IndusInd Bank Personal Loan: Interest Rates, Eligibility, How to Apply

IndusInd Bank Se Personal Loan Kaise Le : IndusInd Bank Personal Loan offers you a repayment tenure of 5 years, easy repayment options and competitive interest rates. No guarantor is required. Loan can be taken for any purpose.

Features of IndusInd Bank Personal Loan

  • Repayment Tenure: You can repay your loan with various options, and choose from a minimum tenure of 12 months to a maximum of 60 months.
  • You can opt for Debit from IndusInd Bank account in easy EMI mode, this is the best option.
  • Interest Rate: IndusInd Personal Loans offer competitive interest rates. Its interest rate ranges from 10.49% to 31.50%, keep in mind that the interest rates depend on your credit score and credit history and the internal policies of the bank.
  • No guarantor required: Since this is an unsecured loan, nothing is required to be pledged to avail the loan.

IndusInd Bank Personal Loan Eligibility Criteria

for salaried

This category includes salaried doctors, employees of public and private limited companies, government sector employees and salaried. You are eligible for IndusInd Personal Loan if you fulfill the following criteria:-

  • Your age should be minimum 21 years and maximum 60 years
  • Your minimum monthly income should be Rs 25000
  • You have completed minimum 2 years in employment
  • You have completed at least 1 year in the current organization
  • You have lived in the same residence for a period of at least 1 year (if rented).

for self employed

This category includes self-employed doctors (MBBS and higher degree), architects, chartered accountants, company secretaries, engineers and MBA consultants. You are eligible for IndusInd Personal Loan if you fulfill the following criteria:-

  • Your age should be minimum 25 years and maximum 65 years
  • Your minimum annual income after tax should be Rs 4.8 lakh
  • You should have 4 years of experience (5 years if you are a self-employed sole proprietor, director or partner in manufacturing, trading or services business)

Documents Required for IndusInd Bank Personal Loan

for salaried

  • Identity Proof – Passport, Driving License, Voter ID Card, Aadhar Card, PAN Card (Any one has to be submitted)
  • Address Proof – Lease/Rent Agreement, Passport, Driving License, Ration Card, Utility Bill (not more than 3 months old)
  • Income Certificate – Last 3 Months Salary Slip and Latest Form 16
  • Bank Details : Bank Statement of last 3 months where salary credit takes place.

for self employed

  • Identity Proof – Passport, Driving License, Voter ID Card, Aadhar Card, Pan Card
  • Address Proof – Rent Agreement, Passport, Driving License, Ration Card, Utility Bill (not more than 3 months old), Business License, Establishment, Sales Tax Certificate, Valid Passport (Any one has to be submitted)
  • Current Account Bank Statement – ​​Latest 6 Months Bank Statement
  • Proof of Qualification – Highest Professional Degree
  • Latest 2 years ITR with computation of income, duly attested by P&L A/CA.
  • Proof of Continuity of Profession

IndusInd Bank Personal Loan Interest Rate

The interest rate varies for each customer and depends on several factors including the customer’s prior credit history. The interest rate ranges from 10.49% to 31.50% and is subject to change at any time.

Other Charges of IndusInd Bank Personal Loan

IndusInd Bank Personal Loan includes the following along with other charges:-

Processing Fee – 2.50% of the loan amount + Tax

Prepayment Fee:

  • For Salaried – 4% of the outstanding principal after repayment of 12 EMIs
  • For self-employed – 4% of the outstanding principal after repayment of 6 EMIs

How to Apply IndusInd Bank Personal Loan?

You have to fill your details by visiting the official website of IndusInd Bank, fill your details by opening the link given below.

https://induseasycredit.indusind.com/customer/personal-loan/lead?utm_source=DotCom&utm_medium=PL-LP-Banner&utm_campaign=mktgothers

What is the maximum loan amount that can be taken from IndusInd?

You can avail loans from IndusInd from Rs.50,000 to Rs.15,00,000. The maximum loan will be available based on your eligibility criteria like credit score, credit history, monthly income, nature of job and repayment capacity.

What are the loan tenure options available?

You can easily repay your IndusInd Personal Loan in a tenor of 12 to 60 months.

How long will it take for the disbursement of IndusInd Personal Loan amount?

Your loan amount will be disbursed to your account within 4-7 working days after receipt of required documents.

Are there any additional charges for disbursement of personal loan?

Yes, processing fee will be charged up to 2.5% of the loan amount.

Is part prepayment of personal loan allowed?

No, partial prepayment of personal loan is not allowed. You will either have to pay it in full or pay in EMIs for the stipulated tenor.

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