About InCred Personal Loans

Incred Finance or InCred as it is popularly referred to as is a Nonbanking Financial Company that extends personal loans, education loans, business loans and home loans to Indian borrowers. The company was founded by Mr Bhupinder Singh who once used to head Deutsche Bank’s Corporate Finance Division. It is headquartered in Mumbai, Maharashtra and is a fairly new age lender which tries to make the best
use of data science and technology to quicken up and smoothen the lending process for the borrowers in India. The name InCred is a derivative of ‘Incredible India’ and they take into account the unique needs and circumstances of Indian borrowers, to make sure that each one of them enjoy a fabulous lending experience with them.

InCred offers personal loans to help people tide over any of their immediate financial problems whether to do with payment of medical bills, wedding expenses or even a vacation. You can even use InCred personal loan for repair work in your home, debt repayment, auto repair and much more. Following are more details on the InCred personal loan eligibility criteria, features and the applicable fees.

Personal Loan Eligibility Criteria for Salaried / Self-Employed

InCred personal loan can be applied for by any salaried individual or a self-employed professional/nonprofessional as long as the person can furnish proof of regular source of income. You will need to submit all required documents (income as well as KYC documents) in this regard. There is no need of any guarantor of security for the eligible applicants. You can find more details related to InCred personal loan eligibility criteria such as the minimum and maximum age, qualification, income, credit score etc. below.

18 – 65 years

Age (Min – Max)

4k – 65k

Minimum Income (Metro Cities)

4k – 65k

Minimum Income (Other Cities)

18 – 65 years

Age (Min – Max)

4k – 65k

Minimum Income (Metro Cities)

4k – 65k

Minimum Income (Other Cities)

4k – 65k

Minimum Income (Doctors/ Chartered Accountants)

4k – 65k

Minimum Income (Company Secretary / Architect)

4k – 65k

Minimum Income Self Employed (Businessman)

InCred Personal Loan Features / Details

Some of the unique aspects of InCred personal loans are that they are tailor-made for the people’s unique needs, offer flexible repayment options and come with higher loan limits. There is a human approach to lending which is both caring and respectful, ensuring that you get world-class customer service. The quantum of personal loan from InCred can range from INR 50,000 to INR 7.5 lakh. The loan can be availed for 12 months, 24 months, 36 months, 48 months or 60 months. You’re allowed to prepay the complete outstanding amount at any point of time after the 6 th instalment as long as you pay the pre-specified pre-closure charges. The lender doesn’t allow part prepayment of the personal loan. You can even transfer any already running personal loan with another bank or financial institution to InCred at attractive interest rate. More specific details related to InCred personal loan features can be found below.

18.25%

Interest Rate (Min)

Upto XX Years.

Loan Tenure

25k – 50Lacs

Loan Amount (Min – Max)

InCred Personal Loan Fees / Charges

All InCred personal loan applications are subjected to a processing fee based on a predefined pricing matrix set by the lender. This fee is deducted from the sanctioned personal loan amount and hence you don’t need to pay it as an extra. Apart from that, various other types of charges might apply including prepayment charges, late payment charges, loan cancellation charges, amortisation schedule charges etc. depending upon the needs of the borrower. You can find updated details for all these charges below.

2.4% of Loan Amount.

Processing Fees

2.4% – 5.2% of amount prepaid.

Pre-payment Charges

Yes / No

Part Payment Facility

2000

Part Payment Processing Fees