incredfinance
incredfinance
Interest rate Minimum
15 P.A
Interest rate Maximum
20000 P.A
Age Group
23+
CIBIL score
750+
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Features
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Loan Amount: You can borrow anywhere from ₹50,000 up to ₹15 Lakhs.
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Repayment Tenure: Flexible EMIs ranging from 12 months to 60 months (1 to 5 years).
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Interest Rates: Generally start from 13.49% to 13.99% per annum, but depending on your credit profile and risk assessment, rates can go up to 36% p.a.
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Processing Fees: Typically ranges from 2% to 5% of the loan amount, plus applicable taxes.
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Turnaround Time: The application is 100% paperless. Once approved, InCred is known for very fast disbursals, often crediting the funds to your bank account within 15 minutes to a few hours.
Eligibility
To qualify for an InCred personal loan, you need to meet the following basic requirements:
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Age: Between 21 and 60 years old.
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Employment Type: Both Salaried and Self-employed individuals are eligible to apply.
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Minimum Income: You must have a net monthly income of at least ₹15,000.
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Credit Score: While a good credit score (700+) helps secure the lowest interest rates, InCred occasionally evaluates applicants based on alternative data, meaning those with limited credit history might still get approved (though likely at a higher interest rate)
Documents Required
Because the process is entirely digital, you just need to upload or digitally verify the following:
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Identity Proof: PAN Card (Mandatory).
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Address Proof: Aadhaar Card, Passport, or Voter ID (Aadhaar is generally used for quick e-KYC).
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Income Proof: Your bank statements for the last 3 months showing your salary or business income credits