Credy Personal Loan
Credy Personal Loan
Mar 20, 2024
15 Mins
Introduction:
At Credy, we provide instant personal loans online up to Rs. 1 Lakh to meet all your financial needs. With us, you can get loan approval and receive the funds within 24 hours. Our personal loan interest rate ranges from 1% to 1.5% of the loan amount per month, and the repayment tenure can be set between 3 to 12 months.
Details of Credy Personal Loan
Loan amount: Up to Rs. 1 Lakh
Interest rate: 1% to 1.5% of the loan amount per month
Tenure: 3 to 12 months
Lowest EMI possible: Rs. 8,885 per Lakh
Processing fee: 3% of the loan amount + GST
Prepayment charges: 2% of the outstanding loan amount + GST
Late payment penalty: 2% of EMI amount per week + GST
Disbursal TAT: Within 24 hours after approval
Minimum monthly salary: At least Rs. 20,000
Types of Credy Personal Loan
Credy offers a range of personal loans to cater to different needs:
1. CrEducate: This personal loan is specifically designed for education expenses. It can be used to cover online courses, certification fees, school fees, coaching classes, and entrance fees.
Features:
- Hassle-free online application process using a laptop or phone.
- Loan terms customized to fit your course structure and financial capacity.
- No fees or interest charged for customers from partner institutes.
- Loan renewal option available for future educational needs.
- Affordable interest rates starting at just 1% per month.
- Flexible repayment tenure of 3 to 12 months.
2. Emergency Loan: This paperless personal loan is ideal for urgent financial needs, such as medical emergencies, marriages, or unplanned expenses.
Features:
- Simple and convenient online application process.
- Loan terms customized to fit your financial capacity.
- Instant approval and disbursal within 24 hours.
- Easy loan renewal option.
- Loan amount up to Rs. 1 Lakh, subject to fulfilling certain requirements.
- Minimum monthly salary requirement of Rs. 15,000.
- Available for residents of Bengaluru, Chennai, Mumbai, Hyderabad, or Pune.
- Competitive interest rate of 1% to 1.5% per month.
- Flexible repayment tenure of 3 to 12 months.
3. CredyT Refinancing: With this instant personal loan, you can refinance your credit card bill and save up to Rs. 15,000.
Features:
- Instant online approval for Credy refinancing.
- Credy repays your credit card bill directly, and you can repay Credy in affordable EMIs.
- Interest rate for Credy loan varies between 18% and 25%, whereas credit cards charge up to 42% p.a.
- Fresh spends are not charged as you will settle the bill.
- It helps improve your credit score.
4. Advance Salary Loan: This loan allows you to get an advance salary up to Rs. 1 Lakh at an affordable interest rate to fulfill your urgent financial requirements.
Features:
- Instant approval and money disbursed online to your account within 24 hours.
- Loan amount up to Rs. 1 Lakh.
- Loan tenure ranging from 3 to 12 months.
- Annualized interest rate of 12% to 22% of the loan amount.
- Processing fee of 3% of the loan amount plus applicable GST.
Key Features of Credy Personal Loan
- Flexible usage: You can use the loan amount for any purpose, such as refinancing existing loans, debt consolidation, wedding expenses, gadget purchases, holiday planning, medical emergencies, education-related expenses, and more.
- Loan quantum: We offer a maximum loan amount of Rs. 1 Lakh.
- Repayment options: You can choose a repayment period between 3 to 12 months.
- Competitive interest rates: Our interest rates range from 1% to 1.5% of the loan amount per month. The final rate depends on factors such as loan amount, credit score, and customer profile.
- Unsecured loan: Our personal loan does not require any collateral or security.
- Processing fees: We charge a processing fee of 3% of the loan amount (minimum Rs. 500) + GST.
Why Choose Credy for Personal Loans
- Fast and easy online process
- Instant loan approval
- Paperless documentation
- Customized loan solutions
- Nominal processing charges
- Competitive interest rates
- Easy payment options
Other Instant Loan Apps
mPokket
Cashe
MoneyTap
PaySense
moneyview
Dhani
Cashbean
Nira
Credy Personal Loan EMI Calculation
You can calculate your EMI for a Credy Personal Loan using MyMoneyMantra's Personal Loan EMI Calculator. Just enter a few details such as the loan amount, interest rate, and repayment tenure, and the calculator will provide you with the monthly EMI amount. It also generates a complete amortization schedule for loan repayment.
For example:
Personal loan amount required: Rs. 1 Lakh
Applicable rate of interest: 12% p.a.
