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IndusInd Bank 5 Lakh Personal Loan

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HDFC Bank
10 Second Disbursal*100% Digital Process*Quick Disbursal
Max Loan Amt.Upto ₹25L
Rate of Interest9.99% - 12.5%
Tenure upto1-5 Years
Processing Fee₹ 6,500
Axis Bank
Low Processing fee
Max Loan Amt.Upto ₹25L
Rate of Interest9.99% - 17.15%
Tenure uptoUpto 6 Years
Processing FeeUpto 2%
Kotak Mahindra Bank
Lowest Income requirement100% Digital Process*
Max Loan Amt.Upto ₹25L
Rate of Interest9.98% - 17.2%
Tenure upto1-5 Years
Processing Fee1.1% - 1.5%

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How Can I Apply for a Personal Loan Online?

Get up to ₹40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Features of Induslnd Bank Rs. 5 Lakh Personal Loan

  • Competitive Interest Rates: Starting from 10.35% p.a.
  • Flexible Tenure: Ranging from 12 to 48 months
  • Zero Documentation: 100% digital application for Instant personal loan
  • Collateral Free: No need for any security

IndusInd Bank Rs. 5 Lakh Personal Loan: Eligibility Criteria

For Salaried Employees
Eligibility Criteria Details (Salaried Employees – IndusInd Bank Personal Loan)
Age at Loan Application Minimum 21 years
Age at Loan Maturity Maximum 60 years or retirement age (whichever is earlier)
Minimum Net Monthly Income Rs. 25,000
Work Experience Minimum 2 years total, with at least 1 year in the current organization
Residential Stability Should be living at current residence (if rented) for at least 1 year
CIBIL Score 730 and above preferred

For Self-employed Professionals & Self-employed Individuals

Eligibility Criteria Self-employed Professionals Self-employed Individuals
Age at Loan Application Minimum 25 years Minimum 25 years
Age at Loan Maturity Maximum 65 years Maximum 65 years
Minimum Net Annual Income (after tax) Rs. 4.8 lakhs Rs. 4.8 lakhs
Professional/Business Experience At least 4 years post-qualification At least 5 years post-qualification

Apart from the documents mentioned above, the lender may also request additional documents for a personal loan as needed.

Difference between self-employed professional & self-employed individuals

Category Who It Includes
Self-employed Professionals Qualified individuals such as doctors, engineers, lawyers, chartered accountants (CAs), and MBAs who have set up their own practice or business.
Self-employed Individuals Business owners such as traders, contractors, commission agents, and others who may not hold formal educational qualifications in their line of work.

Also Read: Personal Loan for Self Employed

Documents Required for Induslnd Bank Rs. 5 Lakh Personal Loan

  • No physical documents are needed for an online personal loan.
  • Have your PAN number and Aadhaar number ready to begin your application for an online personal loan.
  • For offline personal loan applications, maintain a physical copy of identity proof, address proof, income proof, and bank statements that show salary credits.

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Fees & Charges of Induslnd Bank Rs. 5 Lakh Personal Loan

  • Processing Fees Up to 3.5% of the loan amount + GST
  • Foreclosure Charges: Allowed post 1st EMI
    • 5% of Principal Outstanding + GST, post payment of 1st EMI up to 11 EMIs.
    • 4% of Principal Outstanding + GST, after payment of 12 EMIs.
  • Payment Dishonour Charges: Rs 450/- per instance + GST
  • Penal Charges:24% p.a. + GST on total overdue
  • Loan Cancellation Fee: ₹1,000 plus GST [This is permitted after the 7th day following disbursement until the 1st EMI is due]

Also Read: Personal Loan Fees & Charges

Induslnd Bank Rs. 5 Lakh Personal Loan vs Other lenders

Lender Loan Tenure Interest Rate (p.a.)
IndusInd Bank Up to 60 months 10.35% – 16.50%
Axis Bank Up to 60 months 9.99% – 17.15%
HDFC Bank Up to 60 months 9.99% – 12.50%
Kotak Mahindra Bank Up to 60 months 9.98% – 17.20%
IDFC FIRST Bank Up to 60 months 10.50% – 20%
ICICI Bank Up to 60 months 11% – 13%
Federal Bank Up to 60 months 12.00% – 19.50%

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How Can I Apply for a Personal Loan Online?

Get up to ₹40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Explore Our Personal Loan Lenders

HDFC BANKHDFC BANKAxis BankAxis BankKotak Mahindra BankKotak Mahindra BankICICI BankICICI BankFederal BankFederal BankIDFC First BankIDFC First BankIndusind BankIndusind BankRBL BankRBL BankTata CapitalTata Capital
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FAQs

To apply for an IndusInd Bank Personal Loan of Rs. 5 Lakh, salaried individuals and self-employed professionals must meet minimum income, age, and credit score requirements.

The IndusInd Bank Rs. 5 Lakh Personal Loan interest rate usually starts from 10.35% p.a. and varies depending on your income, credit history, and repayment capacity.

You can repay your IndusInd Bank Rs. 5 Lakh Personal Loan in flexible tenures ranging from 12 months to 60 months.

You can apply for an IndusInd Bank Rs. 5 Lakh Personal Loan online by visiting the official IndusInd Bank website or trusted loan marketplaces like Paisabazaar.

The EMI for an IndusInd Bank Rs. 5 Lakh Personal Loan depends on the loan tenure and interest rate. You can use an EMI calculator to estimate monthly payments.

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