Instant Personal Loan

We provide instant personal loan online for all your needs. You can submit a quick and hassle free application from our website or app, get instant loan approval and receive money within 24 hours.

Apply For Instant Personal Loan

Get Loan As Per Your Needs

Education Expenses

Good education is important, but it is also costly. Convert large school, college or coaching fees into EMIs. Renew EMI option when needed.

    School fees financing

    Tuition fees loan

    Partnerships with schools, coaching classes

    Payment options customised to your educational institute

    EMI options for own self or kids

Get Education Loan Learn More

Loans for Emergency

Get instant approval and quick disbursal for emergency like medical treatment

    Instant approval

    Fast disbursal, money in 24 hours

    For emergencies

    Repay over 1 - 9 months

    Helpful customer support

Get Emergency Loan Learn More

Refinance Credit Card Bill

Have a large credit card bill? Convert your bill into easy EMIs. Pay at your convenience. Combine multiple credit card bills and just pay one bill!

    Credit card refinancing

    Repay credit card debt

    Save on credit card interest cost

    Improve credit score

    Consolidate multiple cards & loans

Refinance Now Calculate Savings
Save Upto Rs 15,000!

Advance Salary

Need money before salary day? Take a quick short term loan and pay back and when salary is received.

    Instant approval

    Fast disbursal, money in 24 hours

    For urgent requirements

    Get amount more than monthly salary

    Repay over 1 - 9 months

Get Advance Salary Loan


Advantages Of An Unsecured Personal Loan

A personal loan is a loan which is transferred directly to your bank account. A personal loan can be used for any purpose you want. You can use it for refinancing your debt, medical emergency, expenses, credit card bill payments, two-wheelers or four wheeler financing, buying electronics, renovating your home, or any other reason you want to spend the cash on. Since you get the loan amount directly credited in your bank account, you can choose to do what you want to do with the loan amount. Credy does loan disbursal directly to your bank account via IMPS.

A personal loan can be both secured or unsecured. A secured personal takes some form of collateral against the loan. This collateral offers security to the lender so that if a borrower fails to make payments, they can make good of their losses in partial or full via the collateral. However, in an unsecured personal loan there is no collateral, and hence is less hassle for the borrower. At Credy we offer a convenient paperless unsecured personal loan to salaried people. To be eligible for the loan you have to be employed at any private or government sector company.

Credy's Instant Personal Loan Online - Application Process

Credy provides instant personal loans online in India, personalized to your specific use case at very competitive interest rates and with great customer service. The loan application process is completely paperless and online. You can apply for the loan by filling the online loan application form.

  • Instant Loan: Get to know if you are eligible for a loan instantly, as soon as you finish the instant loan application. This step is completely free, you can check your eligibility without incurring any cost.
  • Employment Details: Once you know that you are eligible for a loan, then you have to provide basic details about your current company, current experience, and your work email.
  • Personal Details: Provide your PAN card number, date of birth and address.
  • Six-month bank statement: Provide your six-month bank statement by either logging into your net banking or by downloading and uploading your six-month bank statements. It is recommended that you upload the bank statement by doing a net banking login, it is a completely secure and hassle-free process.

Just providing these details finishes your loan application. There are no other documents required for the loan application. Credit officers at Credy will review your application and you will get communication from Credy once your loan is approved. This communication will contain all the important loan terms. You will also need to provide your bank account details (your bank account number and the IFSC code of your bank account) so that the loan can be disbursed to your bank account via IMPS.

Before disbursal of the loan, our executive will visit your house to provide you with doorstep service. The executive will collect basic documents for identity and address proof during the visit.

Instant Loan Application

This step asks for basic questions about you and your financial health. You need to provide the following to finish this step. You should always provide accurate information about all the questions to ensure hassle-free processing of your loan.

  • Monthly take home salary: This is the salary amount which you get in your salary account every month from your company.
  • Employment status: Please tell us if you are salaried, self-employed as a professional or a self-employed business owner or unemployed. Currently, we are giving loans only to salaried individuals. However, you can still do the application, when we launch the Credy loan services for non-salaried individuals, we will contact you.
  • How you get your salary: Please tell us how you get your salary? Is it via direct money transfer to your bank account? Or via cheque or cash. Currently, we are giving loans to people who are getting their salary via the bank account only.
  • Current EMI: This is the current EMI which you are currently paying for any of the existing loans you have.
  • Credit Score: Your credit score is a score provided to you by the credit bureaus. If you do not know your credit score, you should enter 300 here. Know more about credit score here.
  • Reason for loan: Please tell us the reason for your loan. This will help us give you the best possible offer customized for your use case. If your use case is not listed in the dropdown, then you can select “Others” and provide us with the reason in the comment section, which will show up on selecting the “Others” option.
  • Loan amount required: Please tell us the loan amount which you require. We will give our offer to you based on this.
  • Current residence type: Please tell us the type of your current residence. This must be of the place you are currently residing in. If the house you are currently living in is owned by you, you can choose “Owned by Self”, if that house is owned by your parents, you can choose “Owned by Parents”, if you live in a rented house, with your family, you can choose “Rented by Family”, if you live in a rented house alone, you can choose “Rented Alone”, if you live with your friends in the house, you can choose “Rented with Friends”, if you live as paying guest in your current residence, you can choose “Paying Guest”, if you live in a hostel, choose “Hostel”, if you live in quarters provided by your office, choose “Office Quarters”.
  • Current Address proof type: Please tell us any address proof of the current address you have. Note that having an address proof is mandatory for getting a loan. The address which you provide must be present on the address proof. These are typically any of the identity proofs which you get from government institutions. Some of the possible address proofs are:
    • Voter Id Card
    • Valid utility Bill: This could be any of telephone bill, water bill or electricity bill. You should be having a recent address proof.
    • Bank document: If your bank provides you with an e-statement on your email or you can download it from your net banking portal, then that is a valid address proof. If the passbook provided by your bank has your address on it, then that can also serve as your current address proof.
    • Passport
    • Driving License: Note that this must be a full driving license and not a learners license.
    • Life Insurance Document: A receipt of your payment of life insurance premium to your insurance provider or your life insurance policy itself can serve as an address proof too.
    • Tax payment receipts: If you have paid municipality tax or corporation water tax recently, and have a receipt for the same, that can serve as address proof for you.
    • Gas Receipt: If you get gas cylinders for your family, you will have the receipt from your gas provider company. This receipt can be used as address proof.
    • Registered sale deed or agreement
    • RC Copy of four wheelers
    • Ration Card
    • Government allotment letter: If your residence is a residence provided by the government, the allotment letter of your residence to you would serve as an address proof.
    • Aadhaar Card
    • Rental agreement
    • PG Receipt: If you live as a paying guest, you would have a bill from your PG, which would serve as an address proof.
    • Pincode: This is the current pin code in which you are residing.

