Interest Rate
10.99 - 30.5
Processing Fee
2.50%
Loan amount
50000.00 - 1500000.00
Tenure
5 years
Avail loan amount from Rs.50,000 to Rs. 15 Lacs depending on your eligibility, income, nature of job and repayment capacity.

You can repay your loan over a period of 12 months to 60 months.

Enjoy zero security or collateral.

Prepayment can be made after repayment of first 12 EMIs if Salaried borrower and 6 EMIs if Self-Employed borrower.

Indusind Bank offers you a wide range of funds for salaried employees, self employed professionals and self employed individuals. It provides loan amounting Rs. 50,000 to Rs 15 Lacs within 4 to 7 working days with annual interest rate of 11.25% to 23%. The term of the loan is 12 months to up to 60 months and the processing fee upto 2.5% of the loan amount starting from Rs. 1000 minimum for regular personal loan and Rs. 250 minimum for Personal Loan on Credit Cards.

You can prepay the entire loan outstanding anytime after paying the 12 installments for salaried employees and anytime after 6 installments in case of self employed applicants. Apart from it, Indusind Bank offers zero documentation to existing borrowers such as people who have taken loans on credit cards or have indusind bank saving or salary account.

Indusind Bank Personal Loan at a glance


Indusind Bank Personal Loan
Annual Interest Rate 11.25% - 23%
Loan Term 12 Months - 60 Months
Loan Amount Rs. 50,000 - Rs. 15 Lacs
Time of Funding Within 4 - 7 working days
Pre-Closure Charges 4% of the principal outstanding amount

Indusind Bank Personal Loan Rate of Interest


Personal Loan Type Applicable Interest Rate
Indusind Bank Personal Loan 11.25% - 23% per annum
Indusind Bank Personal Loan Balance Transfer 15% per annum

The applicable rate of interest of Indusind Bank Personal loan is 11.25% onwards to 23% per annum, to that of YES Bank which has 10.75% to 15.90% while 10.99% to 24% in case of Kotak Mahindra.

Indusind Bank Personal Loan Eligibility


Eligibility Criteria
Age 21 Years to 58 Years
For Salaried
25 Years to 65 Years
For Self-Employed
Income Rs. 25,000 per month
For Salaried
Rs. 4.8 Lacs per annum
For Self-Employed
Experience at Current Organization Minimum 1 Year
For Salaried
Total Work Experience Minimum 2 Years
For Salaried
Minimum 4 Years
For Professionals
Minimum 5 Years
For Businessmen
Residential Stability Minimum 1 Year at Current Place
For Salaried
  • The Age of the salaried applicant should be minimum 21 year at the time of application of the loan and maximum 60 years or retirement (whichever is earlier) at the time of loan maturity.
  • In case of Self-Employed Individuals and Professionals, minimum age of the applicant at the time of application should be 25 years and maximum age of 65 years at the time of loan maturity.
  • In case of a salaried applicant, the minimum net monthly income of Rs. 25,000 is required for applying personal loan.
  • In case of a self-employed applicants, minimum tax deducted net annual income of Rs. 4.8 Lacs required.
  • Salaried Applicant should have a minimum 1 year experience in the current organisation and total of 2 years experience.
  • A Self-Employed Professional should have a minimum 4 years of experience post qualification and a Self-Employed Individuals should have a minimum of 5 years of experience post qualification.
  • Salaried Applicant should have completed minimum 1 year of stay at the current residence in case of living at a rented place.
  • In case the applicant is a Self-Employed Doctor, then the minimum qualification of MBBS is necessary.

Indusind Bank is a Good Fit for you if?


Existing Customer

Being an existing customer of Indusind Bank, you will be offered special interest rates, asked for minimal documentation and your application will be processed on priority. With the availability of personal loan EMI Calculator at your disposal, you can easily calculate your monthly installments you have to pay even before you applied for the loan.

Why Choose Indusind Bank?


Only 6 Months Prepayment Locked-in Period for Self

Employed – A self-employed individual or a self-employed professional can prepay their personal loan any time after the full repayment of the first 6 EMIs in case of self employed by just paying a foreclosure fee equals to 4% of the principal outstanding amount.

Flat Penal Charges

Indusind Bank charges a flat Penal fee of Rs. 150 only if your monthly EMI has been delayed for 5 days beyond the due date of payment, unlike most of the other banks which are charging an additional interest rate of 2% on the overdue amount from the very next day of payment due date.

Zero Documentation on Credit Card Loans

If you are an existing Indusind Bank Credit Card holder and availing the loan on your credit card, then you don't need to worry about the documentation. Since, indusind bank offers zero documentation facility on Indus Easy Loan.

