InCred Finance

Product Overview

InCred Finance Personal Loan is offered by InCred Finance to provide quick financial assistance for needs like medical emergencies, travel, wedding, or other personal expenses. It features a fully digital process, quick approval, and flexible repayment options for salaried individuals.

Eligibility Criteria

✔️ Applicant must be an Indian resident
✔️ Age: 21 to 60 years
✔️ Salaried individual (primary target segment)
✔️ Minimum monthly income: ₹15,000+ (varies by city/profile)
✔️ Minimum work experience: 6–12 months
✔️ Good CIBIL score (700+ required, 750+ preferred)

Features and Benefits

✔️ Loan Amount: ₹50,000 to ₹15,00,000 (based on eligibility)
✔️ Interest Rates starting from ~16% p.a. onwards
✔️ Quick approval & fast disbursal
✔️ 100% digital & paperless application process
✔️ No collateral required (unsecured loan)
✔️ Flexible repayment tenure up to 60 months (5 years)
✔️ Minimal documentation required
✔️ Suitable primarily for salaried individuals
✔️ Multi-purpose usage (no restriction on end use)

Fees & Charges

✔️ Interest Rates: ~16% – 36% p.a. (profile-based)
✔️ Processing Fee: Up to 2% – 5% of loan amount (+GST)
✔️ Tenure: 12 to 60 months
✔️ Foreclosure Charges: Applicable as per lender policy
✔️ Penal Charges: Applicable on overdue EMIs

Documents Required

✔️ Identity Proof (PAN Card mandatory)
✔️ Address Proof (Aadhaar / DL / Voter ID etc.)
✔️ Income Proof (Salary Slip / Form 16)
✔️ Bank Statements (last 3–6 months)
✔️ Employment details

FAQs

Q1. What is the maximum loan amount in InCred Personal Loan?
Ans. You can get ₹15 lakh or more depending on eligibility.

Q2. What is the interest rate?
Ans. Interest rates generally start from around 16% per annum and vary based on profile.

Q3. How fast is loan disbursal?
Ans. Loans are usually disbursed quickly after approval and verification.

Q4. Is collateral required?
Ans. No, it is an unsecured loan and does not require any security.

Q5. Who can apply for this loan?
Ans. Primarily salaried individuals with stable income can apply.

Terms & Conditions

✔️ Loan approval is subject to internal credit policies of InCred Finance
✔️ Interest rates and loan terms vary based on applicant profile
✔️ Processing fees are non-refundable
✔️ Late payments may attract penalties and impact credit score
✔️ Final approval is at the discretion of the lender