Personal Loan

    Presenting IndusInd Bank Personal Loans. Now you don’t have to wait to fulfil your dreams. Be it renovating your home, going on your dream vacation or buying your special someone that coveted gift, count on us to make it happen.

    Fulfil all your financial needs with our hassle free Personal Loans, which are designed to help you live life to the fullest.

Features & Benefits

    • Obtain a loan easily with Simple Documentation, Quick Processing and Speedy Disbursal.
    • Choose Loan Tenure as per your convenience ranging from 1 to 5 years.
    • Enjoy the convenience of Doorstep Service.
    • Get the best in class Interest Rates.
    • You need not worry about Collaterals or Guarantors.
    • Get rid of your high interest debt through Balance Transfer Option.
    • Choose a convenient repayment option from, IndusInd Bank A/C Debit or ECS from your other Bank.

    To view the list of cities where you can avail our Personal Loan Click here

Eligibility

    Eligibility for Salaried Employee

    This category includes Salaried Doctors, Chartered Accounts, employees of select Public and Private Limited Companies, Government Sector employees including Public Sector Undertakings and Central, State and Local Bodies.

    • Minimum age at the time of application should be 21 years
    • Maximum age at loan maturity should be 60 years
    • Minimum net monthly income should be Rs.25000
    • Should have completed minimum 2 years in employment and minimum 1 year in the current organization
    • Should have completed minimum 1 year of stay at the current residence

    Eligibility for Self-employed Professional

    This category includes Self-employed Doctors (MBBS and higher degree), Architects, Chartered Accountants, Company Secretaries, Engineers and MBA consultants.

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

    Eligibility for Self-employed Individual

    This category includes self-employed sole proprietors, directors and partners in the business of manufacturing, trading or services

    • Minimum age at the time of application should be 25 years
    • Maximum age at loan maturity should be 65 years
    • Minimum annual net income post tax should be Rs.4.8 lacs
    • Should have minimum 5 years of continuous business experience

    To view the list of cities where you can avail our Personal Loan Click here

Documentation

    Documentation for Salaried Employee

    • Proof of Identity: Passport / Driving License / Voters ID / PAN Card / card issued by UIDAI containing the details of name, photograph, address and Aadhaar number.
    • Proof of Residence: Leave and License Agreement / Ration Card / Utility Bill (not more than 3 months old) / Valid Passport - provided the passport address is present address mentioned in application form.
    • Proof of Income: Latest 3 months salary slip / salary certificate and latest Form 16
    • Bank Statements: Latest 3 months bank statement (where salary is credited).

    Documentation for Self-employed Professional

    • Proof of Identity: Passport / Driving License / Voters ID / PAN Card / card issued by UIDAI containing the details of name, photograph, address and Aadhaar number.
    • Proof of Residence: Leave and License Agreement / Ration Card / 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 application form.
    • Business (Current Account) Bank Statements (latest 6 months Bank Statement / Passbook
    • Proof of Qualification: 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.
    • Profession continuity proof

    Documentation for Self-employed Individual

    • Proof of Identity: Passport / Driving License / Voters ID / PAN Card / card issued by UIDAI containing the details of name, photograph, address and Aadhaar number.
    • Proof of Residence: Leave and License Agreement / Ration Card / 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 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.
    • Business continuity Proof: Trade license / Establishment / Sales Tax Certificate)
    • Additional Mandatory Documents: Sole Proprietorship Declaration / Certified copy of Partnership Deed / Certified copy of MOA, AOA & 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.

    Form

    Personal Loan Application Form

    To view the list of cities where you can avail our Personal Loan Click here

FAQs

    • What are the minimum and maximum loan amounts?
    • You can avail of loans ranging from Rs.50,000 to 15,00,000 depending on your eligibility, income, nature of job and repayment capacity.

    • What are the loan tenure options?
    • You can repay your loan over a period of 12 to 60 months.

    • How long will it take for my Personal loan to be approved?
    • Your loan will be disbursed within 4-7 working days post receipt of the required documents. All loan approvals are at the sole discretion of the bank.

    • Are there any additional charges?
    • A processing fee up to 2.5% of the loan amount and requisite documentation charges is payable upfront. This fee will be deducted from the loan amount at the time of disbursal.

    • How can I repay my Personal Loan?
    • You pay the loan in equal monthly installments (EMIs). The loan will be paid through ECS. You can also pay through a standing instruction to debit your IndusInd Bank account with the EMI amount.

    • What security do I need to provide to obtain this loan?
    • To obtain the loan, there is absolutely no need to provide any security or collateral.

    • Can I prepay my loan?
    • You can prepay the entire loan outstanding anytime after paying 12 installments for Salaried Clients and any time after 6 installments for Self Employed Clients. Prepayment charges as applicable would be levied on the outstanding loan amount.

    • Is part-prepayment of a Personal Loan allowed?
    • Part prepayment is not allowed. The loan has to either be prepaid in full or serviced for the contracted tenure.

    • How do I approach IndusInd Bank for a Personal Loans?
    • You can approach us in any of the following ways:
      Call us at our 24 hour Customer Care No.: 1860 500 5004 / +91 22 44066666
      Write to us at reachus@indusind.com
      SMS "PL" to 567657
      Or you can simply walk into any of our branches, in the select cities where we offer Personal Loans

    • Do I need to open an account with IndusInd Bank for availing and / or servicing the loan?
    • We will encourage you to start a banking relationship with us so that we will be able to offer a host of other value added services which are complementary to the loan, however opening an account with us is not mandatory.

    • Do I get special privileges as a IndusInd Bank Customer?
    • As a IndusInd Bank Customer, you will be offered special interest rates, asked for minimal documentation and your application will be processed on priority. Having an account with us enables us to assess your financial requirements better; and assists us in providing you with services and loan amount commensurate with your payment ability and requirement.

    • What are the applicable rate?
    Interest Rate Up to 23% p.a.

    Processing Fees

    Up to 2.50% of loan amount subject to a minimum of Rs. 1,000 plus tax

    Prepayment Charges

    Salaried: 4% of the principal outstanding after repayment of 12 EMIs.

    Self Employed:
    4% of the principal outstanding after repayment of 6 EMIs

    Payment Dishonor Charges Rs 450/- plus tax

    Duplicate Statement Charge

    Rs 250/- per instance plus tax

    Cheque / ECS / SI Swapping Charges

    Rs 500/- plus taxes per event
    Duplicate No Dues Certificate Rs 250/- plus taxes per event

    Duplicate Amortization Schedule Charge

    Rs 250/- plus taxes per event
    Loan Re-Booking / Rescheduling Charges Rs 1000/- plus taxes per event

    Loan Cancellation Charges

    Rs 1000/- plus taxes per event

    Charges for Photocopy
    of Agreement / Documents

    Rs 250/- plus taxes per event

    Penal Charge

    Rs 150/- plus taxes, Per EMI delay beyond 5 days

    Legal Charges

    As per Actuals
    Stamp Duty As per State Laws

    CIBIL Report

    Rs. 50/- per instance per set + Service Tax as applicable

    To view the list of cities where you can avail our Personal Loan Click here

What Next

Apply Online

Fill in the details & our representative will contact you.

> Apply Now

For further details

Email:
reachus@indusind.com
Call:  BSNL & MTNL subscribers: 1800 22 0061                   Other subscribers:            1800 209 0061 / 022 44066666

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