Introduction
IndusInd Bank offers a range of personal loans tailored to meet diverse financial needs, whether it’s managing wedding expenses, funding a dream vacation, covering medical emergencies, or renovating your home. With loan amounts ranging from ₹50,000 to ₹25 lakhs, IndusInd Bank provides the financial flexibility you need without requiring any collateral.
Additionally, the bank provides flexible repayment options, making it easier for borrowers to manage their financial obligations while addressing immediate personal needs.
Indusind Bank Personal Loan Highlights
| Interest Rate | 10.49% onwards |
| Loan Amount | Rs.30,000 to Rs.50,000 |
| Tenure | 1 to 6 years |
| Processing Fees | Up to 3.5% onwards |
Types of Personal Loans
| Type of Loan | Purpose | LTV Ratio | Tenure | Special Features |
| Wedding Loan | Financing wedding expenses | Up to 100% | 12 to 60 months | Quick disbursal, minimal documentation |
| Travel Loan | Funding domestic or international travel | Up to 100% | 12 to 60 months | Flexible repayment options, no collateral required |
| Medical Loan | Covering medical emergencies | Up to 100% | 12 to 60 months | Fast approval, high loan amount based on eligibility |
| Home Renovation Loan | Home improvement or renovation projects | Up to 100% | 12 to 60 months | Customized loan amounts, balance transfer facility |
| Education Loan | Financing higher education expenses | Up to 100% | 12 to 60 months | Competitive interest rates, unsecured loan |
| Debt Consolidation Loan | Consolidating multiple debts | Up to 100% | 12 to 60 months | Lower interest rates on balance transfer, one-time EMI |
| Top-up Loan | Additional funds for existing personal loan | Up to 100% | Remaining tenure of existing loan | Easy application process, quick disbursal |
Indusind Bank Personal Loan Features & Benefits
- Flexible loan tenures available
- You can avail yourself of a personal loan from IndusInd Bank with minimum physical documentation, quick processing of loan, and quick disbursal of the loan amount to your bank account.
- Avail doorstep service for loan-related processes
- Competitive interest rates
- No guarantors or collateral
- Use the ‘Balance Transfer Option’ to do away with high interest debt
- Flexible repayment gateways including ECS from any bank or through IndusInd Bank account debit
Indusind Bank Personal Loan Interest Rate
| Customer Type | Effective Rate Of Interest |
| For Salaried | 10.49% to 20.00% per annum. |
| For Self-employed | 11.00% to 22.00% per annum. |
Indusind Bank Personal Loan Processing Fees and Charges
| Fee Type | Details |
| Processing Fee | Up to 3% of the loan amount |
| Prepayment Charges | 2% to 4% of the outstanding principal amount (after 12 EMIs) |
| Foreclosure Charges | 2% to 4% of the outstanding principal amount |
| Late Payment Charges | 2% per month on the overdue amount |
| Cheque Bounce Charges | ₹500 to ₹1,000 per instance |
| Loan Cancellation Charges | Processing fee is non-refundable; interest charged for the period between disbursement and cancellation |
| Stamp Duty and Statutory Charges | As per state laws |
| Duplicate Statement Issuance Charges | ₹250 per statement |
| Charges for Copies of Documents | ₹500 per request |
| Amortization Schedule Charges | ₹200 to ₹500 per request |
Eligibility Criteria for Indusind Bank Personal Loan
| Requirements | Salaried | Self-Employed |
| Residency | Indian/NRI | Indian/NRI |
| Age | 21 to 60 years | 25 to 65 years |
| CIBIL Score | 700 or above | 700 or above |
| Minimum Net Income | ₹25,000 per month | ₹4 lakhs annual income (may vary based on business type) |
Documents Required for Indusind Bank Personal Loan
For Salaried Individuals
- Duly filled application form with passport-sized photographs
- Self-attested photocopy of anyone of the ID proof- Passport, Aadhaar, PAN, driving license and voter ID
- A valid residence/ID/signature proof for KYC
- Last 3 months salary slips/ITR for last 3 years/Form 16
- Bank statement for last 3 months showing the salary credits
- Any other document required by the bank
For Self-employed Professionals
- Duly filled application form with a photograph attached
- ID Proof- Passport, voter ID, driving license, PAN and Aadhar card
- KYC- Residence proof, signature proof and valid identity proof
- Form 16/ ITR for last 3 years
- Salary slip for past 3 months
- Bank statement of Primary Savings Account for last 3 months and Practice Current Account for last 6 months
For Self-employed Individuals
- Filled application form with a photograph attached
- KYC- Valid ID Proof (driving license, passport, voter ID, PAN and Aadhar card), residence proof and signature proof
- ITR for last 3 years
- Last 3 months salary slip
- Form 16
- Bank statement of Business Current Account for last 6 months and Primary Savings Account for last 3 months
Indusind Bank Personal Loan EMI Calculator
Calculate your EMI using Indusind Bank ’s online EMI calculator. Simply enter the loan amount, tenure, and interest rate to get an estimate of your monthly payments. [Link to EMI Calculator
Tips to Improve Loan Approval Chances
- Improve Credit Score: Maintain a CIBIL score of 750 and above.
