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    IndusInd Bank Personal Loan

    We found 1 IndusInd Bank Personal Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    11.99% - 19% Fixed
    Up to ₹3000 One time fee
    25L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews

    IndusInd Bank Personal Loan is Rated as "Pretty good" by 637 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN

    IndusInd Bank Limited is a Mumbai based Indian new generation bank, with 573 branches, and 1055 ATM's spread across 392 geographic locations of the country and total revenue of 3260.47 crores. Indusind bank offer many loan schemes like Loan against property, Personal Loan, Home Loan, Car Loan, Gold Loan, Loan against Credit Card. Personal loan in Indusind bank can be obtain with simple documentation, quick processing and speedy disbursal.Read on to learn about the eligibility and documentation requirements for IndusInd personal loan


    You’re probably eligible for an Indusind Bank Personal Loan if you are

    01
    02
    03
    04
    Indusind Bank Personal Loan Minimum Age

    At least 21 years old

    Indusind Bank Personal Loan Maximum Age

    Less than 60 years old

    Indusind Bank Personal Loan Eligible Employment Type

    Salaried / Self – Employed
    with regular income

    Indusind Bank Personal Loan Minimum Income

    Earn more than the minimum
    income required


    Your Indusind Bank Personal Loan amount eligibility is based on these factors

    01
    02
    03
    Indusind Bank Personal Loan Minimum Salary

    Minimum income required
    Rs. 25,000 per month

    Indusind Bank Personal Loan Maximum Loan Funded

    Maximum allowed personal loan is Rs. 25 lakhs

    Indusind Bank Personal Loan EMI

    EMIs of other loans lower
    your eligibility


    Increase your eligible Indusind Bank Personal Loan amount by these steps

    01
    02
    Indusind Bank Personal Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

    “Indusind

    Choose longer tenure loan up to 60 Months


    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
    • 3. Processing fee cheque
    • 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

    Indusind Bank Personal Loan Interest RatesUpdated on 23 May 2017

    Indusind Bank Personal Loan Details
    Interest Rate (Monthly reducing balance) 11.99% - 19%
    Processing Fees Up to Rs.3000
    Loan Tenure 1 to 5 years
    Pre Closure Charges Preclosure permitted after 1 year. 4% of principal outstanding (plus ST)
    Guarantor Requirement No guarantor required

    IndusInd Bank Overview

    IndusInd Bank, better known as IndusInd Bank, is a private sector bank operating out of Mumbai, Maharashtra. One of the fastest growing private banks in India, IndusInd has more than 600 branches and 1200 ATMs throughout the country. It has a major presence in Mumbai, followed by New Delhi and Chennai. Apart from the national branches, IndusInd bank also has representative offices (RO) in Dubai and London.

    About Indus India personal loan

    IndusInd Bank provides Personal Loans for Indian residents in 16 cities around the country. The list of cities is as follows:

    Bangalore, Chennai, Hyderabad, Ahmedabad, Mumbai, Navi Mumbai, Pune, Thane, Chandigarh, New Delhi, Faridabad, Ghaziabad, Gurgaon, Jaipur, Kolkata, Noida.

    With the Indus India personal loan, you can fulfil your dreams right now - whether you want a long holiday, there is a marriage in the family, you are buying a gift for a special someone, or simply trying to fill up your house! IndusInd provides hassle-free and quick personal loans that will cover your needs and then some.

    Why choose Indus India personal loan?

    Established in 1994, IndusInd has seen tremendous growth over the years, and is currently planning to double its branch strength in India to more than 1200 branches. It has posted consistent profit figures through the years.

    IndusInd Bank has been acknowledged for its exceptional services by leading industry publications, media outlets, and banking and financial institutions, among others. It has been awarded the ‘Best Mid-size Bank’ by Businessworld-PwC and also by Business Today-KPMG, ‘6th Most Trusted Private Bank in India’ by Brand Trust Report, and various ‘Information Security’ and ‘Environmental Best Practices’ awards from reputed Indian and international institutions.

    IndusInd provides speedy disbursal, quick loan processing, and simple documentation in loan applications. IndusInd personal loans are available for salaried professionals, self-employed professionals, and self-employed individuals.

    • Flexible loan tenures available
    • 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

    BankBazaar is a well-established online platform for all your banking and financing needs. The site is dedicated to finding the best choices for customers in terms of loans, insurance policies, and various other related information.

    Designed by the best financial experts and with an eye toward easy accessibility for customers for their financing needs, BankBazaar provides comprehensive results and the ability to compare items side by side so that customers can check in real time the best possible solution for them. BankBazaar provides a detailed listing of all the Indus India personal loans in a dedicated page. Visitors can directly access the relevant loan pages, check eligibility, see interest rates, and also apply for loans. And the whole process of finding a loan, comparing products, and applying for the same can be completed in a matter of minutes!

