IndusInd Bank Personal Loan
Based on 357 Customer Reviews
Published on: January 18, 2018
Based on 357 Customer Reviews
Published on: January 18, 2018
About the bank
IndusInd Bank was established in 1994 and is one of the next generation private sector banks in country. It is spread over 683 locations across India offering commercial, transactional and electronic banking products and services. It is a Mumbai based bank grown over 1200 branches and over 2036 ATMs spread across the country. It is also one of the banks that offer the best and international standard of products and services. The net profit of the bank was 751.61% at the Q4 of FY17.
IndusInd bank personal loan
A personal loan helps you to get over unpredicted financial crunches at any point of time. These loans are processed quickly and do not require any collateral or security. IndusInd Bank Personal Loan can be availed for funding your education, marriage expenses, buying furniture, renovating your home and lots more. In order to meet customers’ various requirements, IndusInd Bank brings to you bunch of personal loans in multiple categories like personal Loan for Education, Personal Loan for Medical Expenses, Personal loan for home Renovation, Personal Loan for weeding & Personal Loan Balance Transfer. Apply online or check out your eligibility for the best personal loan with IndusInd Bank Personal Loan Eligibility Calculator at afinoz.
What is afinoz?
Afinoz.com is India's topmost online financial marketplace for availing loans and investments. Our main objective is to make the process of getting a loan or making an investment safer, convenient and hassle-free for individuals. We work with public and private banks, NBFCs and mutual fund houses across the entire country and offer an unbiased quotation on financial products. You can contact our team to get more information or apply for a loan or investment by calling on +918795021552 or by emailing at firstname.lastname@example.org. Afinoz.com provides solutions which are quick, reliable, transparent, confidential and above all free.
IndusInd personal loan features & benefits
IndusInd bank has attractive features & benefits from easy loan approval to higher loan amount with flexible loan tenure, IndusInd bank offers its customers maximum quantum of loan depending upon their requirement & repayment history & credit score. Here are some features & benefits of IndusInd bank personal loan.
- Get a personal loan from IndusInd bank easily with simple documentation, quick processing and speedy disbursal.
- Choose flexible loan tenure as per your convenience ranging from 1 to 5 years
- Enjoy the ease of doorstep service
- Get the best in class personal loan interest rates in IndusInd bank
- No requirements of Collaterals or guarantors
- Get rid of your high-interest loan through 'Balance Transfer Option'
- Choose a convenient repayment option from IndusInd Bank account debit or ECS from your other bank.
IndusInd bank personal loan eligibility or IndusInd bank personal loan interest rates can be easily assessed through Afinoz. If there is any query about IndusInd bank personal loan application, you should log on to afinoz.com or call us on +918795021552 or mail us at email@example.com and get all the details quickly.
IndusInd bank personal loan eligibility criteria
For getting personal loan from an IndusInd bank, there are some eligibility criterion and the loan seekers who fulfill these entire parameters can only eligible for a personal loan from the bank. For instance, the bank has different criteria for a salaried individual and different for a self-employed professionals & individuals. So, eligibility criteria for IndusInd bank personal loan are as follows:
Eligibility for Salaried Employees:
- Salaried individuals eligible for IndusInd bank personal loan includes salaried doctors, salaried Chartered Accountants, employees of select Public and Private Limited companies, Government Sector employees including Public Sector Undertakings and Central, State and Local bodies
- Age limit: - Minimum age to avail personal loan from IndusInd bank at the time of application should be 21 years whereas maximum age at personal loan maturity should be 60 years or retirement age whichever is earlier.
- Income: - Minimum net monthly income of the loan applicant should be Rs.25000.
- Service: - applicant must have completed minimum 2 years in employment and minimum 1 year in the current organization.
- Residence:- applicant Should have completed minimum 1 year of stay at the current residence, if rented
Eligibility for Self-employed Professionals:
- List of individuals eligible to apply for IndusInd bank personal loan includes self-employed doctors (MBBS and higher degree), Architects, Chartered Accountants, Company Secretaries, Engineers and MBA consultants.
- Age limit: - Minimum age at the time of application should be 25 years whereas maximum age at loan maturity should be 65 years.
- Income: - Minimum annual net income post tax payment should be Rs.4.8 lakh.
- Self-employed professionals should have 4 years of post qualification experience to get under loan under IndusInd bank personal loan scheme.
Eligibility for Self-employed Individuals:
- List of individuals eligible to apply for loan under IndusInd bank personal loan scheme includes self-employed sole proprietors, directors and partners in the business of manufacturing, trading or services
- Age limit: - Minimum age at the time of Indusind bank personal loan application should be 25 years whereas maximum age at loan maturity should be 65 years.
