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InCred – The Company Definition
InCred is a cutting-edge financial services platform that makes lending simple and rapid by combining technology and data science. InCred is credit and lending service provider for Indian citizen. They utilize data science and technology to make lending quick, easy, and painless. Traditional lending methods for loans, they feel, can exclude individuals who are most in need due to outmoded, inflexible, and frequently wasteful processes.
At InCred, they’ve streamlined the lending process by focusing on their customers’ individual wants and situations, resulting in a truly improved borrowing experience.
Table of Contents
What is InCred Finance, and how does it work?
InCred is a cutting-edge financial services platform that makes lending simple and rapid by combining technology and data science. Personal loans, education loans, and SME business loans are the three types of loans we offer.
InCred Capital
InCred Capital is integrated financing solutions provider. InCred Capital has a comprehensive financing solutions and consulting services in the areas of asset management, credit solutions, capital markets, and investment banking to both corporate and institutional clients.
InCred Capital provides the following services:
• Money Markets-Providing finance solutions through our own capital and a large network of market participants.
• Asset Management- Our customised corporate and financial institutions-focused funds generate good returns.
• Investment banking—providing expert guidance on mergers and acquisitions, as well as strategic capital raising.
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InCred financial services limited
InCred Financial Services Limited (Formerly Visu Leasing & Finance Private Limited) is the registered Company name for InCred.
InCred financial services limited-Objective
• To build a trustworthy, transparent, and high-integrity financial institution that positively improves the socio-economic well-being of lower middle class to middle class Indian households while safeguarding the interests of all stakeholders.
• To instill and nurture a culture of constant innovation and execution excellence by merging cutting-edge technology, data science, and deep financial domain understanding to create the best-suited profitable products in the most dignified experiences for every customer.
• To create a brand through affirmative experiences in which every moment of truth for our stakeholders communicates and affirms fundamental principles.
InCred’s Advantages
• Products that are specifically tailored to your requirements.
• Increased borrowing limitations.
• Repayment choices that are flexible.
• A person-to-person method to lending.
• Outstanding customer service.
• Respectful and considerate.
• There is no need to go to the branch.
• Quick loan approval.
• There is very little documentation.
Types of Loans
Loans in InCred come in a variety of options and categories. As part of the InCred Group, InCred operates four businesses.
InCred Personal Loans:
InCred Personal loans are loans that are made to individuals. InCred recognize that “life occurs,” and that our bank balances are frequently unprepared for unanticipated financial requirements. InCred’s consumer business focuses on providing unsecured personal loans that are both quick to process and reasonably priced, from medical emergencies to pleasant celebrations like weddings.
InCred personal loan interest rate
Personal loan interest rate starts @ 11.49% per annum
InCred Education Loans
Loans for Education-By removing the main barrier our students experience when dreaming of higher education – funding – InCred intends to help India’s growth story and assist present and future generations of Indians embark on their unique nation-building journeys.
Apply for a InCred education loan.
Click Here to apply for InCred Educational Loan.
Process to Apply InCred Educational Loan:
- Visit InCred’s official website.
- Select Educational Loan from the drop-down menu.
- Complete the form and Submit it.
InCred SME Loans
Loans for small and medium-sized businesses. InCred believes that India has the potential to become the world’s fastest expanding economy. India’s growth will be fueled by the country’s SMEs, which number over 50 million and are expanding every day.
Financing and lack of access to credit are, nevertheless, two of the most significant roadblocks to these SMEs’ growth and expansion. By providing operating capital, growth capital, and custom finance solutions, InCred strives to assist such businesses in overcoming these challenges.
What the InCred SME Loan Has to Offer.
- Loan for working capital.
- Working capital loans up to 12 months are available to help you manage your cash flow.
- Obtain a business loan.
- Collateral-free term loans up to 36 months for business expansion.
- Finance through a channel
- Finance your distributors and vendors to increase your sales.
- Products that are specifically tailored to your requirements.
