How to Get Personal Loan at the age of 18 in India?

Topic: How to Get Personal Loan at the age of 18?


What is a personal loan?

A personal loan is a loan that does not require any collateral or guarantor and is availed with minimal documentation. You can take a Personal loan from Home Credit India to meet your needs today and use it for your needs, such as to get your house right for the wedding and repay another loan for a holiday. In Addition, You can use this loan to buy your favorite vehicle for many more expenses. Read More Articles.

What is Eligibility For a Personal Loan?

Here you do not have any eligibility criteria, and then you help apply for a personal loan with great ease. If you complete the pen, then you are eligible to apply for a home credit personal loan

1. First is your age: Must be between 18 and 69 years old.

2. And the source of your income: It should be salary earners or self-employed or pensioners.

3. And you must have: 1 ID proof and one address proof in the document.

4. And you should have a gap between at least two home credit loan applications: 90 days.

5. And you must have an active bank account.

What are the minimum and maximum loan amounts by Home Credit India?

The minimum loan amount for the existing home credit customer is fixed at ₹ 10,000, and the maximum loan amount is ₹ 2,40,000. And here, the minimum loan amount for Home Credit customers is ₹ 25,000, and the maximum loan amount is ₹ 2,00,000.

What is the term of the benefit of a personal loan?

Here the minimum tenure – 9 (months) and maximum tenure – 51 is fixed for the existing home credit customer. And here, the minimum tenure – 6 (months) and maximum tenure – 48 is set for Home Credit customers.

Important Documents for Personal Loan?

To apply for a loan, you have to provide at least 1 ID proof and one current address proof. So here is the list of acceptable documents for home credit customers. It contains all these documents –

ID proof, PAN card, Passport, Voter I card, Driving license, and Address proof: Voter I card, Driving license, Passport, Government housing allotment letter, Property tax receipt, etc. You must have. And if you have a list of documents acceptable for home credit customers here, all these documents are present in it – you must have documents like ID proof, address proof, voter I card, driving license, passport, etc.

Do You Have To Pay Any Additional Fees For a Personal Loan?

So for this, let me tell you that the processing fee (up to 3% of the loan amount) is imposed on the loan as defined by the pricing matrix by Home Credit India. You can get a top-up on the personal loan existing based on the Home Credit India repayment history and applicable credit policies.

Can I know The Status of My Loan Application?

Once your loan is approved that, you can check the status on the Home Credit Mobile App. And on the day your contract is signed, the loan amount usually gets in your bank account within five days of that.

But if you still have any problem then you can contact these people directly on this number 0124 – 662- 8888, or you can talk on their mobile app between 9:00 AM – 7:00 PM. . But if you have a big question that you need to explain in detail, then you can write to care@homecredit.co.in, and your answer will be returned to you within 48 hours.

What Are Value-Added Services Available With The Loan?

Home credit personal loan comes with an amazing value-added service called “Safe Pay,” which offers paid leave, early foreclosure, and life insurance benefits. The fee for this service will be included in your monthly installments.

For Now, Paid Leave Will Also Be Given Here.

You will benefit from this facility, and this facility will allow you to postpone the EMI by one month. Customers are eligible for a paid holiday after paying the first 2 EMIs on or before this due date. And you can avail of this benefit only twice during the loan period. And you will be required to pay at least 6 EMIs between the two services. And if you use this service every time, then the term of this loan will be extended by one month.

Free Initial Repayment

If you can manipulate the loan during this loan period without any extra charge, here you get this rebate which is much more beneficial for you. And yes, friends, before taking advantage of this service, you have to keep some things in mind that there should not be any outstanding amount on your loan.

And if you pay EMI through direct debit mode, it will be requested at least five days before the due date. And whoever pays EMI through other payment modes can extend the request anytime before the due date.

Within this, you will also get the facility of insurance

In this, you can get life insurance for 1.25 times the loan amount to cover the obligation of the loan in unexpected circumstances due to various causes of death, which will help you a lot. During the claim, the outstanding loan principal will be settled first, and the remaining amount will be given to the selected one.

How to Apply?

Those are existing home credit customers here can check their pre-qualified loan offers on their mobile app and apply for a loan within the app itself. Here sales representatives can also keep in touch with the eligible customers when loan offers are available for them.

And here, for new home credit customers, you can avail of a personal loan of up to 2 lakh on their mobile app. And to do this, you have to follow three steps –

• First of all, you have to download Home Credit India Mobile App from Google Play Store.

• Now, you have to click on the “Register and Apply” button.

• Now, you have to continue with simple next steps.

If you are applying for a personal loan, you should have net banking on the active bank account for new home credit customers. But if you face any problem, you can also chat on their mobile app between 9:00 AM to 7:00 PM for more information.

Friends, you can choose your loan amount and tenure based on the eligibility criteria defined by Home Credit India. However, it is to be said that the customer can select the loan amount and tenure.

Process of How to Get Personal Loan at the age of 18?

After clicking on the Button a page will open like this. You will see the creiteria of getting the personal loan in just 3 steps.

How to Get Personal Loan at the age of 18 in India

You can see in the bottom of the page where is mention that To Apply, Download the App. You just need to click on PlayStore Button and install the HomeCredit App and do the simple steps as we discuss in the above article.

How to Get Personal Loan for students

Personal Home Credit Loan in India 2021

Conclusion 

We have told you all about the How to Get Personal Loan at 18 in India here. We hope you will find the information related to How to Get a Home Credit Personal Loan in India beneficial. In this post, we have tried to answer all the questions you ask.

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If you still have questions about this Home Credit Personal Loan for 18-Year Olds Post, you can ask us through the comment. We will try our best to answer your question. Thank you.

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FAQ – How to Get Personal Loan at the age of 18?

Q1. How to get personal loan with low cibil score?

When You Have a Bad CIBIL Score · Prove that your income can support EMI payments · Ask for a lower personal loan amount · Click to Apply

Q2. How to get 2 lakh personal loan?

Here you do not have any eligibility criteria, and then you help apply for a personal loan with great ease. If you complete the pen, then you are eligible to apply for a home credit personal loan
1. First is your age: Must be between 18 and 69 years old.
2. And the source of your income: It should be salary earners or self-employed or pensioners.
3. And you must have: 1 ID proof and one address proof in the document.
4. And you should have a gap between at least two home credit loan applications: 90 days.
5. And you must have an active bank account.

Q3. How to get personal loan without documents?

While taking perosnal loan requires lesswe documents as compared to secured loans, the documentation process is already quite hassle-free. HomeCredit provides this loan against minimum documents, which include proof of identity, residential address proof, Net Banking and Must be above 19 years of age income.

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