Using INDIE’s line of credit to finance your dreams

Using INDIE’s line of credit to finance your dreams

30 December 2023

You might have a dream of renovating your home, having a grand wedding, or even setting up your own business. Now, all these aspirations could cost quite a bit. It is understandable to feel apprehensive about depleting your savings to realise these dreams, which is why you can always look for financial support. The traditional way would be to consider personal loans and credit cards, however, if you are looking for an alternative, consider applying for a line of credit.

For those who are unaware of what a line of credit is, it is a borrowing limit of funds, pre-set by a bank. As a borrower, you are allowed to withdraw from your line of credit till you reach the bank’s maximum set amount.

How can INDIE’s line of credit help with financing your dreams?

IndusInd Bank’s cutting-edge INDIE app allows you to activate a line of credit within just a few minutes. Once you have your INDIE line of credit set up, here’s how it can help you finance various dreams:

  1. Pay interest only on the amount that is withdrawn
    One of the biggest advantages of applying for a line of credit is that you only have to pay interest on the amount that is used, not the entire line of credit. For instance, if you apply for a loan worth ₹5 lakh, interest would be charged on the entire loan amount. On the other hand, if you have a credit line of up to ₹5 lakh but withdraw only ₹2 lakh, you will only have to pay interest on ₹2 lakh. This makes a line of credit a great cost-effective option as compared to loans. 

  2. Choose from convenient repayment options
    Before taking any form of loan, it is essential to first make sure that the loan can be easily repaid without facing any financial difficulties in the future. With INDIE’s line of credit, you can choose from convenient repayment options. Based on your preference, you can choose to make lump-sum payments or clear the credit through Equated Monthly Instalments (EMIs).

  3. Get instant access to funds
    Some expenses cannot be gauged beforehand. For instance, if you are planning a wedding, basic expenses can be accounted for. However, the overhead expenses may go beyond your planned budget. To take another example, if you are running a start-up, it is essential to be prepared for unexpected situations. Small start-ups are prone to losses or dynamic expenses, and you need to have the financial backing to be able to tackle these expenses. This is where having instant access to a line of credit would prove to be quite helpful. You can make multiple withdrawals whenever needed, as long as you are within the maximum limit set by the bank.

  4. Enjoy a hassle-free approval process for your line of credit
    A lot of borrowers who apply for loans are in urgent need of funds. So, going through a lengthy process to get loans could be inconvenient. Not only would they have to submit the required documents but they would also have to wait for the lender’s approval, which could take a long time. This is not a problem when it comes to the INDIE line of credit since IndusInd Bank offers a digitally streamlined approval process. You can apply online and get a quick approval without any extensive paperwork requirements. This ends up saving a lot of your time and effort.


Lastly, before applying for a line of credit, make sure to carefully go through the terms and conditions to be aware of all the clauses mentioned in the fine print. Take advantage of INDIE’s flexible repayment tenures for the line of credit and opt for a repayment plan that suits your financial situation.

Disclaimer: Views are personal opinions of the author.
The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.