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IndusInd Bank Personal Loan EMI Calculator - Oct 2017

Last Updated 13th Oct 2017

IndusInd Bank Personal Loan Calculator

  • Get monthly EMI as low as Rs. 2,224 per lakh with IndusInd Bank now offering personal loans with loan tenure upto 60 months.
  • Lowest personal loan interest rate currently offered by IndusInd Bank is 11.99%, for which the EMI per Rs. 1 lakh loan amount comes to Rs. 4,707 for a 2 year loan and Rs. 2,633 for a 5 year loan.
  • Personal loan EMI in IndusInd Bank depends upon loan amount, repayment tenure and interest rate.
  • Apply personal loan online and get best personal loan rates.
  • Check the EMI for other tenures using the IndusInd Bank personal loan EMI calculator on this page.
Personal Loan EMI Calculator
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Personal Loan EMI Calculator IndusInd Bank

IndusInd Bank Personal Loan EMI

  • Personal Loan EMI (or equated monthly instalment) is a fixed amount of money paid by you to IndusInd Bank against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
  • IndusInd Bank offers affordable and convenient personal loans with loan EMIs as low as Rs. 2,224 per lakh for a 60 tenure and lowest rate of interest on personal loans at 11.99%.

Personal loan EMI calculator at different tenures

Personal Loan EMI for different loan amounts and tenures @ 11.99% interest rate

Loan Amount (Rs.) 2 Years 3 Years 5 Years
100,000 Rs. 4,707 Rs. 3,321 Rs. 2,224
300,000 Rs. 14,121 Rs. 9,963 Rs. 6,672
500,000 Rs. 23,534 Rs. 16,605 Rs. 11,120
1,000,000 Rs. 47,069 Rs. 33,210 Rs. 22,239
  • From the above table, it can be interpreted that for various loan amounts taken at the lowest interest rate, EMI differs for loans taken at different tenures. Your EMI is higher when you take a loan for a shorter tenure of 2 years and is higher for a longer tenure loan of 4 years.
  • Each EMI includes a component of interest payment and principal repayment. Even as EMIs remain constant, every month there is a change in proportion of interest component and principal repaid. With every EMI payment, the proportion of principal repayment in EMI keeps increasing and the interest component keeps reducing.
Use EMI Calculator to calculate your interest on personal loan at different tenure
Personal Loan EMI for Rs. 1 Lakh loan amount at lowest 11.99% interest rate offered by IndusInd Bankfor different tenures
2 years 3 years 5 years
IndusInd Bank EMI for a loan amount Rs. 1 lakh at 11.99% 4,707 3,321 2,224
Total amount you pay back to the bank including principal and interest 112,968 119,556 133,440
Interest you have to pay over loan tenure 12,968 19,556 33,440

The above table shows that EMI paid on the loan will be lower for a loan taken for a longer tenure. However, your total interest outgo is significantly higher in a long tenure loan. In the above example, if you take a Rs. 1,00,000 loan from IndusInd Bank for a period of 4 years, you pay the lowest EMI of Rs. 2,224. However, you pay an interest of Rs. 33,440 on a Rs. 1,00,000 loan.
In contrast, if you take a Rs. 1,00,000 loan from IndusInd Bank at the lowest loan rate for a period of 2 years, you pay a higher EMI of Rs. 4,707 and pay an interest of only Rs. 12,968 which is less than half of what you pay for a 4 year loan. Hence, it is advisable to choose your loan tenure wisely as longer tenure means high interest expenses.

Factors affecting IndusInd Bank Personal Loan EMI

  • Loan amount – This is the amount borrowed by a borrower from IndusInd Bank.If you apply for a higher loan amount, your monthly EMI will be high. IndusInd Bank gives a minimum loan of Rs. 50,000 which can go upto an amount of Rs. 2,500,000.
  • Interest rate - Interest rates is the rate charged by IndusInd Bank on your personal loan. Higher interest rate increases your loan EMI which will increase the total cost of the loan. Lowest interest rate offered by IndusInd Bank is 11.99%. However, it is advisable to do complete market research and compare rates online before you apply for loan.
  • Loan tenure – This is the period in which you can repay your loan in IndusInd Bank. Longer loan tenure means lower personal loan EMI. Generally, IndusInd Bank offers loan for a maximum tenure of 5 years.

