CRED : Credit line / Personal loan

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Deal Cadet
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http://www.cre...ub
Cred has launched credit line / personal loan option.

https://cdn0.desidime.com/attachments/photos/635914/medium/Screenshot_20200909-184718_CRED.jpg?1599657621https://cdn0.desidime.com/attachments/photos/635915/medium/Screenshot_20200909-185046_CRED.jpg?1599657652



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23 Comments  |  
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Deal Subedar
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You are late bro.. It was launched almost 4 months back. I availed in July; the loan is by IDFC bank.

Biggest pro is apparently no preclosure charge. Also, was informed by Cust Exec that we can select the EMI payment date in the near future (not available at present).

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Deal Newbie
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Cred stash. very low interest rates

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Deal Cadet
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Tried it today, very good feature. Took maybe 10 min for the whole process, eKYC, eMandate, everything is seamless. Excellent service.

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Critic
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They have excellent market strategy
First: They gathered all credit card holders irrespective of bank
by giving some points
Now they are giving them self loans.
They have captured exact target persons to give loans.
it is not easy to get subscribed all the credit card holders at one place.

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Deal Newbie
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walrus wrote:

They have excellent market strategy
First: They gathered all credit card holders irrespective of bank
by giving some points
Now they are giving them self loans.
They have captured exact target persons to give loans.
it is not easy to get subscribed all the credit card holders at one place.

In future they may give credit card also.. like Amazon pay icici credit card

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Deal Cadet
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cashif wrote:

You are late bro.. It was launched almost 4 months back. I availed in July; the loan is by IDFC bank.

Biggest pro is apparently no preclosure charge. Also, was informed by Cust Exec that we can select the EMI payment date in the near future (not available at present).

What are the docs to be submitted? If so, can it be submitted using online method (scanned copies).

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Vivek-Thomas wrote:

Tried it today, very good feature. Took maybe 10 min for the whole process, eKYC, eMandate, everything is seamless. Excellent service.

What are the docs to be submitted? If so, can it be submitted using online method (scanned copies).

Is it instant loan after uploading the docs?

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Deal Subedar
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Expand
ramadesidime wrote:

What are the docs to be submitted? If so, can it be submitted using online method (scanned copies).

No documents, nothing. Just PAN which is already in their records since signup. It was a smooth 2 min process

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Vivek-Thomas wrote:

Tried it today, very good feature. Took maybe 10 min for the whole process, eKYC, eMandate, everything is seamless. Excellent service.

You took loan on 16.5 percent Intrest rate??

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Deal Cadet
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Showing 13.5 percent for me…but the thing is bank charges spoil the deal. Better go to SBI and take loan

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Deal Newbie
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Everybody who is going after it just check it’s 16% pa interests it means if you borrow 1lakh you have to pay 1.16lakh 16k more.

So he careful

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Deal Cadet
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It was 13.5% for me, and I just needed it for a month or two, so would be pre-closing anyway.

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