| 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
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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
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
For Self-employed Professionals
For Self-employed Individuals
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.
IndusInd Bank Personal Loan Balance Transfer Documents Required
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
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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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