IndusInd Bank Limited is a Mumbai based Indian new generation bank, established in 1994. Founded by Srichand P. Hinduja, this Bank offers commercial, transactional and electronic banking products and services. It was inaugurated in April 1994 by the then Union Finance Minister Manmohan Singh. IndusInd Bank banking services prides itself for being the first amongst the new generation private banks in India. The Bank has earned specialization in retail banking services and it continuously upgrades its support systems by introducing newer technologies.
About Indusind Bank
It has also been adopting the requisite measures to expand its network of branches all across the country along with living up to the global benchmark.
IndusInd Bank has 800 branches and 1500 ATMs as of April 2016. It also has a representative office in London and another in Dubai. The maximum number of its branches is in Mumbai, followed by New Delhi and Chennai. IndusInd Bank services has made ‘Responsive Innovation’ as a central theme of its brand building program. In the recent past, IndusInd Bank finance has launched a number of unique services like, My Account My Number, Choice Money ATMs, Check-on-Cheque, Cash-on-Mobile, Direct Connect, Quick Redeem Service, and 365 Days Banking. Recently, the Bank came up with yet another innovative service called ‘Video Branch’ which enables customers to do video conference with the bank staff at their own convenience. This first-of-its kind initiative is part of its aim of connecting better with the customers, enhancing its visibility quotient, and reinforcing the brand statement “You Desire, We Deliver”.
Vision and Mission
The vision of the Bank is to emerge as a relevant business and banking partner to its clients. It aims to be customer responsive, always striving to collaborate with clients to provide solutions for their banking needs. The Bank aspires to be a forerunner in the market in terms of profitability, productivity, and efficiency. IndusInd Bank financial services is also committed to be engaged with all its stakeholders and will deliver sustainable and compliant returns. The Bank’s mission statement lays down that it will constantly add value to all its stakeholders and emerge as the ‘best-in-class’ in the chosen parameters amongst the comity of banks, by doubling its profits, clients and branches within the next three years.
IndusInd Bank Loans:
IndusInd Bank Home Loan: The Bank offers a wide range of home loan products that can be availed for a number of purposes, including – purchase of a new home (buying or constructing), home improvement (modifying/upgrading existing amenities and thereby increasing the life of the assets), home extension (expanding or adding space to the existing house) or even top up of housing loans. The scheme of home loan from IndusInd Bank is also accompanied by benefits like, doorstep service with fast and easy processing of loan application, transparent dealing with no hidden charges, simplified documentation, balance transfer facility, and funding up to 30 years of tenor.
IndusInd Personal Loan: be it home renovation, a dream vacation, or the purchase of consumer durables, personal loans from IndusInd Bank ensures a hassle-free process of procuring financial aid. Salaried employees (including salaried doctors, salaried Chartered Accountants, employees of select Public and Private Limited Companies, Government Sector employees including Public Sector Undertakings and Central, State and Local Bodies) with a minimum age of 21 years at the time of application are eligible for this loan. The maximum age limit at personal loan maturity is 60 years or retirement age, whichever is earlier. According to the IndusInd Bank personal loan eligibility norms, the minimum net monthly income of the applicant should be Rs. 25,000. Also, he/she should have completed at least 2 years in employment and minimum 1 year in the current organization.
Self-employed professionals (including self-employed doctors –MBBS and higher degree), Architects, Chartered Accountants, Company Secretaries, Engineers, and MBA consultants can also apply for this loan. He/she should be at least 25 years of age at the time of application, and the maximum age at loan maturity should be 65 years. The applicant should have minimum 4 years of post qualification experience, and his/her minimum annual net income post tax should be Rs. 4.8 lakhs. The eligibility criteria for self-employed individuals including self-employed sole proprietors, directors and partners in the business of manufacturing, trading, or services, are the same as mentioned above.
IndusInd Bank loan advantage is that the borrower can choose a loan tenure as per his/her convenience ranging from 1 to 5 years. One can also do away with high interest debt through Balance Transfer Option. The repayment options can also be chosen from IndusInd Bank a/c debit or ECS from other bank. Besides enjoying the convenience of doorstep service, the borrower can also be saved from the trouble of collaterals or guarantors. IndusInd Bank also offers tailor-made personal loans in multiple categories to cater to the numerous and varied reasons – Personal Loan for Education/Medical Expenses/Home Renovation/Wedding/Balance Transfer.
IndusInd Bank Loan Against Property: This loan can be availed for fulfilling any personal or business needs. It can be repaid comfortably over as many as 15 years. The borrower can unlock the hidden value of his/her residential or commercial property and use it for any desires purpose. It also comes with other benefits that include funding against rentals from commercial property, and takeover of existing loan with additional finance. Any individual employed permanently in any Public Sector Undertaking, Government Undertaking, Multi National Company, Listed public limited company or well-known private limited company can apply for this loan. IndusInd Bank loan details states that the minimum age should be at least 21 years of age at the time of application and maximum age at loan maturity should be lower than retirement age. Under the category of self-employed professional/non-professional, the eligible applicants include doctors, Chartered Accountants, Cost Accountants, Architects, Engineers, Company Secretary, and CFAs. Any individuals filling Income Tax returns can apply. The borrower should be at least 21 years of age at the time of loan application, while the maximum age at loan maturity should not exceed retirement age. With IndusInd Bank loan scheme, one can expect attractive interest rates, doorstep service, easy documentation and speedy approval.
IndusInd Bank Business Loan: The Bank provides business loans in the form of – working capital finance, export finance, term loan, trade, and unsecured business loans.