The balance transfer option offered by IndusInd lets you transfer any existing personal loan you have to their bank so that you can reduce the loan burden by opting for lower interest rates and flexible tenures. The interest rates offered vary between 10.5% and 30.5%.
IndusInd Bank Balance Transfer Options
There are two ways in which you can request for the balance transfer option with the bank:
- You can visit the official website and apply for the balance transfer by providing a few basic details.
- Alternatively, you can choose the traditional method of visiting the nearest bank branch to apply.
IndusInd Bank Personal Loan Balance Transfer Online
You can apply for a personal loan balance transfer through the official website of IndusInd Bank. All you have to do is share some of your basic details such as the details of your residence, employment type, date of birth, monthly net income, monthly obligations, loan amount required, and your contact details. Once you share the details, a representative from the bank will call you, on the phone number you provided, to give you more details on how you can go about initiating the balance transfer.
IndusInd Bank Personal Loan Balance Transfer Benefits
- Get an interest rate as low as 10.5%.
- Choose a tenure from 1 year to 5 years to repay the loan.
- Enjoy doorstep services from the bank.
- Avail benefits of the loan without having to provide collateral or a guarantor.
- Pay a minimal processing fee.
- Apply for the balance transfer with only minimal documentation.
- Opt for an additional top-up loan over and above your existing personal loan.
IndusInd Bank Personal Loan Balance Transfer Eligibility
- You should be 21 years – 25 years to apply for the loan.
- Your age at maturity can be about 60 years – 65 years.
- If you are salaried, your net monthly income should be Rs.25,000 and you should have a work experience of 2 years.
- If you are self-employed, you should have an annual net income of Rs.4.8 lakh with a work experience of 4 – 5 years after post-qualification experience.
Documents Required for IndusInd Bank Balance Transfer
- Proof of identity such as Aadhaar card, passport, driving licence, voter ID, PAN, etc.
- Proof of address such as driving licence, passport, Aadhaar card, voter ID, etc.
- Proof of income such as salary slips, salary certificate, latest form 16
- Bank statement of the previous 3 months
- Self-employed individuals will have to submit additional documents such as proof of qualification, profession continuity proof/business continuity proof, and sole proprietorship document among others