Avail Instant Personal Loans ✓ Loan up to 10 Lakhs ✓ Quick Disbursal ✓ Minimum Documentation! Check Offer

An InCred Personal Loan is available at interest rates starting from 1.33% per month on Bajaj Markets. You can also choose from tenures ranging up to 60 months. The terms of the loan offered to you usually depend on your credit score, macroeconomic factors, and more. Also, the additional charges associated with the loan can lead to a rise in the aggregate loan cost. Thus, to save money, it is essential to check the interest rates and monitor the various factors which may impact these. 

Details of InCred Personal Loan Interest Rates

Here are the details of InCred Personal Loan interest rates:

Particulars

Details

Interest Rate

16% to 38% p.a.

Processing Fee

2%-5% on the sanctioned amount

*Disclaimer: The mentioned values are subject to change at the lender’s discretion.

Other Fees and Charges Associated with an InCred Personal Loan

Here are some additional charges related to the loan that you  should be aware of:

Particulars

Details

Prepayment and Foreclosure Charges

Up to 5% + applicable taxes

NACH/ PDC bounce/dishonour charges

Up to ₹500 per instance

Late EMI Payment Charges (LPP) 

Up to ₹30 each month for every ₹1,000 of overdue principal amount on prorata basis

Swap Charges ( Bank a/c change, EMI due date, Repayment mode change)

Up to ₹1,000 + applicable taxes

*Disclaimer: The mentioned values are subject to change at the lender’s discretion.

Factors Affecting InCred Personal Loan Interest Rates

Some common factors which may affect your personal loan interest rate are as follows:

  • Income

  • Credit Score

  • Job Stability 

  • Loan Tenure

  • Employment Type

  • Debt-to-Income (DTI) Ratio

  • Economic Conditions

  • Collateral

How To Calculate the EMI for an InCred Personal Loan?

Assume you have an InCred Personal Loan of ₹10,000. The interest rate for the loan is fixed at 16% p.a. while the tenure is set at 10 months. By using this simple information you can find out the EMI for your personal loan. For this, use the following formula:

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

Here,

  • P = The borrowed principal amount 

  • N = The repayment tenure

  • R = The interest rate

Substitute the values in the given formula and solve the equation. The answer, which is the instalment amount, will be ₹907.31. Solving equations can be tiring and a time-consuming task. Furthermore, the calculations are more prone to errors. Instead, consider using a personal loan EMI calculator available on Bajaj Markets.  Enter these details in the calculator and get instant results for free. This tool is easily accessible and simple to use, making it a great option to get accurate results.

Compare InCred Personal Loan Interest Rates with Other Partners

Our Partners
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Minimum Interest Rate
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Maximum Loan Amount
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Maximum Loan Tenure
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Bajaj Finance Limited

11% p.a.

₹35 Lakhs

96 months

4.7
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CASHe

27% p.a.

₹4 Lakhs

18 months

4.4
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Federal Bank

11% p.a.

₹5 Lakhs

48 months

4
Image

Fibe

14% p.a.

₹5 Lakhs

36 months

4
Image

Finnable

15.95% p.a.

₹10 Lakhs

60 months

4
Image

IIFL Finance

18% p.a.

₹5 Lakhs

42 months

4.1
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InCred

16% p.a.

₹10 Lakhs

60 months

4.3
Image

Kissht

14% p.a.

₹4 Lakhs

24 months

4.2
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Kotak Mahindra Bank

10.99% p.a.

₹40 Lakhs

72 months

4.2
Image

KreditBee

15% p.a.

₹5 Lakhs

24 months

4.1
Image

L&T Finance

12% p.a.

₹7 Lakhs

48 months

4.6
Image

moneyview

1.33% p.m.

₹10 Lakhs

60 months

4.2
Image

mPokket

24% p.a.

₹45,000

90 days

4.1
Image

Muthoot Finance

14.50% p.a.

₹15 Lakhs

60 months

4
Image

Olyv

18% p.a.

₹1 Lakh

12 months

4.1
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PaySense Partners

15% p.a.

₹5 Lakhs

60 months

4.3
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Privo

9.99% p.a.

₹5 Lakhs

60 months

4.5
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SMFG India Credit

12% p.a.

₹25 Lakhs

60 months

4.2
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Upwards

1.5% p.m.

₹5 Lakhs

36 months

4.3
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YES BANK

10.99% p.a.

₹50 Lakhs

72 months

4.2
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Zype

18% p.a.

₹3 Lakhs

12 months

4
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DISCLAIMER

The information and suggestions provided by BFDL hereinabove is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial advice or endorsement of any sort.

The information including interest rates or fees, loan amount and other charges with regard to any product, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks or NBFCs. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any application or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.

Read More

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.

Frequently Asked Questions

Who is eligible for a personal loan from InCred?

To be eligible for the loan you must fulfil the following criteria:

  • Salaried employee

  • Indian citizenship 

  • Age above 21 years

  • Monthly income of ₹15,000 to ₹50,000

 

Also, provide the following documents when applying for the loan:

  • PAN card 

  • Identity Proof: Aadhaar Card, PAN card, etc.

  • Address Proof: Ration Card, Utility Bills, etc.

  • Income Proof: Bank statement of the last 3 months 

What is the minimum salary required to apply for an InCred Personal Loan?

You should have a salary of at least ₹15,000 to get an InCred Personal Loan.

Does InCred offer personal loans at floating or fixed interest rates?

InCred offers fixed interest rates on its personal loans.

Can I change the repayment mode of my InCred Personal Loan?

Yes. You can change the mode of repayment for your InCred Personal Loan. However, this is subject to the lender’s policies and discretion. Ensure to get clarity on the matter from the lender when applying for the loan. Also, note that you may be required to pay a small charge for this facility. This can be up to ₹1,000, in addition to the applicable taxes.

Are there any charges applicable on the foreclosure of an InCred Personal Loan?

Yes. You are usually required to pay a foreclosure charge which can be up to 5%. Also, you must pay the applicable taxes as per the rules and regulations.

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