Are you looking for a quick and easy way to get a personal loan?
Do you want to borrow money for any purpose, such as home renovation, medical emergency, wedding, travel, or debt consolidation?
Do you want to know how you can get upto 10 lakh in 24 hours with Incred Finance Personal Loan?
If you answered yes to any of these questions, then this article is for you.
In this article, I will tell you everything you need to know about Incred Finance Personal Loan, one of the best personal loan options in India.
By the end of this article, you will have a clear idea of whether Incred Finance Personal Loan is suitable for your needs or not.
And you will also know how to apply for it in a few simple steps.
So, let’s get started.
What is Incred Finance and what are its services?
Incred Finance is a new-age digital lending platform that offers various financial products and services to individuals and businesses.
Incred Finance was founded in 2016 by Bhupinder Singh, a former Deutsche Bank executive, with a vision to make credit accessible and affordable for everyone.
Incred Finance uses advanced technology, data analytics, and artificial intelligence to provide customized solutions to its customers.
Some of the products and services offered by Incred Finance are:
- Personal loans
- Education loans
- Home loans
- Business loans
- Consumer durable loans
- SME loans
- Healthcare finance
In this article, we will focus on one of the most popular products of Incred Finance: Personal Loan.
What are the benefits of Incred Finance Personal Loan?
Incred Finance Personal Loan is a flexible and convenient way to borrow money for any personal or professional need.
You can use it for any purpose, such as:
- Home renovation
- Medical emergency
- Debt consolidation
- Business expansion
- And more…
Some of the benefits of Incred Finance Personal Loan are:
- High loan amount: You can get upto 10 lakh as a personal loan from Incred Finance.
- Fast approval and disbursal: You can get your loan approved within minutes and disbursed within 24 hours.
- Competetive interest rates: You can enjoy competitive interest rates starting from 11.49% per annum.
- Flexible tenure: You can choose a repayment tenure ranging from 6 months to 36 months as per your convenience.
- Minimal documentation: You can apply for a personal loan online with minimal documentation and verification.
- No collateral or guarantor required: You don’t need to provide any security or guarantor to get a personal loan from Incred Finance.
- No prepayment or foreclosure charges: You can prepay or foreclose your loan anytime without any extra charges.
Sounds good, right?
But before you apply for a personal loan from Incred Finance, you need to know some important details about its interest rates, eligibility criteria, and documents required.
Let’s see them in the next section.
Interest Rates of Incred Personal Loan
The interest rate of your personal loan depends on various factors, such as:
- Your credit score
- Your income
- Your repayment history
- Your loan amount
- Your loan tenure
The higher your credit score, income, and repayment history, the lower your interest rate will be.
The lower your loan amount and tenure, the lower your interest rate will be.
The interest rate of Incred Finance Personal Loan ranges from 11.49% to 36% per annum.
The average interest rate is around 18% per annum.
How does Incred Finance compare with other lenders in terms of interest rates?
Here is a table that shows the interest rates of some of the leading personal loan providers in India:
|Lender||Interest Rate (per annum)|
|HDFC Bank||10.75% – 21.30%|
|ICICI Bank||11.25% – 22.00%|
|Bajaj Finserv||12.99% – 16.00%|
|SBI||9.60% – 15.65%|
|Incred Finance||11.49% – 36.00%|
As you can see, Incred Finance offers competitive interest rates, but they are not the lowest in the market.
However, you can reduce the interest rate of your loan by following some tips, such as:
- Improve your credit score by paying your bills on time and maintaining a low credit utilization ratio.
- Increase your income by taking up a side hustle or asking for a raise.
- Choose a shorter loan tenure to pay less interest over the loan period.
- Compare different lenders and negotiate for a better deal.
By following these tips, you can save money on your personal loan interest.
Eligibility for Incred Finance Personal Loan
To be eligible for Incred Finance Personal Loan, you need to meet the following criteria:
- You must be an Indian citizen and resident.
- You must be at least 21 years old and not more than 60 years old at the time of loan maturity.
- You must have a minimum monthly income of Rs. 20,000.
- You must have a minimum credit score of 650.
- You must have a stable employment history with at least 6 months of work experience in your current organization.