- Reduce Existing Debt: Lower your existing debt before applying.
- Stable Income: Ensure consistent and stable income to meet eligibility criteria.
How to Apply for a Personal Loan at Punjab National Bank?
- Visit the Indusind Bank website or nearest branch.
- Click on ‘Apply Now’.
- Provide your personal and income details.
- Select “Indusind” from the list of lenders.
- Choose your preferred loan amount and repayment tenure.
- Submit the application.
- Contact Us at +91 636909 5433 or Visit Grow Associates for more convenient option
Types of Indusind Bank Personal Loans
1. Wedding Loan
- Purpose: To cover wedding-related expenses, such as venue booking, catering, attire, and other associated costs.
- Special Features: High loan amounts with flexible repayment options and quick disbursal.
2. Travel Loan
- Purpose: To fund domestic or international travel, including flight tickets, accommodations, and other travel-related expenses.
- Special Features: Minimal documentation with fast approval, making it ideal for spontaneous trips.
3. Medical Loan
- Purpose: To manage medical emergencies, surgeries, treatments, and hospital bills.
- Special Features: Quick processing and disbursal to ensure funds are available when urgently needed.
4. Home Renovation Loan
- Purpose: For home improvement projects, including renovations, repairs, and interior design.
- Special Features: Customized loan amounts based on renovation costs, with flexible repayment options.
5. Education Loan
- Purpose: To finance higher education, including tuition fees, study materials, and living expenses.
- Special Features: Competitive interest rates and no collateral required, making it accessible to students.
6. Debt Consolidation Loan
- Purpose: To consolidate multiple existing debts into a single loan, simplifying repayment and potentially reducing interest costs.
- Special Features: Lower interest rates on consolidated debt and the convenience of managing one EMI.
7. Top-up Loan
- Purpose: Additional funds for existing IndusInd Bank personal loan customers who need extra money.
- Special Features: Easy application process and quick disbursal, with no need to re-apply for a new loan.
8. Festival Loan
- Purpose: To cover expenses related to festivals, such as shopping, gifts, travel, and celebrations.
- Special Features: Shorter tenure with flexible repayment plans designed to suit seasonal needs.
Why Apply for Personal Loans through Grow Associates?
- Offers from Top Lenders: 30+ partner Banks/NBFCs/Fintechs provide the best available loan at one place.
- Compare & Choose: Easily compare loan offers from top banks, NBFCs, and fintechs to choose the best option.
- Personalized Solutions & High Approval Chances: Personal loan offers are ranked according to your credit score and eligibility factors, maximizing your chances of approval.
- Pre-Approved Loans: Access pre-approved personal loan offers based on your credit health.
- End-to-end Assistance: From loan selection to fund disbursement, Grow Associates assists you at every step.
Compare Punjab National Bank Personal Loan with Other Banks and NBFCs
| Bank Name | Interest Rate | Processing Fee | Foreclosure Charges | Late Payment Fee |
| Indusind Bank | 10.49% to 20.00% per annum (Salaried) | Up to 3% of the loan amount | 2% to 4% of the outstanding principal amount | 4% to 5% of the outstanding principal amount |
| Punjab National Bank | 8.80% to 14.85% p.a. | 1% of the loan amount + GST | 3% of the prepaid amount | 2% per month on the overdue amount |
| Bank of India | 10.50% – 14.50% p.a. | Up to 2% of the loan amount (min ₹1,000, max ₹15,000) | Nil for individual borrowers | 2% per month on the overdue amount |
| ICICI Bank | 10.99% to 22% p.a. | Up to 2.5% of the loan amount + GST | 5% of the outstanding principal amount + GST | 2% per month on the overdue amount |
| Kotak Mahindra Bank | 10.99% to 24% p.a. | Up to 2.5% of the loan amount + GST | 5% of the outstanding principal amount + GST | 2% per month on the overdue amount |
| HDFC Bank | 11% to 21% p.a. | Up to 2.5% of the loan amount + GST | 4% of the outstanding principal amount | 2% per month on the overdue amount |
| State Bank of India | 10.55% to 15.65% p.a. | 1% to 1.5% of the loan amount + GST | 3% of the prepaid amount | 2% per month on the overdue amount |
| Axis Bank | 12% to 24% p.a. | Up to 2% of the loan amount + GST | 5% of the outstanding principal amount | 2% per month on the overdue amount |
| Bajaj Finserv | 11% to 24% p.a. | Up to 3.99% of the loan amount + GST | 4% of the outstanding principal amount + GST | 2% per month on the overdue amount |
