how to take loan from IndusInd Bank ? In today’s time, loans have become an important means to meet any financial requirement. Whether it is for buying a house, expanding the business, or for education, loans play an important role in our lives. IndusInd Bank offers different types of loans to its customers, which are according to their needs. In this article, we will tell you in detail about the process of taking a loan from IndusInd Bank.
Different types of IndusInd Bank loans
IndusInd Bank offers different types of loans, such as:
- Personal loan: A loan taken without pledging any property to meet personal requirements.
- Home loan: A loan given for buying, constructing or renovating a house.
- Vehicle loan: A loan given to buy a car, bike or other vehicle.
- Education loan: A loan given as financial assistance for higher education.
- Business loan: A loan given to expand the business or start a new business.
how to take loan from IndusInd Bank ? Loan Eligibility
There are some basic eligibility conditions to get a loan from IndusInd Bank:
- Age limit: The applicant for a personal loan should be between 21 and 60 years of age.
- Source of income: There should be a permanent source of income, such as salary, business, or other.
- Credit score: It is important to have a good credit score. IndusInd Bank usually asks for a credit score of more than 750.
- Proof of residence: It is important to be a permanent resident, and provide proof of residence such as electricity bill, ration card, etc.
Required documents
You need to submit the following documents while applying for a loan:
- Identity proof: Aadhaar card, PAN card, passport, voter ID.
- Address proof: Electricity bill, water bill, telephone bill, ration card.
- Income proof: Salary slips, income tax returns, bank statements.
- Proof of business (for business loans): Business registration certificate, income certificate.
Application Process | how to take loan from IndusInd Bank ?
You can apply for a loan from IndusInd Bank through the following methods:
Online Application: You can easily apply online by visiting the official website of IndusInd Bank. Select the loan category on the website and fill and submit the form.
Apply at Bank Branch: You can also apply by visiting your nearest IndusInd Bank branch. The bank officials will help you fill the application form.
Phone Banking: You can also apply for a loan by calling the IndusInd Bank customer care helpline.
Loan Approval and Disbursement
After verifying your application, your loan is approved by the bank. This can usually take 3 to 7 days. Once the loan is approved, the loan amount is transferred to your bank account.
Interest Rates and EMI Calculation
IndusInd Bank offers competitive interest rates on different types of loans. Interest rates on personal loans usually range between 10% and 18%. Home loan interest rates can range between 6.5% to 8.5%.
To calculate the EMI (equal monthly installment), one can use the EMI calculator available on the bank’s website. This allows you to calculate the monthly installment based on your loan tenure and interest rate.
Loan Repayment Process | how to take loan from IndusInd Bank ?
The loan repayment process is very simple. You pay a fixed amount every month through EMI. You can make this payment through auto debit from your bank account, cheque or net banking.
Consequences of delayed loan repayment : If you do not repay your loan EMI on time, it can affect your credit score. Also, the bank can levy late payment charges on you. Therefore, it is extremely important to repay the loan on time.
Conclusion
The process of taking a loan from IndusInd Bank is simple and straightforward, if you meet all the required documents and eligibility conditions. The bank offers different types of loans, which are according to your financial needs. If you want to make your dreams come true, then fulfill your goals by taking a loan from IndusInd Bank.
Through this article, we have given you detailed information about the entire process of taking a loan from IndusInd Bank. We hope that this information will prove useful for you.