IndusInd Bank Business Loan [Interest Rate, Processing Fees, Tenure, Prepayment Charges 2022]



IndusInd Bank Business Loan

About IndusInd Bank : The IndusInd bank is one of the leading new generation private banks of India, which was inaugurated in 1994 by the former union finance minister Manmohan Singh. With a multichannel delivery capability, the bank specializes in catering to the needs of both the consumer and corporate customers. 

The bank's name was inspired by the Indus valley civilization that embodies the combination of innovations that includes trade and business. It is regarded as the only Indian bank which got listed in the S&P DJSI Sustainability yearbook. It is also known for becoming the first Indian bank to get the ISO 9001:2000 certification for all its corporate offices and branches.

Headquarter: The IndusInd bank was established with Mumbai as its headquarter. It also has representative offices located in the UAE and London. The bank has a subsidiary called the BFIL (Bharat Financial Inclusion), which is a finance company licensed by the Reserve bank of India. It merged with IndusInd after functioning on its own. The bank is owned by the Hinduja group and Life insurance corporation (LIC).

Number of employees: IndusInd bank has currently employed 30,674 employees working across the branches in the network. Sumath Kathpalia is the chief executive officer and the managing director of the bank. Arun Tiwari is the chairman of the bank.

Number of Branches & ATM: As of 2022, IndusInd operates across a network comprising 2015 branches and 2866 ATMs operating at 760 locations across the country. The subsidiary of the bank, BFIL, has its headquarters in Hyderabad, India. It has 2150 branches spread across India. IndusInd bank serves over 2.5 crore customers at 5000 distribution points in the country.

Rate of Interest : 14-23% Per Annum

Loan Amount : Up to Rs.15 lakh

Maximum Tenure : 60 Months

Processing Fee : 0.5-2% of loan amount + GST

Prepayment Charges : 4% of the outstanding Amount after 6 months

Minimum Monthly Salary / Yearly Business Income : As Per Loan amount Requirements

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