Home Credit Personal Loan – Interest Rate & Features – Jan 2022
|Interest Rate||Starting from 2.00% per month|
|Loan Amount||For existing customers: From Rs. 10,000 to Rs. 2.4 Lakh|
For new customers: From Rs. 25,000 to Rs. 2 Lakh
|Repayment Tenure||For existing customers: 9 to 51 months|
For new customers: 6 to 48 months
|Processing Fees||Up to 5% of loan sanctioned|
Note: The above-mentioned interest rates, fees and charges may change and shall depend on the sole discretion of the Home Credit and RBI. Interest rates are updated as on Jan 2022.
Home Credit offers personal loans with quick and convenient application process. Home Credit also offers instant online approval to personal loans applications of up to Rs 2.40 lakh. Home Credit personal loans can be used to meet varied financial needs, such as for higher studies, home renovation, wedding, medical emergency, travel, small business needs, etc.
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.
Comparison of Home Credit India Finance PL vs Other Lenders
|Banks/NBFCs||Interest Rates (per annum)|
|Home Credit||2% onwards per month|
|HDFC Bank||10.25% – 21%|
|SBI||9.60% – 13.85%|
|PNB||7.95% – 14.50%|
|ICICI Bank||10.50% – 19%|
|Axis Bank||10.25% p.a. onwards|
|Kotak Mahindra Bank||10.25% onwards|
|IndusInd Bank||11.00% onwards|
|IDFC First Bank||10.49% – 23%|
|Bajaj Finserv||13.00% onwards|
|Tata Capital||10.99% onwards|
Also Compare: Personal Loan Interest rates offered by top banks/NBFCs
Eligibility for Home Credit Personal Loan
Home Credit personal loan applicants can apply for a personal loan if they fulfill the following criteria:
- Age: Applicant should be minimum 19 years and maximum 68 years
- Salaried Individuals, Self-employed professionals and Pensioners are eligible
- Applicant should be an active bank account holder
- Difference between 2 Home Credit loan applications should be at least 90 Days
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.