Highlights
- Check personal loan interest rates online.
- You must know the loan rates before applying for the loan.
To get a desired deal on loan, you must checkout all the options available in the market. You should compare the offers available at different lenders which you can do with the help of the calculator shown below. At IndusInd Bank, personal loans are provided by keeping into account the eligibility of the applicant. Below are the details of the product for your reference.
Apply Personal Loan @ 10.25%* Rate
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IndusInd Bank Personal Loan Interest Rates January 2023
Take a look at the tables below to know more about the updated interest rates of personal loan offered by the IndusInd Bank.
| Particulars | Details |
|---|---|
| Interest Rates | 10.49% - 31.50% |
| Minimum Income | INR 21,000 per month |
| Loan Amount | INR 25 Lakh |
| Repayment | Up to 5 Years |
| Processing Fee | Upto 3% + GST |
| Multipliers | 21 for Net income below 75K* 25 for Net income above 75 K** |
IndusInd Bank Personal Loan Rates in Detail:
| Net Monthly Salary | A+ / A | B/G/C1000 | C |
|---|---|---|---|
| <= 50k | 14.00% | 15.00% | 18.00% |
| 50.01 k-1.00 lac | 12.75% | 14.00% | 17.00% |
| 1.01 lac + | 12.00% | 13.50% | 16.50% |
Note: The above rates are applicable for Delhi, Mumbai, Hyderabad, Kolkata, Pune, Chandigarh and Bengaluru
| Net Monthly Salary | A+ / A | B/G/C1000 | C |
|---|---|---|---|
| <= 50k | 14.50% | 16.00% | 19.00% |
| 50.01 k-1.00 lac | 14.00% | 15.00% | 18.00% |
| 1.01 lac + | 13.00% | 14.50% | 17.50% |
Note: The above rates are applicable for other locations
IndusInd Bank Personal Loan Balance Transfer Rates
Servicing a personal loan somewhere else but at a rate higher than 10.99%-16% offered by IndusInd Bank? You can switch your existing loan to IndusInd Bank and pay the same at lower rates. This will go on to reduce the overall interest burden, at the same time, the EMI will also drop significantly. This facility can be opted by anyone who has an existing personal loan at higher interest rate and wants to shift to the IndusInd Bank personal loan facility because of lower rates. An applicant will need to pay a processing fee for this facility which will depend on the outstanding debt. With this facility, you can also opt for a top-up loan amount to fulfill your current financial needs. The balance transfer will require minimum documents.
How much Money Can You Save by this Balance Transfer Facility?
As we told you that you can transfer your outstanding loan amount with the help of the IndusInd Bank Balance Transfer facility. Let’s consider an example to know the savings you could make with a balance transfer.
Suppose an applicant has already a 5-year personal loan of INR 5 lakhs at 18% per annum. With this loan amount, the applicant must be paying EMI of INR 12,967. Let’s say that after paying EMIs for two years, the applicant wants to opt for an IndusInd Bank personal loan balance transfer facility at an interest rate of 12% per annum and get the same at IndusInd Bank. How much will he/she save on the said transaction? The table below will give us an answer.
| Loan Aspect | Details |
|---|---|
| Existing Loan Amount | INR 5,00,000 |
| Interest Rate | 18% |
| Tenure | 5 years |
| EMI at the current interest rate of 18% per annum | INR 12,697 |
| Estimated Interest Outgo at 18% per annum | INR 2,61,803 |
| Interest Paid till now | INR 1,55,921 |
| Outstanding Balance at the end of 2 years | INR 3,51,199 |
| EMI at the new interest rate of 12% per annum | INR 11,665 |
| Interest Outgo at the new interest rate of 12% per annum | INR 68,735 |
| Interest Paid till now + Interest for the remaining 3 years | INR 2,24,656 |
| Estimated EMI Saving | INR 1,032 per month |
| Estimated Interest Savings | INR 37,147 |
Frequently Asked Questions
1. What is the current Indusind personal loan interest rate?
Currently, the minimum interest on IndusInd personal loan is 10.49% per annum but it goes to a maximum of 31.50% per annum.
2. What is the interest rate of Indusind personal loan 2022?
The interest rate of IndusInd personal loan in 2022 is 10.49% onwards per annum with a maximum of 31.50% per annum
3. What is the rate of interest of 3 lakh in Indusind bank?
The interest rate on 3 Lakhs in IndusInd personal loan is 10.49% to 31.50% per annum. But the exact rate of interest depends on the relationship of the customer with the bank.
4. What is the interest of 7 lakhs in Indusind bank?
The interest of INR 7 Lakhs in IndusInd Bank is 10.49% to 31.50% per annum.
5. What is the interest of 5 lakhs in Indusind bank?
If you are borrowing a loan of INR 5 Lakhs then the interest rate on this loan will be 10.49% to 31.50% per annum.
6. What is the rate of interest of 10 lakh in Indusind bank?
The rate of interest on INR 10 lakhs in IndusInd bank is between 10.49% to 31.50% per annum.
7. What will be the interest rate of Indusind personal loans for senior citizens?
If a senior citizen is applying for a personal loan from the IndusInd bank then he will have to pay interest between 10.49% to 31.50% per annum.
8. What will be the interest rate of Indusind personal loans for women?
10.49% to 31.50% per annum is the interest rate charged by the IndusInd bank on the personal loan for women.
9. What is the IndusInd Personal Loan Customer Care number?
The Customer Care numbers for IndusInd Personal Loan is-
– 022-68577777
– 022-44066666
– 022-42207777
– 1860-267-7777
10. How can I negotiate with Indusind on the personal loan interest rate?
You can negotiate with the interest rate on the basis of your income and Cibil Score. If you have a high Cibil Score and a good income then you can ask the bank to reduce the rate of interest on the personal loan.