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    We found 1 IndusInd Bank Personal Loan
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    11% - 16% Fixed
    0 Bankbazaar Exclusive
    25L Max
    1-5 years
    Response Time : Within 30 minutes
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    IndusInd Bank Personal Loan is Rated as "Great!" by 1122 Users

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    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

    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 24 Mar 2019

    Indusind Bank Personal Loan Details
    Interest Rate (Monthly reducing balance) 11% - 16%
    Processing Fees 0%
    Loan Tenure 1 to 5 years
    Pre Closure Charges Preclosure permitted after 1 year. 4% of principal outstanding (plus applicable tax)
    Guarantor Requirement No guarantor required

    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 IndusInd 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 IndusInd 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 Bank Loan on Credit Cards

    Have a credit card from IndusInd Bank? Splendid! If you have an unused credit limit on this card, you can use this limit to apply for a loan. The options that are offered under this loan product include Indus Easy Loan and Indus Easy EMI. The interest rate for this product will be similar to the rate that is charged on IndusInd Bank credit cards, which is 46% p.a. The minimum amount for this loan product is Rs.5,000. The tenure for this loan scheme ranges from 6 to 36 months.

    IndusInd Bank Loan against Shares

    Have you made investments in particular shares? You can utilise these shares when you are badly in need of money for different purposes. Whether you have invested in mutual funds, insurance policies or equity shares, you can apply for a loan against shares from IndusInd Bank. The loan quantum offered under this scheme ranges from Rs.2 lakh to Rs.20 lakh. Your interest rates for this product will range between 11% and 14% p.a. You will have to be at least 21 years to apply for this loan. The maximum age requirement is 70 years.

    Features of IndusInd personal loan

    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

    Why choose BankBazaar for IndusInd personal loan application?

    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 IndusInd 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!

    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 interest rates on IndusInd Bank personal loan?

    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.

    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.

    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.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.

    IndusInd Personal Loan FAQs

    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 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.

    3. 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.

    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?

      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.

    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 Customer Care Number

    Have a query about your personal loan from IndusInd Bank? You can get in touch with the bank instantly by calling them on their toll-free numbers. IndusInd Bank has a great customer care facility for personal loans. You may also send an email to the bank with your doubts or complaints. The bank has skilled and sincere representatives who will provide you with proficient support to clarify your doubts thoroughly. You can get instantaneous assistance to get your hassles resolved quickly. If you are a premium banking customer of IndusInd Bank, you can call on the bank’s exclusive helpline number.

    IndusInd Bank 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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