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IndusInd Bank Personal Loan

IndusInd Bank Personal Loan

4.3

Max Tenure

5 yrs

Best Rate

12.99%*

Processing Fee

0.5%*

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Quick Links To Handle Your Personal Loan

IndusInd Bank Personal Loans

IndusInd Bank provides personal loans at attractive interest rates. It offers personal loans for various purposes. Apply for an IndusInd Personal Loan with CreditMantri and experience a world of benefits.

How to Apply for IndusInd Bank Personal Loan on CreditMantri.com

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INDUSIND Bank Personal Loan - Apply for INDUSIND Bank Personal Loans online from INDUSIND Bank ✓ Low Interest rates ✓ Quick Processing at creditmantri.com

Highlights of IndusInd Personal Loans

Interest Rate11.00% onwards
Processing Fees2.5% onwards
Loan AmountRs. 30,000 to Rs. 50,000
Loan Tenure1 to 5 years
Preclosure chargesPre-closure is allowed after 1 year. 4% of outstanding principal plus applicable tax
Guarantor RequirementNo guarantor required
Apply IndusInd Bank Personal Loan

Comparison of IndusInd Bank Personal loan Interest Rate with other lenders

LenderInterest RatesProcessing Fees
IndusInd Bank 11.00%2.5% onwards
Yes Bank 10.99% per annum onwards2.50% (one-time fee)
ICICI10.75% onwardsUp to 2.50%
SBI 10.30%-15.10%Up to 1.50%
Citibank9.99% p.a. To 16.49% p.a. 0.25% to 3.00%
Axis 10.25% onwards1.5% to 2%
HDFC 11.00% onwardsUp to 2.50%
Shriram City 11.49% p.a. To 23% p.a.2.50%

Features and Benefits of the IndusInd Bank Personal Loans

  • Flexible tenures in the range of 12- 60 months.
  • Convenient repayment options.
  • Affordable interest rates
  • No collateral or security required.
  • You could opt for IndusInd Bank a/c debit or ECS from your account in another bank.
  • Doorstep service for loan-related processes

Eligibility Criteria for salaried employees:

  • Minimum age of the applicant: 21 years
  • Minimum net monthly income: Rs. 25,000
  • Should have stayed minimum one year at the current residence if rented.
  • Should have completed 2 years of employment

Eligibility Criteria for self-employed individuals:

  • Minimum age of the applicant: 25 years
  • Age at the time of maturity of loan: 65 years
  • Net annual income: Rs. 4.80 Lakhs after tax deduction.
  • Post qualification experience: at least 5 years.

Eligibility criteria for self-employed professionals:

  • Minimum age of the applicant: 25 years
  • Maximum age for loan maturity: 65 years
  • Minimum net annual income after tax deduction: 4.80 Lakhs
  • Post qualification experience: 4 years

Documents Required For IndusInd Personal Loans

  • Signed application form with photographs.
  • Copy of voter Id card/passport/driving license
  • Bank statement for the last 3 months or bank passbook for 6 months.
  • Documents for salaried applicants:
    • Latest salary slip
    • Salary certificate with the latest Form 16 and current date.
  • Documents for self-employed applicants:
    • Most recent bank statement
    • Latest ITR or Form 16

IndusInd Bank Personal Loans Interest Rates and Fees

Interest Rate 11.00% onwards
Processing Fees Up to 3% of the sanctioned loan amount
Prepayment Fees 4.00% of the principal remaining after 12 estimated monthly installments.
Loan cancellation chargesRs. 1000 per event
Payment dishonor charges Rs. 450 per instance
Charges for duplicate statement Rs. 250 per instance
Loan rescheduling charges Rs. 1000 per event
Duplicate No Dues Certificate Rs. 250 per event
Document photocopy charges Rs. 250 per event

How To Apply For an IndusInd Bank Personal Loan?

After knowing all the important details about IndusInd Bank personal loans on the CreditMantri website, you can apply for the loan.

Online Apply Via the IndusInd Bank’s Website

1) Access the application form by clicking personal loan under the Apply Online Tab

2) Input the details asked for.

3) IndusInd Bank will fetch the best offers for you.

4) Complete the video KYC and the auto repayment set-up.

5) Sign the contract digitally for instant disbursement of the loan money.

Offline:

You can reach out to the IndusInd Bank customer care to apply for the loan. You can also go to the bank’s nearest branch and get the application form, fill it up completely, and submit the application.

Types Of IndusInd Bank Personal Loans

  • Personal Loan For Education: Takes care of all the expenses related to education either in India or abroad.
  • Loan For Wedding: A wedding loan is provided to meet all the expenses related to marriage like catering, wedding hall, photography, honeymoon, etc.
  • Medical Loan: Medical loan is a special personal loan scheme provided to meet unexpected medical exigencies.
  • Home renovation Loan: To arrange finance for home renovation and make it look beautiful.
  • Personal Loan Balance Transfer: To reduce the burden of EMI, individual applicants of other banks and NBFCs can avail personal loan balance transfer where they can transfer their existing personal loans to IndusInd Bank at lower interest rates.