Pre-close Personal Loan against Credit Card anytime

If you have availed personal loan against your existing Indusind Bank Credit Card then you have the liberty to foreclose your personal loan anytime you want by paying a fee equal to 3% of principal outstanding amount unlike the regular personal loan borrowers who have to wait for 6 to 12 months before making a pre-closure request.

Doorstep Service

Indusind Bank offers doorstep service to collect the required documents to make the personal loan processing smooth for the applicant.

What to watch out for?


Offering Personal Loan in Selected Cities

Indusind Bank offers personal loan in the following Indian cities only – Chandigarh / Panchkula, Delhi / New Delhi, Faridabad, Ghaziabad, Gurgaon, Jaipur, Kolkata, Noida, Amritsar, Bhubaneswar, Cuttack, Jodhpur, Kanpur, Lucknow, Ludhiana, Ahmedabad, Mumbai, Navi Mumbai, Pune, Thane, Nagpur, Surat, Baroda, Indore, Bangalore, Chennai, Hyderabad / Secunderabad, Coimbatore, Visakhapatnam and Cochin.

12 Months Lock-in Prepayment Period for Salaried Borrowers

Salaried Borrowers can only prepay their personal loan after the full repayment of first 12 EMIs unlike the Self-Employed Borrower who can prepay their personal loan anytime after the first 6 EMIs.

High Processing Charges

The processing fee levied on Indusind Bank Personal Loan is equal to upto 2.50% of the loan amount which is the standard fee charged by the most banks. However, Indusind Bank have set a minimum processing fee limit of Rs. 1,000 which is quite high since most of the bank doesn't impose a minimum processing amount limit on their personal loans.

Compare Indusind Bank Personal Loan to Other Banks


Bank Name Indusind Bank YES Bank Kotak Mahindra Bank
Typical APR 11.25% - 23% 10.75% - 15.90% 10.99% - 24%
Loan Term 12 Months - 60 Months 12 Months - 60 Months 12 Months - 60 Months
Maximum Lending Amount Rs. 15 Lacs Rs. 25 Lacs Rs. 15 Lacs
Processing Fee Up to 2.50% of loan amount
Min. Rs. 1000
Up to 2.50% of the loan amount
Minimum Rs. 999.
Up to 2.50% of loan amount
Time to Funding Within 4 - 7 working days Within 24 hours Within 30 Minutes
Pre-Closure 4% of Principal Outstanding Zero to 4% of Principal Outstanding 5% of Principal Outstanding

The Typical Annual Interest rate of Indusind Bank is 12.25% to up to 23% while YES Bank charges 10.75% to 15.90% and 10.99% to 24% in case of Kotak Mahindra Bank. The loan term of Indusind Bank is 12 months to up to 60 months while 12 months to 60 months in YES Bank and 12 months to 60 months in case of Kotak Mahindra Bank. Indusind Bank offers personal loan of maximum Rs 15 Lacs, Rs. 25 Lacs in YES Bank and Rs. 15 Lacs in case of Kotak Mahindra Bank.

Indusind Bank charges processing fee up to 2.50% of loan amount or minimum Rs. 1000, up to 2.50% of the loan amount or minimum Rs. 999 in case of YES Bank and up to 2.50% of loan amount in Kotak Mahindra Bank. The time of funding is within 4 to 7 working days in Indusind Bank to that of YES Bank which provides fund within 24 hours and within 30 minutes in case of Kotak Mahindra Bank. The Pre-Closure of Indusind Bank is 4% of the Principal Outstanding to that of YES Bank with Zero to 4% of the principal Outstanding and 5% of the Principal Outstanding in case of Kotak Mahindra Bank.

Loan Offerings


Indusind Bank Personal Loan

The tenure of Personal loan offering in Indusind Bank is ranging from minimum 12 months to 60 months. It Avail personal loan of minimum Rs. 50,000 to maximum Rs. 15 Lacs. The Salaried Employee can be an employee of government organisation, Public Sector Undertaking employee, public and private sector employee, a salaried doctor or chartered accountant or a central, state and local bodies. Self-Employed Professional can be a self-employed doctor with MBBS or higher degree, Architect, Chartered Accountant, Company Secretary, Engineers and MBA consultant and Self-Employed Individuals can be a sole proprietor, director and partners in the business of manufacturing, trading or services. The Annual interest rate ranging from 11.25% to 23% per annum with the processing charges of upto 2.50% of the amount of loan.

