Home Credit Personal Loan Highlights | |
Interest rate | Starting from 24.00% p.a. |
Loan Amount | Up to Rs. 2 lakh |
Loan Tenure | Up to 48 months |
Eligible Applicant Age | 18 years to 69 years |
Processing Fees | Up to 3% of loan sanctioned |
Types of Personal Loans | Travel Loan, Medical Emergency Loan, Marriage Loan, Small Business Loan, Home Renovation Loan and Education Loan |
Home Credit is an international NBFC (Non-Banking Financial Company) currently operating in 9 countries including India. In India Home Credit personal loan is sanctioned for amounts up to Rs. 2 lakh targeted mainly at people with little or no credit history. Home Credit personal loan features minimal documentation and quick disbursal. In the following sections we will discuss the eligibility criteria for Home Credit personal loan, the documents required, interest rate, procedure to apply and much more.
Table of Contents
Features of Home Credit Personal Loan
- Loan Amount: Home Credit offers personal loan starting from Rs. 25,000 up to Rs. 2 lakh. The loan amount sanctioned increases in slabs of Rs. 5,000.
- Documentation: Home Credit personal loan application process requires minimal documentation. You only need a valid residential address proof, PAN and a bank account with net banking facility to avail this loan.
- Quick Disbursal: Personal loan is provisionally approved within a few minutes and disbursed within 1 working day upon successful KYC and e-signing of loan documents.
- Processing Fees: A personal loan from Home Credit comes with 0% processing fees.
- Loan Tenure: The repayment period for Home Credit personal loan generally varies between 18 to 48 months.

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Home Credit Personal Loan Interest Rates
Interest rate for personal loans offered by the NBFC varies from 24% to 49%. Key factors impacting the applicable rate include loan amount, tenure, credit score of the applicant and other factors related to the applicant’s profile.
Eligibility Criteria
The eligibility criteria to avail Home Credit personal loan are as follows:
- You should be an Indian citizen above 19 years of age.
- You should have a valid e-mail address and a mobile number.
- You should have a functional webcam and internet connection.
- You should have a valid residential proof and PAN.
- You should have a personal bank account with access to Internet banking.
Documents Required for Loan Application
Only PAN card and valid residential proof are required to avail Home Credit personal loan. Following is a list of documents that are considered as a valid address proof:
- Voter ID
- Passport (should not expire within 3 months of loan application)
- Driving License (should not expire within 3 months of loan application)
- Bank Passbook
- Bank Statement
- Electricity Bill (should not be older than 2 months from the date of loan application)
- Gas Bill (should not be older than 2 months from the date of loan application)
- Mobile Bill (should not be older than 2 months from the date of loan application)
- Landline Bill (should not be older than 2 months from the date of loan application)
NOTE: It is mandatory to provide one of the above listed documents as a valid address proof in order to avail Home Credit personal loan.
Types of Home Credit Personal Loan
Home Credit provides the following types of personal loan on the basis of applicant’s needs.
Travel Loan | Home Credit personal loan for travel is meant to meet your travel expenses. Avail this loan to plan your dream vacation with instant disbursal of cash. |
Medical Emergency Loan | This can be availed to meet all your medical needs ranging from a regular consultation to emergency surgery. |
Marriage Loan | Home Credit marriage loan helps you plan your dream wedding. You can plan a grand ceremony with the amount disbursed. |
Small Business Loan | Home Credit offers personal loan for businesses. You can use the amount for your startup or your existing business. |
Home Renovation Loan | This loan is offered to meet your needs related to home improvement. You can get essential repairs completed, redo the interiors and do much more with this loan. |
Education Loan | Home Credit offers special personal loans for students to meet their education related needs. This loan can be repaid after the completion of course, and hence is a very comfortable option for students. |

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How to Apply for Home Credit Personal Loan?
Following is the step-by-step procedure to apply for Home Credit personal loan:
- Register for the personal loan on the Home Credit home page or download the Home Credit mobile application
- Fill out the personal details to complete an application form.
- Upload the documents in JPEG or PNG format. Home Credit does not specify any size limits for the upload files.
- Get instant online provisional approval.
- Visit the nearest Home Credit point of sales (PoS) for KYC.
- E-sign the loan application through Home Credit mobile app to complete the procedure.
Also read Home Credit Personal Loan Login.
Personal Loan Verification Process
Loan verification process is mainly aimed at checking the prospective borrower’s details and documents in order to ensure repayment of the loan amount. Home Credit personal loan verification process involves the following 2 steps:
- Verification of your personal details and the documents uploaded on the Home Credit online portal/ mobile app.
- Completion of KYC at the nearest point of sales (PoS). A complete and updated list of such PoS is available on the Home Credit website as well as the NBFC’s app.
Once the loan is successfully verified and you e-sign the loan agreement, the loan amount is disbursed.
Check Home Credit Personal Loan Status and Statement
You may contact Home Credit customer care to check the status of your loan application as well as to access your loan account statement. Alternatively, you can download Home Credit mobile app to avail the loan repayment schedule, loan account statement and other loan-related details.
Fees and Other Charges
Processing Fee | Nil |
Monthly Customer Care Fee | Nil |
Late Payment Penalty | l Rs. 350, one day after due date l Rs. 800, thirty days after due date l Rs. 1350, sixty days after due date l Rs. 2100, ninety days after due date |
Services Offered on 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.
What are the various modes of repayment for Home Credit Personal Loan?
You can repay your Home Credit personal loan via the following modes:
- Home Credit Website
- Visit the Home Credit website and click the “Pay EMI” link on the homepage.
- Fill out your Contract ID and enter the EMI amount.
- Choose debit card or net banking as the payment option.
- Enter the OTP received on your registered mobile number to complete the payment.
2. Home Credit Mobile App: Android users can download and register on the Home Credit Mobile App to pay their personal loan EMI.
3. You can also pay the loan EMIs using PayTM App.
4. Pay Cash at authorized branches of Axis Bank and ICICI Bank
- Visit the authorized Axis/ICICI branch.
- Fill out your loan details on deposit slip.
- Deposit the EMI amount and collect the stamped payment receipt.