    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 Indus India 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.

    A personal loan can be a lifesaver during emergencies, offering immediate financial relief to borrowers. IndusInd Bank offers personal loans for multiple purposes, with the interest on these loans decided based on two slabs: MCLR and Base Rate.

    IndusInd Bank Marginal Cost of Funds Based Lending Rate (MCLR) (For new borrowers)

    MCLR based benchmarks have been introduced by IndusInd Bank following directives from the RBI. These rates are subject to change on a regular basis, mimicking current economic conditions. The table below highlights the current rates at IndusInd Bank.

    MCLR Benchmark Tenure (Period) Benchmark Rates (MCLR)
    Overnight 9.15%
    1 month 9.20%
    3 months 9.40%
    6 months 9.65%
    1 year 9.95%

    Personal loan interest rates (MCLR)

    Interest charged by IndusInd Bank varies from case to case, with the bank typically adding a certain percentage over and above the current MCLR.

    IndusInd Bank Base and Prime Lending Rates (For existing borrowers)

    Individuals who availed a loan before MCLR benchmarks came into force can choose an interest platform as per their requirements. Those who do not wish to migrate to MCLR can continue paying interest as per the base rate.

    Base Rate 10.60% per annum, effective October 19, 2015
    Prime Lending Rate 20.60% per annum, effective October 19, 2015

    IndusInd Bank personal loan interest rate (Base Rate)

    Interest rates for existing customers depends on the loan amount, tenure and purpose, with IndusInd Bank having the power to offer differential interests based on these factors. Interest rates typically vary between 11.50% per annum and 32.00% per annum, with the average being around 14.50% per annum.

    Note: All rates mentioned above are applicable as of June 10, 2016. IndusInd Bank can modify/alter these rates at its own discretion, borrowers are advised to check prevailing rates while applying for a loan.

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

    For salaried employees

    Salaried employees, as defined by Indus India 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 &#8377 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 &#8377 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 &#8377 4.8 lakhs in net income.
    • At least 5 years of experience post the relevant qualification.

    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.30 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.

    1. 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.

    2. Where can I find the Indus India personal loan application form?

      The personal loan form from Indus India 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.

    3. Can I check my Indus India personal loan statement online?

      Indus India 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.

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

      IndusInd charges 3% of outstanding loan amount as preclosure or foreclosure charges. Foreclosure charges imply paying off the outstanding loan amount in a single go, as and when the Bank’s policies allows customers to do that.

    5. 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.

    6. 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.

    7. Are there any special privileges for IndusInd customers?

      Indus India 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.

    8. 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.

    9. How do I contact customer care for more details on IndusInd Personal Loans?

      For any details regarding personal loans from IndusInd Bank, you can call the customer support at BankBazaar at +91-44-43981800 between 10am to 7 pm from Monday to Saturday. Customers also have the option to chat with us on WhatsApp at +91-9884808231. Our trained and experienced support associates will help you out with the loan application process, and can also provide you with better options if you so seek.

    10. 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.

    11. What documents do I need to submit for personal loan applications?

      You need minimal document submissions to apply for IndusInd personal loan. The following needs to be submitted as per your respective category:

      Salaried individuals:

      • Identity proof
      • Residential address proof
      • Last 3 months payslips or salary certificate with Form 16
      • Last 3 months bank statements

      Self-employed professionals

      • Identity proof
      • Residential address proof
      • Last 6 months bank account statements
      • Proof of highest educational qualification
      • Last 2 years ITR
      • Profession continuity proof

      Self-employed individuals

      • Identity proof
      • Residential address proof
      • Last 6 months business bank statements
      • Last 2 years ITR
      • Business continuity proof
      • Sole proprietorship declaration or certified copy of the partnership deed or certified copy of AOA, MOA and board resolution
    12. What are the minimum and maximum tenures available for personal loans?

      Loans are available from a minimum tenure of 12 months up to a maximum tenure of 60 months.

    13. Can I check the personal loan application status online? Yes, you can check the status of your loan application online through the official portal of the bank. You need to enter a few details to know the current status of the application. If you have used BankBazaar’s services to apply for the loan, you can track the application status anytime on the website or you may call us up if you have any enquiries or issues.

    14. How do I repay the loan?

      The loan needs to be repaid in EMIs. The EMI figure will be informed to you and you can pay it through ECS or standing instructions in your IndusInd bank account.

    15. What are the preclosure criteria?

      Preclosure of the loan is allowed on paying at least 12 EMIs if you are a salaried borrower. In case of self-employed borrowers, foreclosure can be done on payment of at least 6 EMIs. Preclosure charges are applicable, while part-prepayment is not allowed.

    16. Do I need to produce any collateral or security?

      No, this is an unsecured loan. You do not have to submit any guarantee or security for it.

