Credy
Personal Loan

Credy offers 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.

Features:

• 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.

Features:

• 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.

Features:

• 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.

Features:

• 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.

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.

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

Other Instant Loan Apps

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:

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

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.

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.

Follow the following steps to apply for Credy Personal Loan:

• 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.

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.