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EMI Calculation
The following table shows the monthly EMI amount for various combinations of loan amount, tenure and interest rates.
Loan Amount (Rs.) and Interest Rate | Monthly EMI Payout (Rs.) | |||
Loan tenure of 18 months | Loan tenure of 24 months | Loan tenure of 36 months | Loan tenure of 48 months | |
10,000 @ 24% | 756 | 617 | 478 | 408 |
50,000 @ 30% | 4,028 | 3,333 | 2,639 | 2,292 |
1 lakh @ 40% | 8,889 | 7,500 | 6,111 | 5,417 |
Also Read: Personal Loan EMI Calculator
Comparison of Home Credit India Finance PL vs Other Lenders
Personal Loan Comparison Criteria | Home Credit India Finance | HDFC Bank | State Bank of India | ICICI Bank | Citibank |
Interest Rate | 24-49% | 10.75-21.30% | 10.50% onwards | 11.25-22.00% | 10.50% onwards |
Tenure | 18 to 48 months | 12 to 60 months | 12 to 72 months | 12 to 60 months | 12 to 60 months |
Loan amount | Rs. 25,000 to Rs. 2 lakh | Upto Rs. 40 lakh | Upto Rs. 20 lakh | Upto Rs. 20 lakh | Upto Rs. 30 lakh |
Processing Fee | Nil | Upto 2.50% of the loan amount | Upto 1% of the sanctioned loan | Upto 2.25% of loan amount plus GST | Upto 3% of the loan amount |
Home Credit Customer Care
You can contact Home Credit India Finance customer care in the following ways:
- By E-mail: You can write your query to onlineloan@homecredit.co.in
- Over the Phone: You can call at 0124-662-8811 (charges applicable). Note that the customer care number is operational from 9:00 AM to 6:00 PM on all days (Monday – Sunday).
Benefits of Applying for Personal Loan at Paisabazaar
Using Paisabazaar.com to fulfill your personal loan requirements allows you to compare offers from 30+ lenders on a single platform. Consequently, you can compare the loan amount offered, interest rate, processing fee, prepayment charges, loan tenure and other loan parameters from various lenders before settling for an offer. You are also saved from the hassle of visiting individual websites of the lenders. The advantages don’t end here and following are some additional benefits to consider:
- Check eligible loan amount: You can check the eligible loan amount even before applying for a personal loan.
- Know the chances of approval:com uses SmartMatch, a proprietary algorithm which helps you to know the chances of loan approval.
- Check loan EMI: You can calculate your loan EMI beforehand using Paisabazaar personal loan EMI calculator. This feature helps you select the right loan parameters, so that your monthly budget is not affected.
- Instant e-approval: Applying for a personal loan through Paisabazaar platform allows you to get instant conditional e-approval from the lender.
- Privacy and transparency: com is ISO 27001-2013 certified. Thus, all your loan application details and personal data remain safe as well as private with us.
Important Aspects
The following points should be kept in mind before applying for Home Credit India Finance personal loan:
- Ensure that you meet the personal loan eligibility criteria as set by Home Credit India.
- Make sure that you have photos/copies of all the required documents available for upload/submission at the time of the application.
- Never apply for multiple loans at the same time, as this can lead to several hard enquiries on your credit report within a very short period of time. Such hard enquiries can severely affect your credit score, thereby lowering the chances of loan approval.
- Aim for a low credit utilization ratio, preferably lower than 30%. This indicates low levels of debt that would increase your repayment capacity.
Frequently Asked Questions (FAQs)
Q1. What are the loan limits for Home Credit India Finance personal loan?
Following are the limits for Home Credit personal loan amounts:
- Minimum loan amount: Rs. 25,000.
- Maximum loan amount: Rs. 2 lakh.
Note: The loan amount is increased in slabs of Rs. 5,000.
Q2. What is the turn-around-time for Home Credit personal loan disbursal?
Home Credit personal loan is provisionally approved within a few minutes of online application submission. Once final approval is received, the loan is generally disbursed in 1 working day after completion of KYC and e-signing of the loan agreement.
Q3. What are the different document formats that can be uploaded for Home Credit personal loan?
The documents required for the Home Credit personal loan can be uploaded in either JPEG or PNG formats.
Q4. What to do when a Home Credit point of sales (PoS) is not available nearby?
Contact Home Credit customer when you are unable to find a PoS nearby. They will provide the complete address of the nearest point of sales.
Q5. What is the customer care number for Home Credit?
The customer care number for Home Credit is 0124-662-8811. Please note that this number is operational between 9:00 AM – 6:00 PM from Monday to Sunday.
Q6. Can I prepay Home Credit personal loan?
Yes, you can prepay Home Credit personal loan after completion of 6 months of the loan tenure.
Q7. For how long is Home Credit personal loan registration valid?
The personal loan registration at Home Credit is valid for 30 days. This means you can apply for the loan within a month of registration.
Q8. What is the minimum eligible age to avail Home Credit personal loan?
The minimum eligible age to apply for Home Credit personal loan is 19 years.
Q9. What is the processing fee for Home Credit personal loan?
Home Credit offers personal loan at zero processing fee.
Q10. What are the documents required to avail Home Credit personal loan?
You only need a valid residential proof and PAN card to avail Home Credit personal loan.