Pre-approved credit limit
Enjoy your pre- approved limit based on the credit rating
Quick & convenient
Easy application process with minimum documentation
Withdraw the amount from your available limit whenever you want without any additional documentation
With Home Credit flexi cash loan, you can now pay whenever you have additional funds without any extra charges
Fee and Eligibility
|Joining fee||3% of the credit limit|
|Annual renewal fee||2% of the credit limit|
|Transaction fee||2.5% of the disbursed amount|
|Flat rate of interest||24% - 56.5% Per Annum|
|Days Past Due||Outstanding Principal Amount|
|Less than or equal to ₹ 5,000||More than ₹ 5000 & Less than or equal to ₹ 50,000||More than ₹ 50,000|
|Late Payment Charges||Total Late Payment Charges||Late Payment Charges||Total Late Payment Charges||Late Payment Charges||Total Late Payment Charges|
|1 Day||₹ 150||₹ 150||₹ 350||₹ 350||₹ 500||₹ 500|
|30 Days||₹ 200||₹ 350||₹ 450||₹ 800||₹ 600||₹ 1100|
|60 Days||₹ 300||₹ 650||₹ 550||₹ 1350||₹ 700||₹ 1800|
|90 Days & Above||₹ 450||₹ 1100||₹ 750||₹ 2100||₹ 1000||₹ 2800|
Note: In case of non-payment, Late Payment Charges shall be levied on the total outstanding principal amount of your loan.
- Applicant should be an Indian Citizen between 18 and 69 years of age
- Applicant should have a valid Identity proof and Address proof
- Applicant should have an active bank account
- Applicant should be salaried or self-employed, with an active source of income
Frequently Asked Questions
What is a Flexible Personal Loan?
Flexible Personal Loan is an instant credit limit available for the customer which can be used for various purposes like medical treatment, home renovation, travel, wedding and/or any other financial requirement
What is the eligibility criteria for Flexible Personal Loan?
You can avail Home Credit Flexible Personal Loan, if you fulfill the following criteria:
- Should be between 18 to 65 years of age
- Should have a documented proof of an active source of income
- Should have valid KYC documents (1 Identity & 1 Address proof)
- Should have an active bank account
What is the minimum and maximum limit offered by Home Credit?
With Home Credit Flexible Personal Loan, you can borrow an amount ranging from ₹10,000 to ₹2,00,000
What is the minimum and maximum tenure offered for a Flexible Personal Loan?
Home Credit Flexible Personal Loan offers a fixed tenure of 36 months. A Flexible Personal Loan can later be extended up to 24 months by converting it into a fixed term loan
Can I choose the limit amount for my Flexible Personal Loan?
Yes, Home Credit gives you the flexibility to choose the credit limit from ₹10,000 up to the maximum offered limit
What all documents do we need to apply for Flexible Personal Loan?
A Valid ID proof, an Address proof and proof of an active bank account are required to apply for Home Credit Flexible Personal Loan
How can I use Flexible Personal Loan? What all can I buy using Flexible Personal Loan?
Flexible Personal Loan allows you to transfer the fund from your available credit limit directly to your bank account. You can use the withdrawn amount for purposes like medical treatment, business expansion, home renovation etc. depending on your requirement
How is Flexible Personal Loan different from a personal loan?
Flexible Personal Loan is different from personal loan in the following terms
- Personal loans are extended for a particular period of time with an agreed-upon repayment schedule with 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.
- A personal loan requires you to pay a fixed EMI throughout the loan tenure. A Flexible Personal Loan, however, allows you to pay a minimum Amount Due every month and also offers the flexibility to pay whenever you have an extra cash available with you
- Personal loans are mostly subject to a fixed rate of interest that is charged on the entire loan amount, whether the amount is used or not. However, in a Flexible Personal Loan, the interest is charged only on the limit utilized and not on the total sanctioned limit. This brings down the EMIs, thereby aiding you to manage your finances easily
Can I use Flexible Personal Loan outside this App?
Your Flexible Personal Loan usage is currently limited to withdrawal of funds directly to your bank account
How do I apply for a Flexible Personal Loan?
You can apply for the Flexible Personal Loan through the Home Credit Mobile App by following the below-mentioned steps
- Download ‘SuperCupo’ App from the Google Play Store
- Sign up for the App
- Start the mission 'Get a Loan'
- Select the Loan Option 'Financial Flexibility'
- Complete the application process
- And visit a Home Credit Partner shop to complete KYC and activate your limit
How long does it take for the Flexible Personal Loan application to get approved?
It takes a few minutes to get an online approval for your Flexible Personal Loan application. All you need is to meet the eligibility criteria & provide the details required in the application form available on our Mobile App
Do I need to pay a fee to apply for a Flexible Personal Loan?
Yes, A Flexible Personal Loan requires a one time joining fee
When will I get the Flexible Personal Loan monthly bill?
Your monthly bill will be generated 15 days before the due date and shared with you through our Mobile App and your registered e-mail ID. You can easily download your monthly bill on our mobile App
What will be the due date for my Flexible Personal Loan? Can I change the due date?
The exact due date is generated once the Loan application process is completed and contract is signed. Once generated, the due date cannot be changed.
When would the late payment charges be levied?
Late payment charges will be levied on your total outstanding amount if Monthly amount Due is not paid by the due date
How can I foreclose my Flexible Personal Loan?
You can foreclose your Flexible Personal Loan by placing an Early Repayment request by calling or writing to our Customer Care department
Can someone with no credit history apply for Flexible Personal Loan?
Yes, a person with no credit history can also apply for a Home Credit Flexible Personal Loan if s/he meets the following eligibility criteria: • Should be between 18 to 65 years of age • Should have a documented proof of an active source of income • Should have valid KYC documents (1 Identity & 1 Address proof) • Should have an active bank account
Can a retired person can also apply for Flexible Personal Loan?
Yes, a pensioner can also avail Home Credit Flexible Personal Loan, if they meet the minimum eligibility criteria
Can an existing Home Credit customer can also apply for Flexible Personal Loan?
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 gap of 90 days between two loan applications