Indian Bank has been delivering excellence for years in financial services through customer focus, employee engagement, and sustainable growth. Banks have been a vital part of our lives for decades, whether for financial needs or investments. With the enormous competition in the market, Indian Bank has come up with a variety of loans to ensure maximum reach to everyone, with an emphasis on their customers’ needs. Indian Bank offers several types of loans to help you achieve your dreams.
From agriculture to personal and commercial loans, they’ve got all the bases covered. Their online loan provides you with fast approval and disbursal of funds at competitive interest rates. Indian Bank offers multiple options for loans, so you have the right loan to meet your short-term or long-term needs. Their multiple channels include online application processes, walk-in branches, and ATM machines, so the reach is not an issue.
So without any further delay, let’s move forward and discuss all the loans offered by Indian Bank, along with its features.
Indian Bank offers loans in 9 major fields, which are:
Agriculture
Group
Personal/Individual
Policy on Co-Lending by Bank and NBFC/HFC to Priority Sector
MSME
Education
Corporate
NRI Loans
59 minutes loans
Now let’s discuss each of the loans available in these fields to clear all your doubts and confusion:
Agriculture
The bank loan is intended to support the construction of new storage facilities, market yards, and silos—or the expansion, modernization, or improvement of existing facilities. The bank has designed this loan scheme for mechanizing farming activities to improve agricultural production/productivity. The scheme will enable farmers to purchase tractors and related implements, including a trailer, power tillers, and pre-used tractors.
Agricultural Godowns / Cold Storage
Financing Agriculturists for Purchase of Tractors & Other Farm Machinery
Agri Clinic and Agri-Business Centres
SHG Bank Linkage Programme – Direct Linkage to SHGs
Joint liability group (JLG)
Kisan Credit Card (KCC)
Agricultural Jewel Loan Scheme
Kisan Credit Card (KCC) – Animal Husbandry and Fisheries
Dairy Loan
SELF HELP GROUP (SHG) – SHAKTI
Food and Agro Processing
IB Star Agro Mills (Rice Mill, Dhal Mill, Oil Mill, and Flour Mill)
IND KISAN SAUR SHAKTHI (PM KUSUM)
Personal/Individual Schemes
Whether you have health issues, need a vacation, looking for a new car, or have to remodel your kitchen — loans are there for you. Banks are offering Personal Loans and Individual Loans with affordable interest rates to help you fulfill your dreams. Here is the list of all the Indian Bank Personal/Individual Loan Schemes.
IB Home Loan Combo
Reverse Mortgage
Ind Mortgage
IB Home Loan
IB Home Improve
NRI Plot Loan
NRI Home Loan
IB HOME ADVANTAGE
IB HOME ENRICH
Restructuring of Personal Loan due to Covid Pandemic
Jewel Loan
OD against Gold Jewels
Loan for Purchase of “Van / Minibus / Bus / Ambulance” to Institutions / Firms / PSU / Company / Hospitals
Loan Against Lease Rental
Policy on Co-Lending by Bank and NBFC/HFC to Priority Sector
The objective of the policy on co-lending (‘Co-Lending Policy’) is to promote financial inclusion by ensuring access to affordable credit by unserved and underserved persons by making available funds to the ultimate beneficiary at an affordable cost, considering the lower cost of funds from banks and the greater reach of Non-Banking Finance Companies (NBFC).
MSME Loan Schemes
Indian Bank MSME Loan scheme provides working capital to small and medium enterprises (MSMEs) with a focus on business expansion and employment generation in a sustainable manner. The complete loan package includes schemes for the acquisition of fixed assets, modernization of business places/offices, etc, besides general working capital loans.
IB Tradewell
IND SME Secure
IB MICRO
IND-SME E-VAAHAN
IB CONTRACTORS
IB MY OWN SHOP
IB Doctor Plus
IND MSME VEHICLE
IND-SME EASE
IND-SURYA SHAKTI
IND-GECLS-COVID-19
IND-SDSM (IND-SUBORDINATED DEBT FOR STRESSED MSME)
INDSME Sanjeevini
INDSME Arogyam
GECLS Extension Loans
Corporate Schemes
The Indian Bank provides a comprehensive suite of lending solutions to businesses in India. Corporate loans are available for projects and business requirements, including open-term loans for high-rated existing clientele. Non-Fund based facilities in the form of Inland/Import Letters of Credit as sub-limit to procure the equipment/types of machinery needed for the projects are also provided by the Indian bank.
Corporate credit
Working Capital
Term Loan
Corporate Loan
Resolution Framework for COVID 19 Related Stress – For eligible Corporate borrowers and MSMEs above Rs.25 crore as per RBI guidelines
Derivatives
Education Loan
Education Loan Interest Subsidies
Indian Bank Education Loan schemes are designed to support the nation in developing a high standard of education. The government of India has launched various schemes to promote the revolution of education in their upcoming generations. It provides interest charged upto the moratorium period as a subsidy for education loans under three schemes subject to scheme guidelines. Below mentioned are a few schemes supported by Indian Bank.
Central Scheme to provide Interest Subsidy to Educational Loan accounts (CSIS)
Dr. Ambedkar Interest Subsidy on Educational Loan for Overseas Studies for OBCs/EBCs
59 Minutes Loan
What if you are in dire need of money but don’t want to compromise on the purpose and urgency of the loan? The Indian Bank 59 Minutes Loan scheme has been launched with the purpose of helping customers with financial support in immediate needs. With this loan scheme, you can get digital loan approval in 59 minutes and avail of loans upto ₹ 10 crores in the simplest and fastest way possible. The loans available under this scheme are:
Mudra Loan Up to 10 Lakhs
MSME Loan Up to 5 Crore
Home Loan Up to 10 Crore
Personal Loan Up to 20 lakhs
Auto Loan Up to 1 Crore
Wrapping it Up
Be it any section, be it any loan, Indian Bank has a loan for you. Indian Bank provides amazing facilities to its valuable customers, right from home improvement loans to loans that help you in growing your business. Their tenure and amount are as per your needs, and their charges are also very low compared to other banks.
FAQs
The Maximum Lending Amount Limit for the Indian bank is Rs.70 lakhs
The Repayment Tenure of the Indian Bank Home Loan is up to 30 years.
If you’re a resident individual and have worked for at least three years (including previous employment/experience and confirmed in the present employment) with a steady source of income, you can apply for an Indian Bank Home Loan.
The interest rates of Indian Bank Corporate Loan will be Based on rating and to be serviced then and there.