InCred is a new-age financial services platform that leverages technology and data- science to make lending quick and easy. InCred is credit for Incredible India. They believe that the traditional ways can nowadays be excluded due to them being outdated, rigid, and often inefficient processes. Also, the lending process has now become simplified having a sharp aim on serving borrower’s needs.
InCred is an NBFC (Non-Banking Financial Company) that offers financial assistance to make the life of applicants convenient and comfortable. They use specialized tools to analyze market situations and offer customized personal loans.
| InCred Personal Loan – A Snapshot | |
| Interest rates | 16% to 36% p.a. onwards |
| Loan amount | Up to INR 3 lakh |
| Loan tenure | Up to 5 years |
| Preclosure Charges | Applicable as per the loan agreement |
Below mentioned are the eligibility criteria to apply for InCred Personal Loan:
Below mentioned are the eligibility criteria to apply for InCred Personal Loan:
1. In the case of an Individual:
2. In the case of the Company:
3. In the case of a Partnership Firm:
Interest Rates & Charges
Below mentioned are the interest rates and charges associated with InCred Personal Loan:
| Loan Product | Interest rates (p.a.) |
| Preclosure Charges | ● Applicable as per the loan agreement ● Loan applicants can prepay their personal loans anytime within the loan tenure after paying their 6th EMI. No part-prepayment permitted. |
| Interest Rate | ● 1.5% to 3% per month |
| Associated Charges | ● Processing fee: 2%-4% of the withdrawal amount |
| Repayment Tenure | ● 3 to 36 months |
Below mentioned are the ways to get Instant Loan without CIBIL:
Below mentioned are the benefits to apply for InCred Personal Loan:
Below mentioned are the steps to apply for InCred Personal Loan:
Step 1: Provide personal and professional details online.
Step 2: From the list of loan offers, select the lending partner i.e. InCred.
Step 3: Select the loan amount and repayment tenure as required.
Step 4: The approval would be received in 2 minutes and the money will then be credited into the bank account within 4 hours.
Below mentioned are the features of InCred Personal Loan:
Below mentioned are the factors that affect InCred Personal Loan Interest Rates:
An applicant must have a credit score of 750 or above to qualify for a personal loan. Also, in case of a high credit score, the lender will then offer a lower rate of interest.
Candidates aged 21 and up are more likely to be approved for a loan than those approaching retirement age. However, age alone does not determine eligibility for a personal loan. Lenders may be hesitant to provide loans to people about to retire since it may jeopardize their loan payback. Furthermore, in case an applicant is above 30, he/ she may have to pay higher interest rates to acquire a loan.
Salaried people may get a better bargain on interest rates than self-employed people. Hence, in the case of self-employed, avoid engaging funds in high-risk ventures.
The reputation of the organization working for may be advantageous. If the borrower works for a reputable institution, they may be eligible for a lower interest rate on the personal loan.
In case of a lower debt-to-income ratio, an applicant will get the loan quickly.
| Banks/NBFCs | Interest Rates(p.a.) |
| Axis Bank | 10.49% onwards |
| IndusInd Bank | 10.49% onwards |
| IDFC Bank | 10.49% onwards |
| HDFC Bank | 10.50% onwards |
| ICICI Bank | 10.50% onwards |
| Kotak Mahindra Bank | 10.99% onwards |
| Tata Capital | 10.99% onwards |
| Bajaj Finserv | 11.00% onwards |
| Federal Bank | 11.49% – 14.49% |
| DMI Finance | 12% – 36% |
| L&T Finance | 12% – 36% |
| MoneyTap | 12.96% onwards |
| Piramal Finance | 12.99% onwards |
| Aditya Birla | 13% onwards |
| MoneyView | 15.96% onwards |
| Cashe | 27.00% onwards |
| Kreditbee | Up to 29.95% |
InCred Customer Care
To get the queries related to InCred Personal Loan resolved, contact the support team using any of the ways mentioned below:
Helpline Number: 1800-102-2192
Email: care@InCred.com
Also, a letter may be written at:
Unit No. 1203, 12th floor, B Wing, The Capital, Plot No. C – 70, G Block, Bandra – Kurla Complex Mumbai-400051 Maharashtra
Website- www.incred.com
In the case of Redressal:
Firstly raise concerns via any of the channels mentioned above. And if the same is not resolved within 5 days or if the customer is not satisfied with the solution provided by the customer care service, then the customer may follow the below escalations for resolving their grievances.
Name: Ms. Rosy Dsouza
Contact: 022-42117799
Email Id: care@incred.com
In case the complaint is not resolved within a period of five days or if the customer is not satisfied with the solution provided by Mr. Kiran Gawand then the customer may approach the Grievance Redressal Officer. The name and contact details of the Grievance Redressal Officer is as follows:
Grievance Redressal Officer Name: Mr. Vaidyanathan Ramamoorthy
E-mail ID: incred.grievance@incred.com
ETelephone no.: 022-42117799
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