Bharat Financial Inclusion Limited (BFIL)

Updated: 02-05-2023 10:24:00 AM

Bharat Financial Inclusion Limited (BFIL) is a wholly-owned subsidiary of IndusInd Bank Limited. The institution was incorporated in 1998 and was merged with the IndusInd Bank in 2019. This institution serves smaller markets such as villages and small towns where the penetration of regular banks in relatively low.

BFIL has more than 10 million customers in 1.34 lakh villages spread across 23 states of India.

Loan

Merchant Loan

BFIL provides small loans to merchants for working capital based on transaction and account behaviour. Small store merchants who subscribe for Bharat Money can apply for this loan.

Personal Loan

BFIL provides personal loan to applicants through Bharat money Store in far-off places. The loan criteria depends on pre-defined criteria set for those who have no access to credit score.

Retailer Loan

This loan is provided to retails who have a daily cash-flow. These loans are provided at the doorstep and has tenure ranging from 20 weeks to 104 weeks.

MSME Loan

The financial institution provides secured as well as unsecured loan to MSMEs for their businesses. These loans are offered on the basis of ticket size and collateral provided.

Two-wheeler Loan

BFIL provides two-wheeler loan to existing customers who have been disciplined in making repayments in the past at affordable interest rates.

Deposit Account

Savings Account

Zero balance savings account by IndusInd Bank is provided to people in remote areas through BFIL. All features and charges remain the same for all customers.

Current Account

Shopkeepers, retailers and people who operate cash daily are offered current accounts with digital and WhatsApp banking along with QR Code facility.

Investment

Fixed Deposit

BFIL customers can invest in fixed deposits starting from Rs. 1,000 to variable amounts depending on the income of customers.

Recurring Deposit

Customers can also invest regularly in small amounts every month in recurring deposits to build wealth for future.

Bharat Financial Inclusion Limited (BFIL)

Loan