Welcome to our Credy loan app review! Salaried individuals often find it hard to save some extra money after spending their monthly income on their usual and necessary expenses. Fortunately, some platforms offer loans to such people. Credy Loan is one such app and this piece entails its features, good and bad and all the other information that you would want to know about it.

So, let's get started:

What is Credy Loan?

Credy is an application that offers personal loans which people can apply for in minutes online. Having been operating since 2016, Credy Loan is a non-banking financial company (NBFC) registered by RBI. 

Credy provides personal loans to people who get salaries in India ranging from 25,000 Rs to 100,000 Rs. They charge monthly interest rates that begin at 1 percent and the reimbursement period may be a year at maximum.

credy loan app

Credy Loan Review 2024

It is a loan marketplace that links borrowers with lenders. Credy Loan app doesn't lend money themselves instead they furnish a place for users to compare loan offers from different lenders. It is a remarkable method to receive the ideal interest rates and terms for the loan.

The platform supplies refinance loans, personal loans and student loans. Personal loans are given to users with good to bad credit score while student funding are given to students with nice credit. Credy gives refinance loans to individuals to help them decrease their interest rate on a current loan or consolidate debt.

Let's compare some upsides and downsides of the Credy app:


  • Fast and convenient application process as users may apply for a loan in minutes on the app
  • It gives you access to loan offers from several lenders so you may compare rates and terms
  • Applying for a loan through their platform doesn’t influence your credit score
  • Once Credy approves a loan, they disburse the amount to the relevant bank account within just 24 hours


  • The platform usually charges higher interest rates than conventional banks that offer loans
  • Credy loan commands a fee which is about 1% of the borrowed amount for using their app
  • Credy is not available in all locations

Credy Loan Benefits and Features

Let's look at some of the main features and perks of Credy personal loans:

Hassle-free and Rapid Procedure

Users can apply for a loan on their platform in minutes and will get approval or rejection within a day.

Competitive Interest Rates

Credy provides competitive interest rates that start at only 1 per cent a month.

Flexible Repayment Terms

Borrowers could opt for the loan amount and repayment period as per their requirements. Repayment periods they allow range from three to twelve months.

Effortless Online Repayment

Users may pay directly on the Credy application as part of their repayment plan.

No Collateral Needed

The platform doesn't ask borrowers to give them collateral to get a personal loan from them.

Quick Approval

It approves personal loans for eligible people instantly.


Credy sends transparent and clear terms and conditions to the borrowers when they get a personal loan so they know exactly what agreement they are signing.

24/7 Customer Assistance

Its customer support team is active 24 hours a day and seven days a week which means users can get support or ask queries whenever they want.

Credy Loan Eligibility Criteria 

Here are the things one should hold to be eligible to get a Credy personal loan:

  • Minimum age is 21 years 
  • Citizenship of India
  • A valid Aadhaar card and a PAN card
  • A good credit score
  • Monthly salary of at least 25,000 rupees

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What Documents Do I Require for Credy Loan?

You don’t need to submit any physical documents since Credy’s loan process is entirely paperless. But you have to submit the below-mentioned documents to their representative when they visit your place for authorization:

  • PAN Card to verify date of birth and PAN number
  • A PAN Card or Aadhaar Card for ID proof
  • Address proof if your Aadhaar card doesn't have your latest address otherwise, there will be no need to generate another address proof
  • 6 month old account statements or salary slip

Credy executive will also ask you to sign an auto-debit instruction mandate or a NACH to let them automatically take out your EMI payments from your bank account. It is an easy method to pay for your loan and steer clear of missing a payment.

What are Their Interest Rate and Other Fees?

Credy currently has these interest rates on the personal loans they offer:

  • They charge a monthly interest rate of 1 to 1.5 per cent of the amount
  • They offer loans of up to 1 lac Indian rupees
  • The repayment period is three to twelve months
  • They charge you 2 per cent of your EMI amount every week that you fail to pay on time
  • They charge 3 per cent of the borrowed amount as a processing fee (minimum amount is 500 rupees)
  • They charge 2 per cent of the outstanding borrowed amount as an early repayment fee

Keep in mind that interest rates keep changing, so you should visit the Credy app or website to see the latest interest rates.

How Do I Apply for A Credy Loan?

Follow these steps to apply for a Credy loan:

  1. Get the app from the Apple App Store or Google Play store
  2. Register yourself and submit the necessary data about yourself like your name, contact number, email and salary
  3. Import your Aadhaar card and PAN card on the app
  4. Give your bank account information
  5. The platform will authenticate your information and analyze your eligibility
  6. If they approve your loan, they will inform you within 24 hours.
  7. The app will ask you to select the repayment period and loan amount as per your requirements
  8. Credy will send your loan amount within 48 hours


We think Credy Loan is the perfect platform for users searching for a fast and convenient way to compare loan offers from various lenders. You should remember that Credy usually commands higher interest rates on their loans as compared to traditional banks. If someone wants to get the lowest possible interest rate, they should take a loan from a traditional credit union or bank.