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IndusInd Bank Personal Loan Eligibility

Check your Eligibility for an IndusInd Bank Personal Loan. Learn more about the credit score, income, age and other categories to qualify for the best loan offers from IndusInd Bank.

Personal Loan Eligibility Criteria

Explore the essential eligibility requirements for an IndusInd personal loan. From age and income thresholds to employment type and credit score benchmarks, learn what it takes to qualify for the best loan offers tailored to your financial needs.

IndusInd Loan Eligibility Criteria
Eligibility FactorMinimum RequirementImpact on Loan Eligibility
IncomeMinimum ₹25,000/month (varies based on the loan amount and applicant's location).Higher income enhances eligibility by reducing the risk of default.
Credit ScoreA credit score of 750 or above is preferred.A higher score improves chances of approval and may qualify for better interest rates.
Employment StatusSalaried individuals with at least 2 years of work experience; self-employed with a stable business income.Stable employment or business history signals financial reliability to lenders.
AgeBetween 21 and 60 years for salaried; up to 65 years for self-employed.Applicants closer to retirement age may face stricter criteria or shorter loan tenures.
Fixed Obligations to Income Ratio (FOIR)Below 40%-50%, including EMI obligations.A lower FOIR indicates better repayment capacity, increasing the likelihood of approval.
Eligibility Criteria for IndusInd Bank Personal Loan
Age: 
• Salaried: 21 to 60 years
• Self-Employed: 21 to 65 years
• (Age at the time of loan maturity should not exceed the specified limits.)
Income: 
• Salaried: Minimum monthly income of ₹25,000 (varies by location and loan amount).
• Self-Employed: Adequate and steady business income as validated by income tax returns and bank statements.
Employment Status: 
• Salaried: Minimum of 2 years of total work experience with at least 1 year in the current organization.
• Self-Employed: At least 3 years of stable business operation with verified income documentation.
Credit Score: A score of 750 or above is preferred to demonstrate good creditworthiness. Lower scores may reduce chances of approval.
Loan Tenure and Amount:
• Loan Amount: ₹50,000 to ₹15,00,000 (subject to income and repayment capacity)
• Tenure: Flexible, ranging from 12 to 60 months.
Fixed Obligations to Income Ratio (FOIR): FOIR should be below 50%, including existing EMI obligations.
Banking Relationship: Existing IndusInd Bank customers may benefit from preferential terms or faster approval. These eligibility factors are indicative and may vary based on IndusInd Bank’s internal policies and applicant profile
Documents Required for IndusInd Bank Personal Loan
Identity Proof (any one):
  • PAN Card
  • Aadhaar Card
  • Passport
  • Driving License
  • Voter ID
Address Proof (any one):
  • Aadhaar Card
  • Passport
  • Utility Bills (Electricity, Water, or Gas)
  • Rental Agreement (if applicable)
Income Proof:
• For Salaried Individuals:
  • Latest 3 months’ salary slips
  • Form 16 or Income Tax Returns (ITR)
  • Latest 6 months’ bank statements showing salary credit
• For Self-Employed Individuals:
  • Income Tax Returns for the last 2-3 years
  • Audited financial statements (Profit & Loss and Balance Sheet)
  • Business continuity proof (Trade license, GST registration, etc.)
Photograph: Recent passport-sized photograph
Loan Application Form:Duly filled and signed loan application form as per IndusInd Bank’s requirements.
Employment Proof (For Salaried):Appointment letter or ID card issued by the employer. This documentation list may vary based on the applicant's profile and IndusInd Bank’s policies
How to Improve Your Eligibility for IndusInd Bank Personal Loan
Maintain a High Credit Score:
  • Aim for a credit score of 750 or higher by paying all EMIs and credit card dues on time.
  • Avoid excessive credit inquiries that could lower your score.
Showcase Stable Income: 
  • Ensure your income meets or exceeds the bank's minimum requirement
  • Provide complete and accurate income proof, such as salary slips or audited financial statements.
Lower Your FOIR (Fixed Obligations to Income Ratio):
  • Reduce your existing debt obligations to improve repayment capacity.
  • Pay off smaller loans or consolidate debt to keep your FOIR under 50%.
Choose a Suitable Loan Amount:
  • Apply for a loan amount that aligns with your repayment capacity and income level.
  • Avoid overleveraging to maintain credibility with the bank.
Strengthen Your Employment Profile:
  • For salaried individuals, ensure at least one year of work experience in the current job.
  • Self-employed individuals should demonstrate business stability through consistent income over the past 2-3 years.
Build a Relationship with IndusInd Bank:
  • Maintain an active account or other banking relationships with IndusInd Bank.
  • Existing customers often enjoy better terms and quicker approvals.

These steps can enhance your profile and maximize the chances of approval for an IndusInd Bank personal loan

For more information please check IndusInd Bank Eligibility

FAQs for IndusInd Bank Personal Loan Eligibility
What is the minimum income requirement to apply for an IndusInd Bank personal loan?
The minimum income requirement is ₹25,000 per month for salaried individuals. For self-employed applicants, a stable business income validated by financial documents is required.
A credit score of 750 or above is preferred for better approval chances and competitive interest rates. Lower scores may result in stricter terms or rejection.
Yes, self-employed individuals can apply. They need to demonstrate a stable income with at least 3 years of business continuity supported by income tax returns and financial statements.
Applicants must be between 21 and 60 years for salaried individuals and up to 65 years for self-employed individuals at the time of loan maturity.

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