IndusInd Bank Personal Loan Interest Rate Calculator - Jan 2017

IndusInd Bank Personal Loan Interest Rates

Last Updated 18th Nov 2016
Salaried Self Employed
Interest Rate 11.49% - 19.00% 14.00% - 23.00%
Lowest EMI Rs. 2,199 per lakh Rs. 2,327 per lakh
Loan Tenure From 12 months to 60 months From 12 months to 60 months
Loan Amount Min Rs. 50,000 and Max Rs. 1,500,000 Min Rs. 50,000 and Max Rs. 1,500,000
Processing Fee 0.25% to 2%
Age Min 23 years and Max 60 years Min 25 years and Max 65 years
Prepayment Charges Not allowed Not allowed
Foreclosure Charges Allowed after 12 EMI's, prepayment charges may apply Allowed after 12 EMI's, prepayment charges may apply
Apply Personal Loan Online @11.29%*
 Salaried   Self Employed - Professional   Self Employed - Business 





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IndusInd Bank Personal Loan

IndusInd Bank gives the facility of personal loan to the people who want money to achieve their urgent requirements. There are some features and benefits of taking personal loan from IndusInd Bank:
  • Balance transfer facility
  • Simple documentation and conditions
  • Reasonable interest rates
    • IndusInd Bank has been rated 4/5.0 by customers for its service quality on MyLoanCare
    • IndusInd Bank has over 385 branches in India where you can avail service
    • IndusInd Bank offers special schemes and discounts for employees of large companies.
    Personal Loan interest rates in IndusInd Bank depends upon
    • Loan amount: Personal loan rate in IndusInd Bank depends upon the amount you apply for. Higher the loan amount, lesser will be the interest rate
    • Company where you work: IndusInd Bank has a list of companies to which they lend personal loan. Interest rate will be less if your company is listed
    • Your Salary: Income helps you in determining your rate of interest. IndusInd Bank interest rate varies with your monthly income. Higher the income, less will the rate of interest
    Popular Products:
    • Personal Loan for Home Renovation
    • Personal Loan for Salaried Professionals
    • Loan for Meeting Personal Requirements

    IndusInd Bank Personal Loan Eligibility

    Eligibility of personal loan in SBI relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are
    • Age: Age plays an important role to know your eligibility and repayment capacity. IndusInd Bank offers personal loan to salaried individuals who are atleast 23 years old at the time of loan approval and maximum 60 years at the time of loan maturity. Self employed individuals with age of atleast 25 years and maximum 65 years at the time of loan maturity can apply for personal loan from IndusInd Bank
    • Income: IndusInd Bank Loan eligibility significantly depends upon your income. Usually bank set minimum levels of income to apply for personal loan. IndusInd Bank asks for net monthly income of minimum Rs. 25,000.
    • Job stability and Profession: Job stability is important to improve your status and eligibility for personal loan from IndusInd Bank. In case you are salaried, you must be in a full time job for at least 24 months of which not less 1 months must be with your current company. In case you are self-employed, you must be in current profession or business for at least 5 years and should preferably own either your office or your place of residence. Minimum turnover and minimum net income criteria may apply. Other than job stability, profession is also an important factor which can affect your IndusInd Bank eligibility. If you are working with a reputed company, probability of getting personal loan from IndusInd Bank increases as the income is considered to be more stable and bank offers low interest personal loan to the employees of reputed companies
    • CIBIL Score: Your past CIBIL history and repayment record of existing loans and credit cards has direct impact on your personal loan eligibility. If you have a poor repayment record, then you may not get the loan but on the other side, a regular repayment record increases your personal loan eligibility.
    • Loan Amount: IndusInd Bank gives you personal loan depending upon your income. IndusInd Bank gives you an amount ranging from Rs. 50,000 to Rs. 1,500,000. To improve chances of approval, apply for a loan amount that you can comfortably service.

    IndusInd Bank Personal Loan EMI

    Personal Loan EMI of IndusInd Bank is a fixed amount that you pay each month towards the repayment of your personal loan till the end of tenure. Lowest EMI offered by IndusInd Bank is Rs. 2,199 per lakh loan amount at lowest personal loan interest rate of 11.49%. Personal Loan EMI of IndusInd Bank depends on factors like:
    • Rate of interest is an important factor which affects your EMI. Higher the interest rate, higher will be the EMI
    • Loan tenure matters equally as longer tenure reduces your monthly EMI per lakh
    • Your EMI depends upon the amount of loan you are going to borrow. Loan EMI will be high if you apply for a high loan amount

    Documents Required for IndusInd Bank Personal Loan

    Personal loan IndusInd Bank documents for Salaried employees

    • Filled up loan application form
    • 1 Passport Size Photo
    • Copy of Income Tax PAN
    • Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Income Documents – 3 months payslip, 1 years Form 16, 3 months bank statement showing salary credit and any EMI debit

    Personal loan IndusInd Bank documents for Self-Employed

    • Filled up loan application form
    • 1 Passport Size Photo
    • Copy of Income Tax PAN
    • Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Income Documents – 2 years audited financials, 6 months bank statement
    • Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof

    Fee and Charges on Personal Loan IndusInd Bank

    Foreclosure Charges- These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. IndusInd Bank allows prepayment of personal loan after paying 12 EMI’s with prepayment charges may apply
    Processing Fee- IndusInd Bank asks for a processing fee of 0.25% to 2% of loan amount with applicable service tax

