All posts by IndusInd Bank

When buying a two-wheeler in India, it is important to learn all about two-wheeler loans and then choose the right financing option. IndusInd Bank provides attractive interest rates, flexible repayment options, quick processing, and wide-ranging loan amounts.

Cost-effective and convenient, a two-wheeler remains the preferred mode of transport for millions of Indian families across the country. While not all bikes and two-wheelers are steeply priced, many people prefer to take out a two-wheeler loan for various reasons. When it comes to funding your two-wheeler purchase in India, it’s important to evaluate your financing options. With numerous choices available, understanding the features and benefits of each can help you make an informed decision. In this blog post, we will explore the best way to finance your two-wheeler purchase, focusing on the advantages of a bike loanfrom IndusInd Bank.

What is a Two-Wheeler Loan?

A two-wheeler loan is a financing option that allows individuals to purchase a bike and repay the amount in easy instalments over a specific predetermined tenure. It is a secured loan wherein the two-wheeler itself serves as the collateral. These loans are provided by several leading banks and non-banking financial companies (NBFCs).

4 Factors to Consider While Choosing a Two Wheeler Loan

Given the numerous two-wheeler loan options available, one must carefully consider several factors while choosing a bike loan. Here are four of the most important factors to take into account:-

Interest Rate: Compare bike loan interest rates to find a loan that suits your repayment abilities.
Tenure: Choose a repayment tenure and pocket-friendly EMI plan that will fit your budget and not put a strain on your finances.
Relationship with Bank: Explore loan options from your current banking partner for favourable terms and preferential rates.
Eligibility Criteria: Evaluate lenders’ eligibility criteria based on age, income, employment, and credit history to find a suitable match.

Key features of two-wheeler loans:-

Competitive Interest Rates: Bike loan interest rates are competitive due to an array of options, but may vary based on factors such as credit score, age, income, and relationship with the issuing bank or financial institution.
Secured Loan: The two-wheeler serves as collateral, making it a secured loan option.
Flexible Loan Tenure: Loan durations typically range from 1 to 5 years, allowing borrowers to choose a tenure based on their repayment ability.
Convenient Application: Existing bank account holders can easily apply for a loan at the same bank.
Showroom Tie-ups: Many bike showrooms have partnerships with banks, enabling customers to apply for a loan during the purchase process.
Minimal Documentation: The application process typically involves minimal documentation, ensuring a simple and hassle-free experience for applicants.

Why Choose IndusInd Bank’s Two-wheeler Loan Solutions

A two-wheeler loan from IndusInd Bank is a great way to help you realise your dream of owning a bike. Here’s what makes IndusInd Bank the ideal choice for a two-wheeler loan:

Attractive Interest Rates: IndusInd offers some of the most competitive bike loan interest rates across India.
Flexible Repayment Tenures: IndusInd Bank gives you the freedom and flexibility to choose from tenures ranging between 12-36 month for regular two-wheelers and up to 60 months for high-end, fancier bike models.
Quick Loan Processing: The processing time is as low as 4 hours. Additionally, IndusInd Bank offers doorstep documentation services for your two-wheeler loans.
High Loan Amounts: Get up to 95% finance on the on-road price of your two-wheeler with loans starting from as little as INR 15, 000, to as much as INR 25 lakhs.

Whether you’re self-employed or salaried, IndusInd Bank makes it easy for you to get the bike of your choice with minimal eligibility criteria. You could even use IndusInd Bank’s Two Wheeler EMI Calculator to calculate and select a payment plan that suits you. All those above 21 years of age and with a stable source of income (above the threshold of INR 10, 000 per month for salaried individuals) can fill out the application form online.

So if you are looking to buy your dream vehicle, opt for IndusInd Bank’s two-wheeler loan for an easy, hassle-free experience. Apply for a bike loan today!

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.

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Savings Account

Newly Married? Get a Joint Savings Account First

August 9, 2023 IndusInd Bank Leave a comment

When you’re newly married, your expenditure increases & you spend on different things with your partner. To keep finances streamlined and transparent, married couples can use a joint bank account. Such an account offers multiple benefits, both monetary and in terms of relationship satisfaction.

A marriage marks a new beginning for two people, and the union of their dreams, goals, and aspirations. That said, the foundation of a happy, stable home is a solid financial base. The spending patterns and requirements of married couples vastly differ from those of single individuals, and a Joint Savings Account helps you share your finances along with your aspirations with your partner.

