Indusind bank personal loan

IndusInd Bank inaugurates new branch in Nagpur, its 15th in the city Nagpur, June 10, 2023: IndusInd Bank inaugurated its 15th branch in Nagpur located at Gandhi Putla. Nagpur is one of the 17 focused home markets for the Bank that contributes significantly in the growth strategy of the Bank. The new branch was inaugurated by Hon'ble Minister for Road Transport & Highways in the Government of India, Mr. Nitin Gadkari in the presence of senior officials of IndusInd Bank. The new branch will provide services like Saving & Current accounts, Loan products, Wealth Management services and Credit cards. Additionally, it will also offer customers with innovative facilities like ‘Video Branch’, ‘My Account, My Number’, ‘Choice Money ATM’, ‘Direct Connect’, ‘Check on Cheque’, ‘Cash on Mobile’ as well as ‘Finger Print’ banking. With this new branch, IndusInd Bank now has a wide network of 250 branches across Maharashtra. As on 31st March 2023, IndusInd Bank has a total of 2606 Branches/Banking Outlets across India. In terms of Bank’s overall business as on 31st March 2023, total deposits of the Bank stood at ₹3,36,120 crores and advances at ₹2,89,924 crores. Further, the advances include consumer banking segment contributing 54% and within that vehicle finance - 26% and Micro Finance - 11%. Speaking on the inauguration of the branch, Mr. Soumitra Sen, Head- Consumer Banking & Marketing, IndusInd Bank said, “We are happy to inaugurate a new branch in Nagpur which is a constantly evolv...

In today’s modern time, needs and ambitions are unlimited. From time to time, we need additional cash to meet critical financial commitments. Our salary and savings prove to be insufficient when we have unavoidable financial obligations. Such expenses are marriages, Loan EMIs, different utility bills, education fees, primary medical treatment, etc. IndusInd Bank Personal loan is an ideal way to arrange additional funds in a hurry. It helps you fulfill all-important financial obligations without asking for monetary help from anyone. Doesn’t this financial assistance help when you are desperate for cash? Let’s know more about it and discuss its advantages. IndusInd Bank Loan Details: The Basic Information You Need To Familiarize Yourself! The IndusInd Bank loan is a ray of hope for anyone looking for immediate funds due to the sudden appearance of emergency expenses. The bank allows eligible borrowers to get funds starting from Rs. 50,000 to 25 lakhs for 1 to 5 years. The interest fees applied on the borrowed money ranges between 10.49% to 20%. In addition, the bank takes processing fees which may go up to 3% of the loan amount sanctioned. Furthermore, it allows you to settle the loan before its maturity date. So, don’t get disappointed if you have unavoidable financial commitments. Get an Indusind personal loan after completing all formalities and clearing all pending bills. What Type Of Personal Loan Products IndusInd Bank Offers To Customers? IndusInd Bank is India’s high...

While the repayment tenure for IndusInd Bank Personal Loan is for up to 5 years, the existing loan borrowers have the option to foreclose their personal loan account. But before doing that, you should know about the charges, benefits and disadvantages of pre-closing your loan. Here is everything you should know about IndusInd Bank Personal Loan Preclosure. What are the Benefits of Pre-closing your Personal loan? Increased EMI Affordability Lenders offer loans to applicants whose total EMI is within 50-60% of their total monthly income. This also includes their existing EMI and the EMIs for new loans. As a result, applicants exceeding this income limit have less chances of availing personal loans. However, consumers can easily reduce their EMI/NMI ratio and improve their eligibility for availing other loans by prepaying their existing personal loans. Savings on cost of interest Consumers availing personal loans can also save on their interest costs by prepaying the loan amount that they would have otherwise incurred during the loan tenure. For instance, if you availed a personal loan of Rs 10 lakh at 13% p.a. And repayment tenure of 5 years, then the EMI would be Rs 22,753 and total interest would be Rs 3.65 lakh. However, consumers can easily save on the cost of up to Rs 2.44 lakh if they repay the outstanding personal loan after a year. Reduced Share of Unsecured Loans in Credit Mix Credit mix is the ratio of unsecured and secured loans. By prepaying the outstanding loan ...

Table of Contents • • • • • • Loan amount: Interest rate: The interest rate for IndusInd Bank personal loans is competitive and depends on various factors such as the borrower’s credit score, income, and repayment capacity. The interest rates range from 10.99% to 16.00%. Repayment tenure: The repayment tenure for IndusInd Bank personal loans ranges from 12 months to 60 months, giving borrowers flexibility in choosing the repayment period that suits their financial situation. Processing fee: IndusInd Bank charges a processing fee of up to 2.50% of the loan amount, depending on the borrower’s profile and loan amount. Part prepayment and foreclosure: IndusInd Bank allows borrowers to make part prepayment and foreclosure of their personal loans without any charges, subject to certain terms and conditions. The eligibility criteria for IndusInd Bank personal loans are as follows: Age: The borrower must be at least 21 years old and not more than 60 years old. Income: The borrower should have a minimum monthly income of Rs.25,000, and the income criteria may vary depending on the borrower’s location and type of employment. Credit score: A good credit score is essential for availing of a personal loan from IndusInd Bank. The bank considers a credit score of 750 and above as a good score. Documents Required for IndusInd Bank Personal Loan: The documents required for IndusInd Bank personal loans are: Identity proof: Aadhaar card, passport, voter ID card, PAN card, or driving license....