Credit Score

The credit score is a score provided between 300 and 900 for everyone from credit bureaus. There are four credit bureaus authorized by the Reserve bank of India (RBI) to give credit score to people. These bureaus are - CIBIL, Experian, Equifax and CRIF High mark. Your repayments on all the loans and credit cards taken by you are reported to the bureaus by the financial institutions. The credit score is an important factor which is considered by financial institutions before giving you a loan. A higher credit score represents that the person has paid most of the repayments on time, and hence lenders have more confidence in giving loans to that customer. Credit score reduces if you miss any of your payments on your credit cards or loans. A lower credit score decreases your chances of getting a personal loan. If you have not taken any credit card or loan in the past, then you would not have any repayment history (also known as credit history). Such people are called NTC (New to Credit) customers.

You can find your credit score for free once a year from each of the four credit bureaus’ websites for free. It is mandated by the Reserve Bank of India for the bureaus to provide a free report to everyone. Having a good credit score is very important for maintaining good financial health. You should keep checking your credit score periodically.

Quick Personal Loan Disbursal

At Credy, we believe in providing you with the fastest possible service and a quick loan experience. Once all steps required for the loan disbursal are finished, you will get the loan directly credited into your bank account via IMPS. Since this is an IMPS service, you can get the loan amount credited into your account 24x7. To enable us to do IMPS to your bank account, you will need to provide us with your bank account details including your bank account number and IFSC code of your bank account.

To provide you with a hassle-free experience, we do not ask you to pay any processing fee on the loan by cash or via payment gateways. Rather than that, Credy deducts the processing fee from your loan amount and sends the remaining amount to you. With Credy, it has become really easy to get a quick loan in India. To find out more about how much amount you get in your bank account check "Loan Terms" section below.

Loan Terms

Upon loan approval from Credy, you will receive a communication from us detailing the loan terms which we are offering you. This includes the following:

  • Loan Amount: This is the loan amount for which you are approved.
  • Duration: Number of EMIs you will have to pay for paying down the loan.
  • EMI Amount: This is the amount which you will need to pay every month. Try our loan EMI calculator to find the amount you need to pay as EMI for your loan.
  • First EMI Date: This is the date on which the first EMI payment starts. You will be required to pay the EMI amount on this day every month, including the first EMI date. For example, if EMI duration is 3 months, and the first EMI date is 5th March 2019, then you will be required to make the EMI payments on 5th March 2019, 5th April 2019 and 5th May 2019.
  • Interest: This is the total interest which you would pay on the loan. This is effectively the interest cost you will pay for getting the loan amount. It can be calculated as (EMI Amount * Duration - Loan Amount).
  • Processing Fee: This is the processing fee which is to be paid by you for availing the loan. You do not have to pay this amount to avail the loan, this amount along with any other deductions, if any, would be deducted from the loan amount, at the time of disbursal. Credy charges a processing fee of 3%, with a minimum amount of Rs. 500. For example, if you have been sanctioned a loan of Rs. 10000, then the processing fee charged would be Rs. 500. However, if you have been sanctioned a loan of Rs. 50000, then the processing fee charged would be Rs. 1500 (3% * 50000).

Personal Loan Interest Rates

(Updated on November 14, 2019)
Loan AmountUp to ₹ 1 Lakh
Interest Rate1 to 1.5% of Loan Amount Per Month
Loan Tenor3 to 12 months
Processing Fee3% of Loan Amount (Minimum ₹500)
Early Repayment Fee2% of outstanding loan amount
Late Fee2% of EMI Amount per week

Documents Required

The credy personal loan process is completely paperless. No paper document is collected from the borrower for loan processing. When Credy executive visits your house for verification, you would be required to provide the following documents:

  • ID Proof (this could be Aadhaar Card or PAN Card)
  • PAN Card (for confirming PAN number & date of birth)
  • Address proof (if your Aadhaar card already has your current address, you will not be required to produce another address proof).

Apart from these you would be required to sign a NACH or auto-debit instruction mandate for us. This would be used to allow us to automatically pull EMI amounts from your bank account, to give you a truly hassle-free experience in managing your loan.

How To Get Low Cibil Personal Loan?

Credy offers Personal Loan for Low Cibil Score for people with low credit score. While evaluating a loan application, we at Credy consider the entire credit history of the applicant, the details of the past loans (if any) and not just the credit score. This enables us to give loans even to those customers who are looking for a personal loan with low cibil score.

Credy's Personal Loan App

If you are an Android user, you can download our instant personal loan app from the Google Play store and get access to loan status tracking, offers, referrals and more.

Get it on Google Play