IndusInd Bank offers personal loans to salaried employees, self-employed professionals, and self-employed individuals.
Prospective borrowers can avail loans of up to Rs.15 lakh from IndusInd Bank at attractive interest rates that start at 11.25% p.a. The eligibility criteria that an applicant will have to meet to borrow a personal loan from IndusInd Bank are as follows:
|Criteria||Salaried Employees||Self-Employed Professionals||Self-Employed Individuals|
|Age||21 years to 60 years||25 years to 65 years||25 years to 65 years|
|Income||Rs.25,000 p.m.||Rs.4.8 lakh p.a.||Rs.4.8 lakh p.a.|
|Work Experience||2 years (1 year in the current organisation)||4 years||5 years|
|Residential Status||1 year in current residence||Nil||Nil|
|Interest Rate||11.25% p.a.|
|Loan Amount||Up to Rs.15 lakh|
|Loan Tenure||1 year to 5 years|
|Processing Fees||Up to 2.50%|
To increase your chances of being approved for a personal loan at an affordable rate of interest, it is best to maintain a credit score of more than 700. While your application may be approved, it is likely that you may be charged a slightly higher rate of interest.
No, you need not submit any collateral or security to borrow a personal loan from IndusInd Bank.
You will need to repay the loan amount via EMIs.
Yes, you can prepay your personal loan amount. However, you may be charged a penalty by the lender.
You will need to submit the following documents:
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