IndusInd Bank Personal Loan calculator formula

P*r* (1+r)^n/([(1+r)^n]-1)

Here is an illustration of how IndusInd Bank Personal Loan EMI is calculated:

In above formula,

P = Loan amount. This can range from Rs. 50,000 to Rs. 2,500,000

r = Rate of interest per month. Current rate is 11.99%

n = tenure in month. For IndusInd Bank, this can be 60 months

Tips to decide the right amount of EMI

  • Decide the amount you need to borrow: It is important that before approaching a bank for loan, you need to estimate the amount of loan you need to borrow. Remember personal loan is an unsecured loan which can come at high interest rates and hence, it is advisable to limit your loan amount to the minimum required. Also, based on the EMI you can service, try to opt for lowest tenure of loans as long tenure loans result in huge interest outgo.
  • Review your current obligations: Before taking a loan it is advisable to do an evaluation of your current monthly expenses including any EMI obligations that you have on your current loans. The assessment will help you to estimate the amount of EMI you can pay comfortably after taking into account other obligations. Once you arrive at the EMI you can service, you can also decide on the right loan tenure.
  • Calculate your IndusInd Bank personal loan eligibility: Your personal loan eligibility is a function an assessment of your repayment capacity based on your monthly income and other fixed obligations.
    • Multiplier based loan amount eligibility - IndusInd Bank calculates your loan amount eligibility by applying a multiplier to your net take home salary. This is the simplest method for calculating a loan eligibility used by banks. The formula used in the loan amount eligibility calculation is: Loan Eligibility = (Your Net Salary) x (multiplier of 9 to 18). The multiplier depends on the bank’s internal categorization of your employer company based on its reputation, stability, size and growth in turnover.
    • FOIR based loan amount eligibility - IndusInd Bank will also estimate your Fixed Income to Obligations Ratio (FOIR) to ascertain the maximum EMI you can service based on your current income and other monthly expenses. The bank applies a certain ratio to your income to estimate your monthly expenses and then adds your other EMI obligations to calculate your fixed obligations. The proportion of fixed income to your calculated fixed obligations gives your FOIR. IndusInd Bank lends up to a maximum FOIR of 0.55. Based on the FOIR, the bank will also estimate the maximum amount of EMI you can service as a borrower. IndusInd Bank's assessment may be different from your own assessment. Any differences in assessment may require you to readjust your loan amount requirement. You may also consider paying back other running short term loans to improve your eligibility.
    • IndusInd Bank will calculate your loan amount eligibility based on the above two methods and will sanction you a lower loan amount arrived at, by the above two methods.

Quick guide on IndusInd Bank personal loan

  • Purpose of Loan: IndusInd Bank personal loan is taken to funding medical emergencies, paying additional debts, marriage expenses and other personal finance requirements.
  • Key Features
    • Loan available for both salaried and self employed.
    • Borrowers within the age group of 21 and 60 years.
    • Loan amount of minimum Rs. 50,000 to Rs. 2,500,000.
    • Loan Tenure 1 to 5 years.
    • Interest rates in the range of 11.99% to 23.00%.
    • Lowest EMI of Rs. 2,224 per lakh.
  • Processing Fees: Upto 2.50% of loan amount.
  • Special schemes: IndusInd Bank offers customised personal loan interest rates and schemes for special category of borrowers including borrowers working in reputed companies, banks or government employees etc.

Personal loan EMI calculator IndusInd Bank – How it works?

  • IndusInd Bank personal loan calculator calculates EMI considering a combination of loan amount, interest rate and loan tenure.
  • IndusInd Bank EMI calculator considers “reducing balance basis” and assumes that payment of EMI is made in arrears (means interest is charged for the month preceding the EMI payment date) and not in advance.