Indusind Bank Personal Loan Balance Transfer

You should consider Personal loan balance transfer from another bank to Indusind Bank if you are paying higher rates than 15% per annum as you can transfer your existing personal loan to indusind bank at annual interest rate of 15% for tenure as long as 60 months. However, the interest rate being charged by Indusind Bank of balance transfer is quite high as compared to 11.70% in case of HDFC Bank, 11.50% in IDFC Bank, 11.99% in case of Citibank, 12.99% in case of ICICI Bank and 11.99% in Tata Capital.

Indus Easy Loan (Personal Loan on Credit Cards)

Indusind Bank also offers personal loan against your existing Indusind Bank Credit Card Limit or Above the Credit Limit. The sanctioned amount against the credit card would be equal to the unutilised credit limit on the credit card. This means, the credit limit equal to the borrowed amount will be blocked. An applicant can avail a minimum personal loan of Rs. 5,000 on your credit card with no maximum limit. Indusind Bank charges a processing fee equal to 2.50% of the loan amount or minimum Rs. 250.

As far as the preclosure is concerned, Indusind Bank allows you to preclose your personal loan against your indusind bank credit card using foreclosure method and charges a fee equals to 3% of the principal outstanding amount.

Indusind Bank Personal Loan Documents


Documents for Salaried Employees:

  • Latest 3 months salary slip / salary certificate along with Form 16
  • Latest 3 months bank statement (where salary is credited).
  • Proof of residence like ration card, utility bill (not more than three months old).
  • KYC Documents are required to apply for the Indusind Bank Personal Loan.

Documents for Self-Employed Professionals:

  • Last 6 months bank statement of current account opened in the name of business
  • Copy of Highest Professional Degree
  • Business Continuity Proof
  • Proof of residence like your ration card, utility bill (not more than three months old).
  • Last 2 years ITR along with computation of income, B/S, P&L a/c with all schedules certified by a CA
  • Loan Application with KYC Documents

Documents for Self-Employed Individuals:

  • Last 6 months bank statement of current account opened in the name of business
  • Copy of Highest Professional Degree
  • Copy of Trade License / Business Establishment Documents/ Sales Tax Certificate
  • Last 2 years ITR along with computation of income, B/S, P&L a/c with all schedules certified by a CA
  • 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.
  • Loan Application with KYC Documents

How to Apply for Indusind Bank Personal Loan?


At Kredit

  • Click on "Apply Now" button given above
  • Provide all the required information and wait for the approval from the bank.

After I've Applied?


Check Personal Loan Application Status

  • Dial 1860-500-5004 or +91-22-44066666 from your registered mobile number.
  • Press 5 to choose "Loans"
  • Now Press 1 for personal loans
  • For English Press 1, For Hindi Press 2.
  • Now enter your Personal Account Number to know about your status of Personal loan.

Click here to read more about how to check your indusind bank personal loan status.

Fees & Charges


Type of Charges Applicable Amount
Processing Charges Up to 2.50% of the loan amount
Foreclosure Charges Nil
Default Charges Rs. 150 for each EMI delayed beyond 5 days
Loan Re-Booking / Rescheduling Charges Rs. 1,000
Loan Cancellation Charges Rs. 1,000
EMI Bounce Charges Rs. 450 per instance
Cheque / ECS / SI Swapping Charges Rs. 500 per instance

The Processing Charges applicable for Personal loan are up to 2.50% of the amount of loan or minimum of Rs. 1000 for Personal Loan or minimum Rs. 250 for Personal Credit Card. While the Foreclosure charges allowed after first 6 EMI's are nil. The Penal / Default Charges are Rs. 150 for each EMI delayed beyond 5 days. The loan cancellation charges are Rs. 1000 and EMI Bounce fee is Rs. 450 per instance. The applicable charge for Cheque / ECS / SI Swapping is Rs. 500 per instance.

FAQs


When can I pre-close my personal loan? And what are the applicable charges?

A Salaried applicant can pre-close his/her Indusind Bank Personal Loan only after the payment of first 12 EMIs and Self-Employed applicant is allowed to pre-close his/her personal loan only after the payment of first 6 EMIs.

Pre-closing the personal loan before it's repayment period would attract the charge of 4% of the Principal Outstanding.

How can I contact Indusind Bank Customer Care?

You can contact Indusind Bank at their customer care number 1860-500-5004 / +91-22-44066666 or write them an email at [email protected].

Personal Loan
1 4 5
2019-07-08

Easy Apply and Approval

The process of applying a Personal loan was very simple when I applied it and they were also very generous to approve it easily.

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