Tenure: 1 year
Monthly EMI: Rs. 8,885
Total interest to be paid: Rs. 6,619
Total amount to be paid: Rs. 1,06,619
Comparison of Credy Personal Loan with Other Lenders
Here's a comparison of Credy Personal Loan with other lenders:
Lender Name
Rate of Interest (per annum)
Processing Fee
Maximum Loan Limit
Credy
12% - 18%
3% + GST
Rs. 1 Lakh
AnyTimeLoan
18.25% - 54.75%
Up to 2%
Rs. 10 Lakhs
Navi
12% - 36%
3.99% - 6%
Rs. 5 Lakhs
EarlySalary
24% - 30%
Rs. 199 onwards
Rs. 5 Lakhs
CASHe
27% - 33%
Up to 3%
Rs. 4 Lakhs
PaySense
16% - 36%
Up to 2.5% + GST
Rs. 5 Lakhs
Documents Required for Credy Personal Loan
To apply for a Credy Personal Loan, you need to submit the following documents:
1. Aadhaar Card
2. Last 6 months' salary account statement
3. Payslips
4. Rent agreement
5. Closure certificate of previous loans
Eligibility Criteria for Credy Personal Loan
To qualify for a Credy Personal Loan, you need to meet the following eligibility criteria:
1. Age: You must be above 18 years old.
2. Residence: You should be a resident of India.
3. Monthly income: For salaried employees, the minimum monthly income should be Rs. 15,000.
4. Aadhaar number: You must have a valid Aadhaar number.
5. Location: You should be located in Pune, Mumbai, Chennai, Bangalore, or Hyderabad.
For education-related loans, paying for courses, etc., Credy operates in Mumbai, Pune, Bengaluru, Kolkata, Hyderabad, and Nagpur.
Charges for Credy Personal Loan
The following charges apply to Credy Personal Loan:
- Registration/Credit Report/Instant Approval/Personal Finance Tutorials: Free of charge.
- Interest payable: 1% to 1.5% of the sanctioned loan amount per month.
- Processing fees: 3% of the loan amount with a minimum of Rs. 500.
- Prepayment fee: 2% of the outstanding loan amount. Early repayment is allowed after the first EMI payment.
- Late payment fees: 2% of the EMI amount per week.
- All fees paid are non-refundable.
- GST at 18% is applicable to all the mentioned fees.
How to Apply for Credy Personal Loan?
Follow these steps to apply for a Credy Personal Loan:
1. Install the Credy app.
2. Fill in the loan application and required details either in the mobile app or on our official website.
3. Upload the necessary documents.
4. Credy will review and verify your application.
5. Once approved, the loan will be disbursed to your account.
Credy Personal Loan Customer Care
For any queries regarding personal loans, you can contact Credy Customer Care at the following numbers:
- 080 4680 5616
- +91 8310440201 (WhatsApp number)
You can also send an email to support@credy.in for loan information.
Introduction:
At Credy, we provide instant personal loans online up to Rs. 1 Lakh to meet all your financial needs. With us, you can get loan approval and receive the funds within 24 hours. Our personal loan interest rate ranges from 1% to 1.5% of the loan amount per month, and the repayment tenure can be set between 3 to 12 months.
Details of Credy Personal Loan
Loan amount: Up to Rs. 1 Lakh
Interest rate: 1% to 1.5% of the loan amount per month
Tenure: 3 to 12 months
Lowest EMI possible: Rs. 8,885 per Lakh
Processing fee: 3% of the loan amount + GST
Prepayment charges: 2% of the outstanding loan amount + GST
Late payment penalty: 2% of EMI amount per week + GST
Disbursal TAT: Within 24 hours after approval
Minimum monthly salary: At least Rs. 20,000
Types of Credy Personal Loan
Credy offers a range of personal loans to cater to different needs:
1. CrEducate: This personal loan is specifically designed for education expenses. It can be used to cover online courses, certification fees, school fees, coaching classes, and entrance fees.
Features:
- Hassle-free online application process using a laptop or phone.
- Loan terms customized to fit your course structure and financial capacity.
- No fees or interest charged for customers from partner institutes.
- Loan renewal option available for future educational needs.
- Affordable interest rates starting at just 1% per month.
- Flexible repayment tenure of 3 to 12 months.
2. Emergency Loan: This paperless personal loan is ideal for urgent financial needs, such as medical emergencies, marriages, or unplanned expenses.
Features:
- Simple and convenient online application process.
- Loan terms customized to fit your financial capacity.
- Instant approval and disbursal within 24 hours.
- Easy loan renewal option.
- Loan amount up to Rs. 1 Lakh, subject to fulfilling certain requirements.
- Minimum monthly salary requirement of Rs. 15,000.
- Available for residents of Bengaluru, Chennai, Mumbai, Hyderabad, or Pune.
- Competitive interest rate of 1% to 1.5% per month.
- Flexible repayment tenure of 3 to 12 months.
3. CredyT Refinancing: With this instant personal loan, you can refinance your credit card bill and save up to Rs. 15,000.
Features:
- Instant online approval for Credy refinancing.
- Credy repays your credit card bill directly, and you can repay Credy in affordable EMIs.
- Interest rate for Credy loan varies between 18% and 25%, whereas credit cards charge up to 42% p.a.
- Fresh spends are not charged as you will settle the bill.
