Home Credit Personal Loan
Home Credit offers an instant, paperless personal loan of up to ₹4.8 Lakhs at an interest rate starting from 21% per annum. The tenure for the Home Credit Personal Loan varies between 12 and 60 months. The loan amount is disbursed within hours. These personal loans come with a processing fee of up to 3.9% of the loan amount and can be used for all your financial needs.
Home Credit Loan Details
Below are the key Home Credit personal loan details:
| Interest Rates | 21.00% to 39.50% p.a. |
|---|---|
| Loan Amount | ₹10,000 to 4.8 Lakhs |
| Loan Tenure | 12 to 60 months |
| Processing Fee | Up to 3.9% of the loan amount |
| Eligible Age | Above 21 and up to 60 years |
Features & Benefits of Home Credit Personal Loan
- Easy online application: Just download the Home Credit loan app to apply online instantly with minimal documents.
- Loan amount: Ranging from ₹10,000 to ₹4.8 Lakhs.
- Tenure: Repayment period varies between 12 and 60 months.
- Top-up facility: Home Credit India provides a top-up facility on the existing personal loan based on the customer’s repayment history and applicable credit policies.
- Other services: Home Credit India allows you to opt for the Safe Pay services along with the personal loan. If you opt for Safe Pay Services, you get benefits like Free Early Repayment, Payment Holiday, Life Insurance, and Health Services with your loan.
- Key benefits: Collateral-free loan process, zero hidden charges, instant disbursal of the loan within hours of approval.
Home Credit Personal Loan Interest Rates & Charges
- Interest rate: Home Credit personal loan interest rate ranges from 21% to 39.5% p.a.
- Processing fee: Up to 3.9% of the loan amount.
- Foreclosure charges: 4% of the outstanding principal amount (may be waived with Safe Pay).
- Late payment charges: ₹550- ₹4,800, depending on the number of days past the due date.
Compare Home Credit Loan with Other Loan Apps
Below is the comparison table for the Home Credit loan app with other loan apps:
| Lender | Interest Rate | Loan Amount | Tenure |
|---|---|---|---|
| Home Credit | 21.00% p.a. onwards | ₹10,000 - 4.8 Lakhs | 12 to 60 months |
| Zype | 18.00% p.a. onwards | ₹3,000 - ₹5 Lakhs | 6 to 36 Months |
| Loanwalle | 2.91% p.m onwards | ₹10,000 - ₹3 Lakh | 12 to 36 Months |
| Squid Loan | 0.9% per day onwards | ₹5,000 - ₹1 Lakh | 7 to 365 Days |
| LoanPey | 2.00% p.m onwards | ₹5,000 - ₹1 Lakh | 3 to 12 Months |
| Creditt+ | 0.3% - 0.6% per day | ₹8,000 - ₹35,000 | Up to 3 Months |
| Click My Loan | 12.00% p.a. onwards | ₹6,000 - ₹10 Lakh | 6 to 60 Months |
| TrustPaisa | 18.25% p.a. onwards | ₹2,500 to ₹45,000 | 3 to 6 Months |
| RING | 3.8% p.m. onwards | ₹5,000 - ₹5 Lakh | 3 to 36 Months |
| Upwards | 16.00% p.a. onwards | ₹25,000 – ₹5 Lakh | 6 to 36 Months |
Home Credit Personal Loan Eligibility Criteria
You are eligible to apply for a Home Credit loan if you meet the following eligibility criteria:
- Nationality: Indian.
- Age: Between 21 to 60 years.
- Profession: Salaried employee, self-employed, or a pensioner.
- Bank account: Must maintain an active bank account.
- Location: The Home Credit personal loan is currently available in Delhi, Bangalore, Chennai, Hyderabad, Mumbai, Pune, Surat, Kolkata, Coimbatore, and Ahmedabad.
- Existing relationship: The applicant must be an existing customer of Home Credit (should have availed a Ujjwal EMI Card, Consumer Durable Loan, Personal Loan, or Flexible Personal Loan in the past).
Documents Required for Home Credit Loan
If you want a Home Credit personal loan apply with the following documents:
- Identity proof: PAN Card (mandatory)
- Address proof (any one of the following):
- Aadhaar Card
- Voter ID Card
- Driving License
- Passport
- Government House Allotment Letter
- Property Tax Receipt
*Home Credit India reserves the right to ask for additional documents, if required.
Steps to Apply for Home Credit Loan Online
- Download the Home Credit personal loan app.
- Submit the required details to complete the registration process.
- Upload KYC documents.
- Get instant funds disbursed directly to your bank account on approval.
Home Credit Loan Customer Care Number
| Contact Channel | Details | Operating Hours / Turnaround Time |
|---|---|---|
| Phone Support | +91-1246628888 | 9:00 AM – 6:00 PM (Excluding National Holidays) |
| Email Support | care@homecredit.co.in | Response within 48 hours |
FAQs
Yes. If you need instant funds up to ₹4.8 Lakhs with minimal documents, Home Credit can be a good online personal loan option.
The Home Credit personal loan interest rate ranges from 21.00% to 39.50% p.a.
Yes. Home Credit India operates as an Investment and Credit Company, which is registered as a Non-Banking Financial Company (NBFC) with the Reserve Bank of India.
Yes. Home Credit is RBI-registered and is generally safe to use for instant loans.
Yes, you can pay your Home Credit loan early with foreclosure charges of 4% of the outstanding principal amount (may be waived with Safe Pay).
Yes, it is possible to get a Home Credit loan 10000 with a low CIBIL score.
Reshma Rawat is a passionate writer with a decade of experience in writing for a variety of domains (finance, technology, lifestyle, e-commerce, real estate, etc.). Currently, she is working as Assistant Manager - Content @MyMoneyMantra and writes blogs & webpages on financial products (loans, credit cards, insurance, government financial policies, mutual funds, etc.).
Director- MyMoneyMantra FinTech| A senior retail and commercial banking professional, adept at handling Business Development, Sales Planning & Growth, Product Strategy, Marketing Operations and Client advisory services phygitally.