If you are looking for an easy and flexible personal loan, Home Credit Personal Loan can serve your purpose. Home Credit is a company widely known in India for providing personal loans to salaried and self-employed individuals, including first-time borrowers who do not qualify under stringent bank norms.
Through its Home Credit loan app, users can apply online for loans from as low as ₹1,000 to a maximum amount of ₹4,80,000, depending on their eligibility and risk profile. The biggest benefit of a Home Credit Personal Loan is the easy application process and minimal documentation requirements.
Most users complain about low income, no salary slips, or a low CIBIL score. However, Home Credit also assesses its applicants on various parameters beyond credit score alone. The assessment parameter makes it widely popular among people who urgently need funds for medical expenses, education, mobiles, household needs, or small business support.
What is a Home Credit Personal Loan?
Home Credit Personal Loan is an unsecured loan provided by Home Credit India. Since it is an unsecured loan, you do not need to provide any collateral, such as gold, property, or fixed deposits. The entire loan process can be completed online using the Home Credit loan app, making it convenient for users across India.
Key Features of Home Credit Personal Loan
Loan Amount: ₹1,000 to ₹4,80,000
Minimum APR: 19.5%
Maximum APR: Up to 36%
Tenure: 9 months to 60 months
Approval Time: Same day in most cases
Repayment Mode: Monthly EMI
Optional Value-Added Services available
Documents Required for Home Credit Loan App
To apply for Home Credit Personal Loan, you need minimal documents compared to banks.
Required Documents
PAN Card (mandatory)
Address Proof (Aadhaar Card accepted)
Bank Account details
Basic personal information
Is a Salary Slip Required?
Salary slip is NOT mandatory in all cases
Many users can get a loan using only an Aadhaar Card and a PAN Card
For higher loan amounts, income proof may be requested
This makes Home Credit Personal Loan suitable for low-income and self-employed applicants.
Eligibility Criteria for Home Credit Personal Loan
Age Limit
Minimum Age: 18 years
Maximum Age: 60 years
Employment Type
Salaried employees
Self-employed individuals
Small business owners
Monthly Income
Minimum income usually starts from ₹10,000, but it may vary
CIBIL Score Requirement – Is a Loan Possible Without a CIBIL?
Ideal CIBIL Score: 650+
Average CIBIL Score: 550–650 (loan possible with higher interest)
No CIBIL / First-Time Borrowers: Yes, the loan may still be approved
Home Credit evaluates your risk profile, repayment capacity, and past behavior, not just CIBIL score.
Home Credit Personal Loan Interest Rate Details
As per the provided information:
Minimum APR: 19.5%
Example Interest Rate: 32%
Maximum APR: Up to 36%
Interest rates depend on:
Credit profile
Loan amount
Repayment history
Risk category
Representative Loan Example
Loan Amount: ₹70,000
Tenure: 24 months
Interest Rate: 32%
EMI: ₹3,986 per month
Processing Fees: ₹2,730
Total Amount Payable: ₹95,672
| Also Read: Best loan app without PAN card – explore easy loan options, eligibility rules, required documents, and quick approval process explained clearly. |
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₹5,000 Loan EMI & Disbursal Table
| Details | Amount |
|---|---|
| Loan Amount | ₹5,000 |
| Tenure | 9 months |
| Interest Rate (Approx.) | 30% |
| EMI | ₹650 – ₹700 |
| Processing Fee | ₹200 – ₹300 |
| Amount Credited to Bank | ₹4,700 – ₹4,800 |
| Total Repayment | ₹5,800 – ₹6,300 |
| Also Read: Get a 15k loan on low CIBIL score with easy and fast approval, minimal documents, simple eligibility, quick processing, and instant disbursal in India. |
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₹30,000 Loan EMI & Disbursal Table
| Details | Amount |
|---|---|
| Loan Amount | ₹30,000 |
| Tenure | 24 months |
| Interest Rate (Approx.) | 30–32% |
| EMI | ₹1,650 – ₹1,750 |
| Processing Fee | ₹1,000 – ₹1,500 |
| Amount Credited to Bank | ₹28,500 – ₹29,000 |
| Total Repayment | ₹39,000 – ₹42,000 |
| Also Read: Urgent loan for low CIBIL score – check eligibility, required documents, interest rates, and fast approval options explained in simple terms. |
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Importance of Repayment in Home Credit Personal Loan
Repayment is very important if you want future loans at lower interest rates.
Timely EMI improves CIBIL score
Late payment attracts penalties
Missed EMIs can lead to recovery calls
Good repayment history increases the loan limit
Always pay EMI on or before the due date.
How to Apply for a Home Credit Personal Loan?
Register using your mobile number
Upload Aadhaar & PAN
Choose loan amount & tenure
Complete verification
Get a loan from the bank
FAQs – Home Credit Personal Loan
Q1. Can I get a Home Credit Personal Loan with a low CIBIL score?
Yes, approval is possible with higher interest rates.
Q2. Is Home Credit Personal Loan safe?
Yes, Home Credit India is an RBI-registered NBFC.
Q3. Can I get a loan using only Aadhaar and PAN?
Yes, in many cases, only the Aadhaar Card and the PAN Card are sufficient.
Q4. How fast is loan disbursal?
Mostly same day or within 24 hours after approval.
Final Thoughts
Home Credit Personal Loan is a good option for people who need quick funds, have limited documents, or a low CIBIL score. However, interest rates are higher than those of banks, so borrow responsibly and repay on time.
Disclaimer
This article is for informational purposes only. Loan approval, interest rates, fees, and eligibility may vary based on the applicant’s profile and Home Credit India policies. Always check the official app or website before applying.
