Pre Approved Business Loan
A pre-approved Indian Bank term loan for business owners who already run a current account with the bank, with the amount set from the last 12 months of account activity.
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- Cost to apply
- No processing or documentation charge. The page lists credit report charges of ₹30 and ₹805, recovered at disbursement
- Status
- Open
- Run by
- Indian Bank
What you get
- Term loan from above ₹1 lakh up to ₹10 lakh
- Fixed tenure of 36 months, repaid in monthly instalments
- Covered under CGTMSE, with the guarantee fee paid by the bank
- No processing or documentation charge
- Can be repaid early at any time with no charge
Who can apply
- Businesses that are already running.
- Micro, small and medium enterprises.
- Age 21 to 70.
- The most on offer is ₹10 lakh.
- Individuals and sole proprietorships with a current account at Indian Bank
- Satisfactory transactions in that account over the last 12 months
- KYC up to date, with a valid mobile number and PAN
- No overdue or bad loan record as set out on the product page
- CIBIL score of 730 or more where there is no business credit rank
How to apply
- Open the product page and choose Apply For Loan, or ask your home branch
- The bank confirms the pre-set amount it can offer you
- Sign the documents, digitally or at the branch
In person, your Indian Bank branch
In Kerala, existing current account holders at any Indian Bank branch in Kerala, or online
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 Seen something out of date?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.