Indusind Bank Personal Loan of 3 Lakh

Do you have an unexpected expense or a dream project you'd like to tackle? IndusInd Bank's personal loan can be your solution. This page will guide you through everything you need to know about securing a personal loan of up to ₹3 lakhs from IndusInd Bank, including its features, benefits, and the application process. Get ready for a fast, convenient, and potentially instant way to access the funds you need.

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Written By
Amrita Sinha
Amrita Sinha
Amrita Sinha comes with a background in journalism and mass communication, drawing from her roots in journalism, she has found her voice in the world of finance. As an accomplished writer, she specialises in Financial Services, Mutual Funds, Loan Assessments, Banking & Loan Products. She has established herself as a reliable expert in the field, offering valuable advice to those looking to navigate the various aspects of personal finance.
Reviewed By
Amit Prakash Singh
Amit Prakash Singh
Co-Founder, Square Yards & Chief Business Officer, Urban Money
Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

Personal Loan Options for 3 Lakh in IndusInd Bank

IndusInd Bank’s personal loan seems like a one-size-fits-all option for loans up to ₹3 lakh. You can apply for it easily online and repay at your own pace with minimal paperwork. 

Features of IndusInd Bank 3 lakh Personal Loan

Features of IndusInd Bank personal loan:

  • Apply online and get approved right away.
  • The application is designed to be quick and easy.
  • Choose a repayment plan that fits your budget.
  • They advertise good rates, but the rate depends on your credit score.
  • You can do everything online, saving you time.
  • Processing fees are advertised to be low.
  • They might not require someone to vouch for your loan.
  • Some banks let you borrow more after your initial loan (check for top-up loans).
  • Move expensive loans into this one, potentially saving money.

Can I Get a 3 Lakh Personal Loan Instantly From IndusInd Bank?

IndusInd Bank offers a streamlined process for securing a personal loan of up to ₹3 lakhs. Their online application facilitates a swift evaluation, potentially resulting in instant loan approval. Provided you meet the eligibility criteria and have all necessary documentation readily available, you can expect a prompt decision on your loan request. While the overall process is designed for efficiency, the disbursement timeframe may vary depending on individual circumstances.

What is the EMI for a 3 Lakh Loan?

Here is a table to get an idea about the EMI of a 3 lakh personal loan at an interest rate of 10.50%

Tenure(Years) Monthly EMI Total with Interest
1 26,445 3,17,335
2 13,913  3,33,908
3 9,751 3,51,027
4 7,681 3,68,689
5 6,448 3,86,891
6 5,634 4,05,626

Eligibility Criteria 3 Lakh Loan in IndusInd Bank

Here’s a look into the eligibility criteria and requirements for individuals seeking a 3 lakh Personal loan with IndusInd Bank:

Salaried:

  • Employment: Must be employed in a government or private sector 
  • Experience: A minimum of 5 years of post-qualification experience is required.
  • Income: A consistent income, evidenced by salary slips and bank statements.
  • Age: Between 25 to 65 years at loan maturity.
  • Credit Score: A good credit score indicates creditworthiness.

Self-employed:

  • Professional Stability: Must have worked in the business for at least 5 years.
  • Income Proof: Income should be verifiable through ITR filings, the practice’s bank statements, and any other relevant financial documents.
  • Age: The age range is usually between 25 to 65 years at the time of loan maturity.
  • Business Stability: The practice should be profitable and run for a minimum period as defined by the bank.
  • Creditworthiness: A healthy credit score is essential to demonstrate a good track record of credit usage and repayments.

Documents Required 3 Lakh IndusInd Bank Loan

Here is a comprehensive list of documents needed for a 3 lakh Personal loan:

For Salaried:

  • Proof of Identity (Aadhaar, PAN, Passport)
  • Proof of Residence (Utility bills, Rent agreement)
  • Proof of Income (Salary slips, Bank statements)
  • Educational Certificates

For Self-Employed:

  • Proof of Identity (Aadhaar, PAN, Passport)
  • Proof of Residence (Utility bills, Rent agreement)
  • Income Proof (ITRs, Profit & Loss statements, Bank statements)
  • Educational Certificates

How do you apply for a 3 lakh Personal Loan from Uban Money?

Get your 3 Lakh Indusind bank personal loan quickly with Urban Money’s easy application process:

  • Click the link we provided to visit our website’s personal loan section.
  • Look for the “Indusind Bank Personal Loan” option and click “Apply Now.”
  • Enter your basic details like name, phone number, and city. Then, confirm your phone number with a one-time code (OTP).
  • Once you submit the form, you’re all set! An Urban Money representative will contact you to collect any required documents.

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Frequently Asked Question (FAQs)

How long does it take for IndusInd Bank to approve a 3 lakh personal loan?

IndusInd Bank says their online application for a 3 lakh loan might be approved quickly, even immediately. However, depending on your situation, it could take a little longer.

What are the interest rate ranges for IndusInd Bank's 3 lakh personal loans?

The bank offers good interest rates for its 3 lakh loan, but the rate you get depends on your credit score (which is like a report card for your borrowing history).

Can I apply for a 3 lakh IndusInd Bank personal loan online?

Yes! You can apply for a 3 lakh loan from IndusInd Bank online. There is no need to visit a bank branch!

Are there any hidden charges in IndusInd Bank personal loan agreements?

It’s always a good idea to double-check with IndusInd Bank about any fees you might not see at first glance. Although they say the costs are minimal, it’s best to be sure.

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