General FAQs

What is InCred?

InCred is a new-age financial services platform that leverages technology and data-science to make lending quick and easy. We give 4 kinds of loans – Personal Loans, Education Loans, Home Loans and SME Business Loans

What is Visu Leasing and Finance?

Visu Leasing and Finance Private Limited is our legal entity that owns the Non Banking Finance Company (NBFC) license granted by RBI. Our Personal Loan, Education Loan and SME Business Loan units lend through this entity.

How does InCred differentiate itself?

InCred has enabled a customer –focused, human approach to lending. Our products are flexible and can be tailor made to suit the unique requirements of our customers. We leverage technology and data science to simplify the borrowing process and make it quick and hassle-free. Our products do away with heavy documentation and mandatory branch visits. The team at InCred comprises former bankers and finance professionals who have been active in the lending space for over 15 years. The team intends to leverage its deep experience and understanding of financial services and businesses to provide funding solutions to customers as per their requirements. Developing long term, sustainable relationships with customers, providing customized products and ensuring superior customer experience are some of the key focus areas for the team.

What kind of loans does InCred provide?

We provide 4 kinds of loans – Personal Loans, Education Loans, Home Loans and SME Business Loans.

InCred provides short term unsecured personal loans to retail customers with ticket sizes of Rs 50,000 to Rs 7.5 lakhs.

InCred provides long-term loans to students pursuing higher education both in India as well as overseas. Loan sizes range from Rs 2 lakhs to Rs 100 lakhs.

InCred provides individuals with long term loans for first-time buyers of affordable housing, loans for self-construction and loans against property. Loan sizes range from Rs 2 lakhs to Rs 30 lakhs.

InCred provides both short-term working capital as well as term loans to small and medium enterprises. Loan sizes range from Rs 1 lakh to Rs 10 crore.

How do I apply for a loan?

You can apply for a loan through any of the following ways :

  1. You can apply directly through our website by clicking on Apply Now.
  2. Contact our Sales team at 011 4926 1400
  3. Email us at care@incred.com

Can I speak to someone directly?

Yes, for any queries, you can reach our sales team at 011 4926 1400

Product FAQs



What is a Home Loan?

Home Loan is a Secured Loan. Home Finance is offered against the security of a house / property which is funded by the bank's loan, the property could be a personal property or belonging to a firm.

Who is eligible for Home Loan?

A person with stable monthly income is eligible for Home loan.

  • Salaried person
  • Business Person with stable income & business.
  • A Partnership or a Pvt. Ltd. company.
  • Professionals with stable income & business

What is the difference between Home Loan & Loan against Property?

The loan availed to purchase a new residential property (builder purchase or resale) is called Home Loan. Loan taken by hypothecation of property (residential / commercial) is known as Loan against Property. The funds procured by Loan against Property can be used for various purposes. Any one qualifying the parameters of income & property can avail Home Loan or Loan Against Property.

Can the co-applicant's income get included when banks calculate my eligibility?

Yes! The banks also include the co-applicants income to determine the eligibility. The eligibility is based on the years remaining for retirement & the income. The banks readily include Spouse & parents income. Some financiers also add the income of brothers & other closed relatives. This has to be categorically clarified with the lender as this is not a norm. It would also be advisable to clarify if the daughters [married / unmarried] income is clubbed with their parents as this is also an exception.

Is Tax benefit applicable on the processing fee paid for the Home Loan?

The Income Tax Act, 1961 states that one can avail tax benefit under 3 sections for home loan

  1. Section 80 (c)
  2. Section 24(b)
  3. Section 2(28A)
  1. Section 80(c) - In this section the EMI component paid towards repayment of principal amount of the loan can be deducted from income. The borrower is eligible for a tax deduction for a maximum amount of Rs. 1L each year under section 80(c) irrespective of the tax bracket. To avail this deduction the property needs to be self occupied.
  2. Section 24(b) - The interest paid towards home loan is treated as an 'expense' under 'Income from house property' and is deductible under Section 24(b) from the total income. The maximum deduction permitted under this section is Rs.1.5L per annum.
  3. Section 2(28A) - Processing fee can be treated as interest and a deduction can be claimed according to Section 2(28A) of the I-Tax Act

What are the Home Loan Charges?

Processing Fees

We collect a processing fees of Rs 5750 during the time of application submission. This is inclusive of service tax of 15%.

What is a Personal Loan?

A personal loan is an unsecured loan for your financial needs like medical emergencies, planning a holiday or a wedding, purchasing a consumer durable or meeting an unexpected cash flow need. Loan ticket sizes range from Rs 50,000 to Rs 7.5 lakhs.

What are the documents required to apply for a loan?

As per RBI guidelines, we require a Proof of Identity, Proof of Address, PAN card for KYC requirements and a Bank Statement for the past 6 months to evaluate your loan eligibility.

What is the usual loan tenure?

Loan tenure ranges from 3 months to 3 years depending on your requirement.