Several banks offer attractive options for married couples to get a Joint Savings Account. The following are some of the biggest benefits –

Advantages of Joint Savings Accounts for Married Couples

Easier, low-effort lifestyle:

With a joint account and shared access to funds, each can seamlessly make payments without having to separately withdraw money from individual accounts for mortgages, EMIs, rent, groceries, utilities, etc. If a couple is splitting expenses, it wastes time for both to withdraw or transfer amounts from their own accounts every time they need to pay a bill.

Financial transparency:

Any couple with a joint account will always know how their shared income gets spent. They wouldn’t have to ask their spouse; all the information would be visible on their bank statement. This generates trust and also makes it easier to make financial decisions together.

Simplified decision-making:

A joint savings account makes it easy to look over and manage finances. A single statement provides the complete picture of all your income, spends, and savings. Having this information easily available from a single source gives you all the context you need to plan for the future.

Establish realistic goals:

When you have a clear idea of what you are earning and spending regularly, you find it easier to estimate what you can afford. This enables a couple to set realistic goals for their future, be it the purchase of a house or setting aside money for their children’s education. It also helps them decide reasonable timelines for achieving each goal.

Establish trust and camaraderie:

The Pooling Finances and Relationship Satisfaction study found that couples sharing finances via a joint bank accountwere much happier than those who didn’t share finances or shared them partially. The group that didn’t share an account or expenditures was found to be the least happy of the three groups.

Manage Finances Effortlessly as a Couple with Indus Partner

The Indus Partner Joint Savings Account from IndusInd Bank has been designed to help couples and households manage their savings with minimal hassle. It offers a wide range of attractive services and offers to match the needs of a shared household, while providing the best banking solutions.

A few standout features of Indus Partner are as follows:

Get 100% off on a small or medium locker for the first year, and 50% off from the second year onwards
Complimentary Times Prime Annual Membership voucher
Use your IndusInd Bank Debit card & get up to 20% off on Swiggy and Big Basket
Get free Zero Balance accounts for family members and group accounts of up to 4 family members to enjoy relationship benefits across all grouped accounts.
Free movie tickets on bookmyshow.com worth INR 5600 for both card holders in a year
Complimentary airport lounge access (available to both partners using their individual Signature cards)
Unlimited free ATM withdrawals at ATMs across the country
Availability of quick loan facility with a 10% discount on Loan Processing Fee.
Complimentary Insurance cover worth INR 33.5 lakhs with the Visa Signature Debit Card
Irresistible offers on shopping, travel, and fashion
AMC Waiver for your Demat Account for one year
Free FastTag for your Car

Best of all, deals such as free movie tickets, discounts on online food delivery and groceries, and cashback on your debit card are available with each card held by each partner, doubling the benefits and joy!

Share your finances and multiply your benefits with the Indus Partner joint bank account. Open a joint bank account online today!

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Manage your Finance

Best Car Loan in India 2023

August 8, 2023 IndusInd Bank Leave a comment

With competitive interest rates, convenient repayment options, and quick approval, an IndusInd Bank car loan is the ultimate choice to fulfil your dream of owning a car in 2023.

Whether commuting to work, running errands, or going on long road trips, having a car gives you unparalleled convenience and freedom. Although cars can be expensive, getting a car loan can make it easier to buy one. Almost all leading banks in India offer car loans with affordable interest rates. If you are interested in purchasing a car and searching for the best car loan, look no further than IndusInd Bank.

With its attractive features, competitive interest rates, and hassle-free application process, an IndusInd Bank car loan is the finest choice. This blog-post will provide an in-depth understanding of IndusInd Bank’s car loan eligibility, benefits, and application process.

IndusInd Bank Car Loan Benefits

IndusInd Bank car loan is designed to provide convenience and value to borrowers. Here are some of the key benefits:

Easy Documentation Process	IndusInd Bank offers simple, quick and easy loan documentation with doorstep assistance.
Quick Loan Approval and Disbursal	Quick and hassle-free loan approval and disbursal processes allow you to purchase your car immediately.
Competitive Interest Rates	Offers competitive and convenient interest rates within your budget.
Repayment Tenure	Easy and flexible repayment tenure of up to 60 months allows you to select a convenient repayment schedule.
Higher Loan Amount	You can get 100% finance on new car loans. Obtain a loan amount up to 25 lakhs.

