Q: What is Personal loan?
A: A Personal loan in Home Credit is the money you can borrow from Home Credit India for a defined period of time in order to meet your needs.
It is an online application process to avail instant cash anytime, anywhere with minimal documentation and user friendly steps. Our process includes an online approval along with a visit to our nearest point of sales for document verification.
Note: The offline document verification is not needed in case you are uploading valid Aadhaar XML during the online journey and sharing with us the Share code. This is a super-fast process where you can get disbursement without going anywhere.
Q: What if I don’t have a Home Credit Point of Sales nearby?
A: In case of no Point of Sales nearby, our customer care executive will call you to assist you with the nearest Point of Sales with the complete address details.
Q: What is the minimum and maximum loan amount offered?
A: The loan amount starts from minimum ₹ 25,000 to a maximum amount of ₹ 500,000, all in the incremental slabs of ₹ 5000.
Q: What are the Pre-requisites of Personal Loan?
A: To apply for Personal Loan, customer
- should be an Indian citizen with minimum 19 years of age;
- should have a valid e-mail address and a mobile number;
- should have a functional webcam with Internet connection;
- should have a valid residential address proof and a PAN card; and
- Personal Bank account with an access to Net Banking.
Q: Which documents are accepted as a valid address proof?
A: The list of documents is given below.
- Aadhaar Card
- Voter ID (Expiry should not be within three months of application)
- Passport (Expiry should not be within three months of application)
- Driving license (Expiry should not be within three months of application)
- Aadhaar XML with valid share code (Should be generated recently)
Q. What are the steps to download Aadhaar XML?
A: Please follow the below steps:
- Step 1: Go to URL (https://resident.uidai.gov.in/offline-kyc).
- Step 2: Enter your 'Aadhaar Number' or 'VID' and displayed 'Security Code' on screen (Captcha), then click on 'Send OTP'.
- Step 3: Enter OTP received on your registered Mobile Number for the given Aadhaar Number.
- Step 4: Alongside, Choose & Enter a Share Code (up to 4 characters long) which will also be password for the ZIP file.
- Step 5: Click on 'Download' button.
- Step 6: The Zip file containing the digitally signed XML can now be downloaded.
Once your Aadhaar XML file is downloaded, upload the same on the address page of the application and enter the Share Code.
Q: If I do not have any of the documents from the proposed list of documents on the application?
A: As per company policy, possessing at least one of the mentioned documents is mandatory to apply for our personal loan.
Q: Can an existing customer re-apply for a personal Loan?
A: Yes, one can re-apply for a personal loan, however, it is subject to conditions depending on the applicant’s credit history.
Q: What is the interest rate for the loan offered?
A: The interest rates offered are based on various factors such as loan amount, tenure, credit score, etc. and may vary for different customers.
Q: What is the time taken for sanction and disbursal of loan amount?
A: Provisional approval of the Loan Application takes just a few minutes as the process is online. It is our endeavour to disburse the loan amount within one working day after the document verification is done at our point of sales and signing is done on the Mobile application. Users who gets to exercise the option to upload Aadhaar XML need not do the document verification again at our point of sales.
Q: How to apply for Personal Loan? Or what is the process of Personal Loan?
A: Follow these simple steps to apply for a personal loan.
- 1. Register with us on our webpage www.homecredit.co.in/online-loan/#/home/main Or Download our mobile application from Google play store.
- 2. Complete the application by filling in your personal details.
- 3. After you get the approval, visit the nearest Home Credit point of sales for document verification
- 4. Sign your application on our Mobile app and your process is complete.
- Note: Visiting Home Credit Point of sales is not needed in case you gave uploaded Aadhaar XML during the application.
Q: In what format can PAN and Residential proof documents be uploaded?
A: The documents can be uploaded in BMP, GIF, JPEG, PCX, TIF, TIFF, JPE, JFIF and PNG. The size of the file should not be more than 2 MB. If there are two pages to be uploaded, the size of each document must be less than 1 MB.
Q: What is the mode of Loan Repayment?
A: Mode of Loan Repayment-
- PAY ON HOME CREDIT WEBSITE
- Visit www.homecredit.co.in and click on 'PAY EMI' button.
- Fill the required loan details and enter monthly instalment.
- Choose a debit card or net banking option to make your payment.
- Enter transaction password or OTP sent to your registered mobile number, to complete the transaction
- Save the receipt for future use. Kindly check your E-mail and SMS for payment confirmation.
- PAY ON HOME CREDIT MOBILE APP
- For Android users, you can opt for loan repayment through Home Credit India Mobile app. Click on the link to download our app https://bit.ly/2GOaDjx
- Pay cash at authorised branches of Axis Bank and ICICI Bank.
- Visit authorized branch
- Fill loan details on deposit slip
- Deposit cash
- Get receipt
- Pay via PayTM App and PayU.
Q: Can the Loan Amount and Tenure be selected manually?
A: Yes, the loan amount and tenure can be selected manually. However, the maximum loan amount and tenure offered are subject to conditions. The amount and tenure once selected cannot be changed once your application is processed.
Q: What if the OTP is not received on the Mobile as well as Email?
A: It is advisable to wait for 1 minutes, if you still don't receive it, then click on re-send button. If the issue still persists, contact us at onlineloan@homecredit.co.in
Q: What needs to be done if someone leaves the loan application mid-way but wants to complete the same after a few days?
A: You can complete your Loan Application within 30 days from your registration.
Q: Will the Loan Amount be disbursed 7 days a week?
A: The Loan Amount will be disbursed on all working days, except in case of some technical issues.
Q: Can I re-pay my loan early?
A: Yes. The process of early re-payment is applicable after 6 months. In case, you have availed Safe Pay and the same is active at the time of foreclosure request then you can foreclose it anytime without paying any additional charges, as per the conditions communicated to you for Safe Pay.
Q: My Loan application got approved but did not receive loan documents. What should I do?
A: Loan documents can be downloaded from “My loans section” of Home Credit India mobile app. Please ensure to use the same phone number which is registered at Home Credit mobile app.
In case of queries, please send us an email at onlineloan@homecredit.co.in and we will revert within 3 days.
Alternatively, you can call us at 0124-6628811 from 9 am to 6.00 pm- Monday to Sunday, except public holidays.