    IndusInd Bank Personal Loan Top up, Transfer

    • IndusInd Bank offers personal loan balance transfer from another bank. This is subject to your meeting other eligibility criteria of IndusInd Bank
    • You can avail additional top-up personal loan from IndusInd Bank, subject to your eligibility
    Illustration on Personal Loan IndusInd Bank
    Maximum Annual Percentage Rate (APR) 11.89% to 19.4%
    Representative example of the total cost of the loan, including all applicable fees
    Here is an illustration of the total cost of the loan:
    • Total amount borrowed: Rs. 100,000
    • Time period: 12 months to 60 months
    • IndusInd Bank Personal Loan Interest Rate: 11.49% to 19.00%
    • Processing Fee payable to IndusInd Bank: Upto Rs. 2,000. Current offer for processing fee is 0.25% to 2%
    • Fee payable to MyLoanCare: NIL
    • Total Monthly Cost – From Rs. 2,199 for a 60 months Rs. 100,000 loan at 11.49% (lowest rate, longest time period) to Rs. 9,216 for a 12 months Rs. 100,000 loan at 19.00% (highest rate, shortest time period). This is inclusive of principal repayment.
    • Annual Percentage Rate (APR) of charge including all applicable fees: 11.89% to 19.4%
    • Total cost payable over loan tenure: Rs. 12,588 for 12 months loan to Rs. 33,926 for 60 months loan
    IndusInd Bank’s terms and conditions as per loan agreement applicable. Short term loans/ pay day loans not available; minimum loan tenure - 12 months. Rate of interest depends upon company categorization, income, job stability, loan amount, CIBIL score, credit profile, existing obligations, verification and other factors. Credit at sole discretion of IndusInd Bank.

    Compare Personal Loan Interest Rates of IndusInd Bank with other banks

    Frequently Asked Questions on IndusInd Bank Personal Loan

    How much interest is charged by IndusInd Bank on personal loan?

    IndusInd Bank offers an interest of 11.49% to 19.00% on personal loan.

    What is the lowest EMI per lakh on IndusInd Bank personal loan?

    If you apply for a personal loan from IndusInd Bank, your lowest EMI per lakh will be Rs. 2,199.

    What is the minimum and maximum tenure of IndusInd Bank personal loan?

    You can repay your personal loan from IndusInd Bank in a flexible period of minimum 12 months to maximum 60 months.

    How much personal loan amount I can borrow from IndusInd Bank?

    IndusInd Bank offers you personal loan if you need a minimum amount of Rs. 50,000 to a maximum amount of Rs. 1,500,000.

    How much processing fee is charged by IndusInd Bank on personal loan?

    IndusInd Bank charge a processing fee of 0.25% to 2% with applicable service tax.

    Is age an eligibility factor to get personal loan from IndusInd Bank?

    Yes, age is an important eligibility factor to get IndusInd Bank personal loan as you should be at least 23 years old at loan approval time and 60 years old at loan maturity time.

    Are there any prepayment charges on IndusInd Bank personal loan?

    You can take personal loan from IndusInd Bank with prepayment charges may apply.

    Can I add my spouse’s income while applying for personal loan from IndusInd Bank?

    You can combine your income with the income of your spouse to increase your loan eligibility and to get higher loan amount.
IndusInd Bank Personal Loan News - Jan 2017
26th Aug 16 IndusInd has reduced its 1 year MCLR from 26th August, 2016
IndusInd Bank has reduced its 1 year Marginal Cost of Fund Based Lending Rate (MCLR) by 15 basis point (bps) to 9.75 percent from 9.9 percent. The change are effective from 26th August, 2016. The interest rates of home loans that have been disbursed after 1st April 2016 are linked to 1 year MCLR. For borrowers who have taken a home loan from IndusInd Bank after 1st April 2016, the reduction in MCLR will translate into a reduction in their home loan rates and hence their interest outgo. However, if you have taken the home loan at fixed interest rate then your interest expense will remain unchanged.
24th Aug 16 IndusInd Bank ties up with IBM for improved customer engagement services
IndusInd Bank has tied up with IBM to use its cloud commerce solutions to convert customer arrangements and boost its cross-sell platforms. In an agreement of three years, IBM will provide a cloud and predictive analytics based multi-channel campaign managing solution that enables IndusInd Bank to build up its online banking presence while improving the product holding per customer. Using customer behavior analysis and real-time contextual advertising, banks can make sure that customers relating with the bank on any channel will receive relevant and timely communications.
12th Jul 16 IndusInd Bank Q1 net up 26% at Rs 661.38 cr
IndusInd Bank posted 26 per cent rise in net profit for the quarter ended June 30. The bank posted net profit of Rs 661.38 crore for the quarter, compared with Rs 525.04 crore in the corresponding quarter of the previous financial year. The bank would continue its focus on the digital medium. It launched its Finger Print mobile banking during this quarter.
11th Jul 16 IndusInd Bank reports a 26 percent increase in its Net Profit
As per the results for Q1FY17, IndusInd Bank reported 26 percent increase in Net Profit to Rs 661 crore. This was supported by a strong increase in its Net Interest Income. The Net Interest Income increased by 28 percent and the advances showed a growth of 30 percent year on year in June quarter. Asset quality weakened mildly in Q1FY17 as Gross NPAs increased to 0.91 percent of total advances, up from 0.87 percent as on March 2016 and the Net NPA stood at 0.38 percent in June quarter compared to 0.36 percent as on March 2016.
24th May 16 IndusInd Bank and Reliance General Insurance Tie up for Distribution of Insurance Products
IndusInd Bank has recently signed a Corporate Agency Agreement with Reliance General Insurance, with the objective to distribute multiple options of general insurance products to its customers. With this partnership, Reliance General Insurance has extended its distribution channels and will distribute its insurance products across all the branches of IndusInd Bank. This is the first tie-up on Bancassurance post the recent multi bank partner guidelines issued by IRDAI.
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