InCred Personal Loan is a digital personal loan. This customized financial product is made to quickly satisfy the various requirements of borrowers who want easy access to money. InCred is dedicated to simplifying the loan application process and provides personal loans for various uses, such as schooling, home improvement, emergency medical needs, and wedding costs.
To ensure a seamless and effective borrowing experience, the platform stands out for its reasonable interest rates, flexible repayment alternatives, and low paperwork needs. InCred uses cutting-edge technology to expedite the approval process, frequently resulting in a quick distribution of funds.
Its tailored approach to customer service also helps answer specific questions and issues, making it a dependable choice for people needing financial support. To ensure the loan satisfies their unique needs, prospective borrowers should carefully review the terms and circumstances, including fees, as with any financial commitment.
Prime Features & Benefits of InCred Personal Loan
If you are looking for an instant personal loan, the InCred personal loan is undoubtedly the best. With great features and an easy application process, this loan can be secured by salaried personnel who are indian residents very swiftly. The prime features of the loan are as follows:
1] Competitive Interest Rates
InCred gives good interest rates on personal loans to make them affordable for borrowers. Being a digital personal loan, you can get this at a low-interest rate starting from 1.33% PM, making it easy to manage finances.
2] Flexible Loan Amounts
When applying for this personal loan, you get the opportunity to get a flexible amount based on your need. Starting from as low as INR 50000, you can get the loan. The amount will be based on your profile and credit score.
3] Customized Repayment Tenure
InCred is one of the best online personal loans that offers varied repayment periods. You can select the repayment period based on your financial budget, allowing you to have better management. This loan is one of the best options for salaried.
4] Quick Disbursement
Upon approval, InCred aims to disburse funds quickly, ensuring borrowers have timely access to the required funds. Since the entire application process is online, getting the loan application approved and the amount disbursed will only take a few minutes to a day.
5] Transparent Fee Structure
InCred maintains transparency in its fee structure, including any processing fees or other charges associated with the personal loan. All the charges you must pay when you apply for this fast personal loan will be disclosed first.
6] Online Account Management
Borrowers can use online portals or mobile apps to handle their loan accounts’ check statements and easily make payments. In today’s busy schedule, having online management is truly a blessing.
7] Customer Support
InCred is there to help with any questions or concerns you might have during the loan application or throughout the loan period. They have a separate questions section for any query or question, which can help you seamlessly.
InCred personal loan is one of the best personal loans based on its features and low eligibility requirements.
Grievance Redressal Mechanism
1. How to log a complaint/where can a complaint be made
Any customer having a grievance/complaint/feedback with respect to the product and services offered by InCred Financial Services Limited (hereinafter referred to as ‘the Company’) may write to the Company’s Customer Service Department through any of the following channels:
Call at 18001022192
Email- care@incred.com
You may write a letter at the address- Unit No. 1203, 12th floor, B Wing, The Capital, Plot No. C – 70, G Block, Bandra – Kurla Complex, Mumbai-40005,1 Maharashtra
Website – www.incred.com
2. Whom to approach for redressal
Customers are requested to first raise their concerns through 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 are as follows:
Grievance Redressal Officer Name: Mr. Vaidyanathan Ramamoorthy
E-mail ID: incred.grievance@incred.com
E-Telephone no.: 022-42117799
Address: Incred Financial Services Limited, 1203, 12th Floor, B Wing, The Capital, Bandra Kurla Complex, Mumbai – 400 051
https://www.incred.com/grievance.html
3. Details of InCred Personal Loan:
Details of InCred Personal loans can be found at https://personal-loans.incred.com/personal-loan
RBI Sachet Portal: sachet.rbi.org.in
Online Application Process for InCred Personal Loan
As already shared, this is a digital personal loan, so the application process will only be completed online. The primary steps that you would need to follow are as follows:
Step 1: Visit the InCred Website or App
To start the application process, go to the website. You can also use the mobile application as well. Ensure to read the terms properly before moving ahead.
