IndusInd Bank Personal Loan Details

Interest rate11% p.a. onwards
Loan amountUp to Rs. 15 Lakhs
Repayment tenure1 to 5 years
Processing feeStarting from 2.5% of the loan amount + GST
Prepayment charges4% of the principal outstanding + GST
Age required21 to 60 years for salaried and 25 to 65 years for self-employed
Monthly income requiredMinimum Rs. 25,000
Lowest EMI per lakhRs. 2,174

Features of IndusInd Bank Personal Loan

  • Competitive Interest Rate: The IndusInd Bank provides attractive interest rates on Personal Loans starting at 11%.
  • Flexible tenure: The bank provides a flexible Personal Loan tenure of 1 year to 5 years to their customers. You can choose tenure as per your income, other loan obligations, monthly expenses, and repayment capacity.
  • Loan amount: The bank offers a personal loan amount between Rs. 50,000 to Rs. 15 Lakhs.
  • Prepayment facility: The bank allows prepayment of personal loan after repayment of 12 EMIs. The charges applicable for the same are 4% of the principal outstanding.
  • Flexible tenure: The loan can be repaid in tenure of 1 to 5 years.

Types of IndusInd Personal Loan

IndusInd personal loan is offered by the name of Indus Easy Credit Personal Loan. The types of loans depend on their usage. Following are the needs for which IndusInd personal loan can be used:

  • Personal Loan for Education: Fulfil your and your children’s education-related goals with this hassle-free Personal Loan.
    • Purpose: Providing financial assistance for education-related expenses.
    • Interest rate: Starts at as low as 11% p.a.
    • Loan amount: Up to Rs. 15 Lakhs
    • Tenure: 1 to 5 years
    • Security: No collateral/security is required.
  • Personal Loan for Home Renovation: Upgrade your home by renovating it to perfection with this loan.
    • Purpose: Financial assistance to redecorate or remodel a self-owned house or flat. It can help you fund expenses like repairs, furniture purchase, fixtures, etc.
    • Interest rate: Starts at as low as 11% p.a.
    • Loan amount: Up to Rs. 15 Lakhs
    • Tenure: 1 to 5 years
    • Security: No collateral/security is required.
  • Personal Loan for Medical Expenses: Fund any unexpected medical emergency through this loan.
    • Purpose: To take care of unexpected medical expenses, such as doctor’s fees, surgery, tests, hospital stay, medicine bills, treatment, etc.
    • Interest rate: Starts at as low as 11% p.a.
    • Loan amount: Up to Rs. 15 Lakhs
    • Tenure: 1 to 5 years
    • Security: No collateral/security is required.
  • Personal Loan for Wedding: With this personal loan, make your dream wedding a reality.
    • Purpose: To meet wedding related expenses, like venue booking, catering, accommodation, jewellery, gifts, honeymoon vacation, and so on.
    • Interest rate: Starts at as low as 11% p.a.
    • Loan amount: Up to Rs. 15 Lakhs
    • Tenure: 1 to 5 years
    • Security: No collateral/security is required.
  • Personal Loan Balance Transfer: With this loan, you can transfer your existing personal loan from another lender to IndusInd Bank for existing interest rates.
    • Purpose: Reducing the interest rate and EMI amount on existing loan from another lender by transferring it to IndusInd Bank.
    • Interest rate: Starts at as low as 11% p.a.
    • Loan amount: Up to Rs. 15 Lakhs
    • Tenure: 1 to 5 years
    • Security: No collateral/security is required.

IndusInd Bank Personal Loan EMI Calculation

The EMI for the IndusInd Personal Loan can be calculated using the MyMoneyMantra's online EMI Calculator. The EMI calculator uses variables like loan amount, tenure and interest rate to calculate the monthly EMI.

Below are the EMI calculations for IndusInd Personal Loan of Rs. 1 Lakh for different interest rates and tenures.

Interest RateTenure (in years)EMI per lakh (in Rs.)Total Interest (in Rs.)Total Payment (in Rs.)
11%52,17430,4551,30,455
12%42,63326,4021,26,402
13%33,36921,2981,21,298
14%24,80115,2311,15,231
15%19,0268,3101,08,310

IndusInd Bank Personal Loan Documents Required

Documents Required for Salaried Individuals

  • Identity proof: Self-attested copy of Passport/Voter’s ID/Driving License/PAN Card/Aadhaar Card (any one).
  • KYC documents: Valid identity/Residence/Signature proof.
  • Income proof: Latest Form 16 or ITR for the last 3 years, and last 3 months' salary slips.
  • Other documents: Personal loan application form with recent photograph.

