IndusInd Bank Personal Loan

IndusInd Bank offers personal loan for the following purposes:

• Education – With IndusInd Bank’s personal loan for education, fulfil your dream to pursue higher education. Study in India or abroad without worrying about the funds as the loan covers all the cost related to your course.
• Wedding – IndusInd Bank personal loan for wedding ensures that your wedding costs are well covered. It is flexible enough to incorporate your various wedding expenses pertaining to jewellery, clothing, decoration, catering, etc. as per your requirements.
• Home Renovation – Home renovations can amount to a huge sum of money. To help you with the same, IndusInd Bank offers personal loan for home renovation. The bank offers competitive interest rates on the loan amount and also flexible repayment options so you can repay the loan without any hassles.
• Medical Emergencies – Unplanned medical expenses can put a lot of pressure on you financially. In such a situation, availing IndusInd personal loan for medical purpose will help you deal with the unexpected blow. The loan covers doctor’s fees, medical bills, hospital stay, procedure and surgery, and other charges.
• Balance Transfer – With IndusInd Bank’s personal loan for balance transfer, reduce the burden of your existing loan. IndusInd Bank offers personal loan at attractive interest rates which will allow you to lower your EMIs. You can also get top-up amounts to meet your financial needs.

IndusInd Bank offers customers personal loans ranging from Rs. 50,000 to Rs. 15 lakhs at the most competitive interest rates. Personal loan from this bank is popular among people due to the following features and benefits:

• Easy, simple and hassle-free documentation: With a very effortless and trouble free documentation, Induslnd Personal Loans is customer-friendly.
• Doorstep service: With IndusInd Bank’s doorstep service, applying for personal loan is simpler and more convenient.
• Attractive personal loan interest rates: Get IndusInd Personal Loan at the most competitive interest rates.
• Does not require security/collateral/guarantor: Induslnd Personal Loans are unsecured loans and do not require any collaterals or guarantors.
• Flexible personal loan tenure: IndusInd Personal Loan tenure ranges from 1 to 5 years. Choose the loan tenure that suits you best.
• Balance transfer facility: The bank offers ‘Balance Transfer Option‘ to help you get rid of your high-interest debt.
• Convenient loan repayment option: IndusInd Bank lets you repay your loan amount from IndusInd Bank account or from other bank accounts.

The common set of documents required to apply for IndusInd Bank Personal Loans are:

Documents Required for Salaried Employees:

• Signed personal loan application form
• A copy of the proof of your identity (Passport/driving license/voters ID/PAN card/Aadhaar card)
• A copy of the proof of your residence (Lease and License Agreement /utility bill (not more than 3 months old)/valid passport – provided the passport address is present address mentioned in the application form)
• A copy of the proof of your income (Latest 3 months salary slip/salary certificate and latest Form 16)
• A copy of latest 3 months bank statements of the account in which your salary is credited

Documents Required for Self Employed Professionals:

• Signed personal loan application form
• A copy of the proof of your identity (Passport/driving license/voters ID/PAN card/Aadhaar card)
• A copy of the proof of your residence (Leave and License Agreement/utility bill (not more than 3 months old)/trade license/establishment/sales tax certificate/valid passport – provided the passport address is present address mentioned in the application form)
• Business (Current Account) Bank Statements (latest 6 months bank statement/Passbook
• A copy of the proof of your qualification (a copy of the highest professional degree)
• Latest 2 years ITR along with computation of income, B/S, P&L a/c with all schedules certified by a CA
• A copy of the documents that prove the profession continuity

Documents Required for Self Employed Individuals:

• Signed personal loan application form
• A copy of the proof of your identity (Passport/driving license/voters ID/PAN card/Aadhaar card)
• A copy of the proof of your residence (Lease and License Agreement /utility bill (not more than 3 months old)/trade license/establishment/sales tax certificate/valid passport – provided the passport address is present address mentioned in the application form)
• Business (Current Account) Bank Statements (latest 6 months bank statement/Passbook
• Latest 2 years ITR along with computation of income, B/S, P&L a/c with all schedules certified by a CA
• A copy of the documents that prove your business’ continuity (Trade license/establishment/sales tax certificate)
• A copy of additional mandatory documents (Sole proprietorship declaration/certified copy of partnership deed /certified copy of MOA, AOA and Board resolution. In case of income derived from a partnership firm, latest 2 years partnership firm’s B/S, P&L a/c with all schedules certified by a CA)