    17. How do I contact IndusInd Bank for enquiries or issues?

      You can call them up at the toll free number, send email, SMS or approach any of the branches of IndusInd Bank to sort out issues with the loan.

    IndusInd Personal Loan Diwali Offers

    Diwali is the season of shopping! You shop for different things ranging gifts, festive purchases, to expenditure on home decoration, travel; or just the seasonal splurging. Personal loans may be a good idea for most of you so that you can save your hard earned savings and yet fulfill your festive wishes. So, opt for an IndusInd Bank Personal Loan and make your Diwali celebration grand.

    IndusInd Bank is one of the most popular banks for personal loans owing to its hassle-free processing and quick disbursal. The bank allows you to take a personal with flexible loan tenures as well as repayment options. IndusInd Bank offers personal loans at an interest rate of 11.99% to 19% for a tenure of 1 to 5 years. Additionally, the bank provides doorstep services of all loan-related processes, making it a very convenient option. BankBazaar, which is the one-stop platform for all financial products also enables borrowers to apply for IndusInd Personal Loans. BankBazaar is running a Diwali Sale during which applying for a loan through the site will get you Rs.1,000 worth Amazon Gift Card and Gocash from Goibibo worth Rs.1,000. The sale period is between 6th October, 2016 and 30th October, 2016.

    Additional Reading: IndusInd Personal Loan Diwali Offers

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  • IndusInd Bank Personal Loan Reviews

