Case Study: Indusind Bank Ltd.

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IndusInd Bank Ltd. is a new generation Indian bank established in 1994. IndusInd Bank is considered as the first new generation private sector bank in India. It has always been tech-savvy and frequently adopts the latest technology available to the banking sector to stay updated and provide the best services to its customers. The bank has been expanding across the country with high global level service benchmarks.

IndusInd Bank has more than 1000 branches across the country with representative offices in London, Dubai, and Abu Dhabi. Among various financial products offered by the bank, personal loan is certainly the most favoured one due to high consumer satisfaction.

A detailed overview of the personal loan offered by IndusInd Bank is
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The minimum age of the applicant has to be 21 years at the time of application and the maximum age at the time of maturity should not be more than 60 years. The applicant must have a minimum monthly income of Rs. 25,000 along with total work experience of 2 years and minimum 1 year of work in the current organisation. The applicant also should have completed at least 1 year at the current residence if it is…show more content…
How to check the loan status?
A. Customers can check their loan status by logging in to the net banking service provided by the IndusInd Bank. Customers who do not have the net banking facility can call the customer care or send an email to the bank to know the status of their personal loan. It is advisable to call or send e-application to the bank for a detailed report of your loan status.

Q. Is it mandatory to have an account relationship with IndusInd Bank to avail personal loan?
A. Having an account relationship with the bank is not necessary to avail IndusInd Bank personal loan. However, IndusInd Bank customers have an upper hand since having an IndusInd Bank account certainly makes it easy for the borrower to make payments and repayments. It also eases up the overall procedure for the application of the personal loan.

Q. What are the repayment options available?
A. Borrowers can make the loan repayments in the form of Equated Monthly Instalments (EMIs) and pay them in cash, through cheque, or Electronic Clearance Service (ECS). Here, ECS can be considered as a highly convenient option as it saves a lot of time and trouble because the payment is automatically debited from the customer’s savings

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