Whenever you incur a sudden expense, you can look up to Home Credit to acquire an unsecured loan. Not only are these loans quickly disbursed, but the Home Credit personal loan interest rate is considered good compared to other collateral-free loans.
This blog will give you a brief rundown of Home Credit personal loans, their interest rate and eligibility criteria to help you apply quickly and fulfil your expenses.
Home Credit lets you avail of personal loans up to INR 5 lakhs, with easy repayment options. Here are some features that make Home Credit personal loans attractive:
Plus, Home Credit does not require your credit history. You can apply for a loan even as a first-time borrower.
With Home Credit, you can obtain personal loans at interest rates up to 34% per annum, depending on the amount and tenure of repayment. The interest rate also varies according to your risk profile and does not usually exceed 30%.
Additionally, the repayment options are flexible. You can pay in EMIs and select a minimum duration of 6 months and a maximum duration of 48 months to complete your repayment. Along with the interest rates, here are the other costs that accompany a Home Credit personal loan:
Quick disbursement and a seamless loan application process form the core of Home Credit personal loans. But when you are looking to get a Home Credit personal loan apply only when you have fulfilled the following eligibility criteria:
You also require a PAN or Aadhaar card and an active bank account as identity proof. This account must have Internet banking facilities activated to allow easy disbursal and monthly payments.
You can complete the loan application process in three easy steps, provided you have all the documents and details ready.
Personal loans can be of major assistance in handling emergency expenses. That’s why Fi offers instant loans through licensed partner, Federal Bank, directly deposited into your Savings Account. Users with good credit scores can use these pre-approved loans to manage their expenditures. The best part – the loan process is 100% paperless, and the loans boast competitive interest rates. Plus, the transparency enables you to remain in control of your details. Set up automatic in-app payments to avoid late fee hassles and enjoy a loan of up to INR 5 lakhs!
In most cases, the maximum loan amount depends on your monthly income. Lenders usually grant a loan amount that is 30 times that of your monthly income. So, if you earn INR 20,000 per month, you are easily eligible for a loan of INR 6 lakhs.
Home Credit and other lenders mandate a minimum salary of INR 10,000 per month to approve your loan amount.