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Home Credit Personal Loan

Home Credit offers personal loan at interest rate starting from 1.6% per month for loan amount of up to Rs 4.8 lakh for tenures of up to 48 months. It offers instant approval to personal loans to eligible customers after furnishing the required documents. The NBFC claims to disburse personal loans within a few hours of signing the loan agreement. It also does not charge foreclosure fees and offers payment holiday to its existing personal loan borrowers facing difficulties in repaying their EMIs. Home Credit India also offers Flexible Personal Loan–an overdraft facility, wherein the borrowers can withdraw from the credit limit sanctioned by the NBFC.

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HDFC Bank
10 Second Disbursal*100% Digital Process*Quick Disbursal
Max. Loan Amt.Upto ₹25L
Rate of Interest9.99% - 12.5%
Tenure upto1-5 Years
Processing Fee₹ 6,500
Axis Bank
Low Processing fee
Max. Loan Amt.Upto ₹25L
Rate of Interest9.99% - 17.15%
Tenure uptoUpto 6 Years
Processing FeeUpto 2%
Kotak Mahindra Bank
Lowest Income requirement100% Digital Process*
Max. Loan Amt.Upto ₹25L
Rate of Interest9.98% - 17.2%
Tenure upto1-5 Years
Processing Fee1.1% - 1.5%

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How Can I Apply for a Personal Loan Online?

Get up to ₹40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Home Credit Personal Loan Highlights

Interest rates 1.6% per month onwards
Loan amount  Rs. 10,000 – Rs. 4.80 lakh
Tenure  9 months to 48 months
Minimum Income Rs 10,000
Processing fees Up to 5% of the loan amount + applicable charges
Foreclosure fee Nil

Note: Rates as of 23 June 2025.

Home Credit Personal Loan Interest Rate

Home Credit Personal Loan Interest Rate start from 1.6% per month.  The final personal loan interest rate offered would depend on various factors including the borrower’s occupation profile, age, income, etc. However, the lender has not disclosed the interest rate for Home Credit Flexible Loan.

Home Credit Personal Loan Fees and Charges

Processing fee

Personal Loan 0-5% of the loan amount + GST
Annualized Percentage Rate ( APR) Between 19.5% – 48%

 

Late Payment Charges (Home Credit Personal Loan)

Days Past Due 1 day 30 days 60 days 90 days 120 days 150 days 180 days
 Charges Rs 550 Rs  600 Rs 650 Rs 750 Rs 750 Rs 750 Rs 750
Total Late Payment Charges Rs 550 Rs 1150 Rs 1800 Rs 2550 Rs 2850 Rs 3300 Rs 4800

Note:

  1. Additional fees will be levied for Value Added Services (if opted).
  2. The annual interest rates and processing fees may vary based on the risk profile of the customers.

Late Payment Charges (Home Credit Flexible Personal Loan)

Days Past Due Outstanding Principal Amount
Less than or equal to ₹ 5,000 More than ₹ 5000 
Late Payment Charges Total Late Payment Charges Late Payment Charges Total Late Payment Charges
1 Day ₹ 200 ₹ 200 ₹ 550 ₹ 550
30 Days ₹ 300 ₹ 500 ₹ 600 ₹ 1150
60 Days ₹ 400 ₹ 900 ₹ 650 ₹ 1800
90 Days & Above ₹ 500 ₹ 1400 ₹ 750 ₹ 2550
120 Days ₹500 ₹1900 ₹750 ₹3300
150 Days ₹500 ₹2400 ₹750 ₹4050
180 Days ₹500 ₹2900 ₹750 ₹4800

Note: In case of non-payment, Late Payment Charges will be levied on the total outstanding principal amount of the loan.

Types of Home Credit Personal Loans

Home Credit Flexible Personal Loan

  • Purpose: It is a credit line facility offered by Home Credit India wherein customers can withdraw any amount starting from Rs 10,000 to up to Rs 1,00,000, anytime for various purposes like travel, education, wedding, home renovation, etc.
  • Tenure: Up to 5 years (3 years flexible & 2 years fixed). If borrowers are unable to repay the loan within three years, they can convert Flexible Personal Loan into a term loan for upto 2 years.
  • Loan Amount: Up to Rs 1 lakh

Home Credit Personal Loan for Travel

  • Purpose: To meet the financial requirements for travel
  • Tenure: 6 months to 51 months

Home Credit Personal Loan for Medical Emergencies

  • Purpose: Medical Loan to bear emergency medical situations
  • Tenure: 6 months to 51 months

