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Quick Business Loan Overview

With our Quick Business Loans, get quick and easy access to finance and fulfill short and medium term fund requirements of your business.

Become a smart business owner and access pre-qualified business loan in just a few clicks with digital loan application and quick disbursal.

Apply for a Quick Business Loan in 5 simple steps

Avail IndusInd Bank’s quick and easy collateral-free business loans using a phone or a laptop with stable internet connection & basic documentation.
Documents Required For Personal Loan - IndusInd Bank
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Personal Loan Kyc Documents - IndusInd Bank
Apply Instant Personal Loan Online - IndusInd Bank
  • Documents Required For Personal Loan - IndusInd Bank

    Enter Personal and Business Details (10 mins)

  • Quick Personal Loan Online - IndusInd Bank

    Check Your Eligibility(5 mins)

  • Personal Loan Kyc Documents - InduInd Bank

    Complete Your Video KYC and verification process (15 mins to 48-hours)

  • Get Personal Loan - IndusInd Bank

    Get the Loan Sanctioned to Grow Your Business (Instant)

Quick Business Loans Features and Benefits

Easy Documentation for Personal Loan - IndusInd Bank

Lightning-fast disbursal 

Average disbursal time = 2 days Fastest loan disbursal ever = under 10 minutes 

Apply for flexible Personal Loan Tenure - IndusInd Bank

No Need to Open a Bank Account

Skip the hassle of opening a new current account

Personal Loan Features - IndusInd bank

100% Digital Process

Zero documentation and branch visits

Affordable interest rates 

Starting from 15.99% Per Annum 

No collateral is needed

Accelerate business growth with unsecured funding

Eligibility Criteria for Quick Business Loan

Go through the financial and non-financial eligibility criteria explained below to make your loan application process easy:

Non-Financial Eligibility Criteria Financial Eligibility Criteria
25-67 years old  For > Rs. 10L, GST Turnover > 2cr** 
Established for a minimum of 2 years  Business profitable for 2+ years 
CIBIL score should be 680 or higher  No LIVE Overdraft facility    
Office set up with name board  6 months bank statement*** 
On-time GST3RB and GSTR1 filings     
Active and regular GST for more than Rs. 5 Lacs*   

* All new to the bank, sole proprietary customers, require an active and regular GST, irrespective of the amount
**Calculated for last 4 quarter
***For New-to-bank and Non Pre-qualified Customers

Documents (Digitally fetched) Required for a Quick Business Loan

Completing the business loan applications carefully is crucial for entrepreneurs to increase their chances of approval. So, what are the documents required for a business loan?

Here’s the list of documents required for a business loan application for different types of businesses: 

Type of Loan Documents  Sole Proprietors  Individual Business Owners
Current Account Bank Statement for the Last 6 Months The entity name on the bank statement should match the name on the business proof submitted. The business owner's name on the bank statement should match the name on the business proof submitted.
Business Proof Documents

1. GST Form
2.1. If the GST Form is >= 24 months old, either an Udyam Registration Certificate (URC) or any 1 of the following documents needs to be submitted:

  • FSSAI
  • Shop Act License
  • Medical Council of India
  • ICAI – Certificate of Practice
  • ICSI – Certificate of Practice
  • Import Export License

2.2: If the GST Form is less than 24 months old, then URC is mandatory

1. Udyam Registration Certificate (URC)
2.1. If the Udyam Registration Certificate is less than 24 months old, any one of the following documents needs to be submitted:

  • FSSAI
  • Shop Act License
  • Medical Council of India
  • ICAI – Certificate of Practice
  • ICSI – Certificate of Practice
  • Import Export License

Note: The issued date of the document chosen from this list should be >= to 24 months.

KYC Document
  • Aadhaar Card
  • PAN Card
  • Aadhaar Card
  • PAN Card

Quick Business Loan Fees & Charges

 

Parameter Description
ROI  Starts at 15.99% P.A 
Processing Fees  2%
Documentation Charges 

₹1,000 for loan amount < ₹10 Lakh 

₹1,500 for loan amount >= ₹10 Lakh 

Stamp Duty Charges  Varies from state to state 
Foreclosure Charges 

0 - 12 months - 5.5% of Outstanding Amount

12 - 24 months - 5% of Outstanding Amount

24 - 36 months - 3.5% of Outstanding Amount

Quick Business Loan FAQs

  • What are the different types of collateral-free business loans?

