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0
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10L
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20L
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30L
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40L
%
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5
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7.5
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10
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12.5
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15
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17.5
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20
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0
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1
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2
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3
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4
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5

Total EMI

49,919

Total Interest

69,80,559

Total Payments

1,19,80,559

Break-up of Loan Amount
Created with Highcharts 4.2.2 50,00,000 69,80,559 Total Interest Principal Loan Amount
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About IndusInd Bank

IndusInd Bank commenced its commercial banking operations in 1994 with a capital base of 100 crores, contributed primarily by non-resident Indians. The noted industrialist Mr Srichand Hinduja conceived the vision of IndusInd Bank and named it after the greatest civilisation in the ancient world, Indus Valley Civilisation. IndusInd Bank strives to provide the highest levels of customer satisfaction, at par with what is available worldwide. Today, the bank has more than 1000 branch offices and 1800 ATMs situated across India to serve its extensive clientele.

IndusInd Bank - Innovativeness

IndusInd Bank has several innovations to its credit, some of which are as follows.

  • Nexxt Credit Card This innovation is India's first interactive card. It allows the customer to switch between multiple payment options using LED buttons.
  • Duo Cardá IndusInd Bank is the first bank in India to come up with a debit-cum-credit card with two EMV chips and magnetic strips. Apart from the benefits of a combined statement, the card offers combined reward points, as well.
  • Banking on Alexa and WhatsAppáIndusAssist, an innovative customer service initiative enables voice-command-based financial and non-financial transactions using Alexa. The bank also takes social media banking to the next level by introducing Banking on WhatsApp.
  • Fingerprint BankingáThis feature allows mobile banking customers to use their fingerprint for accessing the app. The secure swipe option is also available as an alternative.
  • Video BrancháThis initiative enables customers to connect with a Video Branch Executive and enjoy all services such as opening FD, transferring funds, and so on.
  • Customised Account number The My Account My Number feature provides the facility of choosing a personal account number for the account.
  • Denomination SelectionáIndusInd Bank ATMs allow customers to choose the denominations they want when withdrawing from ATMs.
  • Cash on Mobile This unique feature enables card-less ATM withdrawals.

Apart from these innovative products, IndusInd Bank offers various loans and deposit products to its customers.á

IndusInd Bank - Personal Loans Features

Of all the loans listed above, the personal loan is the most popular of all. The features and benefits of the IndusInd Personal Loan are as follows.

  • Simplified documentation, fast processing, and quick disbursal
  • Apply for an IndusInd Bank personal loan online and get doorstep service
  • Easy loans without collateral up to 15 Lakhs
  • Relaxed eligibility norms
  • Flexible and convenient tenure ranging betweená1 andá5 years
  • Attractive rates of interest commencing from 11% onwards
  • Balance Transfer facility available
  • Comfortable repayment options
  • Range of purposes such as education, medical expenses, home renovations, wedding, and so on
  • Facility to check personal loan eligibility online
  • Calculate personal loan EMI online using IndusInd Bank Personal Loan EMI Calculator

IndusInd Bank Personal Loan EMI Calculator

A personal loan EMI calculator enables customers to calculate their EMI amount within no time. The borrower has to enter the following necessary information.

  • The personal loan amount
  • Rate of interest applicable to the loan
  • The repayment tenure

You get the following information within an instant.

  • Total Amount payable
  • Principal amount repayable
  • Monthly instalment
  • Total interest payable

An exampleá

  • Personal Loan Amount - 3 Lakhs
  • Rate of interest - 11.25%
  • Repayment tenure -á 60 months

The following information is displayed instantly.

  • Total Amount repayable - 3,93,612
  • The principal amount payable - 3,00,000
  • Equated Monthly Instalment - 6,560
  • Total Interest payable - 93,612

Alternate Personal Loan EMI calculating options

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.

Advantages of using the IndusInd personal loan EMI calculator

  • Easy to use
  • Requires bare minimum information
  • Get your EMI within a second
  • No question of human error
  • Know the total interest repayable over the entire tenure

Apart from the personal loan EMI calculator, IndusInd Bank offers the use of a home loan EMI calculator for determining the home loan EMI. The principle is the same, but this calculator is tailor-made for home loan EMI calculator.

IndusInd Personal Loan - The EMI concept

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. Besides, late payment of EMI attracts penalty, that can further affect the total repayment you end up making over the tenure.

IndusInd Bank Processing Fees and Other charges

Type of charge Amount of charge

Interest Rate

11% onwards

Processing Fees

Up to 2.50% of the personal loan amount

Prepayment Charges

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

450

Duplicate Statement Charges

250

Swap Charges

500 per instance

Duplicate No Dues Certificate

250 per occasion

Duplicate Amortisation Schedule

250 per instance

Loan re-booking or Rescheduling

1,000 per event

Loan Cancellation

1,000 per instance

Photocopies of Documents

250 per occasion

Penal Charges on EMI

150 per EMI

Legal Charges

As per actuals

Stamp duty

Depends on State Laws

CIBIL Report

50 per instance

IndusInd Personal Loans Details

Purpose of loan

To cater to all kinds of domestic emergencies such as

  • Medical expenses
  • Education of children
  • Marriage
  • Home renovations
  • Purchase consumer durables
  • Travel and tours, and so on

Eligibility

Salaried Employees

  • Minimum age requirement is 21 years
  • Maximum age at the maturity of the personal loan should be the retirement age of the employee or 60 years whichever is earlier
  • Minimum net salary should be 25,000
  • Service required Two years in employment with at least one year in the current job
  • Minimum of one year stay at the current residence

Self-Employed Individuals and Professionals

  • Independent professionals include doctors, engineers, Cas, architects, company secretaries, and MBA consultants
  • Other businesspersons comprise self-employed individuals
  • Minimum age should be 25 years at the time of applying for the loan
  • The maximum age at maturity should be 65 years
  • The minimum net annual income of the individual should be 4.8 Lakhs
  • Professionals can have work experience of four years, whereas other individuals should have a minimum of five years' work experience

Documents required

  • KYC ID proof (passport, Aadhar Card, Voter's ID, driving licence)
  • KYC Residential address proof (Valid proof with permanent address)
  • Income proof (Salary slips, Form 16, IT returns, Financial statements, Bank account statements, and so on)

Rate of interest

11.00% onwards

Loan tenure

One year to five years

IndusInd Bank Personal Loan -áCheckáEligibility Online

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 Personal Loan Online Application

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.

IndusInd Bank Personal Loan EMI Calculator - Frequently Asked Questions

What differentiates a personal loan from other loans?

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.

Is IndusInd Bank personal loan available with 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

How does IndusInd Bank determine the personal loan eligibility?

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.

What is the maximum amount of personal loan that a borrower can get?

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.

What is the typical tenure of a personal loan?

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.

How does IndusInd Bank charge interest on personal loans?

The interest rate range on IndusInd Bank personal loan starts from 11.25% 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 borroweráSalaried persons have a benefit over the self-employed ones
  • The income of the borroweráThe loan product requires the borrower to satisfy minimum levels of income
  • Credit ratingáGenerally, 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 bankáExisting customers of the bank get a preference in the interest rate because of their established repayment record

Does IndusInd Bank offer a floating or fixed rate of interest on personal loans?

IndusInd Bank offers floating rates of interest on personal loans. The bank has fixed-rate options for home loans.

Can you use the personal loan EMI calculator for any other purpose?

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.

Can you calculate your loan eligibility using this personal 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.