IndusInd Bank Personal Loan Eligibility Criteria:

Banks have an array of considerations on the basis of which they sanction loan to their customers. Some of the factors on the basis of which IndusInd Bank accepts your loan application are listed as follows:

Personal Loan Eligibility for Salaried Employees

The category of salaried employees includes salaried doctors and salaried CAs, employees of select public and private companies and government employees. The IndusInd personal loan eligibility criteria for salaried employees are:

• Minimum age of the loan applicant at the time of loan application should be 21 years.
• Maximum age of the loan applicant at personal loan maturity should be 60 years or retirement age, whichever is earlier.
• Minimum net monthly income of the loan applicant should be Rs.25,000
• The loan applicant should have minimum 2 years of work experience and minimum 1 year of work experience in the current organisation
• In case of rental residence, the loan applicant should have completed minimum 1 year of stay at the current residence

Personal Loan Eligibility for Self-employed Professionals

The category of self-employed professionals includes doctors (MBBS and Higher Degree), Architects, Chartered Accountants, Company Secretaries, Engineers and MBA consultants. The IndusInd personal loan eligibility criteria for self-employed professionals are:

• Minimum age of the loan applicant at the time of loan application should be 25 years
• Maximum age of the loan applicant at loan maturity should be 65 years
• Minimum annual net income of the loan applicant post-tax should be Rs. 4.8 Lakh
• The loan applicant should have at least 4 years of post-qualification experience

Personal Loan Eligibility for Self-employed Individuals:

The category of self-employed individuals includes self-employed sole proprietors, directors and partners in the business of manufacturing, trading or services. The IndusInd personal loan eligibility criteria for self-employed individuals are:

• Minimum age of the loan applicant at the time of loan application should be 25 years
• Maximum age of the loan applicant at loan maturity should be 65 years
• Minimum annual net income of the loan applicant post-tax should be Rs. 4.8 Lakh
• The loan applicant should have at least 5 years of post-qualification experience

Besides the listed eligibility criteria, banks might also consider your credit score, on-going financial liabilities for loan approval.

Visit Paisabazaar.com website to apply for IndusInd personal loan as at this platform the loan application process is quick, easy and convenient. To submit your IndusInd Bank personal loan application, follow these steps:

Step 1. Enter your personal details about your monthly income, mobile number, desired loan amount, residing city, and email ID.

Step 2. Enter details such as your name, date of birth, organisation name, and current loan EMI amount (if any) for eligibility check.

Step 3. From the list of personal loan offers (for which you are eligible), compare and choose one that best suits your requirements.

Step 4. Fill out the remaining details such as PAN details, personal details, residential address, employer details, office address and references to get an e-Approval.

Once you are done with the last step, you will get an instant conditional e-Approval from the bank. From there onwards Paisabazaar’s team will take you through the entire process.

An alternative method to apply for IndusInd Personal Loan is through the bank itself. For online application, you can fill out the loan application form available at the website. For offline application, you can visit their nearest IndusInd Bank branch to complete the application process for personal loan.

Personal Loan EMI Calculator

Before you apply for personal loan, it is important to have a definitive loan amount in mind. On the basis of the amount that you intend to borrow, calculate the loan EMI (Equated Monthly Instalment). Calculating EMI before applying for personal loan can do wonders for you. It not only ensures that your monthly budget is not stretched but also reduces the chances of defaulting on your loan.

Calculating the EMI amount that suits your budget is a tedious task and should be best left to Personal Loan EMI Calculator. Paisabazaar’s Personal Loan EMI Calculator helps you identify the right amount you need to borrow and the interest amount you will be required to pay during the loan tenure. It also helps you figure out the best-suited loan tenure.

How Paisabazaar’s Personal Loan EMI calculator works?

Paisabazaar’s Personal Loan EMI Calculator calculates EMI for Personal Loan on the basis of inputs given by you. The EMI Calculator asks for the following details:

• Loan Amount
• Loan Tenure
• Interest Rate

On entering the above details, the EMI calculator will instantly show you the results.

IndusInd Bank customers in India can use the following contact details to get in touch with the bank representatives: