Upto Rs.15 Lakhs – Induslnd Bank Personal Loan | Apply Now

Induslnd Bank is considered to be as the new-generation Indian Bank which is originally located at Mumbai, Maharashtra, India. IndusInd Bank has in total of 1500+ branches and over 2500+ ATMs located in India.

In this post, I’ll cover the details of personal loan at IndusInd Bank, eligibility, features, process, documents required, and many more.

Loan Details

Sl. No.CategoryData
1Loan amountUp to 15 Lakhs
2Interest rate11%
3Tenure1-5 years
4Age21 or above(salaried), 25 or above(self-employed)
5Processing charge2.5% + GST
6Monthly salaryMinimum Rs 25,000
7Pre-payment charge4% + GST
8Lowest EMIRs 2,174 per Lakhs

Steps to apply for personal loan at IndusInd Bank

Step-1: Decide on an amount to take loan of and then explore its repayment tenure

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Step-2: Upon deciding, submit an online application of asking personal loan with your recent passport sized photographs

Step-3: Enter the correct personal details and then submit the necessary documents

Step-4: Bank will then verify your application and will notify you within few days regarding approval of your application

IndusInd Bank loan Features

  • Tenure is very flexible up to 60 months or 5 years
  • Attractive loan amount to be taken ranges between Rs 50,000 – 15 Lakhs
  • Best interest rates
  • Well pre-payment facility

Types of IndusInd Bank Personal loan

There exist various types of personal loans at IndusInd Bank and they are mentioned as:

  1. IndusInd loan for studies
    • Fulfills the education expenses
    • Loan up to 15 Lakhs
    • Tenure up to 5 years
  2. IndusInd loan for marriages
    • Fulfills the wedding expenses
    • Loan up to 15 Lakhs
    • Tenure up to 5 years
  3. IndusInd loan for home re-decoration
    • Fulfills the renovation expenses of home
    • Loan up to 15 Lakhs
    • Tenure up to 5 years
  4. IndusInd loan for medical help
    • Fulfills the expenses of any medical urgency
    • Loan up to 15 Lakhs
    • Tenure up to 5 years
  5. IndusInd loan balance transfer
    • Transfers the existing loan into any other account
    • Loan up to 15 Lakhs
    • Tenure up to 5 years
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Induslnd Eligibility Criteria

Eligibility criteria are of three types of personal loan at IndusInd Bank. These criteria are as follows:

Induslnd for Salaried

  • Applicants must be working in reputed public/private firms
  • Age: 21 years or above
  • Monthly income: Rs 25,000 or above
  • Work experience: Minimum 2 years

For Self-employed professionals

  • Applicants must be self-employed involved in a good profession like CA, Doctors, Consultants, etc.
  • Age: 25 years or above
  • Annual income: Rs 4.8 Lakhs or above
  • Work experience: 4 years minimum

For IndusInd Self-employed Individuals

  • Applicants must be sole directors, partners, proprietors, etc.
  • Age: 25 years or above
  • Annual income: Rs 4.8 Lakhs or above
  • Work experience: 5 years minimum

Required Documentation for Induslnd

Documents that are required to verify also are of 3 types based on the profession of a person same as eligibility. They are:

For Induslnd Salaried

  1. Identity proof (Passport/Voter ID/Driving license)
  2. KYC (Residential proof/Signature proof)
  3. Salary proof (Passbook/Bank statement/ITRs)
  4. Passport sized photographs
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For Self-employed professionals

  1. Identity proof (Passport/Voter ID/Driving license)
  2. KYC (Residential proof/Signature proof)
  3. Salary proof (Passbook/Bank statement/ITRs)
  4. Passport sized photographs

For Self-employed Individuals

  1. Identity proof (Passport/Voter ID/Driving license)
  2. KYC (Residential proof/Signature proof)
  3. Salary proof (Passbook/Bank statement/ITRs)
  4. Passport sized photographs
  5. Business continuity proof (Tax certificate/Trade license)

Comparison of Induslnd Bank with other banks

Sl. No.Bank NameLoan amountInterest rates
1DBSUp to 15 Lakhs10.09-34%
2IDBIUp to 10 Lakhs14%
3DeutscheUp to 15 Lakhs9.9-11.4%
4BOIUp to 10 Lakhs8.35-10.35%
5AxisUp to 15 Lakhs10.25% onwards

Check Status

You can easily track the status of your personal loan at IndusInd Bank by clicking the below button:

Contact Details

Toll free numbers: 1860-500-5004 or 022-4406-6666

Mail-id for Indian residents: reachus@indusind.com

Mail-id for NRI applicants: nri@indusind.com

Send SMS/message: “PL” to 5676757

FAQs

1]. What credit score is needed to apply for personal loan at IndusInd?

750 CIBL is needed to apply personal loan at IndusInd.

2]. Is security or collateral required to apply for personal loan?

No collateral or security is required to avail personal loan at IndusInd.

3]. Am I able to change EMI repayment tenure period?

Yes, you can change it but the penalty charge of Rs 500 is applied.

4]. Is it necessary to open an account in IndusInd for availing personal loans?

No, it is not necessary.

5]. Are there any foreclosure charges?

Yes, bank levies up to 4% on your outstanding amount of loan.

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