Living abroad often leaves you with a shortage of funds to sustain a diverse set of expenses. This could range from big-ticket expenses to sudden ones. To cover your expenses while living abroad, you can apply for a personal loan there. However, this may not be easy for NRIs due to a country’s banking infrastructure and regulations. Unless you gain citizenship or are in line to get one in your current country of residence, it's ideal to opt for personal finance from India.
As an NRI, you can apply for one with a renowned institution like the IndusInd Bank to take care of your emergency expenses or day to day sustenance.
Benefits of Opting for an NRI Personal Loan with IndusInd Bank
Apart from an exceptionally quick approval and disbursal process that comes in handy during an emergency abroad, IndusInd Bank’s personal loan for NRIs also features the following.
Low processing fees
If you’re worried about paying a processing fee in return for a seamless application and disbursal process, don’t! The Bank charges a nominal fee that is only a tiny percentage of your loan. The final processing fee will depend on your final application.
It’s understandable if you cannot quickly repay your personal loan. So, why not choose one that comes witha negotiable repayment tenure. Since the IndusInd Bank offers a broad tenure range for tenures that can vary from just a few days to several years, you can repay your loan at a comfortable pace.
Attractive interest rates
While taking a personal loan, the interest rate is often a point of contemplation for all individuals, including NRIs. The IndusInd Bank offers personal finance at competitive interest rates. This feature makes the loan more affordable, thus allowing you to borrow a higher sum which can easily cover hefty expenses.
Applying for an NRI personal loan at the IndusInd Bank does not warrant a great deal of paperwork. You need documents proving your NRI status along with KYC papers like PAN card, etc., and also your proof of income.
As this is an unsecured loan, you can avail it from the IndusInd Bank without pledging any collateral. Simply put, you don’t require a bank guarantee to be eligible for approval of a personal loan. This saves you the stress of keeping an asset collateral.
Over to you
If you need quick funds, why wander trying to apply for finance abroad? Simply visit the IndusInd Bank portal for personal loans for NRIs,fill out your application, upload required documents and get instant approval.
Before applying for this loan, you can also evaluate your monthly instalments with the Bank by using a personal loan EMI calculator available on their website.
Bid farewell to financial woes abroad with the help of a quick and hassle-free personal loan.