Interest Rate
14 - 14
Processing Fee
Loan amount
25000.00 - 200000.00
5 years
Avail funds with Minimal Documentation

Home Credit Personal Loan is most suitable for any type of borrower who is looking a short-term personal loan. Home Credit offers personal loans of maximum upto Rs. 2 Lacs only with a maximum repayment period of 48 months and @14% annual interest rate. However, the funds can be availed easily by completing a digital application process through the mobile app with zero physical documentation.

Moreover, Home Credit allows every kind of borrower, be it salaried, self-employed or pensioners and even ones who doesn’t have a credit score.

Home Credit Personal Loan at a glance

Home Credit Personal Loan
Annual Interest Rate 14%
Loan Term 12 Months - 48 Months
Loan Amount Rs. 25,000 - Rs. 2 Lacs
Time of Funding Within 24 hours of Approval
Pre-Closure Charges Nil

Home Credit Personal Loan Rate of Interest

Personal Loan Type Applicable Interest Rate
Home Credit Personal Loan 14% per annum

The interest rate levied by Home Credit Finance on personal loan starts from 14% per annum as compared to the other private lenders like Bajaj Finance who offers personal loans at minimum 12.99%, and Indiabulls who offers unsecured personal loans starting from 11.99% per annum.

Home Credit Personal Loan Eligibility

Eligibility Criteria
Age Minimum 19 Years
  • Applicant must be minimum 19 years at the time of loan application.
  • Applicant should have webcam with good internet connection.
  • Should have a saving bank account with net banking facility enabled.

Home Credit is a Good Fit for you if?

If You don’t have Credit Score

Home Credit offers personal loan to everyone even if the borrower doesn’t have any credit score yet unlike the peers like Aditya Birla Capital who demands the borrower to have a minimum credit score of 750 points.

If You’re Looking for Small Loan Amount

Home credit is best suitable for you if you wants to avail a small amount of funds, between Rs. 25,000 to as high as Rs. 2 Lacs only.

Why Choose Home Credit?

No Prepayment Charges

Home Credit doesn’t charge any charges on prepayment of the loan unlike the many of the banks and competing financial institutions such as, in case of availing a personal loan from Indiabulls Dhani where the borrower has to pay the pre-closure charges of upto 5% of the principal outstanding.

Instant Disbursal

With home credit, the applicant can avail the funds instantly after getting approved by the financial institution. Hence, the borrower doesn’t need to wait to receive the funds.

Payment Holidays

A borrower can avail payment holiday after the repayment of first 2 EMI on or before the payment due date. And, home credit will simply postpone the EMI for a month without hurting the credit history of the borrower. All the borrower needs to do is, simply call the customer care 6 days prior to the date when he/she wants to avail the facility. A borrower can avail a maximum of two payment holiday with a time difference of 6 months.

Life Cover equal to 1.25 times of Loan Amount

With home credit personal loan, the borrower can also opt for a life cover equal to 1.25 times of the loan amount, where he/she can ensure the repayment of the loan in case of death.

Zero Cancellation Charges

With home credit, you don’t need to worry about those high charges in regards to loan cancellation. The borrower can simply return the total outstanding amount within 15 days of disbursal without paying any charges.

What to watch out for?

Maximum Amount of Only Rs. 2 Lacs

The maximum amount home credit offers to personal loan borrower is limited to only Rs. 2 Lacs. Hence, if the borrower is an existing Home Credit customer but needs a loan amount higher than Rs. 2 Lacs, then he/she will have to look for other lender like Indiabulls Consumer Finance and Aditya Birla who offers upto Rs. 15 Lacs with instant disbursal facility.

No Top-up Loan

Unlike many of the banks and financial institutions, Home Credit doesn’t give its personal loan customer the option to avail additional funds until they have completed the repayment on existing loan account.

Disbursal Not Available on Bank Holidays and National Holidays

Although, home credit offer instant funds through digital application processing, a borrower can still fail to get the funds on time since disbursal cannot be made on bank and national holidays.

6 Months Prepayment Lock-in Period

In case of Home Credit, if a borrower wants to prepay his loan amount, then he/she have to wait for at least 6 months after the disbursal. Although, some of its competitors like Bajaj Finserv allow its customers to prepay the loan anytime after the 1 month of disbursal.

Payment Holiday Allowed Twice Only

Although, home credit offers repayment two repayment holidays, but the borrower cannot avail both repayment holidays one after another. The borrower has to wait for at least 6 months after the first repayment holiday, to avail the 2nd repayment holiday where the borrower shouldn’t be making any default during the 6 months period.

No Option to Change the Due Date

Home Credit doesn’t allow its borrower to change the payment due date. Hence, the borrower has to manage the monthly installments accordingly which can be difficult if the borrower is a salaried person with little to no savings at the moment, and he/she would end-up paying a minimum of Rs. 350 in case of default by only one day.