Individuals who have borrowed Salaried individuals can pre-close their loans after at least 12 EMIs have been repaid, while self-employed individuals can pre-close their loans after the payment of 6 EMIs. Read on for more information about the charges that you will need to pay and the procedure that you will have to follow to pre-close your loan. IndusInd Personal Loan Pre-Closure/Foreclosure Charges • Salaried employees will need to pay 4% of the outstanding principal as the pre-closure fee. • Self-employed individuals will also have to pay a pre-closure charge of 4% of the outstanding principal. Requirements for IndusInd Bank Personal Loan Pre-Closure • If you have just availed a personal loan from IndusInd Bank, you may not be eligible to pre-close your loan just yet. Thus, it is necessary to check whether you are eligible to pre-close your loan. • Check the foreclosure charges and procedure that you will need to follow in advance. • Make sure to keep the required documents ready since you will need to submit these documents to the lender when pre-closing the loan. • You can visit the lender’s office or contact the customer service team of IndusInd Bank to know the pre-closure quote. The pre-closure quote will include the penalty that you will need to pay, the outstanding loan balance, and taxes, if any. It is best to do this so you can be sure of how much funds you will require to pre-close your loan. • Once you know the quote, you can prepare a cheque for the same acc...

IndusInd Bank personal loans can be availed at attractive interest rates and used for a variety of purposes. They offer instant online personal loans with quick time processing and loan approval. • Loan amounts up to Rs.25 lakh • Interest rates from 11% p.a. • Processing fee 1% - 3% of the loan amount • Speedy approval process and quick disbursal More Eligibility Criteria • Age at least 23 years and less than 58 years for salaried • Age at least 28 years and less than 68 years for self-employed • For salaried, 2 years minimum overall work experience with 1 year minimum experience in current company • For self-employed, at least 5 years of experience after relevant qualification • Interest Rate (Monthly reducing balance) 11.00% onwards Processing Fees 2.5% onwards Loan Amount Rs.30,000 to Rs.50,000 Loan Tenure 1 to 5 years Pre-Closure Charges Pre closure permitted after 1 year. 4% of principal outstanding (plus applicable tax) Guarantor Requirement No guarantor required Features of IndusInd Bank Personal loan • 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 throu...

• Minimum age at the time of application should be 21 years • Maximum age at personal loan maturity should be 60 years or retirement age whichever is earlier. • Minimum net monthly income should be Rs.15000 • Should have completed minimum 2 years in employment and minimum 1 year in the current organisation. • Should have completed minimum 1 year of stay at the current residence, if rented. 2. What are the documents required for availing the loan? • Aadhar Number • PAN • Proof of residence if address in Aadhar is not your current address (Driving license, Voter’s ID Passport also accepted as address proof). • 6 months’ Bank statement (optional). 3. How much time required for disbursal to my bank account? In case all details are correct and verified in real-time, disbursal should happen within few hours (up to 6 hours), else it may take few days (1-2 days). 4. What are the loan tenure options? You can repay your loan over a period of 12 to 48 months. 5. What is the rate of interest applicable? Rate of interest will be 12.3% onwards. Applicable Government taxes, levies, etc. are over and above Fees & Charges. 6. What if I need more than pre-approved amount? Once you get preapproved loan, you have option to apply for Top-up loan as well. 7. How do I foreclose my loan account? You can prepay/foreclose the entire loan outstanding any time after paying 12 instalments. Prepayment charges as applicable would be levied on the outstanding loan amount. The exact amount for pre-closure...

Prepayment or Foreclosure Charges There is a lock-in period of 12 months and one can not close the loan before that. After the lock-in period, one has to pay 4% of the remaining amount + taxes to close the loan. Approval Process After submitting the required documents, the bank approval could take up to five working days if it wishes to sanction the loan. • Loan Processing Fee: 2.5% charged at the time of disbursal of the loan • EMI Bounce Charges: INR 150 for every dishonored EMI beyond five days • Payment Dishonor Charges: INR 450 • Duplicate No Objection certificate/No Dues Certificate: INR 250 per request (the bank issued letter will be free of charge) • Cancellation/Rebooking Charges: INR 1000 per incident • Stamping Charges: Differs from state to state • Physical Repayment Schedule: INR 500 • Document retrieval charges (per retrieval): INR 500 • Credit Report: INR 50 Eligibility For Salaried Individuals: • Age Limit: 21 years to 60 years or retirement age, whichever comes first. • Income: INR 25,000. • Job Background: Should have completed two years in employment and minimum one year in the current organization. • Residential Background: If a rented accommodation then should be staying there for one year. For Self-Employed Professionals: • Age Limit: Between 25 years and 65 years(the loan should mature at this age). • Income: INR 4.8 lakh per annum. • Business Description: Should have been in the same business for four years. For Self-Employed Professionals: • Age Li...