- Income: - Minimum annual net income post tax payment should be Rs.4.8 lakh
- Loan applicant should have 5 years of post qualification experience
Eligibility and EMI calculator: Now, you can easily evaluate and calculate your IndusInd bank personal loan eligibility and IndusInd bank bank personal loan EMI amount using utility tools like personal loan eligibility calculator and personal loan EMI calculator at afinoz.com. These calculators will help you to determine your EMI outflow every month including the interest rate you will need to pay. Using the calculator at Afinoz.com is free, easy and simple.
CIBIL score: Credit score is an important factor for approval of your loan. Usually, an applicant’s credit worthiness is determined by evaluating his credit score i.e. CIBIL / EXPERIAN score. Loan applications of applicants having poor credit score may get rejected. It’s always advisable to keep on updating your credit score every now and then. If you have a bad credit score and somehow your loan application gets approved, you might be asked to pay a high rate of interest and be offered unfavorable terms and conditions on your loan as compared to someone who has an excellent credit score.
IndusInd bank personal loan documents required
IndusInd bank personal loan is an unsecured loan and there is no involvement of asset verification in the documentation process. The documents required to get a personal loan from IndusInd bank is time-saving, hassle-free if you keep the documents ready in advance.
Required documents for Salaried Employees:
- Proof of identity: Passport/driving license/voters Id/PAN card/card issued by UIDAI containing the details of name, photograph, address and Aadhar number.
- Residence proof: Leave and License Agreement/ration card/utility bill (not more than 3 months old)/valid passport (provided the passport address is present address mentioned in the loan application form)
- Proof of Income: Latest 3 months salary slip/salary certificate and latest Form 16
- Bank Statements: Latest 3 months bank account statement (where salary is credited)
Documents for Self-employed Professionals:
- Proof of identity: Passport/driving license/voters Id/PAN card/card issued by UIDAI containing the details of name, photograph, address and Aadhar number etc.
- Proof of residence: Leave and License Agreement/ration card/utility bill (not more than 3 months old)/trade license/establishment/sales tax certificate/valid Passport (provided the passport address is present address mentioned in loan application form)
- Business (Current Account) Bank Statements (latest 6 months bank account statement/passbook)
- Proof of qualification: Highest Professional Degree
- Latest 2 years ITR along with computation of income, B/S, P&L a/c with all schedules certified by a Chartered accountant.
- Profession continuity proof
Documents for Self-employed Individuals:
- Proof of Identity: Passport/driving license/voters ID/PAN card/card issued by UIDAI containing the details of name, photograph, address and Aadhar number etc.
- Proof of residence: Leave and License Agreement/ration card/utility bill (not more than 3 months old)/Trade License/establishment/sales tax certificate/valid passport (provided the passport address is present address mentioned in loan application form)
- Business (Current Account) bank statements (latest 6 months bank account/passbook)
- Latest 2 years ITR along with computation of income, B/S, P&L a/c with all schedules certified by a chartered accountant.
- Business continuity proof: Trade license/establishment/sales tax certificate.
- Additional mandatory documents: Sole proprietorship declaration/certified copy of partnership deed /certified copy of MOA, AOA and Board resolution. In case of income derived from a partnership firm, latest 2 years partnership firm's B/S, P&L a/c with all schedules certified by a chartered accountant.
Apply for IndusInd bank personal loan online at Afinoz.com. You can call us at +918795021552 or email us at firstname.lastname@example.org.You can check your eligibility and tentative EMI for IndusInd bank personal loan using our utility tools like personal loan eligibility calculator and personal loan EMI calculator. We assure you of our best services without any hassle and effort at the click of a button from the comfort of your home or office. Once you complete and submit your IndusInd bank loan application throughAfinoz.com, you can effortlessly track your loan application status on our website on a real time basis, 24x7.
|IndusInd bank personal loan interest rates|
General -Interest Rates
11.25% to 30.50%
UP TO 60 MONTHS
2.50% OF THE LOAN AMOUNT PLUS TAX APPLIED
50,000 TO 15 LAKH
21 TO 60 YEARS FOR SALARIED &
25 TO 65 YEARS FOR SELF -EMPLOYED
Salaried: 4% of the principal outstanding after repayment of 12 EMIs.
Self Employed:4% of the principal outstanding after repayment of 6 EMIs.
Special Note: Rates are subject to periodic change. Personal loan interest rates in IndusInd bank and other fees and charges are subject to regular review and can vary from customer to customer depending upon a number of factors ranging from credit score, to existing loans, amount of savings, company with which you are currently employed, number of years of relationship with IndusInd Bank etc.
Why should you apply for IndusInd bank Personal Loan through Afinoz.com?
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.
- Secure Environment - Afinoz.com has a built-in security for your personal information which is stored in a secure environment in our system with your consent. This information is then sent to the bank in an encrypted format digitally and is very secure.