How do I pay back the loan?

Once your loan is approved, and disbursed, you will be required to pay back the loan in Equal Monthly Installments (EMI), which will be automatically debited from your bank account via ACH.

Is it possible to pre-pay my loan early?

InCred personal loans can be pre-paid early. There is a pre-payment fee that applies which is part of our loan documentation.

Can my application be rejected?

If you are a genuine borrower, with no intent for fraud, a clean or new credit history, and documented incoming, then it is very rare for your application to be rejected. That said, fraudulent characters, and people with tainted credit histories, and past records of default often apply for loans on InCred, and our system is forced to reject such applications.

How will the loan be disbursed?

Post approval, your loan amount will be transferred digitally to your bank account.

What happens if I miss an EMI payment?

Missing payments is a bad thing - you will have to pay a bounce fee, and a late payment penalty. Your credit history may also be impacted, and as such this is not something you should plan to do. If there are genuine circumstances, such as loss of job or other emergency, then please call us in advance so that we can re-structure your loan to fit the circumstances.

Who is eligible to apply for an InCred Student Loan?

Citizens of India/Indian passport holders currently enrolled or planning to enroll in an eligible course can apply.

The co-signer must also be an Indian national or passport holder.

Non Resident Indians (NRIs) with an Indian passport or with an Overseas Citizens of India (OCI) or Persons of Indian Origin (PIO) cards are also eligible to apply for a student loan at InCred. Certain additional conditions may be required to be met for such applicants and co-signers on a case-specific basis.

Which destination countries are eligible for InCred Student Loans?

Currently, InCred Student Loans are available for eligible courses in the United States of America and Canada. Depending on the program of study, InCred may also process loan application for other destinations.

Which courses do you fund?

InCred provides education loans for programs at the undergraduate (bachelor), graduate (master) and doctoral levels. Certifications and diplomas are also eligible.

In terms of fields or streams of study or majors or subject areas, InCred has loan options available for all areas.

InCred will process loans only for those courses/institutes which have required approvals, authorizations or accreditation from relevant bodies.

What is the minimum and maximum amount I can borrow?

The absolute maximum amount that you can borrow is the entire cost of attendance as certified or provided by your university for all years of your course. This amount will be capped at INR 1 crores. However, if you are in receipt of a scholarship, grant, fellowship, assistantship or any other form of funding, you will need to deduct that amount from your InCred loan amount.

The minimum loan amount that you can apply for is INR 2 lakhs and the minimum you have to avail is INR 1 lakh.

Am I eligible to apply for a loan if I don’t have admission to a course yet?

Yes! You can apply as soon as you receive your standardized test score. If you are not going to take a standardized test, or want to apply prior to that for some reason, then you can start your loan application when you are in the process of short-listing or applying to your universities/colleges.

How does InCred evaluate its student loan applications?

InCred Student Loan leverages on educational and financial data analytics and predictive modeling driven by cutting edge technology to arrive at fully customized loan options for students. A trajectory of the potential income of the student after completing the course is charted that, in conjunction with historical data such as the student’s past academic and career records, co-signer’s credit worthiness, etc. portrays an accurate understanding of the risk involved in the case. This typically implies that the possibility of loan approval and more favorable terms are better if the student and/or the course are better. Availability of collateral security may also improve chances of loan approval in certain cases.

Do you cover the entire cost of attendance?

Yes, the entire cost of attendance (COA) as certified by your university or educational institute can be lent by us provided your application meets all loan parameters and requirements. The COA includes the tuition for your course, associated fees, housing, meals, books and laptop, travel, insurance and incidentals.

What is a Business Loan?

It is a loan taken by a business (sole proprietorship, partnership or a private limited company) to fund a new business or fund growth and expansion in an existing business . A Business Loan can be secured (i.e. against assets / property of the business) or it can be unsecured (i.e. without pledging anything against the borrowed amount). A Business Loan is thus a loan at an agreed interest rate to be repaid over an agreed time along with the interest from the cash flows generated by the Business. On the Business Loans side, the focus of InCred is going to be on funding SMEs (small and medium enterprises) for their expansion and working capital requirements.

What is the typical size of a Business Loan?

The size of a Business Loan varies from a few lakhs to a few crores depending on the nature and size of the businesses. InCred is focusing on lending ranging from Rs. 1 lakh to upto Rs. 10 crore.

What is the tenor for the Business Loans?

The tenor of the loan depends on the business requirements and the nature of the business. InCred is looking at funding businesses for their short to medium term requirements ranging from 12 to 36 months.

What are the documents required for applying for a Business Loan?

Typically, the following documents for the business and the promoter are required at the application stage -

  • Audited Financials for previous years and unaudited financials for the current year
  • Income Tax Returns
  • Bank Statements
  • KYC Documents
  • Proof of ownership of the assets
  • Key contracts of the business
As the due diligence process goes on, additional documents maybe requested from the Borrower.