INDUSIND BANK PERSONAL LOAN

IndusInd bank personal loans can help you make many of your goals and wishes come true. Whether it is a long vacation you are yearning for or a renovation you wish to adorn your home with, the IndusInd bank makes sure that the lack of finances don’t come your way. The bank offers personal loans at affordable rates of interest and gives you the flexibility to repay your loan amount. So , if you are planning to have a big-fat shopping spree or you are troubled with expenses, then it is time to check out the IndusInd bank personal loan and see if it is the right one for you.

Indusind Bank Personal Loan Interest Rates & Charges

IndusInd Bank Personal Loan: Features and Benefits

IndusInd bank personal loan comes packed in interesting features and benefits, be it the personal loan interest charges or the chance to transfer your existing loan and save up on rates. 

Here are the features and benefits of IndusInd bank personal loan:

1. Multi-Purpose Loan : IndusInd bank personal loan is a type of unsecured loan that you can apply for when you have got different expenses to meet. The bank offers personal loans for the wedding, education, medical emergencies, travel, home loan etc. You need not worry about finances when you can have a personal loan to fund your aspirations.

2. Loan Amount : The loan amount you can get from IndusInd bank depends majorly on your requirements. Apart from that, there are multiple important factors such as your income, employment history, your credit score etc. that help the bank decide the loan amount you can have. The IndusInd bank personal loan amount ranges from Rs 50,000 to Rs 15 lakh.

3. Repayment Tenure : The bank gives you the option to choose from a flexible repayment tenure. IndusInd personal loan repayment tenure ranges from 12 months to 60 months. 

4. Interest Charges : IndusInd bank personal loan interest rates start at 11% and range up to 31.50%. The personal loan interest charges are affected by many factors including your credit score, repayment tenure and your relationship with the bank. 

5. Prepayment : IndusInd bank allows you to foreclose your personal loan, given that you have sufficient funds to prepay the loan amount. This facility is an excellent way to eliminate the cost of interest rates and get free from your loan earlier. The bank allows you to prepay your loan after the completion of 12 EMIs and charges 4% of the principal amount as prepayment fees. 

6. IndusInd Personal Loan Balance Transfer : IndusInd bank personal loan features a balance transfer facility using which you can transfer your existing loan to the bank and enjoy lower interest rates. 

IndusInd Bank Personal Loan Eligibility

The bank determines your eligibility for a personal loan based on many factors such as your age, employment status, income etc. Since the bank has set eligibility requirements for IndusInd personal loan, you need to make sure that you meet them in order to increase your chances of getting a loan. 

Here is the eligibility criteria for IndusInd personal loan:

• Individuals should be salaried, self-employed or professionals.
• The minimum age of salaried individuals should be 21 years and the maximum age should be 60 years.
• The minimum age of self employed individuals and self employed professionals should be 25 years and the maximum age should be 65 years.
• The minimum net monthly income of salaried individuals should be Rs 25,000.
• The minimum income of self employed individuals and self employed professionals should be Rs 4.8 lakh after tax.
• The salaried individuals should have at least 1 year of experience in the current organisation and the self employed individuals and professionals should have 5 years of experience. 

Documents Required for IndusInd Bank Personal Loan

When applying for an IndusInd bank personal loan, you should make sure you have all the required documents ready. Absence of any document during the application process can lead to delayed procedure or rejection of your loan application. Therefore, you should make sure that you have by yourself when you get started with the application.

Here are the documents required for IndusInd personal loan application:

COMPARE OTHER BANK PERSONAL LOAN INTEREST RATES :

IndusInd Bank Personal Loan EMI Calculator

With IndusInd personal loan EMI calculator you can easily calculate the amount you have to pay every month for your personal loan repayment and it can help you plan your budget accordingly.

Here are the steps to use IndusInd bank personal loan EMI calculator:

• Go to the official website of IndusInd bank.
• Navigate to the “Products” dropdown.
• Click on “Loans” and then click on the “Personal Loan”.
• Now, click on the “Calculator” option.
• Input the principal amount, rate of interest and the loan tenure in months.
• Hit the “Calculate Now” button.

You can see the EMI you will need to pay for your IndusInd personal loan.

You can also calculate loan EMI with help of  given formula 

E = P . r . (1+r)^n/((1+r)^n – 1)

Where;

• E = Equally monthly installments 
• P = Principal Loan Amount
• R = Monthly Interest Rate
• N = Number of Monthly Installments

How to Apply for IndusInd Bank Personal Loan

Here is how to apply for IndusInd bank personal loan:

Apply for an IndusInd bank personal loan offline

You can apply for an IndusInd bank personal loan offline by visiting the nearest branch of IndusInd bank. You have to make sure you take all the necessary with yourself when going to apply for an IndusInd bank personal loan. 

Apply for an IndusInd bank personal loan online

You can follow the steps mentioned below in order to apply for IndusInd personal loan online:

• Hop to the official website of IndusInd bank.
• Click on the “Products” dropdown menu.
• Find and click on the “Loans” option.
• Now click on the “Personal Loan” option. 
• Click on the “Apply Now” button.
• Enter the required information including residence type, employment type and your mobile number. 
• Hit the “Submit” button.

IndusInd Bank Personal Loan Customer Care

In case of any query or complaints regarding the IndusInd bank personal loan, you can contact the bank using the following number:

18602677777

FAQs On Indusind Bank Personal Loan

Q.1 How can I get an IndusInd personal loan?

You can apply for IndusInd bank personal loan by visiting the nearest branch. Alternatively, you can visit the official website of IndusInd bank and apply for the loan from there.

Q.2 What are the prepayment charges for IndusInd bank personal loan?

You can make prepayment of your IndusInd bank personal loan after 12 EMIs. The bank charges 4% of the principal amount as prepayment or foreclosure fees.

Q.3 What are the interest charges on IndusInd personal loan?

The IndusInd loan interest rates are affected by different factors including the loan tenure and credit history. The IndusInd personal loan interest rates range from 11% to 31.50%.