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    We found 1 IndusInd Personal Loan Eligibility
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    11% - 16% Fixed
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    1-5 years
    Response Time : Within 30 minutes
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    IndusInd Personal Loan Eligibility is Rated as "Great!" by 1122 Users

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    Personal Loan BYTES FROM OUR KITCHEN

    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 5.0/5 "Blown Away!"
      I have taken my personal loan through INDUISND BANK , they provide nominal interest rate and processing fee is nominal . The banking process is very quick within week i got my loan amount . The tenure period is 5 year and overall experience is good . Delay in getting the loan and they said they will provide good loan amount but i juts got 700000.
      Was this review helpful? 0
      , chennai
      Reviewed on Mar 23, 2019
    • IndusInd Bank Personal Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      Indusind Bank has offers only addon loan option which am not interested. Initially it was not mentioned and completed the formalities of documentation and then later saying cannot do. Their followup was good but initially they need to check the customer requirement. I have not availed the loan from other institution.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 22, 2019
    • IndusInd Bank Personal Loan
      "Not happy"
      0.5 3.0/5 "Satisfactory"
      Indusind Bank Ltd has taken lot of time for the personal loan disbursement and they have provided me a credit card without informing terms and conditions which have not expected. The interest rate was quite competitive for the personal loan and the processing fee was zero. The loan tenure is one month.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 22, 2019
    • IndusInd Bank Personal Loan
      "Can do better in the interest"
      0.5 3.0/5 "Satisfactory"
      I just closed the loan by paying my emi with Indusind, the experience was good. But the concern about the interest it was not reasonable as per the market, it would be great if they come down in the interest part, many customer can avail their product.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 22, 2019
    • IndusInd Bank Personal Loan
      "Average"
      0.5 4.0/5 "Great!"
      I have taken my personal loan from Indusind Bank Ltd. The interest rate is 10.55% after taking the loan, I have compared in the market and found lower rate than this. They did not charge me a processing fee. The loan duration is 5 years. The documentation process was easy but disbursement takes longer than committed time.
      Was this review helpful? 0
      , thane
      Reviewed on Mar 22, 2019
    • IndusInd Bank Personal Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      It was a good process with Indusind Bank for the personal loan. They have contacted me on time and collected the paper work too. It was a on time process and as needed. The rate of interest is around 12% and the processing charges was zero. The loan provided was also as needed.
      Was this review helpful? 1
      , kolkata
      Reviewed on Mar 22, 2019
    • IndusInd Bank Personal Loan
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I have applied for Indusind Bank Personal Loan . I have not yet faced any issues . The only issue was delay in process.The agent clealry explained the process .The rate of interest was nominal and the processing fee was also nominal .The loan amount sanctioned on time. The document was adequate.The Overall Service is good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 22, 2019
    • IndusInd Bank Personal Loan
      "Average"
      0.5 4.0/5 "Great!"
      The interest rate was good and there was no processing fee. I have taken a personal loan with Indusind Bank Ltd through online. It took bit of time than the committed time. The documents are uploaded online and tenure is 5 years. The partial payment is not allowed, it would be better if they have this option.
      Was this review helpful? 0
      , thane
      Reviewed on Mar 21, 2019
    • IndusInd Bank Personal Loan
      "Faster process"
      0.5 5.0/5 "Blown Away!"
      I took my personal loan in Indusind Bank Ltd through online channel. The Interest rate was competitive without processing fee. The loan duration is 3 years. The process was immediate and got very good response. The documents are submitted online and also executive came for verification.
      Was this review helpful? 0
      , mumbai
      Reviewed on Mar 20, 2019
    • IndusInd Bank Personal Loan
      "Should be transparent and clear to the customer"
      0.5 1.0/5 "Really Bad"
      I applied for Rs. 8 lakhs of loan in Indusind bank but they approved only Rs. 5 lakhs again they increased the interest from 11 to 11.5%, I asked the reason why they increase my loan interest but they told only for Rs. 8 lakhs of principal they give 11% of interest. Its not my issue, the bank have approved only Rs. 5 lakhs, Hence I am totally disappointed with the principal amount and interest rate, infact I undergone with many difficulties on the paper work.
