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InCred Personal Loan Offer
InCred personal loan is offered up to Rs. 15 lakh. InCred provides salaried and self-employed individuals with personal loans up to Rs. 15 lakh to address a variety of personal financial commitments. Personal Loans from InCred have a flexible repayment term of up to 60 months, are easy to apply for online, and require minimal documentation. Here in this post you shall get answers to all your queries about InCred personal loan.
Table of Contents
Features of an InCred Personal Loan
• Loan amount: InCred offers personal loans ranging from Rs. 75,000 to Rs. 15 lakh to satisfy a variety of personal financial demands.
• Easy online application: You may apply for an InCred personal loan from the comfort of your own home or workplace using our simple online application process.
• Attractive interest rates: InCred’s personal loan interest rates start at 11.49 percent per annum.
• Flexible payback terms: InCred offers a variety of loan repayment terms, including 12, 24, 36, 48, and 60 months, so borrowers may plan their payments around their schedule.
• Quick disbursement: After successful verification of the financial history and loan documentation, InCred normally approves and disburses a personal loan within 3 working days.
| InCred Personal Loan Keypoints | |
|---|---|
| Rate of Interest | Starting 11.49% per annum |
| Loan Amount Approval | Rs. 75,000 to Rs. 15 lakh |
| Tenure of Loan | Up to 5 years |
| Pre-Closure Requirement | After payment of 6 EMIs forclosure is allowed |
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InCred personal loan interest rate
InCred has an interest rate that starts at 11.49 percent per year. However, the interest rate that applies to a person is determined by his or her specific applicant profile, which includes the person’s credit score, client segment, loan amount, and desired tenure, among other factors.
Personal loan eligibility
Criteria for Eligibility: The following are the requirements for an personal loan:
• You must be an Indian citizen and meet the age requirements set forth by InCred.
• Regardless of whether you work for a corporation or are self-employed, you should be able to earn money.
• You should have a long-term career or business.
Documents Required
For a loan application, you’ll need the following documents.
To get a personal loan, you’ll need the following documents:
• KYC documents, such as an Aadhaar card, a PAN card, a voter ID, and so on.
• Proof of income.
• Proof of address: utility bill (within the last two months)/rent agreement, etc (any one).
• Photo(s) of the applicant in passport size.
Verification of Personal Loans
Following your application for a personal loan with InCred, the verification procedure normally entails the following steps:
1. InCred sends your personal loan application to their internal review team, and you will receive a verification call or representation from them or a representative within 48 hours, however it may take longer in some situations.
2. Your income, KYC, and other documents are either picked up by the prospective lender or you can upload them online.
3. Once the InCred verification is complete and the loan is accepted, you will receive a call from InCred to confirm the loan offer and obtain your approval for disbursement.
4. After you accept the loan offer, the funds are transferred to your account.
Note that the above-mentioned turnaround time for personal loan verification/disbursal is subject to change, depending on the lender’s internal needs and other factors.
Check the status of your personal loan application.
Any of the methods listed below can be used to verify the status of your InCred Personal Loan application:
• You can check the status of your loan application by logging into your account on the InCred website or mobile app. • You can also send an email to care@InCred.com using your registered email address.
• You can contact customer service at 1800-102-2192, which is a toll-free number.
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Other Fees & Charges
Some of the most important fees and charges associated with an InCred personal loan are listed below:
| Fee for processing. | As per the current guidelines. |
|---|---|
| Charges for prepayment or foreclosure. | After paying at least 6 EMIs according to the schedule of charges, foreclosure is permitted. Prepayment in part is not permitted. |
InCred Personal Loan Login & Application
How can I apply for a personal loan from InCred?
Simply follow the procedures below to access InCred’s internet banking portal:
Visit InCred’s official website.
From the upper right corner, select Apply Now.
Select Personal Loan from the drop-down menu.
Enter your desired Loan amount and click Proceed
Complete the form and submit it.
Personal Loan Statement from InCred.
Your personal loan statement is available both online and offline:
• You may read or download your loan statement by logging into your account on the InCred mobile app or website.
• You can also request a statement of your loan account by calling the InCred customer service line at 1800-102-2192 or sending an email to care@InCred.com using your registered email address.
