Indus India Personal Loan
Indus India Bank, better known as IndusInd Bank, is a private sector bank operating out of Mumbai, Maharashtra. One of the fastest growing private banks in India, IndusInd has more than 600 branches and 1200 ATMs throughout the country. It has a major presence in Mumbai, followed by New Delhi and Chennai. Apart from the national branches, Indus India bank also has representative offices (RO) in Dubai and London.
About Indus India personal loan
IndusInd Bank provides personal loans for Indian residents in 16 cities around the country. The list of cities is as follows:
Bangalore, Chennai, Hyderabad, Ahmedabad, Mumbai, Navi Mumbai, Pune, Thane, Chandigarh, New Delhi, Faridabad, Ghaziabad, Gurgaon, Jaipur, Kolkata, Noida.
With the Indus India personal loan, you can fulfil your dreams right now - whether you want a long holiday, there is a marriage in the family, you are buying a gift for a special someone, or simply trying to fill up your house! IndusInd provides hassle-free and quick personal loans that will cover your needs and then some.
Why choose Indus India personal loan?
Established in 1994, IndusInd has seen tremendous growth over the years, and is currently planning to double its branch strength in India to more than 1200 branches. It has posted consistent profit figures through the years.
IndusInd Bank has been acknowledged for its exceptional services by leading industry publications, media outlets, and banking and financial institutions, among others. It has been awarded the ‘Best Mid-size Bank’ by Businessworld-PwC and also by Business Today-KPMG, ‘6th Most Trusted Private Bank in India’ by Brand Trust Report, and various ‘Information Security’ and ‘Environmental Best Practices’ awards from reputed Indian and international institutions.
Features of Indus India personal loan
IndusInd provides speedy disbursal, quick processing, and simple documentation in loan applications. IndusInd personal loans are available for salaried professionals, self-employed professionals, and self-employed individuals.
- Flexible loan tenures available
- 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
What are the interest rates on Indus India Bank personal loan?
What are the eligibility criteria for Indus India personal loan?
Interest rates on Indus India bank personal loans range up to 23% p.a.
| Personal Loan Interest Rate | Up to 23% per annum |
| Documentation fees | ₹ 5,000 |
| Processing fee | 2.5% of overall loan amount plus taxes |
| Loan Tenure | 12 months to 60 months |
| Age limit | 21 years to 60 years (Salaried); 25 years to 65 years (Self-employed) |
| Processing time | 7 days |
| Penal Charges | ₹ 150 plus taxes per EMI delay after 5 days |
| Prepayment charges | 4% of outstanding loan amount after 12 EMIs (Salaried), after 6 EMIs (Self-employed) |
| Amortization schedule | ₹ 250 plus taxes |
| Rescheduling charges | ₹ 1000 plus taxes |
| PDC replacement charges | ₹ 500 on every Swap per instance plus taxes |
| No dues duplicate | ₹ 250 plus taxes |
| Loan cancellation | ₹ 1,000 plus taxes |
| CIBIL copy | ₹ 50 plus taxes |
| Transaction records copies | ₹ 250 per request |
IndusInd defines 3 categories of loan takers – Salaried, Self-employed professional, and Self-Employed individual.
For salaried employees
Salaried employees, as defined by Indus India Bank, include chartered accountants, doctors, select private and public sector employees, PSU and central government employees, and government state and local body employees.
- Available for designated employees categorized within 21 years to 60 years of age.
- Monthly net income shouldn’t be less than ₹ 25,000.
- 2 years minimum overall experience, and 1 year minimum experience in present company.
- For people availing rented accommodation, they must have resided for at least 1 year in the present residence.
Self-employed professionals as defined by IndusInd include architects, self-employed doctors and CAs, engineers, company secretaries, as well as MBA consultants.
- Applicants’ age should be within 25 years to 65 years.
- Net annual income to be more than ₹ 4.8 lakhs.
- Minimum 4 years of experience post qualification.
Self-employed individuals include partners, directors, and sole proprietors involved in services, trading, or manufacturing businesses.
- Age of the applicant should be within 25-65 years.
- At least ₹ 4.8 lakhs in net income.
- At least 5 years of experience post the relevant qualification.
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