- It helps improve your credit score.
4. Advance Salary Loan: This loan allows you to get an advance salary up to Rs. 1 Lakh at an affordable interest rate to fulfill your urgent financial requirements.
Features:
- Instant approval and money disbursed online to your account within 24 hours.
- Loan amount up to Rs. 1 Lakh.
- Loan tenure ranging from 3 to 12 months.
- Annualized interest rate of 12% to 22% of the loan amount.
- Processing fee of 3% of the loan amount plus applicable GST.
Key Features of Credy Personal Loan
- Flexible usage: You can use the loan amount for any purpose, such as refinancing existing loans, debt consolidation, wedding expenses, gadget purchases, holiday planning, medical emergencies, education-related expenses, and more.
- Loan quantum: We offer a maximum loan amount of Rs. 1 Lakh.
- Repayment options: You can choose a repayment period between 3 to 12 months.
- Competitive interest rates: Our interest rates range from 1% to 1.5% of the loan amount per month. The final rate depends on factors such as loan amount, credit score, and customer profile.
- Unsecured loan: Our personal loan does not require any collateral or security.
- Processing fees: We charge a processing fee of 3% of the loan amount (minimum Rs. 500) + GST.
Why Choose Credy for Personal Loans
- Fast and easy online process
- Instant loan approval
- Paperless documentation
- Customized loan solutions
- Nominal processing charges
- Competitive interest rates
- Easy payment options
Other Instant Loan Apps
mPokket
Cashe
MoneyTap
PaySense
moneyview
Dhani
Cashbean
Nira
Credy Personal Loan EMI Calculation
You can calculate your EMI for a Credy Personal Loan using MyMoneyMantra's Personal Loan EMI Calculator. Just enter a few details such as the loan amount, interest rate, and repayment tenure, and the calculator will provide you with the monthly EMI amount. It also generates a complete amortization schedule for loan repayment.
For example:
Personal loan amount required: Rs. 1 Lakh
Applicable rate of interest: 12% p.a.
Tenure: 1 year
Monthly EMI: Rs. 8,885
Total interest to be paid: Rs. 6,619
Total amount to be paid: Rs. 1,06,619
Comparison of Credy Personal Loan with Other Lenders
Here's a comparison of Credy Personal Loan with other lenders:
Lender Name
Rate of Interest (per annum)
Processing Fee
Maximum Loan Limit
Credy
12% - 18%
3% + GST
Rs. 1 Lakh
AnyTimeLoan
18.25% - 54.75%
Up to 2%
Rs. 10 Lakhs
Navi
12% - 36%
3.99% - 6%
Rs. 5 Lakhs
EarlySalary
24% - 30%
Rs. 199 onwards
Rs. 5 Lakhs
CASHe
27% - 33%
Up to 3%
Rs. 4 Lakhs
PaySense
16% - 36%
Up to 2.5% + GST
Rs. 5 Lakhs
Documents Required for Credy Personal Loan
To apply for a Credy Personal Loan, you need to submit the following documents:
1. Aadhaar Card
2. Last 6 months' salary account statement
3. Payslips
4. Rent agreement
5. Closure certificate of previous loans
Eligibility Criteria for Credy Personal Loan
To qualify for a Credy Personal Loan, you need to meet the following eligibility criteria:
1. Age: You must be above 18 years old.
2. Residence: You should be a resident of India.
3. Monthly income: For salaried employees, the minimum monthly income should be Rs. 15,000.
4. Aadhaar number: You must have a valid Aadhaar number.
5. Location: You should be located in Pune, Mumbai, Chennai, Bangalore, or Hyderabad.
For education-related loans, paying for courses, etc., Credy operates in Mumbai, Pune, Bengaluru, Kolkata, Hyderabad, and Nagpur.
Charges for Credy Personal Loan
The following charges apply to Credy Personal Loan:
- Registration/Credit Report/Instant Approval/Personal Finance Tutorials: Free of charge.
- Interest payable: 1% to 1.5% of the sanctioned loan amount per month.
- Processing fees: 3% of the loan amount with a minimum of Rs. 500.
- Prepayment fee: 2% of the outstanding loan amount. Early repayment is allowed after the first EMI payment.
- Late payment fees: 2% of the EMI amount per week.
- All fees paid are non-refundable.
- GST at 18% is applicable to all the mentioned fees.
How to Apply for Credy Personal Loan?
Follow these steps to apply for a Credy Personal Loan:
1. Install the Credy app.
2. Fill in the loan application and required details either in the mobile app or on our official website.
3. Upload the necessary documents.
4. Credy will review and verify your application.
5. Once approved, the loan will be disbursed to your account.
Credy Personal Loan Customer Care
For any queries regarding personal loans, you can contact Credy Customer Care at the following numbers:
- 080 4680 5616
- +91 8310440201 (WhatsApp number)
You can also send an email to support@credy.in for loan information.
Author
Pluto Team
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