MSME AUTO – RENEWAL

Process Flow:

Customer can access to login page through following channels:

1. Indian Bank web site (www.indianbank.in) – > Products> Online Loans > MSME Loan Renewal
2. Internet Banking > Login > My Accounts > Apply Loans > Renew MSME Loan
3. IndOASIS App > Apply Loan > Renew MSME Loan
4. Click here to renew the loan

Step: 1 – Customer Login

• Enter CIF Number / Account Number (due for renewal) and Click on Generate OTP button.
• Enter the OTP received in the mobile number registered with the Bank and click Submit.

Step: 2 – Business Details

• Enter the sales projected in the next financial year.
• Customer to select whether GST is available for his Business as “YES” / “NO” / “Exempted Services”.
• If GST is applicable, Enter the GST Number and GST User Name and click “Verify”.
• Enter the OTP received in the mobile number registered with the GST Site and click Submit.
• Click on Proceed button on entering the required fields.

Step: 3 – Loan Summary

• Loan details along with terms and conditions for renewal are displayed.
• Click on “I Agree” and “Renew” button.

 Step: 4 – Customer Consent for renewal.

• OTP will be sent to registered mobile number of the customer for consent.
• Enter the OTP and click on verify OTP button

 Step: 5 – Finish

(c) On successful renewal

• Congratulations message is displayed.
• Click on “Download Sanction Letter” button to download the sanction ticket along with the Key Fact statement (KFS) document.

 (d) On failure of renewal

• “Sorry! We are experiencing some technical error” message is displayed.
• Customer can contact the Branch for fixing the error and try again.

 FAQs to Customers for MSME Auto Renewal Process

1.Who are eligible for the Online Renewal Process?

Ans : Existing Borrowers classified as MSME with our Bank other than Loan against Jewel, Deposits, Bills and Forex related accounts.

2.How can I login for Online Renewal of my MSME loan?

Ans : Kindly enter your Customer Identification Number (CIF) or Loan Account Number in the login screen. Click here to renew the loan

3.What does MSME exposure mean?

Ans : MSME Exposure is Sum of Limit amount for Cash Credit/Overdraft/ and Loan Balance Outstanding in case of DL/Term Loan.

4.I have availed a MSME term loan of Rs.50 lakhs and cash credit limit of Rs.5 lakhs. Presently my MSME term loan balance outstanding is Rs.14.50 lakhs. Can I renew my term loan and Cash credit limit under the Online Renewal Process?

Ans : Yes. Borrowers with MSME exposure is upto 20 lakhs can renew under Online renewal process.

5.What type of accounts are eligible for auto renewal?

Ans : The Cash Credit limits, overdraft limit and Term loans are eligible for renewal under this process.

6.What is the periodicity for renewal process?

Ans : Once in a year, i.e from 30 days before date of expiry of limits.

7.How do I know that my account is due for renewal?

Ans : Borrower will receive SMS whenever your account is due for renewal.

8.During Online renewal process, if the message appeared as “Your account could not be renewed under Online Renewal Process”, What must I do?

Ans : Kindly visit the Branch from where the loan has been availed to complete the renewal process.

For any queries not available in this FAQ document, you may contact our toll free number 1800 425 00000.