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    We found 1 IndusInd Personal Loan Eligibility Calculator
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    IndusInd Personal Loan Eligibility Calculator is Rated as "Great!" by 881 Users

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    IndusInd Personal Loan Eligibility Calculator

    About IndusInd Bank Personal Loan

    Apply for Personal Loan

    IndusInd Bank personal loans are ideal for large expenses that your savings can’t meet. Acquiring that expensive product or renovating your home, paying for child’s marriage or education has never been easier. Personal loans from IndusInd Bank can be acquired with a very easy application process, they come at low interest rates and can be paid off in tenures from 1 to 5 years depending on your personal requirement.

    IndusInd Bank Personal Loan Eligibility for Salaried and Self-employed Applicants

    Particulars Salaried Self-employed
    Age (Min-Max) 21 to 60 years 25 to 65 years
    Income Rs.25,000 per month (minimum) Rs.4.8 lakhs p.a. (post tax)
    Guarantor Not required Not required
    CIBIL Score 650 (minimum) 650 (minimum)
    Minimum Loan Amount Rs.50,000 Rs.50,000
    Maximum Loan Amount Rs.15 lakhs Rs.15 lakhs
    Minimum Loan Tenure 1 year 1 year
    Maximum Loan Tenure 5 years 5 years
    Interest Rate 11.25% onwards 11.25% onwards
    Processing Fee Up to 2.5% + Tax Up to 2.5% + Tax
    Prepayment Charge After 12 EMIs, 4% of principal outstanding + Service Tax After 6 EMIs, 4% of principal outstanding + Service Tax

    Factors affecting Eligibility of IndusInd Bank Personal Loans

    IndusInd Bank, like other banks, gauge eligibility on the basis of applicants’ ability to repay the loan. Some factors that affect a person’s eligibility are:

    • City of residence. Getting loan sanctioned in a metro city like Bangalore, Chennai, Mumbai or Delhi is easier than in other cities.
    • Income. The more you earn, the more you can repay. Hence, the higher your income, the higher the amount that can be budgeted towards EMI for repayment.
    • Your age. Younger applicants are risky candidates, as young salaried people shift jobs often to exploit opportunities. Older and more experienced applicants are viewed as safer bets.
    • Type of employment. Salaried people get regular incomes on fixed dates and can have EMIs due deducted directly from their salary accounts as and when they get paid. Self-employed people rely on the demand for their products or services in order to earn an income. This income is usually inconsistent and seasonal, and may not be enough to pay off the EMIs.
    • Employment status. It takes a while for young salaried people to find a comfortable job that takes care of all their needs – once you find that stable job, you’re most eligible for an IndusInd Bank personal loan. It helps if you’ve been employed for a few years in the same company.
    • Residence type. Applicants living in rented houses must pay an amount of their salary as rent, lowering the disposable income left over to pay EMIs. Also, it’s easier for a person living in a rented place to abscond in case they feel they cannot keep up with EMI payments. Applicants living in owned properties are more likely to get loans approved, and on better terms as they pay no rent, and have a greater amount of idle income to divert towards EMIs. The bank will also have the security of a definite location to find them in case they default.
    • Duration of residence in application location. The longer you’ve been living in a certain place, the higher are the chances of getting a personal loan approved on your terms. IndusInd Bank gives more preference to applicants who’ve lived in the city for longer, as it’s a sign of stability.

    How does CIBIL score affect your IndusInd Bank Personal Loan Eligibility?

    • Score: When taking a personal loan from IndusInd Bank, a CIBIL score over 750 will ensure your eligibility. But if you want to increase your eligibility, scores closer to 900 will increase IndusInd Banks confidence in your ability to repay your loan.
    • Loan ratio and borrowing pattern: A ratio that shows you’ve taken more secured loans than unsecured loans will work in your favour.
    • Repayment history: Your previous loan and credit card repayment history will also play an important role in instilling confidence in IndusInd Bank that you will repay your personal loan.
    • Settlement history: If you’ve been unable to repay your debts / loans and have arranged for a settlements with lenders, IndusInd and other lenders will consider this behaviour and will reduce your Personal loan eligibility.

    How to increase INDUSIND Bank Personal Loan Eligibility?

