Business loans are a comfort blanket for entrepreneurs who would like to meet the growing demands of the business. Some look for a business loan to fulfill their needs towards business expansion, while some maybe first time businessmen who are trying to make the best by an extra capital in hand.
IndusInd Bank is one of the few banks in India that lends a helping hand to budding entrepreneurs by offering a variety of business loans. Based in Mumbai, IndusInd Bank was established in 1994 and offers banking and financial services to its growing customer base.
IndusInd Bank is one of the first new-generation of private banks in India that has introduced a lot of new concepts in Indian banking. The banks revolutionary use of technology to make online banking up to date and user friendly is highly appreciated. Operating around India with around 800 branches and 1500 ATMs, the bank’s presence is growing and is also aiming to meet the global benchmark.
Overview Of IndusInd Bank Business Loan
IndusInd Bank offers business loans that are customized as per a customer’s needs and requirements. Whether your business loan requirement is for a long term or a short term need, IndusInd Bank tries to meet all the requirements. With the bank’s superior customer service and use of cutting-edge technology, it is one of the most preferred banks in India for a business loan.
Why Pick IndusInd Bank Business Loan?
IndusInd Bank Business Loans are a preferred choice for entrepreneurs because of the following reasons:
- IndusInd Bank offers a variety of loan types that are tailored to meet each business requirements, such as working capital finance, export finance, term loan, trade loan and unsecured business loans.
- IndusInd Bank offers faster processing of loan to ensure that your business gets the support you need in a timely manner.
- IndusInd Bank does not require any collateral for unsecured business loans and the loan is given based on review of business documents.
- IndusInd Bank offers easy repayment options that are available for entrepreneurs such as low EMIs every month.
Features of IndusInd Bank Business Loan
IndusInd Bank business loan has the following offerings:
- Working Capital Finance – IndusInd bank business loans allows you to have a running account facility for a short period of time on a recurring basis. Not only that it is offered at a reduced rate of interest and the business operator receives the account flexibility to operate the finances as needed. This feature finances the inventory and receivable of the business.
- Financial assistance for Export Businesses – IndusInd Bank offers monetary help to exporters that can be given on pre and post shipment dealings. IndusInd Bank also helps in funding of foreign currency thereby reducing total cost.
- Term Loan–IndusInd Bank also offers a long-term finance option that entrepreneurs need for the expansion of business. Term Loan can either be available in Indian or foreign currency and requires collateral. You can also do a balance transfer for an existing loan at a very nominal rate of interest.
- Trade – IndusInd Bank helps businesses with its dynamic trade offerings such as a credit letter for import and export of goods. It also offers financial and operations bank guarantees.
- Unsecured Business Loans–IndusInd Bank also offers unsecured business loans with their trade offerings. It does not require any collateral and the loan is given after careful consideration of the business financials. The processing of loan is also quick and the repayment is based on easy EMIs.
Benefits of Applying IndusInd Bank Business Loan on Letzbank
At Letzbank, you are able to make comparison on the different loans that are available by top banks. We list the features and important factors for each bank that helps you in making a fair comparison and make a decisive choice. Not only that you also get access to our Instant Quotes service, offered free of charge. Instant Quotes helps you to know the desired bank quotation in a matter of minutes. What’s more, you can also apply for a loan directly from our website to grab the best offer. Our online application form is simple to use and all of our services are free. IndusInd Bank Business Loans can easily be applied online at Letzbank with attractive benefits such as the service fee waiver that is applicable when you apply for this loan online.
At Letzbank website, we also provide other helpful services such as the ability to obtain instant access to your Credit Score information via Experian Credit Information Company of India Private Limited. We also offer the service of electronic filing of your Income Tax Returns, free of charge. Under the Services tab, look for the option that says “EFile-IT Returns”. Letzbank has partnered with clear Tax, a technology company specialising in taxes, that lets Letzbank customers file their income tax returns online for free!
Letzbank also offers a Quick Apply feature, which is especially helpful when you need to expedite your loan application process. Simply click on Quick Apply mentioned at the top-right corner of our website and select your loan category, enter your name, email address, mobile number and click on Apply. Once you click on apply, we will receive your request and a representative will call you to help you with your loan instantly.
IndusInd Bank Business Loan Eligibility
The eligibility is determined by the bank, which is disclosed at the time of application.
IndusInd Bank Business Loan Documentation Process
Apart from the basic KRAs, the documents required vary from case to case and is determined by the bank, which is disclosed at the time of application.
IndusInd Bank Business Loan Interest Rates
The interest rates for IndusInd Bank business loan depend upon a variety of factors such as the business profitability, tenure, etc. and is determined individually at the time of application.