IndusInd Bank Personal Loan EMI Calculator

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.

How do you calculate the EMI on a personal loan?

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,

• Occupation of the borrower Salaried persons have a benefit over the self-employed ones
• The income of the borrower The loan product requires the borrower to satisfy minimum levels of income
• Credit rating Generally, IndusInd Bank does not grant personal loans to applicants with CIBIL rating below 750/700
• The loan amount and tenure - The longer the mandate, the higher is the rate of interest
• Existing relationship with the bank Existing customers of the bank get a preference in the interest rate because of their established repayment record

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.