How The IndusInd Bank Personal Loan Interest Rates Make Your Payments Affordable?

You can borrow a loan from IndusInd Bank at an interest rate of 11.00%-31.50% per annum. And the IndusInd bank personal loan interest rates are dependent on your income and credit history. If you have an income higher than the eligibility criteria then you can borrow a personal loan at a lower interest rate. Read the article and know how to manage Indusind bank personal loan EMI payment.

Use IndusInd Bank personal loan EMI calculator!

One of the most convenient ways to plan a loan repayment is to use the EMI tool. What is an EMI tool? IndusInd Bank personal loan EMI calculator is a tool in which the borrower has to enter the details such as loan amount , interest rate and tenure. And the tool generates the EMI amount as per the mathematical calculation of the formula P × r × (1 + r)n/((1 + r)n – 1).

What are the ways to reduce IndusInd Bank personal loan interest rates?

If you need a low personal loan interest rate then you just have to follow the mentioned pointers.

Add co-borrower: When you are unable to get a low interest rate on your IndusInd Bank personal loan, then you can increase your loan eligibility by adding a co-applicant to it. A guarantee will increase the loan limit and decrease the interest rate.

CIBIL score: You can come to the negotiable terms with IndusInd Bank if your CIBIL score is high. Yes, if the individual has a good repayment record then they can convince the lender to lower the interest rates. The ideal CIBIL score that will help you in doing so is 750 or above.

High income: To get a low IndusInd Bank personal loan interest rates on your loan amount, you don’t have to make any efforts when your salary is more than INR 25,000. The individual income should be higher than the minimum income criteria to get the low interest rate. 

Plan Repayment with IndusInd Bank personal loan EMI calculator!

If you are unable to get a low interest rate then no worry, you are still able to manage the payment easily if you choose the right tenure. IndusInd Bank provides a duration of 12 to 6 months to the borrower for the loan payment which you can choose as per your repayment capacity. See the example  to know how IndusInd Bank personal loan EMI calculator will help you in that process.

Suppose, you have borrowed a personal loan of INR 6 lakh at an interest rate of 13.50% per annum. The monthly salary is INR 35,000, so what will be the EMI amount that repays the loan quickly and fits in your budget? Find the EMI using IndusInd Bank personal loan EMI calculator and choose the tere accordingly. 

Loan Amount (INR) Interest Rate  (per annum) Tenure (years) EMI (INR) Interest Outgo (INR) Total Payment (INR)
6,00,000 13.50% 1 53,731 44,775 6,44,775
6,00,000 13.50% 2 28,666 87,989 6,87,989
6,00,000 13.50% 3 20,361 1,33,002 7,33,002
6,00,000 13.50% 4 16,246 1,79,798 7,79,798
6,00,000 13.50% 5 13,806 2,28,354 8,28,354