InCred Finance review: InCred is an RBI-licensed financial services company that offers personal, educational, business, and merchant loans, focusing on supporting individuals and SMEs in India.
For a quick and flexible personal financing solution, InCred Finance offers a ₹10 lakh personal loan at an attractive interest rate of 13.99%, which is a viable option.
Are you considering taking a personal loan to meet your unexpected expenses? Read this InCred loan review, its features, benefits, interest rate, eligibility, and application process, and choose if it is right for your needs.
Table of Contents
InCred Personal Loan Details
| InCred Feature | Loan Details |
|---|---|
| Interest Rate | Starts from 16% – Up to 36% |
| Loan Amount | ₹50,000 – Up to ₹10,00,000 |
| Tenure | 12 – 60 months |
| Part Payment Charges | NA |
| Processing Fee | 2-5% |
| Minimum Credit Score | Have a Good Score |
| Foreclosure Charges | 2.5% |
InCred Finance offers personal loans anywhere from ₹50,000 to ₹10,00,000 with a starting interest rate of 13.99% depending on various factors such as creditworthiness and loan terms. Repayment tenure of the InCred loan ranges from 12 to 60 months.
The processing fee for the InCred personal loan is between 2% and 5% of the loan amount.
Notably, there are no charges for part payments, and foreclosure charges are set at 2.5% for InCred personal loans.
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Incred personal loan features and benefits
Here’s a list of the features and benefits of Incred Finance personal loan:
- No collateral required
- 100% digital journey
- Instant disbursal
- No physical documentation required
- Choose the loan amount of your choice
- Optional insurance coverage
- Low interest rates
- Flexible tenure options
Incred personal loan Eligibility Criteria
- Your age should be between 21 and 55 years.
- Your minimum monthly income should be Rs 15,000.
- Your credit score should be at least 650.
Documents for Incred Finance personal loan
- Aadhar card
- PAN card.
- 3 latest salary slips along with Form 16.
- Last 3 months’ bank statements
- Net banking or debit card details to set up an e-mandate.
- Valid KYC documents.
InCred Finance Review: Expert Review
InCred Finance Personal Loan is a great option for quick and easy loans. With competitive interest rates, flexible repayment plans, and transparent terms with no hidden charges, InCred Personal Loan is designed to meet various needs such as personal expenses, vacation, medical expenses, debt consolidation, etc.
The application process is straightforward and 100% digital, leading to faster approvals and instant disbursement. Also, InCred Finance is open to borrowers with varying credit histories, making it accessible to more people. Overall, InCred Personal Loan offers a hassle-free way to achieve your financial goals.
Is Incred Finance RBI approved?
InCred Finance is a registered Non-Banking Financial Company (NBFC) approved by the Reserve Bank of India (RBI). The company has a valid Certificate of Registration dated September 28, 2022, issued by the Reserve Bank of India under Section 45 IA of the Reserve Bank of India Act, 1934.
InCred personal loan safe or not
InCred Finance is a safe and secure digital lending platform approved by the Reserve Bank of India as an NBFC. InCred personal loan comes with various benefits, including;
- Instant access to Loan from ₹10K to ₹10 Lakhs
- 100% online application – Quick & Hassle Free
- Low annual interest rates, starting from just 13.99%
- Flexible EMI options up to a tenure of 5 years
- Borrow with confidence! InCred Finance is an RBI-registered NBFC.
How to apply Incred personal loan
InCred personal loan application is straightforward, just follow these simple steps;
- Visit the InCred Website or download the App.
- Enter your mobile number and verify using OTP.
- Fill in your basic details, including DOB, address, gender, and PAN No.
- Get a loan offer or maximum loan amount eligibility.
- Upload necessary KYC documents for verification.
- Review all information and submit.
- Wait for approval, and get disbursed in your bank account.
In short – Incred personal loan!
In conclusion, InCred Finance is a reliable and trustworthy financial platform that offers streamlined and accessible financial solutions to meet various needs. Since it is licensed as an NBFC by the RBI, Incred is completely safe.
With its 100% digital application process, competitive interest rates, transparent terms, flexible repayment options, minimal documentation, and quick disbursement, InCred personal loan is preferred by most people.
FAQs
Is InCred Finance RBI approved?
Yes, InCred Finance is approved by the RBI (Reserve Bank of India) under Section 45 IA of the Reserve Bank of India Act, 1934.
What is the minimum salary for InCred Personal Loan?
For InCred personal loan, the minimum salary requirement is ₹15,000 per month.
What is the CIBIL score required for InCred Personal Loan?
For an InCred personal loan, a CIBIL score of 650 or higher is typically required.
What is the processing fee for the InCred Personal Loan?
The processing fee for an InCred personal loan ranges from 2% to 5% of the loan amount.
What is the age limit for InCred loan?
The age limit for an InCred personal loan typically ranges from 21 to 58 years.
Is InCred a NBFC?
Yes, Incred Financial Services Limited is a Non-Banking Financial Company (NBFC) having a valid Certificate of Registration dated September 28, 2022, issued by RBI under Section 45 IA of the Reserve Bank of India Act, 1934.
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