- 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 5 Lakh Personal Loan
Apply for an Induslnd Bank Rs. 5 lakh personal loan and enjoy swift approval and quick disbursal. The bank offers instant personal loan with interest rate starting at 10.35% p.a. Visit the Paisabazaar app or website and apply for a personal loan to get the best deals on your personal loan.
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Rate of Interest9.99% - 17.15%
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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
Apply Now
Features of Induslnd Bank Rs. 5 Lakh Personal Loan
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
Fees & Charges of Induslnd Bank Rs. 5 Lakh Personal Loan
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% |
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
Apply Now
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FAQs
Who is eligible for an IndusInd Bank Rs. 5 Lakh Personal Loan?
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.
What is the interest rate on an IndusInd Bank Rs. 5 Lakh Personal Loan?
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.
What is the tenure for an IndusInd Bank Rs. 5 Lakh Personal Loan?
You can repay your IndusInd Bank Rs. 5 Lakh Personal Loan in flexible tenures ranging from 12 months to 60 months.
How can I apply for an IndusInd Bank Rs. 5 Lakh Personal Loan online?
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.
What is the EMI for an IndusInd Bank Rs. 5 Lakh Personal Loan?
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.
Why should I choose an IndusInd Bank Rs. 5 Lakh Personal Loan?
Choosing an IndusInd Bank Personal Loan of Rs. 5 Lakh gives you benefits like competitive interest rates, quick approval, flexible repayment options, and minimal documentation.
Personal Loan Articles
View All ArticlesPaisabazaar is a loan aggregator and is authorized to provide services on behalf of its partners.
The APR (Annual Percentage Rate) of a personal loan is its annualised cost of borrowing, which includes the interest rate as well as the processing fees, documentation fees and other fees charged during the loan origination. The APR is expressed in the form of a percentage and thus, allows personal loan applicants to detect personal loan schemes offered at lower interest rates but with higher processing fees and/or other charges.
The APR of personal loans usually ranges between 11.29% to 35%. For example, assume that you have availed a personal loan of Rs. 5 lakhs @ 10.50% p.a. with a repayment tenure of 5 years. The processing fee charged for this loan is 1.5% of the loan amount, which amounts to Rs 7,500. Therefore, the total borrowing cost of your personal loan will be Rs 1,52,317 and its APR will be 11.16%.
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