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Small Ticket Business Loan

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Status: Active

Classification: Private Sector Scheme

Release Date(s):
21st May 2024

Offering: Loan/Credit

Entity Type: Private Sector Bank

Reading Time: 4 Mins

Ticket Size: ₹2 Lakhs to ₹20 Lakhs

Entity Name: IndusInd Bank

#Views: 8

Disclaimer….before you read ahead!

The information contained herein is of a general nature and for information purposes only, with the intent of raising awareness around various resources, schemes etc. available for women entrepreneurs in India. It is not intended to address the circumstances of any particular individual or entity. It does not purport to be all-inclusive or necessarily contain all the information that may be relevant for the reader, and may be subject to updating, revision or amendment. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to remain accurate in the future. The reader, therefore, is required to exercise their discretion; and not act on such information without appropriate professional advice after a thorough examination of the particular situation.

Furthermore, we are not a lender and are not authorized by the Reserve Bank of India to act as one. By disseminating the information contained herein, we are not soliciting any borrower or customers for the company or organization mentioned herein nor do we intend to syndicate any capital for the reader of this article.

 

About this scheme…

 

How is it being implemented?

  • Under this Scheme, direct financial assistance in the form of loans is given exclusively to,
    • Women entrepreneurs engaged in manufacturing, services, retail or wholesale trade

 

What’s on offer?

I. Product

  • Term loan
  • Ticket Size: ₹2 Lakhs to ₹20 Lakhs

 

II. Purpose:

  • Acquisition of fixed assets
  • Working capital requirements

 

III. Borrower Type:

  • Individuals, Sole Proprietorship

 

IV. Security or Collateral or Guarantee or Insurance

  • Security: Nil
  • Collateral: Nil
  • Guarantee: Nil
  • Insurance: For more information around this, please contact the Bank via means mentioned below

 

V. Interest Rate

  • 16% per annum onwards

 

VI. Processing Fee

  • 2% + GST
  • Additionally, Stamp duty (as applicable), Documentation Charges (depending on the loan amount), GST and other applicable government taxes, levies will be payable

 

VII. Margin Money Requirement

  • For more information around this, please contact the Bank via means mentioned below

 

VIII. Tenure, Repayments & Pre-Closures

  • Tenure: 12 to 36 months
  • Repayments: EMIs
  • Pre-payment & Foreclosure Charges: Pre-payment of the full amount allowed only after completion of 12 months. No part-prepayment is allowed. For information on charges, please refer here

 

IX. Turnaround Time

  • In case all the details are correct and verified in real-time, an in-principle sanction shall happen instantly, and disbursal of funds to your bank account shall happen within 2-3 business days

 

Interested? Read ahead to check your eligibility….

I. Are you a pre-qualified existing customer of the Bank?

 

II. Will you be at least 25 years of age at the time of filing the application under this Scheme?

 

III. Will you be within 70 years of age at the time of loan maturity?

 

IV. Have you been in the same line of business for at least 2 years?

 

V. If the requirement of loan is above ₹5 Lakhs, is your business registered with GST?

 

If your answers to the questions above are an emphatic YES, you are all set to avail loan under mall Ticket
Business Loan by IndusInd Bank!

 

So…how big is this scheme and what has been done so far?

I. Details of progress under this Scheme do not seem to be available in the public domain

 

So, now, how should you go about it?

I. For submitting application,

 

OR

 

II. For information on documentation requirements, please refer here

 

III. For any queries, please contact IndusInd Bank via:

 

OR

  • Call on toll free number 1860 267 7777 anytime 24X7

 

OR

 

Go on then…and do spread the word!

 

Sources:

1. About IndusInd Bank’s Small Ticket Business Loan
2. FAQ’s IndusInd Bank’s Small Ticket Business Loan
3. IndusInd Bank Q4 2023-24 Investor Presentation
4. IndusInd Bank Annual Report 2022-23

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