InCred personal loan calculator
For different InCred Personal Loan principal amounts, loan tenures, and interest rates, the following is a sample of monthly EMI payouts generated using Loanpersonal.com’s personal loan EMI calculator:
EMI Calculation TABLE
InCred Personal Loan vs. Other Lenders Comparison
The table below compares the essential features of an InCred personal loan with those of other top lenders in the country:
| 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 |
InCred Personal Loan Customer Care Number
If you have any questions or concerns about InCred personal loans, you can contact the lender’s customer service department using one of the methods listed below:
• Pnone Nuumber:You can reach InCred by phone at 1800-102-2192, which is a toll-free number.
• Email: Please send an email to care@InCred.com.
• Chat on WhatsApp: You can also use WhatsApp to communicate with the customer service staff. The phone number to get this service is (+91)882-627-2192.
• InCred Branch Visit: You can also pay a visit to the nearest InCred branch. The Advantages of Getting a Personal Loan at Incred
Advantages
A few significant advantages of applying for a personal loan at Incred are listed below:
• Because InCred is an entirely online platform, borrowers do not need to physically visit various prospective lenders’ branch offices or websites.
• You can visit the InCred website at any time and from any location.
• You can choose the best option for yourself with InCred because it allows you to evaluate essential personal loan elements like as interest rate, processing fees, foreclosure charges, and more from multiple personal loan providers on a single platform.
• InCred.com allows you to apply for a personal loan for free, with no fees.
• Even before you apply for a personal loan, InCred.com informs you of the EMIs you’ll be paying.
This facilitates better financial planning and management.
Aspects to Consider before InCred Personal Loan
A few crucial elements to consider while applying for a personal loan with InCred are listed below:
• Before applying for a personal loan, check alternative interest rates and fees online to ensure you get the best deal.
• Consider the total cost of the loan. Aside from interest, there are other things to consider, such as processing fees, late payment fees, and so on, before deciding on a personal loan.
• Applying for a personal loan with multiple lenders at the same time is a bad idea. It demonstrates that you are credit-hungry, and it also leads to an increase in the number of hard queries on your credit report, which could hurt your chances of getting a personal loan approved.
• Before applying for a personal loan, check your credit score. A good credit score may make it easier for you to get a personal loan. It may also assist you in obtaining a personal loan with better terms, such as a reduced interest rate or a longer payback period.
• Borrow only what you need and can afford to repay. Avoid taking out a loan just because you are qualified for a larger loan.
FAQs Related to InCred Personal Loan
Q). What are the different payment options for EMIs?
You can pay off your EMIs using a National Automated Clearing House (NACH) mandate, in which EMIs are automatically debited from your bank account on the due date.
Q). Are there any fees associated with an InCred personal loan?
When you apply for an InCred personal loan, you will be charged a processing fee, which will be taken from the disbursement amount due to you.
Q). Is it possible for me to foreclose on my personal loan?
Yes, you can only foreclose your personal loan after paying at least 6 installments. InCred does not enable partial loan prepayment.
Q). How does the InCred personal loan amount be disbursed?
InCred will automatically send the loan amount to your bank account after your personal loan application is authorized.
Q). Can I transfer my current personal loan to InCred from another lender?
Yes, if you meet the lender’s numerous terms and conditions, you can balance transfer your existing loan as well as your credit card debt with InCred.
Q). What is the minimum and maximum amount of a Personal Loan that I am eligible to apply for?
Minimum 75,000 to a maximum of 15,000,000. The actual loan amount eligible, on the other hand, will be determined by your income and other factors.
Q). Are there any fees associated with a Personal Loan?
On each loan, InCred charge a processing fee based on the price matrix they use. You will not be required to pay anything to them or any of their employees because this fee will be removed from the disbursal amount ‘due’ to you.
Q). What method will be used to disburse the loan?
Your loan amount will be delivered digitally to your bank account once you’ve been approved.
Q). Do you have a Personal Loan with a Balance Transfer option?
InCred provide balance transfers for existing loans as well as credit card balances if you match our policy requirements.
Q). Is there any kind of security or guarantor needed to get a Personal Loan?
No, InCred don’t require any kind of security or collateral.
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