Use IndusInd Bank Personal Loan for Fund Management

If you lack funds and find it difficult to manage high-end expenses then apply for a personal loan. IndusInd Bank provides loans to customers at an attractive interest rate with a long repayment duration. Using the loan amount you can meet your financial needs and pay the amount in equated monthly installments. Read the given article and know IndusInd Bank personal loan features and the current rate of interest.

IndusInd Bank personal loan and it’s basic eligibility criteria

To get a personal loan from IndusInd Bank you must meet the loan criteria, only then your application will be approved. Your minimum age must be 21 years and above or income should be INR 20,000 to apply for IndusInd Bank personal loan. You can get a loan from IndusInd bank without any hassle if your flow of income is regular whether you are salaried or self-employed.

The interest rate on your loan amount is levied based on your repayment history and income. You can borrow a maximum up to INR 15 lakh from IndusInd Bank for satisfying your financial needs. And, the IndusInd bank personal loan interest rate ranges from 10.99% to 16.00% per annum. The bank gives a repayment duration of 12 to 60 months to the borrower in which they can pay the loan interest and borrowed amount.

Calculate the interest and EMI using IndusInd Bank online tools

The bank provides online access to the EMI calculator to the customer. Using the IndusInd Bank personal loan EMI calculator one can generate the loan EMI. It is an easy to use device in which you are just required to enter the loan details. EMI calculator works in the formula [P x R x (1+R)^N]/[(1+R)^N-1], where P stands for Principal amount, R for interest rate and N for loan tenure. Suppose, if your borrowed amount is INR 8 lakh and interest rate is 12.55% then the EMI will be INR 18,109 with a total interest of INR 281,123.

How to apply for an IndusInd personal loan?

You can apply for a personal loan from IndusInd bank by visiting the bank nearest branch or using its online service. Fill up the loan application form and submit it to the bank along with the necessary documents. The documents which are required for the loan process are Aadhaar or PAN card copy, salary slip or bank statement and ITR report or form 16. When you submit the documents and application form then the process is completed and you don’t have to do any more work.

The bank takes a processing fee for the IndusInd Bank personal loan that is a minimum of 1% of the principal amount. After the loan sanction, you can fulfill your needs and pay the loan EMIs using a suitable payment method. Payment of the loan eMIs can be done using ECS, PDCs or auto-debit. So if you require funds for your wedding expenses, higher education, medical emergency or any other financial need then get personal loan from the IndusInd bank and solve your problems.