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.
Loan Amount |
Ranges from Rs 50,000 to Rs 15 lakh |
Interest Charges |
Ranges from 11% to 31.50% |
Processing Fees |
Up to 3% of the loan amount + applicable taxes |
Tenure |
Up to 5 years |
Prepayment Charges |
4% |
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.
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:
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:
Documents |
Salaried Individuals |
Self Employed Individuals |
Identity Proof |
Aadhar Card, Passport, Driving Licence, Voter ID Card |
Aadhar Card, Passport, Driving Licence, Voter ID Card |
Address Proof |
Passport, Voter ID Card, Recent Utility Bill such as Electricity Bill, Water Bill, Telephone Bill |
Passport, Voter ID Card, Recent Utility Bill such as Electricity Bill, Water Bill, Telephone Bill |
Income Proof |
Salary Slips, Bank Statement, Form 16, Salary Certificate |
IT returns, Bank Statements, Balance Sheet and Profit & Loss Account, Challans Showing Payment of Advance Income Tax |
Other Documents |
Passport-size Photographs, Application Form |
Passport-size Photographs, Application Form |
COMPARE OTHER BANK PERSONAL LOAN INTEREST RATES :
BANKS | INTEREST RATES |
AXIS Bank Personal Loan | 12% to 24% |
SBI Personal Loan | 11.30% to 16.40% |
HDFC Bank Personal loan | 10.75% to 21.50% |
Kotak Mahindra Bank Personal Loan | 10.50% to 16.99% |
Yes Bank Personal Loan | 20.00% to 22.00% |
Citi Bank Personal Loan | 10.50% to 17.99% |
ICICI Bank Personal Loan | 10.99% to 16.25% |
Standard Chartered Bank Personal Loan | 11.00% to 19.20% |
IDBI Bank Personal Loan | 12.00% to 14.00% |
RBL Bank Personal Loan | 14.00% to 23.00% |
HSBC Bank Personal Loan | 10.75% to 17.84% |
Bank of Baroda Personal Loan | 7.65% to 12.65% |
Bank of India Personal Loan | 12.15% to 14.15% |
Canara Bank Personal Loan | 12.05% onwards |
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:
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;
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:
In case of any query or complaints regarding the IndusInd bank personal loan, you can contact the bank using the following number:
18602677777
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.
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.
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%.
Know More About
You're eligible for a Indusind Bank Personal Loan if you:
Are legally adult enough to handle it
Have still got it
Get a regular pay check
Make more than a basic buck
Your eligibility depends on:
Earn more than minimum income required
Maximum allowed Personal Loans is Rs. 10K to Rs. 45 lakhs
EMIs of other loans loweryour eligibility
Boost your eligibility by:
Pay off your credit card bills
Choose longer tenure loan up to 5 years
Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:
- 1. Photo ID and age proof
- 2. Signed application form with photograph
- 3. Residence proof
- 4. Last 6 months bank statement
- 5. Documentation for salaried applicants:
- Last 3 months salary - slips
- Form 16 or Income Tax Returns
- 6. Documentation for self-employed applicants:
- Last 3 years Income Tax Returns with computation of Income
- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
Updated on 25 Nov 2017
Indusind Bank Personal Loan Details | |
---|---|
Interest Rate (Monthly reducing balance) | 11% - 16.75% |
Processing Fees | Nill |
Loan Tenure | 1 year to 5 years |
Pre-closure Charges | Varies with bank |
Guarantor Requirement | Varies with bank |
Personal Loans EMI Calculator