Eligibility Criteria & Documentation for IndusInd Bank Car Loan

To apply for a car loan online with IndusInd Bank, you must meet certain eligibility criteria and provide specific documentation. Here are the general requirements:

For Salaried Individuals:

Eligibility

The minimum income should be INR. 2.5 lakhs per annum
Age must be between 23 years and 60 years
Stable employment for a minimum of three years, with at least one year in the current job
Two years of residence stability in the city and one year at the current residence; no stability is required for those who own their house

Documents Required

Income Proof

Latest Form 16 or Income Tax Returns
Last 3 months’ salary slips
Last 3 months’ bank statements

For Self-Employed Individuals:

Eligibility

Minimum income of INR 3 lakhs per annum, according to the latest ITR
Age must be between 23 years and 65 years
Business stability of at least three years
Residence stability of two years in the city and one year at the current residence; no stability required if you own a house

Documents Required

Income Proof

Last 2 years’ Income Tax Returns with IT computations
Last 3 months’ bank statements
Business Incorporation Certificate or any other Business Proof

IndusInd Bank Car Loan Application Process

Follow the steps given below to apply for a car loan online with IndusInd Bank:

Visit IndusInd Bank’s car loan webpage
Click the “Apply Now” button and choose the type of car loan you require
In the next step, enter a few basic details, such as your Name, Mobile Number, PAN, and pin code
Once you have submitted the details mentioned above, an IndusInd Bank agent will contact you and explain the features and the procedure of applying for a car loan

Alternatively, you can reach us via:

Phone: You can give us a call at 18001023333 or 04445455555 (two-wheelers)
Visit our branch: You can visit one of our branches in person. Click here to locate the nearest branch
Email: You can contact us via email with your inquiry at reach4loan@indusind.com

Apply for a car loan with IndusInd Bank today and experience the joy of driving your dream car!

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Savings Account

Maximizing Comfort and Convenience: Insider Tips for Lounge Access on DC

August 7, 2023 IndusInd Bank Leave a comment

Elevate your travel experience to unprecedented levels of convenience, luxury, and exclusivity with IndusInd Bank’s PIONEER Debit Card. Enjoy food, beverages, and lounge access on your DC and travel like never before.

Are you an IndusInd Bank PIONEER Debit Card holder? Congratulations! Your nifty little debit card (DC) is the key to unlocking a world of luxury, convenience, and benefits. IndusInd Bank offers its PIONEER customers complimentary lounge access on DC, at all major domestic and international airports across the country.

The PIONEER Debit Card is designed for those who have a taste for the finer things of life. If you believe in globetrotting in style, this card will open up a world of indulgences to you as you travel the country. Say goodbye to crowded and uncomfortable waiting areas as you wait for your flight or sit around during a layover. Avail your complimentary lounge access with your PIONEER Debit Card.

Here are some insider tips to help you make the most of your PIONEER card’s lounge access privileges.

How can you enjoy lounge benefits?

IndusInd Bank’s PIONEER Debit Card is a state-of-the-art contactless card offering a world of features and privileges. Currently, the lounge access on DC programme is applicable at all major domestic and international airport lounges in India. To get lounge access on DC, simply swipe your debit card at the electronic card reader placed at the entry of the lounge. Once your debit card is successfully authorized, you can gain access to the lounge and enjoy comfort, food, and beverages as applicable.

Frequent flyer? No worries

If your idea of travel is an experience filled with comforts and luxuries, you will certainly appreciate a debit card that gives you complimentary lounge access. An airport lounge is the perfect place to enjoy scrumptious meals and free Wi-Fi as you wait to board your flight.

IndusInd Bank is committed to providing its PIONEER cardholders with utmost comfort and convenience. If you travel frequently, there is no need to worry about your lounge access on DC expiring. You can visit any of our authorized lounges up to two times per quarter per card.

Traveling? Get free lounge access here

Whether you’re a PIONEER Visa or MasterCard Debit Card holder, click here for the complete list of locations where you can enjoy complimentary lounge access on DC. Do keep in mind the operational hours for the lounge of your choice.

Get your PIONEER Debit Card Today

Think PIONEER, think exclusive privileges. In addition to complimentary lounge access, this card offers free movie ticket vouchers, zero cross-border markup, complimentary golf access, and a rewarding benefits program. Open an IndusInd Bank Savings Account to get your PIONEER Debit Card and unlock travel experiences that match your lifestyle!

To know more about the PIONEER program, visit us today. To make an enquiry about the PIONEER Debit Card, you can fill this form out.

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Investment

Is CBDT Tax Direct or Indirect?

August 5, 2023 IndusInd Bank Leave a comment

The Central Board of Direct Taxes (CBDT) is a statutory body under the Department of Revenue in the Ministry of Finance. CBDT oversees the complete administration of direct taxes in India through the Income Tax Department. Pay your direct taxes to CBDT with IndusInd Bank’s smooth payment process.

Central and State Governments in India collect several types of taxes from eligible citizens. Put simply, a tax is a mandatory fee levied by a government to collect revenue from individuals and business entities. Taxes form a major part of any government’s revenue, which is used to provide infrastructure and services to the nation. Failing to deposit tax as mandated by a country’s law can attract serious penalties. Thus, as a responsible citizen, it is imperative to pay your taxes.

