IndusInd Bank Personal Loan

Below are the key IndusInd Bank loan details:

The following are some of the attractive features and benefits of an IndusInd personal loan:

• Loan amount: The bank offers a personal loan amount between ₹30,000 to ₹5 Lakhs.
• Competitive Interest Rate: The IndusInd Bank provides attractive interest rates on personal loans starting at 10.49%.
• Flexible tenure: The bank provides a flexible personal loan tenure of 12 to 84 months (maximum 48 months for online personal loans) to its customers.
• Foreclosure facility: The bank allows personal loan foreclosure with prepayment charges of 5% of principal outstanding + GST after the first to 11th EMI payment and 4% of principal outstanding + GST after payment of 12 EMIs.
• Zero documentation: The bank promises a seamless application process with a 100% digital application. If you want an IndusInd Bank loan apply in a completely paperless process.
• No collateral/ guarantors required: You can avail of an IndusInd Bank personal loan without the need for any collateral or guarantors.

The following are the current IndusInd personal loan interest rates, along with other associated charges:

• Processing fee: Up to 3.5% of the loan amount + GST.
• Foreclosure charges: 5% of principal outstanding + GST after payment of 1st EMI up to 11 EMIs & 4% of principal outstanding + GST after payment of 12 EMIs.
• Payment dishonour charges: ₹450 per instance + GST.
• ECS/ Cheque/ SI swapping charges: ₹500 per event + GST.
• Penal charges: 24% p.a. + GST on the total overdue or ₹100 + GST (whichever is higher) per month, where EMI is overdue.
• Loan cancellation charges: ₹1,000 + GST.
• Legal charges: As per Actuals.
• Stamp duty: As per State laws.

Below is the table comparing the IndusInd Bank instant loan with personal loans of other top banks in India:

Here are the detailed IndusInd Bank personal loan eligibility criteria:

Eligibility for Salaried Employees:

• Minimum age to apply: 21 years.
• Maximum age at loan maturity: 60 years or retirement age, whichever is earlier.
• Minimum net monthly income: ₹25,000.
• Minimum employment: Should have completed at least 2 years in employment and a minimum of 1 year in the current organisation.
• Residence stability: Should have completed a minimum of 1 year of stay at the current residence, if rented.
• CIBIL score: Preferably 730 or above.

Eligibility for Self-employed Professionals and Individuals 

• Minimum age to apply: 25 years.
• Maximum age at loan maturity: 65 years.
• Minimum annual net income post tax: ₹4.8 Lakhs.
• Experience: Should have 4 years of post-qualification experience (5 years for self-employed individuals).

If you meet the above-mentioned eligibility criteria for IndusInd Bank personal loan apply with the following documents:

• No physical documentation is required for an online personal loan application.
• Just keep your PAN number and Aadhaar number ready to get started with your online personal loan application.
• For an offline personal loan application, keep the following documents ready: 

Documents for salaried individuals:

• Application form with photograph
• Proof of identity: Driving License/ Passport/ Voter’s ID/ Aadhaar Card/ PAN Card
• KYC documents: Valid identity/ residence/ signature proof
• Income proof: Form 16/ ITR for the last 3 years and the latest 3 months’ salary slips
• Banking: Latest 3 months’ Salary Credit Bank Statement.

Documents for self-employed individuals and professionals: 

• Self-employed individuals and professionals also need to provide bank statements for their Current Account and Primary Savings Account.

• Visit MyMoneyMantra's official website.
• Click on the Personal Loan tab under the Loan section.
• Fill in the details required.
• Enter your full name, 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 featuring personal loan offers of our various lending partners. You can choose your preferred personal loan lender from the list.
• You will receive a call from our loan specialists within 24 hours as soon as you have successfully applied online.

You may contact the 24/7 IndusInd Bank Contact Centre Numbers mentioned below to contact the IndusInd personal loan customer care team: 

• Within India: 18602677777
• Outside India: 022-44066666