- You must have a valid identity proof, address proof, and income proof.
If you meet these criteria, you can apply for Incred Finance Personal Loan online.
Documents Required for Incred Finance Personal Loan
To apply for Incred Finance Personal Loan online, you need to submit the following documents:
- Identity proof: Aadhaar card, PAN card, passport, voter ID card, or driving license.
- Address proof: Aadhaar card, passport, voter ID card, driving license, utility bill, or rent agreement.
- Income proof: Salary slips for the last 3 months, bank statements for the last 6 months, and Form 16 or ITR for the last 2 years.
You can upload these documents on the Incred Finance website or app while filling the online application form.
You may also need to provide a post-dated cheque or an ECS mandate for the repayment of your loan.
Once you submit your documents, Incred Finance will verify them and approve your loan within minutes.
You will then receive the loan amount in your bank account within 24 hours.
How to Apply for Incred Finance Personal Loan !
Applying for Incred Finance Personal Loan online is very easy and convenient.
You can do it in four simple steps:
- Visit the Incred Finance website or download the Incred Loan App from Google Play Store or Apple App Store.
- Fill the online application form with your personal, professional, and financial details.
- Upload the required documents and choose your loan amount and tenure.
- Submit your application and get instant approval and disbursal.
You can now use your personal loan for any purpose you want.
But before you do that, you should know the pros and cons of Incred Finance Personal Loan.
Pros and Cons of Incred Personal Loan
How to Contact Incred Finance ?
If you have any queries or complaints about Incred Finance Personal Loan, you can contact them through the following channels:
- Phone: You can call their customer care number 1860-500-2192 from Monday to Saturday, 9 am to 6 pm.
- Email: You can email them at email@example.com or firstname.lastname@example.org.
- Website: You can visit their website and fill the contact form or chat with their online representative.
- App: You can use the Incred Loan App and access the help section or chat with their online representative.
Incred Finance Personal Loan is a good option for those who need money urgently and have a good credit score and income.
It offers high loan amount, fast approval and disbursal, low interest rates, flexible tenure, minimal documentation, no collateral or guarantor required, and no prepayment or foreclosure charges.
However, it also has some drawbacks, such as high credit score requirement, high income requirement, high maximum interest rate, limited service area, and mixed customer reviews and ratings.
Therefore, you should compare different lenders and choose the best personal loan for your needs.
If you think Incred Finance Personal Loan is suitable for you, you can apply for it online in a few simple steps.
Just visit their website or download their app and follow the instructions.
You can get upto 10 lakh in 24 hours with Incred Finance Personal Loan.
So, what are you waiting for?
Thank you for reading this article. I hope you found it useful and informative. If you have any questions or feedback, please leave a comment below. And don’t forget to share this article with your friends and family who might need a personal loan.
How long does it take to get a personal loan from InCred?
You can get a personal loan from InCred within 24 hours of applying online, provided you meet the eligibility criteria and submit the required documents. You can get your loan approved within minutes and disbursed to your bank account within a day.
What is the maximum loan amount for InCred?
The maximum loan amount for InCred personal loan is Rs. 10 lakh, subject to your eligibility and approval. The minimum loan amount is Rs. 25,000.
What is the minimum cibil score for InCred personal loan?
The minimum cibil score for InCred personal loan is 650. However, InCred may also consider other factors such as your income, repayment history, loan amount, and tenure while deciding your loan eligibility and interest rate.
How do you repay an InCred loan?
You can repay an InCred loan through EMI (equated monthly installment) mode. You can choose a repayment tenure ranging from 6 months to 36 months as per your convenience. You can also prepay or foreclose your loan anytime without any extra charges.
Is InCred registered with RBI?
Yes, InCred is registered with RBI as a Non-Banking Financial Company (NBFC). It follows the guidelines and regulations of RBI for its lending operations.
How do I get NOC from InCred Finance?
NOC (No Objection Certificate) is a document that certifies that you have cleared your loan dues and have no outstanding balance with the lender. You can get NOC from InCred Finance by contacting their customer care number 1860-500-2192 or emailing them at email@example.com or firstname.lastname@example.org. You can also visit their nearest branch and request for NOC.