Home Credit Personal Loan
Home Credit offers an instant, paperless personal loan of up to Rs. 4.8 Lakhs at an interest rate starting from 1.6% per month. The tenure for the Home Credit Personal Loan varies between 9 to 48 months. The loan amount is disbursed within hours. These personal loans come with a processing fee of up to 5% of the loan amount and can be used for all your financial needs.
Apply for Home Credit Personal Loan @ 1.6% p.m. Interest Rates
Home Credit Personal Loan Details
The following are some important Home Credit Personal Loan details:
| Interest Rates | 1.6% per month onwards |
| Loan Amount | Rs. 10,000 to 4.8 Lakhs |
| Tenure | 9 months to 48 months |
| Processing Fee | Up to 5% of the loan amount |
| Age | 18 to 60 years |
| Monthly Household Income | Above Rs. 25,000 |
| Top-up on the existing personal loan | Available based on the repayment history & applicable credit policies |
Home Credit Personal Loan Features
- Loan amount: Ranging from Rs. 10,000 to Rs. 4.8 Lakhs.
- Tenure: Repayment period varies between 9 to 48 months.
- Interest rate: Home Credit personal loan interest rates start from just 1.6% per month, making the Home Credit pay EMI affordable. However, the actual rate offered can vary depending on your credit profile and other factors.
- Processing fee: Up to 5% of the loan amount.
- Easy online application: Just download the Home Credit app and apply online after a successful Home Credit login.
- Basic eligibility: You need to be an existing Home Credit customer.
- 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. You can check your eligibility on the Home Credit application.
- Other services: Home Credit India allows you to opt for the Safe Pay and Health Services services along with the personal loan. If you opt for a Value-Added Service, a fee will be levied additionally for the same. 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 loan within hours of approval.
Home Credit Personal Loan Interest Rates
Home Credit loan interest rates are competitive and start from as low as 1.6% per month, making the Home Credit EMI payment affordable. However, the actual interest rate can vary based on factors like the borrower’s credit profile and other individual circumstances.
Apart from the interest rate, a processing fee of up to 5% of the loan amount will be levied. Also, late payment charges will be charged on the total outstanding principal loan amount in case a customer does not pay the monthly instalment on or before the due date.
Home Credit Personal Loan Eligibility Criteria
You are eligible to apply for a Home Credit loan if you meet the following eligibility criteria:
- Citizenship: An Indian citizen.
- Age: 18 to 60 years.
- Profession: Salaried employee, self-employed, or a pensioner.
- Bank account: Must maintain an active bank account.
- Gap between loan applications: There must be an interval of a minimum of 90 days between two Home Credit loan applications.
- Income: The applicant must demonstrate a monthly household income above Rs. 25,000. Household refers to an individual family unit including a husband, wife, and their unmarried children.
- Existing relationship: The applicant must be an existing customer of Home Credit (should have availed Ujjwal EMI Card, Consumer Durable Loan, Personal Loan, or Flexible Personal Loan in the past).
- Other criteria: The applicant must have valid ID proof and current address proof.
Documents Required for Home Credit Personal Loan
To apply for a Home Credit personal loan, you need to provide the PAN Card along with any of the following documents: identity and address proof documents.
- Aadhar Card
- Voter Identity Card
- Driving License
- Passport
- Government House Allotment Letter
- Property Tax Receipt
*Home Credit India reserves the right to call upon additional documents, if required.
How to Pay Home Credit EMI
You can make your Home Credit EMI payment through the Home Credit website and mobile app.
- Online Payment through mobile app: Select the "Pay EMI" option and pay using multiple available payment modes like Debit Card, Net Banking, Wallet, or UPI.
- Online Home Credit loan payment through the Home Credit website:
- Visit the Home Credit India website
- Click on “Pay EMI” and enter the requested details and payment amount
- Accept the disclaimer
- Then select the mode through which you wish to make the payment
- Complete the payment
Home Credit Personal Loan Charges
The processing fee varies between 2.5% and 5% of the loan amount, based on the withdrawal amount.
Home Credit Loan Customer Care Number
You can reach out to Home Credit by calling their Home Credit Loan Customer Care Number at 0124-662-8888 or chat with their team through the Home Credit mobile app between 9:00 a.m. and 7:00 p.m. Alternatively, you can send an email to care@homecredit.co.in with your query, and they will respond within 48 hours.
FAQs
To log in to the Home Credit app, you will need the 4-digit PIN set by you during registration. If you are an existing Home Credit customer and have already downloaded the Home Credit app, you can use your registered mobile number to log in.
Yes, Home Credit offers personal loans up to Rs. 4.8 Lakhs
You can use the Home Credit India mobile app to check the remaining EMI balance on your Home Credit loan. You can also find this information in your monthly statements or bills, or by simply contacting customer care.
The applicant must demonstrate a monthly household income exceeding Rs. 25,000. ‘Household’ refers to an individual family unit including a husband, wife, and their unmarried children.
While Home Credit does not explicitly state a specific CIBIL score requirement for obtaining their personal loans, it is generally understood that a credit score of 750 or above is considered ideal and is a strong indicator of the borrower’s creditworthiness.
Home Credit aims to disburse personal loans within 24 hours post completing the loan application process and document verification.
Even before applying for the loan, it is essential to calculate the EMI to arrive at a loan amount you can conveniently afford. MyMoneyMantra has made this process simple and instant through its online EMI Calculator. You can just enter your loan amount, tenure, and interest rate to get the instant result.
No, it is not mandatory to have availed a loan earlier to apply for a loan at Home Credit.
The Home Credit representatives take only 10 minutes to eligibility and another 20 minutes for loan processing at the Home Credit Counter at the stores.
With a good relationship with Home Credit for a period of 90 days, you will be allowed to avail of another loan.