Indusind bank personal loan established in 1994 at Pune. It offers a wide range of personal banking services including deposits. loans, credit cards and insurances. This Bank is the first among the new generation private banks in India.
IndusInd Bank personal loans also known as unsecured loans to fulfill certain unavoidable expenses such as wedding expenses, home renovation, holiday expenses etc.
1. Quick disbursal of loan :
Indusind bank should do quick and easy disbursal of loan in their bank account. The loan amount will be disbursed within 4 to 7 working days.
2. Less documentation :
Indusind Bank personal loan provides less and minimal documentation for the customers. It is not required to submit so many documents for a personal loan. The process of documentation is very simple and fast.
3. Affordable interest rate :
The minimum interest rate of Indusind bank personal loans is 11% and the maximum interest rate is 16.75%. Basically the rate of interest will be decided by the bank according to the customer age, employment type, overall profile and the most probably Cibil score.
4. No processing fees :
There is no processing fee charged by Indusind bank personal loan. So the customer is free from processing fees.
5. No collateral or guarantor :
Indusind Bank is an unsecured loan so you does not need to submit any collateral and guarantor for personal loan
|
TYPE |
CHARGE |
|
Processing Fees |
Zero charges |
|
Prepayment Charges |
For salaried :4% of principal outstanding after repayment of 12 EMIs For Self-employed : 4% of principal outstanding after repayment of 6 EMIs |
|
Payment Dishonor fees |
Rs 450 + taxes |
|
Cheque / ECS / SI Swapping fee |
Rs 500 + taxes per instance |
|
Personal loan Duplicate Statement fee |
Rs 250 + taxes per event |
|
Duplicate Amortization Schedule charge |
Rs 250 + taxes per event |
|
Duplicate NDC |
Rs 250 + taxes per event |
|
Loan Re-Booking |
Rs 1000 + taxes per event |
|
Loan Cancellation fee |
Rs 1000 + taxes per event |
|
Penal Charge |
Rs 150 + taxes for each EMI delay beyond 5 days |
|
Legal Charge |
As per Actuals |
|
Charges for Photocopy of Agreement / Documents |
Rs 250 + taxes per instance |
|
Stamp Duty |
As per State Laws |
|
CIBIL Report |
Rs. 50 per instance per set + taxes as applicable |
|
ELIGIBLE |
Salaried, self-employed, private sector employees, government employees, doctors, teachers, Employees of various public and private companies, local bodies. |
|
AGE |
For Salaried = 21 to 60 years For Self employed = 25 to 65 years |
|
INCOME |
For Salaried : Monthly income Rs. 25000 For Self employed : Net income Rs. 4.8 lakh For salaried 2 years minimum overall experience and 1 year minimum experience in present company For self-employed, at least 5 years of experience after relevant qualification |
|
TYPE |
DOCUMENTS |
|
ID proof |
Aadhar card, pan card, driving license, passport, etc. |
|
Address proof |
Aadhar card, voter id, rental agreement, registry, and utility bills |
|
Income proof |
For salaried : Latest salary slip and salary certificate with Form 16 For self employed : Latest bank statement, ITR and Form 16 |
|
BANKS |
INTEREST RATES |
|
12% to 24% |
|
|
11.30% to 16.40% |
|
|
12.15% to 15.15% |
|
|
11.50% to 12% |
|
|
10.75% to 21.50% |
|
|
10.50% to 16.99% |
|
|
20.00% to 22.00% |
|
|
10.50% to 17.99% |
|
|
10.99% to 16.25% |
|
|
11.00% to 19.20% |
|
|
12.00% to 14.00% |
|
|
14.00% to 23.00% |
|
|
10.75% to 17.84% |
|
|
11.00% to 16.75% |
|
|
7.65% to 12.65% |
|
|
12.15% to 14.15% |
|
|
12.05% onwards |
1. Indusind Bank Business Loan
2. Indusind Bank Car Loan
3. Indusind Bank Personal Loan
4. Indusind Bank Credit Card Loan
1. Offline Method : visiting the nearest branch
2. Online Method :
Go to Indusind bank portal
Now go to “Personal” section
Now go to “Loan”
Now select “Personal Loan”
Complete the registration form and attached all required documents
After that submit your application form
The formula to calculate EMI:
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
The maximum limit for Indusind Bank personal loan is Rs. 25 lakh.
The interest rate is charged by Indusind Bank personal loan is 11% to 16.75%
The minimum and maximum repayment tenure of Indusind Bank personal loans is 1 to 5 years
Yes, if you are salaried your age should be 21 years to 60 years and if you are self-employed your age should be 25 years to 65 years.
By directly visiting the nearest branch or can apply online at their website.
It’s an unsecured loan, no collateral and security needed to get a Indusind Bank personal loan.
Last Updated on : 07/Sep/2020Know 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 | No Charges |
| Loan Tenure | 1 year to 5 years |
| Pre-closure Charges | Varies with bank |
| Guarantor Requirement | Varies with bank |
Personal Loans EMI Calculator