      Was this review helpful? 0
      , chennai
      Reviewed on Mar 18, 2019
    • IndusInd Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I taken personal loan from Induslnd bank recently approx last fifteen days I got my loan amount . My rate of interested is nominal and I am satisfied loan amount my amount is 50k and customer response is good withing five days I got my loan amount after approval .
      Was this review helpful? 1
      , ahmedabad
      Reviewed on Mar 16, 2019
    • IndusInd Bank Personal Loan
      "Good service'"
      0.5 4.0/5 "Great!"
      My personal loan was taken with INDUSIND BANK . They charge 13.25% rate of interest and it is nominal . The tenure period is 4 year . The loan amount is 2.5 lakh is satisfactory . The rate of interest is fine even processing fee nominal . The loan was provide on time and the documentation was collected on time too. I received the loan amount as expected.
      Was this review helpful? 2
      , pune
      Reviewed on Mar 13, 2019
    • IndusInd Bank Personal Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      There is no particular reason for taking the credit card of INDUSIND BANK PLATINUM AURA EDGE CREDIT CARD they have given the satisfactory credit limit also i got the loan within 15-20 days. I am not sure about the offers with this card. It is a free card.
      Was this review helpful? 0
      , mumbai
      Reviewed on Mar 12, 2019
    • IndusInd Bank Personal Loan
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      I am very fine with Indusind bank loan process, infact I was delayed because I was not there in town, the executive have followed up in a nice manner, the interest is good compared to other bank. They taken Rs. 200 as a stamp charges. But they didn't inform me earlier about this charges.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 11, 2019
    • IndusInd Bank Personal Loan
      "Need improvement on the customer care"
      0.5 4.0/5 "Great!"
      The customer support of Indusind bank is lacking, there was a delay in the response on the loan product. Indusind bank have taken more than a month to sanction the amount. The rate of interest is fine for Rs. 1 lakh, as compared to others, they sanctioned 100% of loan amount.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 11, 2019
    • IndusInd Bank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      It is a pretty good experience with Indusind Bank. I have taken a personal loan. I got the loan on time and as needed. The rate of interest is around 10% and the processing fee is zero. It would have been better if they had informed me the details about the foreclosure.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 11, 2019
    • IndusInd Bank Personal Loan
      "Its Excellent"
      0.5 5.0/5 "Blown Away!"
      My personal loan experience is excellent with Indusind bank. They just taken 15 to 17 days to sanctioned the loan amount, my principal is Rs. 8 lakhs for the tenure of 5 years, the interest is around 11.5% its competitive in the market, the bank didn't take any processing fee, they just taken only Rs.100 as document fee.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Mar 11, 2019
    • IndusInd Bank Personal Loan
      "Need improvement on the process"
      0.5 3.0/5 "Satisfactory"
      I would give only average mark of Indusind bank because first thing every time I went to their place and submitted the papers, second thing I am the one who followed it. Third thing initially they said there was no charges. And they taken Rs.2000 as insurance fee and also It took almost 13 working times, they need improvement on the loan process. The service should be professional.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 11, 2019
    • IndusInd Bank Personal Loan
      "USER FRIENDLY PORTAL TO USE"
      0.5 5.0/5 "Blown Away!"
      There is no particular reason for taking the personal loan with the INDUSIND BANK the documentation process was simple and i got the loan within 45days. The loan amount they have offered was good also the rate of interest was nominal with this loan.
      Was this review helpful? 0
      , chennai
      Reviewed on Mar 10, 2019
    • IndusInd Bank Personal Loan
      "GOOD"
      0.5 3.0/5 "Satisfactory"
      The reason for taking the personal loan with the INDUSIND BANK is that it is the good bank so i have taken. The documentation process was simple and i got the loan within 7days. The loan amount was good also the rate of interest was good with this loan.
      Was this review helpful? 0
      , lucknow
      Reviewed on Mar 10, 2019
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