A Personal Loan EMI calculator enables customers to calculate their EMI amount within no time. The borrower has to enter the following necessary information.
You get the following information within an instant.
The following information is displayed instantly.
Know in detail: Simple Interest Formula Calculation.
Customers can also use the EMI calculator available on MyMoneyMantra to know their EMI amount. The calculator works on a similar basis to that of the IndusInd Bank Personal Loan Calculator.
The IndusInd EMI consists of two variable portions, the interest repayment, and the principal repayment component. The interest repayment constituent is the highest at the start of the loan repayment tenure. It gradually reduces over the mandate as you keep repaying the EMIs on time. Similarly, the principal repayment portion increases accordingly.
Any delay in the repayment of the EMI can affect the calculation of EMI because IndusInd Bank uses the daily reducing balance method for calculating the Personal Loan Interest Rates. Besides, late payment of EMI attracts penalty, that can further affect the total repayment you end up making over the tenure.
|Type of charge||Amount of charge|
|Interest Rate||10.5% onwards|
|Processing Fees||Up to 2.50% of the personal loan amount|
Salaried persons 4% of the principal outstanding amount after repayment of 12 EMIs
Self-employed individuals 4% of the principal outstanding after repayment of 6 EMIs
|Bounce Charges||Rs 450|
|Duplicate Statement Charges||Rs 250|
|Swap Charges||Rs 500 per instance|
|Duplicate No Dues Certificate||Rs 250 per occasion|
|Duplicate Amortisation Schedule||Rs 250 per instance|
|Loan re-booking or Rescheduling||Rs 1,000 per event|
|Loan Cancellation||Rs 1,000 per instance|
|Photocopies of Documents||Rs 250 per occasion|
|Penal Charges on EMI||Rs 150 per EMI|
|Legal Charges||As per actuals|
|Stamp duty||Depends on State Laws|
|CIBIL Report||Rs 50 per instance|
Determine personal loan eligibility online. Complete the personal banking Customer Enquiry Form online to know your eligibility. This form requires you to submit details like name, address, mobile number, email ID, the personal loan product, and the state/city where you reside. On providing, the required information, IndusInd Bank marketing representatives will contact you to complete the formalities and guide you through the personal loan application process.
IndusInd Bank offers facilities to its customers to apply for personal loans online. Click on the Apply Now option and submit your details like current residence, employment type, date of birth, net income and obligations, the loan product, and personal information. The bank executives will contact you to complete the process smoothly.
Usually, banks offer asset-backed finance. They provide loans to acquire an asset. The asset financed out of bank funds remains hypothecated to the bank. The personal loan is different as the bank does not finance for a specific asset. The borrower is free to use the loan for a variety of purposes ranging from personal to business use. Generally, personal loans denote loans without collateral.
Yes, IndusInd Bank offers the following types of loans for personal and business use with collateral.
Loan against property.
Loan against Government securities.
Loan against gold ornaments.
The personal loan eligibility depends on the income-generating and repaying capacity of the borrower. IndusInd Bank provides personal loans to salaried and self-employed individuals. The bank evaluates personal loan eligibility based on monthly obligations. The borrower has to satisfy specific requirements like take-home pay norms, and so on.
The personal loans without collateral are available up to 15 lakhs. At times, the bank can decide to offer more depending on specific factors. However, loans against property and Government securities are available for higher amounts.
The traditional personal loan is repayable for 60 months. The accepted mode of repayment is the EMI.
The most comfortable method of calculating the EMI on a personal loan is to use the IndusInd personal loan EMI calculator. Enter the necessary data and get your EMI within an instant.
The interest rate range on IndusInd Bank personal loan starts from 10.5% and goes up to 30% depending on various factor. Some of the factors that affect the IndusInd Bank personal loan interest rate are,
IndusInd Bank offers floating rates of interest on personal loans. The bank has fixed-rate options for home loans.
The IndusInd Bank personal loan serves the specific purpose of calculating the personal loan EMI. One cannot enter any amount more than 15 lakhs. Similarly, the maximum loan tenure that you can enter is 60 months. Therefore, it does not serve the purpose of a home loan EMI calculator.
No, it is not possible to calculate the personal loan eligibility amount using the IndusInd Bank personal loan EMI calculator. A separate option is available for determining personal loan eligibility. Applicants can submit necessary information like name, mobile number, email id, and loan amount to find out their eligibility. However, the final eligibility depends on the documents you submit to the bank.