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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:
A GST rate of 18% will be applicable on banking services and products from 01 July, 2017.
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