Home Credit Personal Loan Features
| Eligibility Criteria | Details |
| Home Credit Personal Loan Interest Rate | 9.75% p.a. |
| Lowest EMI per lakh | Rs 2112 |
| Tenure | 12 to 60 months |
| Home Credit Personal Loan Processing Fee | 1% to 2% of Loan Amount |
| Prepayment Charges | Allowed after 12 Months (2 – 4 %) |
| Part Payment Charges | Allowed after 12 Months (2 – 4 %) |
| Min Loan Amt | ₹ 50,000 |
| Max Loan Amt | ₹ 75 Lakh |
What is Home Credit Personal Loan?
A Home Credit Personal Loan can be used in any way as the borrower wishes. It falls under the category of unsecured loans. You do not have to pledge anything against the loan. This type of loan can also be used to improve your credit rating. It can be availed in no time at all as the procedure is very simple.
Why Should You Apply For Home Credit Personal Loan?
1. The loan amount depends on the income and repayment capability of the person.
2. It is a multi-purpose offer that can be used for almost all financial problems of life.
3. No collateral like property or asset is required.
4. No cosigner required.
More About: Personal Loan
Home Credit Personal Loan Eligibility
Everyone can not avail a personal loan, and there are some eligibility criteria on which the bank provides loan. There are two categories of applicants:
1. Salaried
2. Self-employed
Salaried Applicant:
1. The minimum age of the applicant should be 21 years.
2. If the borrower resides in a metropolitan city, then the minimum income should be Rs 18,000. And if the person belongs to a non-metropolitan city, the minimum salary should be Rs 12,000.
3. The borrower must have a working experience of the last three years, and the salary should be deposited in their bank account only.
4. If the person has applied for a personal loan, then he should have a good credit history.
5. The documentation process is simple; he has to submit his bank statement of the last three months and the salary slip of the previous six months.
Self-Employed Applicant:
1. The age of a self-employed applicant should not be less than 25 years.
2. The applicant should have been filing his ITR for the last three years.
3. The applicant should have a good credit score, with no debt left due.
4. The minimum ITR filed should be 2.5 lakhs per annum.
5. If the applicant has a business, then his business should be running for the last three years.
Home Credit Personal Loan Documents
1. Identity proof ( Passport/ voter card/ driving license/ aadhar card)
2. Residence proof (passport/ voter card/ driving license/ ration card/ aadhar card). If the borrower is living in a rented apartment, then he has to submit his rental agreement and electricity bill which has to be on the name of the applicant and the address of the owner.
3. PAN card of the applicant has to be submitted under KYC formality.
4. If the applicant is s salaried one, then he has to submit his salary slip of the last three months and the bank statement of the last six months.
5. If the applicant is self-employed, then, he has to submit the ITR of the last three years, and registration of their business should be done.
6. Two passport size colored photos.
Home Credit Personal Loan Interest Rates
Personal loan interest rates may vary from person to person as it depends on the salary and CIBIL score of the applicant. The interest rate of personal loan starts from 9.75% per year.
Home Credit Personal Loan Tenure
The tenure of a personal loan is from 1 to 5 years.
How to apply for Home Credit Personal Loan?
- Visit www.bookmyloans.in
- Fill the application form for the personal loan.
- You will get a callback and will be given guidance.
- If you are eligible, then your loan will get approved in no time.
About Home Credit Personal Loan
Home Credit is one of India’s leading Non-Banking Financial Company founded in 1997. The company has its headquarters in Netherlands. It deals with providing different finance options to people.