Apply Online for IndusInd Bank Personal Loan

Eligibility Criteria for IndusInd Personal Loan

Age: To be eligible for a loan, you must be at least 21 years old at the time of application and not older than 65 years old (for self-employed borrowers) or 60 years old (for salaried borrowers) when the loan is due.

Employment: Salaried individuals should have a steady source of income, while self-employed individuals need to have a successful business.

Income: To apply for a personal loan online, you must have a minimum net monthly income of ₹ 25,000.

Creditworthiness: Your chances of getting a loan are increased by a high credit score. IndusInd Bank takes your credit history into account when evaluating your loan application.

Fees and Charges of IndusInd Personal Loan

IndusInd Bank is the pioneer among India's new generation of private banks, having been founded in 1994. This reputable bank currently operates 800 branches and 1500 ATMs in India, and it plans to grow its branch network by exceeding international standards throughout the entire nation.

Interest rates for personal loans from IndusInd Bank begin at 10.49% annually. While IndusInd Bank has not made public the different interest rates it charges for personal loan applicants based on their credit scores or other factors, lenders typically consider the applicant's monthly income, employment history, credit score, and other factors when determining their personal loan interest rates.

Feature and Benefit of IndusInd Bank Personal Loan

Here are the features and benefits of IndusInd Bank instant loans:

• Availability of flexible loan terms.
• Quick loan processing with little physical paperwork and prompt payment of the loan amount into your bank account.
• Use the doorstep service for loan-related procedures.
• Competitive interest rates for IndusInd Bank personal loans.
• No collateral or guarantors required.
• Use the "Balance Transfer Option" to pay off high-interest debt.
• Flexible payment options, such as ECS from any bank or account debiting through IndusInd Bank loans.

Frequently Asked Questions (FAQ)

1. When is the personal loan from IndusInd Bank disbursed?

As soon as the loan application and thorough verification are submitted, an IndusInd Bank personal loan is approved and disbursed. It can take an additional 1 - 2 days if the information is incorrect. IndusInd Bank also provides pre-approved immediate personal loans to a restricted group of customers.

2. What credit rating is required to qualify for an IndusInd Bank personal loan?

No specific cut off credit score has been established by IndusInd Bank for individuals seeking personal loans. However, obtaining a personal loan at increasingly lower interest rates is more likely for those with credit scores of 750 and above.

3. Can I pay off my personal loan early?

Yes, prepayments are permitted after 12 EMIs have been paid, subject to prepayment fees of 4% of the outstanding balance.