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How to ClaimZero Processing Fees on an Instant Personal Loan Application
Posted on Saturday, February 4th, 2023 | By IndusInd Bank
A personal loan is a perfect solution for you when you require extra cash for urgent expenses. However, before you apply for a personal loan, it is important to know about the fees which are attached to it. These fees add up to the total personal loan amount you want to borrow from the bank. This post will discuss the processing fee, and its purpose, along with the details on how you can claim zero processing fee on an instant personal loan application. So, if you are thinking about taking a personal loan to fund a trip, plan a wedding, invest in an education degree or more, make sure to read along.
What is a personal loan, and why do you need it?
A personal loan is a multipurpose and unsecured loan that you can use for any purpose. You can avail of a personal loan from IndusInd Bank for an interest rate as low as 10.49%.
It is a simple and quick process to apply for an instant personal loan online with IndusInd Bank .The process is completely digital and you need no physical documentation.YAll you need is your PAN and Aadhaar details to get started with the online application. When you apply for a personal loan, the bank checks your salary, age, income, and employment status, among other factors to check your eligibility. Once your application gets approved, the amount gets disbursed directly in your account.
In addition, IndusInd Bank offers one of the most affordable personal loans in India, so apply for it to take care of all your big and small ticket purchases in life without burning a hole in your savings or emergency funds.
Personal loan charges
One of the most common charges that you will come across while applying for a personal loan is a processing fee. Let’s find out more.
Processing fee
There is a fee attached to your loan application. This is a one-time fee and is usually a certain percentage of the total personal loan amount. The banks have to bear certain administrative costs to process and sanction your loan amount. The processing fee is a one-time and is a small amount, which varies from bank to bank.
At IndusInd Bank, the processing fee is up to 3% of the total personal loan amount, which the borrower must pay. The processing fee get deducted from the sanctioned personal loan amount at the time of disbursal.. For example, if you take a personal loan of INR 50,000 for a tenure of 1 year, the processing fee for a personal fee charged by IndusInd Bank may be between INR 500 – 1500.
Therefore, it is important to get in touch with the bank to know about the processing fee before applying for the instant personal loan.
Why know about the processing fee before applying for the loan?
With processing fee taking up as much as 3% of the loan amount, it becomes a critical factor to review it before taking the personal loan. However, there is a great way to not pay for the processing fee altogether. IndusInd Bank launches various offers on personal loans from time to time. It is currently offering an Instant Personal Loan with ‘zero processing fee’ for a limited time period. So, make sure to get the best value for your money by applying for IndusInd Instant Personal Loan right away.
Note:
Zero Processing Fee is a Limited Period Offer and valid only on Online Applications. For offer details, visit: tinyurl.com/ZeroPF
Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.
