Home Credit Review

Personal loan from Home Credit India targeting underserved segments with accessible eligibility.

NBFCRBI RegulatedSelf-Employed OK
Reviewed by BankCreds App Review Team· App Review Analysts Updated 14 June 2026

Home Credit India is best known for in-store EMI financing — the counter offer that turns a phone or appliance into monthly instalments — alongside separate cash personal loans. It's an RBI-registered NBFC, now owned by TVS Holdings after Home Credit's global group exited India in 2025.

This review covers what its loans really cost across a wide rate band, the add-on charges that can inflate that cost, and who the product genuinely suits.

Quick Facts

4.5★ · 15L

Play Store

₹4.8L

Max Loan

19.20% – 44.00% p.a.

Interest Rate

Within 24 hours

Disbursal

9 – 60 months

Tenure

0% – 5% of loan amount

Processing Fee

Rs 15,000 per month

Min Income

Play Store rating sourced from Google Play, as of 18 Jun 2026. Other figures from the lender's official disclosures.

Our Ratings

Disbursal speed 3.5/5

In-store approval in about 30 minutes; cash-loan disbursal targeted within 24 hours.

Interest & cost 2.0/5

A wide, high band (about 19% up to 44%), and optional add-ons can inflate the effective cost.

App experience 4.0/5

The app rates around 4.4★ with a large install base and useful calculators.

Customer support 2.5/5

Some users report penalty disputes and delays getting a closure (NOC) certificate.

Safety & transparency 3.5/5

An RBI-registered NBFC (now TVS-owned), but the add-on bundles need careful reading.

Loan Details & Charges

Loan Amount Rs 10,000 – Rs 4,80,000
Interest Rate 19.20% – 44.00% p.a.
Tenure 9 – 60 months
Processing Fee 0% – 5% of loan amount
Late Payment Penalty on overdue EMI
Prepayment As per agreement
Foreclosure As per loan agreement terms
Bounce Charges Rs 500 per bounce

Eligibility Criteria

Age 18-60 years
Min Income Rs 15,000 per month
CIBIL Score 750+
Employment salaried, self-employed
Documents PAN Card, Aadhaar Card, Income proof, Address proof, Bank statements

What It Actually Costs

Loan amount ₹1,00,000
Tenure 24 months
Monthly EMI ₹5,592
Total interest ₹34,208
Processing fee Up to 5% (~₹3,000 at 3%) + GST
Total repayment ₹1,34,208

Illustrative at a ~30% rate, mid-way up Home Credit's 19–44% band. Optional "Safe Pay" add-ons would add to this. Your actual rate depends on your profile — confirm it, and decline add-ons you don't want, before signing.

Try the Home Credit EMI calculator

Pros

  • Accessible to thin-file and new-to-credit borrowers
  • Fast in-store consumer-durable EMI — approval in about 30 minutes at the counter
  • An RBI-registered NBFC (Home Credit India Finance, now TVS-owned)
  • A well-rated app (~4.4★) with calculators and a free credit-score check
  • Long tenures available on cash loans

Cons

  • A wide, high rate band — roughly 19% up to 44% p.a.
  • Optional "Safe Pay" insurance/membership add-ons can inflate the effective cost
  • A processing fee up to 5% on cash loans
  • Some users report penalties despite on-time payment and delays getting a closure (NOC) certificate
  • The top of the band is expensive relative to a bank or Bajaj loan

Our Verdict

Home Credit India is one of the most accessible lenders for thin-file and new-to-credit borrowers, especially through its in-store consumer-durable EMI — quick approval at the counter for a phone or appliance. It's an RBI-registered NBFC, now owned by TVS Holdings after the global Home Credit group exited India in early 2025. The cost is the catch. The rate band is wide and high — roughly 19% up to 44% — and optional "Safe Pay" add-ons (insurance, payment holidays) carry extra fees that some users report being charged without clearly opting in. Read every checkbox and the full charges before you sign. Worth it for accessible in-store EMI if you can't borrow cheaper; an expensive way to take a plain cash loan.

Who Home Credit suits

In-store buyers who want consumer-durable EMI at the counter
Thin-file or new-to-credit borrowers needing accessible small-ticket credit
Repeat Home Credit customers, who tend to get better rates
Borrowers who will read the add-on fine print and decline what they don't want

Look elsewhere if

You qualify for a bank or Bajaj loan at 10–18% — the 19–44% band is expensive
You won't read the add-on and insurance fine print
You want a large-ticket (over ₹4.8 lakh) or long, low-cost loan

Things to Watch

  • The rate band is wide and high (about 19% up to 44%) — the floor is for the strongest profiles, so confirm your actual rate before accepting
  • Optional "Safe Pay" insurance/membership add-ons carry extra fees; some users report being charged for add-ons they didn't knowingly select — review every checkbox
  • Some users report penalties despite on-time payment and delays getting a no-objection (closure) certificate — keep payment proof and request your NOC in writing on closure

How to Apply for Home Credit

  1. 1

    Apply in-store or in the app

    Take an offer at a retail counter for consumer-durable EMI, or apply for a cash loan in the Home Credit app.

  2. 2

    Complete KYC

    Provide PAN (mandatory) and one identity/address proof; existing customers are preferred.

  3. 3

    Review the offer and add-ons

    Check the rate, the processing fee, and any "Safe Pay" add-ons — decline the ones you don't want.

  4. 4

    Receive funds

    In-store approval takes about 30 minutes; cash-loan disbursal is targeted within 24 hours of verification.

