What is the Loan Eligibility Calculator of IndusInd Bank?


IndusInd Bank Personal Loan
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IndusInd Bank offers you a lump sum amount at an attractive rate of 11.50% per annum. And if you want to get a lump sum amount from the bank, there’s a criterion that you need to meet. If you don’t meet the eligibility, a loan won’t be offered to you. To check your eligible loan amount, use the  Loan Calculator of Indusind Bank. This eligibility tool helps you know your credit limit for Indusind Bank Personal Loan. For more details on the loan eligibility calculator, read this page below.

Check Out the Advantages of Loan Eligibility Calculator IndusInd Bank

With the help of this calculator, you can get the following benefits –

  • Know Loan Limit – You can find your loan eligibility in a few easy steps. Just insert your details and know your loan amount. 
  • Compare Offers – Check whether IndusInd Bank Personal Loan is better than other competing offers.. 
  • Negotiation Power – If you’re highly eligible for an IndusInd Bank Personal Loan, it means you can negotiate for a lower rate of interest.

How Does the Indusind Bank Loan Eligibility Calculator Work?

 You can use this calculator by inserting your details such as –

  • Employment type
  • Monthly income
  • Monthly obligations
  • Current EMIs
  • Loan Tenure

Once you enter these details, the calculator will generate your eligible loan amount. Click on the ‘Apply Now’ button, which pops on your screen, and proceed with the loan application. 

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Let’s see the below example of the IndusInd Bank Eligibility Calculator –

Aamir is a 30-year-old MNC employee who earns a monthly salary of INR 30,000. He needs a lump sum amount of INR 4 Lakh for his knee surgery. So, he searches for personal loans and comes across two offers one is from IndusInd Bank and one from an NBFC. 

The NBFC offers Aamir a loan limit of INR 4 Lakh at an interest rate of 16.00% per annum. He doesn’t know the IndusInd Bank offer so he uses the loan eligibility calculator. According to the online tool, Aamir can borrow up to INR 4,50,000. 

What Affects My Eligibility for an IndusInd Bank Personal Loan?

The following are the factors using which IndusInd Bank decides your loan eligibility for IndusInd Bank Personal Loan –

  • Age  – 21-60 years and 25-65 years age criterion for salaried and self-employed applicants, respectively. These eligibility criteria of IndusInd Bank Personal Loan help determine whether you’re old enough to earn a regular income or too old to do so.
  • Income – You need to earn the least amount as specified to borrow an IndusInd Bank Personal Loan. The minimum income requirement for salaried is INR 25,000. Whereas, from a self-employed, IndusInd Bank requires a net annual income of INR 4.8 Lakh.
  • Experience – An experienced business owner or employee tends to have a fixed source of income. So, if you’re salaried, you should have two years of experience in employment and a minimum of one year in the current organization. For self-employed applicants, the required post qualification experience is four years for professionals and five years for non-professionals.
  • Years Spent in the Current Residence – You should have spent a minimum of one year of stay at the current residence if you are a tenant. This is because the bank needs the permanent address of the borrower. Someone who has just moved into a new house won’t be eligible for an IndusInd Bank Personal Loan.
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Submit the Correct Documents to IndusInd Bank

To prove your eligibility to IndusInd Bank, you need to submit the following documents –

  • Identity Proof such as Aadhaar Card, PAN Card, Driving License
  • Form 16, ITR for the last three years
  • Latest three months bank statements in which your salary is credited

By checking the above documents, the bank knows your Personal Loan Eligibility and you can check online for IndusInd Personal loan EMI Calculator. In case of misinformation or fraud, your loan application will be rejected immediately.

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