IND GST Advantage
A fully digital working capital loan from Indian Bank for existing customers who are GST registered, with the limit worked out from GST sales.
Last updated on
- Status
- Open
- Run by
- Indian Bank
What you get
- Cash credit limit from ₹5 lakh to ₹25 lakh, set at 25% of GST declared sales over the last 12 months
- No collateral and no margin. Covered under CGTMSE, with the guarantee fee paid by the borrower
- Applied for, sanctioned and paid out fully online
- Can be repaid or closed early with no prepayment charge
Who can apply
- Businesses that are already running.
- Open to businesses in manufacturing and services.
- Micro and small enterprises.
- Age 18 to 70.
- The most on offer is ₹25 lakh.
- Udyam registration is needed. It is free.
- Individuals and proprietorship firms who have banked with Indian Bank for at least 1 year
- At least one active GSTIN with GST returns filed for the last 2 years
- Profitable for the last 2 years with a positive net worth
- No working capital limit with another bank
- Good credit record as set out on the product page
How to apply
- On the Indian Bank website go to Products, then Online Loans, then Apply for GST Advantage Loan
- Or use the Apply Loan tab in the Indian Bank mobile app or internet banking
- Allow API access on the GST portal so the bank can read your GST data
In person, nearest Indian Bank branch for help
In Kerala, online through the Indian Bank website, mobile banking or internet banking, for existing Indian Bank customers in Kerala
Documents to keep ready
- PAN registered with your bank customer record
- Udyam Registration Certificate, with the mobile number matching the bank's records
- GSTIN and GST portal user ID, with API access enabled
- Active mobile number linked to your bank account and Udyam certificate
Where we found this
An independent guide by The Company of Four, not a government website. Schemes change often, so check every detail on the official website before you apply. Links marked ↗ open external websites that we do not run, and we are not responsible for their content. Seen something out of date? Tell us and we will look into it.