Step 2: Complete Verification
Once you have read everything, select the personal loan option. Start by verifying your contact details. Enter your mobile number, and you will receive an OTP. Verify the number, and then you can proceed to the next step.
Step 3: Enter Your Basic Info
Once you are done with verification, you must complete the basic details. It will include name, address, contact information, and more.
Step 4: Check Eligibility
Enter your details here. Now you would be able to check your eligibility. The maximum loan amount you can get will be displayed based on this.
Step 5: Share KYC Records
Once the eligibility and loan amount are confirmed, you must add some documents. It will be your basic KYC for verification purposes.
Step 6: Review and Wait for Approval
Review all the information provided to ensure accuracy before submitting. Make any necessary corrections. Now click on submit to complete the process. The loan will be disbursed upon approval.
The overall loan application process followed by InCred is simple. You can do this from your home as well.
Eligibility of InCred Personal Loan in Details
InCred personal loan is one of the best personal loans in terms of eligibility. It is quite simple and easy to fulfill. Here are the conditions.
Applicant’s age should be between 21 and 55.
The minimum monthly income needed is INR 15000.
You would need a credit score of at least 650.
You must present proper KYC, such as your PAN and Aadhaar card.
Pay slips and bank statements are required financial documents.
Additional KYC documents or income proofs might be needed.
InCred Personal Loan Fees & Charges
Understanding the costs and fees involved is important. Being a digital Incred personal loan, the charges might vary compared to the others. The primary charges that you should be aware of are as follows:
Processing Fee
This fee is charged upfront and is a certain percentage of the total loan amount. It is a non-refundable cost. These charges are applied when the process starts and are used to cover administrative tasks.
Prepayment or Foreclosure Charges
These fees are levied if you decide to repay your loan before the end of its tenure. Such charges are imposed to cover the potential interest income loss for the lender. Always check the terms for any prepayment penalties.
Late Payment Fees
This is a charge that is applied when you pay a late installment. It can be considered as the penalty for the delay. It encourages borrowers to make timely payments. It also ensures the lender pays for the missed installments.
Cheque Bounce Charges
This is applied when a cheque issued for loan repayment is returned. It is mainly when a return is due to insufficient funds in the payer’s account. This fee covers the charges linked to with the failed transaction.
Loan Cancellation Charges
There are times when the applicant cancels the loan after approval. This is where this fee is applied. This charge is intended to cover the expenses incurred up to that time in processing your loan application.
Cover Your Loan with Insurance
Getting insurance for your loan is a smart financial choice. It gives protection and peace of mind. Loan insurance, credit, or loan protection insurance can come in different types. Here are key aspects to consider:
Life Insurance
It is usually a loan-tied life insurance plan. In the event of the borrower’s passing, it guarantees that the outstanding loan is paid off. It offers the confidence that their obligations are paid off and financial comfort to the borrower’s family.
Disability Insurance
Disability insurance protects borrowers against the financial consequences of becoming disabled and unable to work. It ensures that loan payments are made. It thus maintains the borrower’s credit score and prevents financial strain.
Critical Illness Insurance
When a borrower is diagnosed with a severe illness that falls under the policy’s coverage, this insurance offers financial support by covering loan payments. It helps alleviate financial stress during a challenging time, allowing the borrower to focus on recovery.
Unemployment Insurance
In sudden job loss cases, unemployment insurance assists with loan repayments, providing a financial safety net until the borrower secures new employment, helping maintain financial stability.
EMI Protection Insurance
EMI (Equated Monthly Installment) Protection Insurance is essential for safeguarding against unforeseen events that could impact the borrower’s ability to make loan payments, such as illness, disability, or job loss. It ensures that repayments are covered, protecting the borrower’s family from the burden of debt during difficult times.
Save Money With a Personal Loan Balance Transfer
With the help of InCred’s Balance Transfer service, customers can move their current loans from other lenders to the company at a reduced interest rate. This function aims to provide:
Better terms for repayment
Lower the total interest load
Combine several loans into one manageable loan.
Borrowers have a great chance to maximize their loan payback plan and realize financial savings.