Governments collect taxes in many forms; majorly, taxation can be divided into two categories – direct and indirect taxes, depending on how they are collected.

In this article, we take you through both direct (CBDT) taxes as well as indirect taxes.

What is CBDT and CBDT taxes?

The Central Board of Direct Taxes (CBDT) is a statutory body under the Department of Revenue in the Ministry of Finance. CBDT oversees the complete administration of direct taxes in India through the Income Tax Department. Hence, any policies or planning regarding direct taxes falls under the ambit of the CBDT.

CBDT taxes or direct taxes include income tax, capital gains tax, etc. levied on individuals and businesses.

What Is Direct Tax?

Direct taxes are levied by the government on the income or profits of citizens. The tax liability cannot be transferred to another entity or person and must be borne by the individual taxpayer alone. Direct taxes are collected and administered by the CBDT. Taxes that fall in this category include:

1. Income Tax

This direct tax is calculated based on the income or profits of an individual or entity during a financial year. The payable amount depends on the income tax slab set by the Income Tax Department. For FY23-24, individuals with an income of up to Rs. 3 lakhs per annum are exempt from income tax.

2. Capital Gains Tax

This tax is levied on profits from the sale of a ‘capital asset’ in the year of the sale. Capital assets can include residential property, land, vehicles, machinery, precious metals, etc.

These capital gains can be Short-Term Capital Gains (STCG) if you sell a capital asset after holding it for less than one year or Long-Term Capital Gains (LTCG) after holding it for over a year.

3. Securities Transaction Tax

Individuals involved in security trading must pay this tax, irrespective of profit made.

What Is Indirect Tax?

Indirect taxes are levied on the production and consumption of goods and services. Unlike a direct tax, the liability of paying an indirect tax can be transferred. For instance, a wholesaler passes tax on to a retailer, who then passes it on to the end customer. Indirect taxes are collected and administered by the CBIC (Central Board of Indirect Taxes and Customs) through intermediaries. Indirect taxes in India include Goods and Service Tax (GST), Customs Duty, Sales Tax, etc.

How can you pay Direct Tax with IndusInd Bank?

IndusInd Bank is now integrated with the lncome Tax Department’s ‘TIN 2.0’ platform. You can now pay your Direct Taxes in a fast, seamless and convenient manner through the Bank’s Retail or Corporate Net Banking platform or at any IndusInd Bank branch using Cash, Cheque or Demand Draft.

For payment of Direct tax,

Tax payer need to visit the Income Tax portal and log in with his/her user credentials
Income Tax portal also has a pre-login section which can be accessed by tax payer by entering their PAN/TAN along with Mobile Number and OTP. However, through this section, only selected types of Direct Tax transactions can be initiated
Post successful login, Tax payer will select e-Pay Tax under the e-File menu and click on the new payment tab
Tax payer will select the Category of payment which he/she wants to pay, select Assessment Year and Type of Payment (Minor Head) and enter the Tax amount breakup as per his/her payment liability
Tax payer will then need to select the mode of payment in which he/she wants to pay tax liability and generate the challan
Once challan is generated, a Tax payer can pay the Directtax through the following modes offered by IndusInd Bank:
- Internet Banking – Retail Channel (IndusNet)
- Internet Banking – Corporate Channel (IndusDIRECT)
- Pay at Bank Counter – pay at all IndusInd Bank branches (Click here to learn more about paying direct taxes with IndusInd Bank)

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What is a Two-Wheeler Loan?

4 Factors to Consider While Choosing a Two Wheeler Loan

Key features of two-wheeler loans:-

Why Choose IndusInd Bank’s Two-wheeler Loan Solutions

Advantages of Joint Savings Accounts for Married Couples

Easier, low-effort lifestyle:

Financial transparency:

Simplified decision-making:

Establish realistic goals:

Establish trust and camaraderie:

Manage Finances Effortlessly as a Couple with Indus Partner

IndusInd Bank Car Loan Benefits

Eligibility Criteria & Documentation for IndusInd Bank Car Loan

For Salaried Individuals:

For Self-Employed Individuals:

IndusInd Bank Car Loan Application Process

Here are some insider tips to help you make the most of your PIONEER card’s lounge access privileges.

How can you enjoy lounge benefits?

Frequent flyer? No worries

Traveling? Get free lounge access here

Get your PIONEER Debit Card Today

What is CBDT and CBDT taxes?

What Is Direct Tax?

1. Income Tax

2. Capital Gains Tax

3. Securities Transaction Tax

What Is Indirect Tax?

How can you pay Direct Tax with IndusInd Bank?