IndusInd Bank Business Loan
Secure your financial and business needs with IndusInd Bank with an interest rate of 14% onwards.
Loan Details
Interest Rate
14% onwards.
Processing Fee
Up to 2.50%.
Prepayment
Charges
Up to 5.5% depending upon scheme and tenure completed
Tenure
From 12 months to 60
months.
- Eligibility Factors
- Documents Required
- Loan Verification Process
- Rate of Interest
- Age: 25 to 65 years
- Credit score: 750 and above
- Employment: Salaried or self-employed
- Income: not mentioned
- Work-experience: business existence - 24 months, salaried - 3 years
All the applicants are required to submit the below-listed documents with IndusInd Bank -
- Filled up IndusInd Bank business loan application form
- Recent Photographs
- ITR of previous 2 years
- Proof of Identity Proof
- Proof of Residency
- Proof of Signature Authenticity
Self-employed candidates are required to submit the documents listed below along with the ones mentioned above –
- Proof of business establishment
- Address proof of Business
- Income Tax Returns
- Proof of Business continuity of the past 3 years
- Copy of bank statement of the past 180 days
- Proof of earnings of the last 6 months
Salaried applicants are required to submit a copy of the following documents besides along with the ones mentioned above -
- Last 6 months of the bank statement showing your income or the salary details
- Copy of the salary slip of past 180 days
- Copy of all relevant documents showing the ownership of property that is to be mortgaged
- Previous 2 years Form 16
- Employer’s ID
- Proof of work experience
Identity Proof (for all borrowers)
- Driving License
- Aadhar Card
- Valid Passport
- PAN Card
- Voter ID
Proof of Residential Address (for all borrowers)
- Utility Bill
- Receipt of Property Tax
- Approved Building Plan
- Valid Passport
- Voter ID
- Registered Rent Agreement
Birth Date Proof (for all borrowers)
- Driving License
- Valid Passport
- Voter ID
- Aadhar Card
Property documents (for all borrowers)
- Registered Sale Deed
- Lease Deed
- Conveyance
- Past Sale Deeds
- Receipt of House Tax Return
- Building Plan approved by the Municipal Corporation
Income documents (for salaried borrowers)
- Last 6 months Pay Slip.
- Form 16 of the past 2 years
- Bank statement of the past 6 months showcasing the EMI debit/ salary credit
The loan verification process involves:
- Complete the application form and upload it on the official website. Submit copies of all the documents needed for the application verification. It can be done by signing up on Apnapaisa.com.
- Our representative will get back to you within 1 day and schedule the visits for collecting the document copies.
- The officials will verify the documents. They may visit the property if necessary.
- Lastly, your application is approved, then the loan amount will be forwarded to your account, and you will get a copy containing all the details of the loan interest and others.
IndusInd Bank provides business loans at an interest rate of 14% onwards.