    • Maintain a good mix of secured and unsecured loans. Secured loans are looked at more favourably than unsecured ones. More secured loans in your borrowing history increases your eligibility.
    • Maintain a clean credit history. Clearing your debt on time and on the terms you’ve agreed on with the lender increases your CIBIL score – and eligibility.
    • Prepayment. Settling existing loans before taking on new ones is the way to go – and banks see it this way too, as it directly increases your eligibility.
    • Don’t overleverage yourself. Taking multiple loans and paying off multiple EMIs can be troubling and will leave you with no adequate funds to take care of your livelihood. Banks will not lend to those who already have 2 – 3 loans being paid off with monthly EMIs. Having more than two active loans lowers your eligibility considerably.
    • Lower EMIs on exiting loans. Reducing EMIs on existing loans by extending the term is a way to free up more money on a monthly basis, which can be redirected towards paying off EMIs on your new IndusInd personal loan.

    FAQs on IndusInd Bank Personal Loan Eligibility

    Q. What are the age limits for individuals who wish to get a personal loan from IndusInd Bank?

    A. For salaried individuals and professionals: Between 21 years and 60 years of age.

    For self-employed people: Between 25 years and 65 years of age.

    Q. What is the level of work experience required for salaried individuals who wish to take an IndusInd Bank personal loan?

    A. Applicants must have been employed for a minimum total of 2 years and at least 1 year with the current employer.

    Q. What is the income requirement for people who wish to take an IndusInd Bank personal loan?

    A. For salaried individuals and professionals: Minimum net monthly income should be Rs.25,000.

    For self-employed individuals: Minimum annual income of Rs.4,80,000 (after tax).

