Please Note: InCred is not a Paisabazaar partner. Offers would be from partner Banks/NBFCs only.
| InCred Personal Loan Highlights | |
| Interest Rate | 11.49% p.a. onwards |
| Loan Amount | Rs. 75,000 to Rs. 15 lakh |
| Loan Tenure | Up to 60 months |
| Foreclosure Requirement | Allowed after payment of 6 EMIs |
Salaried as well as self-employed individuals can avail a personal loan up to Rs. 15 lakh from InCred to deal with various personal financial expenses. InCred Personal Loans come with a flexible repayment tenure of up to 60 months, can be easily availed online and involve minimal documentation. The following are some key details regarding personal loans from InCred.
Table of Contents
Features of InCred Personal Loan
- Loan amount: You can avail a personal loan ranging between Rs. 75,000 to Rs. 15 lakh from InCred to meet various personal financial needs.
- Online application: You can easily apply for InCred personal loan online from the comfort of your home/office through a hassle-free application process.
- Attractive interest rate: Personal loan interest rates offered by InCred start from 11.49% p.a.
- Flexible repayment tenure: InCred offers multiple loan repayment tenures options including 12, 24, 36, 48 and 60 months so that borrowers can arrange repayment as per their convenience.
- Quick disbursal: InCred typically approves and disburses a personal loan within 3 working days after successful verification of the financial background and loan documents.
InCred Personal Loan Interest Rates
InCred personal loan interest rate starts at 11.49% p.a. However, interest rate applicable to a person varies with his/her individual applicant profile including the person’s credit score, customer segment, loan amount and tenure desired, etc.
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Eligibility Criteria
The eligibility criteria for InCred personal loan are as follows:
- You should be a citizen of India.
- You should meet the defined age criteria of InCred.
- You should be an earning person, whether you are an employee in a company or a self- employed individual.
- You should be employed in a stable job or business
Documents Required for Loan Application
The following documents are required to avail an InCred personal loan:
- KYC Documents: Aadhaar card/ PAN card/ Voter ID, etc.
- Income Proof
- Address Proof: Utility Bill (less than 2 months old)/ Rent Agreement, etc. (any one)
- Passport size photograph(s) of the applicant
Fees and Other Charges
Given below are some of the key fees and charges associated with InCred personal loan:
| Processing Fee | As per the guidelines in force |
| Prepayment or Foreclosure Charges | Foreclosure allowed after payment of at least 6 EMIs as per schedule of charges. Part prepayment not allowed |
EMI Calculation
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
Personal Loan at Attractive Interest Rates Apply Now
InCred Customer Care
In case of queries or issues relating to InCred personal loans, you can contact the lender’s customer care using any of the following means given below:
- By Phone: You can call toll free on 1800-102-2192
- Email: You can email at care@InCred.com
- Chat on WhatsApp: You can also chat with the customer support team on WhatsApp. The contact number to avail this facility is (+91)882-627-2192.
- Branch Visit: You can also visit the nearest branch of InCred.
Important Aspects
Given below are a few key aspects that you must consider when applying for a personal loan with InCred:
- To secure the best deal, try and compare different interest rates and charges online before you actually apply for a personal loan.
- Evaluate the complete cost of the loan. Besides interest there are other charges including processing fees, late payment fee, etc. which must be considered before you finalize upon a particular personal loan.
- Avoid applying for a personal loan with several lenders at the same time. It shows you to be credit hungry and also leads to an increase in the number of hard inquiries for your credit report which may negatively affect the chances of approval of your personal loan.
- Check your credit score before you apply for a personal loan. A good credit score may help you avail a personal loan more easily. It may also help you secure a personal loan on more favourable terms such as a lower interest rate or a longer repayment tenure, etc.
- Borrow according to your need and repayment ability. Avoid borrowing simply because you are eligible to borrow a higher amount.
FAQs
Q. What are the options available for making EMI payments?
You can repay the EMIs through National Automated Clearing House (NACH) mandate using which EMIs will be automatically debited from your bank account on the EMI due date.
Q. Are there any additional charges for InCred personal loan?
A processing fee is charged when you avail an InCred personal loan and it is automatically deducted from the disbursal amount that is payable to you.
Q. Can I foreclose my personal loan?
Yes, you can foreclose your personal loan from InCred only after payment of at least 6 installments. Part prepayment of the loan is not allowed by InCred.
Q. How does the loan amount for InCred personal loan get disbursed?
After your personal loan application is approved, the loan amount gets automatically transferred to your bank account by the lender.
Q. Can I transfer my existing personal loan from another lender to InCred?
Yes, InCred does offer the option of balance transfer for your existing loan as well as credit card outstanding, provided you meet the lender’s various terms and conditions.