- 24/7 Customer Service - At any stage of the process if you have any query or seek any financial advice, 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.
- No third-party agent – Afinoz.com online loan application process is absolutely free. Through Afinoz one can directly approach multiple banks online without involving any agent and therefore avoiding unnecessary delays and hassles.
- Free quotations – Get online deals on IndusInd bankpersonal loans and free unbiased quotes of the best personal loan rates. All you have to do is select the loan amount you want to borrow and the tenure of the personal loan. You will get a targeted online quote within minutes of application.
Query-Is itnecessary to have an account with IndusInd bank before applying for personal loans from the bank?
Reply-No, you don’t need to have an account in IndusInd for applying for personal loans in IndusInd bank, however, having an account will be helpful in making repayments and getting significant statements and details with ease.
Query-Are there any special privileges for IndusInd customers?
Reply-IndusInd Bank customers are offered special interest rates, provided priority in processing, and bugged for minimal documentation. Having an IndusInd bank account will help the bank get your financial history with ease, and offer to tailored products that best fit your needs and ability to repay without causing distress.
Query:-Can an individual apply for an IndusInd bank personal loan online?
Reply- All you require to do is to simply enter your personal and financial details on our website or you can directly contact our sales team by calling at +918795021552 or by emailing at email@example.com.
Query-Is Personal Loan calculator tools of afinoz.com are Free?
Reply -Yes afinoz.com loan calculator tools are completely free and we are not charging any fee for the services we provide.
Query-Can I know the EMI amount of my personal loan in advance?
Reply -Yes we have a unique EMI calculator tool that offers EMI breakup for all loans by entering the loan amount, tenure and rate of interest. You can compare the EMI for different loan amounts and tenures with our tool and finalize the best-suited plan for your budgets before applying for IndusInd bank personal loan.
Query-Is my data safe with afinoz.com?
Reply -Completely yes, afinoz.com does not share data with any third party other than the financial institution for the application. All data is sent with a high level of encryption making it safe and secure at all times.
Query-After applying online with afinoz.com, when will I get the loan amount and how long it will take?
Reply -Afinoz.com immediately submits your IndusInd bank personal loan application at your nearest branch. A representative from us will get in touch with you soon to collect documents like salary certificate, identity proof etc. On submitting these documents, the bank initiates verification process and checks your CIBIL score and disburses the loan if all things went well. The process may take 48 to 72 hours.
Query-What are the preclosure criteria?
Reply-Preclosure of the IndusInd bank personal loan is allowed after paying at least 12 EMIs if you are a salaried individual. In case of self-employed borrowers, foreclosure can be done on payment of at least 6 EMIs. Preclosure charges are applicable, while part-prepayment of the loan is not allowed.
Query-Do I need to produce any collateral or security?
Reply-No, personal loans are unsecured loans. You do not have to present any guarantee or security for it.
Query-What are the minimum and maximum loan amounts available from IndusInd bank?
Reply-You can get of IndusInd Personal Loans ranging from Rs. 50,000 to Rs.15 lakh depending on your eligibility criteria like credit score, borrowing history, net monthly income, nature of job and repayment capacity.
Query-What are the loan tenure options available for an individual?
Reply-You can repay your IndusInd Personal Loan easily over a flexible period ranging from 12 to 60 months.
Query-How long will it take for my Personal Loan amount to be disbursed?
Reply-your loan amount will be disbursed to your bank account within 2 to 3 working days post receipt of the required documents. All loan approvals are at the judgment of the bank.
Query-What are the options available to repay my Personal Loan from IndusInd bank?
Reply-You can pay the loan in equated monthly installments (EMIs) paid through ECS (Electronic Clearing service).If you have an account in IndusInd Bank; you can also repay through auto debit of your monthly EMI.
Query-Are there any additional charges for disbursal of a Personal Loan?
Reply-Yes, a processing fee up to 2.5% of the loan amount will be charged. Necessary documentation charges also apply. The same is deducted from the loan amount at the time of disbursal.
Query-I doesn’t have an existing account with IndusInd. Do I need to open an IndusInd Bank account for availing the loan?
Reply-It is not mandatory to have an existing account with the bank you are applying for a loan from, but having a relationship with the bank will no doubt make your banking process easier. You will also be able to take advantage of a host of other value-added services and offers with the loan.
Query-Is part-prepayment of a Personal Loan allowed?
Reply-No, part prepayment of an indusInd bank personal loan is not allowed. You either have to prepay it in full or pay it in EMIs for the specific tenure.
For any query about IndusInd bank personal loan application, you can log on to afinoz.com or give us a call at +918795021552 or mail us at firstname.lastname@example.org.