Because every firm is unique, we at InCred offer small and medium business loans with conditions tailored to your specific requirements as a borrower. Get the funding you need to make that next big step and propel your small or medium business to new heights.
How to Apply InCred SME Loan
Process to Apply InCred SME Business Loan:
- Visit InCred’s official website.
- From the upper right corner, select Apply Now.
- Select SME Business Loan from the drop-down menu.
- Complete the form and Submit it.
Loans for Two-Wheelers by InCred
InCred believes in making every Indian’s life easier, which is why they offer two-wheeler loans that are flexible, rapid, and affordable. You can now own your dream bike without having to worry about the cost of ownership.
Process to Apply InCred Two Wheeler Loan:
- Visit InCred’s official website.
- From the upper right corner, select Apply Now.
- Select Two Wheeler from the drop-down menu.
- Complete the form and Submit it.
Other Special Loans by InCred.
- InCred ECLGS (Emergency Credit Line Guarantee Scheme)
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InCred Repayment
The repayment period can be as little as three months or as long as 60 months. The maximum yearly interest rate (decreasing) is 32%.The monthly payment amount is INR 9263, with a total cost of loans of INR 14,161 including the processing fee charged, based on an INR 1,00,000 borrowed amount, annual interest rate of 20%, tenure of 12 months, and processing fee of INR 3,000.
What is Visu Finance and Leasing?
The legal company of InCred Financial Services Limited, holds the RBI-issued Non Banking Finance Company (NBFC) license. This organization is where our Personal Loan, Education Loan, and SME Business Loan sections lend.
How does InCred set itself apart?
InCred has made it possible to take a customer-centric, human approach to lending. Our products are adaptable and can be customized to meet our customers’ specific needs. They use technology and data science to make the borrowing process easier, faster, and less stressful.
Our products eliminate the need for extensive documentation and frequent branch visits. Former bankers and finance experts who have worked in the banking industry for over 15 years make up the InCred team. The team plans to use its extensive experience and knowledge of financial services and enterprises to provide customers with customized finance solutions. The team’s main focus areas are developing long-term, sustainable connections with clients, providing tailored products, and assuring a superb customer experience.
InCred offers a variety of financing options.
• Incred offers three types of loans: personal, education, and small business loans.
• InCred offers retail consumers short-term unsecured personal loans ranging from Rs 50,000 to Rs 7.5 lakhs.
• InCred offers long-term loans to Indian and international students pursuing higher education. The loan amounts vary between Rs 2 lakhs and Rs 100 lakhs.
• Individuals can get long-term loans from InCred for first-time home buyers, self-construction loans, and loans against property. The loan amounts vary between Rs 2 lakhs and Rs 30 lakhs.
• InCred offers small and medium businesses both short-term operating capital and long-term financing. The loans are available in amounts ranging from Rs 1 lakh to Rs 10 crore.
What is the procedure for applying for a InCred loan?
You can apply for a loan in a variety of methods, including:
• By clicking on Apply Now on the official website, you can apply directly.
• Call 1800-102-2192 to speak with a member of the sales team.
• Send an email to care@incred.com.
InCred Customer Identification Document (KYC) List
Documents For Individual
Individual Accounts are a type of narrative that tells the story of a person.
You may required to make a copy of the following:
i) Valid passport (non-expired)
ii) PAN Card or Form 60, depending on the policy.
iii) The Election Commission issues a voter’s identity card.
iv) A valid driver’s license (not expired).
v) NREGA Job Card, fully signed by a state government official.
vi) A letter from the Unique Identification Authority of India (UIDAI) including information such as a person’s name, address, and Aadhaar number.
vii) Information collected through the Unique Identification Authority of India’s e-KYC service (UIDAI).