IndusInd Personal Loan Customer Care

IndusInd Bank has 24/7 customer care services to clarify their queries or report their complaints. You can reach IndusInd bank personal loan customer care through

  • Toll-free number for customers: 1860 267 7777 (within India)
  • Helpline number for premium banking customers: 1860 267 7777
  • Via Email: reachus@indusind.com

IndusInd Personal Loan Interest Rates

IndusInd Bank offers personal loans at affordable interest rates and for various purposes. There are various factors affecting the interest rates like credit score, age, nature of employment, income source, etc. To know more, check IndusInd Personal Loan Interest Rates.

IndusInd Bank Personal Loan Eligibility

IndusInd bank sets certain eligibility criteria for personal loan applicants. The IndusInd Bank personal loan eligibility depends on factors like age, minimum net monthly income, number of years in employment, credit score, etc.

IndusInd Bank Personal Loan Status Check

You can do the IndusInd Bank personal loan status check either through offline or online methods. For online status check, you can do it by entering the application Id and mobile number, date of birth and mobile number, and reference number. You can also check online through netbanking. Offline, you can track it by calling customer care, sending an SMS, or visiting the branch.

IndusInd Bank Personal Loan EMI Calculator

IndusInd Bank personal loan EMI calculator can be used to compute the EMIs and make a decision on whether you can take the personal loan or not. You can also use it for other things such as comparing the loan EMIS of IndusInd banks with other leading banks, calculating the split of total EMIs into interest and principal repayments, and the amortization schedule.

Conclusion

IndusInd Bank provides personal loans with flexible durations and attractive interest rates. You can get the loan amounts desired according to your eligibility.

IndusInd Bank Personal Loan FAQs

1.What are the minimum and maximum loan amounts available from IndusInd?

You can avail of IndusInd Personal Loans ranging from Rs. 50,000 to Rs. 15,00,000 depending on your eligibility criteria like credit score, borrowing history, net monthly income, nature of job and repayment capacity.

2.What are the loan tenure options available to me?

You can repay your IndusInd Personal Loan conveniently over a period ranging from 12 to 60 months.

3. How long will it take for my Personal Loan amount to be disbursed?

Your loan amount will be disbursed in your account within 4-7 working days post receipt of the required documents. All loan approvals are at the discretion of the bank.

4. What are the options available to repay my Personal Loan?

You can pay the loan in equated monthly installments (EMIs) paid through ECS or Electronic Clearing System. If you have an IndusInd Bank account, you can also pay through auto debit of your monthly EMI.

5. Are there any additional charges for disbursal of a Personal Loan?

Yes, a processing fee up to 2.5% of the loan amount will be charged. Necessary documentation charges also apply. The same is deducted from the loan amount at the time of disbursal.

6. I don’t have an existing account with IndusInd. Do I need to open an IndusInd Bank account for availing the loan?

It is not mandatory to have an existing account with the bank you are applying for a loan from, but having a relationship with the bank will no doubt make your banking process easier. You will also be able to take advantage of a host of other value added services and offers with the loan.

7. Is part-prepayment of a Personal Loan allowed?

No, part prepayment of a personal loan is not allowed. You either have to pre pay it in full or pay it in EMIs for the stipulated tenure.

8. What is the maximum and minimum loan amount an individual is eligible for in IndusInd Bank?

IndusInd offers personal loans for amounts between Rs. 50,000 to Rs. 15 lakhs.

9. What is the duration taken to get a personal loan from IndusInd Bank?

IndusInd Bank personal loan gets approved and disbursed within a few hours of submitting the loan application and doing detailed verification. If the details are incorrect, it might take 1 to 2 days more. IndusInd Bank also gives pre-approved instant personal loans to select customers with quicker loan processing and disbursal.

10. What is the minimum balance needed for IndusInd Bank?

10,000 must be kept or a fixed deposit of Rs. 2,50,000 must be held with the bank.

Indusind Bank Personal Loan - Customer Reviews

4 / 5 (495 Reviews)
29 Aug 2018

EXCELLENT SERVICE

14 Jul 2018

Excellent & Fast Approval

12 Jan 2018

Good service

12 Jan 2018

So simple and easy

14 Feb 2017

"Best place for comparing loan offers I came across CreditMantri during my search for a personal loan. This website provided me all the info I wanted. It is easy to search for loan offer on their CreditMantri than in any other. I would say that the level of service offered by CreditMantri is the best. Got a very good interest rate on a personal loan from IndusInd. For me, they took around two weeks to process and to put the money in my bank account. I had some issues with my documents, but CreditMantri helped me to clear it no time. Keep up the good work!"

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