IndusInd Bank Personal Loan Interest Rate

IndusInd Personal Loan Highlights

With no collateral, zero paperwork, instant approval, and quick disbursal, getting a personal loan has never been easier for us. You can apply for the IndusInd Bank personal loan online in a matter of a few clicks. You will receive the funds directly into your account without any long waits, no hidden charges, and just the required financial support when you need it.

The following table lists some of the highlights of the IndusInd Personal Loan Interest rates.

Key Features of IndusInd Personal Loan Interest Rate

The following are some of the features of the IndusInd personal loan interest rate. They are:

• Competitive Rate of Interest: IndusInd offers some of the most attractive personal loan rates in the market. Actual rates may vary based on your credit score, income, and profile.
• Wide Interest Rate Across Profiles: Depending on your profile, whether salaried or self-employed, interest rates typically range from 10.25% to 31.50% p.a., giving flexibility across credit profiles
• Flexible Loan Amount: Borrow from ₹30,000 to ₹50 lakhs, covering both small-scale needs and significant financial requirements.
• Tailored Tenures That Fit Your Budget: Choose repayment terms anywhere from 12 to 60–72 months (some options extend to 84 months), allowing you to optimize EMI based on financial comfort.
• Minimal fees:
• Processing Fee: 3 to 3.5% of the loan amount
• Prepayment Charges: Generally, up to 4%, but certain loan types may offer no foreclosure charges
• Fast and Paperless Disbursal: Enjoy instant approvals, fully digital applications, and quick fund disbursal—no collateral, no hassle.

Types of IndusInd Personal Loans

IndusInd offers personal loans to its customers based on different segments. They are:

Personal Loan for Home Renovation:

Personal Loan for Home Renovation is given to individuals without any collateral. The eligibility criteria for personal loans are provided for salaried individuals or self-employed professionals. This personal loan can be taken by individuals to create stunning home interiors for themselves.

Personal Loan for Wedding:

A wedding can be the most expensive affair, and it is not always easy to cover the cost of the wedding. Your complete wedding expenses can be funded with the help of IndusInd personal loan.

Personal Loan for Travel:

If you're looking to explore dream destinations and plan a well-deserved vacation, consider an IndusInd personal loan for your travel needs.

Personal Loan for Medical Expenses:

Unexpected medical contingencies are likely to occur at any time. This can be well addressed with the help of personal loans. IndusInd personal loans are specially given to cover unwanted medical expenditure.

Personal Loan for Debt Consolidation:

When you are struggling with handling too many loans, you can go for a single loan to repay the rest of the loans. This is generally done when you are facing challenges in managing too many debts. This will help you to have a clear path towards financial freedom.

How to calculate the EMI on IndusInd Bank Personal Loan

IndusInd Bank offers Personal Loan EMI calculator on its website. This helps in calculating the monthly instalments to be paid towards closing the personal loan. The calculator is a very simple tool to use. One needs to enter the loan amount, rate of interest and the tenure of the loan to arrive at the EMIs amount. One can use the tool many times to work out different permutations and combination of figures. The result includes the EMI, total interest payable and the principal amount. This certainly helps in your financial planning for the month or the year.

IndusInd Bank Personal Loan Eligibility Criteria

The following is the list of eligibility criteria for the IndusInd Personal Loan Interest rate. They are:

For Salaried Professionals:

• Age: 21 years to 60 years old.
• Income: Minimum net salary of Rs. 25,000 per month.
• Minimum 2 years of experience, and 1 year with the current organization.
• Minimum 1 year with the current location.
• A minimum credit score of 730 and above.

For Self-Employed Professionals:

• Age: 25 years to 65 years. The maximum age at the time of loan maturity must be 65 years.
• Income: Rs. 4,80,000 and above.
• Minimum 4 years of professional experience with the current business.

For Self-Employed Individuals:

• Age: 25 years to 65 years. The maximum age at loan maturity must be 65 years.
• Income: Rs. 4,80,000 and above.
• Minimum 5 years of experience with the current business.

Fees & Charges

Apart from the processing fees and interest charges, one has to make a note of the additional fees and charges that come with the IndusInd personal loan. The following is the list of other fees and charges that come with the IndusInd personal interest rate.

EMI Calculation for IndusInd Personal Loan

The personal loan EMI calculator that is available on the IndusInd website will help you to play your repayments effectively. This tool is of valuable help to give you an estimation of your monthly EMI amount based on your loan amount, tenure, and interest rate.

The following is the list of steps that need to be followed for EMI calculation. They are:

Step 1: Enter the Loan Amount.

Step 2: Choose the desired repayment period.

Step 3: Enter the applicable and acceptable interest rate.

Step 4: Finally, you will view the monthly EMI due for a particular month.

The following is the EMI Calculation process for the IndusInd personal loan. They are:

EMI Formula: P X R X (1 + R) ^ N/(1 + R) ^ N – 1

Where P = Principal

R = Rate of Interest

N = Number of Years.

Having this EMI formula in mind, say suppose an individual has taken a personal loan of Rs. 40,00,000 at the rate of 10.49% for 3 years. Then the

Principal = Rs.40,00,000

Rate of Interest = 10.49/100 = 0.1049

Number of Years = 12 x 3 = 36 months

40,00,000 X 0.1049 X (1 + 0.1049) ^ 36 / (1 + 0.1049) ^ 36 – 1

Your monthly EMI will come up to Rs.1,35,000

How to Apply for Instant IndusInd Personal Loan?

The following is the list of steps that one needs to follow to apply for an Instant IndusInd Personal Loan. They are:

• Fill in the required personal details. This could be as simple as your PAN number and mobile number.
• On the basis of the details you have provided, we will get the best offers that are available for you based on your needs and requirements.
• You need to share your bank account details for disbursement of the loan and also complete the video KYC process.
• You need to e-sign the agreement, set the required auto payment and get funds instantly on your account.

Tips to Get the Best Interest Rate

The following are some of the tips and tricks that need to be adopted to get the best personal loan interest rate. They are:

• Maintain a High Credit Score: Aim for a higher credit score. A strong credit score means that you are a low-risk borrower. This will improve your chances of getting low-interest loans.
• Choose a Shorter Loan Tenure: Shorter tenures always come with low interest costs as well. Even if the EMI is slightly higher, you save money on the total interest paid.
• Compare Loan Offers: You need to check the IndusInd personal loan along with the other loan offers before applying. Festival offers and pre-approved deals will reduce the interest rate on personal loans.
• Apply When You Have a Stable Income: A steady and higher income gives you better negotiating power. IndusInd offers preferential rates to salaried employees of reputable companies.
• Reduce Existing Debts Before Applying: Reducing your Debt-to-Income ratio will improve your eligibility level. Clear credit card dues or any other loans will also reduce your debt.
• Consider Balance Transfer: When you have a personal loan with a higher interest rate, you can transfer it to IndusInd if it offers a better rate.
• Opt for an Existing Customer Advantage: If you are holding a salary account or credit card, you will get special interest rates and faster processing.

Disclaimer: This page includes information that has been compiled from many sources and is only offered for informational purposes. Given this type of data might change over time, we cannot guarantee that the information supplied or included within it, is accurate. It is anticipated that the user would confirm with the relevant source prior to taking any choices or actions.

Indusind Bank Personal Loan Interest Rate FAQs