InCred Finance Personal Loan Repayment

Managing your EMI payments on time is essential for keeping your credit score healthy and avoiding unnecessary penalties. InCred Finance offers several quick and secure digital options to make your loan repayment simple, fast, and hassle-free. Each method is designed to suit your convenience, allowing you to choose the one that fits your lifestyle best.

Here is how you can pay your InCred Finance personal loan easily:

Pay through Virtual Account Transfer

Paying your EMI through a virtual account is one of the quickest and most secure ways to complete your InCred Finance loan repayment without any extra hassle:

1. Log in to your internet banking account and add InCred Financial Services Ltd. as a new beneficiary

2. Enter the beneficiary account number as 909090*******, where the last seven digits are the same as the last seven digits of your loan account number

3. For example, if your loan number is LXDEL26520-211021297, your beneficiary account number will be 9090901021297

4. Verify the details carefully before saving the beneficiary to ensure smooth and error-free payments

5. Once added, transfer your EMI amount directly to the InCred Collections Account using your bank’s transfer option

This method offers a simple, fast, and reliable way to make your InCred Finance loan payment online, ensuring your EMI is credited safely and on time.

Pay via UPI

Paying your EMI through UPI is one of the easiest and fastest ways to complete your InCred Finance loan repayment securely and without extra charges:

1. Open your preferred UPI app such as Google Pay, BHIM, or RuPay on your smartphone

2. Select the option to make a new payment within the app

3. Enter the UPI ID as 909090*****@cmsidfc**, replacing the last seven digits with your own loan account number

4. For example, if your loan number is LXDEL26520-211021297, your UPI ID will be 9090901021297.06@cmsidfc

5. Check that the recipient name appears as InCred Financial Services Ltd. before proceeding

6. Enter your EMI amount, review the details, and confirm the transaction

This simple process ensures your InCred Finance loan payment online is completed instantly, safely, and with real-time confirmation.

Pay Using Mobile Wallets (PhonePe, Google Pay, or Paytm)

Paying your EMI through mobile wallets is a quick and convenient way to complete your InCred Finance loan repayment directly from your smartphone without visiting a bank:

1. Open your preferred mobile wallet app such as PhonePe, Google Pay, or Paytm

2. Go to the Recharge and Pay Bills or Loan Repayment section within the app

3. Select InCred as the company or lender name from the available list

4. Enter your loan account number carefully to ensure accurate payment processing

5. Review the payment details and confirm the transaction to complete your EMI payment

This simple process lets you make your InCred Finance loan payment online anytime, offering ease, speed, and complete peace of mind.

Pay via Banking Apps

Paying your EMI through your bank’s mobile app is a fast and secure way to manage your InCred Finance loan repayment without visiting a branch or website:

1. Log in to your bank’s mobile or internet banking app using your registered credentials

2. Navigate to the Loan Repayment or Bill Payment section available in the app’s menu

3. Select your lender’s name and link your loan account to your banking profile

4. Enter your loan ID and review the payment details for accuracy

5. Confirm the transaction to complete your EMI payment instantly

This simple and convenient method ensures your InCred Finance loan payment online is processed safely, giving you flexibility and control over your monthly repayments.

Pay through the InCred Payment Gateway

Paying your EMI through the official payment gateway is a safe and convenient way to complete your InCred Finance loan repayment directly online without any extra steps:

1. Visit the official loan payment page on the lender’s website using a secure internet connection

2. Enter your loan account number and the exact EMI amount to ensure accurate payment processing

3. Choose your preferred payment method such as net banking, debit card, or UPI for added convenience

4. Verify the details carefully and authorise the transaction to complete your payment instantly

5. Download or save the payment receipt for your records once the transaction is confirmed

This quick and reliable method ensures your InCred Finance loan payment online is processed safely and reflected on time, helping you stay consistent with your monthly repayments.

Tip: Always make your payment before the due date to avoid penalties and ensure your credit score stays positive. InCred Finance’s flexible payment options make it easy to stay consistent with your EMIs and maintain financial discipline.

Understanding how to calculate your InCred Finance personal loan repayment helps you manage your finances better and avoid surprises during the loan tenure.” When you know your monthly EMI in advance, it becomes easier to manage your budget, track payments, and stay financially prepared. InCred Finance uses a standard EMI formula that allows you to estimate your repayment schedule accurately before applying for a loan.

The formula to calculate your EMI is:

EMI = P x R x (1 + R)N / [(1 + R)N – 1]

Where:

• P is the total loan amount you borrow

• R represents the monthly interest rate, which is derived by dividing the annual interest rate by 12 and then converting it to a decimal value

• N is the total number of months in your repayment tenure

Let’s look at an example to understand this clearly:

Suppose you take a personal loan of ₹10,00,000 from InCred Finance at an interest rate of 13.99% per annum for a tenure of 60 months.

• Loan amount (P) = ₹10,00,000

• Annual interest rate = 13.99%

• Monthly interest rate (R) = 13.99 / 12 / 100 = 0.01166

• Tenure (N) = 60 months

Now, applying these values in the formula:

• EMI = 10,00,000 x 0.01166 x (1 + 0.01166)60 / [(1 + 0.01166)60 – 1]

• EMI = 10,00,000 x 0.01166 x (1.01166)60 / [(1.01166)60 – 1]

• EMI = 10,00,000 x 0.01166 x 1.938 / (1.938 – 1)

• EMI = 10,00,000 x 0.02261 / 0.938

• EMI = ₹24,102.34 (approximately)

So, your monthly EMI would be around ₹24,102, and your total repayment over 60 months would be approximately ₹14,46,120, which includes ₹4,46,120 as the total interest payable.

Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.