    IndusInd Bank offers Quick Business Loans to its customers which are instantly disbursed in the existing current account of the customers.

  • How long does it take to process a business loan application?

    IndusInd Bank is committed to taking the least time to handle loan applications. The precise duration depends on several variables, like the type of loan applied for and the detailing furnished in the application. However, the process looks like this:

    • Step 1: You have to enter your basic details, which takes approximately 6 minutes
    • Step 2: Next, you need to check whether you are eligible for a business loan
    • Step 3: Once you pass the eligibility criteria, you need to complete your Video KYC, which takes approximately 5 minutes
    • Step 4: Once your Video KYC is complete, you quickly receive funds in the current account of your choice. Usually, this step may take anywhere from 10 minutes to 2 days to complete.
  • What is the minimum and maximum business loan amount I can get?

    IndusInd Bank’s Business Loans start from ₹2 lakhs and reach up to ₹20 lakhs.

  • Can I change the business loan tenure after the eligibility is calculated?

    No, tenure is a factor using which eligibility is computed. The longer the tenure, the better the chances of getting a higher eligibility. 

  •  Can I upload screenshots of bank statements instead of PDF? 

    No, only PDF files of bank statements are allowed. You can download the same easily via the net banking portal or the mobile app of your primary bank. 

  • Can I foreclose my loan? If yes, how do I go about it and what are the foreclosure charges? 

    Yes, you can foreclose your business loan by sending us your request at our email address - reachus@indusind.com Don’t forget to mention your Loan Account Number. 

    The foreclosure charges levied are as follows: 

    Duration Foreclosure Charges (% of the outstanding amount)
    0-12 months 5.5%
    12-24 months 5%
    24-36 months 3.5%
  • What are the charges/fees involved? 

    Fees/charges
    Rate of Interest

    15.99% to 22.99%

    Processing Fees

    2% of disbursed loan amount

    Documentation Charges

    â‚ą1,000 for < â‚ą10Lacs and â‚ą1,500 for >= â‚ą10Lacs

    Stamp Duty Varies from state to state
  • When will my EMI get deducted and what is pre-EMI? 

    EMI is deducted on the 4th of every month. It is recommended to maintain enough balance in your current account to avoid missing EMIs.  

Pre-EMI: Loans disbursed between 22nd day of any month till 4th of the next month, will be subject to pre-EMI. The next EMI will be due in the following month. This pre-EMI is not an additional charge and goes towards payment made for Principal and Interest outstanding.  

Example: Mr. A takes a loan on 23rd May 2024. He will be charged pre-EMI for 23rd May to 4th June. The first full EMI will be deducted only on 4th July 2024.  

  • What happens if I don’t maintain enough balance on EMI deduction date? 

If you do not maintain enough balance in your current account on EMI deduction day, which is 4th of every month, then it will be considered as a delayed payment. It will also negatively affect your CIBIL history and score.

  • What is the minimum and maximum amount permitted under unsecured loan program?

Range

Amount

Minimum

â‚ą2,00,000

Maximum

â‚ą20,00,000

 

 
  • How much time does the credit of the loan amount take post approval? 

You can get the amount credited instantly, post approval. All you have to do is resume the online application journey and sign the agreement with loan terms.

  • What is the age limit to apply for the loan?
Range Age
Minimum 25 years 
Maximum 67 years 

  • Do I need to put something as a collateral to avail a business loan from IndusInd Bank?

This is a 100% collateral-free loan program by IndusInd Bank. There is no need to submit any collateral.

  •  What is the minimum CIBIL score required to be eligible for this business loan?

A minimum CIBIL score of 680 is required to avail the loan.  

  • My business is currently making losses. Will I still be eligible for the loan? 

No, it is mandatory for the business to be profitable in the last 2 years. 

  •  What is Business Vintage and what is the minimum requirement for the same? 

Business Vintage refers to the time since the business is being run. For instance, your business was established in January 2020. By January 2024, the business vintage would be 48 months or 4 years.Â