TezCredit Loan
TezCredit is a digital lending platform which offers instant personal loans up to Rs. 2,50,000 to salaried individuals for 15 to 45 days of repayment tenure. The interest rate varies between 12% and 36%, and a processing fee of up to 5% of the loan amount + GST will be levied. The entire process is digital and takes only a few minutes.
TezCredit Personal Loan Details
Below are the key details of the TezCredit loan:
| Loan amount | Rs. 5,000 - Rs. 2,50,000 |
| Tenure | 15 - 45 days |
| Rate of interest | 12% - 36% p.a. |
| Processing fee | Up to 5% of the principal amount + GST |
| Minimum monthly income | At least Rs. 18,000 |
| Bureau score | Above 550 up to 700 |
Features & Benefits of TezCredit Loan
Below are the main features and attractive benefits of the TezCredit personal loan:
- Instant personal loans ranging from Rs. 5,000 to Rs. 2,50,000 for salaried individuals.
- Flexible repayment tenure of 15 to 45 days.
- A low bureau score above 550 is accepted.
- Automated checks ensure fast approvals without lengthy paperwork.
- Paperless KYC process, which is 100% digital and secure.
- Fair and affordable interest rates starting from 12% per annum.
- The loan amount can be used for medical bills, rent, shopping, education, travel, or emergencies.
- Quick and direct funds transfer by their NBFC partner to your bank account.
- No collateral required.
- Foreclosure and part prepayment facilities available.
TezCredit Loan Interest Rates & Charges
- Interest rate: 12% - 36% p.a.
- Processing fee: Up to 5% of the principal amount + GST.
- Conversion fee: Up to 2% of the principal amount + GST.
- Annual percentage rate (APR): Maximum 50%.
- Default/ overdue charges: Penalty fees apply for delayed or missed EMI payments.
Compare Tezcredit Loan App with Other Loan Apps
Below is the comparison table for the TezCredit Loan app with other loan apps:
| Lender | Interest Rate | Loan Amount | Tenure |
|---|---|---|---|
| TezCredit | 12% - 35% p.a. | ₹5,000 to ₹2.5 Lakhs | 15 - 45 days |
| Paisa Daily | 1.00% per day | ₹1,000 - ₹50,000 | 30 days |
| Snap Paisa | 1.25% - 2.92% p.m. | ₹5,000 - ₹1 Lakh | 61 to 365 Days |
| Salary Adda | 0.9% p.m. onwards | ₹10,000 - ₹1 Lakh | 91 to 365 Days |
| Jet Fund | Up to 3% p.m. | ₹5,000 - ₹1 Lakh | 91 to 365 Days |
| Dhan Pocket | 0.50% per day onwards | ₹5,000 - ₹1 Lakh | 7 Days to 3 Months |
| CreditSea | 14.00% p.a. onwards | ₹10,000 - ₹2 Lakhs | 3 to 36 Months |
| Ram Fincorp | 2% p.m. | ₹1,000 - ₹2 Lakhs | 2 - 12 months |
| FundoBaba | 15% to 35% p.a. | ₹5,000 to ₹1 Lakh | 61 to 365 days |
| SalaryOnTime | 0.25% per day onwards | ₹10,000 - ₹1,20,000 | Up to 12 Months |
TezCredit Loan Eligibility Criteria
- Eligible profile: Salaried employee with permanent/ regular status.
- Nationality: Indian citizen.
- Minimum salary: Rs. 18,000 or above per month.
- Average ticket size: Approximately Rs. 11,000.
- Serviceable PIN Codes: 13,000+.
- Eligible age: 21 to 58 years.
- Bureau score: Above 550 to a maximum of 700.
Documents Required for TezCredit Loan
To avail of a personal loan through the TezCredit app, you only need to upload the following documents:
- Selfie
- PAN Card
- Aadhaar Card
- Valid identity and address proof approved by the Indian government
- Aadhaar-linked mobile number
- At least 3 months’ salary credit in the current company
- Income proof such as Bank Statements, reflecting monthly salary
Steps to Apply for TezCredit Loan Online
Follow the easy steps given below to apply for the TezCredit loan online:
- Download the TezCredit app and register with your mobile number and OTP.
- Fill in basic details, including PAN, personal information, salary, employer, and other details.
- Verify your identity through a selfie.
- Verify Aadhaar and complete the application.
- Choose a loan amount and confirm tenure.
- Verify your Bank Account details.
- Accept the loan agreement and charges.
- Get the loan disbursed instantly to your bank.
TezCredit Customer Care Details
- Email support: support@tezcredit.com
- Registered office address: 1/22 Second Floor, Asaf Ali Road, Delhi, New Delhi - 110002
FAQs
Google Tez, or Tez, was a mobile payment and digital commerce app launched by Google in India on August 17, 2017. It was built on India’s Unified Payments Interface (UPI), which allowed users to transfer money directly from their bank account.
Yes, it is safe as it disburses loans through its RBI-registered NBFC partner, Finagle Financial Services Private.
All loans of Tez Credit are sanctioned and disbursed solely by their RBI-registered NBFC partner, Finagle Financial Services Private.
The interest rate for TezCredit loan ranges from 12% to 36% p.a.
No. TezCredit requires income proof, such as Bank Statements reflecting monthly salary.
Reshma Rawat is a passionate writer with a decade of experience in writing for a variety of domains (finance, technology, lifestyle, e-commerce, real estate, etc.). Currently, she is working as Assistant Manager - Content @MyMoneyMantra and writes blogs & webpages on financial products (loans, credit cards, insurance, government financial policies, mutual funds, etc.).
Director- MyMoneyMantra FinTech| A senior retail and commercial banking professional, adept at handling Business Development, Sales Planning & Growth, Product Strategy, Marketing Operations and Client advisory services phygitally.