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IndusInd Bank Personal Loan Balance Transfer

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Quick Disbursal

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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

IndusInd Bank Personal Loan Balance Transfer Highlights

Interest rate 10.35% p.a. onwards
Repayment tenure Up to 5 years
Processing fee Up to 3% of the sanctioned loan amount

IndusInd Bank Personal Loan Balance Transfer Interest Rates

IndusInd Bank Personal Loan Balance Transfer interest rates are not specified. That said, the IndusInd Bank Personal Loan Interest Rates for fresh borrowers start from 10.35% p.a. onwards. Similar to the personal loan balance transfer schemes offered by other banks and NBFCs, the final interest rates offered to an applicant of IndusInd Bank Personal Loan Balance Transfer may vary based on the credit score, monthly income, employer’s profile, job profile, etc.

Fees and Charges of IndusInd Bank Personal Loan Balance Transfer

Processing Fees

IndusInd Bank charges a processing fee of up to 3% of the sanctioned loan amount.

Prepayment Charges

IndusInd Bank prepayment charges for personal loan are 4% of the principal outstanding amount after repayment of 12 EMIs.

Other Fees and Charges

Payment Dishonor Charges Rs 450 per instance
Duplicate Statement Charges Rs 250 per instance
Cheque/ECS/SI/ Swapping Charges Rs 500 per event
Loan Cancellation Charges Rs 1,000 per event
Penal Charge Rs 150 per EMI delay beyond 5 days

Eligibility Criteria for IndusInd Bank Personal Loan Balance Transfer

For Salaried Employees

  • The minimum age limit of the applicant should be 21 years
  • The maximum age of the borrower at the time of loan maturity should be 60 years or the retirement age
  • Minimum net monthly income of the borrower should be Rs 25,000
  • Should have stayed at least for a year at the current residence (if rented)
  • Should have completed 2 years of employment
  • Should have worked for at least 1 year in the current organization

For Self-employed Professionals

  • Minimum age of the applicant should be 25 years
  • Maximum age at the time of loan maturity should be 65 years
  • Minimum net annual income after tax deduction should be Rs 4.80 lakhs
  • Should have experience of 4 years post qualification.

For Self-employed Individuals

  • Applicant should be at least 25 years of age
  • Borrower should be 65 years old at the time of loan maturity
  • Net annual income should be at least Rs 4.80 lakhs after-tax deduction
  • Should have at least 5 years of post-qualification experience

Additionally, IndusInd Bank may also consider the credit score of its personal loan balance transfer applicants, just like other lenders while evaluating the personal loan balance transfer eligibility of their applicants.

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IndusInd Bank Personal Loan Balance Transfer Documents Required

  • Duly filled application form with passport-sized photographs
  • Self-attested photocopy of anyone of the ID proof- Passport, Aadhaar, PAN, driving license and voter ID
  • A valid residence/ID/signature proof for KYC
  • Last 3 months salary slips/ITR for last 3 years/Form 16
  • Any other document required by the bank

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 Indusind Bank 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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