The following documents will be deemed to be ‘Officially Valid Documents’ in accordance with statutory requirements and the Company’s internal standards where’ simplified measures’ are used to verify the identification of customers:
i) Photo ID card issued by Central/State Government Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, and Public Financial Institutions;
ii) A letter from a gazetted officer accompanied by a duly authenticated photograph of the individual.
iii) Any service provider’s utility bill that is less than two months old (electricity, telephone, postpaid mobile phone, piped gas, water bill);
iv) A receipt for property or municipal taxes;
v) Statement from a bank account or a Post Office savings account;
vi) Pension or family pension payment orders (PPOs) issued by Government Departments or Public Sector Undertakings to retired personnel, if they include the address;
vii) Letters of accommodation allocation from employers issued by state or federal government agencies, statutory or regulatory organizations, public sector undertakings, scheduled commercial banks, financial institutions, and publicly traded companies.
Likewise, leave and licensing agreements with such businesses that provide official housing; and
viii) Documents issued by foreign government departments, as well as letters sent by foreign embassies and missions in India.
Note: It is not necessary that all the above documents will be required to apply a loan at InCred, but as per the company’s requirement you may have to furnish the above said documents.
Documents for Accounts of Company
Company’s financial statements
- Certificate of incorporation;
- Memorandum and Articles of Association;
- Board of Directors resolution and power of attorney granted to managers, officers, or employees to transact on the company’s behalf; and
- An officially valid document in respect of managers, officers, or employees holding an attorney to transact on the company’s behalf.
Documents for Partnership firms
- A certificate of registration;
- A partnership deed; and
- An officially valid document in relation of the person holding an attorney to transact on the company’s behalf.
Documents for Accounts of foundations and trusts.
- A registration certificate;
- A trust deed; and
- An officially valid instrument in regard of the person who has been granted power of attorney to act on its behalf.
Documents for Accounts of an unincorporated group or a group of people.
- Resolution of such association’s or persons’ governing body;
- Power of attorney issued to him to transact on their behalf;
- An officially valid document in relation of the person holding an attorney to transact on its behalf; and.
- Such information as the bank may necessary to collectively demonstrate the legal existence of such an association or group of people.
Proprietorship Concerns Accounts.
Apart from the proprietor’s customer identification method, any two of the following documents in the name of the proprietary firm would suffice:
• Certificate of registration (in the case of a registered business)
• Municipal authorities grant a certificate/license under the Shop and Establishment Act.
• Sales tax returns and income tax returns.
• Certificate of Sales Tax/Value Added Tax (CST/VAT).
• Sales tax, service tax, and professional tax agencies issue certificates/registration documents.
• Any professional body incorporated under a statute may grant a license or certificate of practice in the name of a proprietary firm.
The whole Income Tax return (not simply the acknowledgement) in the single proprietor’s name, showing the firm’s income, officially authenticated/ recognized by the Income Tax Authorities.
However, if the Company determines that the proprietary company will not be able to provide two such papers for any proposal, the Company shall have the authority to accept only one of those documents as activity proof.
In such circumstances, the Company will conduct contact point verification, gather information necessary to verify the existence of the firm, confirm, clarify, and satisfy themselves that the commercial activity has been confirmed from the proprietary concern’s location.
InCred Reviews
They have a rating of 4.0/5 “, Everything appears to be in order with Incred personal loan, and it shall get approved on time and without any problems, according to reviews. The interest rate and processing charge appear to be on the high side and should be reduced. The loan information was clearly communicated by the representative.
InCred App
The InCred App has a lot of features:
• Manage your InCred loan account: Existing InCred customers can download the InCred app to manage their loan accounts (whether personal loans, SME loans, student loans, or home loans).
• Customer Care: Get in touch with customer service.
• EMI Payments: Use the app to make EMI payments.
