Looking for a Business Loan from IndusInd Bank?

This page contains all the information you need to make a sensible and sound decision.

Corporate Business Loans from IndusInd Bank

Labelled as the new-generation banks in India, IndusInd Bank offers a wide array of finance products to different segments of its customer base to meet their needs. The bank offers various business loans to its corporate customers.

Four of these business loans from IndusInd Bank are:

  1. Working Capital Loan
  2. Term Loan
  3. Export Finance
  4. Unsecured Business Loan

We give you a brief intro to these business loans below.

IndusInd Bank Working Capital Loan

The IndusInd Bank Working Capital Loan helps businesses finance their everyday operations. This a perfect loan scheme for businesses for investment in current assets, purchase inventory, salary payments, power charges, etc.

Features of IndusInd Bank Working Capital Business Loan

Why this Loan?

  • This business loan can be taken for managing day-to-day operations related to running the business
  • The security needed for this loan is decided based on the risk perception after checking the borrowers’ profile and other lending norms of the bank

IndusInd Bank Term Loan for Business

This loan helps businesses get financial assistance to meet their needs for growth and expansion of business. This is a need-based loan which means that the quantum of loan and other related details are decided by the bank on a case-to-case basis.

Features of IndusInd Bank Term Loan

Why this Loan?

  • Borrowers can avail the IndusInd Bank Term Loan to set a new industrial unit, expand or modernise a unit, purchase long-term assets for a business, etc.
  • The repayment schedule is set based on a range of factors such as Cash Generation and Repayment capacity of the borrower, Debt Service Coverage Ratio, etc.
  • This is a secured loan

IndusInd Bank Export Finance

This loan helps businesses pay for pre-shipment, post-shipment, and other activities right from sourcing, manufacturing or converting semi-finished into finished goods and services to importing raw materials and capital goods. The bank also offers Foreign Bank Guarantee and Foreign Letters of Credit to help businesses dealing in export run their operations smoothly.

Features of IndusInd Bank Export Finance

Why this Loan?

  • The IndusInd Bank Export Finance is meant for you if you need to raise funds for meeting your exports and imports obligations. Please get in touch with the bank to get a list of all activities eligible for this loan
  • The repayment period for each loan is set on a case-to-case basis depending on factors such as the nature of project, quantum of loan, repayment capacity of the borrower, etc.

IndusInd Bank Unsecured Business Loan

This loan helps businesses get financial assistance to meet their needs for growth and expansion of business without any collateral or third-party guarantee to secure the loan.

Features of IndusInd Unsecured Business Loan

Why this Loan?

  • The IndusInd Bank Unsecured Business Loan schemes are perfect for businesses that need funds for business growth and expansion-related activities
  • The loan must be repaid in Equated Monthly Instalments (EMIs)

Important Note: Even though the bank’s website has information available for a few business loan schemes at this time, there is a possibility that the bank may offer more corporate loan options which are not yet published on the website. We suggest that you get in touch with the nearest branch to check the loan schemes they offer. This will also help you get a custom quote since many loan schemes are need-based and certain charges such as application charges, service charges, etc. may be decided on a case-to-case basis.

Interest Rate for IndusInd Bank Business Loans

  • The interest rate for the IndusInd Bank business loans depends on various factors such as quantum of loan, type of business, risk rating, nature of project, repayment period, the structure of debt, etc. The applicable interest rate for each loan is not mentioned on the bank’s website as of April 2020. Please get in touch with a bank representative for details

Eligibility for IndusInd Bank Business Loans

  • Individuals, Proprietors, Partnership Firms, Private Limited and Public Limited Companies can apply for these loans

Documents Needed for Individuals

  • Loan Application Form duly filled and signed by the applicant and co-applicant, if any
  • Two Passport Size Photographs of applicant and co-applicant
  • Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card/ PAN Card Issue Letter is must
  • Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
  • Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
  • Income/Banking Proof: Last 6 months Bank Account Statement of applicant and co-applicant, Loan Statement of Running Loans, Latest Closed Loan NOC, Net Worth of the applicant and co-applicant
  • Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
  • For term loans: Project report with details on product choice, market survey, projection of production and sales, infrastructural needs, etc.; projected cash and fund flow statement for the repayment period; and copies of all licenses and permits wherever applicable

Documents Needed for Proprietorship and Partnership Firms

  • Loan Application Form duly filled and signed
  • Partnership Deed and Partnership Registration Certificate
  • ID Proof of the Firm: Firm PAN Card or PAN Issuing Letter
  • Office Address Proof: Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
  • Income Proof: CMA Data and Project Report, Debtors and Creditors Certificate, GST Return, Last 3 years ITR of applicant and co-applicant, Audited or CA Certified Computation of Income/Trading Account/Profit and Loss Account/Balance Sheet, Annual Audit Report and Tax Audit Report if audited, Form 16A if applicable, Net Worth of applicants, co-applicants and guarantors
  • Banking Proof: Last 1-year Statement of Company’s Major Account, Current Account, Cash Credit Account, Overdraft Account, Loan Statement of Running Loans, Latest Closed Loan NOC and Last 6-months Bank Statement of Applicant and Co-applicant’s Savings Account
  • Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
  • Other Relevant Documents: Partnership’s Business Profile, Promoter/Guarantor’s Profile, Corporate Brochure, Business Experience Supporting Documents, Business References
  • For Term Loans Only: Project report with details on product choice, market survey, projection of production and sales, infrastructural needs, etc.; projected cash and fund flow statement for the repayment period; and copies of all licenses and permits wherever applicable

Documents Needed for Private Limited and Public Limited Companies

  • Application Form duly filled and signed
  • Company ID Proof: Company’s PAN Card
  • Office Address Proof: Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
  • Business Proof: AOA and MOA, Company Incorporation Certificate, Business Commencement Certificate, Board Resolution, CA/CS verified Share Holding Pattern, ROC Annual Return, DIN Certificate, List of Directors on Company Letter Head, GST Number, Form 32 in case of Director Change
  • Income Proof: CMA Data and Project Report, Last 3 Years ITR Acknowledgement copy of Company and all Directors, Last 3 Years Annual Credit Report or Tax Audit Report with Article 3CB, Article 2D, Article 3CD, TDS Certificate/Form 16A, Net Worth Certificate
  • Banking Proof: Last 1-year Statement of Company’s Major Account, Current Account, Cash Credit Account, Overdraft Account, Loan Statement of Running Loans, Latest Closed Loan NOC and Last 6-months Bank Statement of Applicant and Co-applicant’s Savings Account
  • Security: Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
  • Other Relevant Documents: Company’s Business Profile, Promoter/Guarantor’s Profile, Corporate Brochure, Business Experience Supporting Documents, Business References
  • For term loans only: Project report with details on product choice, market survey, projection of production and sales, infrastructural needs, etc.; projected cash and fund flow statement for the repayment period; and copies of all licenses and permits wherever applicable

Reference Facts:

  • IndusInd Bank Website: www.indusind.com
  • Headquarters: Pune, Maharashtra
  • Call Centre Toll-Free Number: 1860 500 5004