Credy Personal Loan Details

Loan amountUp to Rs. 1 Lakh
Rate of interest1% to 1.5% of the loan amount per month
Tenure3 to 12 months
Lowest EMI possibleRs. 8,885 per Lakh
Processing fee3% of the loan amount + GST
Prepayment charges2% of the outstanding loan amount + GST
Late payment penalty 2% of EMI amount per week + GST
Disbursal TATWithin 24 hours after approval
Minimum monthly salary At least Rs. 20,000

Types of Credy Personal Loan

Credy Loan apps offer the following different types of personal loans for various needs:

CrEducate: It is a personal loan for education expenses. This loan can be used for expenses incurred on your or your children’s online course/ certification, school fees, coaching classes, and entrance fees.


  • Hassle-free online process with laptop or phone.
  • Terms customized to the borrower’s course structure and financial capacity.
  • Zero fees or interest applicable for customers from partner institutes.
  • The loan can be renewed easily for next educational needs.
  • Affordable interest rate starting at just 1% per month.
  • Flexible loan tenure of 3 to 12 months.

Emergency Loan: This paperless personal loan can be used for urgent need of funds, such as a medical emergency, marriage or any unplanned expense that can arise.


  • Hassle-free online process. 
  • Terms customized to borrower’s financial capacity.
  • Get instant approval and disbursal within 24 hours.
  • The loan can be renewed easily. 
  • Loan up to Rs. 1 Lakh if you fulfill the requirements.
  • Minimum monthly salary required is Rs. 15,000.
  • The applicant must be living in Bengaluru, Chennai, Mumbai, Hyderabad, or Pune.
  • Affordable interest rate of 1% to 1.5% per month.
  • Flexible loan tenure of 3 to 12 months.

CredyT Refinancing: With this instant personal loan you can refinance your credit card bill and save up to Rs. 15,000.


  • Get instant approval online for Credy refinancing.
  • Credy repays your credit card bill directly and you can repay to Credy in cheaper 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 improves credit score.

Advance Salary Loan: Under this loan, you can get an advance salary up to Rs. 1 Lakh at affordable rate of interest to fulfill your urgent financial requirements.


  • Get instant approval and money will be disbursed online to your account in just 24 hours.
  • Avail of loans up to Rs. 1 Lakh.
  • Loan tenure can be anywhere between 3 to 12 months.
  • Annualised interest rate of 12% to 22% of the loan amount will be charged.
  • Processing fee is 3% of the loan amount plus applicable GST.

Features of Credy Personal Loan

The features of Credy Personal Loan are:

  • Purpose: You can use it for any purpose. It could be for the refinancing of a loan, consolidation of debts, planning a wedding, for the purchase of a gadget, for planning a holiday, to meet medical emergencies, education-related expenses, and so on.
  • Quantum: The maximum loan quantum is  1 Lakh
  • Repayment: The minimum repayment period is 3 months and the maximum repayment period is 12 months.
  • Rate of interest: Credy loan interest rate ranges from 1% to 1.5% of the loan amount per month. The pricing depends on the loan amount, credit score, and the profile of the customer.
  • Security: The loan is unsecured and hence no security is required
  • Processing fees: Processing fees at 3% of the loan amount (minimum Rs. 500) + GST will be collected.

Why Apply for Credy Personal Loan

Following are some of the reasons to apply for Credy Personal Loan:

  • Fast and easy online processing
  • Instant approval
  • Paperless documentation
  • Customised loan
  • Nominal processing charges
  • Competitive rate of interest
  • Easy payment options

Credy Personal Loan EMI Calculation

You can calculate your Credy Personal Loan EMI through MyMoneyMantra's Personal Loan EMI Calculator by just entering a few details like loan amount, interest rate, and tenure of repayment.

This EMI Calculator tool also provides you with the complete amortization schedule for loan repayment.

Here’s an example:

  • Personal loan amount required: Rs. 1 Lakhs
  • Applicable rate of interest: 12% p.a.
  • Tenure: 1 year
  • EMI to be paid each month till the tenure ends: Rs. 8,885
  • Total interest to be paid: Rs. 6,619
  • Total amount to be paid to the lender: Rs. 1,06,619

Amortization schedule of the above example:

YearOpening BalanceAmount Paid (EMI*12)Principal Paid During the YearInterest Paid During the YearClosing Balance
1Rs. 1,00,000Rs. 1,06,619Rs. 1,00,000Rs. 6,619Rs. 0

Documents Required for Credy Personal Loan

You need to submit the following documents in order to apply for the Credy Personal Loan:

  • Aadhaar Card
  • Last 6 months' statement of your salary account
  • Payslips
  • Rent agreement
  • Closure certificate of the previous loans

Credy Personal Loan Eligibility Criteria

The following eligibility criteria have to be met with to qualify for the loan:

  • The age of the applicant should be above 18 years.
  • The applicant should be a resident of India.
  • To apply personal loan to salaried employee, the monthly income should be minimum of Rs. 15,000.
  • The applicant should have a valid Aadhaar number.
  • The applicant should be located at Pune, Mumbai, Chennai, Bangalore, or Hyderabad.
  • For education-related loans, paying for courses, etc., Credy is operational in Mumbai, Pune, Bengaluru, Kolkata, Hyderabad, and Nagpur.

