Home credit Personal Loan for customers to meet their various monetary requirements like a medical emergency, travel, debt consolidation, etc. Furthermore, The Bank promises easy verification and fast grants with which customers will be able to avail a lot of benefits making their life easier by better personal finance management.
Anyone looking for a fast and straightforward disbursal of personal loan may apply with Home credit by checking in all the documentation and suitable requirements.
Why opt for Home Credit Personal Loan
Home credit grants you personal loan starting at Rs.50,000 to Rs.40,00,000 depending on the client’s financial power, credit score, and professional background.
Customers can benefit the personal loan without much tension, and they can have their request permitted inside four working hours.
Home credit requires very less documentation for the approval of the loan, and the loan process is very speedy.
No Guarantor or Cosigner is required to avail the loan.
Eligibility for Home Credit Personal Loan
Salaried
Profession: The person should be working in a government, private or MNC Company.
Eligible Age: The Minimum age to apply for a Personal Loan is 19 years, and a maximum of 60 years.
Minimum income: The person should be getting a minimum of 15000p.m. Salary.
Work Experience: The applicant should have at least three years of working experience, and more than three months of experience in the current Company.
CIBIL score and EMI percentage: The minimum CIBIL score required for Personal Loan is 650 & maximum EMI should be not more than 65% of monthly income.
Self-Employed
Profession: The Person should be professionals like Doctors, CA, CS, Architects, Lawyer, or, doing his own business.
Eligible Age: The minimum age to apply for a personal loan is 21 years, and the maximum is 65 years.
Minimum income: The minimum revenue from business or the profession should be not less than 25,000p.m.
Work Experience: The person should have at least two years of his professional experience.
CIBIL score and EMI percentage: The minimum CIBIL score required for Personal Loan is 650 & maximum EMI should be not more than 65% of monthly income.
The customer must be a citizen of India.
The borrower must possess an updated Aadhaar ID.
The customer should hold an active bank account that has an internet banking facility.
Home Credit Personal Loan Interest rate
The interest rate is 12-30% per annum. The price of interest offered by home credit is as per the amount of loan and tenure of the loan, still competitive while rest might not be much flexible. The final rate offered would vary and calculated based on below-mentioned points.
Profile of Customers
Tenure of the Loan
Geography of residence
Nature of Collateral (If provided)
Prior/Existing relationship with the Bank.
Documents Required
Salaried
Identity Proof: Adhar Card, Passport, Voter ID card or Driving License
Address proof: Ration card, Passport, rent agreement, electricity/water bill.
Last six months Bank statement & 3 months’ salary slip
Latest form 16
PAN card
Self-Employed
Identity Proof: Adhar Card, Passport, Voter ID card or Driving License
Address proof: Ration card, Passport, rent agreement, electricity/water bill.
Latest six months of Bank statement.
Latest ITR along with computation of income along with P/L audited by certified CA for the previous two years.
Tenure
Tenure is the period for which you get the loan; here it is for five years.
About Home credit Bank
Home Credit India Finance Pvt. Ltd. is a leading Non-Banking Financial Company (NBFC)specializing in consumer finance lending. The Company is devoted to giving easy credit and financial inclusion by offering better commercial solutions that are straightforward, understandable, and approachable to all. With the most extensive penetration in sub Rs.10,000 category, Home Credit India has an employee count of around 15,000 people and has been consistently expanding operations since its inception in the year 2011, with its services happening in over 179 cities and towns across 20 States of India.
How to apply for Personal Loan?
FAQs(Frequently Asked Questions)
Q1. Why should I take a personal loan from Home credit?
Ans: Home credit provides a Personal Loan at an affordable rate of interest with the low EMI options. Also, the Bank processes the Loan very quickly without much difficulty.
Q 2. What interest is charged by home credit personal loan?
Ans: Personal loan interest rates usually start at 12%. However, it fluctuates time to time. Besides that, it also depends on the profile of the client.
Q 4. What is the tenure of Personal Loan?
Ans: The tenure of Personal Loan is 1-5 years.
Q 5. What amount Personal Loan amount I can borrow from home credit?
Ans: The applicant can get a loan amount of Rs. 2 lacs at maximum for a period of 1 year, depending on the professional background.
Q 6. How much does the home credit charge a processing fee on a personal loan?
Ans: The processing fee charged is 0.
Q 7. Is age an eligibility criteria in getting a personal loan?
Ans: Yes, age is a factor to apply for a personal loan. The minimum age of the applicant should be 19years.
Q 8. Do prepayment charges on a personal loan from home credit apply?
Ans: Yes, the pre-closure charges are from 2% to 4% depending on the time of the loan.
Q9. How can I get a personal loan with low CIBIL score?
Ans: You cannot get a personal loan with low CIBIL score; however, you can go for a gold loan.