Introduction
What is a Personal Loan?
Credy offers short-term personal loans to make their customer’s life easy. They have special customized solutions to meet the requirements of their customers with fast, cheap and reliable products and service. You can now travel without second thoughts as you can have your funds covered with a Credy Personal Loan.
(Best credit loan app review) provides personal loans for employees, emergencies and educational expenses. The process is completely online. You can just download their app and apply for the loan from anywhere.
Features and benefits of Credy Personal Loan
- Flexible end use credy Personal Loans are multi-purpose loans, meaning, you can utilize them for any necessity or requirement that you are facing. It can be used to organise a wedding, take a family vacation, upgrade your house, pay for education fees, buy furniture or electronics, expand business or pay for a medical emergency.
- Fast disbursal
- Loan amount
- Interest rates
- Offers
- No collateral needed
- Online process
- Credy provides a very simple online process that is completed in just three steps. First, one needs to apply by submitting a loan request and can get an instant approval. Second, the verification process is carried out for approval. Thirdly and lastly, a digital sign and the verification of Aadhaar is done and the loan is in your back account in 48 business hours.
Credy Personal Loans have the option of instant approval. This means that your personal loan application is approved instantly in just one minute when applied through Credy. Detailed terms are provided in just 3 hours and the loan amount gets disbursed in just 48 hours making it a very fast process.
Credy offers up to Rs.1 lakh as the loan amount for their personal loan. Tenures for their personal loan range from 3 months to 1 year.
Credy offers transparent rates to their customers that begin at just 1% per month. There no additional hidden charges that are charged to the customer.
Credy provides various offers to their customers such as referrals, early payments and sharing bonuses. There is easy tracking that can be done on the mobile app and this is backed by prompt service on their end. This is very beneficial for the customer.
Credy Personal Loans are unsecured. This means that you do not need to provide any collateral as security for the loan amount.
Eligibility for Credy Personal Loan
To apply for a Credy Personal Loan, there are certain eligibility criteria to meet. They are:
- Must be a salaried employee with a minimum monthly salary of Rs.15,000
- Should have a valid Aadhaar number
- Must apply from Bangalore, Chennai, Pune or Mumbai
Documents required for Credy Personal Loan
There are certain documents that one needs to provide in order to get the loan sanctioned by Credy. These documents are:
- ID proof (Passport, PAN, Driving license, Voter’s ID)
- Aadhar card
- Last 6 months bank statement of salary account
- Play slips
- Rental agreement
- Closure certificates of any previous loans
Credy Personal Loan: Fees and charges
| Feature | Fees |
|---|---|
| Free |
| Processing fees | 3% of Loan Amount (Minimum Rs 500) |
| Pre-closure charges | 2% on the outstanding loan amount |
| Late Fees |
|
| Interest Rate | Typically, 1% - 1.5% of Loan Amount Per Month |
| Minimum Period of Repayment | 3 months |
| Maximum Period of Repayment | 12 months |
Pre-closure can be done only after 1st EMI payment. All the fees that is paid by the customer is non-refundable. GST of 18% is chargeable on all the fees. (Best credit loan app review)