Credy Personal Loan Charges

The following are the charges associated with Credy Personal Loan:

  • Registration/ Credit Report/ Instant Approval/ Personal Finance Tutorials: Free.
  • Interest payable: 1% - 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 permitted after 1st EMI payment.
  • Late payment fees: 2% of the EMI amount per week
  • Fees paid are non-refundable. 
  • GST @18% is applicable additionally on all the fees mentioned above.

Credy Personal Loan Customer Care

You can contact Credy Customer Care for any queries regarding personal loans on the following numbers:

  • 080 4680 5616
  • +91 8310440201 (WhatsApp number)

You can also send an email at support@credy.in for loan information. 

Credy Personal Loan Customer Care

You can contact Credy Customer Care for any queries regarding personal loans on the following numbers:

  • 080 4680 5616
  • +91 8310440201 (WhatsApp number)

You can also send an email at support@credy.in for loan information. 

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Credy Personal Loan FAQs

Which are the places where Credy is present?


At present Credy is located in Chennai, Bangalore, Mumbai, Pune, and Hyderabad for Personal Loans. For education loans, they are operating at Bangalore, Kolkata, Mumbai, Hyderabad, Pune, and Nagpur.

What is the maximum loan provided?


The maximum loan provided is Rs. 1 Lakh, depending on the income and credit score of the applicant.

How to apply for Credy Personal Loan?


Follow the following simple steps to apply for Credy Personal Loan:

  • Download and install the Credy app.
  • Fill in the loan application and required details either in the mobile app or on their official website.
  • Upload the required documents.
  • Credy will do the review and verification.
  • Then the request is sent to the lender.
  • On approval, the loan will be disbursed.

What is the turnaround time for the loan?


The sanction of loan is done instantly on the app or the website. Subsequent to this, the verification of the documents is done. On approval, the money will be disbursed within 24 hours.

What is the security required for Credy Personal Loan?


If you comply with the eligibility criteria, there is no need for any security. If your employer has a tie-up with Credy, the deal will be attractive.

Is there a procedure of residence verification?


Yes, residence verification is a must. Once the loan is approved, the representatives of Credy will contact you for making arrangements for a visit to your residence.

How is the employment verification done?


The employment verification is done by Credy by confirming your work email or by obtaining a reference letter from your HR head.

What is the reason to collect NACH/undated cheque?


The undated bank cheque is a security cheque collected to recover the amount in case of prolonged default. The NACH form is collected to initiate the auto-debit option for payment of EMI.

What are the modes of repayment of the EMI?


The loan repayment can be done through the gateway of Credy. If a NACH form is submitted, then the auto-debit instruction will be initiated. A discount of Rs. 50 is offered for payment of EMI before the due date.

Can a person who has changed a job recently apply for the loan?


Yes, a person who has changed a job recently can apply for the loan provided at least one salary credit from the present job has come into their account. The credit of your earlier salary and the new payslip will be reviewed.

What action will be taken if payments have been defaulted?


The default in payments is viewed very seriously. Regular reminders about the due date of payment will be sent vide SMS to the registered mobile number of the borrower to ensure that payments are made on the due date.  If the auto-debit is dishonoured a notice for immediate payment will be sent. Even a personal visit to the residence is a part of the recovery steps. Despite several reminders and personal visits, if the repayment does not materialise, then legal action will be initiated for recovery.

Is there a provision for a top-up loan?


If you are an existing borrower and have paid 50% of the number of EMIs, then you will be eligible for a top-up loan.

If the borrower is not able to pay the EMI fixed at the time of loan disbursement, is it possible to reduce the EMI amount?


The loan can be restructured to give a longer repayment period in order to reduce the EMI amount on a case to case basis. This will be done only on an evaluation of the reasons for the financial issue.

After disbursement of the loan, can the EMI due dates be modified?


The EMI due dates can be changed by 3 days if a request is placed through an email to Credy with valid reasons.

Is the information provided to Credy safe?


Credy is ISO 27001 2013 certified and the information is very secure. They do not share the information even with the lenders unless required by law in case the loan has defaulted.