Personal loan EMI – EMI changes in case of prepayment

In case you prepay your personal loan, the outstanding balance on your personal loan reduces. IndusInd Bank gives you two options:

  • Reduce your loan tenure and keep EMI on your personal loan unchanged: This option allows you to close your loan earlier and save the interest outgo associated with the remaining tenure. This is suitable for borrowers who feel that they have adequate income to continue servicing the same level of EMIs.
  • Reduce the amount of EMI and keep your loan tenure same: This option allows you to reduce your monthly EMI and hence, increases the availability of monthly surplus which you can deploy for other purposes. This is suitable for borrowers who anticipate higher monthly personal expenses and hence, would want to reduce their monthly EMI obligations.

FAQs on IndusInd Bank EMI Calculator

Why should I calculate IndusInd Bank loan EMI before taking a loan?

It is advised to calculate personal loan EMI prior to taking a personal loan. There are several benefits of calculating your IndusInd Bank personal loan EMI as discussed below -

  • In case EMI comes out to be more than your monthly budget, then you have the chance to apply for a lower loan amount which fits your monthly budget and makes EMI easily affordable
  • If you already know the EMI you have to pay each month, then you can plan your spends accordingly
  • Based on the EMI amount, you can opt for making prepayment of your personal loan in future when you have surplus amount
What is the lowest EMI per lakh offered by IndusInd Bank on personal loan?

IndusInd Bank offers personal loan at 11.99% interest rate and hence lowest EMI on per lakh loan amount is Rs. 2,224. However, IndusInd Bank personal loan interest rate for salary account holders or existing customers can vary.

Can I prepay my IndusInd Bank personal loan?

IndusInd Bank offers you an option of prepayment after 12 months at 4% of outstanding principal.

Is there any processing charge on personal loan from IndusInd Bank?

Personal Loan from IndusInd Bank charges a processing fee of Upto 2.50%.

Will i get the personal loan from IndusInd Bank if i have a bad credit score?

No, for taking a loan from IndusInd Bank, an applicant must have a good credit score of 700 and above. Usually, most of the banks avoid giving loans if you have low credit score.

How does a personal loan repayment happen?

The repayment of a personal loan happens in the form of an EMI (Equated Monthly Installment) through the customer's bank account. The customer is required to present a few post dated cheques and sign an ECS mandate in favour of the bank at the time of disbursing the loan.

Can i have a co-applicant while applying for a Personal loan with IndusInd Bank?

Yes, you can opt for a co-applicant to take personal loan from IndusInd Bank that will increase your personal loan eligiblity as the income of the co-applicant is also taken into account.

Compare Personal Loan EMI of All Banks

IndusInd Bank Personal Loan EMI Calculator Customer Care Number, Email, Application Status, Branches

City Customer Care Number
Agra 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Ahmedabad 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Ambala 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Anand 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Aurangabad 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Bangalore 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Bhilai 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Bhilwara 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Bhiwadi 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Bhopal 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Bhubaneswar Cuttack 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Bikaner 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Chandigarh 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Chennai 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Cochin 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Coimbatore 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Dehradun 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Delhi 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Durg 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Faridabad 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Gandhinagar 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Ghaziabad 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Goa 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Greater Noida 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Gurgaon 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Guwahati 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Gwalior 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Hyderabad 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Indore 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Jabalpur 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Jaipur 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Jalandhar 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Jodhpur 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Kanpur 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Karnal 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Kolhapur 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Kolkata 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Kota 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Kozhikode 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Lucknow 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Ludhiana 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Madurai 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Meerut 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Mehsana 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Mohali Sas Nagar 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Mumbai 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Mussoorie 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Nagpur 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Nashik 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Noida 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Noida Extn 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Panipat 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Patna 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Pondicherry 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Pune 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Raipur 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Rajkot 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Ranchi 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Rohtak 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Roorkee 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Salem 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Shimla 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Sonepat 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Surat 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Trichy 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Udaipur 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Vadodara 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Varanasi 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Vijaywada 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Vizag 1860-500-5004/ 022-44066666, reachus [at] indusind [dot] com
Indusind Bank Personal Loan EMI Calculator

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