IndusInd Bank Personal Loan

IndusInd Bank Personal Loan Details

Features of IndusInd Bank Personal loan

• Flexible loan tenures available
• You can avail yourself of a personal loan from IndusInd Bank with minimum physical documentation, quick processing of loan, and quick disbursal of the loan amount to your bank account.
• Avail doorstep service for loan-related processes
• Competitive interest rates
• No guarantors or collateral
• Use the ‘Balance Transfer Option’ to do away with high interest debt
• Flexible repayment gateways including ECS from any bank or through IndusInd Bank account debit

Documentation needed to Apply for an IndusInd Bank Personal Loan

1. Signed application form with photograph

2. Copy of passport/voter ID card/driving license

4. Last 3 months bank statement/6 months bank passbook

5. Documentation for salaried applicants:

• Latest salary slip
• Current dated salary certificate with the latest Form 16

6. Documentation for self-employed applicants:

• Latest Bank statement
• Latest ITR or Form 16

How to Apply through BankBazaar for IndusInd personal loan?

BankBazaar has a simple process for loan application. Visitors can start from the home page by clicking on the Personal Loan section. They will then get routed through a few simple-to-answer questions to a final results page showing all the relevant loans available from different providers including IndusInd Bank.

Visitors can then opt to compare loans or proceed with the application process. In between if they feel uncomfortable at any point of the process, visitors can simply contact BankBazaar’s customer care for assistance and information on active deals.

What are the Eligibility criteria for IndusInd personal loan?

IndusInd defines 3 categories of loan takers – Salaried, Self-employed professional, and Self-Employed individual.

For salaried employees

Salaried employees, as defined by IndusInd Bank, include chartered accountants, doctors, select private and public sector employees, PSU and central government employees, and government state and local body employees.

• Available for designated employees categorized within 21 years to 60 years of age.
• Monthly net income shouldn’t be less than Rs 25,000.
• 2 years minimum overall experience, and 1 year minimum experience in present company.
• For people availing rented accommodation, they must have resided for at least 1 year in the present residence.

For self-employed professionals

Self-employed professionals as defined by IndusInd include architects, self-employed doctors and CAs, engineers, company secretaries, as well as MBA consultants.

• Applicants’ age should be within 25 years to 65 years.
• Net annual income to be more than Rs 4.8 lakhs.
• Minimum 4 years of experience post qualification.

For self-employed individuals

Self-employed individuals include partners, directors, and sole proprietors involved in services, trading, or manufacturing businesses.

• Age of the applicant should be within 25-65 years.
• At least Rs 4.8 lakhs in net income.
• At least 5 years of experience post the relevant qualification.

Other fees and charges

How do I calculate IndusInd personal loan EMI?

Customers can find the EMI amount payable on IndusInd personal loans through BankBazaar’s dedicated Personal Loan EMI Calculator:

• Go to BankBazaar’s website and bring the mouse cursor on the Financial Tools tab given at the top. Click on Personal Loan EMI Calculator.
• Enter exact figures under the given categories, namely – Loan Amount (up to Rs.25 lakhs), Tenure (up to 5 years), Interest Rate (applicable interest rate), and Processing Fee (according to respective Bank rules).

• On clicking ‘Calculate’, customers can find all information related to the personal loan, including break-up of loan repayment and amortization figures for the chosen loan tenure.

The information displayed here will be very helpful in planning loan repayment over the chosen tenure, as well as provide you with an outline of your actual standing in terms of repayment.

IndusInd Bank Personal Loan balance transfer

If you have an existing personal loan from another lender, you can use the personal loan balance transfer facility to transfer your loan from your previous bank to IndusInd Bank. You will enjoy lower EMIs due to competitive interest rates charged on your existing loan including low processing fee thus making it easier for you to repay your loan on time and also helping you improve your credit score.

You can visit the IndusInd Bank official website, where under ‘Personal Loan’ you will be able to find the ‘Balance Transfer’ section. On clicking on it, you will be directed to a new page where you can click on ‘Apply Now’ and avail the facility by following the instructions.

IndusInd Bank registered office address

FAQs on IndusInd Bank Personal Loan

1. How to check IndusInd personal loan status?

You can check your IndusInd Bank personal loan status by calling the customer care number or contacting any of the branches closest to you.

2. How to contact IndusInd bank personal loan customer care?

You can contact IndusInd Bank through the following ways:

• Call the IndusInd bank personal loan customer care number 1860 500 5004 or 022 44066666. These numbers are available around the clock.
• Email the bank at reachus@indusind.com
• You can also walk into any of the nearest branches.

3. How do I check my loan status?

Checking your loan status is a very simple task. All you need to do is log into the official bank website with your netbanking account (if any). If you don’t have an account with the bank, then please email or call the respective branch for detailed documents.

Alternatively, you can visit the BankBazaar website and navigate to the respective bank’s dedicated personal loan page. You will find all related resources and information in this section.

4. Where can I find the IndusInd personal loan application form?

The personal loan form from IndusInd Bank can be downloaded from the official website of the bank. Alternatively, you can apply for IndusInd personal loans through BankBazaar by answering a few simple questions and providing relevant loan and other details.

5. Can I check my IndusInd personal loan statement online?

IndusInd personal loan statements can be accessed by logging into your loan or bank account in the official website. To get detailed loan statements, you will need to send a request to the bank with personal details through email or via phone calls.

6. What are the pre-closure charges and the pre-closure process?

IndusInd charges 4% of outstanding loan amount as pre-closure or foreclosure charges after paying 12 EMIs for salaried employees and after 6 EMIs installments for self-employed people. Foreclosure charges imply paying off the outstanding loan amount in a single go, as and when the Bank’s policies allow customers to do that.

7. What is the standard waiting time for approval of personal loans from IndusInd bank?

The loan processing time is generally completed within 4-7 days of receiving all the relevant document from the customer.

8. Is it absolutely necessary to have an account with IndusInd before applying for personal loans from the bank?

No, you don’t need to have an account in IndusInd for applying to personal loans, though having an account will be beneficial in making repayments and getting relevant statements and details with ease.

9. Are there any special privileges for IndusInd customers?

IndusInd Bank customers are offered exclusive interest rates, provided priority in processing, and bugged for minimal documents. Having an IndusInd account will help the bank get your financial history with ease, and offer to customized products that best fit your needs and ability to repay without causing discomfort.

10. What is the process for loan repayment?

Loan repayments have to be made in Equated Monthly Instalments (EMIs). These can be paid via ECS. Also, customers can provide standing instructions to the bank to debit the exact EMI amount every month.

11. What are the minimum and maximum amounts I can avail as personal loan from IndusInd Bank?

IndusInd offers personal loans from as low as Rs.50,000 to a high of Rs.15 lakhs. The loan amounts are decided after considering a wide range of issues such as credit history, income, age, repayment capacity etc.