Documents Required for Self-employed Professionals

  • Identity proof: Self-attested copy of Passport/Voter’s ID/Driving License/PAN Card/Aadhaar Card (any one).
  • KYC documents: Valid identity/Residence/Signature proof.
  • Income proof: Business Bank Statements/Passbook (of Current Account) for the latest 6 months, ITR of the last 2 years along with income computation, balance sheet, Profit & Loss account (certified by a CA).
  • Other documents: Personal loan application form with recent photograph, and qualification proof for highest professional degree, and proof of profession continuity.

Documents Required for Self-employed Individuals

  • Identity proof: Self-attested copy of Passport/Voter’s ID/Driving License/PAN Card/Aadhaar Card (any one).
  • KYC documents: Valid identity/Residence/Signature proof.
  • Income proof: Business Bank Statements/Passbook (of Current Account) for the latest 6 months, ITR of the last 2 years along with income computation, balance sheet, Profit & Loss account (certified by a CA).
  • Proof of business continuity: Sales tax certificate/establishment/trade license.
  • Other documents: Personal loan application form with recent photograph, a certified copy of partnership deed/sole proprietorship declaration/certified copy of Board resolution MOA and AOA.

IndusInd Bank Personal Loan Eligibility Criteria

Here are the detailed Personal Loan eligibility criteria for IndusInd Bank:

Eligibility for Salaried Employees:

  • Salaried chartered accountants, employees of private and public limited companies, salaried doctors, employees of government sector including PSUs as well as State and Central Local Bodies.
  • The minimum age when applying for the loan should be 21 years.
  • The maximum age at the time of loan maturity should be 60 years or retirement (whichever is earlier).
  • The person should have a net monthly income of minimum Rs. 25,000.
  • The applicant should have a minimum of 2 years of employment continuity and a minimum of 1 year of experience in the current job.
  • The person must be residing at the current address for minimum 1 year, if the residence is rented.

Eligibility for Self-employed Professionals

  • Architects, self-employed doctors (MBBS and higher degree), chartered accountant, engineers, MBA consultants, and company secretaries.
  • The minimum age when applying for the loan should be 25 years.
  • The maximum age at the time of loan maturity should be 65 years.
  • Minimum net income (annual) after tax deduction should be Rs. 4.8 Lakhs.
  • Minimum work experience post qualification should be 4 years.

Eligibility for Self-employed Individuals

  • Self-employed sole proprietors, partners and directors in the business of trading, manufacturing or services.
  • The minimum age when applying for the loan should be 25 years.
  • The maximum age at the time of loan maturity should be 65 years.
  • Minimum net income (annual) after tax deduction should be Rs. 4.8 Lakhs.
  • Minimum work experience post qualification should be 5 years.

IndusInd Bank Personal Loan Processing Fees and Other Charges

Types of ChargesQuantum
Processing Fee2.5% of the loan amount onwards
Prepayment Charges4% of the outstanding principal amount
Charges for Payment DishonorRs. 450 per event
Charges for Personal Loan Duplicate StatementRs. 250 per event
ECS/ Cheque / SI Swapping ChargesRs. 500 per event
Charges  for Duplicate No Dues CertificateRs. 250 per event
Duplicate Amortisation Schedule ChargeRs. 250 per event
Loan Rescheduling/ Re-Booking ChargesRs. 1,000 per event
Charges for Loan CancellationRs. 1,000 per event

Photocopy of Documents/

Agreement Charges

Rs. 250 per event
Penal ChargesRs. 150 for Per EMI delay after 5 days
Legal Charges &As per Actuals
Stamp DutyAs per State Laws
CIBIL Report Generation ChargesRs. 50 per instance for per set

*Additional GST will be applicable on all the charges mentioned above.

How to Apply for IndusInd Bank Personal Loan on MyMoneyMantra?

