General queries

How do I check the status of my loan application?

To check the status of your application
, 1) Go to “My loans” section
2) Click on the loan application.

Why is my loan application rejected?

Loan applications are rejected if they don’t meet InCred’s internal credit policies. Low income, higher existing debts, unstable employment are some of the reasons why your application might have been rejected.

What is auto EMI payment?

With auto EMI payments or NACH setup, EMIs will be debited automatically from your bank account. You don’t have to worry about timely payments. Just ensure you maintain sufficient balance. You can cancel this feature at any time.

How can I set up auto EMI payments?

If you do not have an auto-pay setup during loan application, the EMI Auto-Pay (NACH) task will be assigned to you and it will show up on the Home under Take Action. On clicking on that you will get an option to register for enach( if your bank is registered) or Physical Nach.

How can I pay my EMIs?

Once you have registered NACH with us, we will take care of auto-deducting the EMIs. Any up-coming EMIs will be notified to you on the app so that you can maintain balance in the bank.

What happens if I miss an EMI payment?

Missing payments is a bad thing - you will have to pay a bounce fee, and late payment charges. Your credit history will also be impacted, and as such, this is not something you should plan to do.

What do I do if my EMI collection fails?

You can pay your overdue charges on the InCred app under Critical Alerts. Alternatively, you will also receive an SMS with the payment link at the time of due. You can also pay your outstanding EMIs here.

I paid my dues on time. Why does the InCred app still show EMI overdue?

Payments made through Netbanking, UPI, or debit cards will be reflected immediately. Payments made using NEFT/ Bank transfer/cheques take time to reflect on the app. You don’t have to worry if you made the payments on time. No extra charges will be added. For more details, please contact our customer support.

What is the penalty for late payments?

Missing payments is a bad thing and you will have to pay a bounce fee of Rs 590, and a late payment penalty will be calculated based on the due date and payment date. Your credit history may also be impacted, and as such this is not something you should plan to do. If there are unavoidable circumstances which would lead you to miss a payment, then please call us in advance at our helpline number OR drop us a mail. We will try what we can so that you do not have to pay late payment charges.

How can I e-sign my loan agreement?

E-sign agreement task will be assigned to you and it will show up on the Dashboard under Take Action. On clicking on that, it will take you to the E-sign agreement task where you can go through the agreement and sign on screen and submit. You can also download the agreement from there.

Where can I see my statement of account?

To check your statement of account
1) Go to the “My Loan” section and tap on the active loan application.
2) Click on Documents.

Where can I see my repayment/amort schedule?

To check your statement of account
1) Go to the “My Loan” section and tap on any Active loan.
2) Click on the “Documents” tab.

Where can I see my sanction letter?

To check your statement of account
1)Go to the “My Loan” section and tap on inprogress application.
2)Click on documents.

Where do I see my loan details?

InCred’s loan rates vary from for each loan product. To check the interest rate of your loan:
1) Go to “My loans” section
2) Tap on the required loan application
3) Go to the “Loan Details” tab
4) You will be able to see your Sanctioned loan amount, Tenure, Rate, Insurance, Charges and other details for your loan.