Download the InCred App from below
Official App Click to Download
Two Wheeler Loan App Click to Download
InCred Comparison
Other Lenders vs. InCred Personal Loan
| Loan Providers (Lenders) | InCred | MoneyTap | Early Salary | StashFin | KreditBee | CASHe |
|---|---|---|---|---|---|---|
| Loan amount Provided | Rs. 75,000 to Rs. 15 lakh | 3000 – 5 lakh | 8,000 – 2 lakh | 500 – 5 lakh | 1000 – 2 lakh | 9,000 – 3 lakh |
| Rate of Interest | 11.49% onwards | 13% to 24.03% | 24% to 30% | 11.99% to 59.99% | 12.24% onwards | 33% to 36% |
| Processing Fees | As per the guidelines in force | Upto 2% of borrowed amount plus GST (everytime you withdraw from the available credit limit) | Up to 1.50% of the loan amount | 0-10% (excluding GST) | Upto 3.5% of the loan amount | Upto Rs.1500 or 3% of the principal amount (whichever is higher) |
| Tenure in Months/ Years | 1 to 5 Years | 2 months to 3 Years | 90 days – 1 Year | 3 months to 3 years | 2 months to 15 Months | 2 months to 1 year |
Official Website
https://www.incredcapital.com/ is the official website of InCred Capital.
FAQs.
Q) What choices do I have for making InCred EMI payments?
Your EMIs will be debited automatically at the end of the monthly cycle on your emi due date through your bank account, and you must reimburse them through National Automated Clearing House (NACH).
Q) What happens if I don’t make my EMI payment on time?
Missing payments is a terrible idea because you’ll be charged a bounce fee as well as a late payment penalty. Your credit history may be harmed as a result, therefore this is not something you should do. If you have legitimate circumstances, such as a job loss or other emergency, please contact us ahead of time so that we can restructure your loan to meet your needs.
Q) Is it possible that my InCred application will be turned down?
It is quite rare for an application to be refused if you are a real borrower with no aim to defraud, a clean or new credit history, and proven incoming. However, fake characters, persons with tainted credit histories, and people with a history of defaulting on loans frequently apply for InCred, and our system is compelled to reject such applications.
Q) Is it possible to prepay or foreclose on my InCred personal loan?
Yes, you can prepay the entire loan balance after the 6th installment at any point throughout the loan term, subject to the payment of standard pre-closure fees as specified in the agreement.
Prepayment in part is not permitted.
Q) What is the best way for me to keep track of my InCred personal loan? Or How can I acquire my statements and repayment schedule, for example?
You can request a Statement of Account or Repayment Schedule using one of the methods below:
• You can contact InCred Customer Service by contacting them or writing to them using your registered email address.
• You can also access all the information by using the InCred app.
Q) Is InCred a non-banking financial institution (NBFI)?
InCred Financial Services Limited (Formerly Visu Leasing & Finance Private Limited) (‘IFSL’ or ‘the Company’) is a Reserve Bank of India-registered Non-Banking Financial Company (NBFC) (RBI).
Q) What is the procedure for obtaining an InCred NOC?
After you’ve paid off your two-wheeler loan in full, you’ll need to get a No Objection Certificate (NOC) from InCred. You can get this from an InCred branch near you. You must then take it to your local RTO (Regional Transport Office) to have the hypothecation removed from the car.
Q) Is it possible for me to speak with someone directly ?
Yes, you can contact to the sales team at 1800-102-2192 with any questions.
InCred Address
InCred Financial Services Limited Address
Corporate Office
Mumbai
The Capital, Plot No. C – 70, G Block, Bandra – Kurla Complex, Mumbai-400051, Maharashtra. Unit No. 1203, 12th floor, B Wing, The Capital, Plot No. C – 70, G Block, Bandra – Kurla Complex, Mumbai-400051, Maharashtra.
Registered office.
The Capital, Plot No. C – 70, G Block, Bandra – Kurla Complex, Mumbai-400051, Maharashtra. Unit No. 1203, 12th floor, B Wing, The Capital, Plot No. C – 70, G Block, Bandra – Kurla Complex, Mumbai-400051, Maharashtra.
InCred Housing Finance Private Limited.
Corporate Address of the company.
