Home Credit
Personal Loan

• Purpose: The loan can be utilised for any purpose. There is no restriction on end-use. The loan can be used for consolidation of debts, renovation and repairs of the existing house, to plan a wedding, to purchase a gadget, to plan a holiday, for medical emergencies, or for the education of children. The loan can be used for anything except for a speculative and betting purpose.
• Quantum: The minimum quantum of loan is Rs. 10,000 and the maximum quantum is Rs. 5 Lakhs. The loan can be availed in multiples of Rs. 5,000.
• Interest: The interest rate depends on the tenure of the loan, loan amount, customer profile, etc. and is decided on a case to case basis. Interest is charged from 24% up to 49% p.a.
• Repayment: The maximum repayment period for the loan is 36 months.
• Security: This is an unsecured loan and so there is no need of any security.
• Processing fee: Varies from 2.5% to 5% of the loan amount sanctioned.

The benefits of Home Credit Personal Loan are:

• The whole process is quick and easy
• Online loan application
• Paperless documentation
• Instant approval
• The loan is disbursed within hours of execution of documents
• Competitive rate of interest
• Nominal processing charges
• No hidden charges
• The entire loan process is transparent

The following eligibility criteria have to be complied with to qualify for the loan. The applicant:

• Should be in the age group between 19 years and 68 years.
• Should be a Resident Indian.
• Individuals must be earning a minimum monthly income of Rs. 10,000.
• Should either be a salaried individual or should have income from business or should be drawing a pension.
• Should have a valid mobile number and an email address.
• Should have valid address proof and a PAN Card.
• Should have a personal bank account with net banking facilities.
• Should have an internet connection and webcam which are functioning.

The following documents are required for Home Credit Personal Loan:

• PAN Card
• Aadhaar Card
• Voter ID (should not have expiry within 3 months of application)
• Passport (should not have expiry within 3 months of application)
• Driving license (should not have expiry within 3 months of application)
• Aadhaar XML along with valid share code (should be generated recently). Aadhaar XML can be downloaded through an easy online process with valid share code.

• Processing Fee:  It depends on the amount withdrawn. The fee can vary between 2.5% - 5% of the loan amount.