  • Visit MyMoneyMantra's official website.
  • Click on the Personal Loan tab under the Loans section.
  • Fill up the details required.
  • Enter your registered e-mail ID and mobile number.
  • Accept the terms and conditions and click on "show me the best offers".
  •  A new page will be displayed with Personal Loan offers of our various lending partners. You can choose IndusInd Bank Personal Loan from the list.

You will receive a call from our loan specialists within 24 hours as soon as you have successfully applied online.

IndusInd Bank Personal Loan Status Check

You can check the status of your IndusInd Bank personal loan application by calling the customer care on 18602677777 or +91 22 44066666. You can also visit the nearest bank branch to know the status. Make sure you know your application number to enquire about the loan status.

IndusInd Bank Personal Loan Repayment

You can repay your IndiusInd Bank personal loan in equated monthly instalments (EMIs) through ECS. You can also pay via standing instruction (SI) to debit your IndusInd Bank account with the EMI amount each month.

Why Apply for IndusInd Bank Personal Loan?

  • Easy and hassle-free documentation: IndusInd Bank Personal Loans involve an easy, simple and hassle-free documentation process so that you can avail funding easily.
  • Quick processing and instant disbursal: Once your documents are verified and application is approved, it does not take longer to process your loan. The funds will be disbursed into your bank account instantly, ensuring that you meet your financial goals immediately.
  • Doorstep service: The IndusInd Bank provides doorstep service for their customer's convenience. This can help you finish the application and documentation process smoothly from the comfort of your home.
  • Balance transfer option: You can transfer your existing high-interest Personal Loan from another bank to IndusInd Bank and get the benefit of low-interest rate using their Balance Transfer facility. Using this option, you can reduce the interest cost and EMIs payable for an existing loan.
  • No collateral needed: The IndusInd Bank Personal Loans are provided without any collateral or guarantor.
  • Choice of repayment options: You can repay your loan amount via auto account debit option or by choosing an electronic clearing system (ECS) from another bank.
  • EMI Calculator: Using IndusInd Bank's online EMI Calculator, you can calculate equated monthly instalments (EMIs) you need to pay for your loan even before applying for it.

IndusInd Bank Personal Loan Customer Care

You can contact IndusInd Bank for a Personal Loan through:

  • Call at the bank’s 24 hour Customer Care numbers 18602677777 or +91 22 44066666.
  • Sent Email at reachus@indusind.com
  • Send SMS "PL" to 5676757
  • You can simply walk into any of the IndusInd Bank branches in the select cities where it offers personal loans.
  • To check IndusInd Bank personal loan status, you can call on 18602677777 or +91 22 44066666.

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IndusInd Bank Personal Loan FAQs

How long will it take to get the loan amount?

Once you have successfully submitted the loan application (online or offline), the processing of and disbursal happens within 4 to 7 working days.

What should be my minimum age to get the IndusInd Bank Personal Loan?

You should be of at least 21 years of age (25 years for self-employed) to be eligible for the loan.

Are there any charges for foreclosure of the loan?

You are allowed to foreclose the loan only after serving 12 EMIs. The bank levies 4% foreclosure charges on the outstanding loan amount.

Is part prepayment of IndusInd Personal Loan allowed?

No, the IndusInd Bank does not allow part prepayment of personal loan. The personal loan either has to be prepaid in full or serviced till the contracted tenure.

Can I change the EMI repayment mode?

Yes, but you will have to give an application at the bank which states that you need to change the payment method. The charges for changing the repayment mode is Rs. 500 plus applicable taxes.

Do I need to pledge any collateral to get the loan?

No. The loan is collateral-free.

What should be my credit score to avail this loan?

The bank looks for a CIBIL score of minimum 750 to sanction your loan.

How can I apply for the loan instantly?

For quick processing and disbursal, you can apply for the loan through MyMoneyMantra.

What is the Interest Rate for the loan?

The interest rates for IndusInd Bank Personal Loan start from 11% per annum.

What is the maximum repayment tenure of the loan?

The maximum loan tenure permitted by the bank is 5 years and the minimum is 1 year.

Does the bank provide a balance transfer facility?

Yes, you can opt for Personal Loan Balance Transfer to transfer the outstanding loan amount to IndusInd Bank for the low-interest rate.

Do existing IndusInd Bank customers get any special privileges?

IndusInd Bank customers will be offered special rate of interest, asked for minimal documentation and their application will be processed on priority.