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Pre-loan Eligibility checker
Last updated on: July 22, 2025
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Read Bio| Eligibility Criteria | Requirement |
|---|---|
| Age | 21-60 |
| Documents Required | Last three months’ salary slip, Bank Statement, KYC |
| Minimum Work Experience | 2 years of work experience |
| Credit Score | 750+ |
| Bank Statement | Last 3 statements |
| Loan Amount | Up to ₹10 Lakhs |
In this article we discuss various aspects that influence the eligibility of an individual for an InCred personal loan.
| Transaction | Charges (in ₹) |
|---|---|
| Interest Charges | 13.99% to 42% |
| Loan Processing | Up to 5% of the loan amount |
| Late EMI Payment Charges | Up to ₹30 per month for every ₹1,000 Principal Overdue (Pro rata basis) |
| Loan Cancellation Charges | ₹1,000 + taxes |
| Swap Charges | ₹1,000 + taxes |
| Loan Cancellation | 4% of loan disbursed + taxes |
| Foreclosure Charges | Up to 5% + applicable taxes (after 6 months of disbursement) |
1. Is it still possible to get a loan for someone with a credit rating below 700?
Yes, InCred does consider application below 700. However, it is entirely at the discretion of the InCred Loan
2. Does it contain benefits for salaried applicants only?
This is good news for salaried professionals who are likely to get quick approval for their loan application and they are also entitled to higher loan amount
3. Am I eligible for personal loan if I am currently on probation in my company?
It depends on the category of the company. Generally, for Personal Loan, they require employees who have served atleast one year of service in the current company
4. Is there a special provision for loan with self-employed persons especially professionals?
Still yes, InCred does have customized products for those broad categories of people out there who are self-employed. The disbursal is entirely at the discretion of the management
5. How soon can one apply for another loan for instance in case the first loan was declined?
After three months, there is an option to reapply, provided you make efforts in some aspects that maybe violated your eligibility.
Written by Prem Anand, a content writer with over 10+ years of experience in the Banking, Financial Services, and Insurance sectors.
Prem Anand is a seasoned content writer with over 10+ years of experience in the Banking, Financial Services, and Insurance sectors. He has a strong command of industry-specific language and compliance regulations. He specializes in writing insightful blog posts, detailed articles, and content that educates and engages the Indian audience.
The content is prepared by thoroughly researching multiple trustworthy sources such as official websites, financial portals, customer reviews, policy documents and IRDAI guidelines. The goal is to bring accurate and reader-friendly insights.
This content is created to help readers make informed decisions. It aims to simplify complex insurance and finance topics so that you can understand your options clearly and take the right steps with confidence. Every article is written keeping transparency, clarity, and trust in mind.
Based on Google's Helpful Content System, this article emphasizes user value, transparency, and accuracy. It incorporates principles of E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness).
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