Get a quick online personal loan up to Rs. 15 Lakhs from Indusind Bank at an attractive interest rate. IndusInd personal loan interest rates vary from borrower to borrower. The minimum interest rate offered is 10.49% p.a. and the maximum interest rate can go up to 31.50% p.a. A processing fee of 2.5% onwards will be applicable.
Interest rates for IndusInd Bank Personal Loans are comparatively lesser than those of other credit products like credit cards. Interest rates depend on the type of loan, the type of borrower, and the credit score. The interest rate varies between 10.49% p.a. to 31.50% p.a. as per your eligibility.
|Minimum ROI||10.49% p.a.|
|Maximum ROI||31.50% p.a.|
|Mean ROI||15.57% p.a.|
|Minimum APR||10.49% p.a.|
|Maximum APR||31.50% p.a.|
|Processing fee||2.5% - 3% of loan amount|
|Prepayment charges||4% of the principal outstanding|
|Loan re-booking/ rescheduling/ cancellation charges||Rs. 1,000 per event|
|Cheque/ ECS/ SI swapping charges||Rs. 500 per event|
|Payment dishonour charges||Rs. 450 per instance|
|Duplicate statement charges||Rs. 250 per instance|
|Duplicate No Dues Certificate/ duplicate amortization schedule/ photocopy of agreement & documents charges||Rs. 250 per event|
|Penal charges||Rs. 150 per EMI delay beyond 5 days|
|CIBIL report||Rs. 50 per instance per set as applicable|
|Legal charges||As per actuals|
|Stamp duty||As per State laws|
All the charges mentioned above are exclusive of applicable government taxes.
|Loan amount||Rs. 50,000 - Rs. 15 Lakhs|
|Interest Rate||10.49% - 31.50% p.a.|
|Tenure||1 - 5 years|
|Processing fee||2.5% - 3% of loan amount|
|Prepayment Charges||4% of the principal outstanding|
|Age||21 - 60 years|
|Minimum net monthly income||Rs. 25,000|
IndusInd Bank is a popular new-generation private lender which offers a lot of benefits to Personal Loan aspirants, some of which are mentioned below:
IndusInd Bank offers different kinds of Personal Loan products that can suit different kinds of requirements. They offer customised plans for term loans and overdraft facilities with convenient payment options. Below are the types of Personal Loans:
Below are the Indusind Bank personal loan eligibility criteria:
|Minimum net monthly income|
Below are the documents that IndusInd Bank will ask for:
The EMI (Equated Monthly Installment) is a very important part of the loan application process. The EMI is used by the bank to determine your eligibility as it has to fall within your disposable income limits. You also have to pay the EMI on a long-term basis, so it is imperative that you are aware of the EMI beforehand.
Manual EMI calculation can be a complicated and time consulting process. That is why EMI calculators were devised.
EMI Calculators are tools designed to calculate your EMI amount based on the factors you provide. The EMI Calculator tool can be used online to determine what EMI you can expect with the amount and tenure combination you choose. The EMI amount decreases with the increase in tenure. However, an increase in tenure can also increase the rate of Interest.
MyMoneyMantra provides an EMI Calculator tool that is easy to access through their website. You only need to visit the website of MyMoneyMantra, go to the Financial Tools section and click on the EMI Calculator tab that you see. It will open up the calculator tool, which will ask you to enter the principal amount, rate of interest, and tenure. On submitting the information, you will get the EMI amount, along with the total interest and the total amount to be repaid.
IndusInd Bank offers 24 x 7 customer care executives who can help you through the Personal Loan process. Moreover, the executives can also offer to come to your house and help you apply for the loan. Below are the customer care numbers that you can contact if you have any issues/queries while applying for the home loan.
Toll-free number: 18605005004
Chargeable customer care number: 022- 44066666
Email address for Indian customers: firstname.lastname@example.org
Email address for NRI customers: email@example.com
Now get Navi personal loan of Rs. 10,000 to Rs. 20 Lakhs at lowest interest rate starting from just 9.99% per annum. Repay in easy instalments of 3 to 72 months. The processing fee ranges from 2.5% to 6% of the sanctioned limit + GST.
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The Personal Loan approval depends on your age, amount of loan required, purpose and tenure. Apart from these factors, a good credit score is also crucial to get your Personal Loan approved.
The bank requires you to have a credit score of a minimum 750 to avail the Personal Loan. In case your credit score is lower than that, the bank may refuse your application or charge you a higher rate of interest. You can refer to the section above to see how credit score can affect interest rates. Alternatively, you can apply with a guarantor or a co-applicant with a good credit score to increase your chances of getting the loan approved.
It is not mandatory to provide security for Personal Loans. However, this can be subjective to the risk factors of the loan, your income and amount. A collateral may be required in case the bank finds that your income isn't sufficient, your credit score is poor or if the loan amount is higher. The collateral can be provided by a third-party guarantor too.
Yes, Personal Loans can be applied for any personal use. You can use the Personal Loan amount for any furnishings or repairs to your house. Also, if you apply for a Personal Loan for house-related expenses, you can also claim income tax benefits for the same.
A missed EMI payment will invite penalties/other additional charges of INR 300 for every missed payment. Also, some other charges can also be levied on the total overdue amount every year. The lender also reserves the right to take legal action on the borrower for missed/late payments. A missed EMI payment also has serious consequences on your credit score. It will lower your credit score, which will then affect any future chances of you applying for credits.