Compare Home Credit Personal Loan to Other Banks

Bank Name Home Credit Indiabulls Aditya Birla Capital
Typical APR 14% 11.99% - 26% 14% - 26%
Loan Term 12 Months - 48 Months 3 Months - 72 Months 6 Months - 36 Months
Maximum Lending Amount Rs. 2 Lacs Rs. 15 Lacs Rs. 15 Lacs
Processing Fee Nil 1.50% to 5% of the loan amount 2% of the loan amount
Time to Funding Within 24 hours of Approval Within 3 minutes of Approval Within 30 minutes of Approval
Pre-Closure Nil 5% of the principal outstanding Nil

Home credit offers personal loans at annual interest rate of 14% which is average as compared to its peers like Indiabulls Finance who offers funds at 11.99% to 26% per annum and Aditya Birla Capital Finance who offers funds at 14% to 26% per annum. However, the offered interest rates are pretty high as compared to what most of the banks are offering, except in case of indiabulls dhani.

Apart from the interest rate, Home Credit offer repayment period of minimum 12 months to maximum 48 months whereas aditya birla offers tenure as low as 6 months and indiabulls offers personal loans with tenure as low as 3 months. Moreover, out of all the three, indiabulls is the only one which offers personal loan with repayment period longer than 4 years. As far as the maximum loan amount is concerned, home credit offers only Rs. 2 Lacs as compared to both, Indiabulls and Aditya Birla Finance where the borrower can avail as high as Rs. 15 Lacs.

Loan Offerings

Home Credit Cash Loan

Home credit offers personal loans of minimum Rs. 25,000 to a maximum upto Rs. Rs. 2 Lacs. The interest rate at home credit starts from 14% per annul. However, the borrower doesn’t need to pay any other charges related to the loans since they levies no cost in regards to processing of the loan and documentation etc.

As for the tenure if concerned, the borrower can opt for the tenure between 12 months to maximum 48 months, as he/she find suitable in regards to the monthly installment amount.

Home Credit Personal Loan Documentation

Documentation required for all type of borrowers

  • Copy of PAN Card
  • Copy of any residence proof

How to Apply for Home Credit Personal Loan?

At Kredit

  • Check the personal loan offering mentioned above and click on "Get Started" button.
  • Now provide your information such as your mobile number, email address, date of birth etc.
  • Cross check all the provided information and click on "Submit".

Fees & Charges

Type of Charges Applicable Amount
Processing Charges 0%
Foreclosure Charges
Allowed after first 6 EMIs
Penal / Default Charges Rs. 350 for delay by 1 day.
Rs. 800 for delay upto 30 days.
Rs. 1350 for delay upto 60 days
Rs. 2100 for delay beyond 60 days.
Direct Debit Bounce Charges Rs. 300 per instance

The fees and charges levied by Home Credit is comparatively cheaper than it competitors. It offers zero processing charges and have nil charges in regards to foreclosure. Whereas, it’s competitor, Indiabulls charges processing fee of upto 5% of the sanctioned loan amount and Aditya Birla finance equals to 2% of the loan amount. And, in case of foreclosure, indiabulls charges 5% of the principal outstanding amount but aditya birla charges no prepayment cost as same like Home Credit.

However, the default charges ranges from minimum Rs. 800 to maximum Rs. 2100 depending upon the days past the payment due date whereas the competitors charging 2% to 3% of the overdue EMI amount.


How to make the EMI payment?

Pay your EMI through Home Credit Website

  • Click here to go to EMIs through repayment portal of Home Credit.
  • Enter your Contract ID which has been assigned to you at the time of loan sanction.
  • Confirm the Contract ID and enter other required details along with the EMI amount.
  • Choose any of the payment option, debit card or net banking, through which you want to make your payment.
  • Click on “Proceed”. If you have chosen debit card option, then you’ll receive an OTP on your registered email id. If you have chosen net banking option, then you’ll be redirected to your net banking transaction verification page.

Pay your EMIs through Home Credit Mobile App

  • Download the Home Credit Mobile App for Android phones from here.

Fund Transfer via NEFT

  • Login to your net banking account and choose NEFT under fund transfer section
  • Add Home Credit as Payee.
  • Beneficiary Name: Home Credit India Finance Private Limited.
  • Beneficiary Account No.: HCIN******* (Your 10 digit Home Credit contract ID)
  • Bank Name: Citi Bank N.A.
  • City: Delhi
  • IFSC Code: CITI0000002
  • Account Type: Current Account (CA)Amount in Rupees: xxxxxxxx (Your monthly repayment amount).

How to contact Home Credit Customer Support?

You can contact the Home Credit customer support by dialing 1800-121-6660 (toll-free) from your registered mobile number or via email at

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