Home Credit Personal Loan: Eligibility, Interest Rate & Apply Online

Home Credit, an international NBFC (Non-Banking Financial Company), offers personal loans mainly to people with little or no credit history in India. However, interest rates offered by Home Credit are relatively higher than other lenders providing personal loans. Paisabazaar has partnered with Home Credit to ensure most applicants get personal loans even if they have very low credit score or are new to credit.

Compare Offers and Apply for a Personal Loan online Apply Now

Home Credit Personal Loan Interest Rates

Interest rate for personal loans offered by Home Credit starts from 2% per month. Key factors impacting the applicable rate include the loan amount, tenure, and other factors related to the applicant’s credit profile.

Click here to check personal loan interest rates of other lenders.

Eligibility and Documents Required for Home Credit Personal Loan

Home Credit personal loan applicants can apply for a personal loan if they fulfill the following criteria:

• A bank account with active net banking is mandatory
• The minimum monthly income of the applicant should be Rs. 10,000

In case you have never taken a loan or a credit card in the past, you will be considered “New to Credit”. Many lenders may refrain from approving your personal loan application. Such applicants and those with a relatively low credit score should go ahead with Home Credit personal loans.

If you have a good credit score (750 or above), you can get a personal loan at relatively lower interest rates from other lenders through Paisabazaar.

Home Credit generally requires applicants to submit a valid identity and address proof to avail a personal loan from them. However, the exact documents that are accepted by the NBFC as identity and address proof slightly vary for existing and new customers and have been discussed in detail below:

NOTE: Home Credit may ask for additional documents as deemed necessary on a case-by-case basis.

Fees and Other Charges

Why Apply for a Personal Loan at Paisabazaar?

The following are a few key benefits of applying for a personal loan at Paisabazaar.com:

1. Offers from Top Lenders: Paisabazaar has more than 40 lenders as its partners including top Banks/NBFCs/Fintechs and provides the best available loan offers from multiple lenders on a single platform.
2. Option to Compare and Choose: Paisabazaar.com lets you compare personal loan interest rates and other key features like foreclosure charges, processing fees, disbursal offered by different lenders and select the most appropriate option for yourself.
3. Chances of Approval & Personalized Offers: With Paisabazaar.com, you can know personal loan offers from various lenders listed as per the Chances of Approval based on your credit score and other eligibility factors. This unique feature helps you choose the loan offer having the highest approval chances.
4. Pre-Approved Loan Offers: You can also get access to various personalised pre-approved loan offers from time to time on the basis of your credit health once you become a part of the Paisabazaar ecosystem. These pre-approved loan offers also come with minimal or no processing fee and documentation, low interest rates, etc.
5. Complete Guidance: The team of experts at Paisabazaar.com offer unbiased advice and complete guidance at every step to help you select the most suitable option for yourself.
6. 100% Digital Process: Paisabazaar.com is a completely digital platform that lets you carry out the entire loan process – right from loan application to the approval of your personal loan completely online.
7. Document Pickup: With Paisabazaar, customers also have the advantage of document pickup right from their doorstep without any additional charges at a mutually agreed date and time in case physical documentation is required.
8. End-to-end Assistance: The Paisabazaar team offers end-to-end assistance right from looking out for a personal loan offer to getting the loan amount disbursed to your account. The customer friendly team assists you and works with lenders in the background to offer you a hassle-free experience.

Your pre-approved Personal Loan offers are just a click away Apply Now

Comparison of Home Credit India Finance PL vs Other Lenders

Frequently Asked Questions (FAQs)

Q1. What is the minimum loan amount for Home Credit India Finance personal loans for new customers?

The minimum loan amount for which a new applicant can apply for a Home Credit personal loan is Rs. 25,000. The maximum loan amount is Rs. 2 lakh for such customers. However, customers having an existing relationship with the lender can avail a personal loan up to Rs. 2.4 lakh.

Q2. Is collateral or security needed to avail a Home Credit Personal Loan?

No collateral/security is required to avail a Home Credit Personal Loan.

Q3. Can I prepay Home Credit personal loan?

Yes, you can prepay your Home Credit personal loan anytime without any additional charges/penalties.

Q4. Can I get a top-up on my existing Home Credit Personal Loan?

Yes, you can avail a top-up on your existing Home Credit Personal Loan on the basis of your repayment history and applicable credit policies.

Q5. What all services can be availed on the Home Credit Mobile App?

Home Credit mobile application can be used for performing the following actions:

• Checking personal loan summary/statement
• Checking your loan repayment schedule
• Paying off your monthly EMIs
• Stay up to date with details and status of existing personal loans
• To apply for a new loan, provided you meet the eligibility criteria

Q6. What are the value-added services available with Home Credit Personal Loan?

Home Credit personal loan customers can avail Value Added Service called “Safe Pay”. It is a bundled service that comes with attractive benefits including free early repayment, payment holiday, and life cover. For further details, you can get in touch with the lender.

Q7. Is it mandatory to avail the Value Added Service with the personal loan?

No. Borrowers may, at their discretion, decide to opt for the Value Added Service at the time of loan application.

Q8. How should I contact Home Credit for queries and assistance?

You can contact Home Credit customer care in the following ways:

• By Email: care@homecredit.co.in
• Over the Phone: You can call at +91 – 124 – 662 – 8888 (charges applicable). Operational from 9:00 AM to 6:00 PM (Monday – Sunday).