IndusInd Bank Personal Loan 2022

IndusInd Bank Personal Loan

IndusInd Bank offers its personal loan which can easily be availed for funding one’s education, marriage expenses, buying household furniture or electronics, renovating your home, and a lot more. In order to meet customers’ varied requirements, the bank allows its borrowers to choose from a bunch of Personal Loan being offered in multiple categories like personal Loan for Education, Personal Loan for Medical Expenses, Personal Loan for Home Renovation, Personal Loan for Wedding & Personal Loan Balance Transfer among others.

IndusInd Bank offers one of the most competitive and lowest interest rates in the entire lending community. The bank offers a rate of interest as low as 11.25% depending on a person’s overall profile and the availability of documents to support the repayment. 

Read More: IndusInd Bank Personal Loan Interest Rates

Factors That Affect Interest Rates On Personal Loan

• Net Monthly Income (Borrower)

This gives an insight about the repaying capabilities of the borrower, also the bank ensures that the amount which is being provided to the borrower would come back within the fixed tenure or not. Therefore, the calculation of the personal loan interest rates depends on the perceived risk involved in the repayment.

• Tenure of the Loan

It is amongst the very few unsaid rules of lending, whenever a credit line gets opened to a borrower, the rate of interest depends on the tenure for which the amount is being taken from the lender. In our case, the IndusInd bank personal loan if availed for a shorter period, then the Personal Loan Interest Rates would be higher and if the same personal loan is being taken for a longer period, it would attract the lower interest rate.

• Credit History of the borrower

The past records relating to the borrower, regarding the past payments of one’s credit card dues and repayments towards the loans that were taken earlier, are checked in thoroughly before approving the IndusInd Bank Personal Loan application and deciding on the personal loan interest rates. If these are found satisfactory, the best and one of the lowest interest rates are likely to be offered to the borrower for their personal loan application.

The borrower needs to fulfill the following IndusInd Bank eligibility criteria while applying for a personal loan;

• Employees of Public and Private limited companies.
• Government sector employees including PSU (Public Sector Undertakings) and State Governments.
• The minimum age requirement for IndusInd Bank personal loan application is 21 years and the maximum age is 60 years at the time of loan maturity.
• Loan Amount: The maximum amount of personal loan which can be availed is ₹ 25 Lakh.
• Salaried individuals must have completed at least 2 years of service in the same organization.

For Self-Employed Professionals –

For Self-Employed Individuals –

IndusInd Bank ensures that its customers can apply and get their loan processed without any hassle. So, the bank has finalized a list of generalized documents which are required for the documentation process of the loan application.

For Salaried Employees

For Self-Employed Professionals and Individuals

 IndusInd bank personal loan is a very exclusive and generally favored personal loan facility. You can easily finance funds for home renovation, wedding, or any other emergencies at the lowest interest rates and with some additional features and benefits as follows:

• Simple and easy documentation
• Swift and speedy disbursal
• Flexible Loan Tenure: From 12 months to 60 months
• Low-cost balance transfer facility
• All services at your doorstep
• Collateral free loan disbursement
• Expedient repayment options, either through IndusInd Bank A/c debit or ECS through another bank

Read More: IndusInd Bank Personal Loan Balance Transfer

Now you can easily evaluate and calculate your IndusInd Bank Personal Loan eligibility and EMI by using the IndusInd Bank personal loan EMI calculator at Afinoz.com. The calculator uses a simple and method-based approach to quickly calculate and determine the EMI outflow every month including the interest rate and other charges you will need to pay as part of the loan repayment.

However, for you to easily understand the basics of the loan process and the anticipated EMIs, we have prepared a table for various amounts at applicable interest rates;

Various amounts of loan taken at a rate of interest of 10.99% (effective rate of interest – 0.009% per month) for a fixed tenure of 3 years;

Comparative: -

Loan amount of ₹ 2,00,000 taken for a tenure of 12 months from various banks at competitive interest rates:

While you do your IndusInd bank personal loan apply through Afinoz, you should check the following-

1. Check your IndusInd bank personal loan eligibility with the Personal Loan Eligibility Calculator at Afinoz.com. Simply visit Afinoz.com, fill in a few easy details and get an instant and accurate assessment of your personal loan eligibility.
2. Check your IndusInd bank personal loan EMI with the personal loan EMI calculator at Afinoz.com. This will help you to know the exact amount you need to pay every month towards the repayment of your IndusInd personal loan.
3. Check the documentation for the IndusInd bank personal loan application. Whether you are salaried or self-employed, applying with the proper set of documents will enhance your chances of getting your loan approved.

All the prospective borrowers and the existing customers of the bank can raise concerns and queries with the help of the pan India toll-free number 1860 500 5004 or you can call on 022 44066666. Customers are also requested to drop an email on reachus@indusind.com in case they would like to enquire about the loans and products in detail. 

The IndusInd bank also offers a unique advantage to its customers through its Video Branch services through which it provides services like Loan Account Information, Unlocking your IndusNet account, EMI payment and many others. By providing your reference number, you can easily get the statements related to your loan account. 

More: Indusind Bank Customer Care Number

Once you apply for your IndusInd Bank Personal Loan through the means of offline or online sources, you can track the current status of your IndusInd Bank personal loan in real time through any one of the below-mentioned ways –

1. When you submit your IndusInd bank personal loan application through Afinoz online platform, A unique transaction id will be provided to you. With this id, you can track the progress of your IndusInd Bank personal loan approval at any given time
2. The Afinoz customer support team will help you track the progress of your IndusInd bank personal loan through regular SMS/email updates.
3. If you are an existing customer of IndusInd Bank then in order to check the IndusInd Bank personal loan status, you'll need to make an IndusInd Bank loan account login by entering your net banking credentials (existing).
4. If you are a non-existing customer of IndusInd Bank, then you can visit the official portal of IndusInd Bank, visit the personal loan status page, and enter your loan reference number to check your personal loan status.

Read More: IndusInd Bank Personal Loan Status

Afinoz.com is one of India's leading personalized financial marketplace. It has created a personal loan platform which lets you choose the best personal loan from the multiple options available to you. All the options are system generated taking into consideration your specific needs and requirements.

• Instant Approval – Once you fill in and submit the application form along with the mentioned documents, you will get your e-approval within 2 to 3 days.
• Real-time Application Tracking – Keep track of the application status in real-time with a unique transaction id which is generated at the time of loan application submission. We ensure that all the applicants are kept informed about their application process at each step via SMS and emails.
• Online Eligibility Check - Do all your dealings with the bank online. Provide your basic information and our online personal loan eligibility calculator will let you know the amount of loan you are eligible to borrow from IndusInd bank for your personal financing.
• 24/7 Customer Service - our experienced and well-trained customer service team will offer the best financing/investment solutions to your problems. So there's no need for you to waste time and make multiple trips to the bank to discuss loan specifications with bankers.

About the Bank

IndusInd Bank commenced its operations in the year 1994 under the premier leadership of the great visionary Mr. Srichand P Hinduja, and derive its name from one of the greatest known civilization of the ancient world – The Indus Valley. Due to their commitment towards constant innovation & proven service standards, IndusInd Bank is one of the next generation private sector banks in the country. Spreading over 683 locations across India, the bank offers commercial, transactional and electronic banking products and services. It is based out of Mumbai and its presently servicing through more than 1500 branches and over 2400 ATMs spread across the country.