.15 per cent in the June quarter last year.
  • 2020-04-28 : IndusInd Bank reported a Q4 profit of Rs. 301.84 crore
    Private sector lender IndusInd Bank registered a Q4 profit of ₹301.84 crores against ₹360.10 crores a year ago. In addition to this, the bank’s standalone net profit for 2019- 2020 surged by 33.8% backed by retail loans like home and personal loan along with business loan to ₹4,417.91 crores against ₹3,301 crores in 2018-19.
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