Why adjust your dreams, when your loan can be flexible?

To apply for a Home Credit Flexible Personal Loan, you should:

• Be an Indian citizen between 18 and 60 years of age.
• have documented proof of an active source of income.
• have valid KYC documents (a PAN card and one address proof).
• have an active bank account

With Home Credit Flexible Personal Loan, you can get a flexible credit limit ranging from ₹10,000 to ₹1,00,000

You can apply for a Flexible Personal Loan very easily through our Home Credit: Loans, EMI, Deals app. The process is fully online and can be done from the comfort of your home. Just follow the following steps:

• Download the Home Credit: Loans, EMI, Deals app from the Google Play Store.
• If you are an existing customer, then sign up on the app using the mobile number registered with Home Credit. If you are new to Home Credit, then sign up with the mobile number that is linked to your Aadhaar card and bank account for faster approval.
• Go to the "Loans" section, and there you will find Flexible Personal Loans along with other loan products that Home Credit has to offer.
• Select Flexible Personal Loans and start your online loan application.
• Keep your PAN card and address proof ready, and just follow the simple steps as they appear on the screen.
• After you get approval, you will have to complete the loan signing process and set up auto-debit to activate your flexible credit limit.

You can withdraw an amount starting from ₹5000 from your flexible credit limit. The maximum amount you can withdraw cannot exceed your available flexible credit limit.

You can withdraw from the flexible credit limit through the Home Credit App by following the below-mentioned steps:

• Open the Home Credit app and login using the registered mobile number with Home Credit.
• Go to the Flexible Personal Loan page.
• Click on "Withdraw" on the Flexible Personal Loan page.
• Select the amount you wish to withdraw.
• Enter the OTP to authorize the transaction.
• The amount will be transferred to your linked bank account.

Home Credit Flexible Personal Loan offers a flexible limit for 36 months. A Flexible Personal Loan can later be converted into a term loan for up to 24 months. There is no minimum tenure, and you can repay the outstanding principal whenever you want, through the "Pay Now" section on the Flexible Personal Loan page in the Home Credit app.

Yes, Home Credit allows you to choose the flexible credit limit from ₹10,000 up to the maximum offered limit.

A Valid PAN Card, an Address proof and proof of an active bank account are required to apply for Flexible Personal Loan.

Flexible personal loans are different from personal loans in the following ways:

• Fixed-term personal loans have a fixed tenure with an agreed-upon repayment schedule and a fixed rate of interest, whereas a flexible personal loan offers the flexibility to withdraw the amount you need from your approved loan limit as many times as you want and repay whenever you have funds with you.
• A personal loan requires you to pay a fixed EMI throughout the loan tenure. Whereas, a flexible personal loan allows you to pay a minimum amount due every month and offers the flexibility to pay the principal outstanding whenever you have extra cash available with you.
• Personal loans are mostly subject to a fixed rate of interest that is charged on the entire loan amount once the amount is disbursed into your account. You may or may not utilize the entire personal loan amount in one go, but you end up paying interest on the full amount. Whereas, in a flexible personal loan, the interest is charged only on the limit utilized (the amount you withdraw into your account) and not on the total limit provided. Also, interest is charged only for the number of days the amount is utilized. This brings down your interest, thereby giving you financial flexibility and affordability.

It takes a few minutes to get online approval for your flexible personal loan application. All you need to do is meet the eligibility criteria and provide the details required in the application form available on our mobile app.

No, Home Credit does not charge any origination fee for Flexible Personal Loan. This means that you can get a flexible limit at no cost until you withdraw an amount into your account.

The transaction fee is 2.5% of the withdrawal amount. It is charged only when a withdrawal is requested by you.

Your monthly bill will be generated 15 days before the due date. It will be made available on the mobile app and sent to your registered email ID. You can easily download your monthly bill from our Home Credit app. Just click on your Flexible Personal Loan on the Home Page and go to the View Monthly Bill section.

The exact due date is generated once the loan application process is completed, and the contract is signed. Once generated, the due date cannot be changed.

You are requested to set-up auto debit at the time of taking the loan so that your monthly bills will automatically be deducted from your bank account on your due date. If for any reason you were unable to pay using auto-debit, you can pay your monthly bill through the Home Credit App. Select the "Pay Now" option on the Flexible Personal Loan page and choose a repayment method from the available options. If you wish to set up auto debit now, click here

The minimum amount due on your monthly bill will be 3% of the outstanding principal + applicable interest on the amount utilized, or Rs. 2500, whichever is higher. It is mandatory to pay the monthly bill on or before your due date to avoid late payment charges and a negative impact on your credit score. You can also make a lump-sum payment of the outstanding principal anytime you have additional funds with you.

Late payment charges will be levied on your total outstanding amount if the minimum amount due as per the monthly bill is not paid by the due date.

You can foreclose your Flexible Personal Loan by placing an early repayment request by calling 0124 662 8888 or writing to our Customer Care department at care@homecredit.co.in.

Yes, a person with no credit history can also apply for a Home Credit Flexible Personal Loan. To apply for a Home Credit Flexible Personal Loan, you should:

• be between 18 and 60 years of age.
• have documented proof of an active source of income.
• have valid KYC documents (a PAN card and one address proof).
• have an active bank account 

Yes, a pensioner can also avail of a Home Credit Flexible Personal Loan if they meet the minimum eligibility criteria.

Yes, existing Home Credit customers can also apply for a Flexible Personal Loan product if their current contracts are not delinquent. Also, there should be a 90-day gap between two home credit loan applications.