Plot No. C – 70, G Block, Bandra – Kurla Complex Mumbai-400051 Maharashtra Unit No. 1203, 12th floor, B Wing, The Capital, Plot No. C – 70, G Block, Bandra – Kurla Complex Mumbai-400051 Maharashtra
Registered office is
The Capital, Plot No. C – 70, G Block, Bandra – Kurla Complex, Mumbai-400051, Maharashtra, Unit No. 1203, 12th floor, B Wing, Mumbai-400051, Maharashtra
Other List of addresses for InCred is as follows:
| City | Office Address |
|---|---|
| Ahmedabad | 3rd floor, Kalapurnum Complex, Above CITI Bank, Near municipal market, C.G. Road, Navrangpura, Ahmedabad- 380009, Gujarat |
| Bangalore | No 8, Second Floor, Feather Lite Vista Building, MV Jayaram Road, Vasanth Nagar, Bangalore-560052, Karnataka |
| Bangalore | Unit 2 First Floor, Discoverer Block, ITPL,WhiteField, Bengaluru-560066, Karnataka |
| Chandigarh | Level 4, Tower A, Godrej Eternia,Plot no. 70, Industrial Area-1, Chandigarh-160002, Punjab |
| Chennai 1 & Chennai 2 | No.1, 1st Floor, Nathamuni Street, T nagar,Chennai-600017, Tamilnadu |
| Coimbatore | Incred Financial Services Ltd, Shop No:36/8, 1st Floor, Ashirwad Tower building (Opp. Bharat Petrol Bunk), D.B. Road, R.S. Puram, Coimbatore, Tamil Nadu – 641002 |
| Delhi | 406, 4th Floor, Competent House Middle Circle, F Block, Connaught Place, New Delhi - 110 001 |
| Hubli | 307, 3rd floor, Nirwana wali Trade winds, Hosura,opp.ksrtc bus stop,Hubli -dharwad road,Hubli,Karnataka |
| Hyderabad | ANKS Tower #6-3-108/A 2nd Floor Raj Bhavan Road Somajiguda Hyderabad-500082, Telangana |
| Jaipur -C scheme | Office No 201, 2nd Floor, City Corporate Building, Near Agrisen Circle, Malviya Nagar, C Scheme, Jaipur – Rajasthan 302001 |
| Kolkata | AWFIS 4th Floor, 8/1A Sir William Jones Sarani, 1 Camac Street, Kolkata-700071 West Bengal |
| Madurai | InCred Financial Services Ltd, No: 4/225, 2nd floor, Arul Nagar Bypass road, Madurai-625016 TamilNadu |
| Mumbai-Andheri | Kaledonia Building,B-wing,3rd floor,Unit No.303A-02,Station Road,Andheri East, Mumbai - 400 053 |
| Nellore | D No:218,Ritwik Enclave, 1st Floor,Next to Ratnam School, Near Current office,A K Nagar Post, Nellore- 524004 , Andhra Pradesh |
| Pune | 4th Floor City Square Building, Maple Group near Zenith Complex behind Pride Hotel, Shivajinagar Pune-411005 Maharashtra |
| Surat | 315-316 3rd floor, LA-Victoriya, Opposite Suryam Villa, Near Galaxy Circle, PAL, Surat- 395009, Gujarat |
| Thane | 316, 3rd Floor, Tower B, Lodha Supremus2, Wagle Estate,Thane-400604 Maharashtra |
| Trichy | No.63/1, chitra complex, 1st floor, Karur by pass road, chatram bus stand, Trichy-620002 TamilNadu |
| Vijayawada | 57-2-15, 2nd Floor, Pantakaluva Road, Vijayawada- 520010 Andra Pradesh |
| Warangal | InCred Financial Services Ltd, Unit no. 5, 2nd Floor, Warangal City Centre, Sy no 15-1-237 part, Industrial Estate Mulugu Road, Warangal– 506007, Telangana |
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