Documents Required

PAN card (mandatory)
One identity/address proof — Aadhaar, Voter ID, Driving Licence or Passport
An active bank account
Income proof may be requested for cash loans

What Real Users Say

Home Credit's app rates around 4.4★ on the Play Store and claims a customer base in the tens of millions.

Reviews praise accessibility but flag the cost, add-ons and closure friction.

What users love

Borrowers praise instant in-store EMI, accessible approval for thin files, and minimal documentation.

Common complaints

Some users report insurance/add-on charges they didn't clearly consent to, penalty disputes, and NOC delays.

How Home Credit Compares

vs Bajaj Finserv — Bajaj starts far cheaper for CIBIL 650+ — Home Credit's 19–44% only makes sense if you can't clear Bajaj's bar.

vs KreditBee — KreditBee overlaps Home Credit's risk segment but is app-only; Home Credit adds in-store consumer-durable EMI that KreditBee lacks.

vs CASHe — CASHe is similarly priced and short-tenure salaried-focused; Home Credit allows longer tenures but a similarly steep top-end rate.

How we tested

We reviewed Home Credit's published rates, fees and add-on products, confirmed its NBFC status and its 2025 change of ownership to TVS Holdings, and read recent borrower feedback across the Play Store and forums. The exact 44% ceiling is the lender's stated maximum (third-party listings often cap nearer 36%); conduct complaints are user-reported. Confirm your rate, fee and any add-ons before signing.

Frequently Asked Questions

What is the real interest rate on a Home Credit personal loan?
The band runs from about 19% p.a. up to around 44%. Your actual rate depends on your CIBIL, income and whether you're a repeat customer — the advertised floor is for the strongest profiles only.
Are there hidden charges or insurance add-ons?
There's a processing fee of up to 5%, plus optional "Safe Pay" add-ons (insurance, payment holidays). Some users report being charged for add-ons they didn't knowingly select, so review every checkbox before accepting.
Is Home Credit India RBI-approved and safe?
Yes — Home Credit India Finance Pvt Ltd is an RBI-registered NBFC. As of February 2025 it is owned by TVS Holdings and Premji Invest, after the original global Home Credit group exited India.
Why was I charged a penalty even after paying on time?
Some users report penalties or unclear schedules despite timely payment. Keep proof of every payment, request a written statement, and escalate to the RBI Ombudsman if it isn't resolved.
Will I get a closure certificate (NOC) after repaying?
You're entitled to a no-objection/closure certificate after full repayment, but some users report delays. Request it in writing immediately on closure to protect your credit score.

Download Home Credit

Get instant loan in minutes

Apply Now
Play Store

Compare With

Compare Apps

Home Credit Tools

Home Credit EMI Calculator

All Loan App Reviews

See how Home Credit stacks up against every other instant loan app we've reviewed — compare ratings, max loan and rates side by side.

Rank App Rating Max Loan Rate Review
1

Bajaj Finserv

 4.6 ₹55L 10.00% – 31.00% p.a. Read Review
2

Navi

 4.6 ₹20L 9.90% – 29.00% p.a. Read Review
3

KreditBee

NBFC lending partners

 4.5 ₹10L 12.00% – 28.50% p.a. Read Review
4

MoneyView

NBFC lending partners

 4.5 ₹10L 14.00% – 24.00% p.a. Read Review
5

Home Credit

 4.5 ₹4.8L 19.20% – 44.00% p.a. You're here
6

Fibe

NBFC partners

 4.5 ₹10L 18.00% – 36.00% p.a. Read Review
7

Piramal Finance

 4.5 ₹5L 12.99% – 24.00% p.a. Read Review
8

True Balance

NBFC partners

 4.5 ₹2L 28.80% – 36.00% p.a. Read Review
9

mPokket

NBFC partners

 4.4 ₹2L 22.00% – 36.00% p.a. Read Review
10

LazyPay

NBFC partners

 4.4 ₹5L 18.00% – 32.00% p.a. Read Review
11

Kissht

NBFC lending partners

 4.4 ₹5L 14.00% – 30.00% p.a. Read Review
12

Freo

NBFC partners

 4.4 ₹5L 13.00% – 36.00% p.a. Read Review
13

Nira

NBFC partners

 4.4 ₹1L 24.00% – 36.00% p.a. Read Review
14

CASHe

NBFC partners

 4.3 ₹3L 33.50% – 36.00% p.a. Read Review
15

FlexSalary

NBFC partners

 4.3 ₹2L 18.00% – 42.00% p.a. Read Review
16

OLYV

NBFC partners

 4.3 ₹5L 18.00% – 36.00% p.a. Read Review
17

Stashfin

NBFC partners

 4.2 ₹5L 11.99% – 59.99% p.a. Read Review
18

PayRupik

NBFC partners

 4.2 ₹2.5L 20.00% – 36.00% p.a. Read Review
19

HDFC Insta Loan

 4 ₹40L 9.99% – 24.00% p.a. Read Review
20

ICICI Bank Personal Loan

 4 ₹50L 9.99% – 24.00% p.a. Read Review
21

Axis Bank Instant Loan

 4 ₹40L 9.99% – 21.55% p.a. Read Review

Disclaimer: BankCreds.com is a loan comparison platform and does not directly lend, disburse, or provide any financial products. We aggregate and display loan offers from RBI-registered banks and NBFCs to help you make an informed decision. All loan applications are processed directly by the respective lender. Interest rates, charges, eligibility, and terms shown are indicative and subject to the lender's final assessment. Please read the lender's terms and conditions carefully before applying.