Home Credit Personal Loan for Marriage

  • Purpose: For meeting the financial requirements for a wedding
  • Tenure: 6 months to 51 months

Home Credit Personal Loan for Small Businesses

  • Purpose: To bear new business commencement expenses
  • Tenure: 6 months to 51 months

Home Credit Personal Loan for Home Renovation

  • Purpose: Collateral free loans for home renovation related expenses such the cost of contractors, interior designers, raw material purchase, etc.
  • Tenure: 6 months to 51 months

Home Credit Personal Loan for Education

  • Purpose: Unsecured loan for bearing education related expenses
  • Tenure: 6 months to 51 months

Home Credit Personal Loan for Self-employed

  • Purpose: To bear expenses for business expansion
  • Tenure: 6 months to 51 months

Value added services offered by Home Credit:

  • Payment holiday: This feature allows the borrowers to postpone their EMI in emergency situations. It does not have a negative impact on the borrower’s CIBIL score.
  • Free early repayment: Borrowers can close the loan account anytime without any extra cost.
  • Life cover: Borrowers can opt for life cover of up to 1.25 times the loan amount to help the repayment of the outstanding loan amount in case of their untimely death.

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Eligibility Criteria for Home Credit Personal Loan

  • Indian citizen
  • Employment: Salaried and self-employed professionals or pensioners
  • Minimum income: Rs 10,000
  • Age: 19 to 68 years
  • Active bank account
  • Gap between two 2 Home Credit loan application should be 90 days

In addition to the above-mentioned eligibility criteria, Home Credit may also consider the credit score, occupation profile, employer’s profile, etc of its personal loan applicants, as used by many lenders for evaluating the personal loan eligibility of their applicants.

Documents Required for Home Credit Personal Loan

  • PAN Card
  • Form 60 if PAN card is not available (with one of the following documents — Passport, Voter ID and driving license — for ID proof)
  • Valid address proof:
    • Voter ID Card
    • Driving License
    • Passport Government House Allotment Letter
    • Property Tax Receipt

How Can I Apply for a Personal Loan Online?

Get up to ₹40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

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What our customers say

Highly recommended platform

I applied for a personal loan for medical emergency through Paisabazaar and got amazing service like nowhere else. The team was extremely cooperative and followed up with me until I had my loan amount in my account. My loan was disbursed within 24 hours. It is indeed an excellent platform for taking loans.

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Sunil YadavOct 29, 2025

Instant loan disbursal

I applied for a personal loan through Paisabazaar and got my loan disbursed in no less than 24 hours. The team was extremely cooperative, guided me through the entire process and followed up with me until I had my loan amount in my account. I highly recommend this platform to everyone looking for an urgent loan.

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Neha JainOct 29, 2025

Excellent platform

Excellent platform for personal loan comparison! Their EMI calculator helped me pick the best tenure & my monthly emi.

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Manish KumarOct 23, 2025

Got personal loan instant

I was a medical emergency &amp; need funds instantly I applied for loan at Paisabazaar &amp; see I have a pre approved offers &amp; apply to it &amp; amount disbursed in 48 hours thanks to paisabazaar teams

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Mansi SharmaOct 17, 2025

Got loan yesterday

I got a loan of 2 lakh from Paisabazaar. Until now, I didn&#x27;t know that it was so easy to get loan through Paisabazaar. They helped me with all documents and process and my loan was sanctioned yesterday itself.

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Priyanka SharmaOct 15, 2025

Got personal loan in a few minutes

I had pre-approved offers. When I applied through Paisabazaar, I got my personal loan approved within a few minutes. The process was very hassle-free and the team was extremely cooperative.

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Preeti SinghSep 26, 2025

Cibil kam tha fir bhi loan dila diya

Mera cibil kam tha fir bhi paisabazaar walo ne loan dila diya mujhe jo bohot jaruri tha.

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Pawan SehrawatSep 25, 2025

Personal loan quick approved

My personal loan was quick approved on Paisabazaar. Everything was online and I was not required to submit any more documents.

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Vivaan ShahSep 24, 2025

Loan Approved in on day

I confused between HDFC & Axis personal loans, but Paisabazaar showed me all the offers side by side. I apply in 10 minutes and got approval the next day!

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Rahul MehtaSep 23, 2025

Personal loan mila yahaan se

Mujhko personal loan mila yahaan se bina koi dikkat hue. Maine toh online apply kiya aur 3 lakh ka loan mila 2 saal ke liye.

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Pankaj SinhaSep 22, 2025
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