Home Loan

Home credit loan application: Everything you should know before applying


Loans from Home Credit provide quick, simple, and secure access to money. A credit provides the customer with money that can be used as needed, whether that be using the entire amount borrowed, a portion of it, or nil. A loan, on the other hand, delivers all the money asked at the time it is granted.

Credit allows you to access the amount of money provided based on your needs at any given time, making it a more flexible sort of financing. The maximum amount of money that the customer may use in whole or in part is determined by the credit. The consumer has the option of using all of the provided funds, some of them, or none of them.

What is a Home Credit Loan?

Home Credit personal loan features minimal documentation and quick disbursal.

They make funds accessible in an easy and faster way. They provide a helping hand when one needs money to meet certain financial requirements. 

The loan can be availed at affordable interest rates. The interest is charged based on repayment, ranging from 19% to 49%, along with a processing fee of 0-5%. The repayment duration is 3 years

Eligibility Criteria

The following documents are required for the application for Home Credit Loan:

  • PAN Card

The applicant must submit it as proof of identity.

  • Indian citizenship

The applicant must submit proof of residence, such as the Aadhaar card

  • Banking facilities

The applicant must have an active bank account with net banking facilities.

  • Age

The minimum age of the applicant should be 19 years and above. Customers below this age are not eligible to apply for a home credit loan.

  • Income

The applicant should have a minimum income of INR 10,000/- to be eligible to apply for a home credit loan.

Features of home credit loan:

  • Customers can avail of a loan up to Rs. 5 lakhs

 The borrowers can withdraw an amount up to Rs. 5 lakhs easily by applying for the loan. It is hassle-free and one of the easiest methods available to customers.

  • No collateral or guarantor required

 It is not necessary for the applicant to provide a collateral or guarantor as security, to be able to withdraw a home credit loan.

  • Quick Approval

 The loan gets approved instantaneously, which is the fastest method.

  • Minimal documentation

 There are paperless transactions with minimal documentation as the applicant does not have to submit any hard copy of the documents for the verification process. Only digital/ soft copies are required to be submitted.

  • Disbursal within hours.

  The applicant is provided with instant cash to adhere to his urgent financial requirement. There is no time delay.

  • Multiple Repayment options

 There are multiple repayment options provided to borrowers at their convenience. They can choose a mode that is the most suitable for them.

  • There is a flexible repayment schedule for the home credit loan.

The applicant can choose a suitable repayment schedule according to their convenience.

  • Open availability

The loan is available to all types of applicants. The borrower need not be an existing customer of the company.

  • Tax Advantages

Tax advantages are yet another significant perk you can take advantage of when applying for a house loan. You may deduct up to INR 1.5 lakhs from the principal amount, registration fees, and stamp duty costs of a housing loan under Section 80C of the Income Tax Act of 1961.

Each borrower in a shared house loan may receive up to INR 1.5 lakhs per year (if they are also co-owners of the property).

Principal distinctions between a credit and a loan:

Typically, a credit card has a greater interest rate than a loan does.

The undrawn balance may be subject to a minimum fee even though interest is only paid on the amount that has been spent.

As money is returned, more money becomes available as long as the cap is not reached.

When a borrower is approved for a line of credit, a bank or other financial institution gives them a predetermined credit limit that they can use in full or in part repeatedly. This changes it to a revolving credit limit, a considerably more flexible kind of borrowing.

Unlike loans, they can be used for any purpose.

How to Submit an Application for a Home Credit loan?

Follow the given steps to apply for the same:

Step 1: Visit the website

Step 2: Type in your name and phone number and press the “Apply Now” button.

Step 3: The loan application window will open in a new tab.

Step 4: After that, select the “Want to Apply” button that is there on the page.

The next step will open a brief form that asks for your name, email address, and mobile number.

Step 6: Complete the pertinent information and click on “Continue”

Step 7: After receiving this request form from Home Credit, a member of the team will contact you with a customized estimate.

Step 8: After that, you can choose the best strategy and complete your loan application.

Step 9: Immediately after your loan is approved, the money will be deposited into your bank account.


Home credit loans are the easiest and most efficient ways to withdraw loans for reasonable amounts. The loan is accessible to existing as well as new customers.

The applicants have to go through a very simple and easy application process. The mode of repayment is also very customer friendly.

Piramal Finance will give you excellent guidance while applying for a home credit loan. You can visit our website for further details and queries. It’ll be our sincere pleasure to be at your service.