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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

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IndusInd Bank Business Loan
 
  • 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

 


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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



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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.



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IndusInd Bank provides business loans at an interest rate of 14% onwards.