    • IndusInd Bank Personal Loan
      "Better"
      0.5 4.0/5 "Great!"
      I had a very good experience with the Indusind bank and the loan amount was lesser than I expected. Customer service is an average one with the Indusind bank. I had a couple of interactions with Indusind bank and the person who came to collect the documents did not respond properly.
      Was this review helpful? 0
      , chennai
      Reviewed on May 19, 2017
    • IndusInd Bank Personal Loan
      "Supportive Service"
      0.5 5.0/5 "Blown Away!"
      Indusind bank delivered a good response for my personal loan. I had no issues with them during the loan process. Interest rate is something normal and I am comfortable with their services in all the aspects. I got good support from Indusind bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 18, 2017
    • IndusInd Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      It was a very good experience for the personal loan with INDUSIND BANK because they contacted me on time and its a pre approved loan 2.5 laks transfer to city account and rest I have The rate of interest was around 12% and the charges was 8000 rupees. EMI is approximately 18500/- for 4 years
      Was this review helpful? 0
      , bangalore
      Reviewed on May 14, 2017
    • IndusInd Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I had a good experience with Indusind Bank for the personal loan. The services are really good and the process was in a timely manner, it was as committed by them. The rate of interest was 12.75% and The processing charges was 8000 rupees It was a very good experience overall.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 14, 2017
    • IndusInd Bank Personal Loan
      "Recommendable for those who are in need"
      0.5 4.0/5 "Great!"
      With regards to my personal loan, Indusind bank delays the process very much. They told the whole process just takes 3 days, but then Indus ind took about 10 days to disburse my personal loan. The Response part and the customer support is very good with Indusind. The promised interest rate haven't implemented. They need to stick on their promise, at-least they must have informed the customer in prior, that it is an floating interest rates. The charges are nominal with Indusind bank. Over all the service is good with Indusind bank.
      Was this review helpful? 1
      , bangalore
      Reviewed on May 13, 2017
    • IndusInd Bank Personal Loan
      "Hassle free service"
      0.5 4.0/5 "Great!"
      Indusind interest rate is good when compared to other banks. Process was a bit slow, they said April 1st week would be getting my disbursement. But it happened around 23 april. My loan was Rs.10 lakhs with the tenure of five years and my EMI is Rs.23500. I am fine with that.
      Was this review helpful? 0
      , chennai
      Reviewed on May 12, 2017
    • IndusInd Bank Personal Loan
      "Fast Experience"
      0.5 5.0/5 "Blown Away!"
      Indusind provided clear information at initial stage about the loan process, its very fastest bank, when I have any issues with credit card, I could reach them within two minutes, that IVR system is good. I have taken the loan amount of 1.5 lakhs with 14% of interest and there was no processing fee.
      Was this review helpful? 0
      , kolkata
      Reviewed on May 11, 2017
    • IndusInd Bank Personal Loan
      "Its Average"
      0.5 4.0/5 "Great!"
      Indusind promised the interest rate would be 14% on personal loan but they were charged 18% of interest rate on my loan. I needed money urgently, hence I taken the loan with the same interest rate. My loan amount is Rs. 3 lakhs with the tenure of 48 months, I am happy with service.
      Was this review helpful? 0
      , gurgaon
      Reviewed on May 11, 2017
    • IndusInd Bank Personal Loan
      "They should be transparent and stick on their time"
      0.5 3.0/5 "Satisfactory"
      Indusind loan process was not upto the mark, they have taken 25 days to santion my personal loan. Initially they told sometime,finally I got something else. I have requested the amount of 10 lakhs but on the last moment they sanctioned the amount of Rs.5 lakhs I am very much disappointed with them and they took me some processing fee from my end.
      Was this review helpful? 1
      , bangalore
      Reviewed on May 10, 2017
    • IndusInd Bank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I got the personal loan with Indus ind bank. They have made a disbursement within 10 to 15 days of time. The rate of interest is high with Indus ind in concern with personal loan. I am planning to close the loan within this year, but I am not sure whether I can pre close the loan .
      Was this review helpful? 0
      , chennai
      Reviewed on May 06, 2017
    • IndusInd Bank Personal Loan
      "Better Service"
      0.5 3.0/5 "Satisfactory"
      It was not a tough situation to deal with Indusind bank when I approached them for the personal loan. They provided a better service but I cannot say that they had provided an extraordinary service but it is good. As, I received money from private sector bank I was unable to continue with INDUSIND.
      Was this review helpful? 0
      , chennai
      Reviewed on May 04, 2017
    • IndusInd Bank Personal Loan
      "Satisfactory"
      0.5 3.5/5 "Pretty good"
      Indus ind Bank has not offered a convenient process for the personal loan Initially i thought of getting personal loan from this bank but the response is really bad. I received only one call from Indusind bank. After which they did not respond and I do not know the reason. Very bad experience.
      Was this review helpful? 1
      , bangalore
      Reviewed on Apr 29, 2017
    • IndusInd Bank Personal Loan
      "No Response At All"
      0.5 1.0/5 "Really Bad"
      I have not received good response from Indusind bank for my personal loan application. Actually they informed me that they will come to my premises and collect the documents, but no one collected my documents yet. Even they closed my application without informing me.
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 28, 2017
    • IndusInd Bank Personal Loan
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      It was a very good experience for the personal loan with INDUSIND BANK because they contacted me on time and they were fast in the process, My loan got approved with in time and The rate of interest was around 13% over all processing and the insurance what they had charged was around 7000 rupees.
      Was this review helpful? 3
      , bangalore
      Reviewed on Apr 09, 2017
    • IndusInd Bank Personal Loan
      "Smooth to transact"
      0.5 5.0/5 "Blown Away!"
      Processing fee is very less with the Indusind bank when it comes to personal loan, also the rate of interest is very less. Customer service is very good one with them, also the loan amount will be get credited soon, I hope it will be by end of the day. Response provided by them was also really great.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 01, 2017
    • IndusInd Bank Personal Loan
      "Average service"
      0.5 4.0/5 "Great!"
      Very good service was given by Indus Ind executives. They were really customer concerned and very nice in their service. I could say it is an fantastic service by Indus Ind. The processing charge needs to be reduced in future. The response and the rate of interest can be decreased in future . They took around 4 days of time to disburse the loan.
      Was this review helpful? 1
      , pune
      Reviewed on Mar 31, 2017
    • IndusInd Bank Personal Loan
      "They should reduce the interest rate and processing fee "
      0.5 4.0/5 "Great!"
      I thought Indusind interest rate was around 12 to 13% but I never expected 14% including processing fee it came around 15% it high as per the market and they taken two week to complete the loan process. My loan amount was Rs.2 lakhs but they have 1.75% of process fee from my the disbursement.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 31, 2017
    • IndusInd Bank Personal Loan
      "Disappointed service"
      0.5 2.5/5 "Just OK"
      Indusind gave me 14.7% of interest on my personal loan and there is no preclosure option before 12 months, after a year they used to charge some fee for the foreclosure. Earlier they committed I could close the loan before six month but in the loan letter they updated I cant close my loan before a year. Whatever they have committed Indusind did not fulfill it.
      Was this review helpful? 1
      , bangalore
      Reviewed on Mar 30, 2017
    • IndusInd Bank Personal Loan
      "Average & be flexible in provding loans"
      0.5 3.0/5 "Satisfactory"
      I did not get to communicate much with Indusind bank for a personal loan. They contacted me and inquired about my profile and details. As soon as I informed the bank that I work for a proprietorship company, I was informed that the loan could not be processed.
      Was this review helpful? 0
      , chennai
      Reviewed on Mar 30, 2017
    • IndusInd Bank Personal Loan
      "Better Service"
      0.5 4.0/5 "Great!"
      In Indusind bank, I received a very good followup for my personal loan. Even their response is really appreciable. But the rate of interest is something higher than the other banks. The interest rate is fifteen percentage. It would be better if they reduce their rate of interest.
      Was this review helpful? 1
      , chennai
      Reviewed on Mar 23, 2017
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