    Q. Is there any collateral or guarantor required for IndusInd Bank personal loans?

    A. No, there is no security, collateral or guarantor required to avail a personal loan from IndusInd Bank.

    Q. What is the maximum loan amount that can be sanctioned through INDUSIND Bank personal loans?

    A. Loans are sanctioned up to Rs.15,00,000.

    Personal Loan Reviews

    • IndusInd Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My personal loan application was approved with IndusInd bank and the experience was good, the process was quick and i received my credit card within 2-3 days. The loan amount was for Rs 2 lacs with nominal interest rate when compared to others. Customer service was good and they responded on time.
      Was this review helpful? 0
      , noida
      Reviewed on Oct 15, 2018
    • IndusInd Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with IndusInd bank and my experience was good, the loan amount was for Rs 8.5 lacs with nominal interest rate of 12% and 1% as processing fee. Customer service was good and they followed up on time. The tenure period for this loan is 5 years.
      Was this review helpful? 1
      , visakhapatnam
      Reviewed on Oct 11, 2018
    • IndusInd Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had chosen to go with them since the interest rate which they where offering has been less when compared with the market rate. The process in getting this card has been smooth and easy and the loan amount which was provided had been satisfactory as well. There has not been any sort of processing fee or additional charges which they had made during the process.
      Was this review helpful? 2
      , bangalore
      Reviewed on Oct 10, 2018
    • IndusInd Bank Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have taken personal loan from the Indusind bank for 4.5 lakhs which is instant approval and documentation . Am not that much satisfied with the rate of interest which they have provided . They charged Rs 3000 for processing fees with the tenure period of 12 months and Rs 1000 got waived off after requesting them .Their customer service and service is good
      Was this review helpful? 1
      , bangalore
      Reviewed on Oct 07, 2018
    • IndusInd Bank Personal Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      I had chosen to go with them since they had been having the lowest interest rate when compared with the market rate, and the process in getting this loan had been smooth and easy. The loan amount which they had provided had been satisfactory and there has not been any hassle faced with them so far.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Sep 27, 2018
    • IndusInd Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I had chosen to go with them since the interest rate with them had been less when compared with the market rate and the other banks. The process in getting this loan had been smooth and quick. The loan amount which they had provided had been satisfactory and their customer support also had been responsive as well.
      Was this review helpful? 2
      , bangalore
      Reviewed on Sep 25, 2018
    • IndusInd Bank Personal Loan
      "Best Service"
      0.5 4.5/5 "Excellent!"
      My personal experience was very good with INCRED, the process was smooth and i received my loan amount in 10 days. The loan amount was for Rs 2.06 lacs with nominal interest rate when compared to others. Customer service was good with INCRED and the tenure period for this loan is 4 years.
      Was this review helpful? 0
      , kolkata
      Reviewed on Sep 25, 2018
    • IndusInd Bank Personal Loan
      "good "
      0.5 2.0/5 "Expected more"
      I got my personal loan through INDUSIND BANK , the loan process was too slow and even initially they said everything will be online but they personally visit to check the documents , it took 25days to receive the loan . They provide 300000 of loan and it is sufficient , there is no processing fee with this bank .
      Was this review helpful? 3
      , lucknow
      Reviewed on Sep 16, 2018
    • IndusInd Bank Personal Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      It has been a very good experience i had with this personal loan, and the loan amount which they had provided has been satisfactory. The interest rate which they had been charging had been higher when compared with the market rate but it was okay. Their customer support and their staff responses had been good and had helped during the process.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 12, 2018
    • IndusInd Bank Personal Loan
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      My experience was not good with IndusInd bank for personal loan, the loan amount was for Rs 2 lacs for 4 years with high interest rate in the market. Customer service was not up to the mark and their response was not good. The charges are high when compared to others.
      Was this review helpful? 0
      , kolkata
      Reviewed on Sep 12, 2018
    • IndusInd Bank Personal Loan
      "Good service"
      0.5 3.5/5 "Pretty good"
      The process took 7-10 days for confirmation and 15-20 days for the loan amount to get disbursed. The loan amount was based on my requirement and the rate of interest was nominal when compared to others. Customer service was good and their response was on time.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 12, 2018
    • IndusInd Bank Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      It was a good experience with IndusInd bank for personal loan, i received my loan amount within 1 week. The loan amount was for Rs 9.5 lacs with nominal interest rate in the market. Customer service was good and they responded on time. The tenure period for this loan is 5 years.
      Was this review helpful? 0
      , thane
      Reviewed on Sep 12, 2018
    • IndusInd Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My experience was very good with IndusInd bank for personal loan, the process was smooth and i received my loan in 10 days. The loan amount was for Rs 9 lakhs with the tenure period of 4 years and rate of interest was nominal. Customer service was good and they responded on time.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Sep 12, 2018
    • IndusInd Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My personal loan application was approved with IndusInd bank and my experience was good, the loan amount was for Rs 1 lac with the tenure period of 3 years. The process was smooth and i received my loan amount within 1 week. Customer service was good and they responded on time. The rate of interest was nominal when compared to other banks.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 12, 2018
    • IndusInd Bank Personal Loan
      "Not satified"
      0.5 2.0/5 "Expected more"
      I have taken my personal loan with INDUSIND BANK . The loan amount was 8 lakhs and the interest rate was satisfactory . The tenure period was 2 years . I am disappointed with the process and i was not asked to submit the hard copies but i was informed that the whole process is paperless. The process was delayed and the communication was not proper.
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 12, 2018
    • IndusInd Bank Personal Loan
      "good service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan through INDUSIND BANK , the tenure period is 12month . Customer support is good i can connect them easily , they are so friendly . I receive the loan within 3days the process was too quick . Rate of interest is 19.7% and it is nominal in the market .
      Was this review helpful? 0
      , new delhi
      Reviewed on Sep 12, 2018
    • IndusInd Bank Personal Loan
      "AVERAGE"
      0.5 4.0/5 "Great!"
      My loan amount was taken with INDUSIND BANK , i the services was quick , i receive my loan amount within few days i did not have to wait for long . The tenure period is 4years and processing fee they charged is 4% . The bank gave me foreclose option too but it will be applicable after 1 year.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 12, 2018
    • IndusInd Bank Personal Loan
      "GOOD SERVICE"
      0.5 5.0/5 "Blown Away!"
      I got my loan through INDUSIND BANK , they offered 700000 of loan and it is satisfactory . The bank provide preclosere option but it is applicable after 1 year and there is no hidden charges take by this bank . The processing fee is 1000 and it is nominal in the market .
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 12, 2018
    • IndusInd Bank Personal Loan
      "Not satified"
      0.5 2.0/5 "Expected more"
      My personal loan was taken with INDUSIND BANK. The loan amount was 8 lakhs and the interest rate was good . I am not happy with the service here . The process was delayed and they have taken 1 month of time for processing . The documentation was also very tedious here .
      Was this review helpful? 1
      , hyderabad
      Reviewed on Sep 11, 2018
    • IndusInd Bank Personal Loan
      "BEST SERVICE"
      0.5 5.0/5 "Blown Away!"
      I have taken my personal loan with INDUSIND BANK , they gave tenure period of 2 year . There is no hidden charges with this bank , and the loan amount is up to the mark . There is option of preclosere and it is nominal in the market and rate 0of interest is good with this bank .
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 11, 2018
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