EMI Calculator
Personal Loans
Frequently Asked Questions - Personal Loans
1. Who is eligible to avail Easy Credit Personal Loan?
- 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 of the loan is available in the Foreclosure Letter issued by the bank. TAT (Turn Around Time) for issuance of a Foreclosure Letter is 15 working Days from the date of request.
8. Can I make part-payment of loan amount applicable?
Part prepayment is not allowed. The personal loan has to either be prepaid in full or serviced for the contracted tenure.
9. How can I repay my personal loan?
You pay the loan in equated monthly instalments (EMIs). The loan will be paid through E-Nach for other banks. You can also pay through a standing instruction to debit your IndusInd Bank account with the EMI amount.
10. What are the charges applicable?
The different charges are: Processing fee (up to 3% of the loan amount), GST on Processing fee (as applicable), Stamp duty (as per the applicant’s residence state), Insurance Premium, GST (wherever you opt for).
11. What security is needed to avail the loan?
To obtain the loan, there is absolutely no need to provide any security or collateral.
12. Is any guarantor required for availing the loan?
No guarantor is required for availing the loan.
13. Is it necessary to provide my current bank account statements?
Basis your PAN and employment details, an in-principle offer will be shown to you. If you need more amount than the offer displayed, you can choose to submit 6 months’ bank statements for us to offer the best amount that you are eligible for.
14. Whom can I reach out to in case of any help during the journey?
You can approach us in any of the following ways:
Call us at our 24 hour Customer Care number: 1860 267 7777 / +91 22
44066666
Write to us at reachus@indusind.com
15. Whom can I reach out to in case of queries/assistance required post disbursal?
You can approach us in any of the following ways:
Call us at our 24 hour Customer Care number: 1860 267 7777 / +91 22
44066666
Write to us at reachus@indusind.com
16. What all documents are required during video KYC process?
You would require Aadhar Card and PAN Card. If your current address doesn’t match your Aadhar Address, you will need additional current address proof (Driving License, Passport, etc.)
17. What are the other service charges associated with a Personal Loan?
You can view the service charges associated with a personal loan by clicking on the link.
18. What if I am not able to complete the journey at one go due to internet issues, technical issues, etc.?
You can always resume the journey from where you left off by providing basic details like your Mobile Number. Click here.
